Marketplace Morning Report
Start your day with an up-to-the-minute report on the world of business and finance with host David Brancaccio.
Airing on Friday, April 24, 2015: A merger of cable giants Comcast and Time Warner Cable appears to be off the table. Several media reports cite sources in position to know, suggesting the union will be abandoned mainly because U.S. regulators think it would be—in the end—anti-competitive. Next, Democrat Sen. Patty Murray plans to introduce a bill to Congress in the next few days that would increase the minimum wage to $12 by 2020. Democrats are rallying around this plan. We look at the broad details of this proposal and ask why $12 as opposed to $15, which labor groups have been fighting for, or $10.10, which the White House has backed. We'll also talk to Dan Nardello, CEO of Nardello & Co, about labor violations at NYU’s Abu Dhabi campus.
Airing on Thursday, April 23, 2015: The internet was first called DARPA net; the D for defense. The association between the U.S. military and digital communications has a rich history. Now, the Pentagon is poised to launch a cybersecuritiy strategy that will include a new outpost in California's Silicon Valley. More on that. And Coke reported improved earnings this week despite long-term fall-offs in soda sales. Pepsi will share its earnings Thursday. In addition to cutting costs, Coke’s seemingly successful strategy has included promoting smaller – more expensive – containers for its soda beverages. We'll take a closer look. Plus, it's going to be up to a jury to decide a case that may have huge implications for the summon-a-ride-by-smartphone industry in California. A key question in some state courts: whether people who drive for ride-sharing services like Uber and Lyft are contractors or employees.
Airing on Wednesday, April 22, 2015: May 6th 2010 at 2:42 pm Wall Street Time, the Dow began a sickening slide of more than 1000 points in just a matter of minutes. By shortly after 3 PM, prices had largely recovered. What came to be known as the "Flash Crash" freaked everybody out and led to new circuitbreakers built into markets. A post mortem later showed that a single big trade by a financial firm may have precipatated this, but that high frequency traders made things worse. With that background, here's the news: authorities in London have now arrested a high frequency trader, 36 year old Navinder Singh Sarao, for allegedly trying to manipulate the market during the flash crash—perhaps single-handedly, using commercially available software. More on that. Plus, we'll talk to Kristen Lewis, co-director of Measure of America, about well-being in the U.S. and variations between congressional districts.
Airing on Tuesday, April 21, 2015: Gazprom of Russia could face formal antitrust charges in the European Union. Several published reports say confirmation could come as early as tomorrow. Gazprom is a major supplier of natural gas to Western Europe and charges could further curdle already soured relations between the EU and Russia following the crisis in Ukraine. Plus step by step, we're getting closer to the driverless car. Technology to prevent front-end crashes is now available on some new cars, which include certain models by Mercedes, Volvo and Cadillac. Subaru's version is called EyeSight, and the automaker offers it on five of this year's models. We explore how this sort of thing works. Then, we'll talk about the man who spotted what he believed was persistent fraud by his employer, and chose to report it to the SEC. The man's name is Tony Menendez, and his employer was Halliburton. We have more on his decision to do what he considered to be the right thing, which has plunged his life into legal purgatory for almost a decade.
Airing on Monday, April 20, 2015: The stimulus in China today takes this form—banks will need to have less money in reserve when they lend. This will have the effect of letting banks lend perhaps hundreds of billions of dollars worth of new loans. More on that. Next, the NBA plans a basketball clinic in Cuba later this month. The league isn't looking for Cubans who can play professional basketball—it's looking for fans. Plus, years ago, under another name, the shop at 2900 West 87th Street, on Chicago's South Side, was a convenience store, which happened to sell lottery tickets. Then, Mr. Chan Park took over and turned it into Lucky Mart- a kind of Lottery Tickets 'R' Us. Park sold more than $5 million worth of tickets last year.
Airing on Friday, April 17, 2015: With support from the Obama Administration, lawmakers in Congress have introduced a bill to streamline approval of a sweeping trade treaty. The Trans-Pacific Partnership is advertised as liberalizing trade with the US and Canada, Mexico and Chile on this side of the ocean and Japan, Australia, New Zealand, Malaysia, and Singapore on the other. Trans-Pacific negotiations have been proceeding in secret. Next, the promise of America has always been the chance to move up, regardless of where you come from. While statistics show that too often the circumstances of parents dictate the later circumstances of their children, the goal of economic mobility remains an crucial one. And one of the things that stands out as really helpful for mobility is called "social capital."