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.

(U.S. Edition) Hurricane Florence has forced the mandatory evacuation of more than a million people along the coasts of North Carolina, South Carolina and Virginia. The possible flooding from the rain could flood areas where many people didn't think flood insurance was needed. Then, U.S. Bank unveiled Simple Loan, a low-interest, short term loan backed by the bank that might signal a change in how Americans borrow.

Do you have the right to be forgotten online?

Sep 11, 2018

(Global Edition) From the BBC World Service … France is heading to the European Court of Justice today to establish whether tech giants like Google can be forced to delete data on individuals if they make a formal request for the right to be forgotten online. Then, Tuesday, Venezuela will begin selling gold certificates to help protect people’s savings from sky-high inflation as the country continues to battle an economic crisis. But who really benefits from actions like this?

Insurance is, as the tech industry likes to say, ripe for disruption. It's old, inefficient, and not consumer-friendly. But can a startup with no experience really be a better option? Lemonade Insurance Company lets you buy renter's or homeowner's insurance through an app. An automated bot named Maya guides you through the process. And when you've got a claim,  you take it to Maya, too. It's billed as insurance for millennials and urban dwellers. There are a lot of companies like Lemonade, trying to make insurance more efficient, or even likable.

Why Lehman still exists 10 years after its collapse

Sep 10, 2018

The great unwinding of Lehman Brothers, the investment bank that collapsed 10 years ago this week, kicked off in a Manhattan courtroom on a Friday afternoon, less than a week after the firm first filed for bankruptcy.

“It was probably the single-most dramatic bankruptcy hearing in history,” said James Peck, a former bankruptcy judge who presided over the hearing and is now with the law firm Morrison & Foerster. “It sounds like an exaggeration, but it's not.”

President Donald Trump's tariffs — and talk of more — are driving global automakers to make some big decisions. Volvo, which has a Chinese parent company and makes a couple vehicles on the mainland there, canceled a planned initial public offering of its stock, citing the dark cloud of tariffs. Ford, which makes a version of its Focus in China, reiterated that it will no longer export cars made in China to the United States.  

Click the audio player above to hear the full story. 

The most dramatic bankruptcy in history ...

Sep 10, 2018

... It's one that continues to this day. The massive investment bank Lehman Brothers collapsed 10 years ago this week, helping to set off the global financial crisis. A lot of you know that story, but what you might not know is that Lehman is still around today. We'll take some time today to look at its legacy and talk with three of the men tasked with trying to contain the damage: Hank Paulson, Tim Geithner and Ben Bernanke. But first: CBS CEO Les Moonves resigned this week amid another wave of sexual harassment allegations.

An educator takes her frustration to the streets

Sep 10, 2018

My Economy tells the story of the new economic normal through the eyes of people trying to make it, because we know the only numbers that really matter are the ones in your economy.

5 things you need to know about Lehman Brothers

Sep 10, 2018

On Sept. 15, 2008, Lehman Brothers, one of the biggest investment banks in the world, filed for bankruptcy. How did it happen, and how did it affect the economy? Here's what you need to know: 

China looms over EU-U.S. trade talks

Sep 10, 2018

On Monday, America’s top trade official is in Brussels, talking tariffs with the European Union. A couple months ago the two sides agreed to a trade war truce. But with the Trump administration constantly reviewing trade policy, it’s hard to predict how things will go.

Click the audio player above to hear the full story. 

An IRS commissioner at last?

Sep 10, 2018

After months of waiting, Charles Rettig could be confirmed this week as Internal Revenue Service commissioner. It’s been nearly a year since the Trump administration passed the sweeping tax overhaul. If Rettig is confirmed, he will have his work cut out for him. The agency is underfunded, undermanned and overburdened. And the countdown clock to April 15 is ticking.

Click the audio player above to hear the full story. 

(Markets Edition) The trade war could be reshaping the grid of where companies get the items they need to assemble their products. One example is how the stock in Foxxconn, which makes a variety of things that go into iPhones, fell more than 3 percent on Monday. Then, the IRS could be getting a new commissioner this week if Charles Rettig is confirmed. Retting would be taking over an agency facing a variety of problems.

