Week of July 9th, 2018

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Pfizer hopes to run with its “little blue pill” as long as it can. That includes the time-honored strategy of launching its own generic.

President Donald Trump has stirred up a hornet's nest in the U.K. with his blunt comments about Brexit.

(Markets Edition) China reported last month that it had a record trade surplus with the U. S. — another way of saying it had a record trade deficit with the country. But there were some other surprises buried deeper in the data, which we’ll dive into on today’s show. Afterwards, we’ll discuss how Amazon’s competitors have started hopping on the “Prime Day” bandwagon. Today’s podcast is sponsored by Abby Connect (abbyconnect.com/morning), Carbonite (Carbonite.com), and Indeed (Indeed.com/marketplace). (07/13/2018) 

Every four years, the Men's FIFA World Cup final is widely recognized as the most-watched event in the world.

Based on the price of a Big Mac in America, the U.S. dollar looks overvalued relative to almost every currency.

(U.S. Edition) President Trump visited the U.K. this week, leaving some very mixed messages. We’ll discuss how the trip went, along with the British prime minister’s push to snag a bilateral trade deal with the country. Afterwards, as part of Fed Chair Jerome Powell’s first broadcast interview, we’ll preview parts of his conversation with Marketplace’s Kai Ryssdal, and then we’ll talk to The Economist about its “Big Mac Index,” which measures the difference between the price of a Big Mac in different countries to help us understand their currencies. Today’s podcast is sponsored by Abby Connect (abbyconnect.com/morning), Carbonite (Carbonite.com), and Indeed (Indeed.com/marketplace). (07/13/2018) 

(Global Edition) From the BBC World Service … Protesters have lined the streets in central London this morning to speak against President Trump’s visit to the capital. Prime Minister Theresa May was counting on support from her U.S. counterpart with Brexit negotiations reaching a crescendo, but overnight comments from the president might have squashed her hopes. Then, new figures released today show China’s trade surplus with the U.S. hit a record high last month. How much of that has to do with escalating trade tensions between the two nations? We put that question to one of our economic analysts. Today’s podcast is sponsored by Abby Connect (abbyconnect.com/morning), Carbonite (Carbonite.com), and Indeed (Indeed.com/marketplace). (07/13/2018) 

This week, Twitter announced that it’s removing locked accounts from its platform. That’s in an effort to clean up its bot problem. Bots are fake Twitter accounts that spread propaganda and intimidate people. A New York Times story in January suggested that up to 15 percent of Twitter’s user base could be bots. Twitter says it was more like 5 percent. But now, as the company is trying to clean up the bot problem, some investors are worried that Twitter may have fewer human users than they thought. Kevin Roose follows social media for the New York Times. He spoke with Marketplace Tech host Molly Wood about how bots became a business problem for Twitter. 

The proportion of fake users, or bots, on Twitter may be higher than previously thought.

A brief look at how six Fed chairs shifted the culture of the central bank.

Costa Rica recently created a program to offer hormone replacement therapy for transgender people for free through its national universal health care system. Since the program started in fall of 2017 about 30 people have signed up. The government is expecting around 600 people to sign up. Officials are confident the hormone replacement therapy will […]

Vanilla bean prices have been running between the equivalent of $1,000 and $1,200 per pound, nearly five times what it was a few years ago. And that’s rippling through the ice cream industry. One key reason for the increased cost is last year’s cyclone in leading vanilla producer Madagascar, which created a huge crop shortage. Larger […]

(Markets Edition) Over the next few days, the country’s biggest banks are gearing up to report their earnings for the most recent quarter — and expectations are high. We’ll look at why analysts are anticipating strong earnings. Afterwards, we’ll discuss how investors are starting to ask for higher returns in the short term from the government — a potential sign of a recession. Then finally, we’ll talk about the rising price of vanilla, which is forcing some players in the ice cream world to make adjustments. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Battelle (Battelle.org/QI), and Indeed (Indeed.com/marketplace). (07/12/2018) 

In a 30 minute conversation, Chairman Powell discusses tariffs, political pressure on the Fed and wage stagnation.

(U.S. Edition) With the China and the U.S. constantly going back and forth about trade, we’ll take a look at how U.S. businesses in China are feeling about escalating tensions. Afterwards, we’ll discuss what the United States’ increase in oil production means for U.S. consumers, and then we’ll explore how Costa Rica has created a program to offer hormone replacement therapy for transgender people. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Battelle (Battelle.org/QI), and Indeed (Indeed.com/marketplace). (07/12/2018) 

(Global Edition) From the BBC World Service … After a stormy week of resignations, the British government is about to publish its latest proposals for exiting the European Union. Will this blueprint deliver the promised “comprehensive vision” to businesses craving a clear direction? We hear from the new Brexit secretary, Dominic Raab, and Adam Marshall, director general of the British Chambers of Commerce. Also in this edition: as President Trump begins his first official visit to the U.K., the BBC’s Anu Anand finds out whether he can expect to receive a warm welcome. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Battelle (Battelle.org/QI), and Indeed (Indeed.com/marketplace). (07/12/2018) 

The popular mobile phone game is making a comeback.

