Marketplace | KERA News

Marketplace

Weekdays at 6:30 p.m.
  • Hosted by Kai Ryssdal

Business, the economy, personal finance, Wall Street, and more.

Beth Kobliner on how parents can maximize FAFSA's potential

3 hours ago

If you're the parent of a high-schooler, there's a "talk" you should be having with them. No, it's not the one you think.

On Oct. 1, the federal financial aid application process — also known as FAFSA — opens for the 2019-2020 academic year, which could bring to light questions about the economic realities of a college education and more importantly, who's footing the bill and how. 

(U.S. Edition) A stronger U.S. economy means that more U.S. bonds have been selling off, which means a boost to the 10-year treasury yield. Marketplace’s Tracey Samuelson helps explain more. Then we look into the story of Chinese agents using computer chips to possibly hack into computers used by Amazon, Apple and the U.S. government. Also, a year ago Friday, the bombshell story about Hollywood mogul Harvey Weinstein’s predatory behavior surfaced, sparking the #MeToo movement.

Big banks fear recession after Brexit

4 hours ago

(Global Edition) From the BBC World Service ... The U.K. could tip in to another recession after it leaves the European Union, warns the Royal Bank of Scotland's (RBS) chief executive Ross McEwan. Two Japanese giants have made a deal to create a "mobility network" intended to change public transport, healthcare and office work – we hear about a new multimillion dollar partnership between Toyota and Softbank. It's Super Thursday in the U.K., the biggest day of the year for publishers releasing new books for a place in the Christmas bestseller lists.

How #MeToo has (or hasn't) changed business as usual, one year later

4 hours ago

Nearly one year ago, news regarding the deep-rooted, sexually harassing behavior from Hollywood power player Harvey Weinstein shone a light on a culture of impropriety and predatory behavior that had permeated the entertainment industry. It also ignited the #MeToo movement, where people felt empowered to share their stories of harassment in an effort to bring the offenders — some of them powerful or famous — to some kind of justice. The movement and the sense of awareness it has brought with it has spread to other areas of society, include the corporate workplace.

Automation is coming. And although it's inevitably going to take jobs away, it's also going to create millions of new jobs, make production more efficient and kickstart entire new industries. The countries that invest in automation early, and in the retraining that will help workers transition to new types of jobs, could really jump ahead economically. That's partly why automation is a huge part of the Chinese government's Made in China 2025 initiative. That’s the country's plan to reduce its reliance on outside technology and create a tech economy that rivals the West.

Automation is coming. And although it's inevitably going to take jobs away, it's also going to create millions of new jobs, make production more efficient and kickstart entire new industries. The countries that invest in automation early, and in the retraining that will help workers transition to new types of jobs, could really jump ahead economically. That's partly why automation is a huge part of the Chinese government's Made in China 2025 initiative.

The race to grab a giant slice of the self-driving car market got a little more heated when Honda announced it will invest $750 million in General Motors' autonomous car unit, with an additional $2 billion coming over the next 12 years.

That’s a good chunk of money flowing to a set of products a long way from hitting the market. “This is a really expensive venture,” said Michelle Krebs, auto industry analyst at AutoTrader. “We don’t know when they’ll be ubiquitous and profitable.”

Could a cyberattack cause the next financial crisis?

19 hours ago

The big banks are seeing an increase in cyberthreats, and these attacks are only becoming more sophisticated.

Jamie Dimon has been at the helm of JPMorgan Chase since 2005. As the largest bank in the United States, it manages nearly $3 trillion — more than the gross domestic product of several countries. Dimon is also the longest-serving chief executive on Wall Street. “It is a scary place to be,” he told Marketplace’s Kai Ryssdal. Ryssdal spoke with Dimon about a wide range of issues, including interest rates, wages and the financial crisis.

Last CEO standing

19 hours ago

Most of today's show is devoted to our conversation with Jamie Dimon, the CEO of JPMorgan Chase. We talked about what it was like managing the bank and tangling with the government during the financial crisis, and how he sees his role in today's economy. We also asked Dimon what keeps him up at night. President Donald Trump used the term "time value of money" to defend himself against a New York Times report debunking his self-made origin story and implicating him in tax fraud. But what does that actually mean?

If you love football, what could be better than catching a game just a short walk from where you live? If you're a Green Bay Packers fan, this could become a reality. As reported in Bloomberg, the NFL side plans to build more than 200 homes a block from their Lambeau Field site. This is part of a growing trend among sports franchises; developing the real estate around a stadium. But who’s up for living there? 

Starting next month, Amazon will pay its more than 350,000 U.S. workers $15 an hour. The company is now worth more than a trillion dollars. So what obligations do corporations have when they get this big? 

Click the audio player above to hear the full story. 

Sen. Warren goes after housing affordability

23 hours ago

We keep hearing about an affordability crisis in housing. Home prices and rents are going up, while wages aren't keeping pace. Add to that the shortage of homes for sale because builders aren’t building enough and current homeowners aren’t putting their homes on the market. Sen. Elizabeth Warren (D-Mass.) recently introduced legislation to address the dearth of affordable housing. Warren’s bill would pump $50 billion a year into affordable home and apartment construction through local housing agencies and nonprofit developers.

(Markets Edition) Private employers in the U.S. made 230,000 hires, well above projections, according to Wednesday morning’s ADP survey. Meanwhile, we now know why one of China’s highest-paid actresses was missing for months: She’s been in custody, suspected of tax evasion and facing $129 million worth of fines.

The last CEO standing from the financial crisis

Oct 3, 2018

Cybersecurity. It’s what keeps Jamie Dimon, the CEO of JPMorgan Chase, up at night.

