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Marketplace Morning Report

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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.

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.


United States


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.




Enron’s deregulation ripple effect, 20 years later

One part of the Enron story we’re still seeing echoes of today is the company’s involvement in the 2000-2001 California electricity crisis, where energy companies manipulated markets and prompted large-scale blackouts after lobbying the state to deregulate energy markets. Vijay Vaitheeswaran, global energy and climate innovation editor at The Economist, spoke with us about it. Fed chief Jerome Powell said The Fed is facing tension trying to balance dealing with high inflation and encouraging...


The German mRNA pioneers hoping to deliver an effective COVID-19 vaccine

From the BBC World Service: While CureVac’s first generation COVID-19 vaccine fell short in efficacy, its boss says they’re not giving up and that a partnership with GlaxoSmithKline will help. We sat down with CEO Franz Haas at the firm’s headquarters in Tübingen, Germany. Plus, Britain’s furlough scheme ends today. It subsidized pay for more than 11 million people in sectors largely shut down by lockdowns. But is the U.K. economy strong enough to stand on its own two feet?


Mastercard wants a piece of the “buy now, pay later” pie

The ability to offer customers the chance to buy now, pay later has been the domain of smaller businesses that were separate from credit card companies. Now, in an effort to attract younger people who might be wary of debt, credit card companies like Mastercard want in. Susan Schmidt joins us to discuss the possible effect the news coming out of Washington could have on the markets. We then talk about how businesses have “pivoted” to the world of online during the pandemic, and how some...


Lawmakers get another warning from Treasury Secretary Janet Yellen

At a congressional hearing Tuesday, Janet Yellen said they must avoid the U.S. defaulting on its bills for the first time in history. Defaulting, she said, would be catastrophic for the U.S. economy. China correspondent Jennifer Pak joins us to discuss the power cuts there, which have hit millions of homes and factories and can affect what we can eventually buy over here. Also, a new study shows how the pandemic has hindered global efforts to provide and grow access to electricity.


A new leader for Japan

From the BBC World Service: Japan’s ruling Liberal Democratic Party has selected former foreign minister Fumio Kishida as its new leader. He’s now almost certain to become Japan’s next prime minister within days, so what is the likely economic impact? A new study suggests that billions of dollars of China’s lending around the world is concealed from the country’s balance sheet. And there are indications that climate change is likely to have a more severe impact on low-income countries than...


Is the Commerce Department becoming the worker retraining department?

Commerce Secretary Gina Raimondo is set to deliver her first big policy speech. The department casts a wide net over a variety of areas and roles, but Raimondo is pledging to turn the department’s focus inward. Kimberly Adams joins us to discuss what that means. Then, we discuss the markets with David Kelly, chief global strategist at JP Morgan Funds. We then looking into how health care workers are preparing for staff shortages as they face mandated vaccines.


The British Army could step in to ease panic-buying of fuel

From the BBC World Service: There aren’t enough truck drivers to deliver fuel to gas stations right now and some have run dry. The U.K. government says there is enough gas to go round, provided it can be delivered. Plus, the boss of the Islamic Bank of Afghanistan says the country’s financial system is on the brink of collapse. And, how “flood wine” is helping German winemakers who suffered huge losses after devastating floods this summer.


The pandemic has brought younger people more credit card debt

About 40% of people with credit card debt have more debt now than they did when the pandemic began, according to a new survey out today from Bankrate. However, within that group are people under the age of 40. We look into how they got there. We also discuss the resignations of the Boston and Dallas Fed chiefs and the trading controversy around them. Retailers are also gearing up for an unprecedented pandemic-era shopping season.


Flood-scarred town illustrates Germany’s infrastructure, climate change questions

Germany’s election for a new chancellor is over, and one of the larger talking points on the campaign trail had been climate change, especially after summer floods led to decimation and even deaths in some parts of the country. The BBC shares reports from its travels to those areas. Julia Coronado converses with us about deferred optimism in the markets. A new survey also reflects economists’ tempered expectations of growth.