“Pokemon Go” was one of 2016’s most popular mobile games, but it seemed to lose players just as quickly as it gained them. That may have been due to some technical glitches, but “Pokemon Go” appears to be back. That’s at least in part thanks to some new social features. Those are what got Marketplace Tech host Molly Wood back in the game, and got her thinking about who else is playing “Pokemon Go.”

(Markets Edition) Pfizer has reversed its big price increase following pressure from Trump and his administration. We’ll discuss some of the reasons why they may have taken heed of the government’s words, and why there could still be a catch. Afterwards, we’ll explore how the trade war affects banks, and then we’ll talk about a potential bilateral trade deal between the U.S. and the U.K. Today’s podcast is sponsored by Avast (avast.com), Michigan Economic Development Corporation (planetm.michiganbusiness.org), and USPS (USPS.com/future). (07/11/2018)

The economic impact of the conflict is already spreading.

(U.S. Edition) The trade war between the U.S. and China is escalating. The Trump administration has published an additional list of $200 billion worth of Chinese goods that it wants to hit with tariffs. We’ll discuss China’s response to this list, and the change in the types of products that we’re hitting with penalties. Afterwards, we’ll look at how some U.S.-China deals are staying on track, despite all this trade turmoil. Tesla is building its first factory outside of the U.S. in Shanghai. Plus, as part of series “Divided Decade,” we’ll hear from Orange County resident Laryn Lee about the troubles her family faced during the financial crisis. Today’s podcast is sponsored by Avast (avast.com), Michigan Economic Development Corporation (planetm.michiganbusiness.org), and USPS (USPS.com/future). (07/11/2018)

"I think it's up to our generation to fix the mistakes that we've made," Arun Muralidhar, founder of MCube Investment Technologies and co-author of "Rethinking Pension Reform," told us.

(Global Edition) From the BBC World Service … A fresh list of potential Chinese tariff targets from the U.S. this morning is sending global markets solidly lower. China says it’s “shocked” by the measures. So what’s included and when could they go into effect? Then, President Trump is at the NATO meeting in Brussels today. While he’s criticized Germany for not contributing enough to the alliance’s defense budget, the meeting has big implications for trade, too. Afterward, it’s a big night for England as its team makes a semi-final appearance in the World Cup. With fans packing into pubs and spending extra cash on jerseys, booze and meals out, there’s bound to be an economic benefit for the local economy, right? We’ll chat with an economist about what boost the British economy is likely to see. Today’s podcast is sponsored by Avast (avast.com), Michigan Economic Development Corporation (planetm.michiganbusiness.org), and USPS (USPS.com/future). (07/11/2018)

China is a huge market for electric cars. Tesla is looking for a place to build and sell lots of electric cars. But the U.S. is in a trade war with China and right now there’s about a 40 percent tax on American-made cars being sold in China. That hurts all automakers, but if you’re trying to become the dominant electric car maker in the world you need to sell cars in China. Dan Sperling is the founding director of the Institute of Transportation Studies at the University of California, Davis. He spoke with Marketplace Tech host Molly Wood about how the Chinese government is changing the market for electric cars. (07/11/2018)

This week, Tesla announced its plans to build a plant in Shanghai amid trade tensions between the U.S. and China

A look at design thinking, and how it might help solve some of the big problems we talk about around here.

According to a poll, 60 percent of California voters favor limits on how much landlords can charge.

Unlike other mushrooms, morels are incredibly difficult to grow. That’s part of the reason why they’re so expensive.

(Markets Edition) With news that Trump has nominated Brett Kavanaugh as the next Supreme Court Justice, we’ll take at look at the high court’s track record when it comes to  pro-business issues. Afterwards, we’ll chat with market strategist Karyn Cavanaugh about how all this trade war talk has yet to be reflected in company earnings, and then we’ll discuss how Norway is undergoing an oil supply squeeze due to a worker’s strike. Today’s podcast is sponsored by Anchor, LLC (anchorbooks.co/marketplace), Avast (avast.com), and Carbonite (Carbonite.com). (07/10/2018)

President Donald Trump has nominated Brett Kavanaugh, a federal appeals court judge.

