Marketplace Morning Report
Start your day with an up-to-the-minute report on the world of business and finance with host David Brancaccio.
Just how much does Facebook's founder "like" China? Yesterday, Mark Zuckerberg delivered a 30 minute speech, in Mandarin, at Tsinghua University. It's part of a larger effort to court the Chinese market. More on that. Plus: Southwest used to be a small regional airline, and has kept customers on board throughout its growth with a rare lack of fees. Fuel prices should be down, but the company is looking to charge for baggage for the first time, even as it tries to expand overseas. And Microsoft has had three CEOs since it was founded in 1975: Bill Gates, Steve Ballmer, and Satya Nadella, who's been on the job eight months now. As Bethany McLean writes in this month's Vanity Fair magazine, this is a pivotal moment for Microsoft and its leadership as the company shifts focus to cloud computing and mobile devices.
Investors in Europe seem happier today after several big American companies reported stronger than expected earnings. We've talked about last week's market turmoil. When there's that kind of stock market volatility, there's this impulse to attribute it to something. More on that. And a new report from the U.S. Government Accountability Office says that lifting restrictions on exporting crude oil restrictions that have been in place for 40 years could drive down gasoline prices. Well, that report was written more than a month ago, and oh, how things have changed since then. That was before world oil prices and U.S. gasoline prices slid significantly. We look at whether or not that changes the equation.
Investors have been concerned about slow growth in Europe, but now they're looking at China—The country is going to have a hard time hitting its goal for growth it set for this year. More on that. Plus, we head to Staten Island to talk about how Ebola has had an economic impact one of the largest Liberian communities in America.
Today, Apple of Cupertino, California will reveal how much money it's been making. Take those profits, divide by the number of shares, and the result could be a record. But with the release of the new, thinner iPad, there's talk that growth for tablets is slowing. But even beyond tablets and the iPhone, Apple has some other money makers. More on that. And the American Indian College Fund celebrates its 25th anniversary. We look at why American Indians and Alaska Natives make up just 1 percent of college students today and why they are much less likely to graduate than other groups of students. Plus, we're coming up on two years since Hurricane Sandy hit the east coast, wrecking or paralyzing the New Jersey shore, Manhattan, New York's Long Island and beyond. Scientists predict by the middle of this century, low lying areas from Boston to Baltimore will flood frequently due to climate change. These long-term forecasts are putting increasing pressure on state and local governments to boost their financial resilience.
It's the end of what has been a rocky week for investors—One of the worst in years. No markets were immune: commodities took a hit as oil prices continued to fall lower. Investors have been concerned about political upheaval about the spread of ebola. We take a look at the state of the global market. Plus, the midterm elections are just a few weeks away, and according to a new report from the Wesleyan Media Project, campaigns and committees have spent over $917 million dollars on ads. When all's said and done, it's expected they'll have spent a billion. This is a payday for local TV stations, but many politicians and political action committees are buying more and more ads on cable.
Yesterday was another crazy trading day in the U.S. with some big swings. The markets have had a lot to process, and there's a sense among many investors that this kind of volatility's going to continue. More on that. Plus, Facebook's CEO and co-founder, Mark Zuckerberg, made a $25 million donation with his wife, Dr. Priscilla Chan. The money is going to the CDC's philanthropic arm, the CDC Foundation. We speak with her about what motivates the large gift.