Every weekday on Marketplace, Kai Ryssdal hosts a lively and unexpected exploration of the day’s business and economic news from Wall Street to your wallet.
The House elects its new majority leader Thursday, and Kevin McCarthy is expected to win. He’d be the No. 2 person in the caucus, responsible for helping to set the agenda. But the leader has another role that might be even more important: raising money for the party and colleagues, something the recently deposed majority leader, Eric Cantor, was very good at. Plus, millions of recalls are issued every year, but only a fraction of car owners come in for the fix. Why? We look into possible problems on the dealer end, and possible problems on the consumer end. Also, the US Patent office has ruled the Washington Redskins’ name disparages Native Americans and says the team's federal trademarks for the name must be canceled. The team faces a massive potential loss of revenue if others ultimately use the name on tee-shirts and other merchandise. How will the team and the NFL be affected and how are they likely to react?
Consumer Price Index, CPI, is up, but the Fed, which meets tomorrow measures inflation in a different way. Deflation. Inflation. Let’s call the whole thing off. Then, Netflix plans to stream some of its shows, including Breaking Bad and Orange is the New Black, in 4K Ultra HD. But not a lot of people have the ability to watch ultra HD right now. However, this is where the Next Big Thing begins. What's the strategy for taking us as consumers of content, hardware and technology, to the next level? We look at the shape of things to come. Also, a famous baseball player dies of cancer from chewing tobacco. We look at the smokeless tobacco industry, where sales are up
Amid the conflict in Iraq, the international benchmark for oil prices has hit a recent high. We look at what is known as the “comfort zone” as well as how traders factor in a risk premium into their decisions. Plus, Starbucks is upping the ante for low-wage workers by offering partial or full online tuition as ASU. In doing so, the competition to work at Starbucks is going to increase—which may be precisely the point. Also, the Supreme Court today declined to hear Argentina's appeal over its bid to avoid paying $1.33 billion to hedge fund creditors. The claim stems from the country’s historic 2001 default. Argentina is now on the hook to pay up in full and warns this could lead once more to default on its sovereign debt. We examine the implications of the Supreme Court’s decision.
The extremist group that recently seized control of Mosul in Iraq is reported to have bagged $429 million from banks in the oil-trading city. ISIS also levies “taxes” on people in the areas it controls. We look at how ISIS functions as a financial entity, where it get its money, and what the group spends it on? Plus, Priceline is becoming even more of an all-services booking agent as it acquires Open Table. First innovators like Priceline undermined their competition - travel agents - and now their platforms are expanding to simply take their place. What other company has followed this model? In the case of Open Table, Priceline is getting not just a new business - restaurant reservations - but also Open Table’s customer base and platform. Also, a U.S. crackdown on online poker sites chased Full Tilt out of business. Now Full Tilt and associated poker sites may get back into the U.S. by being bought by a Canadian company.
Twitter canned its COO today and said it may not need one after all. Only 60 percent of Fortune 500 companies have one. So what’s the job of a COO? Plus, Amazon’s getting into music streaming now. It's gone down the video streaming route before too. Which raises the question, just what kind of company does it want to be? Also, the average size of a new single-family home in the U.S. continues its upward march… now eclipsing 2,300 square feet. Compare that to the average 40 years ago… just 1,500 square feet. We explain the economics behind the trend – there’s a much better margin in supersized homes.
Twitter and The Weather Channel are teaming up to bring you a new kind of commercial. They've created weather informed ads, which deliver ad content to the user based on the environment about him or her. What does this new kind of advertising mean for consumers? And are there privacy issues involved? Plus, the Professional Golfers' Association, seeing golfers leaving the game by the hundreds of thousands, tells golfers there’s a way to enjoy the game without spending all day on it. Just play half a round. The campaign launches with start of the U.S. Open on Thursday. After, we talk to art critic Blake Gopnik about a “new,” $50-million Rembrandt painting, previously assumed to be a worthless copy. Blake discusses the insanity of a panel of experts deciding what is and isn’t an original work. Also, we talk to Univision’s Leon Krauze, who is at the World Cup in Sao Paolo this week, about how labor and street protests are impacting the tournament. Krauze shares that he’s found that Brazilians are not happy with the World Cup being hosted in their country and feel the financial resources are better spent on education and other public services.