Marketplace Morning Report
Start your day with an up-to-the-minute report on the world of business and finance with host David Brancaccio.
First up on today's show: corruption, international soccer, and corporate sponsorship. Several published reports today say the Japanese entertainment and electronics giant Sony is drop its sponsorship of World Cup soccer. More on that. And the latest U.S. housing numbers come out Tuesday. In recent months, luxury homes have been particularly doing well. This is due in part to overseas investors. Is this international speculation good for the housing market? Plus, a moment of reflection about America's innovation economy. We know that in technology hubs like Silicon Valley, it's cool to fail. That's the mark of a seasoned, risk taking entrepreneur, having tried, failed and tried again. It may also be cool to draw a mediocre salary. That's the argument of one of America's leading technology venture capitalist, who says he looks for low salaries at the top of start ups when he's thinking about investing. Peter Thiel was also a co-founder of Paypal and the first outside investor in Facebook. We spoke with him at his offices in San Francisco.
Monday is the deadline for a deal in Iran’s nuclear talks. It’s a case where oil sanctions have been seen as successful in bringing Iran to the table, but unwinding those sanctions could prove tricky, because of all the parties involved. And when that does happen, Iran’s oil exports could add to the worldwide glut of oil. Plus, at a time that Russia calculates it's losing $40 billion a year because of Western sanctions stemming from the situation in Ukraine, the falling global price of crude oil is not helping. Russia is a huge energy producer and some Russian officials can't shake the idea that the low prices are a plot designed to hurt Russia. More on that. And when you think of "Turkey," you might think of the country in West Asia and Southeast Europe. This time of year, Turkey could mean a "large, gallinaceous bird." Or Turkey: a flop, a dud. Marketplace regular and Fortune Magazine senior editor at large Alan Sloan uses the last definition on this Thanksgiving Week, as he looks at the business turkeys of 2014.
You've been hearing about President Barack Obama's speech last night announcing he will protect some 5 million undocumented workers from deportation. However, the President will not allow this group to get healthcare coverage under the Affordable Care Act. So why is healthcare not part of the deal? And in honor of Marketplace's 25th anniversary, we're looking at some of the surprising ways prices have changed over the last quarter century. Today, art. Specifically, the prices of art considered so fine it's worth millions.
On today's show: President Barack Obama speaks tonight on his plans to change America's immigration rules; executive orders that he believes do not need Congressional approval. Perhaps five million deportations might be stopped. More details will emerge tonight, but first, we take a closer look at who this could affect, and what it might mean for them. Plus, with air fares remaining high, road trips are likely going to be the preferred mode of travel this Thanksgiving. We also look at the price difference between flying and driving, and how these shifts impact people's holiday travel decisions. And there's this term "digerati," meaning the folks most handy with all that is digital, online, and mobile. Visualize for a moment a digerata or digeratus … How old were you thinking? A 20-something, or maybe a 30-something with a pork pie hat? But what about retirees?
Today, in Australia there's new allegations about the rigging a key interest rate there. More on that. And Target reports earnings Wednesday. It’s been about a year since a massive data breach affected customers. We take stock of the strategies that have and haven't worked for Target since then. Plus, as marijuana is increasingly legalized in some states, the marketing geniuses are at work. Some day soon, might there be a brand that is to Cannabis, as say, "Coca-Cola" is to brown fizzy water?
There is a warm, happy glow radiating from Wall Street these days that may have to do the with the money coming in during this golden era of mergers and acquisitions. This year, firms have spent $1.5 trillion buying U.S. companies, the most of the millennium so far, according to Thompson Reuters. More on that. And nearly 3 million children are homeless at some point during the year, according to a new report. California has by far the most homeless children, and not just because it’s the biggest state – it has the highest cost of living and the smallest share of affordable housing. Plus, drinking from the fountain of youth can sometimes be hazardous. More recently, people are trying everything from red wine pills to cream made out of snail slime to try to stay young. We take a look at some of the research behind the business of anti-aging.