Week of June 4th, 2018

This week could turn out to be a hinge-point in U.S. and global economies.

For decades, the global economy has trended toward more free trade, not less. Until now.

Looking for a job can be difficult for anyone, but for transgender people, it can be especially tough.

(Markets Edition) World leaders from countries like the U.S., Canada and the U.K. are set to meet this weekend as part of the annual G7 summit. On the heels of the event, we’ll look at some of the maneuvering that business and trade groups are doing behind the scenes. Afterwards, we’ll hear from Chris Low, chief economist at FTN Financial, about why economic trends in the U.S. — even positive ones — can have negative effects abroad. Then, we’ll discuss how limited housing is a barrier for older Puerto Ricans in the aftermath of Hurricane Maria. (06/08/2018)

(U.S. Edition) The Justice Department has told a federal court that it would no longer defend key provisions of the Affordable Care Act. We’ll explore what this could mean for Obamacare recipients. Afterwards, we’ll discuss why the U.S. decided to strike a deal with Chinese electronics giant ZTE, allowing it to do business in the country again, and then we’ll look at whether the Pope can influence big oil companies to address climate change. (06/08/2018) 

Older evacuees in FEMA's transitional shelter program have special concerns when seeking affordable housing on the mainland.

(Global Edition) From the BBC World Service … Just a week after imposing new tariffs, President Donald Trump is expected to get a frosty reception from his fellow G7 leaders in Quebec today when they gather for an annual meeting. So, what will the president’s allies want from him – and what are the implications if they don’t get it? Then, Argentina has double-digit inflation and a ballooning deficit. Now, it’s secured the biggest loan in the International Monetary Fund’s history – but at what cost? Afterwards, investors are being tempted back to Zimbabwe as the new government promises a more business-friendly approach. We take you to a lithium mine that has big plans in the country. (06/08/2018)

"The Trump factor has caused a lot of uncertainty" in IT, one writer says.

The $150 billion Indian tech industry was created in part by U.S. companies outsourcing information technology work and software development. Now a combination of automation, oversupply and U.S. immigration policies have led to layoffs and concerns about the future for India’s IT giants. One of those is Bangalore-based Infosys, which is credited with essentially creating the city’s middle class. Rollo Romig wrote about Infosys and the Indian IT economy for the The California Sunday Magazine. Marketplace Tech host Molly Wood spoke with him about the headwinds facing IT in India now.    

The musical about the founding father is still a top draw, but other shows have helped drive record attendance to Broadway theaters. With all the packed houses, show producers pulled in $1.7 billion.

But new efforts are seeking to remove barriers to riding like the need to have a smartphone or a credit card.

But Chinese officials have not appeased the United States by opening strategic sectors, such as health care and the internet.

Demand for health care workers for seniors is far outpacing the supply right now. Throw more immigration curbs on top of that, and the problem just gets worse.

(Markets Edition) President Trump is set to meet with allies from now through the weekend, and they’re all upset over U.S. tariffs. We’ll hear from Diane Swonk, chief economist at Grant Thornton, about why markets don’t seem that afraid of a trade war (at the moment). Next, we’ll recap a technical snafu that happened at the London Stock Exchange today, and then we’ll discuss how one company is memorializing sports moments through trendy T-shirts. (06/07/2018) 

But ZTE will be hit with a $1 billion penalty.

(U.S. Edition) With Japanese Prime Minister Shinzo Abe set to meet with President Trump today, we’ll discuss what their trade relationship looks like at the moment. The U.S. has levied tariffs on Japanese steel and aluminum, but now there’s a movement to do the same for automobiles. Afterwards, we’ll explore what to expect from a larger trade gathering this weekend between the U.S., Canada, France, Germany, Italy, the U.K. and Japan — also known as the G-7 summit. Plus: How Trump’s policies on immigration threaten the long-term care industry. (06/07/2018)

(Global Edition) From the BBC World Service … A “technical issue” on the London Stock Exchange delayed the start of trade by an hour this morning. No word on what caused the outage, but we’ll explore how common these problems are becoming and what it means for safety of financial markets. Then, it’s a crucial day in Turkey: The country’s central bank will decide whether to raise rates to help offset red-hot inflation and a rapidly-depreciating currency. But presidential elections at the end of this month are putting policymakers in a tricky situation. Afterwards, in America the housing market is seeing strong demand push prices higher amid dwindling supply. But in London, after years of strong growth, property prices are falling at the fastest rate since the financial crisis. (06/07/2018)

“What gets measured is what gets done,” the longtime philanthropist says about investing in women.

