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James Graham

Latest from James Graham

  • The debt ceiling fight just got a lot more real
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    The pressure is now on for the White House and House Republicans to strike a deal to raise the nation’s debt ceiling by the end of the month. Yesterday, Treasury Secretary Janet Yellen announced that the U.S. could run out of money to pay its bills as soon as June 1. We look at what the deadline means for negotiators in Washington. Plus, JPMorgan Chase’s deal to acquire the failed First Republic Bank means that the megabank will bring in a bevy of assets and new customers, but also a load of debt and restructuring headaches. And, the BBC’s Elizabeth Hotson reports on how confectioners are dealing with higher prices for producing candy. 

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  • The ‘Godfather’ of AI warns of the technology’s danger
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    From the BBC World Service: Geoffrey Hinton, one of the pioneers of Artificial Intelligence, quit his job at Google and has issued a stark warning to the BBC about the technology he helped create. Additionally, HSBC’s profits tripled in Q1 after acquiring Silicon Valley Bank UK. And Marketplace’s Leanna Byrne visits companies in the UK that are gearing up for the King’s coronation this weekend.

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  • Could we be nearing the end of the banking crisis?
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    The failure and subsequent sale of First Republic Bank is the latest episode in the continuing fallout from the Silicon Valley Bank collapse in March. Yet there may be cause for cautious optimism this could be one of the final dominos to fall in the banking crisis. Julia Coronado, president of MacroPolicy Perspectives, tells us more about what could lay ahead. Plus, a deeper look into what exactly happened when financial regulators sprung into action overnight Monday. And, how Homeboy Industries, an LA-based nonprofit that rehabilitates formerly incarcerated and gang-affiliated people, is taking on the challenge of recycling clothing. 

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  • How the latest bank failure reshaped the financial industry overnight
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    The embattled First Republic Bank, one of the institutions caught in the wake of Silicon Valley Bank’s collapse, was acquired overnight by federal regulators and sold to JPMorgan Chase. It’s a massive, multi-billion dollar deal that makes America’s largest bank even larger. Erik Gordon, professor at the University of Michigan, explains what the collapse says about the financial industry. Plus, we look at how the construction industry is dealing with an ever-present shortage of workers. 

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  • First Republic becomes the second biggest bank to fail in U.S. history
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    From the BBC World Service: Overnight, First Republic Bank was taken under the stewardship of regulators, who then immediately sold it on to JPMorgan Chase, making it the second biggest bank in American history to fail. Banking analyst Frances Coppola talks us through the ramifications. Plus the BBC Business Editor in India, Arunoday Mukharji, reports on India becoming the world’s most populous country.

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  • The economic crystal ball foresees another Fed rate hike
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    The latest measure of the Federal Reserve’s preferred gauge of inflation is out today, and it showed a considerable tapering in rising prices. But according to FHN Financial Chief Economist Christopher Low, the economic tea leaves are still saying that America’s central bank will likely hike rates again when its top interest rate-setting committee meets next month. Plus, we chat with Zanny Minton Beddoes, editor-in-chief of The Economist, about the news magazine’s recent edition highlighting the U.S. economy’s surprising long-term overperformance. And, what the latest rounds of layoffs at Gap Inc. say about the retail sector. 

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  • The case for stepping back when talking about the economy
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    Talking about the economy nowadays is a miserable affair — inflation, inequality, and other topics dominate an increasingly negative discussion. But over the longer term, the U.S. economy has actually outperformed when compared to nearly every other advanced economy, a recent issue of The Economist magazine finds. Zanny Minton Beddoes, editor-in-chief of The Economist, lays out the case for looking at the bigger picture. And, we spoke to E.J. Schultz, editor at the publication Ad Age, about the ongoing turmoil at beer maker Bud Lite about the recent sacking of two executives after the company’s campaign with a transgender influencer. 

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  • Could the North Sea become a green energy hub?
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    From the BBC World Service: With a desperate need to stop relying on Russian energy, there are plans to make the North Sea ‘Europe’s biggest green power plant’. We speak with Maurice Berns, head of the Boston Consulting Group Center for Energy Impact, about the idea. Plus, Brazil will continue to farm according to its own regulations, despite European Union laws banning the import of products linked to deforestation. And, rising sugar and cocoa prices are bringing a sour note to the confectionery industry.

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  • The economy is slowing, but inflation’s sticking around
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    Monetary policymakers’ fight against inflation has centered around hiking interest rates to cool off the economy, and today’s economic data shows just that — GDP growth slowed considerably last quarter. But core inflation, a measure of price rises among goods that aren’t as volatile, rose at the same time. We ask KPMG chief economist Diane Swonk what that means for the Fed’s inflation fight going forward. Plus, new studies show that popular melatonin gummies contained amounts of the hormone that differed significantly from what had been advertised. And, a look at Texas’s recent push to eliminate sales tax period products like tampons and pads. 

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  • Are big banks following through on their climate pledges?
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    Big banks across the financial sector — including giants like JPMorgan Chase, Citigroup, and Bank of America — have made green pledges to reduce their contributions to climate change. But as a pair of new reports point out, the firms’ progress toward those goals has been slow even amid a period of high profitability. We look at why that’s been the case. Plus, the embattled First Republic Bank, one of the mid-sized financial institutions caught in the backblast of the collapse of Silicon Valley Bank, is in fresh trouble after its stock tanked this week. And, oil tankers are becoming more and more expensive for companies to hire because of Russia’s war in Ukraine. 

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