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China rejects South China Sea ruling

Jul 12, 2016

On today's show, we'll talk about China's rejection of a ruling on its claims over the South China Sea; JPMorgan Chase's decision to give 18,000 employees a bump in pay; and President Barack Obama's health care legacy.

 

Medium-sized raises at a big bank

Jul 12, 2016
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Lane Wallace

JPMorgan Chase CEO Jamie Dimon published an op-ed in Tuesday’s New York Times announcing that 18,000 JPMorgan Chase employees will see pay raises in the next three years.

The bank’s minimum wage will go from $10.15 up to a range of $12 to $16.50 an hour.

Bicycle classes help Maine refugees get around town

Jul 12, 2016
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Caroline Losneck

Riding a bike, for some people, is strictly recreational. For others, it’s a necessity.

If you don’t own a car, either because it’s cost-prohibitive, or because your immigration status – like being undocumented or an asylum seeker – creates a lengthy wait for a license, bicycling can be both a necessity and fun.

Obama's hopes for the future of health care

Jul 12, 2016
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D Gorenstein

The crowning achievement of President Barack Obama’s presidency is the Affordable Care Act.

It’s the most comprehensive health reform since Medicare became law in 1965.

As he looks towards his legacy, in a new article in the Journal of the American Medical Association, the president acknowledged the work is not yet done and laid out a path forward.

Since the start of Obamacare, 20 million more Americans have insurance.

A new idea for New York restaurants

Jul 12, 2016
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Sally Herships

If you’re in the real estate business, then you know that urban space can fetch a premium. But in cities like New York, the problem often is that there isn’t much space available. So what’s a developer to do? Get creative and look for more efficient ways of using space that may have been overlooked. 

Entrepreneur Preston Pesek's specialty is using real estate efficiently. There was a project with Yoga studios. 

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JaeRan Kim

As protests continue over the recent police killings of black men in Falcon Heights and Baton Rouge, so do efforts to raise bail for those arrested during protests.

Crowdfunding sites for jailed protesters in both cities have collected more than $256,000 as of Tuesday morning. The majority of the funding has been raised by the Louisiana chapter of the National Lawyers Guild.

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Donna Tam

The popularity of Nintendo’s new Pokémon Go game has added more than $7 billion to the gaming company’s market value, but it’s also proving valuable for savvy mom and pop businesses.

Why Pokemon Go is sending Nintendo's stocks soaring

Jul 11, 2016
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Sabri Ben-Achour

There are fads, there are crazes, and then there’s Pokemon Go. 

The game last week became the top downloaded, top grossing app in the U.S., New Zealand, and Australia.  

It’s installed on as many Android phones as Tinder.  It has pretty much as many daily active users as Twitter.

If you aren’t playing Pokemon Go right now, someone near you is. 

Look for someone frozen, holding their phone up in front of their face, wildly sliding their fingers on the screen.

How trade and technology changed the textile industry

Jul 11, 2016
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Tracey Samuelson

Gloria Craven has seen lots of politicians come through North Carolina.

“I met John Edwards, Elizabeth Dole come in,” she said, rattling off a list of names that also included former North Carolina Congressman Brad Miller and former North Carolina Senator Kay Hagan.

But the biggest of them all? Craven pulled a stack of photos of then-candidate Barack Obama from a plastic bag on the floor by her couch. 

“That was 2008, he didn’t have that grey hair yet,” she joked.

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Donna Tam

Electronic Arts announced Monday that its war-themed franchise "Battlefield" will soon be a television series, according to The Hollywood Reporter.

What's going out there in the 'real' economy?

Jul 11, 2016

On today's show, we'll talk about the big economic picture following the release of Friday's jobs numbers; the open warfare between hotels and online agencies over your travel dollars; and the risky journey migrants are making to enter the U.S.

Mixed martial arts outfit UFC to sell for $4 billion

Jul 11, 2016
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Lane Wallace

A group of investors is planning to spend a whopping $4 billion on the Ultimate Fighting Championship, the company that’s made sometimes-brutal mixed martial arts into a popular form of entertainment.

The deal was signed over the weekend and confirmed Monday.

UFC has been around for 23 years, and in 2001 the current owners bought it for just $2 million.

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JaeRan Kim

Money Magazine has released its annual “Best Colleges for Your Money” list. It ranks schools on dozens of criteria — chiefly, how attending them will hit your bank account and how quickly you’ll make it back afterwards.

Princeton topped the bang-for-your-buck list this year. It hands out lots of grants, and on average, its alums are among the highest paid. Stanford, No. 1 last year, came in 10th. Babson College fell from second to below the top 50.

Why? The magazine tweaked its methodology.

Hotels and online travel sites battle on discounts

Jul 11, 2016
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Annie Baxter

Online travel agencies like Expedia, Travelocity and Priceline have grown in influence in recent years. For some consumers, they're a key way to discover hotels, and they can help hotels out by removing the burden of managing reservation systems and marketing.

"They do a great job at marketing. Everyone sees the commercials," said Robert Mandelbaum of CBRE Hotels' Americas Research. 

Online travel agencies currently capture about 15 percent of U.S. hotel bookings, according to Cindy Estis Green at the market research firm Kalibri Labs.

How we get to "full employment"

Jul 8, 2016
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Mitchell Hartman

The Department of Labor reported that 287,000 jobs were added to the U.S. economy in June, while 11,000 jobs were added in May (according to the first revision after release of the May data last month). Which is closer to being an accurate measure of the long-term capacity of the economy to create jobs?

Moby takes the Marketplace Quiz

Jul 8, 2016
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Raghu Manavalan

No matter who you are, you've probably had a rough day at the office that changed your perspective, or maybe you made an impulse purchase you really, really wish you could take back. This week, we sat down with Moby and had him fill out our questionnaire inspired by experiences with money and work. 

