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, January 20, 2015: First up, more on those tax hikes at the top and tax help at the bottom that the President is set to unveil tonight. And China today said its economy is grew by just 7.4 percent for 2014, down from 7.7 percent the year earlier. Growth has been this low there since 1990. While it's true that China's been suffering from rising debt levels and a grim housing market, the news isn't necessarily viewed as grim. Plus, you hear about the average national gasoline price, but it’s often different from the station down the block. Gas prices differ from region to region for many reasons, from transportation costs to refinery capacities to local requirements for blends.
Airing on Monday, January 19, 2015: First up on today's show, stock prices tumble in China after authorities try stop investors from getting too crazy with their trading. This after Chinese regulators ordered brokerages to stop letting investors borrow money to buy stocks for three months. More on that. Plus, Radio Shack, which continues its slow death, says it would have liked to close more stores, but the costs were too high. Target and Wet Seal are also shuttering lots of stores. We look at the high cost of closing. And fracking for oil and gas has made sand a $10 billion dollar industry, consuming about a hundred-billion pounds every year; much of it from a few midwestern states. Wisconsin has more sand mines than any other state, with more than 60 active mines and permits issued for many more. The industry has grown faster than regulators can to keep up.
Airing on Friday, January 16, 2015: Players in financial markets and some homeowners in Europe feel like they just got mugged by Switzerland. More on that. Plus, there's news the oil services company Schlumberger will cut 9000 jobs. But to bring this right down to an even more intimate level, let's turn to the town of Lorain, Ohio, west of Cleveland. Once economically distressed, jobs poured in at the U.S. steel plant in Lorain, to make pipes for domestic shale oil production. Now that crude oil is trading at less than half the price it was in June, there's word that more than 600 workers (nearly everyone) at the plant will lose their jobs.
Airing on Thursday, January 15, 2015: Until today, Switzerland had a policy that it would never let the Euro fall below a specific floor. A Euro would be worth 1.2 swiss franc, at the very least. But as the Euro's value kept drooping with all the uncertainty of a Greek General Election on the way, it was costing Swiss banking authorities a fortune to keep that floor in place. Today, without warning, Switzerland let go of the euro, and the franc shot up. More on that. Plus, some real estate experts are now suggesting the America's terrible foreclosure crisis may be over, by one key measure. RealtyTrac is out with its 2014 report on mortgage-delinquencies, foreclosure auctions, and bank repos-and the rate at which Americans are losing their homes because they can't pay the mortgage is now back to pre-recession levels. Plus, a friendly reminder that explaining the gyrations of the stock market can be like staring at clouds long enough to see shapes of animals or faces.
Airing on Wednesday, January 14, 2015: The European Union's highest court has just passed judgement on the idea of Europe buying bonds to stimulate the economy there. It would be a version of Quantitative Easing from which America's Federal Reserve has just tapered. More on that. Plus, all eyes are on the big banks this week as they report their latest earnings. How has the plunge in oil prices affected their bottom-line? And from the North American International Car Show in Detroit, we'll talk about the electric car that might go as far as a Tesla at a quarter of the price.
Airing Tuesday, January 13, 2015: Crude oil prices continue to slide, and now British inflation is sliding along with it. More on that. Plus, Detroit is hosting North American International Auto Show this week. There are a few new green offerings on display like a new re-designed Chevy Volt and a diesel plug-in hybrid version of the Audi Q7, but some car shoppers have lost their enthusiasm for high-mileage vehicles. Plus, the number of dorms that are closed on college campuses during the holidays is slowly decreasing as students are increasingly unable to afford to head home for the holidays.