Week of February 19th, 2018

What can we expect in this post-tax bill economy?

Ice technician Ryan Hevern on what it takes to create Olympic-caliber hockey and figure skating rinks.

Students with large loan balances aren't defaulting, but they're not reducing their debt either.

The government estimates an 11 percent drop in the economy next year.

Transit advocates say the city's system perpetuates inequality.

Victims of wage theft have few options, a Politico investigative reporter says.

The National Rifle Association is losing business ties in the wake of the school shooting in Parkland, Florida, last week. SimpliSafe, Met Life, Enterprise and a handful of other companies have said they’re done with the group. It’s a powerful brand, and companies tend to want to align themselves with a such a big group of passionate potential customers. But in the wake of a tragedy, the calculation looks a little different. That’s where we’re starting today. Then: A new investigation from Politico says before raising the minimum wage, we’d do well to make sure current wage laws are being enforced. Plus, as always, we’ll talk about the week in business news on the Weekly Wrap.

An investment adviser and certified personal accountant shares information as tax season looms.

(Markets Edition) The big financial story of this week: what the guardians of interest rates said about future interest rates. Christopher Low, chief economist at FTN Financial, stopped by to talk with us about how difficult it is to forecast inflation. Afterwards, we’ll discuss news that the Chinese government has seized control of Anbang, the firm that owns some famous U.S. properties. Plus: We talk about whether “Black Panther” will help create more opportunities in Hollywood for black actors.

The high pressure of driving the Zamboni ice resurfacer between Olympic events. Plus the health care costs of gun violence, how business interests are changing Puerto Rico’s future and why it’s so hard for people to pay off student loans. 

Amanda Ripley is the author of "The Unthinkable: Who Survives When Disaster Strikes — and Why?"

Labor advocates have described this case as the biggest threat to labor unions in years

(U.S. Edition) The Chinese government has seized the control of Anbang, a firm that owns some high-profile U.S. properties. We’ll look at Anbang’s origins and why China is cracking down on it. Afterwards, we’ll discuss a major Supreme Court case that could affect economic mobility. The case questions whether public-sector unions have a right to collect fees from government workers who refuse to join. Plus: A look at upgrades to the Real ID, and what could happen if states don’t comply with their requirements.  

(Global Edition) From the BBC World Service … The Royal Bank of Scotland turned its first profit in 10 years, but we’ll explain why looming fears about the bank’s actions in the run up to the financial crisis are hitting the bank’s share price today. Then, Donald Trump Jr. is in India today meeting buyers of his firm’s luxury real-estate business…the same day a new report says inequality in the country has risen sharply for the last three decades. Afterwards, royal waters have plenty to look forward to this year with two weddings and a baby on the way. Britain’s pottery makers are hard at work prepping for 2018’s big events. 

The decision could mean a lot less money for unions that represent state and local workers.

Some tech pioneers want to repair the problems they helped create, like addictive technologies.

The tech industry has a bit of a PR problem. From tech addiction to online bullying and foreign influence over elections, consumers are getting skeptical about tech’s impact on our lives. There’s even a push from within Silicon Valley to find solutions to these and other issues. Former employees of Google, Facebook and other tech firms have founded the Center for Humane Technology to address tech addiction, a problem they helped create. Marketplace Tech host Molly Wood spoke with author and education researcher Audrey Watters about her recent blog post asking whether technologists should be trusted to solve technology’s negative externalities.      

Seawater's changing chemistry is making it harder for oysters and other shellfish to grow.

Here we are, 10 years after the American financial system imploded, and something amazing has happened. President Donald Trump came into office saying he would “do a big number” on the “disaster” that was Dodd-Frank, but now his administration is keeping key parts of the legislation, like the rule letting the government liquidate a failing financial firm in a crisis. And you know what? Banks seem OK with that. We’ll explain. Then: We spent some time last year talking about how the president can affect stock prices with a tweet, but he’s not the only one. Snap shares dropped 6 percent today after Kylie Jenner said she hardly uses Snapchat anymore. What’s that say about the company’s business model? Plus, the economics of TV’s reboot frenzy.

A computer coding class seeks to train young people for jobs in Mexico.

(Markets Edition) The Fed has hinted that it wants to tap the economic brakes again. We’ll talk to economist Diane Swonk about why the Fed is so worried about the economy. Afterwards, we’ll look at a new report that shows more Americans are prioritizing savings. Over half say they now have more emergency savings than credit card debt. Plus: A debate in France over how to pay for saving crumbling cathedrals.

