Week of September 3rd, 2018

When a tiny, rural Finnish town of 3,000 residents earned the title it presented a wild opportunity.

They aren't buying the food companies for the long run or the delicious taste.

We will be interviewing the politicians in a rare joint interview about the economy 10 years after the financial crisis.

The economy added a strong 201,000 jobs, and the unemployment rate stayed at 3.9 percent, near an 18-year low.

And still builders are facing a shortage of skilled and unskilled workers.

(Markets Edition) The month of August saw the the U.S. economy add 201,000 jobs, with the unemployment rate at 3.9 percent and wages growing 2.9 percent year over year. It’s the largest yearly jump since 2009. Also, we looked at how hotel chains like Hilton and Marriott plan to give employees panic devices by 2020 in an effort for employees to guard against sexual harassment and assault. Then, we take a look at the measurement of “embodied carbon,” which can be tied to the Paris accords of 2015. Today’s show is sponsored by All Turtles Podcast (allturtles.com), Avast (avast.com), GAIN Capital Group (gaincapital.com) and Indeed (indeed.com/marketplace). (09/07/2018)

A Washington state Superior Court judge may order the release of information a utility says contains trade secrets.

(U.S. Edition) The White House is considering another round of tariffs on about $200 billion worth of Chinese goods, and four major American tech companies are pleading for exemptions to those tariffs. Also, streaming services like Amazon and Netflix in the European Union will eventually have to dedicate 30 percent of their on-demand content to local shows. That rules starts in December. Then. we look at the duel between environmental groups and a coal plant in the Pacific Northwest, and how their feud illuminates the economics of coal versus natural gas. Today’s show is sponsored by All Turtles Podcast (allturtles.com), Avast (avast.com), GAIN Capital Group (gaincapital.com) and Indeed (indeed.com/marketplace). (09/07/2018)

(Global Edition) From the BBC World Service … British Airways has apologized to customers after revealing data for 380,000 customers was stolen. We’ll look at why airline websites are becoming big targets for hackers. Then, the British government is cutting salaries of Northern Ireland’s lawmakers who haven’t met for nearly two years. Afterwards, Starbucks is opening its first café in Milan on Friday, but how will it be perceived by those in the country who helped shape global coffee culture? Today’s show is sponsored by All Turtles Podcast (allturtles.com), Avast (avast.com), GAIN Capital Group (gaincapital.com) and Indeed (indeed.com/marketplace). (09/07/2018)

The breach affected 147 million people. Here's what's happened since.

It’s been one year since Equifax announced a giant hack four months after criminals stole the sensitive, personal information of more than 147 million people. And in that year, not a whole lot has changed. No federal data breach notification laws, no big changes to how credit agencies collect information or tell you what they’re collecting. Equifax’s stock is almost back up to where it started. One thing that has happened — Equifax has spent $200 million beefing up its security. That was part of a deal with eight states that let it avoid fines in exchange for protecting our data better. We dig into this in Quality Assurance, the Friday segment where we take a deeper look at a big tech story. Molly talks with Lily Hay Newman, a security reporter for Wired. (09/07/18)

Many consumers are keeping their credit frozen, just to be safe.

Donald Layton on the U.S. housing market 10 years after the financial crisis.

Employers don't just want to rely on salary to entice workers.

Why are the mortgage giants still under government control?

Dan Rosensweig saw a market in supporting modern college students.

(Markets Edition) If you’re among the legion of people annoyed with massively expensive drugs, know that you are not alone. A group comprised of national foundations and hospitals is launching a nonprofit company to make generic drugs of its own. It’s called Civica RX. Then, developing countries have been pouring a lot of money into the U.S. this year, and that’s caused some big drops for currencies tied to already-shaky economies. However, Thursday morning witnessed the improvement of many of those currencies. Also, Southeast Australia is dealing with its worst drought in almost 40 years. This is leading the government to assemble an aid package that’s worth $2 billion Australian dollars, or $1.4 billion dollars American. Today’s show is sponsored by Battelle (Battelle.org/QI), Emma (myemma.com), Indeed (indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (09/06/2018)

His bill is called the "Stop Bad Employers by Zeroing Out Subsidies," or "Stop BEZOS" Act.

