Week of July 30th, 2018

In a wide-ranging interview, the president’s top economic adviser told Marketplace’s Kai Ryssdal that tariffs are not hurting economic growth.

This week, we are revisiting a bunch of our favorite stories from over the past few years.

Manufacturers and farmers we talked to are frustrated by the import taxes and the exemption process.

(Markets Edition) We have yet another trade war update. China is upping up the ante by announcing it may impose tariffs on $60 billion worth of U.S. products. We’ll look at what’s behind this decision and the kinds of U.S. exports China is targeting. Afterwards, we’ll talk to Christopher Low, chief economist at FTN Financial, about the weaknesses in the jobs report released today, and then we’ll discuss how Greece is dealing with the aftermath of two major forest fires in Athens. Today’s show is sponsored by Abby Connect (Abbyconnect.com/morning), Carbonite (Carbonite.com), and Indeed (Indeed.com/marketplace). (08/03/2018)

China used to be a dumping ground for waste, but new policies have closed off the major market.

Average hourly pay gains remained modest, increasing 2.7 percent from a year earlier.

CBS reported stellar earnings on Thursday, and CEO Leslie Moonves spoke about a bright future for the network even as he grapples with allegations of sexual misconduct. Similar charges have been leveled at the executive producer of one of the network’s most popular shows, “60 Minutes.” But will the scandals cause advertisers to flee the […]

(U.S. Edition) Since it’s jobs day, we’ll dive into how wages are faring in the U.S. While growth hasn’t been impressive, not all sectors are seeing stagnation. Afterwards, we’ll look at a new report that says the economies of Africa and Southeast Asia will be hit hardest by global warming over the next three decades. Then to cap of the show, we’ll discuss how “wasteheads” — people who are immersed in discussions and policy around the waste sector — are pushing for a better recycling system.  Today’s show is sponsored by Abby Connect (Abbyconnect.com/morning), Carbonite (Carbonite.com), and Indeed (Indeed.com/marketplace). (08/03/2018)

Bank tellers, truck drivers and bartenders are among those in high demand.

(Global Edition) From the BBC World Service…Four days after voters went to the polls, election results are finally in for Zimbabwe’s presidential race. But controversy is swirling about the credibility of the outcome. We’ll hear from one factory owner who describes how the results could impact ongoing international investment in the country. Then, despite Venezuela’s ongoing economic crisis, the country’s gasoline is still the cheapest in the world. But President Nicolas Maduro wants to change that. Afterwards, Botswana has been described as one of the world’s fastest-growing economies with an average annual growth rate of just under 5 percent But skills shortages and high public sector wages have been blamed for underemployment of the country’s graduates. Today’s show is sponsored by Abby Connect (Abbyconnect.com/morning), Carbonite (Carbonite.com), and Indeed (Indeed.com/marketplace). (08/03/2018)

Four of the biggest companies in the world — Alphabet, Amazon, Facebook and Apple — all reported earnings over the last two weeks. These companies either sell gadgets, services or ads — or maybe a combination of the three. And for a long time, it looked like selling ads, fueled by personal information, was the holy grail of digital business models. But lately, it looks like less of a slam dunk. Is the advertising star dimming as a reliable business model? Marketplace’s Molly Wood decided to ask an investor — Emily Melton, a partner at venture capital firm DFJ. (08/03/2018)

This tech earnings season, services, gadgets, and the cloud won. Advertising … took a hit.

The U.S. economy created 157,000 jobs in July. The unemployment rate dipped to 3.9 percent. The last time was saw unemployment that low? The year 2000. What does all of this mean for wages? And for businesses looking to hire more workers?

Jackie Walorski from Indiana's 2nd District led an analysis of the tariff exemption process.

13 states are challenging the proposal.

There's an appetite for female stories, but a real lack of female mentors, Susanna Fogel says.

Brookstone, the specialty retailer that sells eye masks, massage chairs and other gadgets, filed for bankruptcy protection for the second time Thursday. The company says it’s going to shut down its roughly 100 mall-based stores. They’ve become less of an attraction as more shopping moves online. The company’s 35 airport-based stores are doing much better. […]

In LA’s real estate market, sellers of even modest homes are paying thousands for rental furnishings — all designed to dazzle buyers.

