Marketplace Morning Report
2,364 episodes - English - Latest episode: 27 days ago - ★★★★★ - 748 ratingsIn less than 10 minutes, we’ll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace’s David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you’ll get a global markets update from the BBC World Service in London.
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Episodes
More money doesn’t always mean more votes
March 29, 2024 15:07 - 7 minutes - 11.8 MBPresident Joe Biden’s reelection campaign says it hauled in over $25 million at a New York City fundraiser last night, where Biden appeared alongside former presidents Barack Obama and Bill Clinton. So far, Biden is far out-raising Republican former president Donald Trump, but winning the money race doesn’t always translate into winning elections. And prices rose 0.3% in February, according to the personal consumption expenditures index. What should we make of that figure?
Much more than just checking a box
March 29, 2024 11:45 - 7 minutes - 11.8 MBOn the 2030 U.S. Census, Arab Americans will have their own box to check for the first time ever. And federal agencies are now being instructed to add a “Middle Eastern or North African” option to all data collection forms. One outcome? A clearer picture of economic conditions in Arab American communities. Then, a look at relief funds flowing into Maryland, and how medical debt can exacerbate existing pain and suffering.
Much more than checking a box
March 29, 2024 11:45 - 7 minutes - 11.8 MBOn the 2030 U.S. Census, Arab Americans will have their own box to check for the first time ever. And federal agencies are now being instructed to add a “Middle Eastern or North African” option to all data collection forms. One outcome? A clearer picture of economic conditions in Arab American communities. Then, a look at relief funds flowing into Maryland, and how medical debt can exacerbate existing pain and suffering.
Easter in Israel and the West Bank is missing a crucial element: visitors
March 29, 2024 11:21 - 7 minutes - 11.8 MBFrom the BBC World Service: Thousands of tourists usually flock to Jerusalem and Bethlehem during Easter, but there’s been a massive drop since the war in Gaza. That’s hit local livelihoods. Then, we hear from an FTX investor discuss the moment he had to tell his clients their cash was gone. Plus, the price of cocoa surged to an all-time high this week.
One bridge, thousands of jobs affected
March 28, 2024 15:14 - 9 minutes - 11.8 MBThe Port of Baltimore remains cut off after the recent collapse of the Francis Scott Key Bridge. It’s already having effects on supply chains, but it’s also impacting the jobs and livelihoods of folks in the region. We unpack. Plus, households accumulated more wealth during the pandemic recovery than would have been expected, U.S. hydropower took a hit last year, and a new Tennessee law aims to protect musicians from generative AI.
Sports betting platforms attempt to encourage safer gambling
March 28, 2024 11:49 - 8 minutes - 11.8 MBSeven of the largest U.S. sportsbooks, including FanDuel and DraftKings, are launching a trade group to promote responsible gambling. The move comes as legal sports wagers surge and as the NBA and MLB each investigate high-profile betting scandals involving athletes. Also on today’s show, we hear how the Baltimore bridge collapse is impacting workers there and look at proposed legislation aimed at tackling some of the burdens of medical debt.
China lifts Australian wine tariffs
March 28, 2024 11:33 - 7 minutes - 11.8 MBFrom the BBC World Service: There is good news for Australian wine producers: They’ll no longer face tariffs from their largest trading partner, China. Also in China, smartphone giant Xiaomi moves into the EV market. What’s behind the move? Plus, dates are often associated with the holy month of Ramadan and the breaking of fast. We take an examination of how supply chain stressors are affecting the economy of dates.
Why Americans are drowning in medical debt
March 27, 2024 14:45 - 7 minutes - 11.8 MBMedical debt is the leading cause of personal bankruptcy in America. Throughout the week, we’ll hear portions of a recent “Marketplace Morning Report” event to better understand what’s behind some of these exorbitant costs and hear about potential solutions. Plus, rerouting ships away from the Port of Baltimore will take time and money. We look at the potentials costs and see what other ports stand to gain.
$1 billion in relief for America’s child care crisis
March 27, 2024 11:46 - 8 minutes - 11.8 MBThe child care system in the U.S. is in crisis. The latest government funding bill just approved by the White House included a $1 billion increase for programs focused on child care and early childhood learning. Advocates see the boost as a win but caution that it still isn’t enough. Then, we’ll discuss what you need to know about the stock market debut of Donald Trump’s Truth Social.
China’s aging population problem
March 27, 2024 11:18 - 7 minutes - 11.8 MBFrom the BBC World Service: China’s leaders are trying to find ways to battle what many economists have described as a demographic ticking time bomb. One in five people are over 60 there, making it the largest elderly population in the world. Plus, flying cars have long been a futuristic dream. A European company has developed — and successfully flown — its “AirCar” but just sold the technology to China.
