Week of July 8th, 2013

For the past 23 years, there's been one up-close observer of Wall Street. A new short film offers perspective from the point-of-view of The Charging Bull of Wall Street.

This week, Greece got mixed signals from the International Monetary Fund — and the coming week looks equally murky.

For the next few weeks, we’re devoting Marketplace Money to the basics, concepts like banking, investing, saving and credit. This week, we’re devoting the show to money, how we interact with it, and what the future of money looks like. The next time you hold a dollar in your hand, consider this: money is just paper. It only has value because we all believe it does. But where does this collective faith in money’s worth come from? Also, a look at how money is portrayed in pop culture. Plus, we explore the best ways to save, spend and invest your money. And forget the Washingtons and Benjamins. Dump the credit cards. These days, Bitcoin and mobile phones pay for stuff. How are new currencies changing our behavior? Finally, a visit to the future spenders of money: children, and a few personal finance experts suggest their favorite finance-related books for your summer reading list. 

An Ethiopian Airlines 787 Dreamliner was sitting empty on the tarmac at Heathrow Airport in London, minding its own business, when it caught fire.

JPMorgan Chase and Wells Fargo reported higher profits, after a quarter in which interest rates rose sharply.

As the week wraps up, Congress seems to be stymied again by its own inaction. Was this week a waste of taxpayer dollars? Or a savings? We analyze why Wall Street continues to be in such a happy mood. And when it comes to health care, 10-minute physicals and keeping track of reimbursements don’t just make patients mad, they drive doctors crazy too. So across the country, thousands of doctors are ditching insurance and taking a hint from luxury hotels.

Are we moving towards leaving our cash and credit cards at home?

Ten-minute physicals and keeping track of reimbursements don't just make patients mad, they drive doctors crazy too. Across the country, thousands of doctors are ditching insurance and providing "concierge care."

The virus is deadly for piglets less than a week old. Suspected to come from China, it does not affect humans.

A group of high school students spends a day navigating the complicated financial decisions of adulthood.

I graduated from law school two years ago with more than $150k in student debt, all government loans. I work in legal aid, which I love, and plan to take advantage of loan forgiveness after ten years. I currently make loan payments based on my income of ~$40k. I'm saving to buy a house in the next few years, but I am worried that with my debt-to-income ratio, I won't be able to get a mortgage or if I do, the terms will be awful. What are my options? Will any mortgage provider take into account the loan forgiveness program I quailify for?

Those pieces of paper we call cash only have value because we all believe they do. So, why does our collective faith in money actually work?

On Sunday, India's last official telegram will be sent from state owned telecom company BSNL, cutting the cord of an old technology that was the fastest way to communicate before landlines, mobile phones and email.

Congress returns from its Independence Day recess and fails to reach any compromise on the farm bill, student loans and immigration.

Cybersecurity and Edward Snowden received most of the attention at high-level U.S.-China talks this week. Also high on the agenda? Foreign direct investment.

U.S. officials gave American Internet providers information on suspected cyber spies in China as part of a secret program to defend against cyberespionage.

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UPS profits: Alarming news comes next day air. Lawmakers look to shore up America's northern border. And states' refusal to expand Medicaid complicates health care for many uninsured.

UPS is out this morning with a warning that its profits will be lower than expected. What does that signal for the rest of the economy?

As technology evolves and makes it easier for consumers to use their phones to pay for things, will it change our behavior as well?

Syfy's 'Sharknado' made a splash on Twitter Thursday night, even actress Mia Farrow joined in. But when looking at the numbers the day after, the social media attention wasn't reflected in TV viewership.

21 states have refused to expand Medicaid as provided under the health care reform law.

A new survey finds that one in 10 American adults admits to using a smartphone during sex. And among 18-34-year-olds, it's one in five.

Some say at its heart, Microsoft CEO Steve Ballmer's plan is meant to unify a company that has been more of a group of tech fiefdoms.

We've said it before but this time, it's for real. Google's RSS feed Google Reader will be cutting off users from retrieving their RSS data on Monday.

The gyroscope-balanced C-1 two-wheeler, made by San Francisco startup Lit Motors, is purposefully small and designed to change the rules of the road in cites.

The French Revolution — and much of the France we know today — was born at a time of economic crisis and famine.

Answering your questions on personal finance and helping you understand the basics of what you need to know about money and banking.

China and America discuss investing in each other’s countries. The U.S.-Canada line is the longest international border in the world, but the American security budget for it is a sliver of the billions it spends along the southern border. And in France on Bastille Day this Sunday, what’s there to celebrate?

