Marketplace Morning Report
Start your day with an up-to-the-minute report on the world of business and finance with host David Brancaccio.
The president leaves for a trip to Asia on Sunday, with stops in China, Burma and an economic summit in Australia. We preview the economic objectives of the trip, and ask to what degree it signals a shift to international priorities. Plus, New York Comptroller Scott Stringer is teaming up with institutional investors to lobby 75 companies to allow shareholders to nominate directors for election to their boards. This is a bold move to make boards more accountable, and it’s supported by some heavyweight investors.
Hackers are attacking iPhone and iPad users in China. They've been able to break into Apple's closed system with a new piece of "malicious software," or malware. We'll talk about the spread of the bug on today's show. Plus, with Republican gains in the Senate and some gubernatorial races, many are wondering whether attempts will be made to repeal the Affordable Care Act. Even if this is not done, there are other moves that can be taken to reduce the Act’s scope. And there's an exhibit at the Museum of Modern Art in New York of Henri Matisse's cutouts. Matisse made many of these pieces when he was in his 80s, and that got Chris Farrell, Marketplace's economics guy, thinking about aging and creativity. More on that.
As you've been hearing, come January, Republicans will control both houses of Congress, with a new slim majority in the Senate and the largest majority in the House since the Harry Truman administration. Republicans will not have the numbers on their own to override Presidential vetos, so sweeping legislative changes are unlikely in the next two years. But the new Congress and the White House might find common ground in a key area that could affect businesses and the labor market. More on that. And though they’re in a lame duck session, there are still some economic priorities Congress must address before the year is out, most notably in coming up with a way to keep the government funded past December 12. Plus, Disney's Mickey Mouse takes issue with the "mouse head" logo of a Canadian techno DJ. We look at the intellectual property battle headed to court.
Can decent U.S. economic growth help perk up Europe, or will Europe's flagging economy drag the rest of the world in the wrong direction? Currently, things are looking droopy in Europe, with the Europen Union lowering its forecast for growth across the countries that use the Euro. More on that. Plus, travel company Priceline will report third quarter profits today. That report should give us a glimpse into Priceline's strategy of growing by buying up other companies. And it's common for CEOs or high powered senior managers to sign non-compete agreements, meaning they can't go work for a competing company soon after leaving your job. But increasingly, these agreements are filtering down to lower wage, service-sector workers. Note recent headlines that Jimmy Johns required its sandwich shop employees to sign the agreements.We take a closer look.
Proctor & Gamble of Cincinnati finds itself with a big problem today in Latin America: the biggest soap and household products company on the planet has been ordered to suspend its operations in Argentina. Why? The Argentine government accuses Procter & Gamble of an elaborate tax swindle. Also on the show, the boss at the one of the most recognizable brands in America stopped by the other day. Howard Schultz CEO of Starbuck's has a new book that comes out tomorrow, titled "For Love of Country: What Our Veterans Can Teach Us About Citizenship, Heroism, and Sacrifice." His co-author also came in: Rajiv Chandrasekarin, a Washington Post reporter who covered the wars in Iraq and Afghanistan. Starbuck's has pledged to hire 10,000 veterans and their spouses within five years.
A breathtaking surprise—without warning—Japan's central bank dramatically increased its stimulus. The Bank of Japan will now buy another mountain of government bonds to pump cash into an economy that's been drooping for decades. The key stock index in Tokyo, the Nikkei, went up four point 8 percent today. That's a seven year high and is like the Dow going 825 points in a single day. More on that. And in honor of Marketplace's 25th anniversary this year, we're looking at some of the surprising ways prices have changed over the last quarter century. So naturally we looked at the cost of going to college. Tuition and fees at public universities have risen more than 185 percent adjusted for inflation since we first went on the air. But that's just part of the story.