Marketplace Morning Report for Monday, June 6, 2011

Segments From This Episode

• Horse virus threatens cutting season

  by Stacey Vanek Smith

  

  Horse cutting awards about $40 million in prizes each year, but a virus threatens to shut down this season's events.

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• Douglas Holtz-Eakin on spending cuts and the debt ceiling

  by Marketplace Staff

  The president of the American Action Forum discusses why spending cuts and tax reform are necessary to resolve the coming budget crisis.

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• McDonald’s apologizes for the quality of its coffee

  by Marketplace Staff

  The Australian branch of the fast food giant has conceded that its coffee is not up to scratch, and has announced plans for better blends and barista training to improve the standard of its brew.

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• High oil prices, global crises drive down airline profits

  The International Air Transport Association has cut its airline industry forecast for 2011, citing unrest in North Africa, the tsunami in Japan, and rising oil prices.

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• Coal mining fuels unrest in China’s Inner Mongolia

  by Rob Schmitz

  Last week, the Chinese government revamped standards and practices for coal mining in Inner Mongolia, in an attempt to calm local anger over possible environmental damage.

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• Teen job seekers face cruel summer

  by Tracey Samuelson

  However slowly, the economy is creating jobs. But not for teenagers, and that's frustrating for many now that school's out for summer.

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• ESPN a big selling point in bid for Olympic TV rights

  by Jennifer Collins

  TV executives are gathering in Switzerland today to bid for the rights to broadcast the next two Olympic games — Russia in 2014 and Brazil in 2016.

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• IMF approves $3 billion loan for Egypt

  by Jon Leyne

  The International Monetary Fund has agreed to help Egypt pay down its deficit in the wake of the pro-democracy movement — but the new government will also use the money to boost social spending.

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• U.S. banks at risk in European defaults

  by Amy Scott

  A study released by the Bank for International Settlements says U.S. banks are the very exposed to the economic woes of Greece, Portugal and Ireland.

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• Wall Street’s preferred deficit cuts: short-term gain with long-term pain

  by Marketplace Staff

  Julia Coronado, chief economist at the investment bank BNP Paribas, discusses what kinds of spending cuts would benefit the markets.

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• Iran: ‘There is no need to increase OPEC production’

  by Marketplace Staff

  The Organization of Petroleum Exporting Countries is slated to begin output policy talks on Wednesday. Jim Ritterbusch, of Ritterbusch and Associates, explains.

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