Marketplace Morning Report
Start your day with an up-to-the-minute report on the world of business and finance with host David Brancaccio.
Outsourcing giant Infosys faces a record immigration fine over worker visas. Southern Airways Express flies small planes out of small airports, a no-hassle alternative to driving a few hundred miles. And, cocoa prices are near record highs, as farmers who have switched to more lucrative crops have driven down supply.
One year after Hurricane Sandy, a Staten Island neighborhood is lost forever. And, India wants more foreign banks to lend in rural areas. But will the new rules appeal to the banks?
A little good news on the economic front. Maybe. Maybe? No matter how many handsets Samsung sells, Apple may always dominate the conversation. And, the number of Vermont microbreweries has doubled in the last five years. There are now 32 craft breweries, and several more are being planned.
Amazon is looking to grow and dominate, and is willing to sink billions into risky ventures like its streaming video service. New rules will require brokers to disclose signing bonuses. And, the price of natural gas so cheap, manufacturing is coming back to America.
The SEC considers rules for allowing companies to raise money online. The city of Detroit tells a judge it can't pay for the $18 billion in long-term liabilities it has accumulated.
The Bureau of Labor Statistics reports that the economy added 148,000 jobs last month. The unemployment rate fell to 7.2 percent. And, new exposé in The Huffington Post describes startling allegations of abuse and neglect at for-profit juvenile prisons.