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In less than 10 minutes, we'll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace's David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you'll get a global markets update from the BBC World Service in London.
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How optimistic are small business owners nowadays? According to a recent survey, the picture is downbeat — many owners have been dealing with tariffs and other stressors. We delve into the data. And, a chat with the co-founder of a non-profit restaurant in New York City that serves up economically inclusive meals priced with a sliding scale based on what diners can pay.
From the BBC World Service: Donald Trump is set to cut import taxes on products like coffee, bananas, and beef as part of trade agreements with four Latin American countries, aimed at easing food prices. A tariff of 10% will stay on most goods from Guatemala, Argentina, and El Salvador, as will a 15% tax on imports from Ecuador. But staples like coffee and bananas, which the U.S. can’t produce enough of, will be exempt.
The longest government shutdown ever ended last night when President Donald Trump signed a stopgap bill to keep federal agencies going through Jan. 30. But the shutdown deal also included spending bills funding military construction, the legislative branch, the Agriculture Department, and the VA. We went through the lesser-known provisions so you don't have to. Also: the state of Canada's energy exports and potential limits to the power of proxy advisory firms.
By now, you know that the House passed legislation last night to reopen the government. But you might not know about a provision that would completely change the way hemp is regulated. It was tucked into the new farm bill, which was also approved last night, and funds the Agriculture Department through September. We'll hear more. Plus, are government institutions shifting resources away from the working class? Professor Clara Mattei argues that's the case.
From the BBC World Service: India’s government has approved a $5 billion credit line to support its struggling exporters, as Indian workers across sectors like textiles, jewelry, and seafood face major potential job losses. Then, attendees of COP30 are hoping for a U.N.-backed deal to impose a levy on emissions for large ships. Research also presented at the climate summit warns that global carbon emissions from coal, oil, and gas are set to reach a record high in 2025.
President Donald Trump and Federal Housing Finance Agency director Bill Pulte have floated the idea of a 50-year mortgage as a potential way to make homebuying more affordable. The president has said that longer mortgages would lower borrowers’ monthly payments, which is true — but at what cost? And later, 47 economists filed an amicus brief in Trump's tariffs case before the Supreme Court. We'll unpack what they said.
After 43 days, the government shutdown could end today. But there are still lingering questions: When will food stamps be distributed to beneficiaries? When will government workers receive paychecks? As for all of the economic data we missed while government agencies were closed? It won’t be released immediately once the government reopens — far from it. Then, the shuttering of the IRS' Direct File program and climate talks in Brazil.
From the BBC World Service: Australia is increasingly vulnerable to "high-impact sabotage" from hackers backed by China, according to Australian intelligence official Mike Burgess. He told business leaders in Melbourne that there had been multiple attempts to hack into transportation, telecommunications, water, and energy networks. Plus, a multibillion-dollar natural gas platform off the coast of Senegal promised to bring economic prosperity, but fishermen there say the development has caused disruption and unemployment.
The Trump administration is moving to levy tariffs of over 90% on popular Italian pasta brands on “anti-dumping” grounds. We look at how the move could impact grocery prices for the pantry staple. Plus, even though we don’t have a government jobs report this month due to the shutdown, private sector numbers give us an idea of the state of the labor market. And, as New Mexico moves to provide free childcare, a look at how daycare benefits businesses.
From the BBC World Service: A Chinese woman will be sentenced in London later for her role in a Bitcoin scam worth billions of dollars. Qian Zhimin was convicted of trying to launder more than sixty thousand bitcoins, now worth around six-and-a-half billion dollars, following Britain's largest ever seizure of cryptocurrency. We hear from some of the investors who were scammed as part of the fraud.
The Senate passed a deal last night to end the record-setting government shutdown. But that hasn’t yet translated into relief for the beleaguered air travel industry, which has seen thousands of canceled flights in response to air traffic controller shortages. Plus, we talk with economist Peter Atwater, one of the economic researchers who first helped popularize the “K-Shaped” economy concept, about inequality in post-pandemic America.
Commercial real estate has been struggling in the years since the pandemic. Office attendance has risen, though not as much in smaller cities. And while big banks might not be voicing concerns over this, lending for commercial real estate is a major deal for regional and community banks. We discuss. Also on today's program: markets react to a potential end in sight for the shutdown, and big movies around the holidays could drive ticket sales.
There’s movement in Washington toward ending the government shutdown. The Senate held a procedural vote yesterday. Seven Democrats and one independent senator voted yes with Republicans, which finally broke the logjam and will allow final votes on a bill to reopen the government. It's progress, but there's still potential for derailment. Plus, New Mexico is offering free universal child care starting this month. We'll hear what that means for one family.
