National/International

Trump wants OPEC to keep oil prices down

Sep 21, 2018

The countries that make up OPEC as well as Russia and other oil-producing allies will meet this weekend in Algeria. On the agenda: Upping supply. On Thursday, President Donald Trump tweeted, "We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices! We will remember. The OPEC monopoly must get prices down now!"

Dodd-Frank: After the crisis, what's next?

Sep 21, 2018

(U.S. Edition) OPEC countries along with Russia and other oil producers are going to be meeting in Algeria this weekend, and one of the items on the agenda is increasing supply. Then, we discuss more with Chris Dodd and Barney Frank, the two Democratic lawmakers who pushed the epic financial reform law through Congress during the Great Recession. We talked about what worries they have when it comes to the next frontiers in regulation, among other things.

(Global Edition) From the BBC World Service …  China has warned the U.S. there will be "consequences" if the U.S. does not withdraw the latest sanctions it has imposed on China's military – over defense and military deals it struck with Russia. In a blow to Indonesia's huge palm oil industry, the Economy Ministry has extended a ban on new factories, continuing to blame the sector for environmental damage. Dockless bike sharing schemes seem to work in China, so we find out why not so much in Europe or the U.S.

What else can Big Data do? Pick stocks.

Sep 21, 2018

This week, we've been covering how technology has changed investing and will continue to do so. And it's perhaps no surprise that the conversation leads us to artificial intelligence. A Wall Street industry poll earlier this year said a majority of hedge funds are now using artificial intelligence and machine learning to help them make trades. These huge quant funds are even fighting Google and Facebook for engineers to crunch tons of data and build algorithms to predict the next great stock buy. This has all made markets faster, more efficient and more accessible to online investors.

Cecile Richards is one of the most powerful, accomplished, activist leaders of her generation. She helped her mother, Ann, get elected governor of Texas, she was a labor organizer for migrant women, and she was the president of Planned Parenthood for over a decade. She’s also a serious cook and baker with an intense passion for pies and Southern food. Richards talked with Francis Lam about the ways in which food bridges the divide we often feel in politics, and passed down to Francis three essential skills in cooking.

At the China International Industry Fair in Shanghai this week, thousands of booths were displaying their shiny industrial robots.

The United States has announced that it will implement a 10 percent tariff on $200 billion worth of Chinese goods starting Sept. 24. Despite this, the mood among many manufacturers at the fair remained upbeat.

For some, it may be because they have alternate markets.

When did you realize we were in a financial crisis?

Sep 20, 2018

2018 marks ten years since the financial crisis and Marketplace is exploring how the shift in the economy then continues to shape our lives today.

Through our series Divided Decade, people from all over the country have shared their stories from the Great Recession.

(Markets Edition) The Dow and S&P experienced record highs Friday, which might come as a surprise given the nature of the trade relations between the United States and China. We talk to economist Diane Swonk to make more sense of it. Then, we have a lot more with former senator Chris Dodd and former congressman Barney Frank, the duo who pushed through the huge financial reform law that bears their name.

It was a promise made in January of 2017 during a meeting with newly elected President Donald Trump. Jack Ma, the founder of Chinese online retail giant Alibaba, pledged his company would bring a million jobs to the United States by 2022. Now Ma is dialing that back.

At a two-day event bringing together Alibaba's investors, Ma told the Chinese news website Xinhua that the promise "was made on the premise of friendly U.S-China partnership and rational trade relations. That premise no longer exists today, so our promise cannot be fulfilled."

(Global Edition) From the BBC World Service … One of China’s biggest technology startups – dubbed the country’s Amazon for services – jumped more than 7 percent in its trading debut on the Hong Kong stock exchange after raising more than $4 billion dollars in its initial public offering. Then, global growth is forecast to plateau at just under 4 percent this year and next. We’ll talk to the OECD’s chief economist in Paris who says the biggest concern is trade.

