Week of April 9th, 2018

Also: some more of that — now familiar — trade talk.

Accountants are already fielding questions about the new tax law, even as they wrap up the 2017 season.

No, yelling "safe" at the TV doesn't count.

Work could be "really and truly killing us," according to Stanford professor Jeffrey Pfeffer.

What you need to know before you decide to invest.

Russians really love YouTube.

Keith Alverson says farmers like him are after the 95 precent of consumers outside the U.S.

The president seems to think so, but not all experts agree.

What happens when welfare is tied to work? Plus, a primer on Russian internet usage, the questions your accountant gets the most (and answers, too) and a look at the ins and outs of being a major league umpire. 

New York Times correspondent Rukmini Callimachi dug into 15,000 ISIS documents that provide a look at the group's administrative structure.

(Markets Edition) Every five years or so, the Farm Bill — which sets the country’s food and agriculture policy — goes up for renewal. Much of its funding is related to Supplemental Nutrition Assistance Program benefits, also known as food stamps. House Republicans want to add work requirements for SNAP recipients, which would include working or enrolling in job training at least 20 hours a week. We’ll talk to the vice chairman of the House Agriculture Committee — Glenn Thompson (R-PA) — about why they’re pushing for these requirements. Afterwards, we’ll chat with Chris Low — chief economist at FTN Financial — about the disconnect between consumer confidence and consumer spending. While confidence is at record highs, spending not so much…    

(U.S. Edition) One of President Trump’s first acts in office was pulling out of the Trans-Pacific Partnership. Now he may just re-enter the deal. While talks are still in their early stages, we’ll discuss who the potential winners and losers would be if the U.S. were to rejoin the agreement. Afterwards, we’ll look at another major free trade announcement: 44 African countries have signed up for the African Continental Free Area, which would create one of the largest free-trade zones in the world. Plus: We talk about the huge reorganization plans happening at VW. The company has named a new CEO — Herbert Diess — to succeed Matthias Müller. 

Dozens of African nations signed on to a new trade deal. Some key nations still have not.

(Global Edition) From the BBC World Service … A C-suite shakeup overnight at VW: Who’s in, who’s out, and what’s next for the automaker as it turns another page on its 2015 diesel-emissions scandal.  Then, what will President Trump’s absence from the Summit for the Americas in Peru mean for the U.S. relationship with Latin American leaders?  Afterward, if your Friday-night plans involve a stop off at the local bar, you might be surprised to find more and more patrons sipping on non-alcoholic beer and cocktail lookalikes. One of our reporters explores the growing trend of the non-boozy buzz. 

As the data economy grew, politicians took notice — and took your information.

This week Marketplace Tech has been focused on the data economy, and how the practice of trading our personal information for services evolved. The revelation that Facebook data was harvested by a political data analytics firm kicked off this conversation, but it’s important to note that politics has been involved with social media for a long time. And politicians have been experts at gathering data about us for even longer. Marketplace host Molly Wood spoke with Sunshine Hillygus, professor of political science and public policy at Duke University, about the entangled history of the web and politics. 

‘Cause we do. There’s so much to unpack, we paid the baggage fee for an extra episode this week.

An analysis of taxi data suggests the possibility of increased communications around Federal Open Market Committee meetings.

The XPRIZE started with 38 teams and is now down to a final 10.

All the questions that Zuckerberg and his teams have yet to answer.

CEO Lisa Ingram says the idea for the plant-based slider came from listening to customers.

Companies take a deep dive into the stacks of a sci-fi library to find out how we might react to new tech.

(Markets Edition) While President Trump tweeted yesterday that missiles “will be coming” to Syria, he’s now saying an attack  could happen “very soon or not so soon at all!” That had investors breathing a small sigh of relief. We’ll talk to Susan Schmidt, senior vice president at Westwood Holdings Group, about why she thinks the markets are facing a “confused moment.” Afterwards, we’ll look at how Delta’s business is doing ahead of the release of its first-quarter earnings report. Then to cap off today’s show, we’ll discuss the controversy surrounding the U.K.’s new passport colors. It’s moving away from the burgundy-colored European Union passport, and reverting to traditional blue and gold. But the contract to produce the new passport might be taken away from a British company and given to a firm in continental Europe.

The government's favoring of a Franco-Dutch bid to make the documents raises ire.

(U.S. Edition) The World Trade Organization is out with new data showing global commerce is off to a strong start. But there’s a stark warning that governments should refrain from a retaliatory trade measure. Who could they possibly be talking about? Afterwards, we’ll chat with Margrethe Vestager, Europe’s top antitrust official who’s gone after the world’s biggest tech companies. Following Mark Zuckerberg’s testimony on Capitol Hill, she joined us to talk about why privacy is such an important issue to her and why she thinks regulation isn’t a disadvantage for smaller companies. Plus: Why 2018 is shaping up to be a good year for the big banks.

