Business news

SoftBank to buy ARM for $32 billion

Jul 18, 2016
Lane Wallace

SoftBank, a Japanese telecommunications firm, is buying the British chip company ARM, which designs tiny processors that go in phones and computers all over the world.  

This deal is valued at more than $32 billion, and comes as the British pound is down against the yen.

What's in store for Turkey's future

Jul 18, 2016
David Brancaccio

After a military-backed coup in Turkey failed over the weekend, forces loyal to the country's government have been rounding up perceived opponents of the regime. But the Turkish economy continues to function, despite the region's political turmoil. Its currency, the lira, fell 4.6 percent on Friday as the news broke, but has recovered about half of that in trading so far today.

What does this all mean for Turkey's future? Or even Europe's future?  Ian Bremmer, the president and cofounder of the Eurasia Group, joined us to talk about where the country seems to be headed.

Inside and outside the fence

Jul 18, 2016
Andrea Seabrook, Nancy Marshall-Genzer and Katie Long

From the Republican National Convention in Cleveland, we take a look at the barriers between the convention and the city — physical and psychological — and ask, who is this convention really for, anyway?

D Gorenstein

It’s a landmark day for transgender Americans.

Under a new policy from the U.S. Department of Health and Human Services, doctors and hospitals that receive federal funding face penalties if they discriminate against people based on their gender or their gender identity.

One study shows 70 percent of transgender people have experienced discrimination in health care.

Far from convention lights, life in Cleveland, Mississippi

Jul 15, 2016
Kai Ryssdal and Tommy Andres

As part of our collaborative series with PBS NewsHour and Frontline called "How the Deck is Stacked," we're examining how race, poverty and economic mobility intersect in America.

The Republican National Convention kicks off in Cleveland, Ohio, on Monday. 

Marketplace Weekend for Friday, July 15, 2016

Jul 15, 2016

On this episode of Marketplace Weekend, guest host Molly Wood goes long and short on the week's news with panelists Kimberly Adams of Marketplace and Mike Isaac of the New York Times. We hear the story of how Austin rideshare companies have reacted to the ouster of Uber and Lyft, and our listeners weigh in on the ongoing conversation about what makes a good boss. Lizzie O'Leary reports from Germany on how refugees and immigrants are integrated into the workforce there -- she also speaks with Molly about her reporting trip to Germany and the UK.

Tony Wagner

When Britain shocked the world by voting to leave the EU a few weeks ago, we weren't the only ones thinking about how affordable British vacation might be. Searches for flights to the U.K. spiked across Europe the day after the vote, and flights from the U.S.

Mark Garrison

The U.K.’s vote to leave the European Union is raising questions about how America’s business ties with Britain may change.

We wanted to talk about the issue with Antonia Romeo, the U.K.'s new Consul General in New York and the Director General of Economic and Commercial Affairs USA. A big part of her new job is keeping ties with the American business community strong, which has created new challenges following the Brexit vote. 

On starting her job under different circumstances than she might have expected:

Bank earnings show higher lending at lower rates

Jul 15, 2016
Amy Scott

Banks are the name of the game Friday, as Wall Street digests quarterly earnings news from Wells Fargo, Citigroup and others. Citi beat analyst expectations, though profit fell by 17 percent from a year ago to $4 billion. Wells Fargo's net income fell to $5.6 billion, down from $5.7 billion in the second quarter of 2015.

The announcements follow Thursday’s better-than-expected report from JPMorgan Chase. After a rocky first quarter for many banks, JPMorgan made $6.2 billion in the second quarter, fueled by strong trading profits and growth in lending.

Bill to require GMO labeling passes Congress

Jul 15, 2016
Lane Wallace

A bill that would require some sort of GMO labeling on food packaging is headed to President Barack Obama’s desk after years of wrangling, and many say it’s a fair compromise.

But passing the bill doesn’t end the debate over how to signal when foods have genetically modified ingredients.

The federal bill would override a labeling law that just went into effect in Vermont.  

In this episode of Three Broke Mice, we’re navigating our way into the complex and increasingly profitable world of the emoji. If you’re not familiar with the concept, they’re colorful icons—from funny faces to food to symbols—loved by smartphone and social media users the world over.

Kai Ryssdal

No matter how you feel about her, you're gonna have to admit Hillary Clinton made a pretty good joke today.

At a rally in Virginia, the all but certain Democratic nominee tapped into "Pokémon Go," the cultural phenom of the moment:

The middle class vacation squeeze

Jul 14, 2016
Mitchell Hartman

Sara Williams, 30,  has not taken a vacation of one week or longer in more than five years.

She's among those who participated in the Marketplace-Edison Research poll. She's a military veteran married to a veteran; they both attended Colorado State University on the G-I bill. They have since settled down in Fort Collins — a cozy college town at the foothills of the Colorado Rockies. They both found jobs after graduating: she is an office administrator, he is a software engineer.

Donna Tam

Oh, “Pokémon Go.” Will brands ever stop loving this game?

In a grab for consumers, T-Mobile announced Thursday it won’t charge customers for data used while playing “Pokémon Go.”

