Marketplace Morning Report
2,364 episodes - English - Latest episode: 22 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
When your barber is also your banker
March 07, 2024 13:06 - 8 minutes - 11.8 MBAs part of this month’s Econ Extra Credit series, we’re watching Oscar-nominated documentary shorts. On today’s show, we’re focusing on “The Barber of Little Rock.” The film follows Arlo Washington on his quest to fight economic inequality in Arkansas, where he founded a barber school and a nonprofit loan fund. Today, we’ll hear Washington’s conversation with “Marketplace Morning Report” host David Brancaccio. But first, the number of cybercrimes reported to the FBI is spiking.
Women’s shifting roles in the Irish economy
March 07, 2024 12:26 - 9 minutes - 11.8 MBFrom the BBC World Service: On Friday, Ireland votes on whether to change a clause in the constitution that says a woman’s main duties are as a caregiver in the home. In this special from Dublin, women from different backgrounds speak about their experiences and opportunities in the workplace. We’ll hear their perspectives from Bewley’s, a tea room where the Irish Women’s Liberation Movement first met.
This election’s big trust issue (maybe not the one you’re thinking of)
March 06, 2024 16:04 - 8 minutes - 11.8 MBFollowing Super Tuesday’s results, there hasn’t been a major paradigm shift, even after the suspension of Republican contender Nikki Haley’s presidential campaign. But many people in the world of business are laser-focused on the outcomes of November’s election because of what it can mean for antitrust policy. We delve in. Also: what’s included in spending packages before the House and how a lack of water is impacting the Panama Canal.
It’s a great time to be out in the ‘burbs
March 06, 2024 13:14 - 9 minutes - 11.8 MBThe U.S. housing market gained $2.4 trillion over the last year, according to a new Redfin report. Homes in suburban areas saw their values increase by more than 5.6%, which is more than homes in city centers. We add it all up. Plus, Apple has lost market share in China and is pushing an update to mobile operating systems in Europe. Then, lessons in life — and economics — courtesy of an HBCU marching band director.
iPhone sales slide in China
March 06, 2024 11:50 - 9 minutes - 11.8 MBFrom the BBC World Service: Sales in China of Apple’s iPhone fell by 24% in the first six weeks of 2024 compared to a year earlier, while competitor Huawei saw its sales jump by 64% during that same period. Also, Singapore’s prime minister defends exclusive access to Taylor Swift’s Eras tour, and regional neighbors aren’t happy. And the Panama Canal faces a major problem: The canal is running out of water.
Explaining a major health care ransomware attack
March 05, 2024 15:56 - 9 minutes - 11.8 MBThere’s news this morning that UnitedHealth paid $22 million to recover systems from a ransomeware gang. The attack impacted a number of doctor’s clinics, especially in rural areas, and some pharmacies struggled to fill prescriptions as a result. Also on the program, we hear more about the state of Japan’s economy, a new satellite that detects methane gas leaks and club closures across the U.K. amid fizzling weeknight business.
It’s not just nurses in short supply
March 05, 2024 12:42 - 9 minutes - 11.8 MBNursing leaders in hospitals around the countries are on the frontlines of a decadeslong nursing shortage. But they’re dealing with retention issues of their own. A new survey found that nearly a third of hospital nurse leaders plan to leave their jobs within a year. We’ll also take a look at the hottest new tech stock and the president’s crackdown on junk fees. Plus, get ready for the political campaign ad deluge.
China sets ambitious economic target for 2024
March 05, 2024 12:10 - 8 minutes - 11.8 MBFrom the BBC World Service: China’s National People’s Congress is underway, and the government has been laying out its aims for the next year — which includes a 5% growth target. We delve into the latest. Then, Australia plans to boost trade and investment in East Asia. Plus, midweek nights out used to be the norm for British college students. Have sticky floors and expensive drinks lost their appeal?
How writers’ and actors’ strikes shape what we watch
March 04, 2024 16:00 - 8 minutes - 11.8 MBIn its recent quarterly results, Paramount said it would continue several cost-cutting experiments it began in response to last year’s months-long strikes. That’s something it seems every media company is trying to do these days. What will it likely look like? More reality TV, foreign programming and live sports. Also on the show: unpacking what’s included in the the latest government spending bills and explaining the European Union’s $2 billion Apple fine.
What to make of New York Community Bank’s “material weaknesses”
March 04, 2024 12:30 - 9 minutes - 11.8 MBRegional lender New York Community Bancorp has already had a rocky year so far and recently replaced its CEO following revelations of “material weaknesses.” NYCB acquired nearly $40 billion in assets last year from the failing Signature Bank, and that rapid growth can make it hard for internal controls to keep up. Also, a federal judge in Alabama struck down an anti-money-laundering law. And interest rates aren’t included in inflation calculations. What gives?
