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.

Tim O'Reilly, founder and CEO of O'Reilly Media, says financial markets are almost like rogue artificial intelligence, but it doesn't have to be that way. Then: FCC Chairman Ajit Pai finally says no, you actually can't take away a broadcast license (Mr. President). Finally, "The Lego Ninjago Movie" producer Daniel Lin answers our Make Me Smart question. 

(U.S. Edition) President Xi Jinping delivered a big speech today to kick off China’s Communist Party Congress, which happens twice a decade. We'll look at the economic policies Jinping is expected to focus on during the event. Afterwards, we'll speak with author Diana Henriques about Black Monday, the stock market's biggest single-day drop in U.S. history. She shares some of the lessons that America still needs to learn from that event. 

Xi urges stronger Chinese stand against "grim" challenges

5 hours ago

BEIJING (AP) — Chinese President Xi Jinping on Wednesday urged a reinvigorated Communist Party to take on a more forceful role in society and economic development to better address "grim'' challenges facing the country as he opened a twice-a-decade national congress.

Speaking in the massive Great Hall of the People near Tiananmen Square, Xi laid out his vision of a ruling party that serves as the vanguard on everything from defending national security to providing moral guidance to ordinary Chinese.

Here's why we shouldn't forget about the crash of '87

6 hours ago

On Oct. 19, 1987, the stock market dropped 22.6 percent.

In other words, that's twice as bad as the worst day of 1929, worse than any single day in 2008 and the equivalent to the Dow dropping 5,000 points now.  

10/18/2017: A 'new era' for China's economy

7 hours ago

(Global Edition) From the BBC World Service ... Revitalizing the Chinese economy has been a key part of President Xi Jinping’s leadership, but some say those efforts have come up short. Can his promise of a “new era” in Chinese politics fire up the nation’s growth engine? Afterwards, we’ll discuss the rural and urban divide in Shanghai and why upward mobility is so difficult to achieve there.

10/18/2017: Imagining romance with a robot

7 hours ago

Ever since we started imagining robots, we’ve pictured them looking like humans. There are researchers who think androids are going to a part of our future. They’re developing robots that could become our caretakers, best friends and maybe even our lovers. Marketplace Tech’s Molly Wood talks with author Alex Mar, who profiled a designer who studies human intimacy and interaction with robots.

China wants nothing to do with America's trash

20 hours ago

America is known for it's large trade deficit with China. But the United States does have a surplus of one particularly smelly export — trash. Erica Phillips of the Wall Street Journal wrote about this unusual trading relationship in her piece "Oh, Scrap: China, the Biggest Buyer of America’s Trash, Wants No More." Erica talked with Marketplace host Kai Ryssdal about China's changing attitude towards American scrap.  

10/17/2017: China's done doing our recycling

Oct 17, 2017

At America's largest ports in Los Angeles and Long Beach, bales of plastic and paper are piling up. Once upon a time, they would have been packed and shipped to Asia, where they'd be turned into consumer goods and shipped back. But China has plenty of its own recycled materials now to sustain the manufacturing of goods, leaving the U.S. with a big problem: where's it all going to go?

The economics of future technology ... explained with comics

Oct 17, 2017

We're going to take a detour here to the not-too-distant future to see what technologies might shake up the economy and help determine the future of our species. Kelly Weinersmith is a biologist and her husband, Zach, does comics, "Saturday Morning Breakfast Cereal" among them. Their new book is called "Soonish: Ten Emerging Technologies That'll Improve and/or Ruin Everything." It's sort of a layman's explainer mashed up with a comic book.

How much are 50,000 Amazon HQ2 jobs worth?

Oct 17, 2017

Call it "enticing" or "incentivizing." Call it "begging" or "groveling." What’s clear is the bidding war between cities and states to host Amazon's second national headquarters is racing to its deadline Thursday. The offers of tax incentives, subsidies, favorable zoning, job training and all the rest are piling in. A few billion here, a few more billion there. Amazon promises to bring with it 50,000 mid- to high-paying central-office jobs and a whole lot of steel and glass square footage. But how much are 50,000 jobs really worth?

