Illinois Economy

Business and economic news

What does a trade war mean for the U.S. economy?

Apr 4, 2018

Right out the gate, let's set the record straight: Threats have been made and specific items have been listed, but no new tariffs have been put into effect. But what does it all mean for the economy? Let's break it down. 

The fundamentals of an American economy:

Facebook now says that up to 87 million people -- most of them in the U.S. -- may have had their data shared with Cambridge Analytica.  That's much greater than the previously reported estimate that about 50 million users had their data scraped.

China's threatened tariffs on pork are hurting American hog farmers

Apr 4, 2018

The Chinese consume over 50 million tons of pork annually, and part of that meat is from U.S. farms. After the Chinese government announced its 25 percent tariffs on U.S. pork, Marketplace host Kai Ryssdal talked to Bran Duncan, a hog farmer and vice president of the Illinois Farm Bureau, about how it will affect his business. The following is an edited transcript of their conversation.

What China's tariff retaliation means for apple growers

Apr 4, 2018

Fresh and dried apples are two of the products on the list of proposed tariffs that China's Ministry of Commerce announced this week. The proposed 15 percent tariff is very big deal up in Washington. It’s the No. 1 apple-producing state in the country and the source of $50 million worth of apples exported to China last year.

Your trade war questions, answered

Apr 4, 2018

The Chinese government today threatened to slap tariffs on 106 American products, including the nation’s largest exports: pork, soybeans, beef, fruit and nuts. Wine and recycled aluminum are on the list of potentially taxed exports as well. This new round of threats has got us asking a lot of questions, including: What happens if this whole thing goes economically south?

04/04/2018: Your trade war questions, answered

Apr 4, 2018

We should be clear from the jump: China and the U.S. are trading specific, escalating threats of tariffs, but none have actually gone into effect. So you could call it a "trade war," but it really isn't ... yet. Still, you all have a lot of questions about what might happen if this cold trade war heats up. We'll start today's show with the economic fundamentals, then do our best to answer those questions. There's even more on Plus: A look at what will happen to America's agriculture industry if no one blinks in this macroeconomic game of chicken.

(Markets Edition) In the wake of yesterday's shooting at YouTube, we talk with workplace violence consultant Larry Barton about the measures companies should take to create a safer environment. Also on today's show: a conversation with Tom Sheck from our investigative unit APM Reports about the resignation of DJ Gribbin, Trump's point person on his infrastructure bill. What did Trump have planned, and what does Gribbin's departure mean for the bill? 

What companies can do to combat workplace violence

Apr 4, 2018

As you've been hearing, a shooting at Alphabet-Google's YouTube yesterday has left three wounded and the assailant dead. Authorities say Nasim Aghdam of San Diego used to try to make money off her videos on YouTube, but felt censored and ripped off. 

The violent incident raises questions about how workplaces can help protect their employees — and deal with the ones who feel aggrieved. 

China on Wednesday issued a $50 billion list of U.S. goods including soybeans and small aircraft for possible tariff hikes in an escalating and potentially damaging technology dispute with Washington.

The country’s tax agency gave no date for the 25 percent increase to take effect and said that will depend on what President Donald Trump does about U.S. plans to raise duties on a similar amount of Chinese goods.

(U.S. Edition) The U.S. has released a list of Chinese products that could be subject to new tariffs, prompting China to respond with its own list (which is separate from the back and forth tussle over steel and aluminum going on between the two countries). We'll take a look at some of the affected items, and how this could impact the U.S. economy. Afterwards, we'll discuss how NAFTA negotiations are going for the U.S., and then talk about a new report that shows how immigrants are helping power Texas' economy. 

(Global Edition) From the BBC World Service … The U.S. and China turn up the heat in their escalating trade spat. This morning, China outlined hefty tariffs on $50 billion worth of goods, including soybeans and aircraft. We’ll bring you the latest details and market reaction. Then, the latest developments from the world’s biggest advertising company, WPP Group, which is investigating an allegation of personal misconduct against its chief executive. Afterwards, today is the deadline for U.K. companies to report their gender pay gaps.