A proposal to charge tourists for entrance to historic churches has been met with resistance from the Conference of French Bishops.

(U.S. Edition) The Federal Reserve recently issued a statement that we’ve translated to mean: the U.S. economy has strengthened to the point that the Fed might want to move interest rates even higher than they thought. On today’s show, we’ll discuss why the markets are getting spooked by this possibility. Afterwards, we’ll look at how the Supplemental Nutritional Assistance Program (SNAP) is failing to provide households with enough nutritious meals, and then talk about how clothing brands putting in more effort to make clothing for people with disabilities.

Target, Tommy Hilfiger and Zappos are taking on adaptive fashion.

(Global Edition) From the BBC World Service… A court in Germany will rule whether a ban on polluting cars is a legitimate way of cleaning up air quality. Some are calling it the “kiss of death” for diesel – what could such a decision mean for other countries? Afterward, diesel aside, traffic is a global problem. We’ll take you to Dakar where residents spend three hours a day getting to and from the city center. Then, after launching its oil-backed virtual currency earlier this week, Venezuela is trying to boost the Petro’s uptake – now saying it will accept it in a range of transactions from aviation fuel to fees charged in embassies.

NASA's education program is also targeted. But does this budget matter?

The Trump administration wants more privatization in space — specifically, the International Space Station. The administration’s latest budget proposal would see the ISS funded and run by private industry instead of the U.S. government. Marketplace Tech host Molly Wood spoke with our Kimberly Adams to unpack the most important aspects of the president’s budget proposal.   

There's a new mayor in Erie, Penn., for the first time in 12 years.

Black women own about 1.5 million businesses in the U.S. At an Atlanta gathering, they set an agenda for making their voices heard.

Millennial Hannah Kirby believes bringing back manufacturing work is unrealistic, and that young people have to create those family-sustaining jobs that once existed.

Local residents discuss the national — and their personal — economies.

The unemployment rate is at 4.1 percent — the lowest level since 2000.

(Markets Edition) The group at the Federal Reserve that makes key decisions about interest rates is getting ready to release minutes from its latest meeting. We’ll talk with Susan Schmidt — senior vice president at Westwood Holdings Group — about some of the factors that may influence them. Next, we’ll look at how Texas funds its higher education system, and then discuss the harsh conditions that builders have to face in the winter.

With tight deadlines, construction often doesn't stop for the weather.

(U.S. Edition) A group of survivors from the Parkland, Florida mass shooting last week are lobbying for gun control laws, and they’re getting a lot of financial support. We’ll take a look at some of the steps they’ve taken to mobilize, along with some of the donors who are supporting the cause. Afterwards, we’ll examine the criteria Texas uses to fund its colleges and universities, and then we’ll talk to Marketplace regular Allan Sloan about why he thinks there was that big drop in markets earlier this month. 

(Global Edition) From the BBC World Service … The world’s biggest mining companies are seeing a boost to their bottom lines thanks to rising global commodity prices. We’ll tell you how the battery revolution is helping shape the overall market. Then, India is opening up its coal industry, allowing foreign companies to bid for coal mines in the country. But will more investment from some of the world’s biggest companies translate into better quality of life for residents there? Afterward, a conversation about whether growing use of artificial intelligence presents a looming danger. 

Want to see the Olympics in ultra high definition? You'll need to clear some technical hurdles, but the "sparkles are unreal," an Ars Technica reporter says.

Watching the Olympics on your phone is great and all, but if you’ve spent a pretty penny on an ultra-high-definition TV, an iPhone probably won’t cut it. How, then, does one watch the winter games in glorious 4K? Well, it’s complicated. NBC is delivering 4K video of some events the day after they air, but that video is difficult to access even with the right TV and set-top box. Sam Machkovech wrote about this problem for Ars Technica. He spoke with Marketplace Tech host Molly Wood about the Olympic 4K rigmarole.  

Turns out a lot of what the mayor of Chicago told us last year has even more resonance now.

We check in with small business owners about changes they've seen with Trump as president.

They argue that an executive order ending their temporary protected status could hurt the state’s economy.

