Latest from Kelly Silvera

• Apr 17, 2023

  China counts the cost of construction as it writes off billions of dollars

  

  From the BBC World Service: China has written off or renegotiated $76 billion worth of borrowing in the last 18 months that had been issued as part of its huge infrastructure project. Louise Loo, senior economist at Oxford Economics, tell us what this means for China moving forward. Plus, the BBC’s Adam Easton explains why Poland has placed a temporary ban on Ukrainian grain exports. And, can you buy happiness? One gaming giant hopes so as they launch a takeover for the company that makes Angry Birds.

  Read MoreSaveShareDownload
• Apr 14, 2023

  It’s been a weird week of conflicting economic signals

  

  It’s been a weird week for economy watchers. Amid seemingly contradictory signals, including a recession prediction from the Fed that came amid positive inflation data, we consult Christopher Low, chief economist at FHN Financial, about what to make of the bevy of economic information we got in the last few days. And, the BBC’s Leanna Byrne reports from Northern Ireland about the area’s economic ties with the United States in the wake of President Biden’s visit there. 

  Read MoreSaveShareDownload
• Apr 14, 2023

  Need financial advice? Some are asking AI — with mixed results

  

  The AI chatbot takeover incentivized people to ask many questions normally reserved for human experts, and financial advice is no exception. But, according to professionals working in the industry, there are clear limits on what AI can do — and what consumers should expect. Plus, recently-released data on bank profits showed a significant outflow of money from bank deposits into more “secure” locations. And, why sticker prices for new cars are finally coming down after an easing of supply chain troubles. 

  Read MoreSaveShareDownload
• Apr 14, 2023

  Biden says U.S. investment could be coming to Northern Ireland

  

  From the BBC World Service: President Biden, who visited Northern Ireland this week, said U.S. firms are willing to pump ‘billions of dollars’ of cash into the Northern Ireland economy if there’s more political stability there. And, silver prices are at a year-long high — so what’s going on?

  Read MoreSaveShareDownload
• Apr 13, 2023

  The Fed now says it expects a recession. Does that change anything?

  

  Well, that’s a bummer: the Fed’s minutes released yesterday indicate that central bankers believe there will be a mild recession by the end of the year. While it’s not particularly surprising, it does dampen recent optimism surrounding lower-than-expected inflation data released this week. KPMG Chief Economist Diane Swonk helps us dissect what’s in the minutes. Plus, Walmart announced it is closing half of its stores in Chicago due to low profitability — we look at how big box retailers tend to struggle in cities. And, Texas is looking to retool its power grid to add safeguards against power outages as seen during recent extreme weather events. 

  Read MoreSaveShareDownload
• Apr 13, 2023

  How a historical housing scandal resonates 50 years later

  

  More than 50 years ago, a nationwide housing scandal involving predatory real-estate speculators and the Federal Housing Administration hastened the decline of many urban centers in cities like Detroit, Philadelphia, and New York City. Sunset Park, a neighborhood of Brooklyn, was among those hit particularly hard. We traveled to there with Majora Carter, a Bronx-based urban revitalization specialist, to explore the scandal and its enduring legacy. And, a federal appeals court has maintained access to an abortion drug previously blocked by a Texas lower court judge.

  Read MoreSaveShareDownload
• Apr 13, 2023

  Grocery giant Tesco’s profits halve in a year

  

  From the BBC World Service: One of the world’s largest grocery stores, Tesco, has announced that its pre-tax profits halved last year to $1.25 billion. We look at what’s driven the decline. Plus, Kenya is struggling to pay government workers due to its huge national debt, but the government won’t borrow to fix the problem. And, an Instagram post promoting eyeshadow by the French fashion company Dior has prompted an angry backlash from people in China.

  Read MoreSaveShareDownload
• Apr 12, 2023

  Today’s inflation data is good news for the Fed

  

  The latest Consumer Price Index data is out this morning, and it showed a slowdown in inflation that may tempt hope in policymakers the world over. We talk with Susan Schmidt, Head of Public Equity at the State of Wisconsin Investment Fund, who helps us unpack what’s behind the 5% inflation number and what that portends for the Fed in the months ahead. And, hear what Elon Musk had to say about Twitter’s recent headline-making problems in an exclusive interview with the BBC.

  Read MoreSaveShareDownload
• Apr 12, 2023

  One casualty of a tight labor market? College enrollment

  

  The announcement of the shuttering of a small college in Milwaukee later this year — one of more than half a dozen in the last year — is a sign of troubling times for higher education. We look at how a hot job market is incentivizing some would-be students to work instead of study, and what that could mean for the future workforce. Also, the Fed is due to release its much-watch meeting minutes later today. Plus, a snippet from the BBC’s exclusive interview with Elon Musk. And, how some “drone whisperers” in Ukraine are taking apart the machines to stop critical components from reaching Russia. 

  Read MoreSaveShareDownload
• Apr 12, 2023

  Twitter is ‘roughly break-even,’ Elon Musk says in an exclusive BBC interview

  

  From the BBC World Service: Six months into his ownership of Twitter, Elon Musk sits down for an exclusive interview with the BBC’s James Clayton in San Francisco and tells him Twitter is ‘roughly break even’. It follows the cutting of nearly 75% of the company’s workforce since he bought the social media company. Plus, Pierre-Olivier Gourinchas, chief economist of the International Monetary Fund, tells us most economies will avoid going into recession this year.

  Read MoreSaveShareDownload