Latest from Nick Esposito

• Feb 8, 2023

  Retailers are stocking more stuff, a good sign for the economy

  

  The most recent issue of the Logistics Managers Index, an industry gauge of retail inventories, showed that sellers expanded their stocks in January. That suggests that consumer demand is remaining strong and that supply chains are sorting themselves out, all good signs for the economy. We spoke with Dr. Julie Varughese, senior vice president of programs and chief medical officer at Americares, a disaster relief nonprofit, about the recent earthquakes in Turkey and Syria. And what’s behind Fed Chair Powell’s most recent words on inflation and rate hikes?

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• Feb 8, 2023

  Inside the anti-labor history of austerity

  

  Austerity, or government measures to cut spending in times of economic crisis, has a long history of being used to suppress the labor force, argues a new book called “The Capital Order.” We speak to the author, Clara Mattei, an economics professor at the New School for Social Research. And, President Biden’s State of the Union speech last night featured a heavy dose of economic policy, including a proposed billionaire tax. 

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• Feb 8, 2023

  Turkey counts the cost of massive quake

  

  From the BBC World Service: Turkish President Erdogan heads to the epicenter of Monday’s earthquake as rescue efforts continue in freezing conditions. The death toll continues to grow and the damage to infrastructure is becoming clearer. Plus, McDonald’s has signed a legal agreement with the UK watchdog, the Equality and Human Rights Commission, in response to concerns about its handling of sexual harassment complaints by staff. And, the trains in Spain – questions are being asked after $250m was spent on 30 trains that can’t fit through some tunnels.

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• Feb 7, 2023

  Google’s Bard isn’t Shakespeare, but instead an AI chatbot

  

  Google announced this week that it is developing Bard, the tech giant’s chatbot intended to rival ChatGPT. Microsoft, meanwhile, is trying to develop its own chatbot to work with the Bing search engine. The recent scandal in India involving the Adani Group, one of the country’s largest companies, is sending waves through the Indian economy. And, a look into why consumer debt is on the rise in the U.S. ahead of the Fed’s report on consumer credit. 

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• Feb 7, 2023

  Economics likely to headline Biden’s State of the Union address

  

  President Biden’s State of the Union Address tonight will likely tout recent economic victories, including a recent tempering of inflation and strong jobs numbers. But the president will likely have his work cut out for him bringing around a skeptical American public. Oil producer BP posted record profits, which is just the latest positive result reported by oil giants. And, the Bank of England is considering introducing a digital version of the pound sterling. 

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• Feb 7, 2023

  BP announces record profits

  

  From the BBC World Service: BP has announced its profits in 2022 more than doubled to just shy of 28 billion dollars. But the oil giant scaled back its green targets – we ask why. Nissan’s chief operating officer tells us the company’s alliance with Renault is still going strong. Plus the UK has started a consultation on whether to create a digital pound.  

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• Feb 6, 2023

  Lab-grown meat could be in some restaurants soon

  

  Lab-grown meat could be on its way onto grocery store shelves and restaurant pantries sooner rather than later. One California-based startup, UPSIDE Foods, is seeking USDA approval to distribute its cultivated chicken product by the end of this year. Disney and the state of Florida are continuing their spat over Disney World’s special status in the state. And, economist Julia Coronado gives some insight into why there’s optimism that the U.S. economy might be able to avoid a recession this year. 

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• Feb 6, 2023

  Consumers would suffer if U.S. defaults on debt, says IMF chief

  

  Consumers in the U.S. would likely suffer economic pain if Congress fails to raise the debt ceiling, warned International Monetary Fund head Kristalina Georgieva. If it happens, she warned that people could be stuck paying higher interest rates on things like mortgages, car loans and credit cards. Amid Netflix customers’ ire at the coming crackdown on password sharing, new research shows that consumers are frustrated by the high number of different streaming services on offer. And, a trip to the Maryland Zoo, which is having to spend millions to update structures constructed in a different time with different sensibilities about animals. 

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• Feb 6, 2023

  Earthquake rocks Turkey and Syria

  

  From the BBC World Service: More than 1,000 people have been killed and over 5,000 wounded after one of the most powerful earthquakes to hit the region in decades. It has left aid organisations calling for financial aid and other forms assistance. Plus, it’s another week of strikes in the UK and today marks the biggest in the history of the health service as thousands of nurses and ambulance workers walk out over pay. We look at why no pay deals have been agreed after months of unrest. And, how strong is your coffee? New research has found caffeine levels vary widely among the big brands.

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• Feb 3, 2023

  On cue, job gains blow past expectations

  

  This morning’s jobs report is out, and the number was staggering — 517,000 jobs added relative to the 187,000 that economists expected. FHN Financial Chief Economist Christopher Low breaks down how to interpret the numbers. The tech sector is in rough shape, and this earnings season’s results are confirming how deep the malaise goes. And, the state of Tennessee is rejecting millions of dollars in federal HIV aid partly because it wants to deny funding to abortion providers like Planned Parenthood. 

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