Marketplace for Wednesday April 30, 2014
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China is rejecting a World Bank report predicting it will pass America as the world’s biggest economy. The reason? The Chinese government believes having the #1 title could put it under pressure to make compromises it may not want to make on its currency, climate change and trade. Plus, the Fed, which has been operating with four governors instead of its usual seven, will be down to just three by the end of May if the increasingly cantankerous Senate doesn’t act on new nominations before then. We explain what it means for the Fed to be working without a full bench. Also, when buying a sports team requires a buyer with so much money it doesn’t matter to him, how do you actually figure out a price that reflects what the franchise is worth as a business as opposed to a status symbol?
Posted In: Clippers, Donald Sterling, NBA
Clippers are suddenly hot, but what are they worth as a franchise?
Posted In: Department of Justice, ProPublica
Why the Department of Justice is toothless when it comes to prosecuting bankers.
Posted In: California drought 2014, rice, commodities, farming
California grows almost all medium grain rice in the U.S. And prices are up.