Week of January 1st, 2018

But what about wages?

The industry says disclosure puts it at a competitive disadvantage.

The Golden Globes will be getting an all-black makeover in solidarity with Time's Up.

During the next few weeks you’ll be hearing from from some of the world’s largest companies about big, one-time write-downs against their financial results. Think multinationals like Microsoft, Alphabet and Johnson & Johnson. Many are expected to warn that their profits will be hurt by the huge bills they have to pay under the new tax law. But those write-downs are just small setbacks on the way to big windfalls. We’ll explain. Then: everything you need to know about the rotisserie chicken boom (you’re living in it) and this weekend’s Golden Globes. Plus, we’ll talk about the latest jobs numbers in the Weekly Wrap.

A Food Empowerment Project study found that a lot of people are time poor as well as cash poor.

At a lot of markets, the rotisserie bird is the hottest-selling item, pun intended.

Fitness class scheduling business MindBody takes a shot at filling empty spots with a classic pricing model.

For every $1 insurance companies reimburse primary care doctors, they reimburse mental health professionals only 83 cents. Even when treating the exact same thing, like depression.

This week we dive into the industry that wants to make the better version of you. From workout routines to diets to therapy apps to food fads, the market has been flooded with wellness products. But have they actually changed the way we feel or the money we spend on health needs? And who has access? Those are the questions on our minds this week. We look at how the term wellness has evolved, why it’s so hard to find mental health services that take insurance and apps that want to make you fit. Plus, food crazes, food deserts and the economics behind eating healthy.

(Markets Edition) The December jobs report has just been released,  revealing that the economy added 148,000 jobs and the unemployment rate held steady at 4.1 percent. We’ll evaluate these numbers with Jay Bryson, managing director for Wells Fargo Securities, and then take a closer look at the report’s data on the retail sector and wages. Afterwards, we’ll discuss the Trump administration’s proposal to give leases for offshore oil and gas exploration in places where it’s currently banned, and then talk about the rise of natural gas prices following the East Coast’s winter storm.

We investigated the cost of a surprisingly popular New Year's resolution — learning to do a headstand.

The unemployment rate remained the same for the third straight month.

(U.S. Edition) More than 200,000 jobs were added to the economy in both October and November, but that streak might not continue in 2018. On today’s show, we’ll discuss what job growth might look like in the upcoming year. Afterwards, we’ll look at the the high costs of flu care as hospitals across the country see a spike in the number of flu hospitalizations, and then examine why the skills that workers pick up in retail might not translate to fulfillment centers.

They pay better, but require different skills.

(Global Edition) From the BBC World Service … For years, stock exchanges around the world have been jockeying to attract the potential public stock market debut of Saudi Arabia’s state-owned oil company Aramco. Today, a key legal hurdle was passed, inching the estimated $100 billion listing, expected to be the biggest in history, closer to a reality. Afterwards: we’re only five days into 2018 and yet markets around the world, from Tokyo to London to New York, are hitting record highs. What’s behind the rally, and can it last? Then, around 58 billion disposable coffee cups are used worldwide every year, creating mountains of waste. A U.K. government committee report out today is calling for a 25 pence ($0.34) “latte levy” on disposable cups. Will British coffee addicts stage a revolt?

In the world of startups, getting venture capital funding isn’t exactly easy. It’s sort of a business of who-knows-whom. And getting in front of investors can be key. Enter the accelerator. These are for-profit business incubators that invest in groups of startups, give them advice and mentoring, and connect them with other investors. One of the biggest tech accelerators is Y Combinator. It has funded companies including Airbnb, Instacart and Dropbox. Marketplace Tech host Amy Scott talks with Michael Seibel, who leads Y Combinator’s accelerator program.

This week, we’re zooming out to trace the unexpected ways regulators and corporations are intertwined.

The wellness industry is worth billions globally and it is growing.

