Marketplace Morning Report
2,364 episodes - English - Latest episode: 28 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
This Valentine’s Day, a not-so-sweet chocolate economy
February 14, 2024 13:14 - 6 minutes - 11.8 MBLovers and chocolate lovers beware: If you’re eyeing a heart-shaped box of chocolates for Valentine’s Day, those bonbons are going to come at a cost. Cocoa prices recently hit an all-time high and sugar prices have spiked too. Rather bittersweet, huh? But first, Tuesday’s inflation data headed in the wrong direction — and markets were not pleased. Plus, why does Walmart want to buy bargain television brand Vizio?
Indonesia heads to the polls — and it’s all about the economy
February 14, 2024 11:49 - 6 minutes - 11.8 MBFrom the BBC World Service: Indonesia is South East Asia’s largest economy and the world’s third-largest democracy. Today, citizens vote in the presidential and legislative elections that are dominated by economic issues such as future growth and job opportunities. Meanwhile, farmers in India continue protests over the prices they receive for their goods. And we hear from Racheal Kundananji, the soccer player who has set a new transfer record with her move to San Francisco’s Bay FC.
Germany goes on defense
February 13, 2024 16:07 - 7 minutes - 11.8 MBEarlier this morning, the Senate approved a $95 billion aid package for Israel and Ukraine. Meanwhile, German Chancellor Olaf Scholz says Europe’s defense industries must switch toward arms productions. Manufacturers are struggling to meet demand for ammunition, as the war in Ukraine continues and fears of what another Donald Trump presidency could mean for U.S.-Europe security ties are renewed. Also: inflation lingers, and Airbnb adds yet another fee.
The uglier sides of an industry centered on beauty
February 13, 2024 12:41 - 7 minutes - 11.8 MBModeling may seem glamorous, but the realities of the industry can be far from picture-perfect. Today, as part of our Econ Extra Credit series, we take a hard look at what is being done to protect models and hold the agencies that sometimes recruit and exploit them accountable. Also: the most watched program in U.S. history and a brief, planned Valentine’s Day strike among ride-share drivers.
Farmers threaten protests in India
February 13, 2024 12:08 - 6 minutes - 11.8 MBFrom the BBC World Service: Police in Delhi banned all public gatherings after farmers threatened major demonstrations in India’s capital. Polish farmers stopped several Ukrainian trucks and emptied some of their grain cargo to protest what they say is unfair competition. And couples in the United Kingdom planning to grab takeout for a cozy Valentine’s night in may be disappointed as thousands of delivery drivers plan to go on strike.
Economists seem to be changing their tune
February 12, 2024 15:33 - 8 minutes - 11.8 MBRecession? What recession? Many economists predicted an economic downturn last year and were wrong. More are optimistic about the economy for the year ahead, but some now think that the Fed is keeping interest rates too high. We’ll discuss. Also on the show: We’ll examine how Ireland’s government and citizens are addressing booming migration.
The great CPA shortage
February 12, 2024 12:47 - 8 minutes - 11.8 MBTax season is here. But if you’ve been putting off finding an accountant, good luck. Between a wave of retirees and a drop in the number of people graduating with accounting degrees, the profession is struggling to staff up — and many are turning away work. We’ll also take a look at what sorts of global risks economists are concerned about and what to make of rising mortgage debt.
Is Starlink in Russian hands?
February 12, 2024 11:59 - 8 minutes - 11.8 MBFrom the BBC World Service: It’s alleged that Starlink, the internet connection system made by Elon Musk-owned SpaceX, is being used by Russian troops. Musk has previously made assurances that Russia wouldn’t be able to use to it. Then, construction of a new ammunition factory gets underway in Germany, and Ireland’s government struggles to provide housing and other necessities for migrants.
Playing it safe
February 09, 2024 15:15 - 8 minutes - 11.8 MBWe’ll hear from Ad Age’s Jeanine Poggi about this year’s Super Bowl commercials: why brand are trying to keep their campaigns controversy-free and what representation looks like for the country’s most-watched event. Plus, inflation data analysis with FHN Financial’s Chris Low and an update on nuclear fusion technology from Europe.
Senators grill big pharma execs on drug prices
February 09, 2024 13:08 - 8 minutes - 11.8 MBThe Senate Committee on Health, Education, Labor, and Pensions held a hearing yesterday for three pharmaceutical CEOS on “outrageous” drug prices when compared to other countries. Plus, Super Bowl ad trends ahead of the weekend’s big game and results from the 2022 U.S. Trans Survey.