William Shatner is still the captain of his entrepreneurial ship

Sep 10, 2018

In a changeup from all of the economists we hear from, how about some business advice from a starship captain? For Monday, we took a few moments to chat with actor, author, singer and pitchman William Shatner. Every generation knows a version of "Star Trek," but Shatner's portrayal of Captain James Tiberius Kirk of the USS Enterprise still rings true for many people as the captain from the first incarnation of the TV series. Shatner is 87 years old now, but is still boldly going at it on a variety of projects.

(U.S. Edition) CBS chairman and CEO Les Moonves is leaving following new allegations of sexual misconduct. The network said there’s no severance package worked out for him. His departure will also impact an ownership feud over the corporate structure at the network. Then, we look at the overhauled U.S. tax code and how many people could still owe the government money despite getting a tax cut. Then, the chairman of China e-commerce giant Alibaba is stepping down to focus more on things like education and philanthropy.

(Global Edition) From the BBC World Service … A fractured mandate in Sweden after weekend elections left two main parties nearly tied. Then, while the world watches for more potential developments on the trade dispute between the U.S. and China, a meeting was set for Monday between America and the European Union to try and reduce ongoing tensions. What could it signal for future trade relations between the two economies? Afterwards, technological innovations have in many ways made life easier and helped to speed up productivity.

IRS warns taxpayers to check on their withholding

Sep 10, 2018

This spring, James and Kristen Dickey bought an SUV. It was a black Toyota 4Runner.

They were pumped. The Toyota would replace Kristen’s old car. It’d be easier with their two kids.

“She did the thing where she took a picture of her old Volvo, was like 'Thanks for the great decade!'” James said. “And she was going to post it, you know. Like, she was all ready.”

Then the Dickeys got the letter from their accountant. They owed $6,500 on their 2017 taxes.

“We were pretty disappointed,” he said.

For lots of popular YouTubers, merchandise is the key to making real money. And 24-year-old Karina Garcia is the fairy-tale merch story. She was a waitress who dropped out of college and then made her first crafty DIY YouTube video in 2015. Now she's got more than 7 million subscribers, and if your kids are begging you to make slime at home, she's why. Garcia launched the slime phenomenon in 2016 with fun variations like bubble wrap slime and glitter. Now she's got a line of at-home craft kits under the Craft City brand at Target.

For lots of popular YouTubers, merchandise is the key to making real money. And 24-year-old Karina Garcia is like the fairy-tale merch story. She was a waitress who dropped out of college and then made her first crafty DIY YouTube video in 2015. Now she's got more than 7 million subscribers, and if your kids are begging you to make slime at home, she's why. Garcia launched the slime phenomenon in 2016 with fun variations like bubble wrap slime and glitter. She told CNBC that her business makes about $2 million a year.

At her apartment in Brooklyn, Helen Shor is prepping burritos to eat for lunch in the week ahead. Instead of tortillas, she’s using a bag of rumali roti, an Indian flatbread. Next on her list, Vietnamese summer rolls.

Her pantry follows suit — it’s full of items like shrimp paste, Chinese black vinegar, Al Wadi tahina.

Noticeably absent? Processed foods like Betty Crocker mashed potatoes, Heinz ketchup or Pillsbury cake mixes.

Hello? Is it sheets you're looking for?

Sep 7, 2018

Today’s jobs day, but this time we're more interested in wages: the Labor Department said pay is rising faster than it has since 2009. We'll look at what's (finally) driving that change and how long it can last. Then: Amid all the trade talk, let's not forget about one of Finland's biggest exports: heavy metal. The Scandinavian nation boasts more than 50 metal bands for every 100,000 citizens, more than any other country. We'll take a look at why. Plus: Why J.C. Penney is getting in the bedding business with Lionel Richie.

What are your questions for Chris Dodd and Barney Frank?

