Marketplace Morning Report

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.

A 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.