From the BBC World Service: China has lifted export controls on computer chips that are vital to car production, marking an easing of trade tensions between China and the U.S. Automakers Volvo, VW, Ford, and Honda had all warned they could face severe supply chain disruptions if the ban wasn't overturned. China has also paused an export ban to the U.S. of some materials that are crucial in the semiconductor industry. Plus, a major cybercriminal reveals all.
The value of Pokémon cards soared during the pandemic, and some have climbed in value nearly 4,000% over the past two decades. For some, Pokémon cards are a source of nostalgic joy, but others are seeing them as alternative assets — joining the likes of sneakers, comics, and even crypto. Also, hundreds of flights are cancelled today at airports across the country. And, from Marketplace's "Million Bazillion," little listeners reflect on the role of the $2 bill.
Starting today, the Federal Aviation Administration is requiring airlines to reduce flights at 40 airports because of the strain that air traffic controllers are under during what's turned into the longest federal government shutdown ever. Fewer flights mean reduced supply, just as demand is about to ramp up for the holidays. And there’s gonna be consequences for both airlines and consumers — including likely price increases. Plus, what constitutes a "workplace emergency" these days?
From the BBC World Service:
Elyria-Swansea, a largely Latino neighborhood in Denver, has plenty of industrial sources for air pollution: a dog food factory, an oil refinery, a highway. Now, an AI data center is being constructed and threatens to contribute to the area's poor air quality. How are community residents responding? Also on today's show: key points during yesterday's Supreme Court oral arguments over tariffs and a gathering of some world leaders at COP30 in Brazil.
Yesterday, Supreme Court justices heard arguments and asked questions about whether an emergency powers law could be used by a president to overhaul international trade and bring in lots of money through import taxes — all without getting Congress to go along. The justices were skeptical, to say the least. We'll discuss. Plus, we'll hear how suspended SNAP benefits are playing out at one food bank in Central California.
From the BBC World Service: The summit is part of an effort to show that the climate crisis remains a top priority, although some big names won't be in attendance, including leaders of China, India, and the U.S. What can the conference achieve without them? Then, China has announced it's easing tariffs and export controls on U.S. firms following last week's seemingly productive meeting between Xi Jinping and Donald Trump. And in Shanghai, foreign businesses are being welcomed to a major trade import expo.
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4:30 The House won't take this up since Speaker Johnson pushed through something earlier this year that prohibits the house from taking up the discussion for 2 years from when it was passed. The entire possibility for the House's oversight was taken away by themselves (ie Trump\MAGA).It's not just that they won't take it up, they can't because they aren't holding session and even if they were they're explicitly prohibited from it.
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Tariffs will make business move into USA and this will make us less dependent on countries that could disrupt our imports of building materials , food, and medicine, as what happened to Britain in WWII. We supported Britain, but who would support us?
Get Fauci away from those chickens !!
Elite did a Maui on Pacific Palisades.
lack of imported labor raises labor costs, read opening the border and cheap labor pours in, the lower end workers make less money. How does that help the poor? Cesar Chavez was against the inflow border crossing cheap labor because it lowers the incomes of all but the corporations. Ask your Democrat politician why Biden hates labor. While you are at it, ask Nancy Polosi why she too hates having to pay the higher amount for local labor and insists on open labor borders.
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We don't need a Gavin Newsom to crash the United States of America like he is crashing California.
Have all the women kill simutaneously all the Talban men. Then go to university.
Being a Democrat is self harm.
Just have the most successful money launderer help with the cover-up, call Biden.
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Humanitarian aid to Gaza so they can repeat?
If I spent , borrowed, then dumped that borrowed money into the market, as much as the Federal government does, the inflation would grow exponentially. The key is that the inflation is based on the difference between taxes income and money spent. If government borrowing covers the over spending each borrowed dollar lowers the value of each dollar already in the market, since the tax income doesn't change. Ergo inflation. Consumer spending increases the market value by the exchanging of dollars.
Why not improve public schools rather than drag Private Schools down.
Using Biden style overseeing. See no Evil, Hear no Evil, Say nothing about the Evil, such as Biden's control over the FBI and the CIA. Nancy Pelosi must be proud of the use of child labour as she promoted border crossing of all the children to do various kinds of work. Can you list all the things children can do? I knew you could. Such a good neighbor.
Nothing like semi- slavery to save on labor costs. Elites develope vaccines to have low wage autistic laborers for duties that would have cost more for non-autistic labor. You missed a table.
Take the money and run, sounds like a Leftist. I didn't know Biden was an artist.
Hitler thought a war and Holocaust was worth getting art.
Downtowns anywhere in California are exposed to the security that is not provided by the Democrat political powers in California and the fear of Downtown attacks prevents wise businesses from operating in downtown areas.