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.
We're getting early reports of a potential $13 billion JP Morgan Chase settlement, of which $4 billion would go to consumers. But how does relief come, when it finally arrives, and for folks stung by the housing crisis, might it amount to too little, too late? Also, with the health care technology issues that continue to get worse, what can the Obama administration do to improve customer experience quickly -- besides giving out a 1-800 number? Finally, that 17th century "it" girl, Vermeer’s Girl with a Pearl Earring, is back in New York for the first time in 30 years.
The government is reopen! That means everything is great, right? Not quite. Our weekly wrappers Nela Richardson and John Carney look back at the tumultuous week and what to expect in the upcoming months from budget battles. A congressional supercommittee has been tasked with coming up with a budget plan both parties can get behind, but what makes this one different than the last supercommittee that couldn't solve the sequester? Members of Congress give their advice. Mercedes-Benz has an aging problem, will they be able to target younger car buyers? And, commuters in the Bay Area are dealing with the latest BART strike between transit worker unions and management. The U.S. director of federal mediating couldn't solve the impasse and went home. What's a federal mediator do, anyway?
There’s a better than average chance that the government could shut down again in a few months if Congress can’t come to an agreement, and that will mean that contractors will lose money -- again. How are they factoring in uncertainty into their operations? Meanwhile, we lost two weeks of government data -- data that helps economists study things and data that helps farmers plant stuff. Finally, Facebook is easing up on teens, giving them the ability to have their posts seen by anyone, not just friends. This catches up to rivals Twitter and Instagram, while opening teens to more advertising, at a time when Facebook appears to be losing popularity among teens.
Congress reached a deal -- and a process -- to avoid a default on U.S. debt and the reopening of the government.
Reports say the House and the Senate may have reached a deal -- and a process -- to avoid a default on U.S. debt and the reopening of the government. But when the federal government reopens its doors, the pent-up demand for government services may be huge. From fishermen needing permits to farmers applying for compensation for deceased cattle, there will be a line around the block. Also, Twitter is out with more numbers about how it makes money, which includes picking up a fee everytime a user refreshes. How much is a refresh worth?
How a deal that delays the debt ceiling fight until Jan. 15 sets up a new fight on the sequester.