Melinda Gates is most well known as the co-chair of the Bill and Melinda Gates Foundation. But the longtime philanthropist is also the founder of a for-profit organization called Pivotal Ventures. Through her for-profit enterprise, Gates is trying to increase the number of women and minorities in tech by funding venture capitalists who invest in more diverse entrepreneurs. Such funders are known as limited partners (LPs), but the name is misleading because LPs hold the purse strings and can set a VC’s agenda if they want to. Marketplace Tech host Molly Wood spoke with Melinda Gates about how being at the top of the VC food chain can have an impact on the whole system. (06/07/2018)

The 20 percent tariff on U.S. apple exports will have huge effects on Washington's apple industry.

Transit in Atlanta has struggled with a bad reputation. State lawmakers hope a new brand will change that.

He came to the Motion Picture Association of America last year by way of the State Department.

Motion Picture Association of America CEO Charlie Rivkin talks about the business of making movies and more.

The hogs will eat just about anything, and landowners in Texas are at their wits' end. The USDA is developing a poison. "We’re out of options,” an agency researcher says.

(Markets Edition) With news that Social Security and Medicare will have to dip into their reserves, we’ll talk to an academic who says we’re in even worse shape than news reports are stating. Afterwards, we’ll look at a new survey that shows CEOs aren’t feeling as optimistic about the economy as they did earlier this year, and then we’ll explore why the potential of retaliatory tariffs on U.S. goods aren’t playing out more in the markets. (06/06/2018)

An economics professor from Boston University says that a new report on Social Security and Medicare is hiding the truth.

(U.S. Edition) Our Social Security program will have to dip into its reserves to meet payouts — the first time since the early ’80s — and the primary trust fund for Medicare is expected to be depleted three years earlier than projected. On today’s show, we’ll look at some of the factors driving this trend, including last year’s tax cuts and changing demographics. Afterwards, we’ll look at news that the former CEO of Cambridge Analytica, Alexander Nix,  allegedly withdrew $8 million from the company amid the Facebook data scandal, and then we’ll talk about a plan from the U.S. Department of Housing and Urban Development that could raise rents for millions who get federal housing assistance. (06/06/2018)

(Global Edition) From the BBC World Service … Italy’s new prime minister faces a second vote of confidence in the lower house today. In his first policy speech, he confirmed several goals, including adopting a tough stance on migrants and a rejection of austerity measures. But is it what investors were hoping to hear after last week’s market turmoil? Then, Qatar Airways’ boss this morning has apologized for saying his company was led by a man because it is a “very challenging position.” We chat about why businesses shouldn’t approach gender equality as women needing to break through a glass ceiling … but rather build up from a concrete floor. (06/06/2018)

House of Highlights has 9.3 million followers and counting.

Steph Curry’s buzzer-beating three-pointer from Game 2 of the NBA Finals has been relived millions of times on Instagram. But not on the Golden State Warriors official account. Or ESPN’s. Or TNT’s for that matter. Instead, the clip blew up on the account called House of Highlights, which has some 9.3 million followers. House of Highlights is doing something that social media managers at major sports networks may be kicking themselves for not doing first. It’s posting highlights from sports, both professional and amateur, all day, every day. Omar Raja started House of Highlights as a way to keep up with his favorite basketball star, LeBron James. He talked about it with Marketplace Tech host Molly Wood. (06/06/2018)

"We should all be working together" says Paul McGrath of JEM Strapping Systems.

A decade ago, the government told the real estate industry to start sharing its data. What has that meant for competition?

It's the Make Me Smart blockchain challenge!

It’s so much more than bitcoin.

Academics at U.S. schools are being recruited to help build the Chinese economy.

