Marketplace Morning Report for Monday September 22, 2014
A major grocery store chain based in Europe but with U.S. connections is grappling with a case of accounting irregularities. The apparent "Rob Peter to Pay Paul"-style accounting has surfaced at Tesco, the British grocery store company that started Fresh and Easy in the U.S. and has global sales that are often second only to Walmart. A Tesco whistleblower is helping authorities with the investigation. Plus, an estimated 310,000 people took to the streets in New York City on Sunday, calling for policy action on climate change. The demonstration aimed to draw the world's attention to the issue, with United Nations Climate Change Summit kicking off tomorrow. And we have entered the autumn, and it's later this fall when policymakers at the federal reserve are set to taper away their stimulus. This is the extraordinary bond-buying designed to keep the U.S. economy flush with cash as we moved out of the financial crisis. As the special bond buying comes to an end, it's is a useful moment to think about alternatives for next time. The next time a country needs emergency stimulus, instead of central bank bonds, how about if the government just hands out cash, right and left, willy nilly?
A major grocery store chain based in Europe but with U.S. connections is grappling with a case of accounting irregularities. The apparent “Rob Peter to Pay Paul”-style accounting has surfaced at Tesco, the British grocery store company that started Fresh and Easy in the U.S. and has global sales that are often second only to Walmart. A Tesco whistleblower is helping authorities with the investigation. Plus, an estimated 310,000 people took to the streets in New York City on Sunday, calling for policy action on climate change. The demonstration aimed to draw the world’s attention to the issue, with United Nations Climate Change Summit kicking off tomorrow. And we have entered the autumn, and it’s later this fall when policymakers at the federal reserve are set to taper away their stimulus. This is the extraordinary bond-buying designed to keep the U.S. economy flush with cash as we moved out of the financial crisis. As the special bond buying comes to an end, it’s is a useful moment to think about alternatives for next time. The next time a country needs emergency stimulus, instead of central bank bonds, how about if the government just hands out cash, right and left, willy nilly?
