Week of October 1st, 2018

When we report on the world’s thirst for energy, we often miss something: chemicals made from oil and gas. A new report Friday finds petrochemical demand in the world is surging for things like synthetic rubber, packaging, fertilizer and detergents. In the long run, chemicals may be a bigger driver of world oil demand than […]

The hours — and the fatigue — add up.

The industry is crowded with internet competition, forcing one retailer into Chapter 11 bankruptcy.

The lives of many educated, skilled people have essentially been put on hold by a pile of changes to immigration policies.

(Markets Edition) The Labor Department’s household survey from Friday morning shows rising payroll tallies in September, along with July and August’s totals revised upward. Also, the unemployment rate improved even further. Also, the Department of Transportation has released new guidelines for self-driving vehicles. One key adjustment: A human is no longer required to be in the driver’s seat for autonomous commercial vehicles. Then, we learn about how China’s taxpayers are getting more money to take home. Today’s show is sponsored by American Express (americanexpress.com) and PayPal (paypal.com). (10/05/2018)

America's economic expansion is now the second-longest on record, having already surpassed the boom of the 1960s.

After strong employment growth for the past year, the sector stalled out in August.

(U.S. Edition) The September jobs report is gaining most of the attention on Friday morning, with forecasters expecting signs of steady jobs growth. But one thing that appears to be leveling off is the manufacturing sector. We look into why. We also look at Walmart’s efforts into offering better job training to workers after the company joined about a dozen others in a pledge to train millions of workers in the next five years. Also, we look into the trouble of Danske, the Danish bank blanketed in a money laundering scandal. Today’s show is sponsored by American Express (americanexpress.com) and PayPal (paypal.com). (10/05/2018)

(Global Edition) From the BBC World Service … After intense pressure from shareholders against the move, Unilever does a U-turn on plans to scrap it’s dual-share structure and shift its headquarters away from the U.K. to the Netherlands. Then, Russian president Vladimir Putin is in India Friday meeting with the country’s prime minister Narendra Modi. The two countries signed a new defense-weapons deal, but it could provoke the U.S. into imposing fresh sanctions on India. Afterwards, anger with the status-quo political environment is an issue for countries all over the world. But in Brazil, where more than half the current crop of Congresspeople are under investigation in connection to corruption, it’s a big issue for voters. We’ll take you to Sao Paulo to hear from some ready to cast their ballots on Sunday. Today’s show is sponsored by American Express (americanexpress.com) and PayPal (paypal.com). (10/05/2018)

Facebook announced this week that it had suffered its biggest hack ever, compromising the accounts of at least 50 million users. Part of the reason a Facebook hack is so scary is that the social network connects to so many other apps and services. You might use it to log in to Spotify or Tinder or OpenTable — a whole string of apps might have your information connected to your profile. So far, Facebook has said hackers did not access any third-party apps. But it’s still investigating the scope of the hack. We dig into this in Quality Assurance, the segment where we take a deeper look at a big tech story. Molly Wood talks with Mike Isaac, a tech reporter for The New York Times who’s been covering the story. (10/05/18)

At least 50 million users had their accounts compromised in the breach.

It's something parents need to think about more and more these days.

Some firms are adding production lines in other Asian countries.

We're talking about Reddit. A new book takes a deep dive into the site's history and impact.

The latest cyberattack goes way beyond the social network itself.

(Markets Edition) The 10-year bond yield is actually up 3.19 percent, one of several signs that the U.S. economy is gaining strength. We talk to economist Diane Swonk for more. In healthcare news, a Kaiser Family Foundation survey has found that employers are paying more for each employee’s health plans. We look at how the employees are also paying more. Finally, financial expert Beth Kobliner helps parents find ways to handle the FAFSA, the grueling financial aid application process for college. Today’s show is sponsored by GAIN Capital Group, (gaincapital.com), Michigan Economic Development Corporation (planetm.com) and PayPal (paypal.com). (10/04/18)

The companies that still donate are also becoming more transparent.

Early conversations with kids about paying for college can save thousands in the long run.

