Marketplace

Weekdays 6:30-7 PM, replay 10:30-11 PM
  • 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.  

It’s the dream of many parents that their children will grow up to have more prosperous lives than they did. A new report from the World Bank finds that’s not happening in much of the developing world, where upward mobility has stalled for the past 30 years. 

Click the audio player above to hear the full story. 

(Global Edition) From the BBC World Service… It’s not often a near $5 billion fine is a good thing, but for the Royal Bank of Scotland, it marks the start of what will be the biggest privatization  in UK history. Then, a rate rise at its May meeting was almost certain for the Bank of England just a couple of weeks ago. But today, the British central bank will almost certainly keep rates on hold. We’ll tell you why. Afterwards,  Tabasco is celebrating its 150th birthday this year. The CEO of the family-run Louisiana brand shares the secret sauce to success.  

Did video streaming kill the Vimeo star?

May 10, 2018

Correction (May 10, 5:15 pm PST): A previous version of this story inaccurately stated that Vimeo is exiting the streaming business. It is not

The online video company Vimeo is switching gears, moving from being a place to watch videos … to being a place that helps people create videos. The company’s new CEO, Anjali Sud, was the person behind the pivot. She speaks with Marketplace Tech host Molly Wood about Vimeo's change in focus.

How artificial intelligence can be applied to the real world

May 10, 2018

Artificial intelligence sounds like it belongs to the domain of science fiction, but companies have been using AI in very real and practical ways.

05/10/2018: AI can generate trillions for companies

May 10, 2018

(U.S. Edition) On the occasion of a White House summit for companies on how they can best utilize artificial intelligence, we talk about how regulations lag behind AI, which has broken out of the realm of science fiction and is being used in smartphones, self driving cars and drones. We also talk to the director of the McKinsey Global Institute, which released a new report on the real and practical uses of AI for businesses trying to understand information and supply chains. Plus, China's fourth-largest cell phone brand has halted most of their operations less than a month after the U.S.

With the end of the U.S. involvement in the Iran nuclear deal comes the return of U.S. sanctions. Those sanctions can affect companies in other parts of the world, because the U.S. can punish foreign companies that do deals with Iran if those companies also conduct business in the U.S. This, to put it mildly, is awkward, because many of those companies are based in countries like France and Germany that oppose President Donald Trump's Iran policy and want to stay in the deal.  

Click the audio player above to hear the full story. 

05/09/2018: What's Facebook up to?

May 9, 2018

The news coming out of Facebook this week is maybe a bit friendlier than it has been: The company announced some leadership shuffles yesterday, along with a new department focused on blockchain technology. We'll kick off today's show with everything you need to know. Plus, we're still talking all things trade, exploring the effects of new Iranian sanctions and a new bill to give companies a break on tariffs on imported goods. Then: Would you subscribe to a car the way you would subscribe to Netflix? Some brands are offering monthly payments that cover the car, insurance and maintenance.

Of the 17 million cars expected to be sold in the U.S. this year, about a third are leased. The rest are purchased. But there’s a new option for drivers coming on strong in 2018 – car subscriptions.

Los Angeles resident Jeremy Irvine has been driving a Ford Focus hatchback for the last five months, but he doesn't own or lease it. He subscribes to his car with a service called Canvas.

“I figured out at 38 years old that I'm not a car person,” Irvine said.

The California Energy Commission is expected to vote today on a proposal that would make the state the first in the country to require new homes be built with solar panels. The proposal, which is expected to pass, would go into effect in 2020 and apply to most new residential buildings of up to three stories. What could the mandate could mean for homeowners?

Click the audio player above for the full story.

 

Senate Democrats seek vote to restore net neutrality

May 9, 2018

A group of senators — mostly Democrats — plans to file a petition Wednesday to force a Senate vote on restoring net neutrality, the Obama-era rule that said all internet traffic must be treated equally. The Federal Communications Commission repealed the rule late last year. 

Click the audio player above to hear the full story. 

Bob Iger was less than two years into his role as CEO of Disney in 2007 when he sat down with us to talk about running one of the most well-known companies in the world. But even then, Iger was thinking about making some bold moves that would shape the company's future. For the first time, hear their extended conversation about why Iger wanted to buy Pixar, his reasons for experimenting with streaming early, and who Iger wanted to work with next (including George Lucas).  

(Markets Edition) Now that the U.S. is out, it's up to other global forces to make the nuclear agreement survive. We discuss that possibility, and also take a look at the impact the sanctions could have on the markets. Plus, the California Energy Commission is set to vote on a proposal to require solar panels on new single family homes. The construction costs are steep, but could be outweighed by the amount the solar panels could save in utilities costs.

(U.S. Edition) European countries including Russia say they're still in the nuclear agreement, and the U.S. Treasury has given companies 90 or 180 days to wind down business with Iran. This affects banking, finance, commodities, shipping, insurance and, of course, oil exports. But the markets are doing okay so far, meaning maybe everyone's getting used to President Trump's fractious moves being smoothed over later by more reasonable decisions.

The education system drastically needs to be revamped, according to a new book called “What Schools Could Be.”

The author, venture capitalist Ted Dintersmith, visited all 50 states in a single school year, talking to teachers and observing the methods they used to engage students. One big issue that he says he learned more about: the ineffectiveness of testing, whether it's state-mandated tests, Advanced Placement exams, the ACT or the SAT.

Germany: Business as usual with Iran

May 9, 2018

America might be out of the Iran nuclear deal, but Europe hopes to stick with it. The leaders of Germany, France and Britain have urged President Trump not punish countries that do business with Iran. And Iran’s president Hassan Rouhani said the agreement still stands, minus America. Michael Tockuss is with the German-Iran Chamber of Commerce Association in Hamburg. German-Iran trade stands at 3 billion euros annually. Anu Anand, host of Marketplace Morning Report from London, asked him if this morning, it’s business as usual for his members. 