The latest on the Baltimore bridge collapse
March 26, 2024 14:34 - 8 minutes - 11.8 MBAfter a container ship struck a column of Baltimore’s Francis Scott Key Bridge early Tuesday morning, the structure collapsed and sent multiple cars into frigid waters. We’ll discuss what we know so far about the collision and its likely impacts on one of the busiest ports on the East Coast. Also on the program, we’ll hear useful context for the current crisis unfolding in Haiti and what a path forward might look like.
DJT comes to the Nasdaq
March 26, 2024 11:41 - 8 minutes - 11.8 MBShares of former President and presumptive Republican nominee Donald Trump’s social media company start trading Tuesday morning under the ticker symbol DJT. Initial public offerings can often bounce on their inaugural day, which could boost Trump’s wealth — on paper. But first: some numbers on a critical Baltimore bridge that collapsed overnight. We’ll also analyze Indigenous household finances and hear about a dip in sales at casual restaurant chains like Olive Garden.
Critical aid still not getting into Gaza
March 26, 2024 11:17 - 7 minutes - 11.8 MBFrom the BBC World Service: The humanitarian crisis in Gaza continues as aid is still not getting through to large parts of the territory, according to the U.N. agency UNRWA, which reports it is being blocked from delivering food to northern areas. Plus, a court in China sentenced the former president of its football governing body to life in prison for taking bribes, and Canada’s maple syrup reserves reach a 16-year low.
As Boeing’s CEO steps down, union negotations ramp up
March 25, 2024 15:19 - 9 minutes - 11.8 MBBoeing’s CEO has announced plans to step down just as the company begins negotiations with its largest labor union, which could authorize a strike in July if its demands aren’t meant. Also, the European Union’s antitrust regular investigates Apple, Google and Meta; why new home sales have become such a large chunk of the housing market; and tracing Haiti’s economic history from its founding to the current crisis.
As Trump Media goes public, Nordstrom attempts to go private
March 25, 2024 11:45 - 8 minutes - 11.8 MBToday’s the deadline for former President Donald Trump to come up with more than $450 million in cash or bond to cover New York State’s civil fraud judgement against him. He could get a quick hit of cash as Truth Social’s parent company goes public with the help of a merger with something called a SPAC. Meanwhile, Nordstrom is making another attempt to remove itself from public trading and go back to being a private company. The retailer tried and failed to make a similar move back in 2018.
Could reshoring hurt global trade?
March 25, 2024 10:54 - 8 minutes - 11.8 MBFrom the BBC World Service: In an exclusive interview with the BBC, the World Trade Organization’s director-general Ngozi Okonjo-Iweala says that when countries bring production back home — known as “reshoring” — it does not necessarily make supply chains more resilient. She thinks it contributes to a fragmentation of global trading relationships. Plus, how the popularity of the Mediterranean island Ibiza has driven up rents, making life hard for workers and the tourist businesses that emplo...
“Greedflation” is a thing, the FTC says
March 22, 2024 14:45 - 8 minutes - 11.8 MBAre grocery prices high because of supply chain problems and rising costs? Or is it because major grocery chains took advantage of those trends to pad their profits? A new report from the Federal Trade Commission suggests the latter. We’ll unpack what the report says. Plus, Biden cancels $5.8 billion in student debt for public service workers, and we’ll hear key takeaways from CERAWeek, the “Super Bowl” of energy.
The spending bill is also kind of a border security bill
March 22, 2024 11:54 - 7 minutes - 11.8 MBThe House is set to vote on a $1.2 trillion spending package Friday ahead of a partial government shutdown deadline. The proposed appropriations bill includes a significant bump in border security funding, including cash intended to more or less double the number of Border Patrol agents. We’ll also break down the Department of Justice’s antitrust case against Apple and hear how the need for insurance is influencing major life decisions.
The German national soccer team puts Adidas on the bench
March 22, 2024 10:50 - 7 minutes - 11.8 MBFrom the BBC World Service: Nike is replacing Adidas as the sponsor of Germany’s national soccer team. Then, Volodymyr Zelenskyy is pleading for more ammunition for Ukraine’s war efforts; German chancellor Olaf Scholz says he’ll back a plan to use money from frozen Russian assets to buy more weapons. And a Swedish pharmacy chain says it won’t sell anti-aging skincare products to kids under the age of 15.
