Week of August 20th, 2018

The Grand Slam tennis event will add 25-second timers to keep matches moving.

Greater Houston area residents are voting on a bond to fund flood mitigation.

Gone are the days when a faded comforter from childhood was suitable for students.

Amna Hafez is like thousands of other Syrian women in Turkey who've been forced to create a new life for themselves and their families.

Working moms face many barriers. Among them, travelling while breastfeeding.

This week, central bankers, finance ministers and economists from the around the world flew to the mountain resort of Jackson Hole, Wyoming. They’re there for an annual economic symposium hosted by the Federal Reserve Bank of Kansas City. One focus of this year’s event is on so-called “superstar” firms like Amazon, which is a half-million […]

Pharmacy benefit managers, like Express Scripts, OptumRX and CVS Caremark, are taking a lot of heat for their role in drug prices. We explain the world of PBMs.

A career civil servant with little banking industry experience, Kathy Kraninger, tapped by the Trump administration to lead the Bureau of Consumer Financial Protection won the approval of the Senate Banking Committee in a party line split vote. Next, the full Senate will vote to approve her. Click the audio player above to hear the […]

Remember how the Republican tax overhaul put a $10,000 limit on state and local tax deductions? And several, mostly blue states, have been trying to find shall we say “innovative” ways around that. Well the Treasury Department is saying no to those efforts, not today. Then, central bankers, finance ministers and economists from the around the world flew to the mountain resort of Jackson Hole, Wyoming this week. They’re there for an annual economic symposium hosted by the Federal Reserve Bank of Kansas City. One focus of this year’s event is on so-called “superstar” firms like Amazon, which is a half-million employees strong, and whether these giant companies are partly responsible for holding down wages.  Today’s show is sponsored by Indeed  (Indeed.com/marketplace) and Carbonite (www.carbonite.com). (08/24/2018)    

Hurricane Lane is currently a Category 3 storm with 120 miles an hour winds. The slow pace of the storm means it’s dumping a lot of rain according to the Central Pacific Hurricane Center. There’s extreme flooding on the Big Island of Hawaii and it expects up to 40 inches of rain in some places causing life-threatening flash flooding and landslides into the weekend. The last major hurricane to hit Hawaii was Hurricane Iniki in 1992. We talk to Karl Kim, professor of at the University of Hawaii and executive director of the National Disaster Preparedness Training Center, about what it’s going to take to recover. Also, tomorrow will be one year since Hurricane Harvey dumped trillions of gallons of water on southeast Texas. Tomorrow is also the day voters in Harris County, the greater Houston area, will head to the polls to vote on a $2.5 billion bond package for flood risk reduction projects across the county. We check in with the residents of Houston.  Today’s show is sponsored by Indeed  (Indeed.com/marketplace) and Carbonite (www.carbonite.com). (08/24/2018)

(Global Edition) From the BBC World Service… After a bruising week in Australian politics, the country’s treasurer, Scott Morrison, has been sworn in today as the new prime minister. Then, controversy this week over President Trump’s attention on South Africa – we’ll dissect what’s happening with the country’s land-reform efforts and what impact it all has on the economy. Afterwards, Goldman Sachs introduced new benefits for working mothers breast feeding their children this week, it’s a trend that’s gaining momentum across the world. We chat with one mother who founded her own company aimed at alleviated stress for working moms. Today’s show is brought to you by Indeed (Indeed.com/marketplace) and Carbonite (www.carbonite.com). (08/24/2018)

"Many people … trust these big tech companies frankly more than they do their politicians," Politico's chief technology correspondent says.

This week, the European Commission said it’s drafting new rules to get companies like Facebook, Google and Twitter to take any terrorist content off their platforms within an hour. And while this plan has a long way to go to become law, it’s part of a broader move to increase tech regulation in Europe, where many countries have strict hate-speech laws. Politico’s chief technology correspondent Mark Scott says taking down terrorist threats is actually the easiest part when it comes to regulating speech online. (08/24/18)

The word “impeachment”  has been getting a lot of play over the last few days, including by President Donald Trump, who said this during an interview on “Fox and Friends”: “I tell you what, if I ever got impeached, I think the market would crash. I think everybody would be very poor.” Setting aside whether […]

"The Big Bang Theory" will likely remain a moneymaker even after its run on CBS ends.

The arts and crafts retailer is enlisting customers on its listserv to petition the taxes on Chinese products.

More than half of Americans don't have a will. We help you get started.

The U.S. Trade Representative is holding hearings on $200 billion in proposed tariffs.