(U.S. Edition) A stronger U.S. economy means that more U.S. bonds have been selling off, which means a boost to the 10-year treasury yield. Marketplace’s Tracey Samuelson helps explain more. Then we look into the story of Chinese agents using computer chips to possibly hack into computers used by Amazon, Apple and the U.S. government. Also, a year ago Friday, the bombshell story about Hollywood mogul Harvey Weinstein’s predatory behavior surfaced, sparking the #MeToo movement. What’s really changed since then, especially in the corporate world? Today’s show is sponsored by GAIN Capital Group, (gaincapital.com), Michigan Economic Development Corporation (planetm.com) and PayPal (paypal.com). (10/04/18)

(Global Edition) From the BBC World Service … The U.K. could tip in to another recession after it leaves the European Union, warns the Royal Bank of Scotland’s (RBS) chief executive Ross McEwan. Two Japanese giants have made a deal to create a “mobility network” intended to change public transport, healthcare and office work – we hear about a new multimillion dollar partnership between Toyota and Softbank. It’s Super Thursday in the U.K., the biggest day of the year for publishers releasing new books for a place in the Christmas bestseller lists. Today’s show is sponsored by GAIN Capital Group, (gaincapital.com), Michigan Economic Development Corporation (planetm.com) and PayPal (paypal.com). (10/04/18)

"There are lots of different kinds of remedies between doing nothing and firing," ACLU attorney Gillian Thomas says.

Automation is coming. And although it’s inevitably going to take jobs away, it’s also going to create millions of new jobs, make production more efficient and kickstart entire new industries. The countries that invest in automation early, and in the retraining that will help workers transition to new types of jobs, could really jump ahead economically. That’s partly why automation is a huge part of the Chinese government’s Made in China 2025 initiative. That’s the country’s plan to reduce its reliance on outside technology and create a tech economy that rivals the West. Automation is an especially big deal in China because there’s so much manufacturing there. It’s sometimes referred to as “the world’s factory.” Marketplace’s China correspondent Jennifer Pak joins host Molly Wood to talk about how big a deal the transition to automation might be for China. (10/04/18)

China wants robots. Lots and lots of robots.

Autonomous cars made more interesting in a deal that's more Silicon Valley than Detroit.

Cyberthreats keep CEOs up at night. We asked experts what those scenarios look like.

He's the longest-serving chief executive on Wall Street.

The Green Bay Packers are the latest team seeking gains from a stadium adjacent development.

Starting next month, Amazon will pay its more than 350,000 U.S. workers $15 an hour. The company is now worth more than a trillion dollars. So what obligations do corporations have when they get this big?  Click the audio player above to hear the full story. 

We keep hearing about an affordability crisis in housing. Home prices and rents are going up, while wages aren’t keeping pace. Add to that the shortage of homes for sale because builders aren’t building enough and current homeowners aren’t putting their homes on the market. Sen. Elizabeth Warren (D-Mass.) recently introduced legislation to address the […]

(Markets Edition) Private employers in the U.S. made 230,000 hires, well above projections, according to Wednesday morning’s ADP survey. Meanwhile, we now know why one of China’s highest-paid actresses was missing for months: She’s been in custody, suspected of tax evasion and facing $129 million worth of fines. Then, we look at how rural areas are still struggling to get decent internet access, and how that struggle affects business at large. Today’s show is sponsored by Alliance for Lifetime Income (retireyourrisk.org), GAIN Capital Group, (gaincapital.com) and the I Love You But I Hate Your Politics podcast. (10/03/18)

Cybersecurity is now the top worry of Jamie Dimon, the CEO of JPMorgan Chase.

According to the Federal Reserve Bank of Cleveland, nearly half of all workers will at some point in their career become “displaced” — that is, they will lose a job through no fault of their own. When that happens, getting back to the level of income earned before the displacement often takes years, if not […]

(U.S. Edition) It appears the newly negotiated USMCA trade agreement among the U.S., Canada and Mexico has a provision in it that targets China. Also, we look again at how Amazon has agreed to pay 350,000 of its workers at least $15 an hour. The trillion-dollar company might have found that balance between giving back and investing in itself. And, we look at how workers that have been displaced – meaning their jobs disappear – get on a faster path to recovery by living near their parents. Today’s show is sponsored by Alliance for Lifetime Income (retireyourrisk.org), GAIN Capital Group, (gaincapital.com) and the I Love You But I Hate Your Politics podcast. (10/03/18)

