Marketplace

M-F 6:30 p.m.
  • Hosted by Kai Ryssdal

In-depth focus on the latest business news both nationally and internationally, the global economy, and wider events linked to the financial markets. The only national daily business news program originating from the West Coast, Marketplace is noted for its timely, relevant and accessible coverage of business, economics and personal finance.

Time magazine may have time on its side now

Sep 17, 2018

Marc and Lynne Benioff will pay $190 million for the magazine. The founder of Salesforce and his wife join a growing list of tech billionaires investing their new money in legacy media properties.

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The Trump administration is imposing tariffs on $200 billion more in Chinese goods starting next week, escalating a trade war between the world’s two biggest economies and raising prices on consumer goods ranging from handbags to bicycle tires.

The tariffs will start at 10 percent and rise to 25 percent starting Jan. 1.

President Donald Trump decided to begin taxing the imports — equal to nearly 40 percent of goods China sold the United States last year — after a public comment period. China has said it’s ready to impose retaliatory tariffs on U.S. goods.

What it takes to thrive in a constantly changing workplace

Sep 17, 2018

After spending 27 years with General Electric, Beth Comstock knows how to face change. The first woman to serve as vice chair at the company, she guided GE through some of the business world’s most difficult moments of change — breakthroughs, like the development of the internet and social media, and challenges, like the financial crisis and Sept. 11.

Tender Greens CEO weighs in on retail and food service

Sep 17, 2018

Tender Greens is a Los Angeles-based fast casual restaurant chain that you may not have heard of, but there's a good chance that the chain is hoping to come to a city near you. Operating in the competitive fast-casual sector of the restaurant industry, the chain wants to double its stores in the next several years, according to CEO Denyelle Bruno.

This post was updated on Sept. 17, 2018, at 4:25 p.m. Pacific Daylight Time.

Tariffs, but make it fashion

Sep 17, 2018

The Trump administration will impose tariffs on $200 billion worth of Chinese products next week as President Donald Trump first threatened in June. Hundreds of people have testified and submitted written comments about their impact, including Julia Hughes, president of the United States Fashion Industry Association. We'll chat with her, as well as Canadian aluminum producers stinging from the trade war. Plus: A conversation with Tender Greens CEO Denyelle Bruno.

The morning rush had slowed to a trickle at Los Angeles' main subway terminal, Union Station, but two police officers were still surveying the commuters on the escalator; first, with their eyes; then, through a laptop screen on top of a large black box on wheels.

“We wanted this to be obvious,”said Susan Walker, head of physical security for the Los Angeles Metropolitan Transportation Authority, standing nearby.

(Markets Edition) The president on Monday morning tweeted about the “strong bargaining position” granted by tariffs, and that “cost increases have thus far been almost unnoticeable.” There are also more retaliatory threats from China. Then, we look at body-scanning technology, which will debut in Los Angeles in November. Could other cities follow suit? Also, we look at Monday night’s Emmys and how NBC is under pressure to boost ratings for the awards show.

The Emmys air tonight on NBC. Celebrities aplenty, lots of red carpet and the gowns but fewer and fewer people have been tuning in to see who takes home the awards for best in television. The Emmys has been the least watched of the awards shows over the past few years. Now there’s pressure to change that. Struggling to recover ratings, the television academy signed a contract keeping the cost of broadcast rights from climbing unless there are steady ratings gains.

 

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(U.S. Edition) Switzerland’s financial watchdog group FINMA has uncovered corruption at the global bank Credit Suisse, which will now be overseen by an independent monitor. Then, McDonald’s workers in 10 cities are planning a lunchtime strike on Tuesday to protest alleged sexual harassment on the job. Also, we check in to see what states are doing to prevent kids from vaping after FDA commissioner Scott Gottlieb threatened to pull certain e-cigarettes from the market.