(Markets Edition) Michael Cohen, the president’s former lawyer, has admitted to arranging for the parent company of the National Enquirer to pay $150,000 to former Playboy model Karen McDougal. This was to essentially buy her silence over her account that she had had an affair with President Donald Trump which Trump denies. The idea was American Media Inc. would buy the rights to the story and then just sit on it. But prosecutors say this coordinated effort wasn’t just about stopping stories from getting out. Paying hush money and sitting on stories isn’t necessarily illegal. Columbia Law School professor Richard Briffault says the legal problem is that because these coordinated efforts helped the Trump campaign, they become a contribution to the campaign. We talk to him on the show. Also, jobless claims are out today, 210,00 people filed for unemployment benefits. That number is low, but one analyst says maybe too low. Then, a story from California where a bill is under consideration that would legalize the sale of meals made in homes.   Today’s show is sponsored by Indeed (Indeed.com/marketplace) and by Abby Connect (abbyconnect.com).   (08/23/2018)  

(U.S. Edition) The latest round of tariffs on imports China went into effect overnight, covering $16 billion worth of imports. China immediately retaliated with their own tariffs, but businesses in the U.S. are focused on the next round of tariffs covering $200 billion worth of imports. The Office of the U.S. Trade Representative is in the middle of six days of hearings on tariffs. We hear from some business owners who testified in those hearings. In China, state media commentaries suggest people in China will be able to weather the trade tariffs for the sake of national pride. We look at a Chinese family’s use of American products. Also, don’t have a will? You aren’t alone. When the Queen of Soul, Aretha Franklin died last week at the age of 76, she left an extensive catalog of music for the world to enjoy for years to come. What she didn’t leave was a will, which means her family — with the help of lawyers — will now go through the courts to figure out how her assets will be distributed.  Today’s show is sponsored by Indeed (Indeed.com/marketplace) and by Abby Connect (abbyconnect.com).    (08/23/2018)

"There's a lot more going on in the background when it comes to truck loads," one expert says.

(Global Edition) From the BBC World Service… Business leaders have been banging the drums about the rising risks of a no-deal Brexit when the UK leaves the European Union next spring. But the British government today is publishing a series of papers about what to do in exactly that kind of situation. We’ll hear from the Brexit secretary himself, and a Welsh farmer who does business with EU nations. Then, tariffs on $16 billion worth of Chinese imports to the U.S. go into effect today as a new round of talks between the two countries kicks off in Washington. We’ll take you to Beijing where one company illustrates China’s global ambitions – and America’s worries. (08/23/2018)

Why PepsiCo is going all in on the DIY fizz biz.

Negotiators should seek specific policy changes, trade experts say.

Shares in Target hit an all-time high after the retailer reported second-quarter profits, revenue and sales that beat analysts’ projections — and an unprecedented increase in foot traffic through its stores. Target CEO Brian Cornell is so optimistic that he isn’t even worried about the effect of increased tariffs. The retailer has “a lot of […]

Apparel prices will rise a bit faster if the administration follows through on proposed Chinese tariffs, one expert says.

Why one fisherman in Alaska won't leave the industry, despite the ups and downs.

Despite current tensions, many businesses expect disruption to be short-lived.

Some homeowners are eager to sell, but officials fear new renters will be put in harm's way.

We explain what that means.

In May, the Trump administration announced import tariffs on Canadian steel and aluminum. Canada retaliated with its own, longer list of tariffs that includes steel and aluminum but also products from bourbon to strawberry jam. With the risk of an escalating trade war, a father-son team has created a website for Canadians to find products […]

(U.S. Edition) President Trump’s former campaign chairman Paul Manafort was found guilty of tax and bank fraud yesterday, only minutes after Trump’s former lawyer pleaded guilty to breaking campaign finance law. But that’s not all, Manafort still faces another trial next month on accusations that he failed to register as a foreign agent. So, what’s at stake in that next trial? What does it mean that he was acting as a foreign agent? How many people act as foreign agents? We break it down. Intelligence officials have warned that foreign hackers could once again target state voting systems in the November elections, as they did in 2016. So, states are spending on election security, but is it enough? Also on the show: There’s new interest among Canadians in buying domestic products that’s been sparked by new trade tensions with the United States. But, first some Canadians had to figure out what’s actually “Made in Canada.” Today’s show is sponsored by Indeed (Indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (08/22/18)

(Global Edition) From the BBC World Service…Workers stayed home and many businesses were at a standstill as Venezuelans tried to adapt to their new currency. The government says the measures will help combat hyperinflation, but critics say it’ll just make the ongoing economic crisis there worse. Then, new action by Facebook and Twitter to fight misinformation campaigns on social media ahead of the mid-term elections. Afterwards, summertime means peak tourist season, but some say millions are indulging in an unhealthy appetite for travel. We’ll take you to Edinburgh in Scotland where the largest arts festival in the world is happening and residents are finding it harder to deal with the influx of tourists. (08/22/2018)

Our aging voting systems are vulnerable, but can Congress act fast enough to be effective?

