Marketplace

Weekdays, 4:00PM - 4:30PM
  • Hosted by Kai Ryssdal

Marketplace, hosted by Kai Ryssdal, is the only national daily business news program originating from the West Coast. Marketplace is noted for its timely, relevant and accessible coverage of business, economics and personal finance. The 30-minute program has a reporting style that is lively and unexpected, focusing on the latest business news both nationally and internationally, the global economy, and wider events linked to the financial markets. Marketplace is a Peabody Award-winning program produced and distributed by American Public Media, in association with the University of Southern California.

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Podcasts

  • Friday, August 10, 2018 12:50pm
    Roughly one in five Americans has a disability. Those numbers increase with age and vary across race and gender, but every single one of those people is carving out an economic life. In this hourlong special, we focused on three pillars of the economy: education, work and health care. 
  • Friday, August 10, 2018 12:01pm
    It's rare that foreign exchange markets top the news, but when they do, it's never good. Turkey's currency, the lira, fell to record lows against the dollar as President Donald Trump hit the country with additional tariffs on steel and aluminum. We'll break down what happened and try to figure out if other countries should be worried. Then, we'll talk to a business near the wildfires that closed down Yosemite National Park during peak season. Plus: The sun sets on the celebrity chef restaurant.
  • Friday, August 10, 2018 8:44am

    (Markets Edition) President Trump has now chimed in on Turkey’s economic crisis, tweeting out that he’s cranking up the tariffs on Turkey, calling relations with the country “not good.” And while the Turkish economy is only the 17th largest in the world, it still carries potent global impact. And in our series on how people deal with toxic workplaces, an HR expert offers up her perspective. Today's show is sponsored by Abby Connect (Abbyconnect.com/morningand Indeed (Indeed.com/marketplace). (08/10/2018)

  • Friday, August 10, 2018 4:55am
    (U.S. Edition) The plummeting value of the Turkish lira has now gotten the attention of the European Central Bank, which is keeping an eye on how the crisis could be affecting other foreign banks. Also, a federal court has banned an insecticide that has been linked to developmental disabilities in children — the latest development in the insecticide's contentious history. And, if you're in the market for any odd items that have been graced with the presence of a celebrity, Graceland in Memphis is holding an auction that includes things like a jacket from Elvis. We explore how celebrity auctions have gotten to this point. Today's show is sponsored by Abby Connect (Abbyconnect.com/morningand Indeed (Indeed.com/marketplace). (08/10/2018)
  • Friday, August 10, 2018 4:18am
    (Global Edition) From the BBC World Service … A fresh plunge in the Turkish lira today is capping a tumultuous week for the country as investors grow increasingly nervous about inaction from the government and central bankers. With a new economic plan set to be released, we’ll explore what options Turkey has to soothe investors’ frayed nerves.  Then, vacationers in Europe might find themselves waiting at the airport for new flights after Ryanair cancelled planned routes amid a pilot strike. Afterwards, India is one of the largest tea producers in the world, but the local industry is in serious trouble as it tries to balance profits and worker wages in an increasingly competitive market. We’ll take you there and hear from some workers and industry players about the challenges facing their business. Today's show is sponsored by Abby Connect (Abbyconnect.com/morningand Indeed (Indeed.com/marketplace). (08/10/2018)

Clara Malave, 50, works in the hot and loud laundry room at one of the bayfront hotels in Erie, Pennsylvania, loading linens into massive industrial washers and dryers. At $8.80 an hour, it's grueling work. But it is work, and she’s grateful for it. Like most of the other workers here, she’s a part-timer whose hours change constantly. She only knows a week out what her schedule will be. She keeps a carefully balanced checkbook and a list of her impending expenses.