Spectre? Meltdown? The security flaws found in CPU chips this week sound pretty bad, and it’s true that they affect basically all computing we do. We’re kicking off today’s show with everything you need to know, and how Intel and other tech giants can avoid these vulnerabilities in the future. Then: Attorney General Jeff Sessions has rescinded an Obama-era policy that helped legal marijuana thrive in parts of the United States. We’ll look at what the order could mean for the nascent multibillion-dollar industry. Plus, the latest on earnings from the auto industry, and why some companies could be limiting growth because there just aren’t enough people to work.

The new five-year drilling plan also could open new areas of oil and gas exploration in areas off the East Coast from Georgia to Maine, where drilling has been blocked for decades.

With growing labor shortages in some industries, companies may have to limit their growth.

An analyst walks us through the Meltdown and Spectre bugs.

(Markets Edition) With news that there are two vulnerabilities affecting nearly all of the world’s computers, we’ll talk to a security expert about possible remedies. Afterwards, we’ll look at what the December jobs report — set to be released tomorrow — might look like, and then discuss how states as far south as Florida and Texas have been dealing with the icy, snowy weather.

Attorney General Jeff Sessions is rescinding the Obama-era policy that has generally barred federal law enforcement officials from interfering with marijuana sales in states where the drug is legal.

(U.S. Edition) Security researchers have been scrambling for months to fix flaws in microprocessors inside almost every computer you touch. We’ll discuss why the two bugs— Meltdown and Spectre — are vulnerable to hackers. Afterwards, we’ll look at whether Americans really want to know how the products they purchase are made, and then explore what’s known as “Fat Cat Day” in the U.K. — the point in time when the average British CEO has already earned what the average worker makes in a year.

A survey from the site The Grommet found that Americans have an "ignorance is bliss" mindset.

(Global Edition) From the BBC World Service…Meltdown and Spectre — those are the two bugs you need to know about today. Intel confirmed that its chips are vulnerable to the security flaw, and security experts have said firms using cloud computing services might be particularly hard hit. We tell you what you need to know to protect yourself. Afterwards, the U.S. and Turkey finally reinstated travel visas this week, but the diplomatic standoff continues after a Turkish banker was convicted in New York in connection with a massive scheme to help Iran evade U.S. sanctions. We get the view from Ankara, Turkey’s capital. Then, a new report out today in Britain warns that rising minimum wages could harm workers. How can countries raise wages for the lowest paid workers while also ensuring jobs aren’t destroyed in the process?

The Trump administration is asking NASA to send astronauts back to the moon. This would be the first American lunar mission since 1972. The administration says that traveling to the moon will build a foundation for trips to Mars and beyond. But they’ll need to establish funding for it first. Marketplace Tech host Molly Wood talks about the initiative with Kimberly Adams, who follows space for Marketplace. 

President Trump issued a slew of regulatory rollbacks over the holidays.

As markets hit new records today, the energy industry is preparing to set a new record of its own. The so-called “bomb cyclone” threatening the East Coast with snow and chilly temperatures could push natural gas use to new heights. We’ll take a look at how utilities are preparing. Then: Leaving aside the dishier news out of the White House today, let’s talk about President Donald Trump’s Twitter feed. On New Year’s Day, he complained about the aid we send to Pakistan and criticized its government for not doing more to stop terrorism. Yesterday, he targeted aid to Palestinians, questioning whether payments should continue. So with that in mind, let’s talk about the role aid plays in foreign policy. Plus, the yearslong wait for even a chance at subsidized housing in Los Angeles and Broadway’s record-breaking year.

Nonprofits worry about the loss of institutional knowledge as offices are forced to close amid a slow down in refugee admissions.

In Los Angeles, it can take 10 years to get a voucher — if you're lucky.

The Washington Post's Jena McGregor breaks it down.

(Markets Edition) European regulators are officially overhauling the rules that govern financial services and markets in Europe, with the aim of bringing transparency to the financial services industry. We’ll talk with Justin Urquhart Stewart — partner and cofounder of Seven Investment Management in London — about how people in the industry are handling these changes. Afterwards, we’ll look at why Nashville’s mayor is pushing for the end of the city’s inpatient unit at Nashville General Hospital.

