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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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Nvidia is the most valuable company on the S&P 500 index, and Wednesday’s earnings report would be the envy of most companies. The chipmaker saw its sales double compared to a year ago, reporting $19 billion in profit. But its stock price dipped after the earnings report came out. Also on today’s show, U.S. prosecutors charge one of the world’s richest men with fraud, and Spirit Airlines joins a long list of carriers that have filed for bankruptcy over the years.
From the BBC World Service: Gautam Adani is accused of orchestrating a $250 million bribery scheme and concealing it to raise money in the U.S. The Adani Group has denied the allegations, which relate to renewable energy contracts. A BBC investigation has found that thousands of dollars worth of British Raspberry Pi mini computers have been shipped to companies in Russia sanctioned for their links to the military. Plus, the U.S. and Mexico have a strong trading relationship, but that could all change when Donald Trump becomes president; we hear from businesses on the Mexican side of the border.
Nvidia, the company that produces chips used in AI, will report its earnings Wednesday after markets close. Susan Schmidt, portfolio manager at Exchange Capital Resources, explains why investors are paying such close attention. Also on the show today: a slightly weaker labor market for college graduates and a closer look at whether long-haul trucking is really facing a driver shortage.
President-elect Donald Trump has picked Howard Lutnick to head up the Commerce Department. Lutnick is the CEO of investment bank Cantor Fitzgerald, co-chair of Trump’s transition team and has been instrumental in raising funds for Trump’s campaign. Plus, we speak with author Keith Ferrazzi about his new book, “Never Lead Alone, 10 Shifts from Leadership to Teamship,” and how organizations can and should adjust their mindset in this new era of post-pandemic work.
From the BBC World Service: More than 1,900 people in the UK are taking legal action against the manufacturer of Johnson’s baby powder, claiming repeated use caused their cancers. Saudi Arabia’s multi-billion dollar Public Investment Fund — which is behind big projects in real estate, soccer and golf — is under fire for being used to bankroll vanity projects linked to human rights abuses. And a Russian software company has invited a seven-year-old coding prodigy to join its management team, when he’s old enough to take up paid employment.
Nippon Steel is racing to finalize its deal to purchase U.S. Steel before President-elect Donald Trump takes office. But the Biden administration just threw a wrench in that plan, imposing higher tariffs on the Japanese company, despite Nippon’s promise not to import foreign-made steel into the U.S. Also: we discuss market reactions to rising Ukraine-Russia tensions and speak with Rosina Samadani, CEO of Oculogica, a medical device company that has developed a new method of diagnosing concussions.
The U.S. government has been fighting with Google for years, accusing it of holding an illegal monopoly. And in one of those antitrust cases, the government wants a harsh fix: a break up of the tech giant’s search business, more specifically, to split off its Chrome browser into a separate company. Plus, how international students play a key role in the finances of U.S. colleges and universities, and why loan applicants are facing a tougher approval process this year.
From the BBC World Service: The G20 group of nations has struck a new agreement to tax the ultra-rich in order to fund sustainable development projects. Plus, UK farmers are protesting in London over plans for a new estate tax on agricultural land worth more than $1.2 million. And how is the Egyptian economy faring with the Suez Canal still not back to full capacity following Houthi attacks?
There’s news today Spirit Airlines has filed for protection from its creditors, after years of losses and a failed merger. But the airline promises tickets are still good and schedules remain unchanged. Also on the program, we continue our discussion of angel investors with Loretta McCarthy, co-CEO and managing partner of Golden Seeds Venture Fund, a network that connects investors with startups founded by women.
1A new report finds women now make up nearly half of angel investors, a field once dominated by men. These investors fund early-stage startups in return for partial ownership. Today, we speak with Deb Kemper, managing partner at Golden Seeds Venture Fund, and a seasoned pro in this risky business of getting promising new ventures off the ground. But first, we’ll look at what’s driving consumer spending as the holiday season kicks off.
From the BBC World Service: Set against a backdrop of political turmoil, it’s going to be a big ask for the leading rich and developing nations to sign up to any meaningful declarations. In India’s capital, Delhi, restrictions are being tightened on construction and vehicles — air quality has become so bad that a blanket of toxic smog is covering the city. And we visit Madagascar, off the coast of southern Africa, where we look at some solutions to wide-scale environmental damage.