(U.S. Edition) Trump has selected his nominee for the Supreme Court: Brett Kavanaugh, a federal appeals court judge and a former aide to President George W. Bush. We’ll look at his record on business cases and how this might play out in the U.S. economy. Afterwards, we’ll examine the state of small businesses, and then we’ll talk to Clevelanders about how they feel about LeBron James’ departure from their hometown. Today’s podcast is sponsored by Anchor, LLC (anchorbooks.co/marketplace), Avast (avast.com), and Carbonite (Carbonite.com). (07/10/2018)

LeBron James has announced he’s leaving his hometown Cleveland Cavaliers for the second time, heading west to join the 16-time national champion Los Angeles Lakers. After his first departure in 2010 for Miami, Cleveland restaurant owners noticed a slump in business as fewer people came out for games at the Quicken Loans Arena, but business […]

The National Federation of Independent Business reports small-business optimism remains near a record high.

(Global Edition) From the BBC World Service … Guyana – a country on  South America’s North Atlantic coast – is bracing for the blessings and curses of a coming oil boom, while Norway braces for an oil strike. Then, in the latest move to consolidate his power, Turkey’s president appointed his son-in-law to oversee the country’s economic ministry, knocking out his former deputy prime minister who was largely seen as keeping a place within the cabinet. What does the move mean for high inflation and worries that its central bank can no longer can act independently? Today’s podcast is sponsored by Anchor, LLC (anchorbooks.co/marketplace), Avast (avast.com), and Carbonite (Carbonite.com). (07/10/2018)

Uber's recent investment in Lime scooters is part of a deal that values the company at $1.1 billion.

On Monday, Uber announced a partnership with the electric scooter rental company Lime. Uber already owns Jump Bikes, an electric bike startup. Lyft just bought a bike rental company as well. All these moves are about creating one-stop shopping for all kinds of transportation and also about solving a pretty basic problem. The average cab ride is less than three miles and using a car to make that trip is expensive and inefficient, especially in traffic. Hence this new investment trend in what’s being called micro-mobility. Ralph Buehler is a professor of urban affairs and planning at Virginia Tech. He spoke with Marketplace Tech host Molly Wood about what he refers to as multimodality.

Our listener asks which economic statistics are the best predictors of future economic performance.

(Markets Edition) This is an action-packed week for Trump, with the president heading to a NATO summit and a meeting with Putin. We’ll hear from Julia Coronado, founder of MacroPolicy Perspectives, about how this could affect the markets, and any data points that we should be looking out for this month. Afterwards, we’ll discuss why the federal government won’t send $10 billion to insurance companies that underpin Obamacare, and then we’ll look at how a record number of scientists are deciding to run for office. Today’s podcast is sponsored by Carbonite (Carbonite.com), Michigan Economic Development Corporation (planetm.michiganbusiness.org), and USPS (USPS.com/future). (07/09/2018)

A lawyer representing the infamous cell line originator's grandsons is trying to establish guardianship.

(U.S. Edition) Millions of federal employees are going to work today under new rules from the Trump administration. We’ll talk about what some of them entail, which include a limit on the amount of time employees can spend on union duties. Afterwards, we’ll discuss tension between President Trump and other members of the North Atlantic Treaty Organization over how much they should pay for defense, and then we’ll look at how the U.S. is ending special visas for entrepreneurs. Today’s podcast is sponsored by Carbonite (Carbonite.com), Michigan Economic Development Corporation (planetm.michiganbusiness.org), and USPS (USPS.com/future). (07/09/2018)

(Global Edition) From the BBC World Service … With months to go before the U.K. officially exits the European Union, Britain’s Brexit secretary turned in his resignation overnight. He explains why he’s decided now is the right time to resign, and whether he’s encouraging others in cabinet to follow suit.  Then, news from Nissan about falsifying emissions data. Afterward, the #MeToo movement has exposed sexual harassment in many industries…but what about in farming? We’ll hear from one of our reporters who has been investigating the problem worldwide. Today’s podcast is sponsored by Carbonite (Carbonite.com), Michigan Economic Development Corporation (planetm.michiganbusiness.org), and USPS (USPS.com/future). (07/09/2018)

The political action committee is conducting a series of trainings for STEM professionals.

Innovation is a big buzzword in the tech community, but that doesn't always mean innovation for people with disabilities.

About 20 percent of Americans have one or more disabilities. And just like the the physical world, the digital one is not always readily accessible. So, how do we make the internet a place everyone can enjoy? It starts with design. Marketplace’s Lizzie O’Leary spoke with Mikey Ilagan, an accessibility specialist with the design firm Think Company, about the challenges people with disabilities face online and how to solve them.