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
The future of the auto industry
September 15, 2023 14:40 - 7 minutes - 11.8 MBThe UAW started a limited strike today at all three big automakers in the U.S. But this strike is about more than fair wages and benefits — the future of American-made cars, and how soon they can go electric, hangs in the balance. Plus, media mogul Byron Allen has offered Disney $10 billion for ABC. We’ll talk about why CEO Bob Iger might be inclined to take the deal.
The danger of VC-backed insurance
September 15, 2023 11:35 - 8 minutes - 11.8 MBA new trend in health-tech start-ups is to offer low premiums for insurance coverage and burn through billions of venture capital to stay in the green. When they crash, these firms leave customers without a way to access care or medication. Do regulators need to crack down? Plus, some public universities up their tuition and the UAW goes on strike.
France’s Carrefour flags ‘shrinkflation’
September 15, 2023 10:49 - 7 minutes - 11.8 MBFrom the BBC World Service: Have you noticed products that you buy getting smaller, while the price remains the same? It’s called “shrinkflation” and French supermarket giant Carrefour is putting labels on such goods to alert customers to it. The World Health Organization is warning that survivors of flooding in Libya remain in danger from contaminated flood water and a lack of medical supplies. It’s Friday, but how do you have a night out in a war zone? Russia launched its full-scale invasi...
Is the “last mile” of inflation actually the hardest?
September 14, 2023 14:39 - 6 minutes - 11.8 MBThe Wall Street Journal, Bloomberg and even banks themselves have said the “last mile” of inflation will be hardest to beat. But research doesn’t really shows that. So what’s with the hype? Plus, chip designer Arm’s valuation is officially $54 billion, making it the biggest IPO of the year. We’ll also hear about Americans over 60 who still owe student loans.
Car repairflation
September 14, 2023 11:52 - 7 minutes - 11.8 MBOne spending category that is seeing inflated costs compared to last year, according to the August CPI, is motor vehicle repairs. We’ll visit a mechanic to find out why. Hint: New car parts are a lot more expensive than they used to be. Plus, tech giants met with congressional leaders to talk AI regulations and some C-suite execs see climate change disruptions as, frankly, not their problem.
Protests erupt in Syria
September 14, 2023 11:49 - 8 minutes - 11.8 MBFrom the BBC World Service: The long-running civil war in Syria has led to fresh protests over the country’s crumbling economy; extreme inflation and a lack of basic supplies has pushed thousands to take to the streets. A major Australian property developer has apologized after calling for unemployment to rise in Australia by 50% so that people are reminded that they work for the employer — not the other way around. This weekend, Singapore plays host to Formula One’s night race and organizer...
Are the arts a worthwhile investment?
September 13, 2023 14:38 - 7 minutes - 11.8 MBWaterville, Maine used to be home to a factory and mill. But when jobs left, the economy suffered. Now, Waterville’s Colby College is spending millions to transform the town into a haven for performing and visual arts. Will their investment pay off? Plus, gas prices spiked August inflation calculations, but that doesn’t spell bad news for the overall economy.
Out with the old, in with the flu
September 13, 2023 11:44 - 8 minutes - 11.8 MBConsumers spent $1.8 billion last year on decongestants, but next year might look different. Phenylephrine, a key ingredient found in most oral decongestants, was recently found to have zero efficacy. Basically, when it comes to un-stuffing your nose, it’s just as good as a sugar pill. Plus, video game developers in China are experimenting with AI and two states’ pension funds are suing Fox.
US investors target another English soccer club
September 13, 2023 11:23 - 7 minutes - 11.8 MBFrom the BBC World Service: American interest in the top level of English soccer continues. Miami investment firm 777 Partners is in talks to buy Everton, based in the city of Liverpool. If the deal goes through half of the clubs in England’s Premier League will have U.S.-based owners. Plus, Bernard Looney, chief executive of oil major BP, has resigned abruptly amid a review of his personal relationships with colleagues. And, why French regulators are worried about radiation levels from the ...
We don’t pay teachers enough
September 12, 2023 14:56 - 7 minutes - 11.8 MBOnly a third of teachers think their salary is adequate, according to a recent survey. Could raises be key to keeping teachers from quitting? Plus, the New York Fed says pessimism about credit, income, and the odds of getting laid off or fired is up. We’ll discuss why that gloomy outlook doesn’t match official reports of strong employment and cooling inflation.