Farmers protests spread to Italy
February 09, 2024 12:11 - 7 minutes - 11.8 MBFrom the BBC World Service: Protests that started in Poland have spread across Europe, and now Italian farmers are threatening to bring Rome to a standstill. They say they’re taking a stand against red tape, higher costs and competition from cheaper foreign imports. And, millions of people across Asia are getting ready for Lunar New Year celebrations, which start tomorrow. But amidst the fun, fears over the economy — particular in China — threaten to dampen the mood.
High heat harms workers in Southeast Asia
February 08, 2024 16:15 - 8 minutes - 11.8 MBThousands of workers in Southeast Asia are forced to work in scorching temperatures. A recent study showed dangerous effects of constant heat on at-risk workers, including health problems. We’ll visit Cambodia’s brick kilns to learn more. Plus, Sen. Amy Klobuchar talks child internet safety, and KPMG’s Diane Swonk dissects the job market.
Disney is (re)entering its video game era
February 08, 2024 13:50 - 8 minutes - 11.8 MBDisney announced it will take a $1.5 billion stake in Epic Games — the creator of popular game platform Fortnite — in an effort to diversify while its linear media struggles. The partnership means we can expect Epic-created games featuring Disney characters in the not-too-distant future. Plus, Federal Reserve higher-ups signal they will take their time on rate cuts and U.S. imports of Chinese goods fell last year.
Prices fall in China
February 08, 2024 12:14 - 8 minutes - 11.8 MBFrom the BBC World Service: Consumer prices in China have seen their steepest fall since 2009, adding to deflation woes. In Pakistan, millions are heading to the polls to vote in a new government. And a study on working conditions in Cambodia’s garment and brick industries highlights the risks climate change poses to those already struggling in hot countries.
Call it “manageable”
February 07, 2024 15:11 - 7 minutes - 11.8 MBAt least Treasury Secretary Janet Yellen did when describing banks with souring commercial real estate investments. Stock in New York Community Bancorp, a regional bank with commercial real estate loans, fell nearly 30% on Tuesday, and Moody’s downgraded the bank’s credit grade to “junk” status. We examine. Also on the program: why some college athletes are looking to unionize, and why people in India are lining up for work in Israel.
Spanish farmers join Europe-wide protests
February 07, 2024 14:26 - 6 minutes - 11.8 MBFrom the BBC World Service: Spanish farmers have joined a wave of protests sweeping Europe. They’re demanding more support from the EU and their government and say they’re fed up with high costs and stringent environmental standards. Then, thousands of Indian men have lined up to apply for construction jobs in Israel, which relies heavily on migrant labor — especially since revoking Palestinian work permits since the war in Gaza.
“Diversity is simply good business”
February 07, 2024 12:45 - 7 minutes - 11.8 MBA new national survey finds that a majority of c-suite executives say diversity initiatives are important for positive business outcomes. The findings come as recent headlines and high-profile business leaders have criticized diversity, equity and inclusion (or DEI) work, and the support comes from across the political spectrum. Also: new SEC oversight for firms like hedge funds and a one-stop shop for sports streaming.
The regional bank stock ick
February 06, 2024 14:48 - 6 minutes - 11.8 MBStock in New York Community Bank plunged last week after it said it was setting aside additional funds as a cushion in case some of its commercial real estate loans went bad. The value of commercial office space is falling as more people work from home, and investors are still skittish. Plus, Canada extends a ban on noncitizen housing purchases. And we’ll hear how one flour mill is rebuilding a year after the devastating Turkey-Syria earthquake.
What does it take for a makeup brand to make it?
February 06, 2024 13:16 - 6 minutes - 11.8 MBIt’s earnings week for big beauty brands: affordable E.l.f. Beauty and luxury brand Estée Lauder, which recently announced thousands of job cuts. But plenty of companies and entrepreneurs are throwing their hat into the cosmetics ring, and Gen Z is forcing many to evolve. Also, President Xi Jinping is set to talk with financial advisors about China’s stock market, and Lyft unveils a pay transparency play for drivers.
The economics behind farewell tours
December 01, 2023 15:34 - 8 minutes - 11.8 MBThe band Kiss will play what it’s calling its last ever show this weekend in New York City. Thing is, the band has said farewell before — on a tour more than 20 years ago. Turns out, saying (or kissing) goodbye is a big business. Also on the show: Meta’s lawsuit against the FTC, a big month for bonds and a fund for climate change impacts.