(Global Edition) From the BBC World Service … IMF Managing Director Christine Lagarde warned that while China’s Belt and Road Initiative might be a critical infrastructure investment, the nation should be wary of “problematic increases in debt.” So, how do you strike the right balance between stimulating economic growth without creating huge payment challenges? Then, today New Zealand banned all future offshore oil and gas exploration in the name of tackling climate change. Industry players, though, say they were blindsided by the move. We’ll explore what impact the decision will have on future production. Afterward, we take you to Parma, Italy, ahead of this year’s world pizza championships. 

Margrethe Vestager, the European Commissioner for Competition, says Facebook doesn't need to know the name of your dog or your mother's maiden name.

The U.S. has few policies around privacy and data. That's great, until it's bad.

Congress may have grilled Facebook CEO Mark Zuckerberg this week, but generally, lawmakers have given social media and tech a regulatory pass. Now there’s at least talk about the possibility of laws that would govern our private data. So, all this week on Marketplace Tech, we’re focusing on the data economy. Today a look at the laws (or lack thereof) that have been put in place around data and technology. Marketplace Tech host Molly Wood talks with Nuala O’Connor, who leads the nonprofit Center for Democracy & Technology. 

We got the most recent Federal Reserve meeting minutes. The key takeaways: Trump tax cuts and increased federal spending will give the economy a short-term boost, but all the deficit spending and retaliatory tariffs carry long-term risks. Speaker of the House Paul Ryan won’t have to worry about any of this soon. He announced today he’ll leave Congress in January. We’ll talk about the ripple effects of that departure. Then: Mark Zuckerberg’s second day of testimony saw the Facebook CEO answering more questions about his company’s business model: A lot of it comes down to the Like button, that little thumbs up that may well be the most powerful tool in social media. We’ll explain. Plus: More from our “How We Changed” series.

A huge reason for its success is because people, well, they like to be liked.

It's a plant-based substance that mimics ground beef — it even bleeds — and now it's going on the White Castle menu.

The state income tax isn't deductible, so New York is turning it into something that is.

One private probation company presses the question in Eastern Arkansas.

(Markets Edition) After a suspected chemical attack in Syria, Trump said missiles “will be coming”  toward the country and that Russia should get ready. We’ll look at the market reaction to all this with Julia Coronado, founder of MacroPolicy Perspectives. Afterwards, we’ll discuss some of the pitfalls of getting a gas station credit card, and then talk about one of the upsides of Facebook in the midst of the Cambridge Analytica controversy. Despite the privacy issues many users have raised, some groups rely heavily on them to organize, including Native Americans. 

(U.S. Edition) Facebook CEO Mark Zuckerberg began testifying in front of Congress yesterday following revelations that Cambridge Analytica harvested data to target users during the 2016 election. On today’s show, we’ll recap some of the highlights. One of the main takeaways is that Facebook’s business model probably won’t change, but it could see more regulation. Afterwards, we’ll preview another testimony happening on Capitol Hill: Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, gives his first report to Congress. Plus: On the 50th anniversary of the Civil Rights Act of 1968, we’ll discuss how source of income can be a barrier for people trying to obtain housing. 

In most places, it's legal to deny a tenant based on source of income.

The web is what it is because of advertising, and advertising runs on one thing: data.

Facebook won’t stop selling ads anytime soon. But the ad business has changed in the last few decades, and data is at the heart of its new strategy. All this week on Marketplace Tech, we’re focusing on the data economy and how we got here. Host Molly Wood speaks with Safiya Noble, a professor at the University of Southern California’s Annenberg School for Communication, about the evolution of advertising technology and how much it now relies on personal information, such as what Disney princess each of us is. 

(Global Edition) From the BBC World Service… Facebook’s boss is facing day two on Capitol Hill, but there are still many unanswered questions about handling data protection. We hear from one of the company’s co-founders, Chris Hughes, about what the social network needs to consider. Then, Marriott International says it’s opening a hotel every 13 or 14 hours, but with growing competition from online booking sites like Airbnb, where is the hotel chain looking for growth and diversification opportunities? 

The Congressional Budget Office says deficits will nearly equal GDP by 2028. That can't be good, right?

What color is your algorithm light saber?

If you were listening to Mark Zuckerberg’s testimony in front of the Senate, you missed the sort of bewildered smile on the Facebook CEO’s face as he explained to Sen. Orrin Hatch how his company makes money. Zuckerberg was still answering questions as we taped the show this afternoon, but we brought in Marketplace Tech host Molly Wood to talk about the story so far. Then, we’ll look at another striking moment from this afternoon, when Zuckerberg said Facebook isn’t a monopoly as it stares down regulation, here and abroad. Then: Toys R Us filed Chapter 11 bankruptcy last year, with more than $5 billion in debt on its books. But soon afterward, it asked the bankruptcy court for permission to pay big executive bonuses. That sounds remarkable, but it’s actually pretty common. We’ll look at why. Plus: One in three American families has trouble affording diapers. We’ll look at why.

Payments, once justified as a way to retain leaders during the crisis, are now tied to performance metrics.

Personal bankruptcy is a middle-class problem, says Sen. Elizabeth Warren.

