Week of October 2nd, 2017

Congress has yet to strike a deal on the Children’s Health Insurance Program. We hear what this means for kids in need of medical care. Plus: It’s been over 20 years since the federal government fully funded gun violence prevention research. We talk about the impact of this. And how one man is trying to keep the U.S. carnival industry afloat using a controversial migrant worker visa. 

The documentary “Farewell Ferris Wheel” looks at the world of Mexican migrant workers at carnivals.

Using an index that's representative of retirees would mean a bigger monthly check, but it's a tough sell.

And how funding for gun violence research could make a difference.

It’s jobs day. The numbers weren’t great, in part because of the hurricanes that hit Florida and the Gulf Coast, but also because of the way jobs numbers are crunched each month. We’ll explain. Then: Amazon is testing a new service in its quest to (very nearly) take over this country’s retail economy: shipping. Later, we’ll bring you the latest on President Donald Trump and the Iran deal, and, as always, we’ll wrap up the week in business news.

Nela Richardson of Redfin and Sudeep Reddy of Politico join us to discuss the week’s business and economic news.

(Markets Edition) The jobs numbers have been released and while the big news is a contraction of 33,000 jobs for September, we take a closer look at many factors, including the job growth the hurricanes spurred, promising car sales data and a drop in the unemployment percentage. Plus, Elon Musk wants to replace Puerto Rico’s shattered electricity grid, and the GOP wants to reform intergenerational wealth transfer, dropping the tax on estates of more than 5.5 million per individual left behind.

A group of film industry heavyweights discuss the state of the movie business.

CHIP helped insure 9 million children, and its funding expired last month. What happens next depends on where you live.

U.S. economy lost 33,000 jobs in September due to hurricanes.

A recent United Airlines flight carried volunteer workers into Puerto Rico and evacuated residents who wanted to leave.

Hurricane season this year was rough on the economy: Harvey and Irma likely erased September job growth, and half of Puerto Rico is still without running water two weeks after Maria struck. A silver lining for Puerto Ricans could be the repeal of the Jones Act, which blocks ships from docking on the island unless they are American-built and operated, and has been temporarily lifted in the wake of the storm. If it were repealed entirely, increased competition from foreign ships would drive down prices of deliveries to the island and speed up the long recovery ahead, but could negatively effect Florida’s shipping and shipbuilding industry. On another note, we discuss sexual harassment allegations against Harvey Weinstein with an editor who’s been on the prominent movie producer’s case for a long time.

The September jobs report from the Labor Department comes out today, and hurricanes Harvey and Irma are likely to show up in the numbers in different ways. In Texas and Florida, where the hurricanes did significant damage, employees couldn’t get to work, workplaces shut down, job interviews got cancelled. All that could make job-creation numbers […]

(Global edition) From the BBC’s World Service … Global stock markets in Asia and the US have soared to fresh highs. Are investors creating a bubble that will inevitably burst? Or is it just a sign of a stronger economy? We look at why low interest rates aren’t the sole driver of booming markets, and the factors that could upset the apple cart. Then, to Moscow, where Saudi Arabia’s King – complete with his entourage and a golden escalator – met Vladimir Putin, Russia’s president, to discuss deeper ties and the new normal for oil prices. We also have the second part of our China series, where young people are sinking deeper into debt, and loan sharks are now accepting naked selfies as collateral.

After this week’s mass shooting in Las Vegas, both Google and Facebook promoted false news stories about the massacre. Both platforms took down the stories, but not before they were widely shared. Today on Marketplace Tech, we look at how fake news is promoted and why algorithms might not be enough to stop it.

It's probably going to take more than algorithms.

With private money at a record level and projects ready to go, the president decides the partnerships are "more trouble than they're worth," leaving states to make their own deals with investors and to hope for federal funding.

(Markets Edition) Big announcements this week: job creation numbers for September come out tomorrow and it could be the first report in seven years with no growth, due in part to the tenacious hurricane season. Obamacare plans for the upcoming year were rolled out, with prices surging in some states and better deals becoming available in others. And we take a look back on the tumultuous history of diet soda, from its height in the 1980s to its near-extinction today.

Is Facebook too big for anyone to understand how big it really is? Even Mark Zuckerberg?