Cloudflare promises to keep users' web data from ISPs

Apr 4, 2018

Your internet service provider is watching you. At least, it’s watching where you go on the web and selling that data to third parties. There were regulations dealing with the issue for a few months, but the Trump administration did away with them. If you want to obscure your web activity, you can use something called a virtual private network, but they’re expensive and a little shady. Now the internet company Cloudflare says it’ll keep your information away from your ISP.

Your internet service provider is watching you. At least, it’s watching where you go on the web and selling that data to third parties. There were regulations dealing with the issue for a few months, but the Trump administration did away with them. If you want to obscure your web activity, you can use something called a virtual private network, but they’re expensive and a little shady. Now the internet company Cloudflare says it’ll keep your information away from your ISP.

Trump's infrastructure czar steps down

Apr 3, 2018

DJ Gribbin, President Trump's point person on a much-heralded infrastructure bill, is leaving his position at the White House to "move on to new opportunities," according to a White House official.

Gribbin's departure comes just days after President Trump conceded that his infrastructure proposal — often described as a top administration priority — is likely to remain stalled through at least the end of the year. "We probably have to wait until after the election because the Democrats say, 'don't give him any more wins,'" Trump said at an event on Thursday in Richfield, Ohio.

After a string of well-publicized personal struggles including infidelity, DUI, addiction and rehab, not to mention four back surgeries in three years, Tiger Woods is back and playing pretty well. And when Tiger Woods is good, things are good in golf. TV ratings pick up, sponsors get happy and it all adds up to a rejuvenated golf economy. As the four-time Masters champion prepares to play the famed tournament for the first time since 2015, Marketplace’s Andy Uhler takes a look at a term that’s become part of the sports and marketing lexicon: The Tiger Effect.

There is going to be a new guy in charge at the Federal Reserve Bank of New York. John Williams, formerly the president of the Federal Reserve of San Francisco, is moving to the East Coast, where he'll take over the New York Fed from current President William Dudley. Marketplace host Kai Ryssdal talked with Bloomberg reporter Jeanna Smialek about the Fed governor and what his appointment means for the Fed as a whole. Smialek said he'll be a key player on the Federal Open Market Committee in his new role. 

What it's like to be a cookbook writer

Apr 3, 2018

We've seen all kinds of cookbooks out there, but what's the process of actually writing one? Jessica Battilana is a professional cookbook author and a recipe developer based in San Francisco whose latest book is "Repertoire: All the Recipes You Need." She talks about the cookbook writing industry in an interview with Marketplace host Kai Ryssdal. The following is an edited transcript of their conversation.

The 12 regional banks in the Federal Reserve are ostensibly equal, but in reality the New York Fed leads the way on regulation of Wall Street and other bits of monetary policy. Today, the central bank announced John Williams (no, the other one) will run it. We'll talk about what that means for the Fed and what you need to know about Williams. Then, the latest from the so-called red-state teacher rebellion, playing out now in Kentucky and Oklahoma, West Virginia previously. Plus: Tiger Woods has been off his game in a very big way for years now.

Williams picked as next president of New York Fed

Apr 3, 2018

John Williams, currently head of the Federal Reserve’s regional bank in San Francisco, has been selected to be the next president of the Fed’s New York regional bank, considered the most influential position among the central bank’s 12 regional banks.

04/03/2018: A rebound in the markets

Apr 3, 2018

(Markets Edition) After yesterday's stock market dip, things are looking up this morning. We'll examine what's causing this volatility with David Kelly, chief global strategist at JP Morgan Funds, who says it's not all about tariffs and tweets. Plus: Why airlines are pushing for tougher restrictions on emotional support animals. 