 

His memoir, "Porcelain," is out now.

 

In a next life, what would your career be?

 

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Donna Tam

Uber won't provide any special transportation services for the Republican National Convention, Politico reported Friday, adding to the event’s growing sponsorship issues.

The tech company said it couldn’t reach an agreement for “an official partnership” with the RNC. It’s a contrast to the DNC, where Uber will provide VIP attendees the ability to order cars from a special shuttle service versus its usual pool of drivers. But, Uber said, it will still host parties and a lounge area for both conventions.

How the Fed will view the June jobs report

Jul 8, 2016

On today's show, we'll talk about the June jobs report, which showed that the economy added 287,000 jobs last month; the news that Theranos CEO Elizabeth Holmes is banned from running a blood-testing lab for two years; and Trump's ability to unify Democrats.

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Lane Wallace

Another unicorn falls flat: This time it’s Theranos, the Silicon Valley startup that a few years ago held the promise of changing the way we get blood tests.

It’s been in an ugly tailspin for about eight months since a Wall Street Journal investigation led to a variety of inspections into how effective its blood testing actually is.

Election money starts to flow down the ballot

Jul 8, 2016

Presumptive Republican presidential nominee Donald Trump said he’ll unify the Republican party, but in the meantime, he's helping unify a strategy for some Democrats. The main fundraising group for House Democrats plans to run ads earlier than ever this campaign, and will spend more than a million dollars targeting voters uneasy with some of Trump’s rhetoric.

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Marketplace staff

This story's headline and text have been updated.

From our partners at the BBC:

Five Dallas police officers have been killed and seven wounded by gunmen during protests against the shooting of black men by police, authorities say.

Three people are in custody and one man who was in a stand-off with police shot himself dead, various media in the U.S. have reported.

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Molly Wood

If you are fed up with the way things are working in your town, maybe it's time to just buy your own.

Sharp-eyed shoppers noticed a listing on Craigslist this week an entire ghost town for sale.

Cabin Creek, Colorado covers about five acres and includes a gas station, an eight-room motel coupla houses and a partially working septic system.

Plus, you can make the rules. Isn't that how that works? Maybe not.

Facebook and livestreaming tragedies

Jul 7, 2016
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Molly Wood

The day after police fatally shot Alton Sterling in Baton Rouge, Louisiana, Philando Castile in a suburb of St. Paul, Minnesota was fatally shot in a car. His girlfriend broadcast the aftermath of the shooting live on Facebook. Many people are are arguing that the live video that aired on Facebook is profoundly important to the conversation about race and violence in this country.

Deepa Seetharaman is a reporter covering Facebook and other social media at the Wall Street Journal. Marketplace host Molly Wood talked with her about the role of these live videos in our country today.

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Donna Tam

The median wage of child care workers in the U.S. is $9.77 an hour, and nearly half of those workers receive welfare in some way, according to a report released Thursday.

These findings indicate that child care employees are some of the lowest paid people in the country, according to the Early Childhood Workforce Index, which analyzed the policies and working conditions affecting child care workers and preschool teachers on a state-by-state basis.

S01-6: The road not taken

Jul 7, 2016
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Karen Clark, Amy Scott, Caitlin Esch and Gina Delvac

What's the best path out of poverty--work or education?

Twenty years ago, welfare reformers came to this fork in the road and had to ask the question: Is it better to encourage welfare recipients to get a job, any job? Or is it better to support them while they get training and education that will eventually help them get better-paying jobs?

In the end, welfare reformers adopted a "work-first" strategy that required most folks to work in order to receive cash welfare.

In this episode, the what if....

Monthly jobs report looking in good shape

Jul 7, 2016

On today's show, we'll look about expectations for Friday's job numbers; the world of independent contracting; and Pepsi's second-quarter earnings.

'Big yogurt' just got much bigger

Jul 7, 2016
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Lane Wallace

Shares in French yogurt company Danone were up Thursday morning after the company announced plans to buy Denver-based WhiteWave foods for roughly $12.5 billion.

Danone is the world’s largest yogurt maker, and owns major brands including Evian Water and Oikos Greek Yogurt. WhiteWave produces high-end breakfast brands like Silk soymilk and Horizon Organic, as well as the salad company Earthbound Farms.

Egg producers skittish about cage-free investments

Jul 7, 2016
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Annie Baxter

Over the past year, many big food companies like Wal-Mart, General Mills and McDonald’s have pledged to source their eggs from cage-free hens in coming years.

That has put a lot of pressure on egg producers to ditch their cages, which means higher costs. New equipment is expensive, and labor and feed costs spike, too.  

Despite the wave of companies going cage-free, those premium eggs simply are not selling well. And that’s making producers hesitate to invest in cage-free systems.

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Renata Sago

There’s a tradition in Brazil: When a kid turns fifteen years old, they either get a big party or a group trip to Orlando away from their parents.

Usually, the latter option wins.

“Everybody wants to come to Orlando. Disney is the best thing ever. It’s when you are 15, everybody dreams to see Mickey, Minnie,” Victor Costa said, who works for Pegasus Transportation. The travel company is one of more than a dozen in the city that cater to Brazilians. With more than 700,000 of them coming each year, they are Orlando’s most coveted group of Latin American tourists.

Now hiring: Hedgehog Officer

Jul 6, 2016
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Adrienne Hill

A job with perhaps the world's best title: Hedgehog Officer.

If you've got a job title better than that, I want to hear about it.

According to the Telegraph, Suffolk Wildlife Trust, in the U.K. is looking for hedgehog officer who "will be the face of hedgehog conservation in Ipswich."

Turns out Ipswich is on a mission to become the most hedgehog friendly town in the U.K. Bold.

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