Retail workers are banding together to amplify their voices.

(U.S. Edition) About 12,000 retail stores are expected to close over the course of 2018. With this massive upheaval in the industry, we’ll take a look at how mall operators are responding to these closures, and then talk to Stuart Appelbaum — president of the Retail Wholesale and Department Store Union — about whether retail workers will band together like coal workers have. Plus: How big tech companies are helping the Nasdaq reach record highs.

Nashville Mayor Megan Berry has proposed ending the inpatient unit of Nashville General Hospital and rethinking the city's role in caring for the uninsured.

(Global Edition) From the BBC World Service …Today has been dubbed the “Day of the MIFIDs”  in the U.K. — when the biggest changes to European financial regulation since the financial crisis come into effect. So will it actually make investing in Europe safer for consumers? Afterwards, it’s the biggest Chinese acquisition that the Trump administration has blocked yet. What’s behind the decision to prevent the Chinese internet giant Alibaba from buying the U.S. money transfer service MoneyGram? Then, on New Year’s Day, President Trump vowed to cut aid to Pakistan if authorities there didn’t stop playing what the U.S. calls a “double game,” sometimes helping, sometimes harming U.S. troops. The reaction in Pakistan has been defiant so far, but if the president follows through with action, how will that affect a country that’s been reliant on U.S. aid since the 1980s?

Disney has just opened a virtual reality ride called “Star Wars: Secrets of the Empire,” at Disney World. Riders go on a mission to recover intelligence that’s essential to the Rebellion’s future. And virtual reality might also be the future of amusement parks — in part because it can be cheaper. A typical headset costs about $400 to buy, as opposed to a big moving platform and screen, which can cost millions to install. Marketplace Tech host Molly Wood talks about the economics of the virtual amusement park with Elbert Perez, co-founder of Doghead Simulations, a virtual reality software company.

Retailers posted strong sales in late 2017, despite the growth of online shopping.

Congress has to pass legislation to fund the government by Jan. 19 or there will be a partial government shutdown, which some policy analysts see coming. That’s because Democrats and Republicans are far apart on issues like immigration, defense spending and the Children’s Health Insurance Program. Meanwhile, on the other side of the country, Californians are dealing with the cost of disastrous wildfires. It’s too early to know how many billions of dollars in damages there will be, but there is already a legal battle brewing over who will pay for it all. Also on today’s show: puppies! 

Lawmakers in California have introduced a bill to make it harder for state utilities to have customers cover the cost of fire damage.

Many residents said the country's soaring unemployment and rising prices had driven people to the point of desperation.

The number of retail workers far exceeds the number of coal miners or recent manufacturing employees, points out Columbia University professor Mark Cohen.

(Markets Edition) Even though the Federal Reserve engineered a few short-term interest rate hikes last year, the cost of borrowing a house or apartment didn’t really go up. To find out if mortgage rates will rise in 2018, we’ll check in with David Kelly, chief global strategist at JP Morgan Funds. Afterwards, we’ll discuss how restaurants near Amazon’s first headquarters haven’t brought in the number of customers that their owners expected. Plus: A look at the high price of youth sports.

Many Americans had less of an incentive to give, as the law doubles the standard deduction.

Amazon's HQ1 neighborhood empties out at night, so some restaurant owners aren't finding the dining market they expected.

(U.S. Edition) Regulators have been working on some massive new rules, called MiFID II, for European financial markets that’ll take effect at midnight. On today’s show, we’ll take a look at some of the reasons for this overhaul, which include trying to improve protections for investors. Afterwards, we’ll chat with Mark Cohen, head of retail studies at Columbia Business School, about the shifts happening in the retail sector and whether we’re headed toward a “retail apocalypse.”   