What does it take to fix Main Street?
September 12, 2023 11:45 - 7 minutes - 11.8 MBIn 2010, “Marketplace Morning Report” host David Brancaccio featured his hometown in a documentary about better ideas for the economy. It opened the film as an example of a place sorely needing solutions. A dozen years later, Waterville, Maine is experiencing the benefits of reinvestment. We’ll talk about how. Plus, Google’s antitrust trial begins today.
The biggest company you’ve never heard of is set to join the Nasdaq
September 12, 2023 10:59 - 6 minutes - 11.8 MBFrom the BBC World Service: U.K.-based Arm Holdings is set to launch on the Nasdaq this week. BBC’s Simon Jack explains why they’re probably the biggest company you’ve never heard of. Plus, caterers are facing increasing pressure to host extravagant weddings due to social media, as BBC’s Elizabeth Hotson reports.
SNAP’s work requirement age just went up
September 11, 2023 14:35 - 7 minutes - 11.8 MBAdjustments to SNAP — part of debt ceiling negotiations earlier this year — will start phasing in soon. Among them is a higher age cutoff for work requirements, which will go from 49 to 54 by 2024. Hundreds of thousands may lose SNAP benefits. Plus, UPS and FedEx rate hikes signal a back-to-normal supply chain, and we’ll recap Biden’s visit to Vietnam.
Paying the way to market dominance
September 11, 2023 11:53 - 7 minutes - 11.8 MBDid you know that Google pays other tech companies billions to remain the default search engine? The Justice Department says that’s abuse of monopoly power, but Google maintains it’s normal practice in the tech industry. Tomorrow, the antitrust trial begins. Plus, the UAW is just days away from a possible strike.
Devastation in the Atlas Mountains
September 11, 2023 11:11 - 7 minutes - 11.8 MBFrom the BBC World Service: As the death toll mounts following the earthquake in Morocco, businesses in Marrakesh are asking tourists not to turn their backs on them. The BBC’s Anna Holligan reports from Marrakesh. Also, with President Biden visiting, Vietnam has ordered $8 billion worth of jets from Boeing. Finally, Vivienne Nunis reports from Manchester, England, where the world’s best florists have congregated for the World Cup of Flowers.
Little hints from the Fed
September 08, 2023 14:25 - 7 minutes - 11.8 MBFederal Reserve officials are keeping a low profile ahead of its upcoming meeting on interest rates. But some economists are playing detective — following the crumbs central bankers have left and trying to deduce whether rates will go up again. Plus, while U.S. office spaces remain empty, things look different Singapore. We’ll visit a business district during the lunch rush.
President Xi skips G20, China broadens iPhone ban
September 08, 2023 11:33 - 7 minutes - 11.8 MBChina’s president Xi Jinping won’t be at this weekend’s G20 summit in India. Could his absence be due to geopolitical tensions or economic troubles at home? We’ll check in with Marketplace’s China correspondent Jennifer Pak. Plus, Apple feels the fallout from further iPhone bans for Chinese government employees and the services sector has a sunny economic outlook.
Workers at LNG projects go on strike
September 08, 2023 11:03 - 8 minutes - 11.8 MBFrom the BBC World Service: Workers are striking at Chevron Australia Liquid Natural Gas projects. The action could disrupt output from facilities that account for over 5% of global supply. Indian authorities have come in for criticism over efforts to spruce up the capital Delhi ahead of the G20 meeting this weekend. Unlike in the U.S., workers in Singapore have been returning to the office en-masse and city centers are booming. In London, 140,000 people have visited Sotheby’s auction house ...
No more iPhones for Chinese government officials
September 07, 2023 14:30 - 7 minutes - 11.8 MBChina has barred government officials from using foreign-branded devices, according to the multiple published reports. Is the move because China’s own smartphone company is catching up to U.S.-designed ones, or is it a result of still-icy U.S.-China trade relations, especially when it comes to tech? Plus, as part of this week’s global look at real estate, we’ll visit Mumbai.
Cracking down on stolen wages
September 07, 2023 11:46 - 7 minutes - 11.8 MBWage theft — employers paying less than the minimum for time worked — is believed to be extremely common across the U.S. Often, rules against it are hard to enforce. We’ll visit one county that’s tackling the issue by putting food permits on the line for restaurant owners who won’t pay up. Plus, Google has new political advertising AI rules and 74 million Americans will gamble on NFL games this season.