(U.S. Edition) Facebook chief operation officer Sheryl Sandberg and Twitter CEO Jack Dorsey testified before the Senate Intelligence Committee on Tuesday, as tech companies are in Washington to discuss the possible impacts of foreign influence on their platforms. Dorsey also went before the House Energy and Commerce committee as well. Also, Senator Bernie Sanders is behind a bill that aims to tax companies based on whether their workers get public assistance. It’s called the Stop Bad Employers by Zeroing Out Subsidies (or Stop BEZOS) Act. We then examine how American workers who lose jobs are reticent to pack up and move. Why? One reason has been that job-rich areas also contain too-expensive housing, but there are other factors in play. Today’s show is sponsored by Battelle (Battelle.org/QI), Emma (myemma.com), Indeed (indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (09/06/2018)

(Global Edition) From the BBC World Service … U.S. Secretary of State Mike Pompeo is in India urging its government to halt imports of Iranian oil. Can India afford to completely cut off that crude trade? Then, tech titans are on Capitol Hill this week testifying about what they’re doing to prevent election interference on their platforms. At the same time, Facebook announced its first billion-dollar investment in a Singapore data center. We’ll hear from the company’s VP of infrastructure data centers about why Asia, and why now. Afterwards, luxury fashion brands have been known to destroy unsold merchandise, but today, Burberry announced it will stop using fur AND stop burning unsold clothes. We’ll chat about what this means for the fashion industry and whether other big-label brands could follow suit. Today’s show is sponsored by Battelle (Battelle.org/QI), Emma (myemma.com), Indeed (indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (09/06/2018)

A new Pew poll looks at what Americans do — and don't — know about how the social media feed works.

Facebook is still trying to convince lawmakers and the public that it’s making its business more transparent. But new research suggests the message isn’t getting through. According to a new poll from the Pew Research Center, the majority of Americans really don’t understand why they see what they see in their news feeds. Molly Wood talks about the poll with Aaron Smith, associate director of research on internet and technologies issues at Pew. (09/06/18)

Dan Rosensweig has moved the company from textbook rentals to AI paper help.

A new report by the Government Accounting Office doesn’t bode well for future disaster relief.

Facebook’s No. 2 executive, Sheryl Sandberg, and Twitter’s CEO, Jack Dorsey, testified before the Senate intelligence committee.

Financial turmoil during this period had some long-lasting effects on the Federal Reserve.

They found new homes in Turkey, along with frustration, resignation and hope.

Refinery29's Money Diaries series aims to upend taboos around money for women.

(Markets Edition) Players of the market are working their way around the news that America sent away more than it brought in during July. The trade deficit has widened to its largest gap in five months, and there’s possibly more to it than trade. The chief global strategist at J.P. Morgan Funds told us more. Also, U.S. Secretary of State Mike Pompeo is heading to Pakistan on Wednesday to meet with its new prime minister, but also to urge the country to do more to counter extremists. This comes after the U.S. denied an aid package to Pakistan. Then, we look at the Two Bit Circus, a micro-amusement park that fuses some old-school carnival fun with new-age tech. Today’s show is sponsored by Avast (avast.com), Indeed (indeed.com/marketplace) and Navy Federal Credit Union (navyfederal,org/flagship). (09/05/2018)

Giant theme parks often compete for visitors with ever bigger attractions and wilder rides. But in California, one amusement company thinks smaller is better. Two Bit Circus is trying to reinvent old-fashioned carnivals by opening a so-called “micro-amusement park.” The 50,000 square foot park can fit up to 700 visitors. It’s a gamble in a […]

The company, which just reached $1 trillion in market value, is trying to tap into a market of 1.3 billion people.

Student debt is topping $1.4 trillion dollars.

(U.S. Edition) Canadian and U.S. officials sat down Wednesday to talk trade and perhaps find solutions to their many – many – differences with a potential NAFTA overhaul looming. Canadian Prime Minister Justin Trudeau isn’t giving ground on some key issues. Also, with student debt piling up to $1.4 trillion, Congress is preparing to vote on a bill that requires student borrowers to get financial counseling every year. The counseling can happen online or in-person. Then, we take a look at the form the global economy has taken 10 years since the financial crisis. Today’s show is sponsored by Avast (avast.com), Indeed (indeed.com/marketplace) and Navy Federal Credit Union (navyfederal,org/flagship). (09/05/2018)

A McKinsey Global Institute report looks at what we learned and the risks we can expect moving forward.