Microsoft has made official its long-rumored plans for a major reorganization. CEO Steve Ballmer’s plan reduces the company’s number of separate business divisions and puts new focus on devices — like the Surface tablet and the Xbox console. The gyroscope-balanced C1, made by San Francisco startup LIT Motors, is purposefully small and designed to change the rules of the road in cities. And on Sunday, India’s last official telegram will be sent from BSNL, the state-owned telecom company.

As Wells Fargo and JPMorgan Chase kick off bank earnings season, it's a chance to see the effect rising interest rates are having on our nation's banks.

The U.S. border with Mexico may get all the attention, but the Senate's examining security issues along our border with Canada.

In her latest novel, author Aifric Campbell details the cutthroat and high-flying world of finance in the early '90s.

Personal finance experts recommend books to dive into this summer.

Data from the 2011 American Housing Survey — where we live and how we live — was released today.

My husband and I are both very cautious when it comes to finances. We've both frozen our credit files in order to prevent someone from opening up a credit card or taking out a loan in our names if our information was ever stolen. Now we have a 2 year old, and ever since she was issued her social security number (practically the day after she was born), I've been wondering how we can protect her from becoming a victim of identify theft. I tried freezing her credit files as well, but the companies said she had to be 18. One company said they don't knowingly maintain credit files on people under the age of 13, but that if we suspect someone is using her identity we can request a credit report. But how would I know to be suspicious? What suggestions do you have to help protect her? Or am I being too paranoid?

Meredith Vieira, former host on “The View” and “Today,” is set to debut a daytime talk show next year. What's the state of daytime TV and why does it seem like everybody has a talk show?

Turmoil continues in Egypt, but as news of $12 billion in aid and an interim prime minister appointment take hold, life on the ground in Cairo is also changing.

The cellular carrier announced a new program that will allow customers to upgrade their phones up to twice a year for a $10 monthly charge.

The tech giant plans to revamp its structure and management, as the tech world changes from PCs to mobile devices and cloud computing.

As Congress bickers over the interest rates on student loans — again — the question is, why is this so hard to figure out?

Would you pay $10 monthly to upgrade your phone twice a year? That’s a plan T-Mobile is instituting. Microsoft has some plans of its own. The tech giant will revamp its structure and management. As senators squabble over student loans, we wonder why the math is so hard to do. Plus, a look at life in Egypt during its time of transition, why the smartest electrical grid in the world will be tested in Afghanistan’s hostile combat zones, and author Aifric Campbell discusses her new novel “On the Floor.”

The U.S. power grid needs upgrading to manage all the stresses on it. The Army is testing a much smaller grid that cut fuel use in half, saving soldiers' lives.

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Revelations about secret government surveillance may have a chilling effect on the government's ability to recruit talented computer coders and hackers.

Susan Schmidt, head of equities at Mesirow Financial, discusses the key takeaways of the latest notes from the Federal Reserve.

The Fed is still in the game, and stocks are reacting. Which mobile payment service is right for you? And higher gas prices, a supply and demand story.

There's a lot of ways to pay for things these days without using cash. Credit and debit cards are the biggest, but mobile payments might be the next big thing.

Annual talks in Washington bring top government officials and business leaders together.

China’s security ministry claims executives of the British drug company GlaxoSmithKline have confessed to bribery charges.

Edward Snowden is likely headed to Latin America, where several countries have offered him asylum. What is the economic situation in each of these countries?

The severity of wildfires in the United States is likely to triple by the end of the century, according to a new study out of the University of Alberta.

Players are signing up for Wall Street Magnate in droves, in part, because the simulated experience reflects the stock market in real time.

The military topped a survey of occupations in the U.S. that people think "contribute a lot" to society.

Microsoft is announcing plans today for a large-scale reorganization of top management. To what degree tablets and other mobile devices will play heavily into the reorganization isn’t clear yet. And there’s a new online trading game called Wall Street Magnate. Players are signing up in droves, in part, because the simulated experience reflects the stock market in real time. And a Twitter account that re-Tweets matching anagrams. The world is against you. No seriously, I want a dog.

Stop stealing secrets and play fair. America airs its business complaints about China at a meeting between the two countries in Washington today. GlaxoSmithKline faces bribery charges in China. And what kind of life is ahead for Edward Snowden in Latin America?

What does a rumored management shake-up at Microsoft mean for the tech giant?

The NSA may have been wiretapping cell phones, but they weren't getting that data for free.