President Donald Trump gave his assessment of the American economy this morning on Twitter: “Stock Market hits an ALL-TIME high! Unemployment lowest in 16 years! Business and manufacturing enthusiasm at highest level in decades!” A couple things about that: Markets go down too, and unemployment was only at a 16-year low back in June. It’s not clear what “business enthusiasm” metric he was using. But look: It’s a long-established tradition for presidents to claim credit for the country’s economic successes. Whether that credit’s always deserved? That’s less clear. Also on this show: We’ll bring you the latest on Republicans’ tax plan and examine a play all about junk bonds. Plus: Our reporter hitched a ride yesterday on a planeload of union nurses, truck drivers and electricians headed from New York to Puerto Rico.

We check in with Lisa Goldenberg of Delaware Steel, who believes it's the American people who are suffering.

In Ayad Akhtar's new play "Junk," he tackles the precarious financial world of the 1980s.

The cost of uncertainty: President Donald Trump's threat to Obamacare subsidies drives up premiums.

Lenders would have to check a borrower’s ability to repay a loan but there are lots of loopholes protecting the loan business.

(U.S. Edition) Marketplace’s Tracey Samuelson is back from Puerto Rico with an update on efforts to rebuild the island since Hurricane Maria struck on Sept. 20. Many residents aren’t receiving the recovery aid President Trump touted during his recent visit; only 10 percent of residents have power and less than half the population have running water. Then it’s on to the debate over new rules that would drastically change the landscape of the 39 billion dollar payday lending industry. And in California, the battle to close the gender pay gap endures with new legislation that would require companies with 500 or more employees to report data on the difference between men’s and women’s wages.

(Global edition) From the BBC World Service … Spanish stocks have been on a rollercoaster ride since Catalonia voted for independence. We look at the short, medium and long term factors that will determine the fate of the eurozone’s fourth largest economy. We also travel to Xiong’an in China, described as China’s next mega city and a leader in green development. We ask if this new sixty mile economic zone will be a success or a project fuelled by debt that is building more bridges to nowhere. Then, India was the world’s fastest growing economy in 2016, but the country’s decision to yank millions of banknotes out of circulation has hit the economy. We examine what Indian ministers and heads of industry are talking about at the World Economic Forum in Delhi.

If you had a Yahoo account in 2013, it was hacked. Verizon, which now owns Yahoo, announced this week that all three billion of Yahoo’s accounts were hacked. Yahoo had previously said only one-third of user accounts were affected. Why is the company just figuring this out now? On today’s show, we talk to Chester Wisniewski, a senior security researcher at Sophos, a network security company, about what happened and what you can do if you were affected.

Some Republicans said they’d be open to considering legislation that would ban them.

Today we want beverages with “ingredients you can pronounce.”

All Yahoo accounts created before 2013 have been hacked.

Some employers say the bill would shame companies without justification.

After a tragedy, like the one in Las Vegas Sunday, we’re left with many questions. Here’s just one: If you run a hotel, or a festival, or anyplace where a lot of people gather, what do you do now to keep them safe? Security at big events and heavy traffic areas is already tougher than it used to be, and hardening those soft targets doesn’t come cheap. Then: One very basic way to think of what the White House and Republicans in Congress are trying to do with the tax code is get rid of deductions to help pay for lower tax rates. A big one is the corporate tax deduction, and businesses hold it dear. Plus, a conversation with Marriott CEO Arne Sorenson about the election, Airbnb and how his company became the largest hotel chain in the world.

FC Barcelona is a soccer club, a global brand and a symbol of Catalan identity.

A conversation with Marriott CEO Arne Sorenson.

He talks about how the travel ban has hurt the company's U.S. hotels, why he really hopes tax reform happens, and what travel of the future will look like.

For some companies, the deduction is key to doing business. For others, it's a fat loophole.

MacArthur "genius" grant winner Jose Quinonez of Mission Asset Fund in San Francisco talks about his efforts to help DACA recipients renew their permission to stay in the U.S.

(Markets Edition) Uber’s board has voted on a series of decisions that’ll reduce the influence of former CEO Travis Kalanick. And now there are reports that Uber plans to go public sometime in 2019. The University of Michigan’s Erik Gordon joined us to discuss what Uber will need to do ahead of this IPO, and if others will be able to draw lessons from the controversies that have plagued the company. Afterwards, we’ll discuss who might helm the Federal Reserve next year, and then hear from Cate Long — founder of Puerto Rico Clearinghouse — about Puerto Rico’s $73 billion debt and the people to whom that debt is owed.  

