Week of September 24th, 2018

There are two big stories swirling around two of the tech world’s biggest names at the end of this week: Tesla and Facebook. Tesla’s leadership is up in the air after the Securities and Exchange Commission announced Thursday it’s suing CEO Elon Musk for making what it called “false and misleading statements” on Twitter about […]

For thousands of homeless people living in their cars across California, car impoundment can be the tipping point into joblessness and a life on the streets.

The Securities and Exchange Commission sued the Tesla CEO for what it says was misleading tweets that hurt investors. A former SEC lawyer tells us what could be next.

A bill in Congress would require all employers to use the government’s E-Verify system.

(Markets Edition) In the wake of the SEC filing a lawsuit against Tesla CEO Elon Musk for what it says were misleading tweets that hurt investors, we spoke to a former SEC lawyer to talk about what the outspoken Musk could be facing. Also, we check in with economist Chris Low about the markets. Then, we look into E-Verify, the electronic government system that checks if workers are indeed U.S. citizens or eligible to work in the U.S. Today’s show is sponsored by GAIN Capital Group (gaincapital.com) and Indeed (indeed.com/marketplace). (09/28/18)

(U.S. Edition) Tesla’s stock has dropped 10 percent after federal securities regulators sued CEO and founder Elon Musk. Musk is accused of sending out misleading tweets that caused company stock to fluctuate, which then hurt investors. Then, Brazilian oil giant Petrobras is on board with playing about $800 million to settle corruption investigations. Also, we sign on for a quick course in tort law, courtesy of Ralph Nader at his very own American Museum of Tort Law. We took a tour of this museum. He also talked to us about that time GM had him under surveillance. Today’s show is sponsored by GAIN Capital Group (gaincapital.com) and Indeed (indeed.com/marketplace). (09/28/18)

(Global Edition) From the BBC World Service … Can German Chancellor Angela Merkel convince Turkey’s president to loosen his grip on human rights and the economy during their expectedly stormy meeting Friday? It’s been a turbulent year for Europe’s biggest low-cost airline, Ryanair, which on Friday saw more pilot strikes – and more disgruntled customers. The global fertility industry is expected to grow by more than 8 percent over the next four years, and with each round of treatment costing a couple of thousand dollars, many women are priced out and turn to a sperm grey market to get what they want; we assess the dangers. Finally, a gym in London is providing punching bags with the faces of some of the main players involved in Brexit so people can vent frustrations. Today’s show is sponsored by GAIN Capital Group (gaincapital.com) and Indeed (indeed.com/marketplace). (09/28/18)  

In a web exclusive, the consumer advocate explains how a run in with GM fueled his career.

…because he fought the auto industry for increased safety. And won.

TV is still the big dog when it comes to advertising. But it’s slipping. Advertisers are moving their dollars online, fast. The money is mostly flowing to Facebook and Google because those platforms can use personal information to target ads specifically based on your interests. But the next frontier in TV ads is coming our way. AT&T just completed its purchase of Time Warner and has launched an ambitious new ad-tech strategy. The plan is to take all that data it has from wireless subscribers and its internet services and deliver way more targeted ads on television. Today on Marketplace Tech, we dig into how this would work in Quality Assurance, the segment where we take a closer look at a big tech story. Molly talks with Ad Age media reporter Jeanine Poggi. (09/28/18)

"It's absolutely about competing with Google and Facebook," an Ad Age reporter says.

The commission is asking for an order that would stop Musk from being “an officer or director” of any public company.

A mainstream surge in the format meets a depleted projectionist industry.

But there are still obstacles ahead.

The CEO of one of the nation’s largest automakers says metal tariffs imposed by the Trump administration earlier this year have cost his company $1 billion in profits and sales. Ford boss Jim Hackett made the comment at a gathering of business leaders in New York on Wednesday. The administration imposed the steel and aluminum […]

Starting next year, a judge, not ability to pay bail, will decide who remains jailed in the state before trial.