(Global Edition) From the BBC World Service … After a meeting with the International Monetary Fund, Argentina is waiting for a decision on an advance loan of $50 billion. We hear how locals in Buenos Aires are dealing with economic hardship. Then, it’s been dubbed the scallop war – feuding French and British fisherman will hold talks in London to try and calm frayed nerves over rules governing scallop fishing in the English channel. Afterwards, tourist arrivals in Zimbabwe last year jumped 12 percent, but the country ranked just 114 out of 136 countries in an analysis by the World Bank of global tourism competitiveness. Efforts are underway to boost tourism businesses and the central bank recently introduced a $15-million dollar fund to support the industry. Today’s show is sponsored by Avast (avast.com), Indeed (indeed.com/marketplace) and Navy Federal Credit Union (navyfederal,org/flagship). (09/05/2018)

Ephemeral marketing is a big trend in social media advertising. You may know it as “stories.” Snapchat started the idea with short video or picture updates that disappear after 24 hours. Instagram copied the feature successfully, and this summer announced it had 400 million daily users on Instagram Stories. Over a million brands are creating Instagram Stories, and according to numbers Facebook released back in May, agencies are investing about 8 percent of their digital marketing budgets in the form. Kate Talbot is a marketing consultant who wrote a book on using Snapchat for business in 2016. Marcus Collins is chief consumer connections officer at the Doner advertising agency. Both tell Molly Wood that branded stories are a hit with audiences, and their disappearing act increases the appeal. (09/05/18)

The format is seen as "authentic," one marketer said.

What motivated the athletic-wear maker? It was a business decision, experts say.

It’s time for tech’s largest platforms to own up to their bias, says mathematician Cathy O’Neil.

Big banks are slashing fees — or even eliminating them.

The benefits of nostalgia.

Neel Kashkari on the 2008 financial crisis and what Congress would do if another crisis hits.

Apple was the first.

Fuel prices are on the rise, and that’s a problem for budget airlines that need fuel  prices to stay low so they can keep ticket prices competitive. Fuel can account for up to 25 percent of airline operating costs, so it’s a big expense, but one that’s easier for the larger airlines to absorb. Smaller […]

(Markets Edition) August was a solid month for U.S. stocks, but September has been historically rough. On Tuesday, the Dow came down 100 points. Is September to blame? Also, the Consumer Financial Protection Bureau just lost its watchdog for student loans, Seth Frotman. He said the U.S. wasn’t doing enough to protect the more than 40 million Americans dealing with student debt. He leaves at a time where scam artists are targeting that debt-ridden group. Then, a survey from HR/tech company Kronos finds that lots of people think they can do their day’s work in five hours instead of eight. Today’s show is sponsored by Avast (avast.com), Emma (myemma.com), Indeed (indeed.com/marketplace) and Michigan Economic Development (planetm.com). (09/04/18)

Back-to-school time is the second biggest shopping season of the year.

A Kronos Workforce Institute survey asks people about their productivity and time off.

(U.S. Edition) Social media companies will be participating in hearings on Wednesday to testify about foreign influence – specifically the version U.S. officials believe happened in the time leading up to the 2016 elections. Also, there’s more trade news, this time with the U.S. offering Europe an offer around U.S. beef imports. There’s history behind a quota meant to aid the U.S. cattle industry after European limits were found to violate trade rules. Then, the Trump administration’s 25 percent tariff on imported steel has led to retaliation from several nations, but one has been relatively quiet: Japan. Today’s show is sponsored by Avast (avast.com), Emma (myemma.com), Indeed (indeed.com/marketplace) and Michigan Economic Development (planetm.com). (09/04/18)

(Global Edition) From the BBC World Service … As the U.S. and China continue to ratchet up their trade war, China is fostering better relations in Africa. We hear from one of Kenya’s richest men and best-known entrepreneurs about what the investment from the world’s second-largest economy has meant for business in Kenya. Then, after new austerity measures were unveiled in Argentina on Monday, the country’s finance minister heads to Washington to try and secure an early release of a multi-billion dollar loan from the IMF. We’ll explore why the meeting is so important for both sides. Afterwards, LEGO has been hurt this year by a challenging retail environment and the closure of storied Toys ‘R’ Us. But one expert says there’s still life for the classic block maker. Today’s show is sponsored by Avast (avast.com), Emma (myemma.com), Indeed (indeed.com/marketplace) and Michigan Economic Development (planetm.com). (09/04/18)

Facebook, Twitter and Google have been invited to Capitol Hill to testify Wednesday in hearings about possible bias on their platforms. The companies have all been pledging to do better in recent months. But their platforms have been used, in some cases, to undermine democracy, incite violence and spread hate speech, among other ills. Jane McGonigal is a game developer and researcher at the Institute for the Future. That group, partnered with others, just released an online toolkit that they call an “ethical operating system.” It includes questions and exercises to help aspiring Googles and Facebooks “not be evil.” Molly Wood spoke with McGonigal about how it could help tech companies create more ethical products. (09/04/18)

Tech giants keep struggling to understand how their platforms affect society. A game designer has a new solution.

