Marketplace

Weekdays, 5:00 p.m.
  • Hosted by Kai Ryssdal

Hosted by Kai Ryssdal, award-winning Marketplace is public radio's daily magazine of business and economics. Airing weekday afternoons, Marketplace takes a fresh approach to business news, covering listeners' interests in a way that's vital in today's economy.

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(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.

(U.S. Edition) Jack Ma, the founder of online retail powerhouse Alibaba, once promised President Trump that his company would bring a million jobs to the U.S. by 2022. That promise is now being dialed back as the trade feud between the U.S. and China has escalated. Also, we have 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.

(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

7 hours ago

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.

When an economy needs refugees

18 hours ago

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

19 hours ago

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.

After the dust settled on the Great Recession, financial institutions ended up paying over $200 billion in settlements to the U.S. government and people affected by the crisis. Some settlement deals broke records. But where'd that money go, and was it enough? As part of our ongoing coverage of the 10 years since the crisis, Divided Decade, we'll try to find out. Then: The federal government announced it will cap refugees entering this country at 30,000 next year, a record low. We'll look at Erie, Pennsylvania, one economy that relies on refugees to stay afloat.

Part of the tax law that was passed last year attempted to encourage U.S. companies that were holding earnings abroad to bring money home. Maybe companies might hire workers, increase wages or build factories.

We are well into 2018 and we are starting to see some repatriation.

President Donald Trump said in August he expected more than $4 trillion in overseas corporate profits to come flowing into the United States very soon. That's an unrealistic amount, said Michaele Morrow, associate professor of accounting at Suffolk University.

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.

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