Marketplace Morning Report
Start your day with an up-to-the-minute report on the world of business and finance with host David Brancaccio.
(Markets Edition) The GOP is getting closer to tax reform following the Senate's approval of a budget resolution, which could mean $1.5 trillion in tax cuts. Chris Low from FTN Financial joined us to talk about how interest rates will play a role in making up that lost revenue, a crucial point going forward given that Trump has to select the next Fed chair soon. Afterwards, we'll discuss Japan's upcoming snap election, in which the current prime minister, Shinzo Abe, is expected to retain power. And to cap off the show, we'll look at how one business incubator in the Mexican city of Ciudad Juarez is trying to turn the area into an innovation-based economy.
(U.S. Edition) The Senate has approved a $4 trillion budget, checking one of the boxes the GOP needs before it pushes a tax overhaul. We'll look at how this will help Republicans' tax efforts, and whether the budget provides anymore clues about the party's plans for tax reform. Afterwards, we'll discuss Walmart's courtship of Lord & Taylor, one of the country's oldest department stores, and then report on the emerging demand for "greener" aluminum.
(Global edition) From the BBC World Service ... German Chancellor Angela Merkel might have thrown British Prime Minister Theresa May a Brexit lifeline overnight, but will it be enough to reignite dialogue between the UK and the EU on their looming divorce? Afterwards, we’ll explain why football, kangaroos and meat pies might still be going strong in Australia, but not GM Holden cars, which have hit the brakes on domestic production. Then, we’ll take you to Gambia where a “back way” migration route is leading 6,000 young men to Italy – and leaving their home country virtually empty of young males.
(Markets Edition) In the third quarter, investors pulled $36 billion out of mutual and exchange-traded funds in the U.S. Diane Swonk, from DS Economics, stopped by to chat with us about the decrease in the number of Americans who own stocks, and the rising trend of people who are borrowing against their own 401(k)s. Afterwards, we'll discuss companies that the stock market loves despite their unimpressive or completely non-existent profits, like Uber and Netflix.
(U.S. Edition) U.S. authorities are reportedly looking at connections some U.S. individuals may have to South Africa's Gupta family, which is currently embroiled in a series of scandals. We'll look at the family's background and their political influence. Afterwards, we'll discuss a new report that says the aging experience will be different for younger generations. One of these changes: growing inequality. Afterwards, we'll look back at a major event in our financial history, which happened 30 years ago today. On Black Monday, the stock market experienced the largest single-day ever.
(Global Edition) From the BBC World Service ... China's economic growth data came in better than expected today, just as the ruling Communist Party's once-every-five-years conference gets underway. But can the numbers be trusted? Afterwards — it's the 30th anniversary of Black Monday, the single-biggest daily decline in U.S. stock markets. The panic then rippled across the world, leading to double digit declines in places from Australia to Spain to Hong Kong. With global markets hitting fresh highs, have we learned any lessons from the intervening three decades? Then, the Hindu festival of Diwali celebrates the triumph of good over evil. But these days in India's polluted capital Delhi, it's also a battle between those who insist on celebrating with traditional fireworks, and those who just want clean air. We look at the winners and losers after the country's highest court banned the sale of fireworks in the capital.