New IMF warnings with just six months until Brexit

Sep 17, 2018

(Global Edition) From the BBC World Service … It’s just six months until Brexit, and we’ll hear from U.K. Prime Minister Theresa May, who is doubling down on her controversial plan to divorce her country from the European Union. Then, Unilever wants to scrap its dual-national share structure and move the company’s headquarters to the Netherlands. But one of the major shareholders is encouraging others to vote no. Afterwards, can cities be ageist, sexist, or racist?

Here at Marketplace, we're doing a yearlong project on the 10-year anniversary of the financial crisis called Divided Decade. At the center of it, of course, were dodgy housing loans that were packaged and resold as seemingly solid investments. They were known as mortgage-backed securities. Here's where the tech comes in: Back in the '90s, a guy named Michael Osinski and his wife, Isabel, wrote software that made it super simple to bundle loans into a security.

Here at Marketplace, we're doing a yearlong project on the 10-year anniversary of the financial crisis called Divided Decade. At the center of it, of course, were dodgy housing loans that were packaged and resold as seemingly solid investments. They were known as mortgage-backed securities. Here's where the tech comes in: Back in the '90s, a guy named Michael Osinski and his wife, Isabel, wrote software that made it super simple to bundle loans into a security.

Last year was the costliest hurricane season on record in the U.S., and Hurricane Irma was the fifth costliest storm of its kind in history. Storms like Irma have costs that can keep hurting people for a long time. For instance, the damage it did to citrus trees in Florida. Marketplace host Kai Ryssdal checked in with Mark Wheeler, a citrus grower in central Florida, whose trees were damaged by Hurricane Irma, to see how business is one year after that storm.

The National Labor Relations Board has moved to roll back a rule that made union organizing a bit easier. The "joint employer" rule from the Obama era opened the way for workers at franchises, temp agencies and sub-contractors to bring the big companies at the top of the supply chain into their labor disputes. So, you could sue a big fast-food chain accused of blocking worker rights at its franchises, for instance, because the big company had some control over working conditions, scheduling, or union organizing activities.

Viewers of The Weather Channel may have noticed a lot of campaign ads this week as the midterm elections approach and more people tuned in to track Hurricane Florence.

According to NCC Media, the number of political advertisers on the channel grew from 59 last week to 83 this week.

Have you ever watched the crime show "CSI"? The forensic scientist, flashlight in hand, combs every inch of the murder scene for clues.

Forensic accountants do the same kind of work — but in the financial world. They investigate crimes like money laundering, fraud and tax evasion.  

“We’re like the accounting pathologists,” said Dawn Brolin, CEO of Powerful Accounting. “We come in and we will tell the story of how the crime happened.” The incriminating evidence comes from bank statements and ledgers. “Because numbers tell a story,” Brolin said. “Transactions tell a story.”

Holiday jobs outlook full of good cheer

Sep 14, 2018

We're now exactly 10 weeks from Black Friday, and while many American consumers are probably only just starting to think about their holiday shopping, the companies that sell us our holiday presents have been thinking about it for a while. And what they're thinking is that it’s going to be a strong retail season, and that they’re getting ready to hire a lot of workers.

When it comes to managing debt, it seems the last financial crisis wasn’t enough of a lesson.

Global debt is on track to hit new highs this year, according to Vitor Gasper, director of fiscal affairs at the International Monetary Fund.

In 2016, global debt hit a record 225 percent of world wealth, according to the IMF’s Global Debt Database, which tracks 190 countries from 1950 to the present day. That figure measures debt taken on by companies, governments, you and me.

Dear diary: The fall of Lehman Brothers in 2008

Sep 14, 2018

(Markets Edition) Hurricane Florence has arrived at the coast of North Carolina, brining with it 90-mile-per-hour winds and the potential to unload 20 to 40 inches of rain in some parts. We talks to a coastal economics specialist for more. Also, we talk to economist Diane Swonk, who shares some diary memories from the weekend Lehman Brothers collapsed 10 years ago, igniting the financial crisis.