The contentious fourth round of NAFTA negotiations concluded in Washington, D.C. today without a deal in sight. Trade reps from Canada and Mexico rejected outright a number of hard-line protectionist policies proposed by U.S. negotiators, proposals which Canada's Foreign Affairs Minister Chrystia Freeland described diplomatically today as "unconventional." Could these seemingly irreconcilable sticking points on President Donald Trump's bold trade agenda derail NAFTA altogether? 

Click the audio player above to hear the full story.

Work comes with rules; what to wear, how much vacation you can take, how to behave and in some cases what you can post on social media.

10/17/2017: A pretty good earnings season

Oct 17, 2017

(Markets Edition) Earnings season is looking good so far. Wall Street banks Goldman Sachs and Morgan Stanley have reported better-than-expected earnings. David Kelly, chief global strategist for JP Morgan Funds, joined us to talk about some of the factors fueling their success. Next, we'll discuss the Senate's expected vote this week on a budget resolution whose outcome is hard to predict. And finally, we'll look at America's growing shift to electric homes. 

 

What happened to the GOP’s deficit hawks?

Oct 17, 2017

The Senate is pushing ahead on a budget vote this week. That framework would move the GOP a step closer to the tax overhaul it has promised. The Senate plan allows for as much as $1.5 trillion in tax cuts over the decade. Those cuts could blow a $2.4 trillion hole in the budget, the nonpartisan Tax Policy Center estimates. There are a few on the right who are sounding the alarm about national deficits and debt. Republican Sen. Rand Paul in an interview today said he is prepared to vote no on the budget if leaders don't agree to cut billions in spending from the plan.

How the GOP tax plan could hurt charities

Oct 17, 2017

In its tax framework, the GOP leadership has promised to keep some of the most popular personal deductions, including the charitable deduction. But the value of that deduction could be limited by other changes to the tax code. 

To explain, let's start with a tradition that you, dear public radio supporter, are likely familiar with: the pledge drive. A few times a year, member stations around the country ask for donations, often touting their tax deductability. 

It's been almost two months since Hurricane Harvey covered southeast Texas with 50 inches of rain, left hundreds of thousands of residents with flooded homes and disrupted lives. As of October 16, about 870,000 households had applied for direct financial assistance from the Federal Emergency Management Agency, and about 300,000 have been approved. Only U.S. citizens or legal residents are eligible for those direct deposits of relief funds from FEMA. The more than half a million undocumented people living in greater Houston have to find financial relief in other ways.  

Senate budget battle likely as vote looms

Oct 17, 2017

The Senate is expected to take up a budget framework this week. If it passes, the GOP will be one step closer to the tax overhaul it so desperately wants. President Donald Trump promised yesterday in a Rose Garden press conference with Senate Majority Leader Mitch McConnell that the tax plan is on track. But the outcome of the pending budget vote is far from predictable.

Click the above audio player to hear the full story.

Can Congress make consumer data safer?

Oct 17, 2017

The Senate Banking committee meets today for another hearing about the Equifax data breach. With the major credit reporting agencies woven deeply into the fabric of our financial system, what can Congress actually do here?

Click the above audio player to hear the full story.

A move from natural gas to electricity for homes

Oct 17, 2017

Not long ago natural gas – the fuel that probably gave you your hot shower this morning – was being hailed as the clean “bridge” fuel, because it polluted less than other alternatives. For some purposes it still is, such as when it replaces diesel fuel in buses. But in our homes, some now believe natural gas should be phased out in favor of electric appliances, for climate reasons.

