Marketplace Morning Report®

with David Brancaccio

Marketplace Morning Report for Tuesday, August 7, 2012

The British firm Standard Chartered bank isn't a bank you'll find on every corner in the United States, even though it processes almost $200 billion worth of global transactions every day. But it could soon have its banking license revoked in the nation's financial center, because of allegations that the bank has been hiding tens of thousands of secret transactions with Iran. This week, companies like Macy's, Kohl's, Nordstrom and JCPenney will reporter earnings, but those earnings will only tell part of the story. In Australia, there's a new tax on greenhouse gas missions, and it was expected to help the poor and the elderly. They get a refund to pay for basic goods like food and electricity.

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Business
A longtime newspaper vendor in Manhattan's Cooper Square stands by his newsstand on April 3, 2012 in New York City.
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Economy
Heat rises from stacks at the Chevron refinery on January 25, 2011 in Richmond, Calif.
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World
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Economy
Customers fuel their cars at a Chevron gas station on July 27, 2012 in Greenbrae, Calif.
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About the Show

A lot happened while you slept. Marketplace Morning Report® host David Brancaccio explores the latest on markets, money, jobs and innovation, providing the context you need to make smart decisions.