As Turkey’s currency tumbles, contagion fears rise

Aug 10, 2018

Turkey’s currency, the lira, is in free fall. It’s been declining for months and today it reached a record low, down by as much as 18 percent. Part of the reason is Turkey’s bad relations with the United States. The two countries have been at odds lately over the detention of an American pastor. And today, President Donald Trump announced that he’d double tariffs on Turkish metals. The turmoil has rattled European markets, which fear they may get hurt, too. How justified are those fears? And what’s the global risk?

A hedge fund gets hungry for Campbell Soup

Aug 10, 2018

There is a certain circle of life quality to corporate finance in this economy. Almost every day on Wall Street, big investment companies like hedge funds and private equity firms go looking for companies to invest in or to acquire.

This happens all the time with lesser-known companies, but just this week, it happened with the Campbell Soup Co. Its soups are an iconic American brand, and the company’s been around for 149 years, but looking at its flagging soup sales alone, you can tell it’s a bit of a dinosaur.

The business behind celebrity auctions

Aug 10, 2018

As a public school teacher in New York City, Richard Andino isn't making boatloads of money. But that doesn’t stop him from attending celebrity auctions.

At a Park Avenue sale last month, he dropped five grand on a gold watch once owned by the mid-century jazz legend Art Tatum, known as one of the greatest piano players of all time.    

“It’s something that belonged to my idol,” Andino said. “So it’s worth it.”

Andino, who’s 53 and plays piano himself, has been obsessed with Tatum since he was a teenager. That’s why he’s willing to pay up.

Toxic workplaces can lead to a balancing act for HR

Aug 10, 2018

(Markets Edition) President Trump has now chimed in on Turkey’s economic crisis, tweeting out that he’s cranking up the tariffs on Turkey, calling relations with the country “not good.” And while the Turkish economy is only the 17th largest in the world, it still carries potent global impact.

Turkey shaken by financial fears, Trump rattles it further

Aug 10, 2018

A financial shockwave ripped through Turkey on Friday as its currency nosedived on concerns about its economic policies and a dispute with the U.S., which President Donald Trump stoked further with a promise to double tariffs on the NATO ally.

The lira tumbled 13 percent in one day, to 6.51 per dollar, a massive move for a currency that will make the Turkish poorer and further shake international investors’ confidence in the country.

The role of human resources in workplace harassment

Aug 10, 2018

When there are cases of harassment and bullying in the workplace, it's likely the company's human resources department (or a close equivalent) will eventually get involved. But according to some workplace culture experts, turning to human resources can prove to be potentially dangerous for the employees involved in workplace bullying incidents. There may be retaliation against the employee who brought the complaint about a bullying boss or manager to HR in the first place.

Court orders EPA to ban pesticide

Aug 10, 2018

It's called chlorpyrifos. It's a widespread and controversial insecticide — and now it's been banned. On Thursday, a federal court ordered the EPA to end the use of the chemical, which has been linked to developmental disabilities in children. DowDuPont Inc. is the largest producer of chlorpyrifos, which is used on crops like soybeans, apples and oranges. 

Click on the audio player above to hear more. 

Detailing the origins of the celebrity auction

Aug 10, 2018

(U.S. Edition) The plummeting value of the Turkish lira has now gotten the attention of the European Central Bank, which is keeping an eye on how the crisis could be affecting other foreign banks. Also, a federal court has banned an insecticide that has been linked to developmental disabilities in children — the latest development in the insecticide's contentious history. And, if you're in the market for any odd items that have been graced with the presence of a celebrity, Graceland in Memphis is holding an auction that includes things like a jacket from Elvis.

Turkey crisis concerns mount as lira plunge worsens

Aug 10, 2018

(Global Edition) From the BBC World Service … A fresh plunge in the Turkish lira today is capping a tumultuous week for the country as investors grow increasingly nervous about inaction from the government and central bankers. With a new economic plan set to be released, we’ll explore what options Turkey has to soothe investors’ frayed nerves.  Then, vacationers in Europe might find themselves waiting at the airport for new flights after Ryanair cancelled planned routes amid a pilot strike.