Can Deezer shake-up the streaming model?
September 07, 2023 11:22 - 11 minutes - 11.8 MBFrom the BBC World Service: French streaming platform Deezer and Taylor Swift’s label Universal Music have agreed a new plan for the way artists receive royalties. It’s based on the idea of prioritizing professional musicians over amateurs, and streams of ambient sound and white noise. As Deezer puts it: Harry Styles deserves a bigger reward than the sound of a washing machine. But will it shake-up the market? We speak to Deezer’s chief operating officer Gitte Bendzulla. Plus, earlier this w...
What does your car know about you?
September 06, 2023 14:48 - 7 minutes - 11.8 MBA new study from the Mozilla Foundation is looking at what types of data carmakers collect, and how they use it. It’s one thing if your car can guess what music you like, but its another for it to have medical information. How much is too much? Plus, a look at how empty office spaces are being repurposed in New York City.
IPO temperature check
September 06, 2023 11:41 - 7 minutes - 11.8 MBRecession concerns, the war in Ukraine and more have prevented companies from going public for a while. Those risks, while not gone, are now old news. Could it be the perfect time for chip company Arm to launch its initial public offering? It could shock the IPO market out of a sluggish period. Plus, JCPenney is getting a billion dollar remodel. We’ll hear from its CEO.
Cloudy with a chance of recession
September 05, 2023 14:37 - 6 minutes - 11.8 MBWhile a recession isn’t completely out of the question, the odds are certainly shrinking. We’ll do the economic forecast with Julia Coronado, president and founder of MacroPolicy Perspectives. Plus, a visit to London where remote work is changing the landscape of a district that used to be bustling with bankers.
Can green investing change the world?
September 05, 2023 11:25 - 6 minutes - 11.8 MBIn recent years, ESG funds — that’s environmental, social, government funds — have become popular for investors who are concerned about the impact of their portfolio beyond the bottom line. But could investing in green tech or net zero initiatives really help the fight against climate change? We’ll also look at women’s workforce participation and Spectrum’s clash with Disney.
Can Turkey broker a deal with Russia to re-open grain shipments?
September 05, 2023 11:01 - 6 minutes - 11.8 MBFrom the BBC World Service: Russian President Vladimir Putin has said that the landmark Black Sea grain deal with Ukraine will not be restored until the West meets Moscow’s demands on its agricultural exports. BBC’s Victoria Craig joins us from Ankara in Turkey to discuss the latest developments. Also, Sarah Dalton, Head of the Doctors’ Union in New Zealand, explains why thousands of her members are going on strike for the first time ever. Finally, the BBC’s Leanna Byrne explores the impact ...
25 years of Google: the brand so big it became a verb
September 04, 2023 14:03 - 7 minutes - 11.8 MBFrom the BBC World Service: Google was founded 25 years ago today. We hear from Elizabeth Linder, who started her career at Google and later became an executive at Facebook. Also, BBC’s senior Africa correspondent, Anne Soy, reports from Kenya, where African heads of state are gathering to discuss the continent’s approach to climate change. And finally, BBC’s Leanna Byrne reports on long queues for Italian cabs after the taxi drivers’ unions resist reforms aimed at increasing licenses.
Video games for all!
September 04, 2023 12:58 - 7 minutes - 11.8 MBIn the spring, “Marketplace Morning Report” host David Brancaccio visited Gameheads, a video game developing and mentorship program in the Bay Area. We’ll travel back for their end of summer celebration and hear what students have been working on, including projects that explore gentrification, LGBTQ relationships and emotional wellbeing. Plus, support for labor unions is up in the U.S.
Labor unions mean better wages for all
September 04, 2023 11:25 - 6 minutes - 11.8 MBThis Labor Day, we’re looking at a new report from the Treasury department about the impact of labor unions on wages. The report found union membership boosts pay 10-15%, and gains can be even more significant for underrepresented groups. After that, we’ll do the odds of an economic soft landing, and travel to Italy, where getting a cab is becoming impossible.
Skin in the Game: Lessons from the video game industry
September 01, 2023 19:32 - 25 minutes - 11.8 MBVideo games are bigger than movies and music combined. What can the games — and the vast industry that surrounds them — teach us about economics, business, money and careers? We set out to answer this question by talking to folks inside the industry, as well as those trying to break into it. We visited the nonprofit mentoring program in Oakland, California, called Gameheads where, starting in high school, people go from playing video games to making them. Follow along with our podcast here, ...
