Latest from Jarrett Dang

• May 19, 2023

  Russian diamonds added to sanctions

  

  From the BBC World Service: Russian diamonds are being added to the latest round of sanctions as the leaders of the G-7 nations meet in Hiroshima, Japan. The BBC’s Nick Marsh reports from there. Plus, the cost of the floods in northwest Italy will be in the billions of dollars. We hear from two people affected. And, finally, what’s the environmental cost of surfing? The BBC’s Clare Marshall has been finding out.

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• May 18, 2023

  Unemployment claims are no longer ultra low

  

  The labor market is still tight, don’t get us wrong. Many employers are still looking for workers. And the economy is so resilient that the Fed has reason to be worried about sticky inflation. But all that said, jobless claims are ticking up. We’re keeping an eye on that with Diane Swonk, chief economist at KPMG. Plus, Russia has agreed to extend a deal allowing Ukrainian grain exports to safely travel out of the Black Sea. This helps both Ukraine and the lower-income countries that could use some relief from high food prices. And, why the unemployment rate for younger workers is so high in China.

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• May 18, 2023

  Americans are spending on gambling

  

  New data from the American Gaming Association show that revenues for the legal gambling industry totaled almost $17 billion in just the first three months of the year. Plus, a major opioid crisis settlement between the city of San Francisco and Walgreens. The city’s attorney says it’s the biggest award to a municipality in a case involving opioids. And, public spending on preschool has stagnated for two decades when you adjust for inflation, according to a new report. A big part of increasing public support for early education is finding more teachers.

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• May 18, 2023

  Black Sea grain keeps flowing — for now

  

  From the BBC World Service: An agreement allowing Ukraine to export millions of metric tons of grain through the Black Sea, despite Russia’s ongoing war, has been extended. The deal will allay concerns over global food supplies, but it only lasts 60 days. And, the British telecoms group BT plans to shed 40% of its staff in the coming years as part of a major shake-up. Plus, as end-of-year college exams loom, we look at the impact of apps like ChatGPT on the world of education.

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• May 17, 2023

  For the first time since early pandemic, supply chains have capacity to spare

  

  That’s according to a new report this week from the consulting group GEP. And it’s partly because companies have been able to get rid of their mountains of unsold stuff. Plus, more data on consumer behavior in this economy. Big-box retailers are seeing sales stagnate some, but there are some bright spots in housing construction data. And, the rise of Wrexham. The economics behind a small Welsh soccer team’s ascension, thanks to some Hollywood investment.

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• May 17, 2023

  “Economic coercion” is on the G-7 agenda

  

  Economic coercion is essentially economic bullying. And later this week at the Group of Seven summit in Japan, the U.S. and its allies are expected to tackle this problem. There are many examples of this form of economic retaliation, and recently China’s economic policies are under scrutiny. We speak with someone whose jobs it is to address these international economic issues, U.S. Trade Representative Katherine Tai. Plus, we look at the Biden administration’s latest challenge to a big corporate merger, this time in the pharmaceutical industry.

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• May 17, 2023

  Europe is leading on AI laws. Will the U.S. follow?

  

  From the BBC World Service: As the ChatGPT creator warns of the dangers of artificial intelligence, we hear from a European lawmaker involved in drawing up the world’s first comprehensive AI legislation. He thinks the U.S. will follow suit. And, we look at how Welsh soccer club Wrexham has fared under the ownership of American actors Ryan Reynolds and Rob McElhenney. They’ve helped turn the club’s fortunes around and have become the poster boys for U.S. investment in European soccer.

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• May 16, 2023

  Revisiting the banking bedlam this year

  

  There are multiple congressional hearings underway today to take a look back at what happened with the failures of Silicon Valley Bank and Signature Bank earlier this year. In the Senate, we’re hearing from former executives of those banks. In the House of Representatives, the Federal Reserve’s top banking watchdog and other regulators are speaking. Also today: we have the latest data on retail sales. How are consumers holding up? And lastly, why you might be paying more for flood insurance.

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• May 16, 2023

  AI is on Capitol Hill today

  

  Generative artificial intelligence has gripped the world’s imagination with its potential to disrupt our economy and way of life. The Senate is tackling that today in a hearing which includes the chief executive of OpenAI. Plus, add up everything all of us consumers in this country owe and you will get … a bill of more than $17 trillion. What can this household debt number tell us about where the economy’s headed? And, a change to Medicare that Congress is considering which could save the federal government as much as $150 billion over a decade.

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• May 16, 2023

  Game on? Europe approves Microsoft’s Activision deal

  

  From the BBC World Service: The European Union has given the green light to Microsoft’s $68 billion acquisition of Call of Duty-maker Activision Blizzard. Meanwhile, the U.K. antitrust regulator is standing firm on its view the transaction will be bad for consumers, and it’s still being challenged in the U.S. Plus, telecommunications giant Vodafone is cutting 10% of its workforce after missing targets. And, the Sudanese film industry has reached a major milestone: a movie from the country has made the official selection at the Cannes Film Festival for the first time.

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