(Markets Edition) With Facebook CEO Mark Zuckerberg set to testify before Congress in the wake of the Cambridge Analytica scandal, we’ll look at some of the steps Facebook has taken to increase transparency. Afterwards, we’ll talk to Penny Pritzker with the Council on Foreign Relations, also secretary of commerce from 2013 to 2017, about whether the U.S. has failed people whose jobs have been replaced by automation.

(U.S. Edition) China has filed a World Trade Organization challenge over the Trump administration’s steel and aluminium tariffs, essentially taking the U.S. to trade court. On the heels of this news, we’ll discuss how the idea of “economic security” has become “national security” for Trump. Afterwards, we’ll look at how small businesses are faring at finding new workers, and then we’ll talk about how expectations in the workplace may play a role in the gender pay gap. 

Many trading partners see that core administration belief as a thinly veiled cover for protectionism.

After seven rounds of brokering a revamped deal, there are still major sticking points to discuss between the U.S., Canada and Mexico.

Exploring how privacy, policy, advertising and politics led to a data crisis.

We've ignored the steady erosion of our online privacy, but maybe no longer.

(Global Edition) From the BBC World Service … Just hours after Chinese President Xi Jinping vowed to open his country’s auto and banking industries and reduce car-import tariffs, China took the first step in making a WTO complaint about U.S. steel and aluminium tariffs. Then, Russia’s currency is taking another plunge today after a sharp drop Monday. We’ll explain what’s spooked markets and what it means for the average citizen there. Afterward, a look at why Uber isn’t being welcomed with such open arms in Barcelona. 

Mark Zuckerberg will testify in front of Congress today. He’s expected to address the way Facebook protects information about its users. But the current Facebook scandal is really a story about data, and a data economy that’s out of control. Over the course of this week, Marketplace Tech will look at different aspects of the data economy to understand how we got here. Today’s focus: privacy. Marketplace Tech host Molly Wood spoke with Mark Surman, executive director of the Mozilla Foundation, about how sharing personal information in exchange for free services came to be.

Women work in professions that are more resistant to the business cycle and therefore more stable, one expert says.

More hospitals across the country are selling debt from unpaid medical bills to collection agencies.

In 2008, Ann Shen couldn't get a job she wanted. So she went to art school and started a different and successful career.

It’s been a while since we’ve started this program by dissecting a presidential tweet. But with a whiff of trade war in the air, there’s some good economic context to be had from that exercise today. At 6:03 in the morning, the president said, “When a car is sent to the United States from China, there is a Tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a Tariff to be paid of 25%. Does that sound like free or fair trade. No, it sounds like STUPID TRADE – going on for years!” Believe it or not, the most important part of that whole thing was the last two sentences. We’ll explain. Then: It’s often said that if you aren’t paying for a product, you are the product. The past few weeks at Facebook have been a stark reminder of that. So, with CEO Mark Zuckerberg set to testify before Congress tomorrow, we’ll explore this model, other companies that use it and whether Facebook has any alternatives. Plus: Kai ended the trade war! He lost.

The president says they're easy, but FiveThirtyEight's simulator gave me a different experience.

The Congressional Budget Office says the tax and spending bills will increase the budget deficit by billions.

(Markets Edition) The Trump administration is proposing to cut nearly $130 billion over a decade to SNAP, the country’s federal food stamp program. We’ll look at what this could mean for brick-and-mortar stores that sell groceries. Afterwards, we’ll explain why gas prices are higher during the summer, and then talk with Sheila Bair — former chair of the Federal Deposit Insurance Corp. — about an alternative to student debt that would have you paying a percentage of your income.

For those who graduated in 2004, student loan default rates will approach 40 percent.

(U.S. Edition) The U.S. has imposed new sanctions on Russian oligarchs and government officials, which has sent their country’s markets tumbling. We’ll take a brief look at some of the restrictions they’re facing. Afterwards, we’ll talk to Princeton sociologist and MacArthur genius grant winner Matthew Desmond about a new set of data he’s just released, showing evictions around the country are comparable to foreclosures at the height of the financial crisis. Plus: With Tax Day coming up, we’ll discuss some of the free-filing programs available for people with low incomes. 

A new national data set sheds light on the number of evictions in America.

(Global Edition) From the BBC World Service … A C-suite shakeup at Deutsche Bank is sending shares sharply higher this morning. We’ll tell you what a new chief executive means for the future of Germany’s biggest bank. Then, shipping and aviation weren’t part of the Paris climate agreement, but the world’s maritime leaders are meeting in London this week to try and hammer out new emissions rules. We talk to the world’s largest international shipping association about what they hope to see by the end of the week.  Afterward, a look at how Brazil is trying to rebuild trust with investors essential for the country’s economy. 

What do you think of when you hear the term “wearable technology?” Smart watches, fitness trackers and Bluetooth headsets? All good examples, but the term is expanding. Now it could mean a denim jacket from Levi’s and Google that allows wearers to pair the clothing with a smartphone. That may sound harmless, but wearable tech can also be a risk to your security and privacy. Marketplace’s Jon Gordon spoke with Amanda Parkes, a fashion technologist with the Future Tech Lab, about some of the new technology that might be making its way into your closet and why you may want to handle it with care.

The tech wearables wardrobe is expanding. Are privacy measures keeping up?