The state rakes in a pretty penny on overnight hotel stays, and how that money should be spent has been a contentious issue lately.

(Markets Edition) The Federal Reserve announced a raise in interest rates yesterday. We review Federal Reserve chair Jerome Powell’s speech on the limits of the central bank in steering the American economy. Also, a new study finds that student debt is widening the wealth gap between black and white households. We look at the ways in which borrowing and support for borrowing, differs between black and white college students and grads. And for students heading to college, the Free Application for Federal Student Aid opens on Oct. 1. Personal finance expert Beth Kobliner wants to encourage families to have “the talk” about borrowing for college early. Today’s show is sponsored by Battelle (Battelle.org/QI), Indeed (Indeed.com/marketplace) and Purple Mattress (purple.com). (09/27/18)

New study examines race and student debt.

Tips on less-terrifying ways to talk about the cost of college with kids.

(U.S. Edition) As expected, the Federal Reserve raised its benchmark rate Wednesday, keeping up with a trend of gradual rate increases after steep drops during the financial crisis. In world news, the head of the International Monetary Fund agreed to increase a loan package to Argentina as its form of currency, the peso, continues to underperform. Then we look at how California became the first state to eliminate bail last month, and how a few other states have followed suit. Today’s show is sponsored by Battelle (Battelle.org/QI), Indeed (indeed.com/marketplace) and Purple Mattress (purple.com). (09/27/18)

(Global Edition) From the BBC World Service … Italy’s new government will be releasing its first budget Thursday. But how realistic is it to offer every citizen a guaranteed basic income when your country’s debt is so high? Investment behemoth Goldman Sachs begins its Europe expansion by offering retail banking in the U.K. And as old trading relationships break up, we look at one successful trading model between Israel and Britain that’s so successful it’s being replicated worldwide. And a new study shows that workplace romances aren’t blossoming as much as before. Today’s show is sponsored by Battelle (Battelle.org/QI), Indeed (indeed.com/marketplace) and Purple Mattress (purple.com). (09/27/18)

The tech giant is sitting on the Facebook killer. When will it give iMessage to the world?

Earlier this week, the founders of Instagram up and left Facebook five years after Facebook bought their company. But quitting isn’t so easy for the rest of us. Facebook has our friends, our pictures and our snarky comments. It’s why there are so few real competitors. And if you switch to a smaller social network, it’s pretty lonely. But earlier this year, Microsoft, Facebook, Google and Twitter announced a project to make it easier to move your personal information between services. That data portability is just what it sounds like — creating the option for users to move on. Host Molly Wood talks with Kevin Bankston, director of the Open Technology Institute at New America, a think tank in Washington, D.C., about one big reason for the portability project: the European privacy law known as GDPR. (09/27/18)

Tech companies are trying to figure out how to make it easier to move your data.

A closer look at Washington's finances, slaves and the conflicts of interest that came with them.

Fundamental questions about workplace diversity and privilege are playing out in Congress as the Judiciary Committee meets to consider the Supreme Court nomination.

Fees from phone bills only cover about three-quarters of the costs to operate the nation's call centers; states and cities scramble to cover the rest.

Your two top tariff questions, answered.

So far, homeowners are resisting cashing out.

In the latest installment of My Economy, a dispatch from a far-flung group of Scottish islands.

We'll have an answer by Monday morning…

The co-founder of Creative Artists Agency helped shift Hollywood’s balance of power.

Why the concept of developing workers' skills is still recovering from the Great Recession.

(Markets Edition) The Federal Reserve is likely raising its target for short-term interest rates, but Fed chair Jay Powell is also expected to speak out about the future of the economy. We talked to an economist of our own for more. Then, we look back at how the financial crisis of 10 years ago affected the aspect of training — specifically, how companies had to roll it back when the economy tanked. Also, you might have heard that Dunkin’ Donuts is actually dropping the “Donuts” part of the name. However, it’s coffee that’s at the heart – or hole – of this story. Today’s show is sponsored by Indeed (indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (09/26/2018)

In many cities, only a fraction of people facing eviction can actually get legal help.