Can becoming a “book town” help rural communities?
March 04, 2024 12:00 - 8 minutes - 11.8 MBFrom the BBC World Service: Wigtown, a remote town in Scotland, has turned its fortunes around by building a thriving literary sector. Can other towns see success by taking a leaf out of Wigtown’s book? Plus, the National People’s Congress gets underway tomorrow in Beijing, and getting China’s economy back on track is at the top of the agenda.
Special: Democracy in the Desert
March 01, 2024 18:43 - 31 minutes - 11.8 MBThey say all politics is local. So where’s the local news coverage this election year? Welcome to a Marketplace Morning Report special we’re calling “Democracy in the Desert. We’ve been traveling to what are called “news deserts” in Super Tuesday states to hear about the business models that are failing or informing voters as they make their choices. We visit a border town in Texas, North Carolina and a Virginia county that’s just about an hour south of Washington, D.C., for more.
60 years since the Civil Rights Act, racial wealth gaps persist
March 01, 2024 16:27 - 9 minutes - 11.8 MBThe National Urban League is out with its latest assessment on the State of Black America, which measures racial inequality in areas including employment, health care, housing and criminal justice. While some gaps have closed, others still have a long way to go to reach parity. We’ll discuss. Plus, Wall Street is betting on a boom fueled by AI and falling interest rates, and theaters hope the “Dune” sequel will get moviegoers back in seats.
The life and death of a Virginia newspaper
March 01, 2024 13:10 - 9 minutes - 11.8 MBKeith Stickley is the owner of Shenandoah Publications, which prints campus newspapers for colleges around Virginia. He also founded The Free Press, a newspaper that served his hometown and aggressively covered local issues and politicians. But he had to pull the plug on that paper when he just couldn’t make the economics work any longer. We hear his story as part of our Democracy in the Desert series. But first, Congress has barely averted a government shutdown — yet again.
Germany heads toward more rail strikes
March 01, 2024 12:44 - 8 minutes - 11.8 MBFrom the BBC World Service: Pay negotiations between German’s national rail operator Deutsche Bahn and its drivers’ union have broken down, threatening six days of rail strikes. Then, the G20 is seriously considering a global minimum tax for billionaires. And yesterday was leap day, meaning that people in France had the chance to buy a newspaper that only comes out every four years.
Germany heads towards more rail strikes
March 01, 2024 12:44 - 8 minutes - 11.8 MBFrom the BBC World Service: Pay negotiations between German’s national rail operator Deutsche Bahn and its drivers’ union have broken down, threatening six days of rail strikes. Then, the G20 is seriously considering a global minimum tax for billionaires. And yesterday was leap day, meaning that people in France had the chance to buy a newspaper that only comes out every four years.
$8.5 billion for 750 million sets of eyes
February 29, 2024 16:09 - 9 minutes - 11.8 MBThis week, Disney announced that it’s joining forces with India’s Reliance Industries to create a streaming platform that will serve up everything from live sports — notably cricket — to Disney films to TV dramas. It’s a strategic move from Disney in the world’s most populous country. Plus, goods prices receded, but services inflation is getting sticky. And: the economics (and tunes) of an HBCU marching band.
Democracy in a desert near D.C.
February 29, 2024 13:05 - 9 minutes - 11.8 MBAs part of our Democracy in the Desert series, we head today to King George County, just about an hour’s drive from D.C. There, we hear about how a changing media landscape left a community with few credible news sources and examine the sorts of impacts that’s had. When news go bust, where can people turn? Then, securities regulators are reportedly investigating whether OpenAI, maker of ChatGPT, misled investors.
Striking South Korean doctors threatened with arrest
February 29, 2024 11:55 - 9 minutes - 11.8 MBFrom the BBC World Service: South Korea is threatening to arrest any doctors who continue to strike and says it will ban them from ever practicing again if they don’t return to work. Then, Cuba is asking the World Food Programme to provide milk to children for the first time in its history. And Saudi Arabia has made its biggest push into tennis, but it comes with accusations of sportswashing.
Extra day, extra pay?
February 28, 2024 16:00 - 9 minutes - 11.8 MB2024 is a leap year, and tomorrow, Feb. 29, is a regular ol’ work day. So what does that additional day mean for your paycheck? It’s pretty straightforward for hourly workers but gets a little more complicated for salaried employees. We’ll also take a look at how recalls impact carmakers, hear about hope for averting a partial government shutdown, and look at why markets aren’t looking at revised GDP figures.