Sep 7, 2018

How safe is our economy nearly a decade after the 2008 financial crisis? 

We'll ask former Sen. Chris Dodd and former Rep. Barney Frank, the lawmakers who authored one of the biggest rewrites of financial law, known as the Dodd-Frank Wall Street Reform and Consumer Protection Act.

We want to know what questions you have for them. Fill out the form below or email us at talktous@marketplace.org.

       First Name *

 

The pace of hiring in the United States quickened in August, and wages grew at their fastest pace in nine years — evidence that employers remain confident despite the Trump administration’s ongoing conflicts with its trading partners.

The economy added a strong 201,000 jobs, and the unemployment rate stayed at 3.9 percent, near an 18-year low, the government said Friday in its monthly jobs report.

The Bureau of Labor Statistics will release employment numbers for August this morning. Contractors already have a pretty good idea of what they’ll show. A recent industry survey found that 80 percent of builders were having trouble filling construction jobs.

Click the audio player above to hear the full story. 

(Markets Edition) The month of August saw the the U.S. economy add 201,000 jobs, with the unemployment rate at 3.9 percent and wages growing 2.9 percent year over year. It’s the largest yearly jump since 2009. Also, we looked at how hotel chains like Hilton and Marriott plan to give employees panic devices by 2020 in an effort for employees to guard against sexual harassment and assault.

A Washington state Superior Court may decide on Friday whether a utility company that gets much of its power from coal plants will have to share information on how much it costs to operate those plants. It could show how the economics of coal stack up against renewable power.

It comes as the Trump administration considers an energy proposal that many say would help coal power operators by loosening regulations.

(U.S. Edition) The White House is considering another round of tariffs on about $200 billion worth of Chinese goods, and four major American tech companies are pleading for exemptions to those tariffs. Also, streaming services like Amazon and Netflix in the European Union will eventually have to dedicate 30 percent of their on-demand content to local shows. That rules starts in December. Then. we look at the duel between environmental groups and a coal plant in the Pacific Northwest, and how their feud illuminates the economics of coal versus natural gas.

(Global Edition) From the BBC World Service … British Airways has apologized to customers after revealing data for 380,000 customers was stolen. We’ll look at why airline websites are becoming big targets for hackers. Then, the British government is cutting salaries of Northern Ireland’s lawmakers who haven’t met for nearly two years. Afterwards, Starbucks is opening its first café in Milan on Friday, but how will it be perceived by those in the country who helped shape global coffee culture?

It's been one year since Equifax announced it was the victim of a giant hack — four months after criminals stole the sensitive, personal information of more than 147 million people. In that year, not a whole lot has changed. No federal data breach notification laws, no big changes to how credit agencies collect information or tell you what they're collecting. Equifax’s stock is almost back up to where it was before it told the public about the breach. One thing that has happened though: Equifax has spent $200 million beefing up its security.

It's been one year since Equifax announced a giant hack four months after criminals stole the sensitive, personal information of more than 147 million people. And in that year, not a whole lot has changed. No federal data breach notification laws, no big changes to how credit agencies collect information or tell you what they're collecting. Equifax’s stock is almost back up to where it started. One thing that has happened — Equifax has spent $200 million beefing up its security. That was part of a deal with eight states that let it avoid fines in exchange for protecting our data better.

One year ago, the credit company Equifax announced a cyberattack had compromised the personal information of about 143 million unknowing consumers. The company’s advice at the time: Freeze your credit. Many people did that, with fees in some instances. Meanwhile, Equifax is pretty much back to business as usual. Stocks are about the same price as they were a year ago, and the business is healthy overall. We were curious about what the breach has meant for people over the past year, and why Equifax has been able to weather the breach more easily than the average consumer. 

Ten years ago Thursday, as the U.S. housing market threatened to crumble, the U.S. government seized control of the mortgage giants Fannie Mae and Freddie Mac. At the time, the two government-sponsored enterprises, or GSEs, owned or guaranteed nearly half of single-family mortgages in this country.

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