Business news

Tony Wagner

Kim Adams

The website DraftKings just secured $300 million in funding, with investors including Fox Sports, Major League Baseball and Major League Soccer. The site allows people to play and bet on daily fantasy games in several different sports. Earlier this month, FanDuel, another daily fantasy site, raised $275 million.

Fox Sports was the lead investor, and the deal includes a commitment by DraftKings to spend $250 million advertising on Fox over the next three years.

Political ads mean big bucks for television stations

17 hours ago
Kai Ryssdal and Tommy Andres

Steven Shepard of Politico says we can look forward to tons of television advertisements this presidential election season.

“Campaign advertising in 2016 is estimated to top about $4.4 billion," he says. "That combines the advertising run by the campaigns and the candidates themselves, and also the growth of super PACs in the post-Citizens United era. It is $500 million more than was spent in 2012, in the last presidential election." 

Even though younger generations use the internet to get most of their information, ads are still primarily focused on television.

New York to rebuild LaGuardia Airport

17 hours ago
Kai Ryssdal

Here's some great news and terrible news for the flying public: New York Governor Andrew Cuomo said he's going tear down LaGuardia Airport.

Tear it right down — and rebuild it.

They're going to break ground on the first bit early next year, and it's going to take just more than three years and $4 billion for a new Central Terminal.

Great — eventually. But can you imagine the delays?

Crude oil is plunging ... again

17 hours ago
Kai Ryssdal and Scott Tong

A barrel of American crude is selling for less than $50 once again; a year ago the price was north of $90.

The bear market for oil production is a reaction to an unexpected glut, Marketplace's Scott Tong says. Last year, when OPEC signaled that it wouldn't cut the U.S. supply, oil producers all over the world kept pumping, he says. U.S. shale oil production keeps going, despite fracking. Saudi Arabia has record levels and Iraq oil is back "in a big way." Iranian could re-enter the market because of the potential lifting of sanctions.

Marketplace for Monday, July 27, 2015

17 hours ago

Airing on Monday, July 27, 2015: The fantasy sports website DraftKings has raised $300 million in new funding. Investing in these virtual leagues is becoming a way for TV sports networks to cash in on live programming and expand their footprint. Plus, the tech startup boom has come to cities like Venice and Santa Monica in what's come to be called Silicon Beach. We look at what the Southern California tech world has to offer. 

What's Silicon Beach?

18 hours ago
Marketplace staff

We've heard of Silicon Valley and its New York counterpart, Silicon Alley, but there's a growing group of startups based out of Venice — a.k.a. Silicon Beach. We traveled down there to talk with a few CEOs about the Los Angeles–area tech scene, and we'll be airing those conversations through the rest of the summer. Here's a preview. 

Where you live will cost you

Jul 27, 2015
Tobin Low and Janet Nguyen

Conventional thinking might lead us to believe that people who reside in cities with higher living expenses probably also have the highest debt burdens. But residents of the City by the Bay have the least credit card burden of any major metropolitan city, according to a new study by

PODCAST: Biting the hand that feeds you burritos

Jul 27, 2015
David Brancaccio

More on news that Fiat Chrysler will offer to buyback hundreds of thousands of Ram Pickup trucks. Plus, what to expect to from the Federal Reserve Open Market Committee briefing on Wednesday. And thousands  of workers in lawsuits in several states allege Chipotle’s “moral high-ground” doesn’t extend to its cooks, cashiers and managers. The cases against Chipotle are part of a national trend of workers turning to federal courts to recoup wages.

Underwater homeowners look for mortgage relief

Jul 27, 2015
Nancy Marshall-Genzer

JoAnn Henderson bought her house New Carrollton, Maryland, in 2001. She refinanced a few years later for a higher amount. Shortly before she retired from her teaching job, she started having trouble with the steep payments.

“You would miss a couple and then you’d pay and pay and pay," she says. "And then you’d miss a couple more. Yeah — I almost lost the house.”

Henderson got a loan modification, which dropped her interest rate to 3 percent. Now she’s even got a rainy day fund.

“A tiny one," she says, laughing. "Not a big rain. A small rain.”