The “good kind” of unemployment increase
September 01, 2023 14:59 - 7 minutes - 11.8 MBNew hiring data out today shows an increase in unemployment, but more Americans heading into the work force. Plus, a judge blocks an Arkansas law that would require proof of age for social media accounts, and an AI pop star raises copyright concerns.
Could secondhand shopping ever beat out fast fashion?
September 01, 2023 11:45 - 6 minutes - 11.8 MBFans have flocked to fast fashion retailers for their one-and-done summer tour outfits, but there’s a growing eco-friendly movement to shop secondhand. Plus, climate change drives up construction costs, and the launch of our new “Skin in the Game” podcast following the multi-billion-dollar video game industry.
Paris bans rented e-scooters
September 01, 2023 11:00 - 6 minutes - 11.8 MBFrom the BBC World Service: A ban on electric scooters for hire has come into force in Paris. It follows a referendum in April in which residents of the French capital voted to remove them. If nothing is done to redress Africa’s huge debt burden, the consequences will be felt far outside the continent, according to a report from NGO, the ONE campaign. A major music label has signed a digital pop star, Noonoouri, whose voice has been made with the help of artificial intelligence; so what are ...
Inflation could be sticking around
August 31, 2023 14:56 - 9 minutes - 11.8 MBThe Fed uses the PCE index as its preferred measure of inflation. July’s just came out and, unfortunately, inflation seems here to stay for a bit. Plus, Switzerland is trying to shake its reputation as a place for shady money practices, and Best Buy swears electronics demand will be on the upswing soon, despite experiencing a year of low sales.
What’s so good about PCE?
August 31, 2023 11:52 - 8 minutes - 11.8 MBYou probably know about the CPI, which reports of changes in average prices for different goods. But the Fed is more interested in the PCE index — personal consumption expenditure — which tracks consumer spending plus money spent on behalf of consumers. For example, what you spend on healthcare plus what your insurance company spends. That comes out today. Plus, Biden wants to make more workers eligible for overtime pay.
Credit Suisse collapse gives UBS a major boost
August 31, 2023 10:58 - 7 minutes - 11.8 MBFrom the BBC World Service: Think back to the spring — the collapse of Silicon Valley Bank sent shockwaves through the sector, eventually rippling out to Europe and contributing to the end of Credit Suisse. Its rival UBS swooped in, acquiring it through a $3 billion government-backed bailout. UBS has now reported the biggest ever quarterly profit for a bank — a $29 billion gain linked to the takeover. But it’s still pressing ahead with some major cutbacks. Plus, we take a look at the latest ...
Eviction or not, these tenants are being pushed out
August 30, 2023 14:41 - 8 minutes - 11.8 MBEvictions are up, which can cause all sorts of health, job and education-related problems. But some renters don’t even get to have their day in court, thanks to landlords who illegally pressure tenants to move. Plus, Commerce Secretary Raimondo wraps up her “productive” visit to China, and Hurricane Idalia forced offshore oil platforms to evacuate.
What’s a fair price for blood thinners?
August 30, 2023 11:37 - 8 minutes - 11.8 MBFor the first time, Medicare will get to decide the “fair” price for certain medications, and then can negotiate with pharmaceutical companies to bring drug prices down. The first ten drugs under review were just announced. But could lower prices get in the way of medical innovation? Plus, the FDIC wants major regional banks to take on more long term debt.
The route most travelled: How migrants are making their way to Europe
August 30, 2023 11:04 - 8 minutes - 11.8 MBFrom the BBC World Service: The BBC joins the Tunisian Coast Guard as the route from the north African country to Italy becomes the busiest route for migrants into Europe. Meanwhile, army officers have declared control over the oil-rich country Gabon. The BBC’s Africa Editor Will Ross explains what impact this could have. Finally, house sales in the U.K. fall by 20 percent in a month. We hear why from Aneisha Beveridge from Hamptons, a U.K.-based estate agency.
Who’s gonna build a renewable energy grid?
August 29, 2023 14:44 - 8 minutes - 11.8 MBBiden’s Inflation Reduction Act allocated a big lump of money for expanding renewable energy sources. But it doesn’t guarantee that the U.S. has enough people willing and able to actually manufacture and implement clean energy infrastructure. Plus, the FDIC will consider new bank stability rules, and American exports could benefit from stronger U.S.-China relations.