Donna Tam

New Orleans prosecutors will soon be able to search through police body camera footage for specific people or incidents, cutting down on the time required to comb through hours of video.

The Orleans Parish District Attorney’s office is adopting a technology that organizes footage by analyzing video frames for faces, text and audio, and tags and adds time stamps to the files’ metadata, the company behind the technology announced Thursday.

On today's show, we'll talk about economic uncertainty and the Fed's future plans; the popularity of messaging app Line; and India's relationship with gold. 

Tony Wagner

The emoji-friendly messaging company Line started trading on the New York Stock Exchange Thursday morning, opening at $42 a share— nearly 30 percent more than its initial offering of $32.84.  It closed at $41.58, giving it a market value of around $8 billion. 

Lane Wallace

New foreclosure data out Thursday from research firm RealtyTrac show foreclosures are down, but there are still some rough spots. The first six months of 2016 saw 11 percent fewer filings than the same period last year, and the month of June saw a 10-year low.

Gold's popularity in India

Jul 14, 2016

Whether it's at weddings, festivals or religious ceremonies, gold is extremely popular in India. It's thought that about 20,000 tons are stashed away in homes, businesses and temple vaults. Now the government is offering incentives to get some of that gold back into the economy. 

Click the above audio player to hear the full report from the BBC's Shilpa Kannan.

Reema Khrais

When we talk about rising inequality, we typically think about the rich getting richer and the poor getting poorer. But a new report from McKinsey Global Institute points to another grim reality: an increasing proportion of today’s younger generation is at risk of ending up poorer than their parents.

Between 2005 and 2014, up to 70 percent of households in advanced economies had flat or falling incomes, according to the report. That compares with less than 2 percent of households in the previous decade.

It's that time again: the Fed's Beige Book is out

Jul 13, 2016
Kai Ryssdal

No joke one of my favorite days of the economic year because the Fed came out with the Beige Book today — its eight-times-a-year regional breakdown of the U.S. economy.

Here, courtesy of the Real Time Economics blog at Wall Street Journal, are some of the highlights.

From the Boston Fed this quote:

Stock buybacks break records, prop up markets

Jul 13, 2016
Sabri Ben-Achour

The first quarter of 2016 saw more stock buybacks than at any time since late 2007, just before the recession - $166 billion dollars worth according to research firm Factset. The controversial practice is used to drive up a company’s stock prices, but some argue it is done at the cost of a company’s long-term health and rewards shareholders over all other stakeholders in a company. 

Click the audio player above to hear the full story.

Negative yields may be good for U.S. borrowers

Jul 13, 2016
Donna Tam

Germany’s historic sale of 10-year bonds at a negative yield Wednesday reflects the economic turmoil in Europe and elsewhere, but it could also stimulate demand for U.S. treasuries.

America is rigged, Trump says. Many of you agree.

Jul 13, 2016

During a late night appearance on “The O’Reilly Factor” Tuesday night, presumptive Republican nominee Donald Trump claimed that the American system is “rigged.”   

“Well, I’ve been saying, even against me the system is rigged. When I ran for president, I mean, I could see what was going on with the system, and the system is rigged,” Trump said.


A potential Italian crisis on our hands

Jul 13, 2016

On today's show, we'll talk about Italy's economic issues, which include high unemployment; a new class of generic drugs that could save us billions; and Ireland's 26.3 percent GDP growth.

IMF cuts Italy's growth forecasts

Jul 13, 2016
Gigi Douban

The International Monetary Fund has knocked down its economic growth projections for Italy, putting it below 1 percent for this year, and projecting it will hover at about 1 percent in 2017. Italy’s looking at two decades’ worth of lost growth, according to the IMF. The country faces challenges on several fronts: a government debt that’s nearly 133 percent of GDP and high unemployment, to name a few. A long road to recovery doesn’t even begin to tell the story. 

D Gorenstein

Europe is home to a growing class of generic drugs, called "biosimilars," that can treat conditions like cancer and rheumatoid arthritis.

While folks on that side of the Atlantic have about 20 of these new generics on the market so far, the Food and Drug Administration has just approved two in the U.S.

Are people taking Pokemon Go too far?

Jul 12, 2016
Kai Ryssdal

A quick follow to our story about Pokemon Go yesterday.

We told you people are basically playing that game everywhere.

Well, from the Marketplace Desk of Too Much of a Good Thing these updates:

The National Highway Traffic Safety Administration is warning people not to play the game while driving:

Kim Adams

Senator Bernie Sanders endorsed former Secretary of State Hillary Clinton for President on Tuesday. Of course, she'd already racked up enough delegates weeks ago to clinch the nomination — technically, anyway.  

But that doesn't mean Sanders doesn't have something Clinton still needs.  

How Helen Gurley Brown made sex profitable

Jul 12, 2016
Kai Ryssdal

It's a very long way from the Ozark mountains of Arkansas to the top ranks of the publishing world in Manhattan. But it's a distance Helen Gurley Brown made, although not without some bumps along the way. She eventually became a best selling author, a feminist icon, and a very successful business woman.