Apple has abandoned its effort to make an autonomous electric vehicle. We’ll get into why the company’s venture flopped and what it says about the supply chain for electric vehicle parts. Then, we’ll explain how a Texas federal judge’s ruling is upending race-based aid for businesses. And, guest host Sabri Ben-Achour tells us how he created a flower. Plus, we’ll play a round of Half Full/Half Empty! Here’s everything we talked about today: “How Apple San...
Mar 09, 2024•33 min•Ep 1114•Transcript available on Metacast When supply chains were backed up early in the pandemic, some businesses bulked up on warehouse space. Now that inventory is no longer a problem, what to do with the excess? And in the art world, some nonprofits are trying to buy real estate, which comes with benefits and financial hurdles. Also in this episode: COVID habits shape restaurant hiring and a bakery deals with rising costs.
Mar 08, 2024•28 min•Transcript available on Metacast Stocks fall; unemployment rate ticks up; average pay continues to outpace inflation; Costco sales rise.
Mar 08, 2024•1 min•Transcript available on Metacast The Labor Department reports the unemployment rate last month spiked up to 3.9%; New York Fed President John Williams says the “neutral interest rate”is still quite low; President Biden cites job creation and the low unemployment rate in his State of the Union speech; The Gap turns profitable.
Mar 08, 2024•2 min•Transcript available on Metacast This morning’s fresh jobs data shows that 275,000 people were added to payrolls last month. But December and January’s payroll numbers were revised down, pointing to a labor market coming off the boil. We dig in. Also on today’s show: President Joe Biden’s State of the Union address touted his economic wins, Google tries to crack down on spam in search results, and revised H1-B visa rules give workers more autonomy.
Mar 08, 2024•10 min•Transcript available on Metacast President Joe Biden could have tiptoed around economics during last night’s State of the Union address, but that’s not what he did. Instead, he pointed to slowing inflation, called out corporations for unfairly raising prices, advocated for a fairer tax code and proposed a mortgage relief credit for first-time homebuyers. We’ll unpack some of the highlights from last night. Then, we’ll hear about a scaling back of proposed banking regulations.
Mar 08, 2024•8 min•Transcript available on Metacast From the BBC World Service: The United Kingdom will be left increasingly reliant on military allies due to a black hole in defense spending, lawmakers warn. Then, it’s a decade since Malaysian Airlines flight MH370 disappeared; we have the latest on the search for the missing plane. And last summer marked the first time in six decades that Hollywood’s actors and writers went on strike simultaneously. How are the repercussions being felt?
Mar 08, 2024•8 min•Transcript available on Metacast Late last month, Change Healthcare, a unit of UnitedHealth, came under attack by an infamous hacker group called BlackCat. $22 million in ransom later, reportedly paid in bitcoin, and the problem is far from solved. Also this week: Max, previously HBO Max, announces a crackdown on password sharing — maybe it’s time to dust off the old DVD player. But first, Apple on Monday got hit with a massive fine from regulators in Europe. They say the company used its app store dominance to box out mu...
Mar 08, 2024•13 min•Transcript available on Metacast A big antitrust law goes into effect today in the European Union. The Digital Markets Act is an effort to regulate Big Tech companies like Apple and Google. It’s designed to make the internet more competitive, but enforcement may prove tricky. Also in this episode: new retail subscriptions, the latest Beige Book insights, and a cowboy-skier-friendly sport.
Mar 07, 2024•26 min•Transcript available on Metacast Stocks rise; Powell says cutting rates will help the economy avoid a recession; imports rise in January; initial unemployment claims unchanged.
Mar 07, 2024•1 min•Transcript available on Metacast Federal Reserve Chair Jerome Powell took a trip to Capitol Hill this week to testify about the health of the U.S. economy. We’ll get into the TL;DR of Powell’s testimony and why he doesn’t foresee a recession around the corner. And, we’ll talk about how political campaigns are spending on advertising these days. Plus, the latest regional banking woes and what rapidly advancing deepfakes could do to this year’s elections. Here’s everything we talked about today: “Key...
Mar 07, 2024•11 min•Ep 1113•Transcript available on Metacast Growing up, Haein Shim was taught that if she wanted to succeed, she needed to change her appearance. Shim was raised in South Korea, where a competitive job market and booming beauty industry combined to make careful beauty maintenance all but mandatory for gainful employment. By the time she was a young adult, she was spending hours a day and hundreds of dollars a month on makeup and clothes, until one day her friend asked, “Why do we spend so much money on our appearance?” That question upend...
Mar 07, 2024•40 min•Transcript available on Metacast President Biden will call for higher taxes on corporations and billionaires; Red Sea missile attack kills three on cargo ship; initial jobless claims remain low at 217,000; NYCB customers withdrew 7% of deposits in a month, bank reports.
Mar 07, 2024•1 min•Transcript available on Metacast The Securities and Exchange Commission passed new rules this week requiring public companies to disclose climate-related risks to investors. The rules are meant to standardize reporting requirements on things like emissions and exposure to climate change-related disasters. We unpack. Also: When will the Fed cut rates? Senators are likely to put Jay Powell on the spot when he testifies. And New York Community Bancorp gets a $1 billion injection from investors.
Mar 07, 2024•8 min•Transcript available on Metacast As part of this month’s Econ Extra Credit series , we’re watching Oscar-nominated documentary shorts. On today’s show, we’re focusing on “The Barber of Little Rock.” The film follows Arlo Washington on his quest to fight economic inequality in Arkansas, where he founded a barber school and a nonprofit loan fund. Today, we’ll hear Washington’s conversation with “Marketplace Morning Report” host David Brancaccio. But first, the number of cyberc...
