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 Tuesday, April 28, 2015: You'd think the relatively low cost of gas would have changed this headline a little bit more...But nope. Oil companies BP and Total both announced better than expected earnings numbers today. More on that. Next, Nepal has been devastated by the weekend’s earthquake, which has killed thousands of people and damaged infrastructure worth billions of dollars. The country is calling for aid but how does the dollar given by a donor actually get to help people on the ground in one of the world’s poorest economies? And millions of high school students are nervously cramming for Advanced Placement exams, which start next week. But there won't be nearly as many low-income and minority kids in those seats as there could be. This is what's known as the participation gap. And it's the reason a group of education and business organizations will today announce a $100 million initiative aimed at getting more minority and low-come students students into AP and International Baccalaureate classes.
Airing on Monday, April 27, 2015: First up, the once powerful leader of one of the controlling clans at the German automaker Volkswagen has resigned after provoking then losing a power struggle. More on that. Plus, insurance rates for vehicles vary widely from state to state, a new survey shows. We look at state regulations and other factors that explain the differences. And you know when you go to your Uncle Freddie and ask to borrow money? You know, instead of putting on a tie and going to plead at a bank? Renaud Laplanche is CEO of a San Francisco-based company called Lending Club where Uncle Freddie types with money to lend can mix and match with people who need money. We talk to Mr. Laplanche to figure out just how it works.
Airing on Friday, April 24, 2015: A merger of cable giants Comcast and Time Warner Cable appears to be off the table. Several media reports cite sources in position to know, suggesting the union will be abandoned mainly because U.S. regulators think it would be—in the end—anti-competitive. Next, Democrat Sen. Patty Murray plans to introduce a bill to Congress in the next few days that would increase the minimum wage to $12 by 2020. Democrats are rallying around this plan. We look at the broad details of this proposal and ask why $12 as opposed to $15, which labor groups have been fighting for, or $10.10, which the White House has backed. We'll also talk to Dan Nardello, CEO of Nardello & Co, about labor violations at NYU’s Abu Dhabi campus.
Airing on Thursday, April 23, 2015: The internet was first called DARPA net; the D for defense. The association between the U.S. military and digital communications has a rich history. Now, the Pentagon is poised to launch a cybersecuritiy strategy that will include a new outpost in California's Silicon Valley. More on that. And Coke reported improved earnings this week despite long-term fall-offs in soda sales. Pepsi will share its earnings Thursday. In addition to cutting costs, Coke’s seemingly successful strategy has included promoting smaller – more expensive – containers for its soda beverages. We'll take a closer look. Plus, it's going to be up to a jury to decide a case that may have huge implications for the summon-a-ride-by-smartphone industry in California. A key question in some state courts: whether people who drive for ride-sharing services like Uber and Lyft are contractors or employees.
Airing on Wednesday, April 22, 2015: May 6th 2010 at 2:42 pm Wall Street Time, the Dow began a sickening slide of more than 1000 points in just a matter of minutes. By shortly after 3 PM, prices had largely recovered. What came to be known as the "Flash Crash" freaked everybody out and led to new circuitbreakers built into markets. A post mortem later showed that a single big trade by a financial firm may have precipatated this, but that high frequency traders made things worse. With that background, here's the news: authorities in London have now arrested a high frequency trader, 36 year old Navinder Singh Sarao, for allegedly trying to manipulate the market during the flash crash—perhaps single-handedly, using commercially available software. More on that. Plus, we'll talk to Kristen Lewis, co-director of Measure of America, about well-being in the U.S. and variations between congressional districts.
Airing on Tuesday, April 21, 2015: Gazprom of Russia could face formal antitrust charges in the European Union. Several published reports say confirmation could come as early as tomorrow. Gazprom is a major supplier of natural gas to Western Europe and charges could further curdle already soured relations between the EU and Russia following the crisis in Ukraine. Plus step by step, we're getting closer to the driverless car. Technology to prevent front-end crashes is now available on some new cars, which include certain models by Mercedes, Volvo and Cadillac. Subaru's version is called EyeSight, and the automaker offers it on five of this year's models. We explore how this sort of thing works. Then, we'll talk about the man who spotted what he believed was persistent fraud by his employer, and chose to report it to the SEC. The man's name is Tony Menendez, and his employer was Halliburton. We have more on his decision to do what he considered to be the right thing, which has plunged his life into legal purgatory for almost a decade.