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.

Millennials of color are worse off financially

10 hours ago
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David Brancaccio and Jana Kasperkevic

One of the main reasons why millennials — those 18 to 34 years old — hate the term “millennial” is because it is often used to make blanket statements about their generation. Millennials are the largest and most diverse generation of Americans, with about 19 percent of them identifying as Latino or Hispanic, 13 percent as black or African-American and six percent as Asian-American.

06/28/17: Another month, another malware attack

11 hours ago
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Marketplace

A ransomware attack hit servers around the world yesterday. The infected computers displayed a message in red type over a black screen that read, "Oops, your important files are encrypted," demanding a $300 bitcoin ransom from users to recover the data. This comes just one month after the WannaCry ransomware attack that affected more than 150 countries in May. We talk to Chester Wisniewski of the cybersecurity firm Sophos about this attack. Also on today's show: It's been 10 years since the first iPhone shipped out.

Why this ransomware attack is more alarming than the last

11 hours ago
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Marketplace

A ransomware attack hit servers around the world yesterday. The infected computers displayed a message in red type over a black screen that read, "Oops, your important files are encrypted," demanding a $300 bitcoin ransom from users to recover the data. Attacks were first reported early Tuesday morning in Ukraine, where banks, an airport and the metro system, among other systems, were affected. It quickly spread to other European countries and the U.S. Some say the current attack is a variant of Petya, malware that has the ability to quickly spread over networks.

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Marketplace

Millennials are the largest and most diverse generation of Americans, with about 19 percent of them identifying as Latino or Hispanic, 13 percent as black or African-American and six percent as Asian-American. According to a new report called "Gen Forward," African-Americans and Latino millennials are more likely to be economically vulnerable than their white and Asian-American counterparts. We talk to one of the study's authors about these findings.

The rise of ride-sharing apps has been tough for old-school rental car agencies. Who wants to pay for a car and parking when a couple of rides might be cheaper? But this week some rental car companies are getting a boost from partnerships with tech firms. Google's Waymo announced a deal with Avis Budget Group to manage a fleet of self-driving minivans in Phoenix. Soon after, Bloomberg reported another deal between Apple and Hertz. So what’s in it for both sides in these partnerships?

You thought your commute was bad? More than 30 New York City subway riders got hurt this morning after two cars derailed, scraped the side of the subway tunnel and came to a stop. Delays spread throughout the system. It’s the kind of hang-up New Yorkers are sadly accustomed to, with about 70,000 subway delays per month. The 113-year-old system needs billions of dollars in upgrades, but no expanded funding mechanism is in sight from the state of New York. 

Click the audio player above to hear the full story.

Massive ransomware attack in Europe all but promises more to come

Jun 27, 2017
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Kai Ryssdal and Molly Wood

Today in world cyber news, two major developments on the other side of the pond: the European Commission rules to fine Google 2.42 billion euros for antitrust violations, and another ransomware attack shakes Europe.

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Lorne Matalon

"Maquilas," the mostly American-owned factories that line the Mexican side of the border with the U.S., have been looking forward to the prospect of change since the election of President Trump.

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Kai Ryssdal

There was a study out this week from the University of Washington and the National Bureau of Economic Research that's raising some questions about how to frame minimum wage increases in this country.

Mark Long is a professor of public policy at the University of Washington and co-authored a study that looked at what happened when the city of Seattle started implementing minimum wage increases.

Blog: How to write better work emails

Jun 27, 2017
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Kai Ryssdal and Molly Wood

Jennifer Romolini has made a name for herself by embracing her weirdness.

In her book, "Weird in a World That's Not: A Career Guide for Misfits, F*ckups, and Failures,” she offers relatable advice for facing down fears, finding the perfect job and keeping it. In this excerpt, she lays out the right way to send a work-related email "and not seem unhinged."

Happy Birthday, ATMs!