As of today the stock market is on a record tear, this is the longest bull market ever at least by one definition. The S&P 500 hit bottom on March 9, 2009 when it closed at just 676. It’s been more or less heading upwards ever since and yesterday it closed just shy of 2,900. We’ll get into what this means for the economy and what exactly constitutes a bull market. Plus, we talk to Susan Schmidt, senior vice president at Westwood Holdings about how this bull market is different than others. Also, U.S. travelers to the U.K. and the eurozone face two currency hurdles: calculating pound and euro prices in dollars and dealing with the higher cost of goods and services over there. How do they cope? With a little magical thinking.  Today’s show is sponsored by Indeed (Indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (08/22/18)

Next month, Danish shipping company Maersk will launch the first container ship on an Arctic Ocean route. The 3,600-container ice vessel will travel from Vladivostok in eastern Russia all the way to St. Petersburg in the west using the Northern Sea Route. That’s a shipping lane running across Russia’s northern coast. Click the audio player […]

"I am cautiously pessimistic" about trade in this economy, a member of the motor vehicle supplier industry says.

A steel producer stands behind Trump's decision to implement tariffs.

He could get four to five years in prison at his Dec. 12 sentencing.

Following four days of jury deliberation, Paul Manafort, the former Trump campaign chairman, was found guilty of eight financial crimes Tuesday.

The Environmental Protection Agency released details today of its plan to replace the Obama-era rules governing carbon emissions from power plants. The EPA’s proposals differ radically from the old Clean Power Plan. They give a lot of concessions to the coal industry. President Donald Trump has long promised to end what he calls the “war […]

TV oldies like “I Love Lucy” and “Bewitched” have managed to hold on to devoted superfans more than 50 years after they aired. There’s a vibrant market for memorabilia.

More than 2 million Americans receive rental housing assistance from the federal government through the Housing Choice Voucher Program, also known as Section 8. But new research sponsored by the Department of Housing and Urban Development finds low-income families don’t have much “choice” in where they are able to use their vouchers. In many places, landlords […]

(Markets Edition) More than 2 million people get government aid to help pay rent through Section 8 housing, or the Housing Choice Voucher program. But new research is showing that landlords are making the choice to refuse most of those vouchers. The Department of Housing and Urban Development is working on a solution – a task force designed to get more landlords on board with the program. Also, we look at how tomorrow signals the longest bull run ever … but when is the drop going to come? Then we look at what companies that go public, and how some of them are adapting strategies dating back to the dot-com boom to make post-IPO money. Today’s show is sponsored by Alliance For Lifetime Income (retireyourrisk.org/advisors) and Indeed (Indeed.com/marketplace). (08/21/2018) 

(U.S. Edition) President Trump is back on the attack against Federal Reserve chair Jerome Powell, saying he’s “not thrilled” with the Fed for boosting interest rates during an interview with Reuters. He also took time to toss some criticism at China mere days before trade talks are supposed to resume in Washington. Then, we take a look at the rise of used car prices, which have grown a little more than 5 percent from the previous year in July, according to data from Cox Automotive. Also, we look at the fiscal relationship between domain names and countries, like Israel.com or Korea.com, which have sold for millions. The former owner of France.com is suing France – the whole country – after it seized his domain name. Today’s show is sponsored by Alliance For Lifetime Income (retireyourrisk.org/advisors) and Indeed (Indeed.com/marketplace). (08/21/2018) 

Domain names are hot property for countries. Israel.com sold for almost $6 million in 2008. Korea.com went for $5 million in 2000. Now, a Miami man is suing France – the country – for seizing his domain name: France.com. France’s Ministry of Foreign Affairs convinced the domain registration company Web.com to hand over the domain […]

Used car prices hit a record high this summer according to recent data from the business and research firm Cox Automotive. Economists there found car prices for July, which is usually a slow month, were up 5.1 percent from the same month last year. Why is this happening? Click the audio player above to hear the […]

(Global Edition) From the BBC World Service … Chinese and American officials are meeting in Washington today to discuss the ongoing trade spat – and overnight President Trump again ramped up pressure saying China is “absolutely” manipulating its currency. But what exactly does that mean, and what implications could it have on the souring relationship between the world’s two biggest economies?  Afterwards, it’s not just the U.S. and China caught up in a trade spat – most Asian economies are intricately linked to China through their supply chains. What hurts Beijing can also hurt other nations like South Korea, Taiwan, and Singapore. Today’s show is sponsored by Alliance For Lifetime Income (retireyourrisk.org/advisors) and Indeed (Indeed.com/marketplace). (08/21/2018)