(Markets Edition) The Federal Reserve met this week, but they did not end up raising short-term interest rates. We’ll look at what they have planned for the rest of the year and their assessment of the economy. Afterwards, we’ll discuss the standards that currently exist for data breaches, and then we’ll explore how Barcelona, Spain, is planning to turn some of its empty apartments into public housing. Today’s show is sponsored by Battelle (Battelle.org/QI) and Indeed (Indeed.com/marketplace). (08/02/2018) 

Spain is in a housing crisis. According to the latest official figures from 2012, around 22,000 people are homeless, though more recent estimates from nonprofits say it could be closer to 40,000. And there’s a surplus of empty homes — hundreds of thousands of apartments owned by banks, repossessed during the country’s financial crisis between […]

This week, the Treasury Department issued recommendations to protect consumers from big data breaches, like the ones we’ve seen at Equifax and Target. Among the Treasury Department’s recommendations: creating a national standard for handling the aftermath of data breaches. Click the audio player above to hear the full story. 

On Wednesday, the Trump administration unveiled a proposal for even higher tariffs on many consumer goods imported from China. We went to a shopping center in Austin, Texas, to find out what buyers of those goods thought about the plan. Click the audio player above to hear the full story. 

(U.S. Edition) Wells Fargo has agreed to a $2 billion fine a decade after the financial crisis. We’ll look at the details of the company’s settlement with the Justice Department and how it compares with other settlements from the recession. Afterwards, we’ll hear from customers at a Walmart in Texas to find out what they think of the Trump administration’s tariff plans, and then we’ll talk to reporter Paul Tullis about the vulnerabilities that exist with GPS. Today’s show is sponsored by Battelle (Battelle.org/QI) and Indeed (Indeed.com/marketplace). (08/02/2018)

(Global Edition) From the BBC World Service … Google has been non-operational in China for the last eight years thanks to worries about government censorship. But the tide could be about to turn. Then, Bank of England Governor Mark Carney has been dubbed the “unreliable boyfriend” as Britain’s central bank has been weary to raise interest rates over the last few months. Today, though, investors are near certain a quarter percentage point rate rise will be delivered. But with Brexit looming and slow wage growth, is now – realistically – a good time? Afterwards, how much would you pay up for a piece of movie memorabilia? How about as much as a mortgage on a house? We talk to Prop Store’s CEO about how much film history is going for in an upcoming auction. Today’s show is sponsored by Battelle (Battelle.org/QI) and Indeed (Indeed.com/marketplace). (08/02/2018)

With so many reports about hacks and breaches, is security staff getting burnt out?

This weekend in Las Vegas, the huge cybersecurity event Black Hat USA kicks off, followed immediately by the other big cybersecurity event of the year, Def Con.  There are always some big hacker stunts at these events — hackers already broke into a voting machine as a Def Con demonstration. But after a year of major data breaches, there’s also a sense of security fatigue. Chester Wisniewski is a principal research scientist at Sophos, a security firm. He talked with Marketplace’s Molly Wood about whether that fatigue is affecting business. (08/02/2018)

If you’re the kind of sports fan who likes to put a little money on games, there was some news for you this week. The National Basketball Association has become the first major sports league in this country to sign a deal with a sports betting operation. Back in May the Supreme Court said it […]

Here are some pros and cons on the policies.

The city of Kamaishi is the birthplace of the modern Japanese steel industry, but that hasn't shielded it from change.

This week on the show we're talking with Rifat Oguz, founder and CEO of Sinemia.

The MoviePass competitor set its sights on the American market … and they're not backing down.

The big U.S. and foreign automakers release their July sales numbers Wednesday. Car and light-truck sales have been strong so far this year — with consumer confidence up, the job market good, and people banking a little more income from the recent tax cuts. How does the rest of the year look for automakers? Click […]

The economics of housing the homeless is a tricky equation, especially in New York City, which has a right-to-shelter mandate, meaning the city has to provide a temporary bed to anyone who needs it. Because of demand, the city often houses people in apartments and hotels where accommodations can be spotty and social services nonexistent. […]

(Markets Edition) Interest rates are going up — not at the hands of the Fed, but market forces. We’ll look at how a new report on hiring in the private sector is fueling this. Afterwards, we’ll discuss the state of the auto industry and the risks it faces in the near future, and then we’ll explore how one New York City nonprofit is changing up the homeless shelter model by becoming its own landlord. Today’s show is sponsored by Carbonite (Carbonite.com), Indeed (Indeed.com/marketplace), and Michigan Economic Development Corporation (planetm.michiganbusiness.org). (08/01/2018)

The tech giant posted Q3 revenue growth in services of 30 percent compared to a year ago, but tariffs could pose headwinds in Q4.

