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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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More than 400,000 electricity customers are out of power across Florida this morning. After the storm, ports, transfer terminals and roads were closed, and that’s disrupted the supply of critical products, including gasoline. We’ll get into it. Then, you may be getting an inundation of fundraising texts and emails from the Trump-Vance or Harris-Walz. But do the campaigns really need your money at this point? And later, we’ll learn about hotel-to-housing conversions.
From the BBC World Service: All roads lead to Paris as the City of Light hosts its major motor show, with French and Chinese car manufacturers dominating the event with new reveals. Then, South America has exceeded its record for wildfires this year. The Amazon rainforest is seeing its worst fires in two decades; an area bigger than Sri Lanka has burned in the Brazilian Amazon alone.
1Stocks are increasingly an important source of household wealth. Thanks to the booming stock market, U.S. household wealth surged to a record high last year, per Federal Reserve data. But there are continued racial differences in stock ownership, which has big implications for the racial wealth gap. We’ll learn more. Also on the show: producer prices remain tame, and business travel spending rebounds.
“We’ve just softened the boundaries a little bit and allowed politics to creep into the workplace,” says Sean Westwood, director of the Polarization Research Lab at Dartmouth. As part of our Office Politics series in the lead-up to the election, we’re focusing on how companies intensify or ease political divides. Today: the argument for just not talking about politics or other divisive matters at work. But first, Trump and Harris turn their attention to automakers.
From the BBC World Service: Chinese police have detained four workers of the Taiwanese iPhone maker Foxconn in circumstances Taipei has described as “strange.” The employees were arrested in Zhengzhou on “breach of trust” charges. We’ll unpack. Then, Portugal wants to bring in a new law to give a decade of tax breaks to people up to the age of 35. And “ghost” distilleries are being resurrected as demand for rare whiskey soars,
The value of gold is up 28% since the beginning of the year. And while some see the precious metal as shiny and pretty, central banks around the globe view it differently — as a safe asset during a time of geopolitical tensions. Also on the program: We’ll discuss how markets are responding to this morning’s inflation data, and we’ll hear about a lawsuit against some top universities for alleged financial aid price-fixing.
Later this morning, we’ll get the consumer price index for September. While inflation is way down from its peak in June 2022, consumers are frustrated with persistently high prices. We’ll hear more. Plus, how does a Nobel win in literature influence book sales? We’ll hear from the publishers of last year’s Nobel laureate, Norwegian playwright and author Jon Fosse, about how they dealt with a surge in demand.
From the BBC World Service: Ratan Tata was one of India’s most internationally recognized industrialists. The tycoon oversaw a 50-fold rise in profits in his two decades as chairman of Tata Group and acquired brands like carmaker Jaguar Land Rover. He died at age 86. Also: How is Swedish furniture giant Ikea going to hit its eco targets? Plus, the drugmaker behind Zantac agrees to a huge payout.
Medicare does not pay for general, long-term care. Now, Kamala Harris, the Democrat’s candidate for president, wants to expand Medicare to pay for long-term care for older people in their home. That would need an amenable new Congress, but many families are presently left trying to piece together care for older relatives. Also on today’s show: potential structure changes to Google and the rising value of the U.S. dollar.
In a time of fraught political polarization, it’s hard for companies to decide whether to take political stands or remain quietly on the sidelines. Today, as a continuation of our Office Politics series, we’ll hear why some places that once mixed business and politics may be keeping a lower profile now. Then, nearly a month into a strike, negotiations between aerospace giant Boeing and its union members have broken off. We hear why.
From the BBC World Service: The U.S. Department of Justice is taking aim at Google, saying the tech giant might need to be broken up because it’s too dominant in the market. This comes after a major ruling in August where a judge found Google has been running an illegal monopoly when it comes to online searches. Plus, an agency enabling the international mail system celebrates its 150th birthday.
The video game industry is bigger than movies and music combined. As part of our ongoing Skin in the Game series, we’re chatting with journalist Jason Schreier about the rise and fall of Blizzard, the company behind such games as World of Warcraft. It’s a story about the push and pull between creativity and business know-how. Also on the show: Small business uncertainty reaches an all-time high.
As Hurricane Milton barrels toward the Tampa Bay region, home to some 3 million people, residents there are still recovering from Hurricane Helene. Helene caused billions of dollars in damage. Yet nearly every homeowner who may be affected lacks adequate flood insurance. Plus, our TVs may also be watching us. And we’re coming up on one year since Microsoft finalized the largest video game deal ever: $68 billion for Activision Blizzard.
From the BBC World Service: Days after the European Union voted in favor of steep import taxes on electric vehicles from China, Beijing has now hit back with tariffs on brandy imports. Other EU products could also face extra charges. Then, Uber’s CEO reflects on the benefits of low-cost EVs from China. And later: A major copper mine in Panama remains closed, hampering the country’s economy.
Third quarter earnings season kicks off this week, when we’ll get a view of the economy through the lens of the companies on the front lines. We had a banner jobs report last week. Are banner earnings next? And what would all that mean for future rate cuts? Also on the show, we’ll examine why labor force participation has hovered at around 63% for a few years now.
The nonpartisan Committee for a Responsible Federal Budget released a new study this morning, looking at how the Harris and Trump campaigns’ spending plans would affect the national debt. Both estimates are pretty dire. We’ll hear the latest. Plus, the global private equity market was worth $579 billion in 2000; today, it’s worth over $8 trillion. But is there trouble ahead for private equity?
From the BBC World Service: The biggest rise in oil prices for nearly two years was recorded on Friday, as the world watches mounting tensions in the Middle East and how Israel will respond to attacks by Iran. Then, an aging population is straining future growth prospects for Malaysia’s economy. And a British woman who spent nearly half a century wondering why a dream job application went unanswered has finally found out why.
Several times a year, millions of honeybees are transported back and forth across the country to help pollinate the nation’s crops. Whose job is it to move them? Plus, what to make of the gangbusters September jobs report.
Dockworkers have suspended their strike until Jan. 15 in response to a new, higher wage offer from port operators. But what about their demands around automation? Plus, a judge blocks the Biden administration’s latest student debt relief plan, and the complicated work of tracking political donations by companies and business owners.
From the BBC World Service: The European Union has given the green light to big tariffs on electric vehicles made in China, but not all member states or European car manufacturers are happy with the decision.
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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?