There's a disconnect between politicians' words on education and their actions, says Arne Duncan.

Trade talks with Canada resume Wednesday, and the stakes of a NAFTA agreement without Canada are high — trade between the two countries is worth $670 billion. But that’s not in line with what the President tweeted over the weekend, which stoked a debate over Canada’s inclusion in NAFTA. We’re also looking ahead to this week’s Senate Intelligence Committee hearing beginning Wednesday where social media executives will be in the hot seat talking about what they’re doing to prevent meddling in U.S. elections. Plus, back-to-school is fully in swing, so we continue our conversation with former Education Secretary Arne Duncan on how the education policy landscape has changed. And … a look into what your internet service provider knows about you.

The Labor Day weekend signals the last campaigning and fundraising push before the midterm elections.

(Markets Edition) British Prime Minister Theresa May is doubling down on Brexit, saying that any compromises or ideas of a new referendum on the UK’s planned exit from the EU wouldn’t be in her nation’s best interests. Also, the S&P 500 will be reclassifying Facebook and Alphabet, which is the parent company of Google. They’ll be shifting from the tech section of the index, which affects investors. Then, we look at how Labor Day weekend signifies a final political campaigning and fundraising push before the midterm elections, and how that battle is heating up in state legislatures. Today’s show is sponsored by Indeed (Indeed.com/marketplace), Simple Contacts (simplecontacts.com/marketplace) and U.S. Bank (usbank.com/altitude). (09/03/2018)

Teresa Romero is also the first immigrant woman to lead a national union. She talked to Kimberly Adams about a variety of topics before she steps into the role in December.

Now that classes start mid-August for many schools in the United States, Labor Day weekend is less of a “Goodbye, sweet summer!” thing. Even the AAA has stopped predicting a traveler’s forecast. Click the audio player above to hear the full story. 

(U.S. Edition) Monday might have been the Labor Day holiday for Americans, but it’s business as usual in China. The Chinese president will be meeting with African leaders at a summit in Beijing while also encouraging Chinese businesses to invest no less than $10 billon on Africa in the next three years. Also, the United Farm Workers elected Teresa Romero as its first female president, and she’s also the first immigrant woman to lead a national union. Then, we move to the perceived end of summer. It used to be Labor Day, but earlier starts for schools changed that. We examine how that shift affects Labor Day travel and tourism. Today’s show is sponsored by Indeed (Indeed.com/marketplace), Simple Contacts (simplecontacts.com/marketplace) and U.S. Bank (usbank.com/altitude). (09/03/2018)

(Global Edition) From the BBC World Service … To stem its ongoing currency crisis, Argentina is set to unveil a new round of spending cuts as its finance minister heads to Washington to try and secure a deal for quicker IMF payments. Investors are closely watching any new developments, but what does it all mean for local businesspeople trying to make a living? Then, 10 years after the global financial crisis, people are still struggling with debts – but now they’re “smaller and trickier,” according to new figures from a British charity that helps those dealing with financial problems. Today’s show is sponsored by Indeed (Indeed.com/marketplace), Simple Contacts (simplecontacts.com/marketplace) and U.S. Bank (usbank.com/altitude). (09/03/2018)

Labor Day is the perfect day for the last installment of our summer entertainment series. The movie “Demolition Man” is set in 2032. It portrays a utopian society with no crime or bad thoughts. Sandra Bullock plays a rookie future cop. Wesley Snipes is a supervillain on the loose. And Sylvester Stallone is the old-school violent cop brought out of cryostasis to hunt him down. Its 1993 tech predictions were solid. It had self-driving cars, video conferencing, voice-activated technology and even touch-screen tablets. Amy Webb is a futurist and professor of strategic foresight at New York University’s Stern School of Business. And she also consults on future tech for movies and TV. Molly Wood asked her how well “Demolition Man” did at predicting the future. (09/03/18)

Autonomous vehicles, tablets, video conferencing — the 1993 flick made some good calls.