May 12, 2010

Marketplace Morning Report for Wednesday, May 12, 2010

Segments From this episode

Senate to unveil climate change bill

by Nancy Marshall-Genzer

May 12, 2010

Senators John Kerry and Joe Lieberman unveil an energy and climate bill today that includes a federal mandate for renewable energy. But Senate leaders want to scale down the bill as it lacks Republican co-sponsors. Nancy Marshall Genzer reports.

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Cameron heads new U.K. coalition government

by Stephen Beard

May 12, 2010

New Prime Minister David Cameron and Deputy Prime Minister Nick Clegg began work today heading the U.K.'s first coalition government since World War II. Steve Chiotakis and Stephen Beard explore possible points of friction between the two ruling parties.

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Minnesota court tries Wells Fargo investing

by Marketplace Staff

May 12, 2010

A trial in Minnesota is testing whether Wells Fargo owes its clients for getting them into risky investments. Jeff Horwich reports.

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Facebook Privacy

Facebook to take over location-based marketing

by Janet Babin

May 12, 2010

Location-based marketing is fast becoming a pivotal next step for the social media-aware business. And when Facebook unveils its new service, it'll be the biggest player in the market. Janet Babin reports.

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BP Spill: Ripples

BP oil spill hearing moves to House

by John Dimsdale and Stacey Vanek Smith

May 12, 2010

The House of Representatives will hear testimony from oil executives who shared responsibility in the BP oil rig disaster. John Dimsdale covers the finger-pointing and a proposed $10 billion liability cap.

Transocean President and CEO Steven Newman, right, testifies with BP America Chairman and President Lamar McKay, left, during a Senate hearing over who's to blame for the Deepwater Horizon explosion.

Chip Somodevilla/Getty Images

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FDIC wants 'living will' for banks

by John Dimsdale

May 12, 2010

The Federal Deposit Insurance Corporation wants to require the country's 40 largest banks to create a living will in case they run into financial problems. But some worry these wouldn't have much of a shelf life. John Dimsdale reports.

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China talks raising interest rate on inflation concerns

by Scott Tong

May 12, 2010

Gas, food, and consumer prices are up enough in China to have investors concerned about the possibility of another bubble. A Chinese central bank advisor wants to reduce the risk of inflation by raising interest rates. Scott Tong reports.

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Why not woo the masses to mass transit?

by Steve Chiotakis

May 12, 2010

As gas prices go up in the summer, you might think transit systems would take advantage of people wanting to flee their cars. But Los Angeles Times columnist David Lazarus says not enough is being done get more people to use public transportation.

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Did Morgan Stanley mislead clients too?

by Marketplace Staff

May 12, 2010

Federal prosecutors are looking into whether Morgan Stanley bet against its investors and misled clients about derivatives deals. Wall Street Journal reporter Amir Efrati talks the details with Stacey Vanek-Smith.