Marketplace Morning Report
Start your day with an up-to-the-minute report on the world of business and finance with host David Brancaccio.
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.
In Europe, when it comes to economic growth, they’ll take any glimmer of hope they can find. There were some surprising signs of life this morning in some of the countries that use the euro. More on that. And we look at the trend in falling gas prices, which could really benefit low- and middle-income people, who need more discretionary income, and whose commuting costs can be higher because they often older, less-fuel-efficient vehicles. Plus, this weekend, open enrollment begins as consumers start shopping for insurance. Prices will be changing, plans will be different, and choices often complex. And private industry smells a business opportunity.
Most economists went to bed last night thinking Japan's economy was growing. But there's news today that not only did it not grow, it shrunk to the point that Japan's now in recession. More on that. And what's called the Shanghai-Hong Kong Stock Connect opens for business today. It's a link between the two stock exchanges that means—for the first time—investors of each market will have access to the other. Here's the thing: this gives international investors a way to invest in mainland China without a lot of fuss. Plus, the Pew Research Center has a report out this month with data showing that many of us feel anxious when managing personal information online. There's a burgeoning industry that attempts to help us with this, but how much can be done?
An issue with India has been papered over—It had been holding up a massive global trade deal that supporters say could add a trillion dollars to the world economy and add 18 million jobs, especially in poor countries. The World Trade Organization has been working on this package of trade liberalization for years, but the U.S. refused to agree because it was thought that a relatively new food security system in India would cause global distortions in trade. More on that. And a new statistics on student loans shows the cost of getting a bachelors degree is still rising. The numbers also show that the average debt for undergraduates sits at $28,400, up 2-percent from last year. And as we find out, the people with the really big debt loads are not the only ones to worry about. Plus, if you've found yourself on a flight recently, knees jammed to your nostrils, consider this: an airline based in the United Arab Emirates is offering what amounts to an apartment ... on an airplane.