Lessons learned from an economist's diary during the Lehman collapse

Sep 14, 2018

It's been 10 years since the collapse of Lehman Brothers and a financial crisis that rolled over the country. Many people dealt with it in different ways. Diane Swonk, an economist with Grant Thornton, kept a running diary. It's not just a diary of all the things she wrote during that period, she said, but she also "went back and filled in the blanks on it, because it was just such an extraordinary period in time." She spoke with Sabri Ben-Achour for Marketplace Morning Report.

Below is an edited transcript of their conversation.

(U.S. Edition) There are only 14 weeks to go until Christmas. Perhaps it's a little too early to think about holiday shopping, unless you're a retailer. With a mere few months to go before holiday shopping season, companies are gearing up to hire a lot of workers. Also, 10 years ago, Lehman Brothers was on the verge of filing for bankruptcy. It eventually became the largest bankruptcy in history.

A view from the center of the Lehman Brothers collapse

Sep 14, 2018

Lehman Brothers was around for over 150 years before it filed for bankruptcy in 2008, marking the beginning of the global financial crisis. Unlike firms like AIG who had federal bailouts to back them up, Lehman was on its own. Tom Russo, former general counsel of Lehman Brothers and later, AIG, talked to host Sabri Ben-Achour about what would have hypothetically happened if Lehman Brothers had received relief from the Fed and why under certain circumstances "bailout" doesn't need to be a bad word.

Below is an edited transcript of their conversation.

(Global Edition) From the BBC World Service … Bank of England Governor Mark Carney has reportedly warned about a chaotic economic scenario under a no-deal Brexit scenario. We break down what the bank is forecasting and what impact it could have on households. Then, before Apple and its iPhone dethroned it, Blackberry was once a king in the smartphone space. Now, it focuses on cybersecurity. We’ll hear from CEO John Chen about what he thinks of the security of self-driving cars and company systems.

New digital copyright laws pushed forward by the European Parliament this week would make platforms like Google, Facebook and YouTube share more of their profits with creators, news organizations, musicians and artists. The laws would make them be more aggressive about filtering copyrighted material. But critics, including YouTubers, say the law is so broad that it could lead to widespread censorship and even kill off internet memes. Host Molly Wood talks through the issues with Joanna Plucinska, a tech reporter for Politico Europe. (09/14/18)

New digital copyright laws pushed forward by the European Parliament this week would make platforms like Google, Facebook and YouTube share more of their profits with creators, news organizations, musicians and artists. The laws would make them take more aggressive steps to filter copyrighted material. But critics, including YouTubers, say the law is so broad that it could lead to widespread censorship and even kill off internet memes.

After Janus, a battle for union members' wallets

Sep 13, 2018

It’s been more than two months since the Supreme Court ruled against public-sector unions in Janus v. American Federation of State, County, and Municipal Employees. The decision barred those unions nationwide from collecting mandatory agency fees from nonunion members to pay for union services like collective bargaining and grievance representation that are provided to all employees. The 5-4 ruling — on First Amendment grounds — immediately cut off a significant source of cash for union coffers.

Hurricane Florence, currently tearing along the Southeast coast of the U.S. could bring wind gusts of 80 mph. The governor of North Carolina said that "tens of thousands of structures are expected to be flooded." The post-storm costs could be high as communities buy up the drywall, lumber, and steel to rebuild. The price of some of those imported materials is being driven up by tariffs.

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Help! I’ve fallen and I need a smart watch!

Sep 13, 2018

Among the updates during Wednesday’s Apple keynote were some changes to the Apple Watch. Series 4 of the smartwatch will come with price tag starting at $399, and will include a bigger screen, thinner body, and new health tracking capabilities including a better heart rate monitor. But one feature that hasn’t received as much attention is the watch’s new “fall detection capabilities.”

Here's the problem with low, low unemployment

Sep 13, 2018

Unemployment in the United States currently stands at the low, low 3.9 percent. What's not to like? A new paper from the Federal Reserve Bank of Boston argues that, historically, a low unemployment rate can signal trouble for the economy. It seems there is some danger in too much employment.

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