Want to swap your cubicle for a cruise ship? Here is what you need to know.

While rebuilding will take time, many small businesses have rebounded quickly.

Without big sponsors, women's football survives on school-style fundraising, the NFL's first female coach says.

The EU has fined Amazon nearly $300 million.

(U.S. Edition) The European Union is telling Amazon to fork over $300 million in unpaid corporate taxes to Luxembourg. We’ll look at why this might actually be bad news for Luxembourg, and how much of a dent this would have on Amazon’s finances. Afterwards, we’ll discuss a new name that’s emerging in discussions about the future Fed Chair: Kevin Walsh. What’s his resume look like and what are his policy stances? Plus: We chat with Jose Quinonez, a MacArthur genius grant winner and founder of Mission Asset Fund, about helping DACA recipients renew their permission to stay in the U.S. 

(Global Edition) From the BBC World Service … Girls are regularly outperforming boys in the classroom, but why isn’t this translating into better opportunities in the workplace? We speak to Willem Adema, lead author of a new OECD report on the subject, who warns there has been little progress over the past five years. We also explain why Chad in central Africa was included in the latest U.S. travel ban. Then, to the World’s Bank’s latest Asian economic outlook. While the organization is optimistic on the region’s growth outlook, it has stepped up its warning about China’s Great Wall of debt. And finally, Amazon faces a hefty bill from European regulators due to unpaid back taxes.

There’s a lot of talk about smart machines taking our jobs. But AI pioneer Andrew Ng thinks we should focus on programming those smart machines in the first place. Ng is the co-founder of the massive online open course company Coursera. This fall, Coursera is offering classes in deep learning, a type of artificial intelligence. We ask Ng: In the future, will the world be split into two kinds of people — those who know how to code and those who don’t?

One AI pioneer said learning the basics of coding and AI could be key to income equality and opportunity in the future.

Two weeks after Hurricane Maria tore though Puerto Rico, and residents are struggling to get basic supplies and power. President Donald Trump made his first trip to survey the damage today and do a little back patting for the federal response. He also joked the disaster was throwing the federal budget “out of whack.” The truth is the cost of aid is far from the only thing in D.C. with big budget implications. Take the GOP tax plan: White House Budget Director Mick Mulvaney is saying it has to add to the deficit to be effective. We’ll start the show sorting through that claim. Then: Solar panels are cheaper than ever, but they’re still out of reach for the people they could help most. Take Brunswick, Georgia: The poverty rate’s 41 percent, and electric bills can top $250 in the summer. Can it benefit from the solar boom? Plus, the latest on Facebook’s ad sales to Russian operatives.

(Markets Edition) The era of gasoline and diesel cars may be over. The CEO of General Motors, Mary Barra, has announced that its future is all electric, while Ford has announced a new team to accelerate its electric car development. Jamie Kitman, New York editor for Automobile Magazine, joined us to talk about this major shift and how the stock market is treating companies that make electric cars. Afterwards, we’ll look at how 40 Roman Catholic organizations are divesting from fossil fuels, and then discuss how Russian-backed Facebook ads were used to target American voters.

A preview of our new season, about regulations in America.

A new survey sheds some light on how millennials from different racial and ethnic groups view education.

Christopher Kimball is loosening his bow tie and having more fun in the kitchen.

What's behind today's biggest faith-based fossil fuel divestment in history?

Brunswick, Georgia is trying to install solar panels in a field, so it can sell the power to the local utility for a rebate that can be given to low-income residents.

Phoenix made a deal with the nearby Gila River Indian Community to share the tribe's water supply.

(U.S. Edition) After Sunday night’s shooting in Las Vegas, emergency responders rushed hundreds to hospitals. On today’s show, we’ll look at how hospitals prepare for mass trauma. Afterwards, we’ll talk about the former Equifax CEO’s planned appearance on Capitol Hill, and whether lawmakers will do anything to help prevent huge data breaches in the future. And finally, we’ll chat with the University of Chicago’s Cathy Cohen about millennial attitudes toward education.

Congress is debating whether the U.S. should create a Space Corps.