How Amazon can be worth the same as Wal-Mart

Jul 24, 2015
Scott Tong stocks rocketed up 10 percent Friday after the company reported quarterly profits to the surprise of many analysts’ expectations. Amazon’s market value – the price if you wanted to buy the whole company – is nearly that of Wal-Mart, even though Wal-Mart makes 35 times the profit of Amazon today.

Investors, though, are betting on what happens tomorrow. Piper Jaffray analyst Gene Munster figures Amazon added 20 million Prime members this year; those are the website shopping addicts who pay $99 for a year’s free shipping and other perks.

Kai Ryssdal

Joining us to talk about the week's business and economic news are the Washington Post's Catherine Rampell and Cardiff Garcia of FT Alphaville. The big topics this week: Hillary Clinton's speech on the "tyranny" of quarterly earnings reports, healthcare mergers and a decline in commodities' prices. 

Marketplace for Friday, July 24, 2015

Jul 24, 2015

Airing on Friday, July 24, 2015:  Amazon reported earnings yesterday, and its stock price soared. Today it has a market value very similar to that of Wal-Mart. Yet Amazon’s quarterly profit was only a fraction of Wal-Mart's. How can that be? Marketplace explores. Plus, lots of people on the parched West Coast are hoping that predictions of a strong El Niño this winter will prove correct, because a season of hard rain is needed. Others remember El Niño as just that — a season of hard rain — and are concerned about a winter of floods and mudslides.


El Niño: Be careful what you wish for

Jul 24, 2015
Adam Allington

Lots of people along the West Coast are hoping that predictions of a strong El Niño this winter will prove correct, because a season of hard rain is needed.

But even if a season of rain does provide some relief for western states, banking on El Niño to fix what amounts to a four-year drought is problematic for a lot of practical reasons.

CFO's rise beyond the balance sheet

Jul 24, 2015
Nancy Marshall-Genzer

The job of chief financial officer has expanded dramatically over the past 15 years — they’re not just accountants anymore. 

Not that CFOs are complaining.

“Thank goodness I’m not just sitting behind a desk with a calculator,” says Vincent Burchianti, CFO of Firehouse Subs

When Burchianti started his accounting career in 1991, CFOs just did the books, but now they’re also involved in strategy. Burchianti works closely with Firehouse’s CEO Don Fox.

A dim law? Imagine Times Square without billboards

Jul 24, 2015
Julia Longoria

If you had to classify the streets that run through Times Square — Seventh Avenue and Broadway— what would you call them? Streets? Avenues? "Principal arterials," perhaps?

If you guessed the last answer, you must be up on your transit taxonomy.

Marketplace Weekend Staff

Robots are coming! Do they save you money? Or time? Are they intelligent? Where are they filling in the gaps, and when are they not good enough?

What would you never trust a robot to do?

We want to hear your stories. Send us an email or reach us on Twitter, @MarketplaceWKND

Housing is up and down, but mostly up

Jul 24, 2015
Mitchell Hartman

With summer, the housing market has been warming up. According to the National Association of Realtors, existing home sales were up 3.2 percent in June, on top of strong sales in April and May, to a level not seen since early 2007. June’s new home sales figures were disappointing, with sales down 6.8 percent month-to-month.

PODCAST: Housing sales for June

Jul 24, 2015
David Brancaccio

The June report for new home sales is out today - we'll talk about what to expect. Plus, we'll talk about what to make of recent movement in the Chinese stock market. And President Obama arrives in Kenya on Friday for a three-day visit. It's his first trip to the country where his father was born since he was elected. The visit is bringing a mini-economic boost for some Kenyans.

Affordable housing for teachers in short supply

Jul 24, 2015
Aaron Schrank

Jennifer Marlar teaches seventh grade language arts at Jackson Hole Middle School in Jackson, Wyoming, but she doesn’t live anywhere near the tourist town’s shopping district or ski area.

“It just makes the most sense, financially,” Marlar says.

Instead, she commutes one hour — over a sometimes-treacherous mountain pass — from her home in Driggs, Idaho.

“It’s brutal,” says Marlar. “And that hour feels like eternity.”