Bonus: the Dodd-Frank interview, part 1

Sep 20, 2018

We'll be back with your regularly scheduled Morning Report soon, but right now we're bringing you part one of our interview with Barney Frank and Chris Dodd, the former lawmakers behind one of the country’s largest financial reform bills. In a rare joint interview we're calling "The Politics of Crisis," they talk about their biggest regrets, why there won’t be any more bailouts and why they’re not worried about major rollbacks to Dodd-Frank.

Check back here for part two tomorrow. 

(09/20/18)

If the terms of your student loan agreement suddenly look different, if your bank opens a fake account in your name, or if your credit report is inaccurate, there’s a place that was specifically made for you to complain about that.

The Consumer Financial Protection Bureau, now also known as the Bureau of Consumer Financial Protection, has a submission portal that allows you to report an issue you’re having with a financial service or product.

We’re continuing our look at how technology is impacting Wall Street this week. Today, we explore how the tech industry is starting to question the whole idea of Wall Street.

The tech industry isn't always a big fan of the whole becoming-a-public-company process. Companies like Google, Facebook and most recently Spotify have tried disrupting initial public offerings with different share classes and direct listings. Then there's just deciding not to go public.

Francis Lam inherited a chunk of puer tea from his grandfather nearly 25 years ago and has never tasted it, partly because he wasn't sure how to properly serve the tea in order to pay the full respect to boty the tea leaves and his grandfather. Recently, he took the tea to tea expert Tim Hsu. Tim showed Francis how to prepare the tea so that you can appreciate the many layers of aroma and flavors. Tim was also able to tell Francis more about of story of where the heirloom tea likely came from as they both tasted it for the first time in a peaceful and somewhat emotional setting.

When an economy needs refugees

Sep 19, 2018

The White House said this week it will cut the number of refugees allowed into the country to 30,000 next year from the 45,000-person limit for 2018. That's a record low for the United States, which worries many local economies that depend on immigrant and refugee labor. Erie, Pennsylvania, is one of those places. The city strategically welcomed and resettled refugees when the population was shrinking and jobs were disappearing.

There was some big news this week in the auto and tech industries, which are increasingly overlapping. The world's largest automotive partnership, the Renault-Nissan-Mitsubishi Alliance, which sold more than 10 million cars around the world last year, is going to start embedding Google's Android operating system in its cars starting in 2021.  The promise for consumers?  Infotainment systems that do more and are less, shall we say, buggy. 

Click the audio player above to hear the full story. 

The bill that gives a nod to federal aviation spending over the next five years passed the U.S. House but has yet to take flight in the Senate. The Federal Aviation Administration reauthorization bill includes changes to airline ticket fees, and safety upgrades. But critics say the bill falls short in one area: improving the nation's air traffic control system, which they say is under strain as the industry expands to accommodate more and more passengers. Commercial air carriers have been pushing to move the nation's air traffic control system from radar to GPS.

When it comes to tariffs, consider today T minus five. In five days, more than 5,000 types of goods from China will be added to a list of tariffs imposed by the United States. That likely means higher prices for leather handbags. Fruit juice. Rain jackets. We may be surprised by what's on the list. But here's the thing: Lots of American factories will be surprised, too. Because in a world of supercomplex global supply chains, manufacturers don't always know what's in their own products.

Click the audio player above to hear the full story. 

NerdWallet is changing how we shop for financial products

Sep 19, 2018

NerdWallet is the personal finance website that helps consumers find, review and compare financial products. It's like a matchmaker between bank services and customers. The site uses more than 300 journalist and financial experts to provide details on credit cards, personal loans, taxes — anything money related.

Canada is in no rush to join a new NAFTA deal

Sep 19, 2018

Canadian Foreign Minister Chrystia Freeland meets with U.S. Trade Representative Robert Lighthizer in the latest round of North American Free Trade Agreement negotiations on Wednesday. This comes a month after the United States and Mexico stuck a preliminary deal. But there are still some sticking points that need ironing out before Canada is ready to sign on to new agreement. 