We call ourselves “Marketplace,” so part of our job is exploring how marketplaces work, in all their forms. Come with me as we visit five markets, all in the near-orbit of this program’s world headquarters in Los Angeles. None are financial markets in a formal sense, but all markets are financial markets in a way, right? My goal was to learn from the experts the right and the wrong moves in places where humans buy and sell face to face.
This is “Tricks of the Trade,” a Marketplace special. What we can learn from the pros at five marketplaces.
Stock, dollar and cryptocurrency buyers may have calmed down from their initial excitement over Donald Trump’s re-election. But bankers are still in a party mood, says JPMorgan Chase CEO Jamie Dimon. He made that comment yesterday at a global forum in Peru, where leaders of major economies have gathered. Also on the program: U.S. jobless claims hit a six-month low, and South Korea’s TV and film industry faces significant challenges.
At Marketplace, it’s our job to explain how marketplaces work. This week, we’re turning from traditional stock and financial markets to the in-person kind. For the final installment of our new “Tricks of the Trade” series, we learn how to hunt for the best fruit and vegetables at the Santa Monica farmers market. But first, how South Korean auto giant Hyundai is preparing for the Trump administration.
From the BBC World Service: The European Parliament has voted to delay and water down a proposed ban on importing commodities like cocoa and soy linked to deforestation. But chocolate companies aren’t happy. Also: “Squid Game” Season 2 is on the way. But as fans await its release, Korea’s film and TV producers say their industry is facing a “serious crisis.” We visit the set to find out what’s at stake.
Republicans will lead the House of Representatives, the Senate and the executive branch, giving President-elect Donald Trump considerable leeway to push through his tax, immigration and trade agendas. It also means the biggest U.S. trading partners need to adjust. “Marketplace Morning Report” host David Brancaccio spoke with The Economist’s editor-in-chief, Zanny Minton Beddoes, about what’s to come. Also on today’s program, an FBI raid on the home of Polymarket’s CEO and a new congestion pricing plan for New York City.
At Marketplace, it’s our job to explain how marketplaces work. This week, we’re turning from traditional stock and financial markets to the in-person kind. For the fourth installment of our new “Tricks of the Trade” series, we wake up in the wee small hours to see what’s fresh at San Pedro Harbor’s fish markets. Plus, we’ll look at why the cost of driving is going up.
From the BBC World Service: The ribbon-cutting is taking place today at the Port of Chancay — a Chinese-built megaport on Peru’s Pacific coast, that could transform regional trade. But will those investments come with any geopolitical risks? Plus, we hear from the first recipients of climate change compensation.
According to the latest CPI numbers out on Wednesday, prices rose 0.2% in October and were 2.6% higher than they were a year ago. But wage growth continues to outpace inflation. As Americans are seeing a rise in disposable income, we’ll look at how it’s helping drive a significant improvement in consumer confidence and spending. Also on the show, we’ll explain the role federal income tax has traditionally played in the federal budget.
At Marketplace, it’s our job to explain how marketplaces work. This week, we’re turning from traditional stock and financial markets to the in-person kind. As part of our “Tricks of the Trade” series, we’re heading to five different markets in LA. Today, we’re visiting the LA jewelry and gemstone district. But first, we’ll look at a new entity the incoming Trump administration is calling the Department of Government Efficiency.
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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.
Human trafficking is dangerous since you would be competing with the Biden administration directly as they are flying in and bussing in migrants themselves.
People, some of the 7,000,000 that left Venezuela, can tell Democrats why changing the USA to Socialism/Communism is so dangerous. Not the change they want but have been herded into.
It's great that you're going to focus on responsible gambling when you develop a gambling platform, have you already chosen a provider? I believe that solutions like https://runyourownpokersite.com/ are great, both affordable and customizable, so providing your users with the best experience possible won't be a problem.
I don't think there's anything wrong with gambling as long as it's approached responsibly. I'm planning to develop a gambling platform myself, and I'll definitely note the importance of responsible gambling.
inflation comes from government spending. Tell your National Government administration to quit spending on any extra expenses. It is the debt spending, spending more than what is brought in through taxes, any person with a 💳 credit card understands how it works.