To finish out our series on venture capital, we'll take a look to the future. Cryptocurrency may have its disruptive eye cast toward venture capital. The initial coin offering is a type of crypto-crowdfunding that startups can use to raise cash quickly without kissing the Silicon Valley ring. But do ICOs really have the potential to replace venture capital for startups? We go back to the time Marketplace Tech host Molly Wood spoke with Yuliya Chernova, who covers venture capital for the Wall Street Journal, about the pros and cons of ICOs. 

How savvy investments help members of Congress

Aug 9, 2018

U.S. Rep. Chris Collins of New York was arrested and charged this week with allegedly passing on information he learned as a board member of a Australian pharmaceutical company to family members who quickly sold their stock to avoid big losses.

Collins, like about of half of his colleagues in Congress, owns stock in publicly traded companies.

Why mergers are as complicated as relationships

Aug 9, 2018

Today we learned that the merger of Sinclair Broadcast Group and Tribune Media Co. has been called off. Albertsons and Rite Aid also announced their merger will not happen.

That’s two big breakups on one day, but in the grand scheme of things, merger failures aren’t that rare. It happens about 20 percent of the time, according to David King, an associate professor at Florida State University, who has studied merger success and failure.

Day laborers are pressed by Trump immigration policies

Aug 9, 2018

In Woodburn, Oregon, a small city in the Willamette Valley, there’s a Fiesta Mexicana every summer where families gather at a local park for Latin music and dancing, Mexican food and carnival rides. A busy freight rail line runs through the center of town, past small shops catering to the Latino community. On the outskirts, fields of corn, vegetables and grass seed spread in every direction. 

Sadia Kahn ended up at UC Berkeley because of a look her dad gave her. When she was in middle school she told him she wanted to go to Berkeley because she’d noticed adults perked up when they heard the word, but in this case it backfired.

“He had the saddest look in his eye,” Kahn recalls. “I think he felt guilty. He knew that was something we couldn’t afford.”

Attending a university in California can be a financial burden beyond the means of many college hopefuls. Rising tuition is compounded by the lack of affordable housing in the state and the high cost of living.

Pence outlines plan for new Space Force by 2020

Aug 9, 2018

Faced with growing competition and threats from Russia and China, the White House on Thursday said it will create the U.S. Space Force as a sixth, separate military service by 2020.

Vice President Mike Pence told a Pentagon audience that the plan fulfills President Donald Trump’s vow to ensure America’s dominance in space — a domain that was once peaceful and uncontested that has now become crowded and adversarial.

The New York City Council has banned new permits for Uber and Lyft-style cars in New York City for a year. It’s the first city to do this at a time when these Silicon Valley disruptors are seen to be disrupting traffic and disrupting the lives of traditional yellow taxi and limo drivers.

The city council has also cleared the way to require Lyft and Uber to top up drivers’ salaries if they don’t meet the minimum wage.

(Markets Edition) The government says there was no inflation from June to July. But what does that mean, given how inflation impacts our daily decisions? Also, many businesses are joining forces to support the U.S. Postal Service — they may not be the Avengers, but they do have a name: the Package Coalition.

The U.S. Postal Service gives an update on its finances on Thursday morning. For years, pension costs and decreasing mail volume have caused the postal service to lose money. Now, many businesses are banding together to support the service, forming a lobbying group called the Package Coalition. It includes Amazon and other major e-commerce sellers. They are concerned that calls to reform the USPS could mean price hikes and service cuts. 

Click on the audio player above to hear more. 

(U.S. Edition) The U.S and Japan meet to talk trade for the first time since the U.S. pulled out of the Trans-Pacific Partnership. We’re also keeping an eye on the rising inflation in Turkey as the Lira continues to drop. Also, New York City has stopped Uber and Lyft in its tracks there, halting permits for a year due to concerns about traffic. Today's show is sponsored by Avast (avast.com) and Indeed (Indeed.com/marketplace). (08/09/2018)

U.S.-Japan trade talks open today in Washington

Aug 9, 2018

Japan trade talks are set to open today in Washington, D.C. for the first bilateral trade meeting since President Donald Trump pulled the U.S. out of the Trans-Pacific Partnership last year. It’s a high level meeting between Japanese Economic Minister Toshimitsu Motegi and U.S. Trade Representative Robert Lighthizer. Negotiating a free trade agreement and tariffs on Japanese auto exports are expected to top the agenda.

