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.
Oy. Right after the U.K. kicked off the two-year countdown to Brexit in March, Prime Minister Theresa May called for a snap election in hopes of getting a stronger majority in Parliament to negotiate the country’s exit from the European Union. That plan has backfired, leaving May with less support than she started with. We asked our London reporter for an update on the ground there. His assessment: “It’s a pig’s breakfast!” (That's not good.) Then: We'll talk through the week in business and economic news — it's infrastructure week at the White House, remember? Plus, Taylor Swift and Spotify gave us a lesson in why you should never say, "We Are Never Ever Getting Back Together."
The Senate spent most of the day consumed with former FBI director James Comey's testimony on President Trump and Russia. But over on the House side, political theater turned into economic reality with the passage of the Financial Choice Act. We'll talk about what it does, how it relates to the GOP's pledge to dismantle Dodd-Frank and its chances of actually becoming law. Then: Big news out of Kansas got a little lost this week. The state's five-year-old experiment with big income tax cuts ended this week. The idea was that low, low taxes would spur economic growth, but for lawmakers the deficits were just too much. What went wrong? Plus: We've talked a lot about the troubles facing brick-and-mortar retail and laws
Tomorrow's Election Day in the U.K., and it's a test for Prime Minister Theresa May ahead of Brexit negotiations with the European Union. One of the toughest issues in those talks may well turn out to be immigration. More than 3 million European nationals have settled in Britain, but since the Brexit vote, EU migration to the U.K. has slowed sharply. That's stoked fears of a labor shortage. We'll talk about it. Then: For the first time, Apple is giving third-party vendors access to a sort-of secret machine it uses in fixing cracked phone screens. Screen repair is a $4 billion business, but this move from Apple means it could be in for some changes. Plus, a conversation with the woman who runs the second-busiest airport in the country.
Let's say Trump's tax plan that has yet to be introduced to Congress does get passed. How long would it take for tax cuts to jolt the economy? We ask tax experts. Also on the show: Amazon offers a discount on Prime memberships for people receiving government assistance. What's behind the move? Amazon, again, is going toe-to-toe with Walmart. Plus, we talk to Forbes reporter Chloe Sorvino, who scored an interview with a very private billionaire in Denver whose company controls 85 percent of the pizza cheese market.
The Trump administration has promised to simplify the tax code, which is an idea Democrats and Republicans can get behind. But reforming the tax code is no easy task. We take a look at what this change could mean for the IRS, tax-prep companies and Americans filing their taxes each year. In other news from the White House, President Trump wants to put a nonprofit in charge of air traffic control instead of the Federal Aviation Administration. How would air traffic control work as an independent organization? Also on today's show: We talk to Stephen Beard, Marketplace's European bureau chief, about the upcoming election in the U.K.
Happy jobs day Friday! The unemployment rate is at a 16-year low, but the participation rate is down, with more people leaving the labor force. Also, wage growth is still sluggish. So what is Janet Yellen thinking? We get to it in the Weekly Wrap. In other big news this week: President Trump decided to pull out of the Paris Agreement on climate change, but that isn't stopping companies from participating. American automakers like Ford and GM have said they’re unhappy with the decision and want to continue lowering emissions. Also on today's show: We return to Erie, Pennsylvania, this time to the county prison, where more than half the inmates enter addicted to drugs, including opioids. A new drug called Vivitrol could help the opioid addicts, but under Trump’s proposed budget, the county may no longer be able to afford it.