Jul 19, 2012

Marketplace Morning Report for Thursday, July 19, 2012

It appears more of the world's largest banks are getting roped into allegations of fraud. Four big European banks have joined Barclays in the not-so-prestigious club of financial institutions being investigated for rigging a benchmark lending rate called LIBOR. Of course, this banking scandal comes on the heels of the monster JP Morgan trade-gone-bad, which has cost the bank billions of dollars. What can be done to keep these problems from happening? And more than a dozen top-tier universities are signing on to a plan that will make college more affordable -- by offering some of their courses online for free.

Segments From this episode

Why it might be time to break up big banks

by Chris Farrell

Jul 19, 2012

As banks face scrutiny over questionable practices, Chris Farrell explains why breaking up some of our biggest banks would solve a lot of problems.

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CFPB levels first fine on Capital One

by Marketplace Contributor

Jul 19, 2012

Capital One must pay $210 million after settling charges from the Consumer Financial Protection Bureau that it misled credit card customers.

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Top-tier universities offer online classes for free

by Marketplace Contributor

Jul 19, 2012

But these still won't compete with the brick-and-mortar institutions.

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Four more banks under investigation in LIBOR scandal

by Stephen Beard

Jul 19, 2012

According to the Financial Times newspaper, four big European banks have joined Barclays in the not-so-prestigious club of financial institutions being investigated for rigging a benchmark lending rate called LIBOR.

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Attitude Check

Americans' priorities for fixing the economy

by Marketplace Contributor

Jul 19, 2012

Our politicians can't seem to work it out; how do ordinary Americans think we should fix the economy?

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China offers $20 billion in aid to Africa

by Rob Schmitz

Jul 19, 2012

China held a forum with African leaders today, offering $20 billion in loans to countries throughout the continent over the next three years. The pledge almost doubles China's previous aid to Africa, strengthening a relationship that has attracted a lot of criticism from the West.

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Ag Secretary Tom Vilsack on the worst drought in decades

by Jeremy Hobson

Jul 19, 2012

Soybean prices have reached a record high, and corn prices are near records in the midst of a rough drought across the Midwest. It could impact all of us soon in the form of higher prices for everything from cereal to chicken.

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How economic sanctions affect Syria

by Scott Tong

Jul 19, 2012

At the UN today, the Security Council is expected to vote today on economic sanctions against Syria, in an effort to help end the 16 month conflict between the government of Bashar Al-Assad and rebel forces. But will more economic sanctions work?

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Attitude Check

Americans worried more about obesity than alcohol

by Marketplace Contributor

Jul 19, 2012

A new study in the journal Lancet says lack of exercise now causes as many deaths as smoking. And according to the latest figures, obesity costs Americans about $200 billion a year in medical expenses. So perhaps it makes sense that for the first time, Americans polled by Gallup see obesity as a bigger problem than smoking or alcohol consumption.

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Nokia hangs on, but announces $1.5 billion loss

by Jeff Horwich

Jul 19, 2012

Until this year, Nokia was the world's biggest maker of cell phones. Today the company announced a $1.5 billion quarterly loss and slashed the price of its new headline handset, the Lumia 900.

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Cable shows clean up Emmy nominations

by Jeff Horwich

Jul 19, 2012

Emmy nominations are out this morning and they're full of shows from cable -- AMC's Mad Men got the most. Have the broadcast networks been replaced by cable and how do online only shows fit in?

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When big celebrities leave Twitter

by Jeremy Hobson and Jeff Horwich

Jul 19, 2012

So there seems to be a trend developing over in the social media world: From Alec Baldwin to John Mayer, more and more big name celebrities are dropping out of the Twitter-verse.

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Mid-day Update

PODCAST: Banking scandals march on, food prices hit by drought

by Mary Dooe

Jul 19, 2012

Corn plants struggle to survive in a drought-stricken farm field on July 18, 2012 near Vincennes, Indiana.

Scott Olson/Getty Images

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It appears more of the world’s largest banks are getting roped into allegations of fraud. Four big European banks have joined Barclays in the not-so-prestigious club of financial institutions being investigated for rigging a benchmark lending rate called LIBOR. Of course, this banking scandal comes on the heels of the monster JP Morgan trade-gone-bad, which has cost the bank billions of dollars. What can be done to keep these problems from happening? And more than a dozen top-tier universities are signing on to a plan that will make college more affordable — by offering some of their courses online for free.