Manic Monday, sell-off style

Apr 3, 2018

Monday the markets weathered a broad sell-off with tech stock jitters and trade war talk fueling investors’ anxieties. What’s behind this slide? Is it all about tech companies and trade?

Click the audio player above to hear the full story. 

56: "The best cure for hatred and ignorance"

Apr 3, 2018

Instead of making ourselves smart about news stories this week, we're taking a broader look at The News. It's truly not just navel gazing to say our highly polarized marketplace of ideas and current political strife may have something to do with the media we consume. We'll talk about the economics of reporting, online echo chambers and whether there's a model for news that brings us together rather than driving us further apart. Hear Molly's conversation with HuffPost Editor-in-Chief Lydia Polgreen, who's thinking a lot about that question as she remakes the pioneering news site.

How mental illness has become a ticket to jail

Apr 3, 2018

About 50 percent  of the people in jails and prisons in the U.S. have a mental illness. 

The focus of the new book, "Insane: America's Criminal Treatment of Mental Illness" from author Alisa Roth, who was also a former Marketplace New York bureau chief, looks at how mental illness has become a ticket to jail. 

Oliver leads a busy life. The eight-year-old chihuahua splits most of his time between home, a law office in Tampa, Florida, and court with human rights attorney Mayra Calo, his owner. Her car is set up for him, with a mounted seat that she buckles him into for travel between hearings and client meetings.

Oliver became Calo’s emotional support animal in 2011 after her sister passed away. Calo started feeling depressed and anxious, and her therapist noticed that Oliver was exhibiting emotional support pet qualities.

(U.S. Edition) It was a rough day for markets yesterday, with major stock indexes like the Dow closing down almost 2 percent. We'll look at why the market is so vulnerable right now. Afterwards, we'll discuss the New York Fed's decision to publish a new interest rate to replace the LIBOR, the London Interbank Offered Rate, the world's most widely used benchmark for short-term interest rates. Plus: A conversation with author Alisa Roth, Marketplace's former New York Bureau Chief, about her new book, "Insane: America's Criminal Treatment of Mental Illness." 

(Global Edition) From the BBC World Service … A battle between unions and Emmanuel Macron is giving the French president his first big test as workers protest his labor reforms. We'll explain what it means for the economy as a planned three-month strike kicks off. Then, Britain is cracking down on ivory selling – but can it move the needle on the number of elephants killed for their tusks each year?  After damaging droughts, regional Indian governments said they’d write off billions in farm loans. But many farmers say that hasn’t happened. 

A ransomware attack in Atlanta affected city services including the court system, first responders and utilities. Attackers demanded a ransom of $50,000, which the city refused to pay. It made us wonder: Just how vulnerable are American cities to ransomware? Marketplace’s Jon Gordon talks about it with Chester Wisniewski, a principal research scientist at security firm Sophos in Canada.

With ransomware attacks, it's not if, but when

Apr 3, 2018

The city of Atlanta is still suffering from the effects of a March 22 ransomware cyberattack that encrypted data and disrupted city services. Attackers demanded a ransom of $50,000, which the city refused to pay. 

Chinese tariffs spark fear among some U.S. farmers

Apr 2, 2018

The market's couldn't ignore a brewing trade war forever. Stocks slid today on the news of countertariffs from China on items including American cherries, wine and pork. We'll bring you the latest on markets, then we'll talk to U.S. producers who have become increasingly dependent on the fast-growing Chinese market and now fear they'll lose out.

What's next for Uber?

Apr 2, 2018

The last couple of years have not been good for Uber’s image. There was the #DeleteUber campaign after the first Trump travel ban. There were accusations of sexual harassment and a toxic work culture. There was the belated acknowledgement of a data breach and a payoff to the hackers in question to try to hide it. There was a lawsuit over the technology behind its self-driving cars, and then the fatal accident in Arizona a couple weeks ago. Sheelah Kolhatkar is a staff writer for the New Yorker and regular on Marketplace’s Friday Weekly Wrap.