From news desert to election do-over
February 28, 2024 12:43 - 8 minutes - 11.8 MBToday, as part of our Democracy in the Desert series, we head to North Carolina, where a Baptist minister seemed to win a 2018 congressional election by roughly 900 votes. But after a fraud scandal involving absentee ballots came to light, officials ordered a new election. We’ll hear how a lack of local news coverage played out in this story. Plus, what ever happened with Apple’s electric car efforts?
Creditors file to liquidate China’s largest property developer
February 28, 2024 11:50 - 7 minutes - 11.8 MBA petition to liquidate has been filed in Hong Kong’s High Court against China’s biggest private property developer, Country Garden. Then, South Korea has reported a record-low birth rate despite spending billions to encourage women to have more children. And more than 6,000,000 people visit the Sistine Chapel each year, but big numbers could cause damage to the frescos. We’ll hear about the Vatican’s team of experts who monitor conditions in the chapel.
Teaching teens personal finance has long-term payoffs
February 27, 2024 15:40 - 8 minutes - 11.8 MBA growing number of high schools are requiring students to take personal finance courses, and the long-term payoffs are significant. Plus, Macy’s is closing 30% of its stores, Expedia announces layoffs as the post-lockdown travel surge slows, and a $1 billion gift means free tuition at Albert Einstein College of Medicine in the Bronx.
The last local news outlet in town
February 27, 2024 13:05 - 8 minutes - 11.8 MBWith local elections looming — and no more daily newspaper in the area — how are residents of Del Rio, Texas getting their information?
Nigeria protests hunger and hardship
February 27, 2024 12:10 - 9 minutes - 11.8 MBFrom the BBC World Service: Trade unions have led demonstrations in Nigeria, as the country grapples with an economic crisis. Also: There are concerns about the tactics used by companies offering loans via cell phone apps in Kenya.
A sunny outlook, courtesy of American business economists
February 26, 2024 15:38 - 8 minutes - 11.8 MBRecession talks are receding and the the prospects of a soft landing are getting bigger, at least according to a new forecast by the National Association for Business Economics. But while the pros are betting the economy gets better and better this year, what about everyday folks? Then, we’ll pick up our discussion with model, entrepreneur and activist Bethann Hardison about the fits and starts of diversity in the fashion industry.
A news desert in the desert
February 26, 2024 12:59 - 8 minutes - 11.8 MBThey say all politics is local. But what are voters to do to get reliable, fact-checked information about local issues and politics when they have few news coverage options? As part of this week’s “Democracy in the Desert” series, we travel to Val Verde County, Texas, to hear how voters get their news ahead of Super Tuesday. Plus, AT&T will give a $5 credit to customers most affected by last week’s network outage.
Boeing delays could hit ticket prices in Europe
February 26, 2024 12:23 - 7 minutes - 11.8 MBFrom the BBC World Service: Europe’s biggest low cost airline, Ryanair, is warning of a 10% rise in ticket prices this summer because delayed deliveries of new aircraft from Boeing could affect capacity. We’ll discuss. Plus, how is Russia’s economy faring after two years of sanctions? Then, we’ll discuss the death of Zong Qinghou, the billionaire beverage magnate who was China’s richest man.
When cost of living is a major voting bloc’s biggest concern
February 23, 2024 15:42 - 8 minutes - 11.8 MBA new AARP survey of women age 50 and up is out. They’re a large demographic — 62 million, according to AARP — and are more likely to vote than other cohorts. They’re also a swing voting bloc, and rising costs are dragging down their personal economies. We’ll also learn about new tribal gaming compacts aimed at protecting tribes’ interests and hear why one economist is watching productivity gains.
Bethann Hardison on breaking barriers in fashion
February 23, 2024 13:21 - 9 minutes - 11.8 MBFor our Econ Extra Credit series this month, we’re watching “Invisible Beauty,” an autobiographical film exploring the life and work of model and activist Bethann Hardison. Today, “Marketplace Morning Report” host David Brancaccio is in conversation with Hardison to discuss a major cultural moment — walking for designer Chester Weinberg in the ’70s — and how she helped inspire a shift in the world of modeling and fashion. But first, Reddit goes for the IPO. Sign up for our Econ Extra Credit...