(Global Edition) From the BBC World Service … The Catholic Church has announced the largest ever faith-based divestment from fossil fuels, adding to a global movement that has already seen more than $5 trillion pulled out of investments in oil, coal and gas. We speak to Geoff Davis, the so-called “Green Bishop,” in Cape Town, South Africa, about how the church is leading the way on climate change. We’ll also ask what’s next for Rovio, the Finnish company behind the popular Angry Birds game, as it debuts on Helsinki’s stock market. Then, to Kiruna in the far north of Sweden. The town is located on top of the world’s largest iron ore mine, and officials now face the gargantuan task of relocating two miles east to prevent homes and businesses from sinking into the ground.

The National Defense Authorization Act specifies the budget every year for the Department of Defense. The House and Senate have each passed different versions of it. One major difference between the two: the House version includes funding for the militarization of space through a new military branch called the Space Corps. Molly Wood talks with Marketplace’s Kimberly Adams about what it might look like.

As the police and FBI in Las Vegas try to figure out the “whys” of last night — not that there can really ever be an answer to that question — we’re going to stay in our lane today and just note that President Trump will make a trip to the city Wednesday. Before that he’ll travel to Puerto Rico, bringing with him news of a $13 billion request to Congress for emergency assistance. FEMA director Brock Long pointedly defended the federal response amid mounting criticism, adding that Washington’s trying to get the private sector more involved. Then, onto tax reform: There’s a disconnect between Republicans, who are pushing tax cuts to spur growth, and the Federal Reserve, which says things are doing just fine. Plus, what you need to know about the unrest in Spain.

During his campaign, Trump has promised to defend the second amendment.

Our tax code supports a whole lot of social programs. No wonder it's complicated.

(Markets Edition) A gunman opened fire on a music festival in Las Vegas, Nevada, killing at least 50 people and injuring more than 400 others.  Reports say as many as 10 weapons were found in the dead suspect’s hotel room. Rob Cox, global editor with Reuters’ Breakingviews, joined us to discuss what mass shootings like these mean for gun sales. Afterwards, we’ll look at the future of net neutrality, and then talk about the Supreme Court’s plan to hear arguments about an employee’s right to resolve disputes through class-action lawsuits instead of private arbitration. 

Ninety percent of the nearly 2.5 million votes were in favor of independence.

It's a bird! It's a plane! It's a multibillion-dollar industry getting even bigger!

As Paris becomes more pedestrian-friendly, suburban commuters who depend on their cars and some businesses raise concerns.

(U.S. Edition) Spain is in crisis this morning after Catalonia voted for independence. Hundreds of people were hurt after Spanish police used anti-riot tactics to disrupt the vote. We’ll hear from the BBC’s Gavin Lee, who’s in Barcelona right now, about the steps that’ll be taken going forward. Afterwards, we’ll look at new “reverse mortgage” rules that’ll make harder for retirees to take out loans against the equity of their homes. And finally, we’ll discuss New York City’s decision to invest $155 million a year on lawyers to represent low-income tenants.

A new law gives low-income residents access to free legal help in housing court.

International students are increasingly looking to business schools outside the U.S.

(Global Edition) From the BBC World Service … Catalonia powers more than 20 percent of the Spanish economy and this weekend its citizens voted for independence despite the government branding the poll illegal. We’ll look at the fallout from the vote and the impact on the eurozone’s fourth-largest economy. We’ll also examine what’s been driving up Japanese business confidence ahead of a snap general election where Shinzo Abe is vying to become the longest-serving prime minister in Japanese postwar history. Then, President Trump may boast about his business acumen, but many international students are now flocking to locations outside of the US, such as Nottingham in the U.K., to complete their MBA amid a heated debate surrounding U.S. immigration.

Affirm wants to be the alternative to all those credit cards in your wallet.

Almost 40 percent of American households have some kind of credit card debt. A startup called Affirm wants to provide an alternative. It partners with stores to offer loans for when you make a big purchase, like a mattress or a bike. Affirm was started by PayPal co-founder Max Levchin. Marketplace Tech host Molly Wood talks with him about the project and his own early borrowing mistakes. 

An in-depth conversation with PayPal co-founder Max Levchin on American debt and his new startup, Affirm.

Authorities say the suspect has died.