(Markets Edition) The latest numbers on job openings, also known as the JOLTS report, is set to come out soon. We’ll hear from one global strategist about how the report can reveal the upsides and downsides of at tight labor market. Afterwards, we’ll look at what lawmakers have included in the federal budget to combat wildfires, and then explore how some Texas colleges are launching food scholarships to fight hunger on campus (06/05/2018)

Amid Kodak's decision to bring back the Ektachrome, we asked you what products are still hanging around your house.

(U.S. Edition) The GOP tax law requires companies to pay a “repatriation tax” of about 15 percent on overseas profits, and is aimed at big multinationals like Apple and Google. But on today’s show, we’ll look at one  group that’s unexpectedly getting impacted by this measure: small businesses. Afterwards, we’ll look at what the rise in crude oil prices means for the airline industry, and then we’ll talk about how one Ohio area is renovating a home as an example to encourage young people to renovate their own. According to one economist, rising home prices may mean that the only way in for aspiring homeowners is buying a home that nobody wants and turning it into the home of their dreams. (06/05/2018)  

(Global Edition) From the BBC World Service … For the first time in two years, the British government has sold off another chunk of its stake in the Royal Bank of Scotland. But unwinding its financial-crisis era measures comes at a hefty cost for taxpayers. Then, anti-austerity protests are expected to continue for a sixth night in Jordan as people there rally against a new International Monetary Fund-backed tax bill. Afterwards, starting this month, Google has banned cryptocurrency ads from its platform. While the move is intended to protect average investors, some argue a blanket ban might not be the right approach to wrangling the wild west of the crypto. (6/5/2018)

"It was a soft sell rather than a hard sell," Axios reporter says.

Apple CEO Tim Cook hasn’t been shy in recent weeks about taking shots at Facebook over user privacy. So it was reasonable to think that privacy and social responsibility might be selling points at its Worldwide Developer’s Conference (WWDC) in San Jose this week. But the issue was barely mentioned by Cook or anyone else for that matter. Ina Fried, the chief technology correspondent at Axios, spoke with Marketplace Tech host Molly Wood about whether Apple missed an opportunity. (06/05/2018)

An American tire cord producer is frustrated by President Trump's 25 percent levy and an objection to his exemption application.

Beijing has ambitious plans to end its dependence on U.S. semiconductors and other technologies.

CNN is trailing its rivals Fox News and MSNBC in the cable news ratings race over coveted prime-time evening hours. But CNN is hoping to turn the tide with a new show.

(Markets Edition) Trade talks between the U.S. and China have ended without any agreements. On today’s show, we’ll take a brief look at some of the sticking points in their negotiations and some of the threats that they’ve lobbed at one another. Afterwards, we’ll discuss Apple’s plan to launch a series of tools that might help people spend less time on their phones, and then we’ll discuss a new study that finds the GOP tax law actually led some companies to contribute more to defined-benefit pension plans. (06/04/2018)

A decrease in the corporate tax rate gave companies more of an incentive to funnel money into defined-benefit pension plans.

(U.S. Edition) New research from the New England Journal of Medicine finds that many breast cancer patients may not need chemotherapy at all. On today’s show, we’ll explore the publication’s findings, and what avoiding chemotherapy can mean for a patient’s health and their finances. Afterwards, we’ll discuss the high costs associated with new cancer drugs and who ends up footing the bill, and then we’ll look at how one Catholic organization has come up with an innovative way to make private school more affordable. (06/04/2018)    

(Global Edition) From the BBC World Service … Trade talks between the U.S. and China ended without a deal on Sunday, so are the two nations closer to a trade war? Then, a look at why farmers in India are throwing their produce, milk and cheese into the street to push the government for more assistance. Afterwards, it’s Monday, which means many of us feel like it takes a boatload of caffeine to get us going after the weekend. While not everyone in the world relies on coffee for that morning buzz, we’ll take you to China where global chains are exploring more expansion opportunities. (06/04/2018)

Are there some things that just shouldn't be made easier?

Sometimes it seems like there’s nothing that tech companies won’t try to disrupt. The new novel “Mother of Invention” by Caeli Wolfson Widger takes that idea all the way to the womb. The book tells the story of a biotech startup that shortens pregnancy to just nine weeks … and questions whether that’s actually a good idea. Wolfson Widger talks with Marketplace Tech host Molly Wood about how observations from her tech recruiting firm inspired the book. (06/04/2018)