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In less than 10 minutes, we’ll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace’s David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you’ll get a global markets update from the BBC World Service in London.
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Interest rates in America are guided by a key inflation reading released today, and it came in line with expectations, showing year-over-year inflation was pretty tame. We chat with FHN Financial Chief Economist Christopher Low about how to unpack recent inflation data and what it says about a potential Fed rate cut. Also on the show: the potential economic boon provided by a reunion of the British band Oasis.
The Paralympic Games are now underway in Paris, and a record number of broadcasters around the world will be covering this year’s events, including para swimming, wheelchair rugby and tennis. NBC — the games’ U.S. broadcast partner — reported that Paralympic ad sales are up 60% over the Tokyo games in 2021. Also on the show: the presidential candidates on economic policy and a big moving day in Boston.
From the BBC World Service: A dispute over local laws in Brazil could mean that the X platform is blocked in the country. And with the announcement that the British band Oasis is reforming, we look at the figures behind the hype.
Members of Congress are calling on the Agriculture Department to fix supply chain problems. Several groups of lawmakers are saying some tribes and food banks that rely on supplies from USDA distribution programs are reporting empty shelves because promised food deliveries never came. Also, a growing minority of Americans worry curbing climate change will hurt the economy, and Singapore’s government is pushing older workers to keep working.
Latinas’ contribution to the U.S. economy grew more than 50% between 2010 and 2021. In 2021, it totaled $1.3 trillion, new data shows. But despite their economic rise, Latina workers are still overrepresented in certain low-wage jobs. We’ll hear more. But first, Nvidia reported superb results, but that still disappointed some on Wall Street. And we’ll learn the latest developments in the arrest of Telegram’s Pavel Durov.
From the BBC World Service: In Argentina, police have clashed with demonstrating senior citizens in the capital, Buenos Aires. The protesters are angry that President Javier Milei is to veto a pension increase as part of his austerity drive. Plus, the founder and boss of Telegram has been banned from leaving France . And in Singapore, we look at how an aging population is affecting the workforce.
This morning, the U.S. surgeon general issued a public health advisory regarding the mental health of parents. Vivek Murthy says parents are dealing with significant stresses that prior generations didn’t have to deal with, and they need more support from the government and their employers. Plus, dude, we’re getting the band back together! A look at at the economics behind why Oasis is going on a reunion tour.
The stock for semiconductor chipmaker Nvidia has skyrocketed with the growth of generative artificial intelligence like ChatGPT. But investors have noticed that the actual profits from AI have tended to lag the hype. Today, Nvidia will release its profits and we’ll learn how much of this underlying hardware AI companies are still buying. And later: how Aug. 28 keeps showing up at turning points in the Civil Rights Movement.
From the BBC World Service: Sir Keir Starmer is meeting with German Chancellor Olaf Scholz. It’s the start of a landmark post-Brexit visit to Berlin, where the aim is to reset the United Kingdom’s relationship with Germany and the broader European Union. Also on the show: halted Toyota production in Japan, an oil leak in the Red Sea and a U.K.-based company that sees value in bringing onboard older workers.
A federal judge in Oregon will continue hearing arguments about whether to pause efforts to merge the grocery chains Albertsons and Kroger in a nearly $25 billion deal. The Federal Trade Commission believes prices would go up and consumers would lose. We’ll hear more. Plus, Canada announces sweeping tariffs on Chinese EVs, San Fransisco Fed President Mary Daly chats about rate cuts, and businesses cater to India’s growing elderly population.
You may have heard the phrase “be cool, stay in school” before. That’s a bit hard when it’s this hot out though. More than 10,000 schools nationwide lack air conditioning, according to the Center for Climate Integrity. Installing ACs is costly — but so is heat’s impact on student learning. Also on the program: We’ll look at the growing push to erase medical debt, a burden impacting millions of Americans.
From the BBC World Service: Following the lead of the U.S. and the European Union, Canada says it will impose a 100% tariff on imports of Chinese electric vehicles and a 25% tariff on imported steel and aluminum from China. Plus, it’s estimated that there will be 350 million adults over 60 in India by 2050; so it’s no surprise that companies are increasingly looking to cash in on the silver economy’s substantial spending power.
Over the weekend, French authorities arrested the 39-year-old founder of the messaging app Telegram. This reportedly has to do with a wide-ranging investigation into illegal activity on the app. But some are decrying the arrest as a free speech violation – saying it threatens the very essence of what makes Telegram useful. We dig in. Plus, an eco-friendly concert and a look at how bond markets are responding to signals of interest rate cuts.
