Oct 15, 2012

Marketplace Morning Report for Monday, October 15, 2012

The Japanese company Softbank has reached a deal to buy 70 percent of the American wireless carrier Sprint Nextel. The $20 billion deal is the largest ever Japanese acquisition of a foreign company. Governor Mitt Romney and President Obama will face off on the debate stage for the second time tomorrow night. How will voters' personal finances factor in to the election? RapGenius.com -- it's been called the wikipedia of rap and it just got $15 million dollars in venture capital funding -- but how will the rising star website solidfy its place as more than just a passing fad?

Segments From this episode

Softbank to acquire Sprint, enter U.S. market

by Amy Scott

Oct 15, 2012

The Japanese mobile phone carrier Softbank has reached a deal to buy 70 percent of U.S. wireless company Sprint Nextel. The $20 billion dollar deal is the largest-ever Japanese acquisition of a foreign company.

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Behind the lyrics with Rap Genius

by Jeremy Hobson

Oct 15, 2012

It's been called the "Wikipedia of rap", and it just got $15 million dollars in venture capital funding. RapGenius.com is a rising star website which allows people to post annotations on the meanings behind song lyrics.

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Lack of photo ID triggers financial penalty

by Jeff Tyler

Oct 15, 2012

Thousands of Americans face economic challenges because, through no fault of their own, they are unable to secure a photo ID.

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In election, voters look beyond personal finances

by David Weinberg

Oct 15, 2012

A survey finds that most people don't think the election will affect their personal finances. Among those who do, there's a preference for President Obama.

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Retailers curb online shopping with in-store deals

by Sally Herships

Oct 15, 2012

Brick and mortar retailers like Best Buy, Target, and JC Penney, have an idea to compete with online rivals like Amazon. They are going to match their prices during the holiday shopping season.

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The Punchline

Mansa Musa: The richest person of all time

by Jeremy Hobson

Oct 15, 2012

Have you ever heard of Mansa Musa? Well he is the richest person who ever lived -- according to CelebrityNetWorth.com -- which adjusted its list for inflation. Mansa Musa ruled over the Malian Empire in West Africa way back in the 14th century.

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Retailers report another strong sales month

by Jeff Horwich

Oct 15, 2012

U.S. retail sales rose 1.1 percent in September with Americans spending more on cars, electronics and gas.

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Nobel Prize awarded to two Americans

by Jeff Horwich

Oct 15, 2012

This year's Nobel Memorial Prize in Economics goes to Americans Alvin Roth and Lloyd Shapley for their work in allocation systems known as "market design."

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News In Brief

Nobel Prize in Economics: A history of winners

by Nancy Farghalli

Oct 15, 2012

It's best known as the Nobel Prize for Economics, but the official name of the award handed out today for the 44th time is The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. A list of past winners.

Nobel prize-winner Alvin Roth: 'Certainly didn't see it coming'

by Jeff Horwich

Oct 15, 2012

Stanford economist Alvin Roth shares this year's Nobel Prize for Economics for his work designing and creating markets where there were none.

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Mid-day Update

PODCAST: Nobel for matchmaking and Sprint Nextel for the taking

by Jeff Horwich

Oct 15, 2012

This year's Nobel Memorial Prize in Economics goes to Americans Alvin Roth and Lloyd Shapley. US retail sales rose 1.1 percent last month. We were spending more on cars, gas and iPhones. Japan's third-largest wireless company, Softbank, has reached a deal to buy Sprint Nextel here in the U.S.

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Microsoft announces Xbox Music service

by Jeff Horwich

Oct 15, 2012

With the release of Windows 8 just 11 days away, today Microsoft announced a new music service called Xbox Music.

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The Japanese company Softbank has reached a deal to buy 70 percent of the American wireless carrier Sprint Nextel. The $20 billion deal is the largest ever Japanese acquisition of a foreign company. Governor Mitt Romney and President Obama will face off on the debate stage for the second time tomorrow night. How will voters’ personal finances factor in to the election? RapGenius.com — it’s been called the wikipedia of rap and it just got $15 million dollars in venture capital funding — but how will the rising star website solidfy its place as more than just a passing fad?