(Global Edition) From the BBC World Service … Luxury carmaker Aston Martin has been listed on the stock exchange, but will it live up to the long-term success of Ferrari shares after slow initial trading?  There’s been a muted response to Melania Trump’s visit to Africa, as her diplomatic and deal-making acumen is questioned; we get the view from the business community in Ghana and Kenya. Companies are beginning to show their conscience in advertising – we report on Nike’s decision to sign Colin Kaepernick amidst controversy, and British beauty brand Lush, which openly protests against what it sees as unethical undercover police behavior. Today’s show is sponsored by Alliance for Lifetime Income (retireyourrisk.org), GAIN Capital Group, (gaincapital.com) and the I Love You But I Hate Your Politics podcast. (10/03/18)  

This week, the United States, Mexico and Canada made a tentative trade deal that will replace NAFTA, the North American Free Trade Agreement. And while NAFTA is better known for, say, avocados and cars, the United States-Mexico-Canada Agreement, as it’s known, is updated for the digital age. For example, it would protect internet companies like Facebook or Google from being sued over material that shows up on their services. It addresses how internet services and future 5G might work in all three countries. And it would make it easier for digital goods and data to cross borders. Molly talks about it with Victoria Espinel, who is on the federal Advisory Committee on Trade Policy and Negotiations and is CEO of the software industry trade group called BSA / The Software Alliance. (10/03/18)

NAFTA didn't really deal with digital trade. USMCA does.

Amazon announces that all its employees should earn a living wage, but many still struggle at $15 an hour.

No one’s made that joke before, right?

When you think of high rents and overcrowding, you probably don’t think of farmland. However, according to a new report by the Urban Institute, rural communities are facing a lack of affordable housing, just like more densely populated urban areas. One hundred fifty-two rural counties throughout California, Texas and several southeastern states, among others, were […]

We check in with a stainless steel producer who is still trying to get reimbursed for tariffs he believes he wrongfully paid.

It puts some pressure on firms that might not be ready to raise workers' pay, one economist says.

The newly inked trade agreement between the U.S., Canada and Mexico resolves issues regarding pharmaceuticals and dairy — but that still the leaves the separate, unresolved feuds around steel and aluminum tariffs. How will the three countries use the NAFTA negotiations to influence how they figure out a metal tariff deal? Click the audio player […]

The trade agreement reached over the weekend between the U.S., Canada and Mexico includes longer intellectual property protection periods for the expensive class of drugs known as biologics.

Economists have raised concerns that big retail companies like Amazon are suppressing wages.

Wildfires scarred Bastrop, Texas and other central areas of the state in 2011.

(Markets Edition) Affordable housing isn’t just an issue in packed, urban areas. A new study has found that half of rural counties are also in dire need of it. Then, we look at the markets in light of the new NAFTA agreement as well as a monthly index of the manufacturing sector. We also take a trip to Bastrop, Texas, a small city that tells the story of how the threat of natural disasters can put a stop to thoughts of growth and development. Today’s show is sponsored by GAIN Capital Group, (gaincapital.com), PayPal (paypal.com), and Selligent (selligent.com).(10/02/18)

Employees at Whole Foods, which Amazon now owns, will get the same pay hike. Amazon's hourly operations and customer service employees, some who already make $15 per hour, will also see a wage increase.

The proposed pipeline would be between Alberta and Nebraska.

(U.S. Edition) While the new USMCA (formerly known as NAFTA) agreement addresses a variety of issues, one thing that’s still left unattended are the U.S. tariffs on steel and aluminum. Meanwhile, Italy and the European Union are on the verge of a budget battle, as Italy’s proposed budget has more deficit spending than the EU prefers. Then, we look at how TransCanada is moving forward with plans to build the Keystone XL oil pipeline, but will face landowners in the path of that pipeline gearing for a fight. Today’s show is sponsored by GAIN Capital Group, (gaincapital.com), PayPal (paypal.com), and Selligent (selligent.com). (10/02/18)

(Global Edition) From the BBC World Service … Car bosses have gathered at the Paris Auto Show and the hot topic is the new NAFTA. Chiefs of BMW and Toyota tell us their thoughts. British Prime Minister Theresa May tells us once again that businesses can be reassured in the face of Brexit, despite what some firms are saying about its aftermath. In the midst of London’s concrete jungle, in its first commercial vineyard since the Middle Ages, we visit a social enterprise with a unique purpose. And the International Monetary Fund appoints its first female chief economist, Gita Gopinath, who joins other institutions like the OECD and World Bank who have appointed their highest economic roles to women. Today’s show is sponsored by GAIN Capital Group, (gaincapital.com), PayPal (paypal.com), and Selligent (selligent.com).(10/02/18)

Can you copyright a dance move?

