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 New York Fed is a special case: more powerful than other regional Feds, more influential within the Federal Reserve system, and therefore more at risk of being influenced by the big banks. Plus, the Cystic Fibrosis Foundation is set to reap more than $3 billion from an investment in a drug to treat the lung disease. One person's cost to use the drug? $300,000 a year. Finally, the Class Dojo app does a 180 after being outed by the New York Times for collecting classroom behavior data on kids. We look at third-party classroom apps and the push against data collection.
The Senate votes today on a bill to get the Keystone Pipeline from Canada approved. Does the pipeline really matter much at this point? Plus, the morning news slot is very profitable for television networks such as NBC and ABC, bringing in lots of advertising dollars. The recent firing of Jamie Horowitz at NBC's “Today” show, however, indicates that the networks are struggling to get the programming mix just right during this golden moment.
States that count on revenue from oil severance taxes are running into budget problems as oil prices fall, reducing that revenue. Plus, Facebook is said to be working on a new “Facebook at Work” platform that would let users collaborate on documents, chat with colleagues, etc. We look at the growing attention on the enterprise market.
ISIS wants to make, distribute and regulate its own coins, but there are all sorts of problems with creating a currency out of precious metals. Plus, S&P just gave Twitter a BB junk rating. Junk!?!? Does that mean Twitter is destined for the trash pile? Not really. It simply means that it’s carrying a lot of debt relative to its earnings. Finally, car makers are agreeing to voluntary privacy standards for all data being collected by in-car computers. But what data is being collected and how could its use or release affect you?
The U.S. signed a trade agreement with India this week and also one with China to do with tariffs on tech products. They’re being heralded as major trade pacts, so why the flurry of deals now? Plus, Warren Buffett is buying Duracell from Proctor & Gamble with P&G stock. We look at how he plays the market in order to get big tax advantages. Finally, Hasbro is said to be interested in buying Dreamworks. It would give the toymaker an easy way to promote its products beyond stores shelves.
China agreed to cap emissions. How are the goals stated by China and U.S. attainable, and who would be the winners and losers? Plus, banks are being fined because their traders manipulated the foreign exchange markets. We look at how and why the offenders did what was thought to be impossible. Finally, Hostess Brands, which makes Twinkies and other snacks, was bought out of bankruptcy last year by a private equity firm. Now it’s about to be sold on for $1.5 billion. We explain how the Twinkie-maker was saved by private equity.