Kenyans hope to cash in on Obama visit

Jul 24, 2015
Kim Adams

During his first trip to Kenya as president, Barack Obama is expected to discuss ways to fight regional terrorism with with the countries leaders and speak at the Global Entrepreneurship Summit in the capital, Nairobi.


Airing on Friday, July 24, 2015: With President Obama arriving in Kenya on Friday, we'll cover how the visit is bringing a mini-economic boost for some Kenyans. Next, a check in on the burgeoning refugee crisis in Syria. We'll talk about how the Office of the United Nations High Commissioner for Refugees deals with a recurring problem: donors who don’t pay what they promise. We'll also talk about how a lack of affordable housing is making it difficult for schools to recruit and retain quality teachers.

Marketplace Tech for Friday, July 24, 2015

Jul 24, 2015

Airing on Friday, July 24, 2015: First up, we'll talk with Marketplace’s Adriene Hill about Hollywood's many failed video game tie-ins. And how well have you kept up with the week in tech news? It's time for another installment of Silicon Tally. Marketplace's Molly Wood will try to stump Tom Merritt, host of the Daily Tech News Show, with numbers from the week's tech news.

States wavering on standards for renewable energy

Jul 24, 2015
Adam Allington

Thanks to the ready availability of natural gas, some states are considering freezing, rolling back or eliminating Renewable Portfolio Standards — standards that tell utilities how much of their electricity has to come from renewable sources. Roughly 30 states have such guidelines. Back when many of these standards were put in place, they were seen as a way to hedge against the uncertainty of fossil fuels.

The Konami Code for vintage gamers

Jul 23, 2015
Adrienne Hill and Tommy Andres

Even though it’s been years since arcades reached their peak of the '80s, there’s still a fondness for the classics. Whether it’s Pac-Man, Donkey Kong or Galaga, old-school arcade games still have an audience.

One store that celebrates that love is the Vintage Arcade Superstore in Glendale, California.

Gene Lewin is the owner. At the store he sells everything from pinball to Pong. He says his love for all things retro and arcade began when he was young.

The changing platform for YouTube stardom

Jul 23, 2015
Adrienne Hill

YouTube is growing up, and the line between YouTube stars and celebrity is becoming blurrier. Thousands of screaming fans are out in force at VidCon, a conference for online video makers in Anaheim, California, on Thursday.

Freddie Wong will be among them. His YouTube channel, RocketJump, has more than 7 million subscribers, and he is one of the latest YouTube stars looking to move their production off YouTube.

HBO picks up former ESPN host Bill Simmons

Jul 23, 2015
Adrienne Hill, Mukta Mohan and Bridget Bodnar

ESPN has parted ways with a lot of its big-name talent recently, including Bill Simmons, whose contract was not renewed back in May. Simmons has landed at HBO, where he'll host a weekly talk show and work on sports documentary projects.

Marketplace for Thursday, July 23, 2015

Jul 23, 2015

Airing on Thursday, July 23, 2015: Health insurance giants Anthem and Cigna are closing in on a $48 billion merger, just days after Aetna announced plans to acquire Humana for $37 billion. These deals could help insurers navigate the changes brought about by healthcare reform, but how will they affect consumers? Next, it's not easy doing business in China these days, with the stock market and property values falling. U.S. companies are having to adapt to a more mature Chinese economy.  

D Gorenstein

Health insurer Anthem appears ready to throw down nearly $50 billion to purchase rival Cigna. This would be the second proposed mega-merger in the industry in less than a month.

Welcome to healthcare’s version of an arms race, where hospitals and insurers vie for supremacy. As these titans battle it out, the threat is that consumers end up losing no matter who winds up on top.

Carnegie Mellon economist Martin Gaynor says there’s a simple question we shouldn’t lose sight of in this new wave of potential deals.

“Are these mergers going to make us better off?” he asks.

Sam Beard

A Greek exit from the eurozone has been averted – for now at least-  but another , even bigger crisis for the European Union  is still waiting in the wings:  not Grexit  but Brexit,  a British exit from the EU.

Over  the next 18 months the United Kingdom will attempt to negotiate an even looser arrangement with the EU than Britain currently enjoys   and then to hold a referendum asking the British people, “Do you want in or out?" 

"Out" campaigners believe that the treatment of Greece has given their cause a major boost.