Mar 07, 2024•8 min•Transcript available on Metacast From the BBC World Service: On Friday, Ireland votes on whether to change a clause in the constitution that says a woman’s main duties are as a caregiver in the home. In this special from Dublin, women from different backgrounds speak about their experiences and opportunities in the workplace. We’ll hear their perspectives from Bewley’s, a tea room where the Irish Women’s Liberation Movement first met.
Mar 07, 2024•10 min•Transcript available on Metacast More than 260,000 people working in the tech industry were laid off last year, and some CEOs have put at least some of the blame on high interest rates. Policymakers at the Federal Reserve hiked rates at the fastest pace in modern history to beat back inflation. And when rates rise, borrowing money gets more expensive. Marketplace’s Lily Jamali sat down with Mary Daly, president and CEO of the San Francisco Federal Reserve Bank, to discuss how the tech industry is navigating through this higher ...
Mar 07, 2024•14 min•Transcript available on Metacast Nikki Haley has officially ended her 2024 presidential bid and had a lot to say about the state of the economy as she bowed out. We’ll get into that and look at where the dominoes are falling in the presidential contest post-Super Tuesday. Plus, the money moves political candidates sometimes make to cruise to victory. And, how “rumor clinics” helped combat mis- and disinformation during World War II. Here’s everything we talked about today: Statement about Nikki Haley’s e...
Mar 07, 2024•16 min•Ep 1112•Transcript available on Metacast One of many differences between President Joe Biden and and former President Donald Trump? How they talk about the Federal Reserve. While the central bank is supposed to be nonpartisan, that hasn’t stopped politicians from trying to influence it. In this episode, the Fed’s delicate political independence. Also in this episode: the cooling — but not cold — job market, an end of an era for middle-class retail, and a review of the IRS’ Direct File tax-filing system.
Mar 06, 2024•30 min•Transcript available on Metacast Stocks close higher; investment meant to stabilize NYCB; job openings unchanged in January; private sector adds 140,000 jobs.
Mar 06, 2024•1 min•Transcript available on Metacast A handful of big tech companies must comply with new European Union rules taking effect at midnight; job openings remain elevated at 8.9 million; Powell sees inflation risk in cutting rates too soon; hackers who attacked UnitedHealth may have run away with ransom payment.
Mar 06, 2024•2 min•Transcript available on Metacast Following Super Tuesday’s results, there hasn’t been a major paradigm shift, even after the suspension of Republican contender Nikki Haley’s presidential campaign. But many people in the world of business are laser-focused on the outcomes of November’s election because of what it can mean for antitrust policy. We delve in. Also: what’s included in spending packages before the House and how a lack of water is impacting the Panama Canal.
Mar 06, 2024•9 min•Transcript available on Metacast The U.S. housing market gained $2.4 trillion over the last year, according to a new Redfin report. Homes in suburban areas saw their values increase by more than 5.6%, which is more than homes in city centers. We add it all up. Plus, Apple has lost market share in China and is pushing an update to mobile operating systems in Europe. Then, lessons in life — and economics — courtesy of an HBCU marching band director.
Mar 06, 2024•9 min•Transcript available on Metacast From the BBC World Service: Sales in China of Apple’s iPhone fell by 24% in the first six weeks of 2024 compared to a year earlier, while competitor Huawei saw its sales jump by 64% during that same period. Also, Singapore’s prime minister defends exclusive access to Taylor Swift’s Eras tour, and regional neighbors aren’t happy. And the Panama Canal faces a major problem: The canal is running out of water.
Mar 06, 2024•10 min•Transcript available on Metacast This week marks the first anniversary of the collapse of Silicon Valley Bank, the largest bank failure in the United States since the 2008 financial crisis. Today, Marketplace’s Lily Jamali revisits the SVB collapse with Anat Admati, an economics professor at Stanford University and co-author of the book “The Banker’s New Clothes.”
Mar 06, 2024•10 min•Transcript available on Metacast It’s Super Tuesday, and we’re talking about something that’s on the ballot in many nations around the world: populism. Right-wing populist movements have been gaining popularity in democracies like Hungary, Italy, India and the United States, to name a few. On the show today, sociologist Bart Bonikowski breaks down what populism is, how it shows up on the left and right, why right-wing populism seems to be catching foothold in so many countries and the economic factors at play....
Mar 06, 2024•34 min•Ep 1111•Transcript available on Metacast The U.S. produces more crude oil than any other country, but the number of active oil rigs has fallen by nearly 70% since 2014, the Energy Information Administration reports. How can that be? The answer is a combination of innovation and financial pressure. Plus, the non-alcoholic beverage market booms, the U.S. Patent Office decides AI can’t be credited as an inventor and household debt burdens are on the rise.
Mar 05, 2024•27 min•Transcript available on Metacast Stocks fall; service sector employment contracts; factory orders fall; Target sales decline.
Mar 05, 2024•1 min•Transcript available on Metacast Hey, Million Bazillionaires! We’re working on a brand new season of “Million Bazillion” (more on that very soon). But if you need more “Million Bazillion” in your life, we have something just for you. It’s the latest round of the Million Bazillion Academy, a free email newsletter course that teaches kids about business, the economy and lots of other good money stuff we haven’t covered on the show before. New lessons arrive weekly, and you can complete th...
Mar 05, 2024•1 min•Transcript available on Metacast A Biden administration rule will impose new limits on late fees; Target reports lower sales but higher profits thanks to less discounting; Red Sea attacks continue, sinking ship; FAA says Boeing’s Max production line had multiple safety, quality failures.
Mar 05, 2024•2 min•Transcript available on Metacast 