IMF: Ukraine needs “timely support” from donors
February 23, 2024 12:25 - 8 minutes - 11.8 MBFrom the BBC World Service: As Ukraine prepares to mark two years since Russia’s invasion, the International Monetary Fund says the country’s economy is holding up — but funding from the U.S. and other international backers remains essential. In Ukraine, however, delays in international funding are weighing on confidence. Plus, could menopause be considered a disability? Then, a look at the link between trade deals and panda deals.
About these regional bank-commercial real estate concerns…
February 22, 2024 15:29 - 10 minutes - 11.8 MBCommercial real estate is a market that’s been sagging with lots of people still working from home. That’s been a source of consternation for regional banks with exposure to commercial real estate, like New York Community Bancorp, which Moody’s recently downgraded. But is all this anxiety actually overblown? We dig in. Plus, Japan’s stock market climbs out of a decadeslong slump, and the first online-only grocer will soon begin accepting SNAP benefits.
Good news on the emissions front
February 22, 2024 13:25 - 8 minutes - 11.8 MBIn a bright spot for news on the climate crisis, new data shows that U.S. carbon emissions dipped by 1.8% last year. Most of the reduction in emissions is coming from the power sector. We’ll explore what’s driving the shift and where progress still needs to be made. Plus, Nvidia saw a 265% revenue bump from a year ago. Then, inflation and health care remain key worries for voters.
Japan’s Nikkei hits record high thanks to chips
February 22, 2024 12:41 - 7 minutes - 11.8 MBFrom the BBC World Service: Tokyo’s main stock exchange closed at a record high on Thursday, beating a three-decade old record and largely due to semiconductor microchips. The surge comes after U.S.-based chipmaker Nvidia posted Q4 financial results that beat estimates. An Nvidia-based bounce drove tech stocks in Europe too. Also on the program: How will Albania’s controversial migration deal with Italy work?
An invidious moment for Nvidia’s stock
February 21, 2024 16:02 - 9 minutes - 11.8 MBNvidia, maker of semiconductor chips used for generative AI, reports its Q4 financial results after markets close on Wednesday. The company has forecast major revenue gains, but there was a wave of nervous selling yesterday and the stock is down so far this morning. What should we expect today? Then: the latest student loan forgiveness program, the Richmond Fed president on price hikes’ inflationary impact and a shortage of coins in the Philippines.
Is diversity a fad in fashion?
February 21, 2024 12:55 - 11 minutes - 11.8 MBAs part of our Econ Extra Credit series, we’re exploring race and representation in the world of fashion. Today, we’re joined by fashion and costume historian Shelby Ivey Christie to discuss the industry’s inconsistencies on diversity — including on the runway and on magazine covers, as well as in boardrooms and editorial departments. Also, homeownership swelled before mortgage rates spiked, but disparities remain. Sign up for our Econ Extra Credit newsletter now.
Who’s going to pay to rebuild Ukraine?
February 21, 2024 11:44 - 7 minutes - 11.8 MBFrom the BBC World Service: Saturday marks two years since Russia invaded Ukraine. As the conflict continues, rebuilding is a major concern for residents and businesses there – so where’s the money going to come from? Plus, campaigners say beef production by major meatpackers has been linked to illegal deforestation in Brazil, and some retailers in The Philippines are giving customers candy rather than small change because of a coin shortage.
Background on that Capital One-Discover deal
February 20, 2024 15:45 - 8 minutes - 11.8 MBOnce upon a time, Sears department stores were everywhere. A subsidiary of Sears launched the Discover card in 1986. It wasn’t unusual for department stores to offer their own credits cards, but the Discover card was accepted by other merchants. Today, we’ll hear a brief primer on the history that predated the recently announced Capital One-Discover purchase. Plus, China slashes mortgage rates, and northeastern Spain faces tough water restrictions.
One less credit card company, one more giant bank. Maybe.
February 20, 2024 12:57 - 8 minutes - 11.8 MBCapital One says it’s reached an all-stock deal to take over Discover Financial Services. The acquisition would create a stronger rival to Visa and Mastercard, but it’s far from a done deal and is likely to face heavy scrutiny from regulators. Also on the show: why the average age of Americans farmer is on the rise, and what the producer price index can reveal about inflationary trends.
China unveils its first domestically produced passenger jet
February 20, 2024 12:37 - 9 minutes - 11.8 MBFrom the BBC World Service: China’s C919 jetliner is being showcased at the Singapore Airshow. Its Beijing-backed manufacturer is hoping the plane will be a challenger to Airbus’ A320 and Boeing’s 737 Max. Then, doctors in South Korea are striking in protest at plans to train more physicians. And in Spain, the northeastern region of Catalonia has been suffering a record-breaking drought, and a state of emergency has been declared.