The Securities and Exchange Commission voted to lift a ban on publicly soliciting your investment dollars for companies not traded on the stock market.

Netflix has hit the ground running in developing original content for the site. We talk to the company's chief content officer about how they differ from TV, and what makes a good Netflix show.

Address labels: When a "free gift" fails to keep up with the times.

It's crunch time for lobbyists pushing immigration reform. How much should lobbyists spend to get legislators on board?

The Food and Drug Administration wants manufacturers to improve the cybersecurity of medical devices.

A judge has ruled that Apple conspired to set e-book prices. How much are consumers willing to spend on e-books?

What’s the price of snooping worth to the U.S. government? It can cost some serious money. Plus, how safe are your medical devices? Cybersecurity experts have found alarming vulnerabilities  among pacemakers and insulin pumps. In tech news, a judge ruled that Apple conspired to raise e-book prices. And Netflix’s chief content officer discusses the changing face of TV. Also, a look at the lobbying behind immigration reform,  how an SEC rule change will allow hedge funds to raise money by advertising to the public, and an oil rigger on how the oil boom in North Dakota is changing global markets.

Tait Salzer moved to North Dakota to get in on the state's oil boom. He works an oil rig.

Michael Levi of the Council on Foreign Relations discusses two unfolding energy revolutions: the natural gas boom and the rise of renewables.

A federal judge ruled this morning that Apple colluded with five major U.S. publishers to fix e-book prices.

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Egypt's gets a new prime minister with an economics background. And markets come up short in providing crucial drugs for premature babies.

More nuanced news from the Federal Reserve today on the future of its stimulative bond buying program – and Wall Street is reading the tea leaves.

Some fear the closures could hurt immigrants — Somali expatriates in particular — who rely on the transfer services to send funds back home.

Egypt gets an interim prime minister with an economics background, former finance minister Hazem el-Beblawi.

The greeting card company’s founding family is trying to take American Greetings private. It’s been hit by e-cards, like most paper products companies.

American Joy Chen's book 'Do Not Marry Before Age 30' has become a hit in China, where traditional society labels unmarried women in their late 20s 'leftover women.'

A study says simply drawing pictures of comfort food can make you feel better.

Lots of European retailers have signed onto a new pact to institute stricter rules after the factory tragedy this year. Which U.S. companies will follow suit?

Nationwide drug shortages are causing hospitals to ration critical nutrients premature babies and other patients need to survive.

Five years ago today Apple’s App store opened for the first time as an expansion of the company’s online marketplace iTunes. On its first day, there were only about 500 apps available. At five-years-old, it offers over 850,000. This week Apple’s been offering a bunch of its apps for free to celebrate. But that’s not actually all that unusual. The complex ecosystem of apps has gone through quite a pricing evolution.

Walmart, Target, Gap and other U.S. apparel companies are expected to announce their plan to protect Bangladeshi garment workers this morning. They previously declined to join a global deal with European retailers after April’s factory collapse, which killed more than 1,100 people. Barclays cracks down on moneylaundering. And an American author takes aim at the Chinese concept of ‘Leftover Women’.

Many housing developments were mothballed when the housing bubble burst several years ago. In states like California, they're being reanimated as demand for new houses increases.

When it comes to what motivates shoppers, culture can change how people think of different consumer products.

Developing nations haven't weathered the 2008 financial in the same way. One author says we should stop pretending they have.

In cities like Milwaukee, where unemployment hovers around 10 percent, scrapping for junk metal has become a way to earn a living.

LIBOR is back in the headlines. Do we really have to care? (The answer is ‘yes’, and we’ll tell you why). Also, the Twinkie is back. The new owners of the Hostess company has started to manufacture the pastry again, but with fewer operating costs. What’s the economic recipe for the new Twinkie?

Lifted ban on high rise office towers in Paris has created a building boom and controversy in the city of light.

LIBOR is back in the headlines. How does today's news impact me?

According to a global public opinion survey, most people in the world believe corruption has increased in the last two years.

Twinkie is back in business after a big slim down — cheaper wages, fewer benefits, and other cost-cutting measures.

Samsung came up with what seemed like a cool promotion: give away a million copies of Jay-Z’s new album. But how it handled the giveaway got it the wrong kind of publicity.

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Christie's auctioned off one of the world's first Apple computers for $390,000 today. Why was the price so high?

Maybe it’s a record player, slide projector, or a toaster oven you bought in 1992. Does your old gadget outperform new technologies? Why are you still holding on to it?