(Global Edition) From the BBC World Service… As the US exits the Iran nuclear deal, European nations hope to stick with it. But what’s the feeling from business leaders on this side of the world, and how are they weighing the risks of potentially losing access to the world’s biggest economy? Then, Argentina is looking for a deal with the International Monetary Fund to help stabilize a plunge in its currency and high inflation. But how will the IMF respond after a meeting with the country today? Afterwards, we explore the root of the problem forcing Madagascar vanilla prices higher. 

Is politics tearing apart the FCC? A retiring commissioner says yes.

May 9, 2018

Mignon Clyburn has been a commissioner on the Federal Communications Commission for nine years, which is forever if you’re counting in tech time. At the FCC, she’s been a staunch advocate for consumers, backing net neutrality rules and an expansion of the Lifeline program to subsidize broadband for low-income people. But some of the policies she backed have since been reversed. Clyburn talked with Marketplace Tech host Molly Wood about her tenure at the FCC and how it's changed.

The Source Code: Mignon Clyburn

May 9, 2018

Mignon Clyburn, one of two Democrats on the Federal Communications Commission, is leaving the agency after nine years. During her tenure, she worked as an advocate for consumers, and in that time, the FCC has gone from regulating TV and radio to trying to manage the entire internet. What used to be wonky policy discussions about net neutrality have gotten a lot more public. We talked with her about partisanship at the FCC, the policies she's put in place and seen reversed, and her plans for the future. 

Mignon Clyburn has been a commissioner on the Federal Communications Commission for nine years — which is forever if you think of how technology has changed in that period.  During her tenure, she’s been a staunch advocate for consumers, backing net neutrality rules and an expansion of the Lifeline Program. But some of the policies she backed have since been reversed.

My Economy: Leaving the big city life behind

May 8, 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.

 For the latest installment in the series, we hear from Matt Schewel, who left his career as a trade journalist to start working at his family's furniture company. 

Imagine you have a beautiful ballgown you’re trying to sell, but Congress has outlawed consignment shops, where you'd normally take it.

There, a middle person would be willing to hold onto it until a buyer came around. But without that middle person, the market for used clothing is less liquid. 

"That's what's happening I think writ large in the bond market,” said Jeffrey Cleveland, chief economist at Payden & Rygel in Los Angeles. Cleveland stopped by to talk with us about why trading in financial markets is becoming more difficult. 

Iran agreed to a slew of limits on its nuclear program three years ago in exchange for lifting decades of international sanctions from the United States and five other countries. The year after the deal went into place, Iran's real GDP grew by 12.5 percent. Growth has certainly fallen off since then, and there were protests in Iran this winter over economic inequality. Now that President Donald Trump has withdrawn from the deal and threatened new sanctions, what happens to U.S. companies doing business there? And businesses of other countries in the deal? That's where we're starting today.

Trump announces U.S. will exit nuclear accord with Iran

May 8, 2018

President Donald Trump announced Tuesday the U.S. will pull out of the landmark nuclear accord with Iran, declaring he’s making the world safer but dealing a profound blow to allies and deepening the president’s isolation on the world stage.

“The United States does not make empty threats,” he said in a televised address from the White House Diplomatic Room.

62: We could never get free

May 8, 2018

Molly Wood dives even deeper into radical economics this week with Glen Weyl of Microsoft Research, who's also a visiting scholar at Yale and co-author of the new book "Radical Markets: Uprooting Capitalism and Democracy for a Just Society." He says inequality is at the root of most problems facing our world, and those problems are worse because our "free" markets are not free enough. So-called "free market champions" used capitalism as a veil to further entrench privilege and power, Weyl says, and a real free market could make things more equitable.

Two of the big media companies are reporting earnings this week. The Walt Disney Co. reports after the close of the bell today and 21st Century Fox's earnings report is expected tomorrow . That means plenty of talk about Disney’s recent box office successes and its pending acquisition of Fox’s entertainment assets. But next week, the focus will shift to TV. It’s upfront season, when broadcasters sell most of their commercial slots for the fall season and the coming year.

In the weeks following the deadly mass shooting at Marjory Stoneman Douglas High School in Parkland, Florida, there’s been a lot of talk about how such a tragedy might be prevented from happening again. And although much of the discussion has centered around guns, the anxiety over school shootings is also feeding a growing industry for school security products and services.

(Markets Edition) With a decision on the way from Washington about the Iran deal, we look at what's next depending on if President Trump makes a hard or soft exit. If he decides to punish everyone who does business with Iran, it could be a very tricky situation for U.S. allies to negotiate. Plus, there's a liquidity problem in real financial markets, including some bonds. We talk with a chief economist at investment adviser Payden & Rygel about why this is occurring.

Prescription drug wholesalers, who sit between pharmaceutical manufacturers and health care providers, are expected to get an earful about their role in the opioid epidemic Tuesday. Executives from five companies will testify in front of the House Energy and Commerce Committee.

Click the above audio player to hear the full story.

The meeting room in the basement of the First Congregational Church of Memphis was packed on a recent Saturday morning with clergy members, activists, residents and workers. “It’s gone on far too long. It’s gone on far too long,” they chanted, rocking back and forth to a 1960s civil rights anthem. Their purpose for coming together was a four-hour training session on community building and peaceful protest. 

Ashley Cathey stood in the front of the room to speak, wearing a black shirt that delivered its own statement: “Fight poverty, not the poor.”

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