Week of January 13th, 2025

A budget battle is brewing.

Insurance companies have a surplus to help pay out claims, but that doesn’t mean an insurer will be available in your state.

Of course retail sales were up in December — credit card debt hit an all-time high. Plus, lawyers prep for Trump 2.0.

Multifamily housing was a big part of the increase. But there is still high demand for single-family homes.

December sales figures showed spending was strong, but more consumers are using credit cards and buy now, pay later programs to finance purchases.

Books, newsletters and podcasts about the past, including “The Rest Is History,” are popular and profitable, explains journalist Will Dunn.

As the incoming team develops executive orders and initiatives, critics are hiring staff and reviewing lessons of the first term.

“We’re never going to get to affordability if we don’t get insurers back into California. And the way we do that is by bringing down the risk,” said Ricardo Lara, the California Insurance Commissioner.

Today: a conversation with California Insurance Commissioner Ricardo Lara about gaps in insurance and what the road to recovery might look like.

Over the first 10 years of the 21st century, developing economies were growing at historically fast rates. That has since changed.

Both programs are major sources of government spending and could find themselves in the sights of those who want to slash federal budgets.

Democrats and Republicans alike generally support spending on health insurance programs Medicare and Medicaid.

From the BBC World Service: China’s economy grew by 5% last year, beating expectations. But economic difficulties remain.

Maria Curi, tech policy reporter at Axios, joins Marketplace’s Kimberly Adams for “Tech Bytes: Week in Review.”

The costs can vary widely and using the right building materials is essential, says wildfire policy analyst Kimiko Barrett.

Despite lingering inflation concerns, retail sales were strong last month. Plus, wholesale electricity prices and matching skills with employers’ needs.

December saw a 0.4% monthly gain and November was revised up. Less well-off consumers kept up with the aid of credit cards or savings accounts.

But how does that show up in your electricity bill?

China has had years to figure out how to best respond to U.S. tariffs. That means it’s developed plenty of strategies to respond to any new tariffs during Trump’s second term.

Companies reported on their quest to fill jobs in the Fed’s Beige Book. The arrival of AI may have changed hiring needs.

The social media app is set to face a ban on Jan. 19.

Claire Contreras, an elementary school teacher, reflects on the challenges of trying to find long-term places to stay after losing her home.

Texas would join a growing number of states that have invested in private education in recent years.

The algorithm behind the app’s success is proprietary and hard to replicate. And Chinese-owned alternatives like RedNote could also be vulnerable to a ban.

“All of this just kind of puts a big question mark on our long-term ability to even stay in LA,” reflects one renter after losing her home to a fire.

TikTok is set for a ban in the coming days. Queue the rush to alternative applications.

From the BBC World Service: Across Europe, economic challenges and political shifts having been shaking up bond markets.

Cyrus Farivar of Forbes explored how the power of nature overwhelmed the AI-powered network of sensors. But as wildfire damage increases across the country, the emerging “fire tech” field is working on solutions, he explains.

The cost of housing remains a major driver of inflation. Plus, big banks and small businesses.

EV sales jumped 15% year on year and the growth of charging facilities hit a record as businesses see profit potential.

And, Justice Alito said what now?

Shelter costs were 4.6% higher in December than a year earlier, and they account for more than a third of the consumer price index.

Goldman Sachs, JPMorgan and other prominent names beat earnings forecasts. The Federal Reserve and volatile markets are giving them a boost.

Trump officials have called President Joe Biden’s use of humanitarian parole illegal. Even without policy changes, pathways to stay in the U.S. legally are limited.

Thanks to a cooling labor market, workers are clocking 45 minutes on the job less each week compared to 2021.

The fires in Los Angeles “could make this the costliest insured loss due to wildfires in history globally,” said Karen Collins with the American Property Casualty Insurance Association.

While more damage and displacement is expected, we’ll examine the estimated losses recorded so far.

“Twin challenges” arise as Los Angeles continues to face massive wildfire destruction in a tight housing market.

Catastrophe bonds play an important role in keeping the insurance market functioning at a time when it’s getting harder for homeowners to get affordable coverage. But what happens catastrophe actually strikes?

Catastrophe bonds keep insurance markets functioning at a time when it’s harder for homeowners to get coverage.

From the BBC World Service: Germany’s economy has shrunk for the second time in a row, with GDP down 0.2% in 2024.

Steve Grobman, chief technology officer at cybersecurity firm McAfee, reports that opportunists are using AI and other tech to deceive and rip off good Samaritans.

The potential prohibition of the Chinese social media giant has sent users in search of other options. But some are based in China too.

A former wildland firefighter explains why fires don’t have to become disasters.

We hear from Gina Raimondo in her final week as commerce secretary. Plus, employment expectations and the Detroit Auto Show.

Where prices did climb — warehousing and transportation — points to an inventory build. Upcoming CPI will make the inflation picture clearer.

The troubled office space market is showing signs of life as firms seek flexible short-term spaces for their employees’ return to work.

Kai Ryssdal does an “exit interview” with Commerce Secretary Gina Raimondo.

For the past few years, the annual gathering was held during warmer months. But many didn’t go for it, which may seem surprising given the typical weather in January in Michigan.

In December, respondent confidence in getting hired fell to the lowest level it’s been since 2021.

GoFundMe campaigns to help out those affected by Southern California’s wildfires have raised at least $100 million, a spokesperson said.

Nonprofits, federal relief programs and crowdfunding campaigns are all being used to help those displaced by the fires.

The term refers to adults caring for both older parents and children — which takes a toll on mental, physical and financial health.

Burger chain Shake Shack just announced plans to expand to 1,500 stores. The fast casual sector is growing much quicker than other parts of the restaurant industry.

More drivers are joining ride-booking apps at a time when there is less demand for their services.

A growing number of Americans are joining the “sandwich generation” — adults caring for both younger children and aging parents at the same time.

From the BBC World Service: Italian fashion photographer Oliviero Toscani, known for controversial Benetton ad campaigns, has died at age 82.

Apate AI CEO Dali Kaafar explains how his company’s chatbots are stopping phone scammers before they reach a real human and extracting as much information as possible to learn about what scams are out there.

About 45% of firefighters in the U.S. are privately employed.

Fuel efficiency standards influence the decisions of manufacturers and motorists. What happens if Trump weakens them? Plus, wildfire technology and AI stocks.

Kate Dargan Marquis of the Moore Foundation discusses spurring research and development to keep up with the growing impact of wildfires.

Over the last two years, stock prices of a few huge American tech firms have soared, now accounting for over a third of the value of the S&P 500.

It’s often in the interest of lenders themselves to work with borrowers and provide options for repaying the loans.

Wyoming Game and Fish stretched state dollars in a costly market by renting factory-constructed homes to staff.

These regulations have changed a lot since the 1970s. Each president has tinkered with them.

The Department of Government Efficiency, aka DOGE, is a task force Trump has appointed, headed by Elon Musk and Vivek Ramaswamy. It has some lofty resolutions for its stated goal of cutting wasteful government spending.

California’s state backup insurance plans are now buckling under pressure of intensifying natural disasters.

Congress and President-elect Trump’s staff are readying executive orders and legislation that can be signed as soon as he enters office.

A 1099-K form is sent to self-employed people who use third-party payment apps. Its threshold has been lowered from $20,000 to $5,000.

We’ll unpack the latest on the Los Angeles fires. Also: The GOP is readying immigration policies before Donald Trump takes office.

From the BBC World Service: A BBC investigation finds some workers for Chinese fast-fashion giant Shein are working more than 75 hours a week.

It’s the ongoing question about artificial intelligence — will it replace jobs or create new ones?