A radio host walks into a nudist colony
February 19, 2024 14:46 - 7 minutes - 11.8 MBNewer technologies allow us to pay using smartphones, smartwatches or even the palms of our hands. But what could you do before such technologies existed … in a place where there aren’t any pockets? Today, we’ll revisit a 1991 story in which Marketplace’s David Brancaccio explored and exposed the payment systems of Cap d’Agde, a naturist village and resort in France. Plus, a look at the economic issues likely to arise at CPAC.
Cash? Credit? Check? Or palm?
February 19, 2024 12:25 - 8 minutes - 11.8 MBIf you could pay for things with just a wave of your hand, would you? Now, Amazon One, tech that scans your hand and links your identity to your credit card, has been rolled out at multiple Whole Foods locations. We’ll hear what the odds of this new tech taking off are and what happens to all that biometric data. Plus, construction companies are still struggling to find building materials.
Seven weeks after Japan’s earthquake, residents struggle to rebuild
February 19, 2024 11:52 - 6 minutes - 11.8 MBFrom the BBC World Service: Japan’s remote Noto Peninsula was rocked by a deadly New Year’s Day earthquake, which killed more than 200 people and damaged or destroyed some 55,000 homes. Communities are still without basics services such as water. First, after weeks of farming protests in Europe, farmers stage demonstrations over European Union agricultural policies in the capital of the Czech Republic.
When Xbox games don’t require an Xbox
February 16, 2024 15:52 - 7 minutes - 11.8 MBMicrosoft, the owner of Xbox, announced on Thursday that it’s bringing several previously Xbox exclusive games to rival consoles. More could be coming. Playstation and Nintendo have historically used games that can only be played on their gaming consoles to help drive console sales. So what’s behind the shift in strategy for Xbox? Also on the show: closer examinations of wholesale prices and the Biden administration’s latest attempt at student loan cancellation.
The FCC takes aim at AI robocalls
February 16, 2024 12:42 - 7 minutes - 11.8 MBLast week, the Federal Communications Commission banned robocalls that use voices generated by artificial intelligence. This comes after New Hampshire voters received phone calls during that state’s primary, which used AI to imitate President Joe Biden and discourage people from heading to the polls. Today, we hear how generative AI is being used to manipulate and what consumers can do to protect themselves. Also: a disappointing snapshot of the manufacturing economy.
Airbus boss says they’re too slow going green
February 16, 2024 12:04 - 7 minutes - 11.8 MBFrom the BBC World Service: Aviation was responsible for 2% of global carbon emissions last year, according to the International Energy Agency, and the industry is under pressure to develop greener engines. But the boss of Airbus, one of the world’s biggest airplane makers, doesn’t think progress is speedy enough. Plus, political drama and a tax investigation ahead of India’s elections and an exploration of dynamic pricing.
Consumers backed off a bit in January
February 15, 2024 15:54 - 8 minutes - 11.8 MBTurns out, we weren’t very spendy in the first month of the year. In January, retail sales were down 0.8% — more than many economists expected. It’s an indicator that consumers are feeling weary of high prices and becoming more value-oriented. We’ll discuss. Also on the show: Express, once a mainstay of every mall, could soon file for bankruptcy. Then, college endowments see big returns thanks to solid stock market gains.
What student loan forgiveness means for your taxes
February 15, 2024 12:46 - 7 minutes - 11.8 MBSince President Joe Biden took office, more than 3.6 million people have had their federal loans forgiven in full. But what’s that mean for your tax bill? While you don’t have to worry about federal taxes, state taxes could be another story. We’ll provide a helpful explainer. Plus, consumers complain about high prices but spend anyway, and that’s helping turn shoppers on to off brands.
The U.K. and Japan in recession
February 15, 2024 12:45 - 7 minutes - 11.8 MBFrom the BBC World Service: Japan’s economy unexpectedly shrank for the second quarter in a row last year, meaning the country has slipped into recession and lost its spot as the world’s third largest economy. Meanwhile, the U.K. also fell into recession during the final three months of last year. Plus, thousands of vehicles shipped by Volkswagen have been held up at U.S. ports over a Chinese-made component.
Come to the cabaret
February 14, 2024 15:04 - 13 minutes - 11.8 MBCan Can Culinary Cabaret is nestled in Seattle’s historic Pike Place Market. But the COVID-19 pandemic radically transformed the business, its audiences and the performers who keep the show going. Today, we’ll hear about its return to something that resembles “normal” and what that path was like for onstage storytellers and artists. We’ll also look at how U.S. inflation figures and interest rates affect economies around the globe.