Last week’s jobless numbers revealed that more than 1.8 million people were drawing unemployment. Among the irks for would-be workers? A frustrating uptick in the number of “ghost jobs,” or postings that stay up on jobs sites for months on end without a hire. Also on the show: a moment of clarity on the future of interest rates and the sunsetting of a free COVID-19 vaccine program for uninsured adults.
From the BBC World Service: Pavel Durov, the founder and CEO of messaging platform Telegram, was arrested in France for allowing a wide range of crimes to take place on the platform due to insufficient moderation. Then, a “right to disconnect” law comes into force in Australia. We’ll hear how employees are feeling about the change. Plus, English band Massive Attack performed in Bristol — without the use of diesel generators.
Cryptocurrency companies have been pumping lots of money into 2024 federal elections — more than $119 million so far, or almost half of corporate money given during elections this year, according to consumer advocacy group Public Citizen. Also on the show: The Democratic National Convention wraps up with an emphasis on the middle class, and Copenhagen’s underground tunnel network aims to help the city deal with the worst of the climate crisis.
Vice President Kamala Harris closed the Democratic National Convention last night with an acceptance speech that broadly laid out her priorities. On the dollars and cents side of things, she highlighted protecting Social Security and Medicare, addressing the housing shortage in this country and a tax cut for middle-income households. Plus, arbitration agreements have become increasingly more common buried in the terms and conditions for various apps and services.
From the BBC World Service: The visit comes not long after Prime Minister Narendra Modi met the Russian President Vladimir Putin in Moscow, which didn’t go over well with some European leaders. Then, Canada’s government has ordered employers and rail unions involved in a huge dispute to take part in arbitration. And the Danish capital Copenhagen is trying to prepare the city for the future dangers of extreme weather.
The economy and the higher cost of living due to inflation are important factors shaping this election. Tonight, when Vice President Kamala Harris delivers her primetime acceptance speech at the Democratic National Convention, many viewers will be listening for what she plans to do to lessen the strain on their pocketbooks. We’ll hear more. Then, we’ll talk with a content creator attending the DNC and hear some positive news on productivity.
The U.S. economy added 800,000 fewer jobs than originally thought between the first quarter of last year and this year, according to updated data from the Labor Department. It’s no crisis, but it does mean the labor market has been cooling faster than expected. It’s yet another reason people will be dissecting every signal they can from the Federal Reserve on when it might cut interest rates. Also, startups are increasingly a target for spies.
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We don't need a Gavin Newsom to crash the United States of America like he is crashing California.
Have all the women kill simutaneously all the Talban men. Then go to university.
Being a Democrat is self harm.
Just have the most successful money launderer help with the cover-up, call Biden.
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Humanitarian aid to Gaza so they can repeat?
If I spent , borrowed, then dumped that borrowed money into the market, as much as the Federal government does, the inflation would grow exponentially. The key is that the inflation is based on the difference between taxes income and money spent. If government borrowing covers the over spending each borrowed dollar lowers the value of each dollar already in the market, since the tax income doesn't change. Ergo inflation. Consumer spending increases the market value by the exchanging of dollars.
Why not improve public schools rather than drag Private Schools down.
Using Biden style overseeing. See no Evil, Hear no Evil, Say nothing about the Evil, such as Biden's control over the FBI and the CIA. Nancy Pelosi must be proud of the use of child labour as she promoted border crossing of all the children to do various kinds of work. Can you list all the things children can do? I knew you could. Such a good neighbor.
Nothing like semi- slavery to save on labor costs. Elites develope vaccines to have low wage autistic laborers for duties that would have cost more for non-autistic labor. You missed a table.
Take the money and run, sounds like a Leftist. I didn't know Biden was an artist.
Hitler thought a war and Holocaust was worth getting art.
Downtowns anywhere in California are exposed to the security that is not provided by the Democrat political powers in California and the fear of Downtown attacks prevents wise businesses from operating in downtown areas.
Human trafficking is dangerous since you would be competing with the Biden administration directly as they are flying in and bussing in migrants themselves.
People, some of the 7,000,000 that left Venezuela, can tell Democrats why changing the USA to Socialism/Communism is so dangerous. Not the change they want but have been herded into.
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I don't think there's anything wrong with gambling as long as it's approached responsibly. I'm planning to develop a gambling platform myself, and I'll definitely note the importance of responsible gambling.
inflation comes from government spending. Tell your National Government administration to quit spending on any extra expenses. It is the debt spending, spending more than what is brought in through taxes, any person with a 💳 credit card understands how it works.
First the Nord Stream pipeline, now a dam that ruins agriculture. When will the USA quit Stalinizing against the public?