Women in the corporate world are burning out … but they’re also leading

A new report from McKinsey & Company and Lean In on the state of women in the workplace says burnout among women in corporate America has gotten even worse since last year, but there’s a silver lining in the data. We speak with China correspondent Jennifer Pak about Huawei executive Meng Wanzhou, who is returning to China after an extradition battle with the U.S. over Iran sanction violations. The 74th Tony Awards on Sunday night was a signal that Broadway productions are starting to open...


German markets up on election outcome

From the BBC World Service: Germany’s Dax index was up around 0.9% in early trade, as markets absorbed the outcome of Sunday’s election. And in the wake of widespread flooding across Germany earlier this year, we find out how infrastructure might be improved to minimize the impact of climate change.


Deadlines tied to billions – and trillions – are closing in on Congress

Lawmakers in Washington face a number of crucial deadlines in the coming days denominated in hundreds of billions and trillions. There’s funding for the Biden infrastructure plan, plus the feds running out of money and the ability to borrow. Nova Safo joins us with more details. Then we head to Germany, where elections for the next chancellor are taking place. The BBC checks in with the local business climate there to see where business owners stand on some of the issues that could affect...


Monoclonal antibody treatments help with COVID-19, but not without a cost

On the COVID-19 front, monoclonal antibody treatments have increased in both supply and demand, but there are plenty of costs to consider. Getting treatment can not only get pricey, but it can also thin out resources. There’s also the question of availability. In China, property giant Evergrande is about $300 billion in debt, and the deadline to address that debt has come and gone. Is it possible that a bailout could be in the works? There’s been plenty of regulation in store for food...


US central bank poised to ease up on economic stimulus this fall

There are strong signals that the Federal Reserve could be lowering the setting on economic stimulus later in the fall. Nancy Marshall-Genzer shares details on what the Fed might have planned. The White House is holding another meeting today with representatives of major companies to try to find solutions to the semiconductor chip shortage. The Evergrande debt saga in China is providing a few harsh lessons to be learned for the rest of the world, as Diane Swonk notes in our markets...


A look back the Enron scandal after nearly 20 years

It was 20 years ago next month that energy giant Enron — then the seventh-largest company in the U.S. — collapsed, resulting in historic layoffs and ravaging retirement savings accounts. We speak with Bethany McLean, a financial reporter who covered Enron for Fortune, about whether or not punishment for white-collar crime is still a real thing after all these years. There’s more to discuss regarding the Fed, and the upcoming holiday shopping season does not seem to mean good cheer for FedEx...


Boeing will build its first overseas factory in Australia

From the BBC World Service: American aerospace giant Boeing has announced that it will build its first factory outside the U.S. in Australia. It will produce unmanned military drones and is expected to create 3,500 jobs by 2028. India is second in the world for coal consumption, but it has set ambitious renewable energy targets. Is it ready to wean itself off of coal?


How is the economic recovery actually going?

In light of China real estate developer Evergrande’s debt issues and the markets trending upward, Susan Schmidt joins us for our economic discussion to help us break down how players in the market might be absorbing all this. The BBC reports on China’s pledge to stop building new coal-fired power plants abroad. The Department of Justice has taken issue with what it sees as an alliance between JetBlue and American Airlines. And, we take a look at the economic dynamics behind China’s shopping...


Meet the Fed’s circle of power: The board of governors

We take a look at the power structure of the Fed, where decisions there affect everyone in America. Those decisions include how the central bank of the U.S. plans to keep propping up the economy during the pandemic. We explore how the anti-abortion law in Texas could have an effect on recruiting in the tech industry. We also examine how some hospital systems still face overwhelming odds in the fight against COVID-19.


China to stop building coal power plants abroad

From the BBC World Service: China has announced at the United Nations that it will stop building coal plants overseas. Chinese property group Evergrande says it has agreed to a deal with domestic bondholders, who are due payments of around $36 million. Ahead of the U.N. climate summit in Glasgow, Justin Rowlatt is traveling around the U.K. taking stock of its green potential. Today, he’s looking at how composting could be one key to a renewable economy.