In the insanely popular video game “Fortnite,” players can spend about five bucks to unlock dances called emotes for their characters to perform. And these dances are everywhere. You see them on playgrounds, in pro sports, and there are “Fortnite” dance classes.  But are they really “Fortnite” dances? Most of them appear borrowed, like the dance called “Ride the Pony,” which is pretty clearly “Gangnam Style.” There’s the one called “Fresh,” which is a dead ringer for the “Carlton Dance” from the “Fresh Prince of Bel-Air.” Back in July, Chance the Rapper Tweeted at Epic Games, the maker of “Fortnite,” and said it should give rappers and artists credit and cash for their dances. A rapper named 2 Milly has said he might sue Epic Games over his dance “Milly Rock,” which he alleges is “Swipe It” in “Fortnite.” Host Molly Wood talks about it with Merlyne Jean-Louis, a lawyer and former dancer who’s written about copyrighting choreography. (10/02/18)

Why Gov. Jerry Brown signed the first-of-its-kind legislation into law.

General Electric told investors Monday it has ousted CEO John Flannery after only about a year in the job. The company said it’s also going to miss profit forecasts this year. These are tough times at one of America’s most iconic businesses, which raises the question: What is the role of an industrial conglomerate like […]

In cities where a housing shortage is driving up rents, some residents are withholding theirs to protest poor conditions.

Patrick Smith of Loftus Ranches in Yakima says the new trade deal takes away some uncertainty for farmers like him.

And does the strategy of investing in a strong bullpen pay off?

U.S. dairy farmers make gains in the U.S.-Mexico-Canada Agreement.

Emerging economies have had a tough time in the global economy recently. We’re talking about countries like India, Turkey, South Africa and Argentina. They’re deeply engaged in the world economy, and, in some ways, very vulnerable to its ups and downs. Click the audio player above to hear the full story. 

(Markets Edition) Canada joined the U.S. and Mexico to overhaul NAFTA. One of the sticking points that was resolved was that Canada would remove some of the protections on its dairy farms. Then, we talk about emerging economies, and how countries like India and South Africa are navigating life in the world economy. We also talk some Major League Baseball, especially the odd economics that come into play when teams want to get good pitching. Today’s show is sponsored by Alliance for Lifetime Income (retireyourrisk.org), GAIN Capital Group, (gaincapital.com) and Selligent (selligent.com). (10/01/18)

Bob Dudley on a volatile market, trade tensions and greener alternatives.

(U.S. Edition) The U.S. and Canada have managed to iron out new terms for the North American Free Trade Agreement (NAFTA) right before the U.S. imposed deadline, so now we have to learn about the letters USMCA. What do they mean? Then, we look back at the collapse of oil prices from two years ago, which led to a recession in the oil and gas industry. The price of crude has rebounded, but there are still some things to work around, according to our talk with Bob Dudley, CEO of BP. Today’s show is sponsored by Alliance for Lifetime Income (retireyourrisk.org), GAIN Capital Group, (gaincapital.com) and Selligent (selligent.com). (10/01/18)

(Global Edition) From the BBC World Service … A new trade deal to replace NAFTA is about to be sealed, with the U.S., Canada and Mexico all involved. We hear what concessions Canada has made to see it through. Macedonia can clear its way to join the European Union if it changes its name, but Greece, plus a botched referendum, are standing in the way. We look at if #foodporn changed the restaurant industry for better or worse. Finally, it could soon become enshrined in British law: restaurant owners must pass on all tips to waiting staff. Today’s show is sponsored by Alliance for Lifetime Income (retireyourrisk.org), GAIN Capital Group, (gaincapital.com) and Selligent (selligent.com). (10/01/18)

Elon Musk must resign from Tesla’s board of directors after a settlement on Saturday with the Securities and Exchange Commission over his tweets about taking the company private. He will stay on as CEO. It’s tough to separate the conversation about Tesla from the conversation about Elon Musk. But let’s talk about cars for a minute. Because it feels like electric car announcements are fast and furious lately. Ford is promising an electric crossover that’s the size of a Tesla Model X but inspired by the Mustang. There are rumors of a $30,000 electric Volkswagen. Is Tesla’s biggest problem actually competition? Molly talks with Maryann Keller, an auto industry analyst, about the new entries into the electric car market. (10/01/18)

The company made electric cars exciting, but can it make them ubiquitous?