Jun 27, 2017
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Marielle Segarra

From the entrance of Chase Bank's World Trade Center branch in Manhattan, you can't see any teller windows. They're tucked around a corner, sometimes covered up by a remote-controlled curtain.

Instead, you're greeted by a row of ATMs.

"This is the branch of the future," said Weston Guy, the branch manager. 

The ATM screens look like really big iPads standing upright on kiosks. And they let you do things a lot of other ATMs don't — like pay your credit card bill, get five dollar bills or withdraw several thousand dollars.

Are gunslingers making a comeback thanks to open carry?

Jun 27, 2017
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Jana Kasperkevic

This is just one of the stories from our "I've Always Wondered" series, where we tackle all of your questions about the world of business, no matter how big or small. Ever wondered if recycling is worth it? Or how store brands stack up against name brands?  What do you wonder?

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Marketplace

Senate Majority leader Mitch McConnell pumped the brakes on health care today, delaying the vote on the GOP's Obamacare replacement until after the July Fourth holiday. Stocks took a little dive today amid all the uncertainty, in no small part because the health care bill is actually a tax bill. Something we'll try to hash out today: This plan is all about making health care more affordable, but once you get past all the politicking, what's that even mean? Then: the latest on ransomware attacks that are spreading across Europe today.

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Marketplace Weekend Staff

This July 1, Maryland, Oregon, Los Angeles and Washington D.C., are raising the minimum wage.

The nation's capital will still have the highest minimum wage in the U.S. It's going up to $12.50-an-hour. Meanwhile, the debate is raging around $15 minimum wages in cities like Seattle, Washington.

06/27/17: Too much Google?

Jun 27, 2017

The European Comission imposed $2.72 billion fine on internet giant Google on Tuesday for breaching antitrust rules with its online shopping service, claiming that the company "abused its market dominance as a search engine." Also on today's show: A look at home health monitoring devices that improve care and cut costs for chronically ill patients.

 

What corporate bankruptcy can teach us about morality

Jun 27, 2017
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David Brancaccio

Does the world of finance and markets needs a good infusion of humanity? One book examines how how a wider reading of the humanities can help you understand finance and at the same time how finance can help you understand the human condition. It’s by economist and Harvard Business School professor Mihir Desai.

How do Uber drivers feel now that Travis Kalanick is gone?

Jun 27, 2017
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Bruce Johnson and Kristin Schwab

Uber's company culture could change with the departure of CEO Travis Kalanick. But it's unclear if its rider culture already has. Kalanick's resignation and Uber's continued investment in self-driving cars will bring significant shifts to the industry, impacting how passengers hail a ride.

EU fines Google a record 2.42 billion euros

Jun 27, 2017
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Associated Press

BRUSSELS (AP) — The European Union's competition watchdog slapped a record 2.42 billion euro — $2.72 billion — fine on internet giant Google on Tuesday for breaching antitrust rules with its online shopping service.

European regulators said "Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service.''

6/27/17: Profile picture thieves

Jun 27, 2017
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Marketplace

Profile hackers are stealing the photos and other profile information from a high rate of female Facebook users in India. To combat this issue, Facebook has built a tool that makes it harder to download or screenshot a person's profile picture. We talk to Ankita Rao from Motherboard who has been following this story. Plus: A check-in on rideshare drivers. After a lot of drama at Uber in the past couple of weeks and changes to the company's tipping policy, we ask how drivers are feeling right now. 

06/27/2017: Where finance meets humanity

Jun 27, 2017
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Marketplace

Here's a thought: What if a wider reading of the humanities can help you understand finance? We talk to Harvard Business School Professor and economist Mihir Desai who wrote a book about just that, called "The Wisdom of Finance: Discovering Humanity in the World of Risk and Return." Also on today's show: A record week for IPOs. Ten companies are expected to go public this week, making it the busiest week for IPOs in two years. 