The Federal Communications Commission is seeking to limit the municipal fees that wireless companies must pay to install their new 5G antennas.

(U.S. Edition) We’re on Fed watch, where the Federal Reserve is expected to have a word in the coming hours on whether interest rates will rise for the third year in a row. Fed chair Jay Powell is also expected to field some questions and share some insight about the economy. Also, we’re checking in on what the FCC has to say about 5G, the next level of wireless internet. Then, we examine the connection between lawyers and the homeless, especially when it comes to eviction. Today’s show is sponsored by Indeed (indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (09/26/2018)

With the rise of big data, the internet of things and automated factories, existing internet infrastructure's getting clogged.

Don't worry, you can still pick up a glazed donut with your morning coffee.

(Global Edition) From the BBC World Service … The world’s biggest biometric data scheme gets a legal green light, but private firms are excluded from using data gathered by India’s national ID cards. Online ticket re-sales form a massive industry – we speak to victims of re-sale scams and find out how it dents the long-term survival of the music industry. Also, a Harry Potter-themed bar pops up in London to attract millennials. Today’s show is sponsored by Indeed (indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (09/26/2018)

Much of the physical makeup of the internet lies on the ocean floor in the form of fiber optic cables that snake between continents. They’re what allow you to send email or Facebook messages to friends around the world. But just like roads get clogged with traffic, these information highways are starting to get clogged, too. An ambitious initiative out of Finland is underway to solve the problem by laying a new route through the one body of water still largely untouched by sea cables: the Arctic Ocean. (09/26/18)

You don't have to go to D.C. to explore one of the biggest libraries in the world.

We’re talking with Carla Hayden, Librarian of Congress, about running one of the largest libraries in the world.

Creative Artists Agency, the talent agency he co-founded, pioneered the concept of "packaging" artists together to make deals.

At the U.N. General Assembly, Iranian president accuses the Trump administration of violating “state obligations.”

A California-based importer of Chinese-made auto part says he has no choice but to pass the cost of new U.S. tariffs onto consumers.

It takes money to run a campaign and first-time candidates have to learn how to ask for it.

(Markets Edition) The European Union announced a system that lets companies buy things from Iran, a payments-through-bartering system that’s called the “Special Purpose Vehicle.” We ask how this fits in with talk surrounding economic sanctions. Also, the Federal Reserve is meeting Tuesday and Wednesday to talk about the economy and the cost of borrowing. Then, with midterm elections coming, we look at one of the most difficult tasks for first-time candidates: Asking for money. Today’s show is sponsored by Indeed (indeed.com/marketplace) and Alliance for Lifetime Income (retireyourrisk.org). (09/25/2018)

U.S. Trade Representative Robert Lighthizer is scheduled to meet Tuesday in New York with trade officials from the European Union and Japan. It’s the fourth meeting they’ve held in the past year, all in an effort to join forces against Chinese trade practices they say are unfair. Click the audio player above to hear the […]

(U.S. Edition) Trade officials from the European Union and Japan are slated to meet up with U.S. trade rep Robert Lighthizer in an effort to band together against what they call unfair Chinese trade practices. Also, while the numbers show a strong overall economy, data is also showing that housing sales could be slowing down. Then, we talked to Ray Dalio, founder of the biggest hedge fund company in the world about his new book and the concept of debt cycles. Today’s show is sponsored by Indeed (indeed.com/marketplace) and Alliance for Lifetime Income (retireyourrisk.org). (09/25/2018)