(U.S. Edition) Apple has revealed it earned more than $11.5 billion in profits with help from the usual suspects like iPhones and iPads. But while those products performed well, a lot of the growth actually came elsewhere. We’ll look at what the next frontier is for Apple. Afterwards, we’ll talk to chef Peter Hoffman, who opened several restaurants in New York City beginning in the ’90s, about how he saw the 2008 financial crisis play out in his business. Today’s show is sponsored by Carbonite (Carbonite.com), Indeed (Indeed.com/marketplace), and Michigan Economic Development Corporation (planetm.michiganbusiness.org). (08/01/2018)

(Global Edition) From the BBC World Service … Apple is getting ever closer to becoming the first trillion-dollar company as investors cheered second-quarter earnings released yesterday. But with the company’s share price pacing higher, we’ll explain one race in which the tech titan has lost ground. Then, for centuries, diamonds have been seen as precious objects of desire, and near necessities for couples about to be married. But more synthetic versions of the stones are becoming more ubiquitous, and diamond giant De Beers says in September, it will begin offering a range of lab-created diamonds for the first time in its history. Today’s show is sponsored by Carbonite (Carbonite.com), Indeed (Indeed.com/marketplace), and Michigan Economic Development Corporation (planetm.michiganbusiness.org). (08/01/2018)

A proposed law in San Francisco could keep tech companies from offering free food … will it also help bridge the divide between tech workers and the rest of the city?

Chef and entrepreneur Peter Hoffman says there are risks he didn't take, "but there’s also the work towards coming to accept that — this is enough."

Free food is a legendary perk of working at a tech company. The cafeterias at Apple, Google, and Facebook are almost like a tourist attraction. But cities in the San Francisco Bay Area are saying that the free lunches are killing local business, and they’re moving to ban company cafeterias. The city of Mountain View made a law in 2014 that said Facebook’s new campus couldn’t offer free food, and last week, San Francisco city supervisors proposed a rule that any new offices in the city couldn’t include cafeterias. Marketplace’s Molly Wood talks with Joe Fitzgerald Rodriguez, a columnist for the San Francisco Examiner, about the proposal. (08/01/2018)

Ralph Lauren posts earnings bump by leaning in to full priced products

Almost all the ginseng grown in America comes from the state, and the majority of that crop gets exported to China. It's the perfect target for retaliatory tariffs.

But are you feeling it? We took it to the streets to find out.

Your shopping bill could be getting noticeably higher. Procter & Gamble today announced it’s planning to raise prices on a lot of its products, including Bounty paper towels and Puffs tissues. One reason for those increases? P&G is having to pay a lot for wood pulp, which is basically what paper towels, diapers and toilet […]

Every tariff tells a story, and we’re looking at a kinda weird one.

Utah is leading states in efforts to reduce childhood poverty, one study found. One approach it's taken? Creating programs that tackle intergenerational poverty in families.

(Markets Edition) Leslie Moonves, the CEO of CBS, will continue leading the company while it investigates sexual misconduct claims against him. We’ll talk to New York Times media reporter Ed Lee about why he’s keeping his position during a time when other CBS has taken swift action against other figures — like Charlie Rose and Matt Lauer — with allegations against them. Afterwards, we’ll  chat with economist Lindsey Piegza about what the latest data says about inflation and how the Fed might react to it, and then we’ll explore how long-distance buses are making a comeback. Today’s show is sponsored by Abby Connect (Abbyconnect.com/morning), Carbonite (Carbonite.com), Indeed (Indeed.com/marketplace), and USPS (USPS.com/future). (07/31/2018)

When allegations came out against Charlie Rose and Matt Lauer, CBS took swift action.

In tweets and in statements to the press, Trump says he’s willing to force a government shutdown over funding for a border wall. But Congress is actually making better progress than usual.

Seth Kaplan, managing partner at Airline Weekly, joined us to talk about the labor pool for airlines.

When it comes to traveling between major cities, trains, planes and automobiles are the usual go-tos, but buses are beginning to make a comeback. Amid rising gas prices and increasing airfares, companies offering bus services for trips of 200 to 400 miles have sprung up.  Click the audio player above to hear the full story. 

The U.S. Secretary of State plans to visit Malaysia, Singapore, and Indonesia this week as part of the Trump administration’s increased focus on what they call the “Indo-Pacific region.” The U.S. plans to spend $113 million on new initiatives in the region.

Want to know how tariffs are impacting the U.S.? Look at the Lone Star State.

We want to know what your expenses are and how you keep costs down.

As the Manafort trial begins, here's a glossary to help you navigate some wonky terms.

