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, January 16, 2015: Players in financial markets and some homeowners in Europe feel like they just got mugged by Switzerland. More on that. Plus, there's news the oil services company Schlumberger will cut 9000 jobs. But to bring this right down to an even more intimate level, let's turn to the town of Lorain, Ohio, west of Cleveland. Once economically distressed, jobs poured in at the U.S. steel plant in Lorain, to make pipes for domestic shale oil production. Now that crude oil is trading at less than half the price it was in June, there's word that more than 600 workers (nearly everyone) at the plant will lose their jobs.
Airing on Thursday, January 15, 2015: Until today, Switzerland had a policy that it would never let the Euro fall below a specific floor. A Euro would be worth 1.2 swiss franc, at the very least. But as the Euro's value kept drooping with all the uncertainty of a Greek General Election on the way, it was costing Swiss banking authorities a fortune to keep that floor in place. Today, without warning, Switzerland let go of the euro, and the franc shot up. More on that. Plus, some real estate experts are now suggesting the America's terrible foreclosure crisis may be over, by one key measure. RealtyTrac is out with its 2014 report on mortgage-delinquencies, foreclosure auctions, and bank repos-and the rate at which Americans are losing their homes because they can't pay the mortgage is now back to pre-recession levels. Plus, a friendly reminder that explaining the gyrations of the stock market can be like staring at clouds long enough to see shapes of animals or faces.
Airing on Wednesday, January 14, 2015: The European Union's highest court has just passed judgement on the idea of Europe buying bonds to stimulate the economy there. It would be a version of Quantitative Easing from which America's Federal Reserve has just tapered. More on that. Plus, all eyes are on the big banks this week as they report their latest earnings. How has the plunge in oil prices affected their bottom-line? And from the North American International Car Show in Detroit, we'll talk about the electric car that might go as far as a Tesla at a quarter of the price.
Airing Tuesday, January 13, 2015: Crude oil prices continue to slide, and now British inflation is sliding along with it. More on that. Plus, Detroit is hosting North American International Auto Show this week. There are a few new green offerings on display like a new re-designed Chevy Volt and a diesel plug-in hybrid version of the Audi Q7, but some car shoppers have lost their enthusiasm for high-mileage vehicles. Plus, the number of dorms that are closed on college campuses during the holidays is slowly decreasing as students are increasingly unable to afford to head home for the holidays.
Airing Monday, January 12, 2015: First up on today's show, as is a Wall Street tradition, the first big quarterly profit report of the season is Alcoa, the aluminum concern that reports results later today. Alcoa used to be one of the components of the Dow Jones Industrial Average, but is no longer. But they've been on a roll lately, as we find out. And a general election is on the way this month in Greece, and a left wing party is promising to renegotiate terms of Greece's debt if it gets in. The present government is now responding in an effort to hold onto power. More on that. Plus, during these short winter days, if only somebody could write out a prescription for happiness. Well, the people who produce Yes! Magazine have just published a collection of essays about rethinking our economic and social relationships.
Airing Friday, January 9, 2015: First up on today's show, we'll have a look ahead to the jobs report coming later this morning. Plus, in Education Week’s annual “Quality Counts” report on the state of public education, the country as a whole gets a D-plus on early childhood education. What does it mean for our society and economy to be doing such a bad job of preparing kids for school? And you may be aware that New York is infamous for its tiny, scurrying rats. But what about their giant, inflatable brethren? We look at the business behind Scabby, the union rat.