High school students feel disengaged in the classroom

Jun 27, 2017

Most of us who went to school in this country grew up with a “comprehensive high school” — that is, a school that seeks to educate large numbers of students under a single roof. Now, a new survey by the Fordham Institute shows this approach might be creating students who are less engaged with what they are learning.

Click the audio player above to hear the full story.

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D Gorenstein

A great way to avoid strokes — control high blood pressure.

That’s tricky said 71-year-old Cheryl Larson, who suffers from the condition, because it can be hard to know when it's elevated.

“You know that blood pressure is a silent killer,” she said. “Sometimes you can have extremely high or extremely low blood pressure and not have symptoms.”

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Kai Ryssdal

The Congressional Budget Office released its analysis today of the Senate Republican health care bill. That bill, which was made public on Thursday, is expected to go to a vote later this week. Sarah Kliff is a senior editor at Vox and co-host of the podcast “The Weeds.” She talked with Marketplace host Kai Ryssdal about the latest analysis from the CBO. The following is an edited transcript of their conversation. 

Kai Ryssdal: So tell you what, give me the headline numbers on this thing, would you?

Why the US buys all its rare earth metals from China

Jun 26, 2017
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Kai Ryssdal and Maria Hollenhorst

Rare earth minerals, though not actually rare, have unique chemical properties that make them essential for wide-ranging technologies, including smartphones, hybrid cars and high-tech weapons. Two years ago, the only rare earth mine in the United States filed for bankruptcy protection. The ongoing dispute over control of that mine's assets, and thus the ore it produces, center on China's near monopoly over the rare earth element supply chain.

South Carolina’s political elite turned out today to celebrate an expansion of BMW’s facility in the Palmetto State. It’s now BMW’s largest in the world. At the event, Sen. Lindsey Graham had this to say on Twitter: “to those who fear globalization, embrace it b/c it’s not going away...if you want to see the good it can do, come to SC.”   The senator’s tweet could be interpreted as a jab at President Trump, who has been highly critical of Germany and other U.S. trading partners.

What the Trump White House and a newly public company have in common

Jun 26, 2017
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Kai Ryssdal and Sean McHenry

One of the president's main pitches for his presidency was the assertion that business management equates to government experience. While, yes, a for-profit business is not the same thing as government, consider this thought experiment for a moment: In a way, the president's transition from running the privately owned Trump Organization to the U.S. government is sort of like going public. And like companies that go public, the president has been met with all sorts of unexpected challenges, not the least of which is public scrutiny.

In yet another branded White House initiative, it's Energy Week. President Trump will be focused on American "energy dominance," and touting the boom in U.S. fossil fuels and plans to support and increase energy exports. A ban on exporting U.S. oil and gas was lifted under the Obama administration. Energy companies may appreciate less oversight and more access under Trump, yet their activity is driven by markets over Washington moves.

Click the audio player above to hear the full story.

Activist investor Daniel Loeb announced over the weekend that his hedge fund, Third Point, has taken a $3.5 billion stake in the Swiss food conglomerate Nestle, and he wants some changes at the company. That may sound like a lot of money, but the investment represents just over a 1 percent stake in the company. It’s enough though to get the company’s attention. That’s because activist investors are looking to drive change, unlike a lot of “passive” investors, who just sell their stock if they don’t like how a company is run. How do activist investors work?

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Olga Oksman

The map that started it all — the original 1953 drawing used to persuade investors to fund theme park Disneyland — has sold at auction for $708,000. While a respectable sum, it fell short of the $750,000 to $1 million that Los Angeles-based auction house Van Eaton Galleries estimated. An anonymous American collector put in the winning on bid on June 25 for the 3 ½-foot-by-5 ½-foot plan for Disneyland, which would come to fruition in 1955.

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Robert Garrova

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.

For this latest installment of our series, we hear from Rebecca Dunne, a music teacher and publications technician in Fairbanks, Alaska. 

My name is Rebecca Dunne and I live in Fairbanks, Alaska.

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