(U.S. Edition) Puerto Rico’s bankrupt power company is moving closer to privatization now that the government has announced it’s reached a deal with the utility and its creditors over debt. We’ll look at what exactly both sides have agreed on. Afterwards, we’ll talk about the state of manufacturing in Texas, and then we’ll discuss how airlines are coping with a pilot “shortage.” Today’s show is sponsored by Abby Connect (Abbyconnect.com/morning), Carbonite (Carbonite.com), Indeed (Indeed.com/marketplace), and USPS (USPS.com/future). (07/31/2018)

(Global Edition) From the BBC World Service … The Bank of Japan surprised investors today when it made no changes to monetary policy. We’ll explore why the decision from the BOJ – the last mover in the global central bank chain – was so closely watched. Then, new figures on U.K. car manufacturing look a bit shocking, but we look under the hood to identify what’s driving a domestic production decline and how Brexit is adding to a longer-term headache. Afterwards, large corporations, including Starbucks, have recently announced plans to eliminate single-use plastics. But is there more consumers can do to reduce their plastic footprint? We talk to the author of a new book out this week called “Turning the Tide on Plastic.”  Today’s show is sponsored by Abby Connect (Abbyconnect.com/morning), Carbonite (Carbonite.com), Indeed (Indeed.com/marketplace), and USPS (USPS.com/future). (07/31/2018)

The Trump administration has "a plan for a plan" in place. What does that mean for the safety of our data?

Hackers, probably Russian, successfully broke into electric utilities last summer. Homeland security officials revealed those intrusions for the first time last week. There were also reports last week of attempted cyberattacks on various members of Congress, and this week, the Senate is likely to have a showdown over funding for election security.  There had been a White House cybersecurity coordinator who organized the national response to cyberattacks, but the Trump administration eliminated the job back in May. Marketplace Tech host Molly Wood talks with Daniel Castro, vice president at the nonprofit Information Technology and Innovation Foundation, about what this means for U.S. cybersecurity. (07/31/2018)

Economics students in the U.K. led the charge to include lessons from the financial collapse in university curricula.

What are the benefits? Risks? And are you protected?

The execs are stuck between tariffs and shareholders right now. They’re hoping you will save them.

When managing a shopping center, "every day is a fresh opportunity for creative problem solving."

The acting head of the Environmental Protection Agency appears to be approaching his job differently than his predecessor, Scott Pruitt, at least in the early going. Andrew Wheeler is likely to still advance President Donald Trump’s push to dispense of industry regulations, but observers say he’s doing it in a more careful way compared to […]

(Markets Edition) The Federal Reserve is gearing up for another meeting this week. We spoke with Julia Coronado, economist at MacroPolicy Perspectives, about what to expect from the meeting and what the interest rate forecast looks for the rest of the year. Afterwards, we’ll discuss how Caterpillar’s performance as a company can reflect how the global economy is doing, and then we’ll explore the work obstacles some families face when trying to fulfill food stamp requirements. Today’s show is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors) and Indeed (Indeed.com/marketplace). (07/30/2018)

Utah's done more than any other state in the country to reduce its child poverty rate since 2010, one study says.

Today President Donald Trump will welcome Italian Prime Minister Giuseppe Conte to the White House. When Conte and Trump met earlier this year at the G7 and NATO summits, they found common ground on Russia and on anti-immigration policy. But they see things differently when it comes to trade and military spending — two issues […]

(U.S. Edition) With the U.S. Senate planning to look into how platforms like Facebook are used to influence elections, we’ll examine a new report from the U.K. that calls for media regulations. Afterwards, we’ll discuss where Italy-U.S. relations currently stand ahead of Trump’s meeting with Italian Prime Minister Giuseppe Conte, and then we’ll look at how Utah is using data to reduce its child poverty rate. Today’s show is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors) and Indeed (Indeed.com/marketplace). (07/30/2018)

(Global Edition) From the BBC World Service … Less than a week after winning his election campaign — pledging to spend more on health care, education, and social safety – Pakistan’s soon-to-be prime minister may first look to the International Monetary Fund for his country’s biggest-ever bailout. Then, the U.S. Supreme Court’s decision to overturn decades-old legislation banning sports betting has paved the way for a deal between British betting brands and MGM Resorts. What does this mean for the future of what could become a multibillion-dollar U.S. market? Afterwards, a visit to India where female rickshaw drivers are breaking down gender stereotypes with their bright pink rigs. Today’s show is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors) and Indeed (Indeed.com/marketplace). (07/30/2018)

A look at the big banks' answer to Venmo.

For many people, especially those under 40, paying a friend, or settling a restaurant bill, or squaring up after happy hour isn’t done in cash. It’s done by peer to peer app.  You’ve probably heard of PayPal and Venmo, which PayPal owns. Now, there’s some competition from Zelle, the big banks’ answer to Venmo. Rahul Chadha follows peer to peer mobile banking for the research organization eMarketer.  His firm says Zelle will overtake Venmo this year. One thing that helps?  Zelle comes pre-installed in the mobile apps of many big banks. Chadha spoke with Marketplace’s Lizzie O’Leary about whether that’s enough to lift Zelle up. (07/30/2018)