The trade war with China is raging on, but the markets seem unbothered. As the Dow and the S&P 500 hit new highs this week, we look at why the markets don’t seem to be impacted by the trade war. Meanwhile, the United Kingdom is facing its own trade woes with Brexit only six months away. How will Britain’s shipping industry change? We go to Britain’s largest port to find out. Also on today's show: Before "Fixer Upper," there was "Flip This House," "Flip That House" and "Flipping Off," but the flipping stopped when the recession hit. We speak to Steven Kurutz, New York Times features reporter, about how home renovation shows have reflected the housing crisis.
After the dust settled on the Great Recession, financial institutions ended up paying over $200 billion in settlements to the U.S. government and people affected by the crisis. Some settlement deals broke records. But where'd that money go, and was it enough? As part of our ongoing coverage of the 10 years since the crisis, Divided Decade, we'll try to find out. Then: The federal government announced it will cap refugees entering this country at 30,000 next year, a record low. We'll look at Erie, Pennsylvania, one economy that relies on refugees to stay afloat. Plus, we'll talk about manufacturing's dirty little secret: Most factories don't know where their supply chains come from, making the impact of tariffs tough to predict.
China and the U.S. traded more tariffs since just yesterday, and many companies have said they’ll pass the cost onto consumers. So when can Americans expect a price hike? We'll talk about it, and interview a tile industry spokesman who supports the tariffs. Then: With the budget expiring at the end of the month, federal agencies are hurrying to spend their budgets before time runs out. Some are taking things down to the literal last minute. Plus, hard truths with rapper and author Dessa.
The Trump administration will impose tariffs on $200 billion worth of Chinese products next week as President Donald Trump first threatened in June. Hundreds of people have testified and submitted written comments about their impact, including Julia Hughes, president of the United States Fashion Industry Association. We'll chat with her, as well as Canadian aluminum producers stinging from the trade war. Plus: A conversation with Tender Greens CEO Denyelle Bruno.
When Lynn Gray went home on Friday, Sept. 12, 2008, she was expecting that her employer, Lehman Brothers, would be purchased over the weekend. Barclay’s and Bank of America were both considering saving it from bankruptcy. Things changed quickly. Gray's on the show today to tell us what it was like being in the building when Lehman fell and helped set off a worldwide crisis. Plus, a forensic accountant was a key witness in the trial of Paul Manafort. But what, exactly, is forensic accounting? We'll explain. But first, we talk about the past seven days of financial news in the Weekly Wrap.
President Donald Trump rejected the government’s assessment of the death toll from Hurricane Maria this morning. "3,000 people did not die in the two hurricanes that hit Puerto Rico,” he tweeted, accusing Democrats of inflating the number. Those statements are not grounded in fact. What is a fact is that the island was devastated, and thousands did die because of a lack of electricity, shelter, food and water. With that in mind, we talked with chef José Andrés today about his experience feeding thousands of Puerto Ricans in the storm's wake. But first: Between wildfires and the approach of Hurricane Florence, many Americans are expected to rebuild damaged homes. But demand for building materials, alongside tariffs on wood and steel, could drive costs up. We'll look at what happens when trade wars and disaster recovery collide. Plus, can the Apple Watch disrupt Life Alert?