“We are not prepared for cyber, and it's already a cyberwar,” he told Marketplace’s Kai Ryssdal. “Companies like JPMorgan and hundreds of thousands of others are attacked every day by state actors, criminals, and we don't have the authority in place to have the proper response and protection. The government knows this, by the way, but we still haven't fixed it.”

According to the Federal Reserve Bank of Cleveland, nearly half of all workers will at some point in their career become “displaced" — that is, they will lose a job through no fault of their own. When that happens, getting back to the level of income earned before the displacement often takes years, if not decades.

(U.S. Edition) It appears the newly negotiated USMCA trade agreement among the U.S., Canada and Mexico has a provision in it that targets China. Also, we look again at how Amazon has agreed to pay 350,000 of its workers at least $15 an hour. The trillion-dollar company might have found that balance between giving back and investing in itself.

Aston Martin debut: lackluster for long?

Oct 3, 2018

(Global Edition) From the BBC World Service ... Luxury carmaker Aston Martin has been listed on the stock exchange, but will it live up to the long-term success of Ferrari shares after slow initial trading?  There's been a muted response to Melania Trump's visit to Africa, as her diplomatic and deal-making acumen is questioned; we get the view from the business community in Ghana and Kenya.

This week, the United States, Mexico and Canada made a tentative trade deal that will replace NAFTA, the North American Free Trade Agreement. And while NAFTA is better known for, say, avocados and cars, the United States-Mexico-Canada Agreement, as it's known, is updated for the digital age. For example, it would protect internet companies like Facebook or Google from being sued over material that shows up on their services. It addresses how internet services and future 5G might work in all three countries. And it would make it easier for digital goods and data to cross borders.

This week the United States, Mexico, and Canada made a tentative trade deal that will replace NAFTA, the North American Free Trade Agreement. And while NAFTA is better known for, say, avocados and cars, the United States-Mexico-Canada Agreement, as it's known, is updated for the digital age. For example, it would protect internet companies like Facebook or Google from being sued over material that shows up on their services. It addresses how internet services and future 5G might work in all three countries. And it would make it easier for digital goods and data to cross borders.

84: Potcast

Oct 2, 2018

Quick programming note right up top: Kai is out sick this week, so we've had to delay our biannual Explainathon until next week. But! Instead we're gonna talk about ... weed. Pot. CBD. THC. Marijuana. It's a big business that's poised to become much bigger: By 2022, legal revenue is expected to hit $23.4 billion in the United States, even as the drug remains illegal on the federal level. We'll talk with The Motley Fool contributor Keith Speights about the challenges facing pot companies and investors trying to get in on the ground floor.

The housing crisis hits America’s heartland

Oct 2, 2018

When you think of high rents and overcrowding, you probably don’t think of farmland. However, according to a new report by the Urban Institute, rural communities are facing a lack of affordable housing, just like more densely populated urban areas. One hundred fifty-two rural counties throughout California, Texas and several southeastern states, among others, were classified as “most severe” — that’s approximately 8 million people in need of more affordable rentals.

Exemptions for steel tariffs are still in limbo

Oct 2, 2018

Remember those steel and aluminum tariffs that set off this whole trade war? The Department of Commerce is still sifting through companies' applications for exclusions from them. As of Oct. 1, 35,872 steel and 4,711 aluminum exclusion requests have been filed. Overall, 9,057 steel exclusion decisions have been posted (5,954 were approved), while 508 aluminum decisions have been posted (385 approved). The odds aren't great for an exclusion application to be processed, let alone accepted.

Amazon announced today that it's raising the minimum wage it pays U.S. employees to $15 an hour. The company said more than 250,000 Amazon employees and 100,000 seasonal employees will benefit from the wage hike. Amazon’s new, higher pay will take effect on Nov. 1. We called Abigail Wozniak, a professor of economics at the University of Notre Dame who works primarily in the field of labor economics, to talk us through the news.

The newly inked trade agreement between the U.S., Canada and Mexico resolves issues regarding pharmaceuticals and dairy — but that still the leaves the separate, unresolved feuds around steel and aluminum tariffs. How will the three countries use the NAFTA negotiations to influence how they figure out a metal tariff deal?

Click the audio player above to hear the full story. 

The new NAFTA — or as it's officially known, the U.S.-Mexico-Canada Agreement — is already raising some complaints from north of the border. Canadians are worried their drug prices will go up.

That's because one piece of the deal gives years of extended patent protection to high-end, expensive drugs known as biologics. That means the trade deal could delay the time it takes for cheaper generics to get to market.

Biologic drugs are complex medicines made in living cells. Examples of biologics include AbbVie's Humira and Johnson & Johnson's Remicade.

Monopsony: When there's only one employer in town

Oct 2, 2018

Amazon is raising the minimum wage for all its U.S. workers to $15 per hour, a decision that follows backlash from labor rights groups over the company’s pay and working conditions.

Is a raise at Amazon a raise for the country?

Oct 2, 2018

Amazon will pay its American employees at least $15 an hour, the company announced today. With 250,000 employees and another 100,000 seasonal workers set to benefit all over the country, can the retail giant pressure its competitors to give out raises, too? We'll look at the potential macroeconomic effects, and what it's like to live on $15 an hour anyway. Then: The cosmetics industry is booming thanks to Instagram and YouTube, but makeup counters at department stores aren’t seeing more customers. How the new guard in makeup is replacing the old.

As more communities across the country face flooding, wildfires and other natural disasters, some are starting to ask questions about new development. In Bastrop, Texas, a small city outside of Austin that has seen rapid growth, officials have paused new construction. The city wants to use this time to update its regulations to try to prevent damage from flooding.

(Markets Edition) Affordable housing isn’t just an issue in packed, urban areas. A new study has found that half of rural counties are also in dire need of it. Then, we look at the markets in light of the new NAFTA agreement as well as a monthly index of the manufacturing sector.

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