What Fed officials are thinking — and saying
December 01, 2023 12:44 - 8 minutes - 11.8 MBFederal Reserve Chair Jerome Powell speaks later today, after other Fed officials have been particularly chatty. This is before a quiet period that precedes the next meeting on interest rates this month. What sort of economic portrait have they been painting? Then, OPEC+ essentially maintains the status quo and we look at some of the barriers to accessing and affording HIV-prevention medication PrEP.
Germany’s economy got a break, but maybe not the kind it’s looking for
December 01, 2023 12:24 - 8 minutes - 11.8 MBFrom the BBC World Service: Germany is looking at an $18 billion gap in next year’s budget because of a court decision last week on a German fiscal rule known as the debt brake. Then, Brazil says it’s deploying military reinforcements to its northern border, as tensions rise between its neighbors Venezuela and Guyana over a disputed oil-rich region. And later: a look at the big business of advent calendars.
EVs are having a reliability problem
November 30, 2023 15:21 - 8 minutes - 11.8 MBConsumer Reports is out with a survey finding that EV owners had roughly 80% more problems than owners of conventional vehicles. Key problems included issues with charging and batteries. To the start the show, we parse out findings of the report. Then, chief marketers worry about the prospects of a recession (yet again) and music service Mdundo eyes growth in Africa.
How holiday advertising is different this year
November 30, 2023 13:07 - 7 minutes - 11.8 MBWe’re in the thick of holiday shopping season. But as companies compete for consumer dollars and distinguish themselves through advertising, they’re taking inflation into account and trying to play to customer emotions. Plus, X’s Elon Musk has some choice words for boycotting advertisers, and celebrities face potential liabilities when promoting financial investments.
Can you be the president of a climate summit and the boss of a state oil company?
November 30, 2023 12:07 - 8 minutes - 11.8 MBFrom the BBC World Service: The appointment of the COP28 summit’s president, Sultan Ahmed Al-Jaber, has been controversial, as he’s also the CEO of Abu Dhabi’s state oil company. We take a closer examination. Then, the European Commissioner for Competition, who has taken on tech giants like Alphabet and Amazon, speaks to us about AI regulation. And as African music has gained global popularity in recent years, Kenya-based music service Mdundo aims to double its 25 million monthly users.
The Munger, the myth, the legend
November 29, 2023 15:49 - 9 minutes - 11.8 MBCharlie Munger, business partner to Warren Buffett and vice chairman of Berkshire Hathaway, died on Tuesday at the age of 99. Today, we look back at the wisdom and humor of the Oracle of Omaha’s right-hand man. Plus, the U.S. economy grew faster than we thought, and China makes a bet on green energy. Also: a refresher on campaign finances rules.
One year on, how has ChatGPT changed the way we work?
November 29, 2023 12:30 - 7 minutes - 11.8 MBIt’ll be one year this week since ChatGPT was released to the public. While there was handwringing about waves of jobs being replaced by bots, that hasn’t quite happened. We’ll take a look at how human workers are using generative AI (or not). We’ll also hear why home prices in Detroit have surged and how a Supreme Court case could upend how the Securities and Exchange Commission does business.
Could Uber and London’s black cabs merge lanes?
November 29, 2023 12:02 - 9 minutes - 11.8 MBFrom the BBC World Service: Over 10 years ago, Uber shook up the United Kingdom’s taxi scene. Now, the company says it will open up its platform to London’s black cabs early next year. Plus, 41 Indian construction workers have been rescued from a collapsed tunnel in the Himalayas after being stuck for 17 days. Then, China is positioning itself to dominate the global supply of green technology.
Need is up at food banks this holiday season
November 28, 2023 15:42 - 8 minutes - 11.8 MBThe weeks around Thanksgiving and Christmas are often some of the busiest times of the year for food banks. And demand is up this year, as holiday expenses compound the stress that inflation and the end of pandemic-related federal benefits have placed on household budgets. Also on the program: a fast fashion IPO and a first for sustainable aviation.
The hottest new concert venue near you might just be a movie theater
November 28, 2023 12:49 - 7 minutes - 11.8 MBIf you couldn’t make it to some of the biggest concerts of the year, no problem. Beyoncé’s Renaissance film comes out this Friday, which follows Taylor Swift’s highly popular Eras Tour film. The flicks provide another boost to the artists but also give movie theaters the chance to profit off of ticket sales and themed food or merchandise. Also: hopes for Giving Tuesday and a preview of holiday toy sales.