10/17/2017: The fight to become Amazon's next home

Oct 17, 2017

(U.S. Edition) Canadian jet manufacturer Bombardier has been in an ongoing trade fight with America's Boeing. Well, now Bombardier is selling the majority stake of its C-series plane to the French company Airbus. We'll report on why the Canadian company went through with the deal and how it may be able to sidestep a high U.S. tariff as a result. Afterwards, we'll discuss whether Congress can help make consumer data safer, and then  look at Seattle's bid to become home to Amazon's second headquarters. 

Two dozen people zigzag through Seattle’s South Lake Union neighborhood, footsteps crunching on pavement and gravel. A local blog called The Urbanist organized the tour about the history of this neighborhood — the location of Amazon’s first headquarters.

In a few years, the view around HQ1 has morphed from low-slung warehouses to tall, modern apartment buildings and cranes that poke out of construction sites around every bend.

“It looks like a millennial paradise,” said Seattle resident Anthony Bridgewater, who took the tour.

(Global Edition) From the BBC's World Service ... The partnership sees Airbus take a majority stake in Bombardier's C-Series jet and analysts say it could have huge implications for the industry. The planes can be assembled inside the U.S., potentially avoiding the crippling 300 percent import tariff the U.S. government wants to see imposed. The deal hasn't been welcomed by U.S. rival Boeing — they complain that the firms receive too much state support. In China, preparations are underway for the Communist Party Congress, which begins tomorrow.

In the past few years, venture capitalists have invested more than $1.6 billion into companies working with low-earth orbit technology. Some of those companies are making small satellites that orbit closer to Earth than traditional ones. The goal: to blanket Earth with broadband internet and gather data on the planet. Marketplace Tech host Molly Wood talks to the innovators behind this mission.

Belgian researchers have identified a vulnerability in the way most of us connect wirelessly to the internet. The weakness even has a name: Krack. If exploited (and luckily that has not yet happened, as far as anyone can tell), information like our credit cards, passwords, basically anything we type is at risk for being seen and stolen. For businesses trying to keep their data and yours safe, this opens up a whole new front in the cybersecurity war. 

My Economy: Anxious about medical bills down the road

Oct 16, 2017

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.

Today’s installment is from Irwin Kwan, a user experience designer in Massachusetts.

The White House released a paper today laying out the argument that a corporate tax cut will give a $4,000 boost to the average household. The studies being used to back up its assertion come from reputable places like the Kansas City Fed and Harvard, although there are plenty of other studies that say otherwise. The merits of the corporate tax cut and who it benefits is setting up to be a battle of the academics over some complex models predicting how companies might behave.

Social Security benefits will rise 2 percent in 2018 for approximately 61 million older Americans who rely on the benefit. The annual cost-of-living adjustment is based on the third-quarter Consumer Price Index for urban wage earners and clerical workers. The COLA hasn’t been as high as 2 percent since 2011; it rose 0.3 percent this year and didn't increase at all in 2016. Low inflation in recent years has helped seniors financially, since many are on fixed incomes. But the rate of inflation in the health care sector has exceeded overall consumer price inflation in recent years.

Many nonprofits are shaking in their boots at the prospect of a GOP tax plan that would decrease incentives for giving, especially for individuals in lower tax brackets. And as the smoke begins to clear from massive wildfires in Northern California (some of which are still active), we examine the failure of maps that show places most at risk for wildfires. One neighborhood that burned last week was Coffey Park, a subdivision in the middle of Santa Rosa — the type of place that everyone assumed would be safe from wildfires.

Over the past week, Northern California has seen some horrific fires blaze across its neighborhoods. One of the remarkable things about those fires, in addition to their speed and the scale of the destruction, is what buildings burned and where those buildings were.

The Tubbs Fire, which hit the city of Santa Rosa, has burned more than 35,000 acres. It was 70 percent contained as of today, according to Cal Fire.

Ira Belgrade had been a Hollywood talent manager for decades when his wife, who was also his business partner, died suddenly from Lyme disease.  

“I fell apart, my business fell apart,” Belgrade said.  “How was I going to tell my 2 1/2-year-old, 'Now we’ve got to move, you can’t have that bedroom anymore'?

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