Reddit finally goes public
March 21, 2024 14:58 - 11 minutes - 11.8 MBOn Thursday, Reddit debuted on the New York Stock Exchange under the ticker symbol RDDT. The social network is valuing itself at $6.4 billion. But we wondered: Why go public now? Plus, the Congressional Budget Office says that the national debt will be smaller than previously thought, citing less government spending and more immigration. And we look at why we may end up with higher interest rates over the next few years.
Expect rate cuts — just not quite yet
March 21, 2024 12:09 - 8 minutes - 11.8 MBThe Federal Reserve left interest rates unchanged at its meeting this week, though it’s penciling in three rate cuts at some point this year. But what does the Fed need to see before it’ll actually lower rates? We’ll discuss. Then, Hermès faces a class-action lawsuit over Birkin bag sales. And the mining of metals beneath our feet is vital to the green energy transition but is often complicated.
Kosovo urged to drop Serbian cash ban
March 21, 2024 11:28 - 6 minutes - 11.8 MBFrom the BBC World Service: The Balkan state Kosovo, which broke away from Serbia in 2008 after a bitter civil war in the late 1990s, currently doesn’t accept transactions in the Serbian dinar. But some Serb-majority areas are still reliant on the currency. We’ll hear more. But first, a Chinese-funded port in Pakistan was attacked by militants. We’ll detail what exactly happened.
Turns out we don’t scream for ice cream
March 20, 2024 14:46 - 8 minutes - 11.8 MBThe ice cream business is pretty chilly these days. Consumer goods giant Unilever announced this week that it’s going to spin off its ice cream business, which includes familiar names like Ben & Jerry’s, Popsicle and Klondike. The industry is dealing with declining demand, so how does it plan to defrost? Plus, the secret to using AI well at work may involve “more chat and less bot.”
About investing in climate resilience
March 20, 2024 11:30 - 8 minutes - 11.8 MBToday, we’re bringing you a very ESG-focused podcast. First, Texas is pulling $8.5 billion from the country’s biggest asset manager, BlackRock, which the state’s school fund says is hostile to the fossil fuel industry. It’s a pushback against ESG investing, in which environmental, social and corporate governance issues factor into decision-making. Then, a new paper says climate resilience is an investment opportunity for big-time institutional investors. We delve in.
China and Australia’s rocky trading relationship
March 20, 2024 11:02 - 7 minutes - 11.8 MBFrom the BBC World Service: China’s foreign minister is making his first trip to Australia in seven years. Will the talks bring a bitter three-year trade war to an end? Plus, the Red Sea is used by 30% of the world’s container ships using the Suez Canal, but the journey is being made perilous by drone attacks from Houthi rebels in Yemen. We hear from one of the U.S. warships now patrolling the waters.
Why Sports Illustrated’s buyer is keeping the print magazine around
March 19, 2024 14:32 - 8 minutes - 11.8 MBSports Illustrated has a new publisher, which says it will keep producing the magazine’s print editions. We’ll look into the value of a print product in the digital age. But first, Congress still needs to vote on a deal to keep the government funded until September. How likely is it to pass? And later, streaming platform Showmax is ramping up production and boosting a roster of African-made programs.
The chips behind artificial intelligence are getting more powerful
March 19, 2024 11:37 - 8 minutes - 11.8 MBNvidia is about as close to a rockstar as you can get in Silicon Valley currently. At a conference hosted in a sports arena, the company’s CEO introduced a new advanced chip that promises to be 30 times faster at some tasks than NVIDIA’s previously most advanced chip. We’ll also hear more about the Bank of Japan’s rate hike decision and discover how a housing justice video game was adapted for stage.
Japan finally raises interest rates
March 19, 2024 11:18 - 9 minutes - 11.8 MBFrom the BBC World Service: Japan’s central bank has ended its policy of negative interest rates and raised the cost of borrowing for the first time in 17 years. Japan is the world’s fourth-largest economy, so there’s potential for global economic fallout. We’ll unpack the decision and its impacts. Plus, South African streaming service Showmax is making huge investments in original, African-made content, even while Amazon Prime scales back production investment there.
Who’s winning the dollar store wars?
March 18, 2024 14:16 - 8 minutes - 11.8 MBAs shoppers remain price-conscious, why is one U.S. dollar store chain thriving while another one flounders? Plus, SpaceX builds spy satellites for the Pentagon, and environmental protests impact operations at Tesla’s EV factory in Germany.
A video game where the only violence is in the economics
March 18, 2024 11:54 - 8 minutes - 11.8 MBMade in Detroit, the interactive video game Dot’s Home takes users through a generations-long cycle of housing discrimination. Plus, Apple is in talks with Google for a potential AI integration.