A flight powered by cooking oil takes to the skies
November 28, 2023 12:19 - 7 minutes - 11.8 MBFrom the BBC World Service: The first transatlantic flight powered only by what’s being called “sustainable aviation fuel” is due to take off from London today. Plus, a Swedish court has ruled that the country’s transport authority has to find a way to get license plates to Tesla, because postal workers are on strike. Then, TikTok’s owner ByteDance says it’s downsizing its gaming division.
A “breakthrough” in AI safety guidelines
November 27, 2023 14:33 - 8 minutes - 11.8 MBMany of the world’s biggest economies have agreed to non-binding safety standards for artificial intelligence. While the joint guidelines address cybersecurity, they don’t extend to key issues like economic disruptions or potential threats to humanity. We dig into what this means as governments struggle to keep up with the pace of AI development. Plus, nothing like a U.N. climate summit for pitching expanded oil and gas deals.
What to watch for at COP28
November 27, 2023 12:30 - 7 minutes - 11.8 MBThe United Nations’ annual climate summit, COP28, will kick off in Dubai later this week. Government and private-sector leaders will convene to outline steps to curb emissions and limit the impacts of global warming. What are some of the things we’ll be looking for? But first, we’ll unpack Black Friday sales and give a preview of Cyber Monday spending. Also: more problems in China’s rocky financial sector.
UAE planned to use climate talks to strike oil deals
November 27, 2023 11:48 - 7 minutes - 11.8 MBFrom the BBC World Service: Leaked documents obtained by the BBC suggest that the United Arab Emirates has been using its role as host of COP28 as an opportunity to strike oil and gas agreements. Then, Chinese officials have launched an investigation into one of the country’s biggest shadow banks. Plus, analysts say Zimbabwe has become the world’s leading blueberry exporter.
Some housing hope courtesy of new homes
November 24, 2023 14:48 - 7 minutes - 11.8 MBEarlier this month, the Commerce Department reported that construction of single-family homes was up 13% from October of last year. All that new construction is supporting both the housing market and generating business for the home construction supply chain. We take a closer look. Plus, consumers continue splurging on experiences and a relatively narrow strike in Sweden against Tesla has spread to multiple industries.
How different generations are spending this holiday season
November 24, 2023 12:55 - 7 minutes - 11.8 MBMore than 180 million people are expected to shop either in store or online this holiday weekend, according to the National Retail Federation. While nearly everyone regardless of age is likely to experience sticker shock, we’ll preview where older adults and younger generations are most likely to splurge. And later, we’ll take a closer examination at Saudi Arabia’s investment in soccer.
Strikes in Sweden against Tesla are “insane,” Elon Musk says
November 24, 2023 12:28 - 7 minutes - 11.8 MBFrom the BBC World Service: Several trade unions in Sweden are striking against Tesla over the company’s refusal to sign a collective agreement on pay and conditions for its staff. Other unions are supporting the strike, including the Union of Service and Communication Employees, stopping postal and delivery services to Tesla. In Europe and the United Kingdom, unions and activists are taking action against Amazon, aiming to use strikes to prevent merchandise from reaching Amazon parcel locke...
Barriers for Indigenous workers in tech start early
November 23, 2023 15:01 - 7 minutes - 11.8 MBA recent report finds that Native people in tech are underrepresented in the high-paying sector. Just 20% of high schools on reservations offer computer science courses, the research finds. What can be done to close that gap? Plus, European beekeepers try to defend against an invasion of Asian hornets.
What’s going on at the FDIC?
November 23, 2023 14:17 - 8 minutes - 11.8 MBThe chair of the FDIC was grilled during Congressional hearings last week following reports by the Wall Street Journal on allegations of sexual harassment and racial discrimination at the agency. We’ll dig into the responses to and potential consequences of the alleged toxic culture. Plus, we hear what’s being discussed in earnings calls and learn how Ukrainian women are stepping up to fill traditionally male industries.
Is the Netherlands heading for Nexit?
November 23, 2023 11:49 - 6 minutes - 11.8 MBFrom the BBC World Service: In the Netherlands, far-right politician and EU critic Geert Wilders has claimed a shock election victory; immigration and the economy were major factors. Also on the program: Asian hornets are spreading fast across Europe, where the insects are threatening the production of honey and fruit crops. Then, following Russia’s invasion, millions of Ukrainian women have taken on new roles that were previously done by men, including mining.
