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Aug 9, 2012

Marketplace Morning Report for Thursday, August 9, 2012

In Syria, rebel forces are battling with the government for control of the economic hub of Aleppo. At crucial moments like this in the Libyan conflict, there was assistance for the rebels from the U.S. and NATO — in both money and materials. The latest economic data out of China show a continued economic slowdown there. New numbers on factory output and retail sales came in below expectations this morning. And the defense industry is worried it may have to issue mass layoff notices if Congress doesn’t stop us from going over the so-called fiscal cliff in January. But what does the fiscal cliff mean for you?

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Segments From This Episode

In China, fallen politician Bo Xilai still has fans
by Rob Schmitz
Bo Xilai faces corruption allegations. His wife is charged with murder, but in Chongqing, the city he formerly administered, he still has admirers.
The costs of a U.S. intervention in Syria
by Mitchell Hartman
When fighting in Libya spread, U.S. and NATO planes were soon flying sorties to help out the rebel side — and it was costly. How a similar intervention in Syria might cost us.
What the fiscal cliff could mean for individual taxpayers
by Paddy Hirsch
Ryan Pierse/Getty Images
We've talked about the possible effects of the fiscal cliff on the economy, but there will be immediate and duplicate consequences for individuals too.
Shannon Eastin becomes first female NFL referee tonight
by Marketplace Contributor
Shannon Eastin will be making her historic NFL debut tonight as a temporary replacement. That's because the league locked out its regular refs as part of an ongoing dispute over salary and retirement benefits.
Economic data shows continued slowdown in China
by Marketplace Contributor
The latest economic data out of China show a continued slowdown there. New numbers on factory output and retail sales came in below expectations this morning.
Standard Chartered diverges from other bank scandals
by Christopher Werth
The scandal over British bank Standard Chartered is taking some interesting turns. This week New York's financial regulator charged the bank with concealing transactions for Iranian clients — breaking U.S. sanctions against Iran. Standard Chartered could lose its New York license, which would be devastating.
Fiscal cliff could cause layoffs for defense contractors
by Eve Troeh
The big defense contractors — including Lockheed Martin and Pratt & Whitney — say they may have to send out mass layoff notices to their employees in a few months. That's because they're worried that hundreds of billions of dollars in expected cuts to the Pentagon's budget will have a big effect on them.
U.N. warns of possible food crisis
by Jeremy Hobson
The world could face the worst food crisis in five years if countries like the U.S. start restricting exports of agricultural products. That's according to the UN's Food and Agriculture Organization, which says bad weather is causing a spike in global food prices that could be made worse if countries stockpile.
Poor factory and retail signals from China
by Jeremy Hobson
In China, two reports this morning signal bad news ahead for the world's second largest economy. Factory output grew at the slowest pace in three years last month, and retail sales fell.
Why is China interested in U.S. battery maker?
by Jeff Horwich
Wangxiang Group, China's biggest auto-parts conglomerate, has offered $450 million for a controlling stake in a Massachusetts electric car batteries company.
Upper middle class sees the biggest jump in student loan debt
by Jeff Horwich
The Wall Street Journal finds that upper-middle-income households with annual incomes between $94,000 and $200,000 are finding it more expensive to pay for college.
PODCAST: Hitting the breaks in China, preventing a global food crisis
by Mary Dooe
PETER PARKS/AFP/GettyImages
In Syria, rebel forces are battling with the government for control of the economic hub of Aleppo. At crucial moments like this in the Libyan conflict, there was assistance for the rebels from the U.S. and NATO — in both money and materials. The latest economic data out of China show a continued economic slowdown there. New numbers on factory output and retail sales came in below expectations this morning. And the defense industry is worried it may have to issue mass layoff notices if Congress doesn't stop us from going over the so-called fiscal cliff in January. But what does the fiscal cliff mean for you?
AARP study: Americans over 50 worry for future
by Jeff Horwich and Jeremy Hobson
As many young adults struggle with finding a job and paying off student loans, and as families across the country work to pay off their mortgage, another group of people is even more worried about the future: those close to retirement.