Click the audio player above to hear the full story. 

How to protect yourself from a bad boss

Aug 9, 2018

Even in 2018, there are a lot of people that don't get the fact that bullying is not OK. And when the person doing the bullying is your boss, it can suck the joy out of work, or worse, interfere with your home life, relationships and health. 

The next thing you know, that boss isn’t just dictating work — they’re ruining your life.

(Global Edition) From the BBC World Service … Fresh controversy around the ongoing European migrant crisis deepens after hundreds of farm workers in Italy go on strike. Then, Swedish meatballs and D-I-Y furniture have landed in India after IKEA opened its first store there today. We’ll hear from the company’s boss about its plans for future investment in the country.

As the trade war rages on, one industry is stuck in the middle of it all: shipping. Up and down the Mississippi River you’ll see lots of farm goods that have been slapped with tariffs. And down in Mississippi tariffs aren't just in the headlines, they’re on a lot of people's minds since so much local business is connected to agriculture and trading on the river. To give us an update, Kai Ryssdal called up Austin Golding, president of Golding Barge, for some insight on how business has changed with the tariffs. The following is an edited transcript.

All tariff pain is local

Aug 8, 2018

Another $16 billion of tariffs on imports from China will take effect in a couple weeks — Aug. 23 to be precise. That announcement came from office of the U.S. Trade Representative yesterday. Semiconductors and various plastics are on the list. The reaction from China was swift and predictable in this tit-for-tat thing we've got going on. China promptly said I see you and I match you — $16 billion in tariffs on U.S. products. So far, the macro effect of these tariffs on, say, GDP, prices or jobs has been minimal.

The United States will impose sanctions on Russia for its use of a nerve agent in an attempt to kill a former Russian spy and his daughter in Britain.

The State Department says Wednesday the sanctions will be imposed on Russia because it used a chemical weapon in violation of international law.

Former Russian spy Sergei Skripal and his daughter were poisoned by Novichok, a military-grade nerve agent, in the British town of Salisbury in March.

Britain has accused Russia of being behind the attack, which the Kremlin vehemently denies.

Can the U.S. stop all oil exports from Iran?

Aug 8, 2018

This week the Trump administration began re-imposing sanctions against Iran, and it seeks to reduce Iran’s exports of crude oil to zero by November. How successful that is could impact oil and gas prices around the world. In rural Virginia, residents are paying attention already.

At the farmers market in the town of Culpeper, about 70 miles from Washington, D.C., several merchants are cheering the American sanctions on Tehran.

(Markets Edition) The Trump administration might try to deny citizenship to people who've received welfare, help from social services, welfare, and coverage under the Affordable Care Act. Its reasoning? This notion that immigrants are a drain on health services. But we'll look at a some new data showing immigrants actually use them at a lower rate than people born in the U.S. Afterwards, we'll discuss Elon Musk's plans to potentially take Tesla off the public stock market, and then we'll explore how open office floorplans might actually lead to less interaction among co-workers.

Immigrants make up roughly 12 percent of the population in this country, but account for just 8.6 percent of heath care expenditures, according to a report in the International Journal of Health Services. Researchers at Harvard and Tufts universities combed through 18 years of studies on the subject, and found several reasons for the gap. 

Click the above audio player to hear the full story.

Why Elon Musk wants to take Tesla private

Aug 8, 2018

Elon Musk set the internet and stocks a flurry on Tuesday after tweeting he was thinking of taking Tesla private. It's far from a done deal, but if it does move forward, Tesla would be the largest company ever to go from public to private.

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