(Global Edition) From the BBC World Service … Iranians have taken to the streets in some of the biggest anti-government protests the country has seen in years. One thing underlying their discontent? A sluggish economy that hasn’t seen the expected benefits from the lifting of U.S. sanctions. Afterwards, Egypt’s leading cleric has issued a fatwa against the cryptocurrency bitcoin, saying it violates Islamic law. Then, as of Monday, China has banned the import of foreign plastics. The country has long been the final destination for Western trash — so where will discarded plastics now go?

This week we’re bringing you our favorite episodes of the year. Companies are required to file equal employment opportunity reports with the government. But few make that information public. Reporters at Reveal from The Center for Investigative Reporting and PRX looked into how diversity stacks up in Silicon Valley. Marketplace Tech host Molly Wood talked with reporter Will Evans about why hard data on diversity in tech remains a bit of a mystery.

The federal tax overhaul goes into effect today, now the real fun begins for accountants. CPAs and tax lawyers around the nation have spent their holidays parsing the bill to figure out how it could help or hurt their clients. Also of today, 18 states and 20 cities have new higher minimum wage requirements. The wage hikes run across the country, from Maine to California. Then you have cities doing their own thing, setting a higher local minimum wage than the state overall. What does this patchwork of minimum wages mean for businesses? Also on today’s show: Predictions for the tech in 2018. What’s going to happen with net neutrality? What’s the next tech controversy? Are consumers starting to put their phones down? 

Ultra Violet is a purple of protests.

In 2017, tech companies experienced a series of bad headlines. Could that mean less tech enthusiasm in 2018?

The saving grace? Itinerary changes.

(Markets Edition) Goldman Sachs recently announced it would take a $5 billion tax hit from the GOP overhaul, a loss that mostly comes from its move to bring home money it had stashed overseas. But analysts expected this, and under the new tax law, the money is subject to a lower tax rate than before. Karen Petrou, co-founder of Federal Financial Analytics, joined us to discuss how companies might use the money they bring back to the U.S., and what indicators we should look for to figure out if these tax cuts are actually stimulating the economy. Afterwards, we’ll look at how climate change might affect the airline industry, and then discuss what the recent hurricanes mean for cruise line companies and tourism.     

Donations made in exchange for university sports season tickets will no longer be 80 percent tax deductible in 2018, which has some schools worried that donations could drop.

Most Americans think that CEO compensation is too high.

(U.S. Edition) New year, new laws. In California, an additional 2 million workers will have access to expanded family leave beginning today. We’ll look at how this new measure could benefit employees *and* businesses. Afterwards, we’ll dive into the GOP’s tax overhaul again: the bill gets rid of a deduction that you could take on donations made to secure college sports season tickets. Plus, we talk with Reva Goujon — vice president of global analysis for Stratfor Worldview — about key trends that are likely to influence world politics and markets. Keep an eye on North Korea’s nuclear capabilities, the Iran nuclear deal, Italy’s economy, and U.S. trade relationships.    

Here are some of the trends identified in the Stratfor Worldview's annual forecast.

(Global Edition) From the BBC World Service … Nearly everyone makes a New Year’s resolution, but how many actually keep theirs? If one of your goals is to be a better businessperson, we’ll tell you how to navigate jargon and cut meaningless phrases from your vocabulary. Afterwards, the world is changing fast and 2018 could finally bring driverless cars to a mainstream market or even more consolidation in the retail industry. We’ll tell you what industries and regions of the world could break new ground this year. 

This week we’re bringing you our favorite episodes of the year. Think about all the apps you use in a day: Amazon, Facebook, Gmail, maybe Lyft or Uber. In China, some of those apps are banned. But it’s possible to use one app — WeChat — to do lots of things, like sending messages and ordering taxis. Facebook Messenger is trying to take on the same role in the U.S. Jennifer Pak, Marketplace’s China correspondent, gives us the lowdown on WeChat and talks about why there’s no equivalent in the U.S. … yet.