Click the audio player above to hear the full story. 

NerdWallet wants to help you with finance

Sep 19, 2018

It started with a simple Google search to compare credit cards, but when nothing helpful turned up, an idea was born. Tim Chen is the founder and CEO of NerdWallet, a financial advice website with more than 100 million yearly users. While struggling to compare credit cards online, he got the idea for a website with all types of financial advice and products. He told Kai Ryssdal that the idea resonated with millennials because “millennials are just used to comparing things. Even college professors.”

(Markets Edition) Early Wednesday trading witnessed a 126-point rise for the Dow, along with a boost for one of the benchmarks of U.S. interest rates. We check in with a market analyst for more. Then, we talk to the two people responsible for spearheading the big financial reform law in Congress, 10 years after the collapse of Lehman Brothers and the following financial crisis: Former Congressman Barney Frank and former Sen. Chris Dodd.

The Source Code: Brad Katsuyama

Sep 19, 2018

When the financial crisis of 2008 hit, Brad Katsuyama worked on Wall Street as an investor for the Royal Bank of Canada. For some time, he'd noticed odd trends in the way his trades were executed and traced the cause back to the growing influence of high-frequency trading and its growing influence on the stock market. Looking for ways to counter the influence of HFT, he and his partners created IEX, Investors Exchange, in 2012.

(U.S. Edition) The top trade officials for U.S. and Canada are back at the negotiating table for the NAFTA overhaul a month after the U.S. and Mexico ironed out a preliminary deal. We look at what it might take for Canada to get on board. Also, this week, we’re 10 years away from the financial crisis that erupted after the collapse of Lehman Brothers. We talked to the two people who pushed the massive financial reform law through Congress: Former Congressman Barney Frank and former Sen.

China defends retaliation to U.S. tariffs

Sep 19, 2018

(Global Edition) From the BBC World Service … At the world economic forum in China, officials on Tuesday morning defended the country's economic policies after the latest round of tariffs with the U.S. Liberia – the west African country founded by freed American slaves – has launched an investigation to trace $100 million worth of newly printed notes that have vanished. Sri Lanka's Hambantota port cost about $1.5 billion, but already the country is concerned it will not be able to pay back the money it borrowed from China to build it.

The business case for a stock market speed bump

Sep 19, 2018

Marketplace Tech is exploring investment technology as part of the Divided Decade project on the financial crisis of 2008. Brad Katsuyama started a new stock exchange, IEX, in 2012, with an aim to neutralize some impacts of high-frequency trading.

Tesla said on Tuesday it was complying with a Justice Department request for documents, in connection with Chief Executive Elon Musk's announcement that he was taking the publicly traded company private.

Taking care of the kitchen that takes cares of you

Sep 19, 2018

The kitchen is an important room in our homes: a place of joy, solace and comfort. Yes, it can be chaotic from time to time, but more often than not, what we find there is peace in the form of the food we cook, the ingredients we cook it with, and the equipment we use. Managing Producer Sally Swift talked with Tucker Shaw, of America’s Test Kitchen, to find out some of his thoughts on taking care of the things that take care of you in the kitchen.

Consumers may not link tariffs and higher prices

Sep 18, 2018

How much do you pay attention to fluctuations in the prices of stuff you buy? There are new tariffs coming on some $200 billion worth of goods from China. They'll start with a 10 percent tariff Monday and climb to a 25 percent tariff in the new year. Today, China immediately promised to retaliate with tariffs on $60 billion worth of American goods. Tit for tat and all that.

Click the audio player above to hear the full story. 

It's use-it-or-lose-it season in Washington

Sep 18, 2018

Congress is making some progress on spending bills for fiscal year 2019, which starts October first. But, while lawmakers fight over next year's budget, federal agencies are still struggling to  spend all the money they got this year, because what they don't use by the end of the month, Congress takes back. So cue the September spending spree, which has become so routine, many agencies plan for it. Up to a point, anyway. 

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