Putin retains Kremlin power
March 18, 2024 10:53 - 7 minutes - 11.8 MBFrom the BBC World Service: As Western nations condemn Russian President Vladimir Putin’s election win, what does a fifth term of his leadership mean for the country’s economy? Also: Tesla Germany faces eco-protests.
What could be the biggest change to real estate in a century
March 15, 2024 15:27 - 8 minutes - 11.8 MBThere’s news this morning that the National Association of Realtors, a powerful group that sets home sale standards nationally, reached a settlement following nationwide lawsuits alleging its rules and behaviors were keeping real estate commissions artificially high. The proposed agreement includes a payout and elimination of its rules around commissions. We’ll unpack. Then, we’ll discuss a trickier job for the Federal Reserve and hear reflections from a cabaret co-owner and performer.
Where did all of D.C.’s federal workers go?
March 15, 2024 11:38 - 7 minutes - 11.8 MBThe campaign to shrink the federal government is working — in Washington, D.C., at least. Data released by the Labor Department shows that D.C. ranked dead last when it comes to growth in federal government jobs last year. Most federal workers have always been based outside the nation’s capital, but the pandemic turbocharged that, hitting the city’s bottom line. Plus, why is it getting more expensive to do your taxes?
Russia goes to the polls
March 15, 2024 10:58 - 8 minutes - 11.8 MBFrom the BBC World Service: With no credible challengers, Vladimir Putin is set to win Russia’s presidential election, and he’s taking credit for what appears to be a reasonably robust economy. But what’s behind those seemingly good numbers? And 500,000 people are expected to line the streets of Dublin to watch the St. Patrick’s Day parade Sunday; 28% of them will be overseas visitors. So how important is the holiday boost for the Irish economy?
Americans are opting to stay put
March 14, 2024 15:13 - 11 minutes - 11.8 MBAmericans have long been known for pulling up stakes and moving for economic opportunity. But rather than chasing higher-paying jobs, more Americans are reluctant to move — and housing costs have something to do with it. Plus, there’s plenty of economic data on the table to discuss: Wholesale inflation came in warm but not hot, retail sales rebounded, and unemployment has stayed under 4% for 25 months now.
Where does TikTok go from here?
March 14, 2024 11:44 - 8 minutes - 11.8 MBOn Wednesday, the House of Representatives’ passed a bill with bipartisan support that would force parent company ByteDance to either divest — to sell off — TikTok or see the app banned from U.S. app stores. But could such a divestiture happen? And would TikTok still be TikTok? Also on the program: The stock market is on a tear. Zanny Minton Beddoes, editor of The Economist, calls it “rational exuberance.”
TikTok responds to ban bill
March 14, 2024 11:38 - 8 minutes - 11.8 MBFrom the BBC World Service: TikTok’s chief executive responds to the decision to potentially ban the app in the United States following allegations of links to the Chinese Community Party. We’ll hear some responses from China. Plus, Bitcoin is breaking records, and this time it’s in the right direction — it’s hitting all time highs. So what’s behind the surge?
Inside Chile’s plan to shorten the workweek
March 13, 2024 13:30 - 9 minutes - 11.8 MBA year ago, Chilean officials voted to reduce the workweek from 45 hours, longer than in most industrialized countries, to 40. The new rule gives businesses until 2028 to tick down to 40 and is aimed at improving work-life balance. We check how the rollout is going. And the S&P 500 closed at a record high on Tuesday. Can the good times last? We hear the bull’s case for the market.
What working from home does to commercial construction
March 13, 2024 11:26 - 8 minutes - 11.8 MBWe’ve been hearing a lot about troubled commercial real estate loans, high office vacancy rates and continued remote work. All of these factors and more are feeding back up the food chain to the folks who design and build office towers and other commercial properties. We’ll discuss. Also: $300 million in new military aid to Ukraine, and a virtual fitness company CEO on staying strong in a changing market.
Argentina’s inflation rate finally falls
March 13, 2024 11:15 - 9 minutes - 11.8 MBFrom the BBC World Service: Argentina’s inflation — the world’s highest — has slowed down from 20.6% in January to 13.2% in February. Then, hundreds of U.K. post office managers were wrongly prosecuted after faulty computer software calculated that money was missing from their branches. Today, the government will introduce legislation to quash the convictions. And businesses in Chile are preparing to cut their employees’ hours from 45 to 40 hours a week following a new law.
Millennials will be worse off than their parents, right? Maybe not.