Girl Scouts CEO Sylvia Acevedo worked at NASA and IBM before she took the top job at Girl Scout headquarters. Under her leadership, the organization has unveiled a round of STEM merit badges, including new ones for cybersecurity, robotics and mechanical engineering. These come at a time when the Girl Scouts face a shrinking membership. Guest host Lizzie O’Leary talks to Acevedo about whether the badges make the Girl Scouts more relevant and if they’ll help girls gain marketable skills. (08/21/18)  

The organization has new STEM-themed emblems — think robotics and engineering.

We talked with Civil COO Lillian Ruiz about the new, blockchain-powered news service.

The actor-director discusses Netflix, her latest role and the responsibilities of creating your own show.

Over 350 witnesses are slated to testify at the U.S. Trade Representative’s office on Trump’s proposal to tax another $200 billion worth of Chinese imports.

Really, it’s just an informed guess about how high or low a stock will go.

Crucial upgrades to the busy Route 495 bridge leading to the Lincoln Tunnel in New Jersey will snarl traffic.

A nonprofit program in Cleveland helps renters become homeowners.

According to a report from the Atlantic Council, a tech revolution is coming that could reshape the world – and the United States has some catching up to do.

Today Venezuela rolls out its new currency – the “sovereign bolivar.” It’s one of several steps the country is taking to curb runaway inflation, which is likely to top 1 million percent this year, according to the International Monetary Fund. What effect will this have on the South American nation’s economy? Click the audio player […]

(Markets Edition) Jackson Hole in Wyoming will be hosting the annual gathering of the Federal Reserve this week, where lots and lots of economic data is presented and discussed. Fed chairman Jerome Powell is set to deliver a speech on Friday, which will be a highlight for bankers and investors. Making sense of it all is Macro Policy Perspective founder Julia Coronado, who spoke with us. Then, we check in on the southern India state of Kerala, where hundreds have died from flooding caused by monsoon rains. Roughly 800,000 people have been displaced, and the area’s major airport has also been flooded. Anu Anand of the BBC gave us an update. Also, we examine the resurgence of rosé wine in the U.S., which goes against wine buffs’ perception of rosé as a cheap afterthought. Today’s show is sponsored by Indeed (Indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (08/20/2018)

(U.S. Edition) Today, Washington will be host to hundreds of companies testifying about the Trump administration’s plan to impose roughly $200 billion more in tariffs on goods from China. Most economists are seeing this as a bad move for the nation’s economy, according to a survey from the National Association for Business Economics. Also, commuters from New Jersey heading into to new are bracing for hard times as this morning marks the start of construction-related lane closures heading into the Lincoln Tunnel. During rush hour, about 10,000 cars an hour move through the tunnel. Then, we check in on the United States’ place in the worldwide tech race. An expert shares how other countries have pulled ahead. Today’s show is sponsored by Indeed (Indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com).

Rosé wine was long dismissed by wine buffs as cheap and cheerful. But the popularity of rosé is surging in the United States, where sales doubled in 2017. The biggest rosé region is in Provence, France. The French still tend to drink rosé in summer but a survey by United Kingdom-based consultancy Wine Intelligence says most […]

The country is designing a credit score that factors in social behavior.

(Global Edition) From the BBC World Service … Greece exits its third bailout today, but not everyone is celebrating 10 years after a financial crisis brought the country to its knees. Then, in Venezuela, inflation could reach 1 million percent by the end of the year as residents deal with sky-high inflation and economic hardship. Today, the country is taking five zeros off its currency in an effort to alleviate some of the pain. Afterwards, efforts to reduce plastic pollution are underway in many parts of the globe, but in Australia, some groups have been experiencing bag rage. Today’s show is sponsored by Indeed (Indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (08/20/2018) 

Few Chinese citizens have credit cards or any sort of credit history. But the country has started incorporating more credit into its economy and culture, and the government is working on a way to measure creditworthiness for both businesses and individuals. Its plan? A social credit score. The idea is akin to the American FICO system in that it’s a financial record of whether you paid your bills or traffic tickets. But the Chinese government is also tracking social behaviors — like whether you jaywalk or refuse to visit your elderly parents — and it’s figuring out how to incorporate those into your score. Amy Choi talked with Marketplace China correspondent Jennifer Pak about how the process for calculating social credits is taking shape.  (08/20/18)