Latest from Kelly Silvera

• Mar 28, 2023

  Need to cancel a subscription? It may soon get a lot easier

  

  Have you got a bunch of subscription services that need to be canceled but are dissuaded by the onerous process? A new proposal by the Federal Trade Commission aims to streamline cancellations by requiring companies to make opting out as easy as opting in. Plus, we chat with Dr. David Kelly, Chief Global Strategist at JPMorgan Asset Management, about the macroeconomic environment as top banking regulators testify in front of Congress. And, how some American streaming giants like Netflix are winning the hearts and minds of people in France. 

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• Mar 28, 2023

  Top banking regulators to testify on the Hill

  

  Officials from numerous government agencies that oversee the banking industry will testify in front of the Senate Banking Committee today. We look at what they’re expected to tell lawmakers about the collapse of Silicon Valley Bank and related financial jitters in recent weeks. Plus, protests are continuing in France over president Emmanual Macron’s unpopular pension reforms. And, SVB’s downfall has brought new uncertainty for a variety of businesses, including some winemakers in California. 

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• Mar 28, 2023

  How global powers vie for influence in Africa

  

  From the BBC World Service: Vice President Kamala Harris has announced a $100m conflict prevention package for West Africa at the start of a week-long visit to the continent. We look at how Washington is seeking to counter the growing influence of China and Russia in Africa. Plus, Chinese billionaire Jack Ma is perhaps the most high profile name in a long list of businessmen to have recently disappeared from public life in China. It’s all linked to President Xi’s crackdown on big tech companies. So why did he reappear at a Chinese school? And, we take a look at the $300bn ‘modest fashion’ industry.

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• Mar 27, 2023

  Economists think that we’ll see a recession AND inflation this year

  

  A new survey from the National Association of Business Economics indicates that economists believe the U.S. economy will have to endure high inflation along with a potential recession this year. Julia Coronado, president of the organization, talks through the data. Plus, Chinese factories are struggling to get back to their pre-lockdown production levels even after restrictions were lifted. And, we talk with WNYC senior reporter Nancy Solomon about how tax breaks intended on bringing jobs to the city of Camden, NJ mostly didn’t boost local employment. 

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• Mar 27, 2023

  Some businesses are now more skeptical of using smaller banks

  

  The recent turmoil in the banking sector has spooked a number of consumers into moving their deposits from smaller financial institutions to larger ones. We look at what’s driving that shift, as well as what it could mean if the trend continues. First Citizens Bancshares, which is based in North Carolina, will acquire a large chunk of the assets of the collapsed Silicon Valley Bank. And, a recent recall of eyedrops issued by a couple of companies raises the question of how a recall affects consumers and businesses. 

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• Mar 27, 2023

  First Citizens picks up SVB assets

  

  From the BBC World Service: It’s Monday, which means there’s another deal in the banking sector. First Citizens BancShares has bought all the loans and deposits of Silicon Valley Bank. Its collapse a few weeks ago triggered a crisis of confidence in the industry, but we’ve seen European banking shares trading higher today. Plus, a strike by two of Germany’s largest unions has brought public transport there to a near standstill. And, it’s 50 years since women were first allowed to work on the trading floors of the London Stock Exchange. We hear from some of the pioneers.

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• Mar 24, 2023

  In normal times, central banks just call each other once in a while. Not right now.

  

  No, right now, central banks around the world have moved to a second level of coordination. All of the economic jitters have more people around the world turning to U.S. dollars for investment security. That rapid flow of dollars can upset the balance, and so the Federal Reserve has had to step in and manage things more carefully. Plus, what’s referred to as “China’s Davos” is underway, but fewer business leaders from the U.S. will be in attendance. Also, protests in France over pension overhauls reach a fever pitch. And, how long until lab-grown meat hits the grocery store shelves?

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• Mar 24, 2023

  Banks are still borrowing emergency funds from the Fed

  

  But at least this week they borrowed less than they did last week. That’s a good sign. We look at why the U.S. central bank is making it easier for banks to borrow more money. And, earlier this month, after 10 years of negotiating, countries at the United Nations hammered out a new treaty that has the potential to significantly change how the world’s oceans are governed. The treaty also sets some rules and regulations around trade on the high seas and the use of natural resources.

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• Mar 24, 2023

  There’s a T. rex on sale in Europe

  

  From the BBC World Service: For the first time since 2019, China is hosting its three-day development forum to show the world that it’s back in business. However, the U.S. guest list is pretty short due to growing tensions between the two countries. Plus, the South Korean businessman, Do Kwon, has been charged by U.S. prosecutors with fraud, over a failed cryptocurrency scheme. Plus, a Tyrannosaurus rex skeleton is going on sale for the first time ever in Europe, valued at around $6 million. But there are concerns it could be locked away from public view by a private buyer.

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• Mar 23, 2023

  Calls for more banking regulation come from Congress

  

  In the wake of turmoil in the banking system, some in Congress argue the solution is more regulation. Republican Sen. Rick Scott and Democratic Sen. Elizabeth Warren have unveiled legislation that would add a new watchdog to oversee the Federal Reserve itself. That’s just one part of the conversation happening in Washington about tightening regulation. Plus, will banking system jitters do the Federal Reserve’s job for it? Also, keeping an eye on the housing market, which is starting to show some traces of stabilization after new home sales rose unexpectedly in February. And, how China hopes to boost its population and, by extension, its economy.

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