March 12, 2024 14:55 - 7 minutes - 11.8 MBIt’s practically accepted as truth at this point: Millennials would be the first generation to be worse off than their parents. But recent research casts some doubt on that assessment. We’ll consider some economic findings that reframe things a bit. Plus, prices were up 3.2% annually in February, and month-over-month price increases seem to be going in the wrong direction. That’s not something the Federal Reserve will be happy about.
Wages have been outpacing inflation — but there’s a catch
March 12, 2024 11:33 - 7 minutes - 11.8 MBWhile the purchasing power of earnings started to catch up to inflation last year, lower- and middle-income workers have been playing catch-up and are trying to dig out of debt. Meanwhile, Americans are working fewer hours on average, and fewer hours can cause total earnings to trail price gains. Also: a closer look at New York Community Bank’s lifeline and an examination of those earmarks in the $460 billion spending package.
Haiti’s leader resigns
March 12, 2024 10:48 - 7 minutes - 11.8 MBFrom the BBC World Service: Haiti’s prime minister, Ariel Henry, has resigned after days of fierce fighting in the capital, Port-au-Prince. Heavily armed gangs have been roaming the streets there demanding his resignation. Then, India’s Supreme Court has told the country’s state bank to reveal the details of a scheme that allows political parties to receive anonymous donations. And later, as farmer protests continue across Europe, we look at what’s driving them.
The clock may be ticking for TikTok
March 11, 2024 14:42 - 7 minutes - 11.8 MBThe House of Representatives is expected to take up a bill this week that could effectively ban TikTok in the U.S. if the Chinese company that owns it, ByteDance, doesn’t sell off the social media platform. That effort has rare bipartisan support. We’ll unpack the latest. Later: what to make of some firmer-than-expected inflation readings and how the marching band at Prairie View A&M is helping students’ career prospects.
Will safety issues at Boeing seriously impact air travel?
March 11, 2024 11:35 - 8 minutes - 11.8 MBConsumer trust in Boeing is wearing thin since an airplane door ripped off a 737 Max 9 in January, which has been followed by a string of other recent Boeing safety incidents. So how much does faltering trust actually impact the business of air travel? Plus, President Joe Biden will unveil a new budget proposal today, and banks are still grappling with fallout of SVB’s failure one year on.
China’s National People’s Congress comes to a close
March 11, 2024 11:05 - 7 minutes - 11.8 MBFrom the BBC World Service: China’s annual policy meeting has drawn to a close at a time when the country has mountains of debt, high youth unemployment and a property sector in crisis. So what is the government’s plan to boost confidence and steady the economy? Also on today’s program: Sweden officially joins NATO and an Australian politician unveils plans for the world’s largest chocolate fountain.
Signs of a still hot — but cooling — job market
March 08, 2024 15:49 - 9 minutes - 11.8 MBThis morning’s fresh jobs data shows that 275,000 people were added to payrolls last month. But December and January’s payroll numbers were revised down, pointing to a labor market coming off the boil. We dig in. Also on today’s show: President Joe Biden’s State of the Union address touted his economic wins, Google tries to crack down on spam in search results, and revised H1-B visa rules give workers more autonomy.
An economics-infused State of the Union address
March 08, 2024 13:08 - 7 minutes - 11.8 MBPresident Joe Biden could have tiptoed around economics during last night’s State of the Union address, but that’s not what he did. Instead, he pointed to slowing inflation, called out corporations for unfairly raising prices, advocated for a fairer tax code and proposed a mortgage relief credit for first-time homebuyers. We’ll unpack some of the highlights from last night. Then, we’ll hear about a scaling back of proposed banking regulations.
The U.K. has no “credible plan” to fund armed forces
March 08, 2024 12:06 - 7 minutes - 11.8 MBFrom the BBC World Service: The United Kingdom will be left increasingly reliant on military allies due to a black hole in defense spending, lawmakers warn. Then, it’s a decade since Malaysian Airlines flight MH370 disappeared; we have the latest on the search for the missing plane. And last summer marked the first time in six decades that Hollywood’s actors and writers went on strike simultaneously. How are the repercussions being felt?
Companies need to calculate risks as the climate changes
March 07, 2024 15:25 - 8 minutes - 11.8 MBThe Securities and Exchange Commission passed new rules this week requiring public companies to disclose climate-related risks to investors. The rules are meant to standardize reporting requirements on things like emissions and exposure to climate change-related disasters. We unpack. Also: When will the Fed cut rates? Senators are likely to put Jay Powell on the spot when he testifies. And New York Community Bancorp gets a $1 billion injection from investors.