More Americans dip into retirement funds for emergencies
November 22, 2023 14:20 - 8 minutes - 11.8 MBFidelity Investments reports that workers taking out a so-called “hardship withdrawal” from their retirement accounts — one used to cover emergency expenses — ticked up in the third quarter. Thing is, those who make those withdrawal are the ones most likely to need the cash in their older years. We explore the consequences. Plus, what durable goods orders can reveal about the economy and how kimchi grew to be a global phenomenon.
Why an Andy Warhol sculpture bombed at auction
November 22, 2023 12:48 - 7 minutes - 11.8 MBLast week, an Andy Warhol piece up called Bomb — literally a silver-painted bomb — failed to sell because its reserve wasn’t met. Why couldn’t it fetch a higher price? We’ll discuss and take a closer look at the high-end art world. Also, OpenAI exemplifies what can happen when employees threaten to quit en masse, and a major settlement shakes up crypto exchange Binance.
Sam Altman returns to OpenAI
November 22, 2023 12:12 - 7 minutes - 11.8 MBFrom the BBC World Service: The drama continues at artificial intelligence business OpenAI, where co-founder Sam Altman is set to return as boss just days after he was fired by the board. And, in the Netherlands we hear voters’ concerns about inflation as they head to the polls. Meanwhile, South Korea’s traditional cabbage-based dish, kimchi, is finding favor beyond Asia. We take a look at the growing global market.
The forecast calls for … more changing forecasts
November 21, 2023 15:59 - 8 minutes - 11.8 MBThe Index of Leading Economic Indicators is supposed to give insight into where the economy’s headed. It’s been pointing to a recession for 19 months, but that economic slowdown has yet to materialize. So what are economists predicting now? We’ll also hear about the slim possibility of airline strikes. And later: Polish drivers blockade trucks at the Ukrainian border.
X sues Media Matters over antisemitism report
November 21, 2023 13:05 - 7 minutes - 11.8 MBElon Musk’s social media platform X, formerly known as Twitter, has filed a lawsuit against nonprofit Media Matters after it released an analysis showing that ads on the platform appeared next to antisemitic content. Media Matters’ report prompted some companies to pull advertising. We dig in. Then, from Marketplace Morning Report’s “Skin in the Game” series, up-and-coming video game developers share their dream jobs.
Is fashion waste making Cambodian workers sick?
November 21, 2023 12:47 - 7 minutes - 11.8 MBFrom the BBC World Service: A human rights group in Cambodia says that clothing waste from big brands like Adidas, Walmart and others are being burnt as cheap fuel in factories making bricks. Plus, a look at why China has particular concern for Zambia’s debt restructuring plan.
On that other part of the Federal Reserve’s job
November 20, 2023 15:33 - 7 minutes - 11.8 MBA key priority of the Federal Reserve is to stabilize prices, which it’s trying to do by raising interest rates. But the Fed is also tasked with maximizing employment, and economists met at the Boston Federal Reserve this weekend to discuss just that. Then, we chat about the cost of a Thanksgiving meal and hear how minors in the U.K. are able to illicitly work for food delivery apps.
Can parents stomach higher child care costs?
November 20, 2023 13:28 - 7 minutes - 11.8 MBThe deadline for child care providers to spend over $37 billion in federal pandemic-era subsidies is more than a month behind us. Now that the money’s gone, providers are trying to make up the difference and some are contemplating upping prices. But parents are already being squeezed. Also: a hectic weekend for former ChatGPT CEO Sam Altman and a boost to local economies courtesy of outdoor recreation enthusiasts.
Will Milei’s radical policies cure Argentina’s economic malaise?
November 20, 2023 12:02 - 7 minutes - 11.8 MBFrom the BBC World Service: Argentina has a chosen a new president — the libertarian Javier Milei, who has some radical ideas about how to tame hyperinflation, such as dollarization. We take a look at how those plans might work. Plus, how many delivery riders are underage? A BBC investigation has found a black market trade in delivery app accounts in the United Kingdom that allows children to sign up.
A view of APEC from overseas
November 17, 2023 15:48 - 8 minutes - 11.8 MBThe Asia-Pacific Economic Cooperation summit, or APEC, concluded this week with a major focus on the meeting between President Joe Biden and China’s President Xi Jinping. We’ll dig into how the meeting received by Chinese news outlets and hear how Japan tried to manage its fraught relationship with China. Then, we’ll take a look at holiday shopping and tribal leader policy priorities.