May 3, 2011

Marketplace Morning Report for Tuesday, May 3, 2011

Segments From this episode

Swipe fee fight bristling with lobbyists

by John Dimsdale

May 3, 2011

As Congress comes back next week, the issue with the most lobbyists isn't the deficit -- it's the battle against debit card swipe fees.

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Japan's quake

Japan's down payment on reconstruction spending

by Scott Tong

May 3, 2011

Japan's parliament this week approved a $30 billion reconstruction spending package, but the total bill is estimated at $300 billion.

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Japanese tourism lags

by Ann Dornfeld

May 3, 2011

The earthquake in Japan has caused a drag on the planeloads of tourists the country sends to the U.S. every year.

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The differences in growth between the stock market and the economy

by Stacey Vanek Smith

May 3, 2011

Fortune Magazine's Allan Sloan discusses how a growing stock market doesn't equal a growing economy.

Traders work on the floor of the New York Stock Exchange in New York City.

Mario Tama/Getty Images

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Army engineers blast Missouri levee to save town

by Nancy Marshall-Genzer

May 3, 2011

In an effort to divert rising floodwaters, the Army Corps of Engineers created large holes in a levee along the Mississippi River. The move could flood up to 130,000 acres of viable farmland.

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Sony hacks affect 100 million users

by Marketplace Staff

May 3, 2011

Sony announced last week that the private information of 77 million PlayStation users may have been compromised by hackers. Now, as many as 24.6 million accounts on Sony's Online Entertainment division could be affected as well.

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China's largest social network to launch IPO in U.S.

by Rob Schmitz

May 3, 2011

Renren, China's largest social network, is going public today in the U.S. The company has been called "the Facebook of China" but there's stiff competition from a slew of other social networks in the country.

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Added tax revenues to delay debt crisis

by Nancy Marshall-Genzer

May 3, 2011

U.S. Treasury Secretary Timothy Geithner said unexpected tax revenues and emergency steps to free up funds will allow the government to avoid hitting the debt ceiling until August 2nd.

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Missouri flood control threatens farmland

by Marketplace Staff

May 3, 2011

The Army Corps of Engineers has created a large hole in a Missouri levee to regulate potential flooding of the Ohio River. Mississippi, Missouri county clerk Hubert Delay explains what this means for his county's economy.

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Breaking down the 'Brave New World' for automakers

by Marketplace Staff

May 3, 2011

For the first time in nearly seven years, Detroit's Big Three carmakers are all reporting a profit, despite supply chain disruptions.

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U.S. goes to court over Deutsche Bank home loans

by Marketplace Staff

May 3, 2011

The Justice Department has sued Deutsche Bank over allegations that the bank repeatedly committed mortgage fraud. Courtney Comstock with Business Insider explains.