A new-and-improved FAFSA
August 29, 2023 11:35 - 9 minutes - 11.8 MBCollege-bound students (and their parents) know how complicated it is to complete the FAFSA. But with college costs rising, students need Pell Grants and financial aid now more than ever. Good news for them: A more streamlined FAFSA will be available in December. Plus, why startups are pivoting to a new fundraising avenue.
London puts a price on pollution as it expands its ultra low emission zone
August 29, 2023 11:11 - 8 minutes - 11.8 MBFrom the BBC World Service: London has today expanded its ultra-low emission zone (ULEZ), which is designed to clean up air quality in the British capital. The BBC’s Olie D’Albertanson explains the financial knock-on effect for those living and working there. We also hear from Frank Levin, a former U.S. under-secretary of commerce for international trade, on the efforts being made to restore relationships with China. Lastly, the BBC’s João da Silva reports on concerns over gas price rises, w...
Relief, and some uncertainty
August 28, 2023 14:39 - 7 minutes - 11.8 MBJulia Coronado, president and founder of MacroPolicy Perspectives, says relief and uncertainty were in the air at last week’s Jackson Hole Economic Symposium. While signs point to positive progress when it comes to inflation and resilience, economists are still cautious. Plus, an oversupply of salmon in Alaskan fisheries has been bad for business.
4-day workweek, full-time pay
August 28, 2023 11:33 - 8 minutes - 11.8 MBUnited Auto Workers voted to authorize a strike on Friday if the big three Detroit automakers don’t meet their demands. Those include wage bumps, pension benefits and transitioning to a four-day work week without taking a pay cut. But how’s that related to the rise of EVs? Plus, Commerce Secretary Gina Raimondo aims to strengthen economic ties with China, and wine sales boom in Lebanon.
China’s Evergrande stock plunges 87% as trading resumes
August 28, 2023 11:11 - 8 minutes - 11.8 MBFrom the BBC World Service: China Evergrande Group’s shares resumed trading on Monday after a lengthy suspension, and investors in the real estate organisation took the chance to withdraw their money — the BBC’s Asia correspondent Mickey Bristow explains why. Plus, Lebanon is in the midst of a huge economic crisis: Inflation is in triple figures and the banking system has collapsed, but the wine industry is booming.
A carbon… vacuum cleaner?
August 25, 2023 14:27 - 1 minute - 11.8 MBFor years, companies have tried to invent tech that would make carbon capture viable. We’ll hear from Vijay Vaitheeswaran, global energy and climate innovation editor at The Economist, about the latest innovations in the field. Plus, Powell is set to kick off the Jackson Hole symposium, and the EU’s Digital Services Act goes into effect today.
In U.S. Steel sale, does the union get a say?
August 25, 2023 11:39 - 7 minutes - 11.8 MBThe United Steelworkers Union says they get to veto any buyer of U.S. Steel, and have a clear favorite contender. U.S. Steel says the union doesn’t have that power. We’ll get into the nitty-gritty of what might happen, including a strike. Plus, Subway got purchased by a private equity firm and and an ESPN live streaming deal that doesn’t require cable is in the works.
New EU rules to keep tabs on tech titans
August 25, 2023 11:32 - 8 minutes - 11.8 MBFrom the BBC World Service: The European Union’s Digital Services Act is coming into force today and some of the world’s tech giants will be directly affected. The world’s largest computer and video games festival, Games Com is wrapping up this weekend and a lot of the talk’s been about nostalgic titles and the possible take over of Activision Blizzard by Microsoft. The international leg of Taylor Swift’s Eras tour has kicked off in Mexico City. She’s on track to make one billion dollars fro...
New York City’s Airbnb crackdown is coming
August 24, 2023 14:24 - 11 minutes - 11.8 MBInside New York City’s looming Airbnb crackdown. Plus, NVIDIA’s gangbusters earnings report, Japan’s controversial discharge of radioactive waste water, and a check-in with struggling Chinese job seekers.
A new plan to prevent airplane collisions
August 24, 2023 12:17 - 8 minutes - 11.8 MBFollowing a troubling report on near-miss airplane accidents, the FAA is spending $120 million to help reduce the risk of collisions on airport runways. Plus, the bidding war for Yellow’s former trucking terminals, how businesses can better prepare for climate change, and New York’s coming crackdown on Airbnb rentals.