(Markets Edition) Bond yields on the 10-year Treasury note are at their highest level in four years. On today’s show, we’ll look at whether their rise will continue. Afterwards, we’ll talk about Venezuela’s decision to pre-sell a cryptocurrency known as the “petro,” which is backed by the country’s oil reserves. Plus: We dive into the illegal black market for food carts in New York City. The number of legal street food permits issued by the city has barely increased since the ’80s. 

You've always wondered …

Albertsons is plunging deeper into the pharmacy business.

How much does it cost to run a food stand in New York City? Some vendors pay $25,000 for permits that should only cost $200.

(U.S. Edition) The grocery chain Albertsons is planning to buy part of Rite Aid in a $24 billion deal. On today’s show, we’ll look at the tough supermarket landscape that big chains have to face these days. Afterwards, we’ll discuss Walmart’s venture into new apparel brands so that it can compete with Amazon, and then find out what some people in China are planning to splurge on this Chinese New Year.

Here is a look at what people in China are buying to mark the Year of the Dog.

(Global Edition) From the BBC World Service … The World Bank says pensions will consume Brazil’s entire federal budget by 2030 …but the country today shelved a vote on reform. What does it mean for a nation recovering from financial crisis, and will October elections bring light at the end of the tunnel? Then, a new cryptocurrency launches today, this time backed by Venezuelan oil. We’ll explain who’s investing — and who’s not. Afterward, to Spain where a key business witness will give evidence today in ongoing Spanish corruption investigations.

In the tech world, we talk a lot about the applications for virtual reality, when you’re immersed in a totally different world.  But there may be more business applications for AUGMENTED  reality, where you add something to the scene around you.  Marketplace Tech host Molly Wood talks about it with Tim Merel, managing director of the tech consulting firm Digi-Capital.

While the movie breaks box office records, its soundtrack debuted at number-one on the Billboard charts.

Facebook is a powerful way to manipulate U.S. citizens. Can it change to protect its users from misinformation?

A couple of weeks ago on this show, we told you about some of the funding and resources available for mass shooting victims to help with their short-term recovery. Today, we consider what life and work is like five, or even ten years after surviving a high-profile shooting. Two survivors of a mass shooting describe long term recovery. Also on today’s show, we continue with our project called “Divided Decade,” as we hear stories of how people’s lives changed since the financial crisis ten years ago. And, of course, we talk “Black Panther.” The movie was obviously a big success this weekend, but did you know that the soundtrack is too? “Black Panther: The Album” debuted at No.1 on the billboard charts. We do the numbers on how that happened.

Even years after an event, the trauma lingers.

(Markets Edition) The U.S. Commerce Department has outlined a series of steep tariffs on steel and aluminum from some foreign countries, and China is not happy. We’ll look at why the Trump administration is pushing for these tariffs and how China might retaliate if they go into effect. Plus: With the markets’ wild swings a couple weeks ago, we look at the attitudes young investors have toward stocks. 

There's a lot of training that goes into becoming a working dog.

(U.S. Edition) There’s a section in the new tax law that aims to help chronically poor, underdeveloped areas in the U.S. The law creates an Opportunity Zones program, which gives incentives to draw businesses to these regions. But do they actually work? We’ll dive into that question on today’s show. Afterwards, we’ll look at the group that President Trump’s 2019 budget would most likely impact — if it were to go into effect. Plus: We discuss the economics of two presidential libraries: Ronald Reagan’s in California and Herbert Hoover’s in Iowa.

Oath is uniting AOL and Yahoo, but can it compete with today's online giants?

The CEO of Oath talks about the combination of AOL and Yahoo.

(Global Edition) From the BBC World Service … There are calls for the boss of Latvia’s central bank to step down after he was detained over the weekend by the nation’s anti-corruption agency while his home and offices were raided. We’ll explain what’s next for the country’s banking system. Then, new details as a $1.7 billion fraud at India’s Punjab National Bank continues to unravel after the story came to light late last week. Afterwards, how De Beers is using blockchain technology to help make diamonds conflict free.

Less than a year ago, Yahoo and AOL officially merged after AOL’s parent company, Verizon, bought Yahoo for more than $4 billion. Since then, former Yahoo CEO Marissa Mayer has moved on to an unannounced venture. AOL CEO Tim Armstrong has had the job of blending the two companies into a digital content behemoth named Oath, vying to challenge Facebook and Google for advertising revenue. Marketplace Tech host Molly Wood spoke with Armstrong about how Oath fits in the digital media landscape at the Makers conference in Los Angeles. The early February conference was sponsored in part by Oath.