Latest from Nick Esposito

• Mar 8, 2023

  JetBlue-Spirit deal gets into antitrust trouble

  

  The Department of Justice has filed suit to halt the merger between JetBlue and budget carrier Spirit Airlines, which allegedly violates antitrust rules. The University of Michigan’s Erik Gordon joins us to break down the cases that will likely be argued by either side. Federal Reserve Chair Jerome Powell is back on Capitol Hill today to testify about the state of the economy, this time to the House of Representatives. And, a look at the latest jobs report from payroll processor ADP with Susan Schmidt, Head of Public Equity at the State of Wisconsin Investment Fund. 

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• Mar 8, 2023

  One consequence of labor shortages? Lower inequality

  

  Workers throughout the economy have seen a rise in bargaining power driven by labor shortages. But according to a new paper, it’s lower-income workers who’ve seen their wages rise the most, which translates into lower overall inequality. Fed Chair Jerome Powell spoke in front of the Senate Banking Committee yesterday, saying that the strength of the economy means rate hikes are likely to last longer to fight inflation. And, in honor of International Women’s Day, we spoke to Bridget Bodnar, co-host of Marketplace’s kids podcast Million Bazillion, about how her team approached teaching children about the gender wage gap. 

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• Mar 8, 2023

  Yeezy does it — Adidas counts the cost of Kanye split

  

  From the BBC World Service: Adidas is counting the cost of terminating its partnership with Kanye West, announcing the company could be forced to write off $500 million worth of inventory of his famous brand of Yeezy sneakers. They parted ways with the musician last year due to anti-Semitic comments West made on social media — analyst Russ Mould speaks to us about the impact on the German sportswear giant. Plus we’re in the Philippines as the government looks to ban their most polluting form of public transport – the Jeepney. And, we celebrate International Women’s Day with some extraordinary achievers.

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• Mar 7, 2023

  Companies are laying off and unemployment claims are…falling?

  

  The labor market in today’s economy, at first glance, seemingly defies logical explanation — the number of people seeking unemployment benefits has fallen as companies lay off lots of staff. We look into why the data looks how it does. A bipartisan bill in Congress is looking to lay the groundwork to ban TikTok in the U.S. The rules governing the classification of Community Development Financial Institutions are about to go under a revamp by the Treasury Department. And, the BBC reports on South Africa’s new electricity minister, whose appointment comes as the country’s main utility provider Eskom undergoes a severe crisis. 

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• Mar 7, 2023

  AI could open a legal can of worms for tech

  

  Generative AI programs like Microsoft’s ChatGPT have taken the world by storm this year. We talked to Marketplace Tech host Meghan McCarty Carino about the nature of these platforms and how that has opened up a debate over who’s legally liable for the content AI systems produce. There’s a bipartisan push in Congress to restrict TikTok in the United States that goes further than the current ban prohibiting the app on government devices. And, a look at the findings in the first report from the U.S. Department of Agriculture’s Equity Commission.

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• Mar 7, 2023

  China rebukes US over ‘containment’

  

  From the BBC World Service: China’s leader Xi Jinping has rebuked the US, blaming it for trying to “contain, “encircle” and “suppress” his country. Richard McGregor, a Senior Fellow for East Asia at the Lowy Institute in Sydney speaks to us about the latest developments. Plus, France endures its biggest day of strikes over the retirement age, and we hear about the laws the British government is trying to pass to stem the flow of migrants crossing the English channel.

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• Mar 6, 2023

  A big week ahead for macroeconomic wonks

  

  It’s set to be a big week for watchers of the larger U.S. economy — Fed Chair Jerome Powell will testify to Congress on Tuesday and Wednesday, while the February jobs report comes out Friday. We spoke with economist Julia Coronado about what we should expect in the week ahead. Vehicles, a good that enjoyed high demand and high prices during the peak of the pandemic, are now in lower demand partly because of elevated interest rates and inflation-weary consumers. And, a look at why some big cities in France are banning electronic billboards. 

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• Mar 6, 2023

  The rise of the “outdoorsy” real estate craze

  

  Resort towns across the Western U.S. are seeing record-breaking prices for housing amid a wave of buying by ultra-rich people. The trend is fueling a housing crisis for local workers, who often find themselves being priced out of housing. New legislation in the Senate is looking to restrict senior members of the executive branch from trading stocks. And, retailers are saying that inflation-wary consumers are prioritizing value over luxury…and stores are shifting gears to accommodate. 

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• Mar 6, 2023

  China increases defense spending, citing “escalating” threats

  

  From the BBC World Service: BBC’s China Correspondent Stephen McDonnell reports from Beijing as China says it will increase military spending by more than 7% this year, while warning of “escalating” threats. South Korea tries to build bridges with Japan by picking up the cost of World War II reparations, plus, it’s one month to the day since the earthquakes devastated parts of Turkey and Syria, we hear from the BBC’s Correspondent Anna Foster on the ground.

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• Mar 3, 2023

  For Biden, industrial policy is now in vogue

  

  Earlier this week, the Biden administration announced that companies could begin applying for funding under the CHIPS and Science Act, but only if they met certain conditions including limiting stock buybacks, providing childcare to workers, and others. According to Felicia Wong, CEO of the liberal-leaning Roosevelt Institute think tank, this could herald a new embrace of industrial policy by Biden to push forward his agenda. And, a look into a new report that details the growing extent of the racial disparity in home ownership in America. 

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