Business/Economy

Business and economic news

Third time was the charm

Jul 27, 2016
billclinton.jpg
Andrea Seabrook, Gina Delvac, Nancy Marshall-Genzer, Kim Adams and Bridget Bodnar

Former President Bill Clinton gave a speech typical of a presidential spouse on Tuesday, revealing that he had proposed to Hillary Clinton three times. We take a look at whether Bill Clinton is an asset or liability for Hillary when it comes to the economy, and also chat with some workers behind the scenes at the Democratic National Convention to find out the economic issues that are on their minds.

Third time was the charm

Jul 27, 2016
billclinton.jpg
Andrea Seabrook, Gina Delvac, Nancy Marshall-Genzer, Kim Adams and Bridget Bodnar

Former President Bill Clinton gave a speech typical of a presidential spouse on Tuesday, revealing that he had proposed to Hillary Clinton three times. We take a look at whether Bill Clinton is an asset or liability for Hillary when it comes to the economy, and also chat with some workers behind the scenes at the Democratic National Convention to find out the economic issues that are on their minds.

Cruising for a purpose: have fun AND do good

Jul 27, 2016
Cruise%20photo%204.jpg
Allison Keyes

Cruises are big business these days. Cruise Market Watch estimates the worldwide cruise market at $39.6 billion for 2015.

But some passengers are looking for more than casinos and fancy shore excursions. Carnival Corporation’s new brand, Fathom Travel, is seeking to tap into a growing market with its social impact cruises to the Dominican Republic and cultural immersion cruises to Cuba.

pensions_1.jpg
Amy Scott

Public pensions are having a rough time of it. Retirement plans for public employees, like teachers and police officers, are facing a $1 trillion funding gap. Meanwhile, large U.S. pensions are expected to report their worst long-term results in 15 years.

The amount of oil in the world is a mystery

Jul 27, 2016
oil_7.jpg
Scott Tong

Later this week Shell and Exxon report earnings, and a big question is: Where will wobbly oil prices go next? It’s a matter of global demand and supply – as well as an important factor of how much oil is being stored around the world.

For more than a year, the world has been working off an oil glut. Now, some of that surplus has gone into storage caverns and containers around the world. That has helped keep crude prices soft. Exactly how much is in storage is a bit of a mystery.

The looming L-pocalypse

Jul 26, 2016
GettyImages-460788302.jpg
Sally Herships

Hipsters beware. The L-pocalypse is close at hand. But it's not just the young and bearded who will be inconvenienced. Almost no one is looking forward to the New York transit authority's plan to shut down the L subway line for repairs. Just ask 38-year-old Brooklyn resident Kevin Lin.

“I’m going to move,” he said while standing on the L train platform at the 14th Street/Union Square station.

Marketplace for Tuesday, July 26, 2016

Jul 26, 2016
GettyImages-460788302.jpg
Sally Herships

Facebook has pledged to build 1,500 units for general public housing in response to major housing shortages in Silicon Valley; New York City's Metropolitan Transit Authority announced plans to shut down the L train for 18 months to repair damage from Hurricane Sandy; and why New York City may be at risk of losing its title as the world's financial capital.

Marketplace Tech for Tuesday, July 26, 2016

Jul 26, 2016
wasserman.jpg
Marketplace

On today's show, we'll talk about Apple's anticipated earnings report; the possibility that Russia may have been behind the hack on the Democratic National Committee; and a rise in the number of young travelers. 

Starbucks loosens up its dress code

Jul 25, 2016
GettyImages-517094382.jpg
Kai Ryssdal

Changes are coming to your local Starbucks.

The company's out with a new dress code. There's an official lookbook and everything, in which we learn hair coloring is now OK, fedoras are fine but not bucket hats with patterns, slouchy ski caps yes — but not if they have a pompom.

Shorts work, but not leather pants.

Socks with a pop of color are fine, but not if they distract from your outfit.

What would replace the WTO if Trump got rid of it?

Jul 25, 2016
GettyImages-580949570.jpg
Nancy Marshall-Genzer

Donald Trump is making more news on the trade front. On "Meet the Press," he threatened to pull the U.S. out of the World Trade Organization. 

There’s a problem with that. The WTO is the place the U.S. goes to block unfair trade practices, like the ones Trump complains about. 

On "Meet the Press," Trump called the WTO a "disaster.” But it turns out, the U.S. has had pretty good luck using the WTO to block China. 

flags_0.jpg
Mark Garrison

The U.K.’s vote to leave the European Union is raising questions about how America’s business ties with Britain may change.

We wanted to talk about the issue with Antonia Romeo, the U.K.'s new Consul General in New York and the Director General of Economic and Commercial Affairs USA. A big part of her new job is keeping ties with the American business community strong, which has created new challenges following the Brexit vote. 

On starting her job under different circumstances than she might have expected:

On today's show, we'll assess where the economy seems to be heading; Congress' decision to pass a bill that would require GMO labeling on food packaging; and caution from corporations about making financial commitments to this year's political conventions. 

Bank earnings show higher lending at lower rates

Jul 15, 2016
wellsfargo_1.jpg
Amy Scott

Banks are the name of the game Friday, as Wall Street digests quarterly earnings news from Wells Fargo, Citigroup and others. Citi beat analyst expectations, though profit fell by 17 percent from a year ago to $4 billion. Wells Fargo's net income fell to $5.6 billion, down from $5.7 billion in the second quarter of 2015.

The announcements follow Thursday’s better-than-expected report from JPMorgan Chase. After a rocky first quarter for many banks, JPMorgan made $6.2 billion in the second quarter, fueled by strong trading profits and growth in lending.