(Global Edition) From the BBC World Service … The EU is setting up a payment system that will allow businesses to continue trading with Iran, after U.S. sanctions are reintroduced. A 48-hour general strike has started in Argentina, as people protest huge cuts in public spending – which the government agreed to in exchange for a $50 billion loan from the International Monetary Fund to help out with the country’s economic woes. Finally, India has rolled out a multi-billion dollar health insurance system that will provide cover for almost half of its population. The scheme, dubbed “Modicare” after Prime Minister Narendra Modi, comes just ahead of the country’s general elections in 2019. But are India’s hospitals ready for such an ambitious project? Today’s show is sponsored by Indeed (indeed.com/marketplace) and Alliance for Lifetime Income (retireyourrisk.org). (09/25/2018)

The founder of Bridgewater Associates, who predicted the Great Recession, has a new book out that examines the nature of debt crises.

"People talk a big game here when it comes to privacy, but they don't actually do very much," one venture capitalist says.

Searching the web is one of the most revealing things you can do. It shows what you’re looking to buy, where you want to go and if you’re worried about a weird rash. When you search Google, those searches help power its huge digital advertising networks, which is why you might see skin cream ads for that rash days later, on a totally different website. But do people know how much information they’re giving up? And do they care? Molly Wood looks at search engine DuckDuckGo – the “anti-Google” – and growing investment in it. (09/24/18)

New study says a quarter of U.S. workers have left a job because of a bad commute.

China and Canada were once two of the state's best customers. Iowa's agriculture secretary has some ideas about what to do next.

Their work has historically been undervalued.

Why politically themed movies, books and podcasts are everywhere.

(Markets Edition) The Trump Administration announced that it wants to make it tougher for legal immigrants to get permanent residency, which includes wanting non-cash programs to weigh against granting green cards. Also in public assistance, Congress is working on the massive farm bill, which includes the Supplemental Nutrition Assistance Program (SNAP). We look at how the need for SNAP is actually moving to more rural areas. Then, OPEC members met over the weekend and decided not to boost oil pumping. What does that mean going forward? Today’s show is sponsored by Indeed (indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (09/24/2018)

Since the late 1970s, lawmakers have placed the SNAP nutrition program into the farm package hoping to get both urban and rural support. But that thinking might be outdated.

Haidilao's IPO comes at a time when hot pot chains are expanding globally.

(U.S. Edition) Congress and the White House are nearing the Oct. 1 deadline for an agreement on a budget for the new fiscal year. But Congress is putting off some of the more contentious decisions, which include money for a border wall. Could a government shutdown be coming? Also, Airbnb has asked the SEC to let it pay people who rent out their places using Airbnb stock. Then, we move to food, where hot pot eateries are rising in popularity to the point where a Chinese chain is going public on the Hong Kong exchange. Today’s show is sponsored by Indeed (indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (09/24/2018)

The three major credit agencies now allow you to freeze your credit for free.

(Global Edition) From the BBC World Service … Taxes on Chinese imports into the U.S. are implemented Monday. We hear from China, where young peoples’ anti-U.S. sentiment is fueled by fears of what the tariffs mean for China’s U.S.-reliant industries. Randgold and Barrick – two of the biggest names in gold mining – have merged to create a multibillion dollar company. The World Health Organization (WHO) has advertised its first paid internship after a long campaign by one of its alumni, now 29 years old. And Spotify, the music streaming firm, can make personalized playlists based on your DNA. Today’s show is sponsored by Indeed (indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (09/24/2018)

It used to be that stories of tech companies breaking all the rules and fighting city hall were considered sexy. But right now we’re having conversations with more suspicion about things like unproven driverless technology, online advertising, unstoppable data collection and automation. Yet, here with a defense of tech’s disruptive mentality is Bradley Tusk. He’s a political operative turned tech consultant who has a new book called “The Fixer.” It’s full of pirate stories of him helping heroic startups like Uber work around innovation-killing politicians and their rules. Molly Wood talks with Tusk about the politics of tech. (09/24/18)  

Bradley Tusk's new book "The Fixer" is about breaking the rules while respecting regulation.