Bill to require GMO labeling passes Congress

Jul 15, 2016
gmolabeling.jpg
Lane Wallace

A bill that would require some sort of GMO labeling on food packaging is headed to President Barack Obama’s desk after years of wrangling, and many say it’s a fair compromise.

But passing the bill doesn’t end the debate over how to signal when foods have genetically modified ingredients.

The federal bill would override a labeling law that just went into effect in Vermont.  

Visual effects in 'Ghostbusters': 1984 and today

Jul 15, 2016
ghostbusters.png
Adrienne Hill

It’s been more than 30 years since we saw Bill Murray get slimed in the original "Ghostbusters."

 The new "Ghostbusters" movie opens around the country today—with a new story, new actors and new visual effects.

The reboot got us wondering about how visual effects have changed in the three-plus decades since the original was released.

Cleveland increases its protest insurance

Jul 15, 2016
convention_0.jpg
Mitchell Hartman

Republican politicians and delegates, media and political paraphernalia vendors, and Donald Trump supporters and protesters are all headed to Cleveland, Ohio for the GOP convention that kicks off on Monday.

For the city of Cleveland and its police department, the convention is a logistical challenge and also a financial risk-management challenge. The city recently approved increasing its liability coverage, purchasing $50 million worth of “protest insurance” for $9.5 million. The city initially had lined up $10 million worth of protest coverage for $1.5 million.

money_6.jpg
Marketplace

On today's show, we'll talk about Cleveland's decision to boost its insurance policy as the GOP convention approaches; China's shift away from an economy based on heavy investment; and America's business ties with the U.K.

Marketplace Tech for Friday, July 15, 2016

Jul 15, 2016
ghostbusters.jpg
Marketplace

On today's show, we'll talk about visual effects in the "Ghostbusters" franchise; play this week's Silicon Tally with Backchannel's editorial director, Jessi Hempel; and the use of emojis in Venmo payments.

france_0.jpg
Marketplace staff

From our partners at the BBC:

At least 84 people have died, including children, after a lorry slammed through a crowd celebrating Bastille Day in the southern French city of Nice.

The driver ploughed on for 2km (1.2 miles) on the Promenade des Anglais at about 23:00 local time, before being shot dead by police.

Witnesses say the speeding lorry swerved and zigzagged in an apparent attempt to hit more people.

GettyImages-538716450_0.jpg
Kai Ryssdal

No matter how you feel about her, you're gonna have to admit Hillary Clinton made a pretty good joke today.

At a rally in Virginia, the all but certain Democratic nominee tapped into "Pokémon Go," the cultural phenom of the moment:

The middle class vacation squeeze

Jul 14, 2016
GettyImages-146575166.jpg
Marketplace

Sara Williams, 30,  has not taken a vacation of one week or longer in more than five years.

She's among those who participated in the Marketplace-Edison Research poll. She's a military veteran married to a veteran; they both attended Colorado State University on the G-I bill. They have since settled down in Fort Collins — a cozy college town at the foothills of the Colorado Rockies. They both found jobs after graduating: she is an office administrator, he is a software engineer.

GettyImages-547085506.jpg
Donna Tam

Oh, “Pokémon Go.” Will brands ever stop loving this game?

In a grab for consumers, T-Mobile announced Thursday it won’t charge customers for data used while playing “Pokémon Go.”

Marketplace for Thursday, July 14, 2016

Jul 14, 2016
GettyImages-146575166.jpg
Marketplace

Oil producers are using more efficient technology that allows them to make a profit drilling for oil when the price is as low as $60 a barrel; Our latest economic anxiety poll found nearly 25 percent of people said its been more than five years since they took a week-long vacation; and Larry Wilmore, host of The Nightly Show about the 2016 election and how he covers politics on his show.

GettyImages-71963535.jpg
D Gorenstein

It looks like health spending will continue to gobble up more and more of the economy.

That’s according to a new report this week from federal health officials in Washington who project by 2025, one-fifth of our economy will be devoted to this sector.

GettyImages-459885866.jpg
Donna Tam

New Orleans prosecutors will soon be able to search through police body camera footage for specific people or incidents, cutting down on the time required to comb through hours of video.

The Orleans Parish District Attorney’s office is adopting a technology that organizes footage by analyzing video frames for faces, text and audio, and tags and adds time stamps to the files’ metadata, the company behind the technology announced Thursday.

On today's show, we'll talk about economic uncertainty and the Fed's future plans; the popularity of messaging app Line; and India's relationship with gold. 

hot.jpg
Tony Wagner

The emoji-friendly messaging company Line started trading on the New York Stock Exchange Thursday morning, opening at $42 a share— nearly 30 percent more than its initial offering of $32.84.  It closed at $41.58, giving it a market value of around $8 billion. 

NYS investing in next generation of farmers

Jul 14, 2016
Sarah Ficken / New Moon Farms

The average age of the American farmer is continually rising; it is 55 in New York State. In response, many states are crafting legislation aimed at encouraging a new generation to take the reins, like Chris and Sarah Ficken, owners of the New Moon Farms in Munnsville, New York.

foreclosure_3.jpg
Lane Wallace

New foreclosure data out Thursday from research firm RealtyTrac show foreclosures are down, but there are still some rough spots. The first six months of 2016 saw 11 percent fewer filings than the same period last year, and the month of June saw a 10-year low.

Gold's popularity in India

Jul 14, 2016

Whether it's at weddings, festivals or religious ceremonies, gold is extremely popular in India. It's thought that about 20,000 tons are stashed away in homes, businesses and temple vaults. Now the government is offering incentives to get some of that gold back into the economy. 

Click the above audio player to hear the full report from the BBC's Shilpa Kannan.

Pages