From the BBC World Service: Thousands of victims of a huge investment scam believe police in London have nearly $4 billion worth of bitcoin that belongs to them and want the British government to give it back. Then, The European Central bank held interest rates steady but gave strong hints about future rate cuts. Plus, we hear about padel, one of the world’s fastest growing sports, and its Olympic ambitions

Chinese victims of a bitcoin scam believe the U.K. government has their money

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. 

Business

Investing

Careers

Management & Marketing

Business News

Shopping

News

The consumer price index is up 3.4% in a year, and — setting aside volatile food and fuels costs — the CPI increase over 12 months was the lowest in three years. For people fervently hoping interest rates will go down sooner rather than later, this is good news. But can there be too much slowing? We dig in. Plus, we’ll hear how the economy of Necoclí, Colombia, has shifted to serve migrants stopping there.
The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.

Prices went up in April, but inflation still cooled

The consumer price index comes out later this morning. It’s designed to measure inflation but ignores one of the biggest categories of price increases hitting consumers: the cost of borrowing money. We’ll unpack why that’s the case. Also, a bipartisan group of Senators wants the federal government to spend $30 billion to address artificial intelligence development. Then, school districts face tough choices as pandemic funding ends
The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.

Why an important inflation measure leaves out borrowing costs

From the BBC World Service: Roughly 500,000 migrants traveled through dense jungles on the Colombia-Panama border last year, according to the United Nations. We’ll hear how businesses in a beach town have shifted their focus to cater to the new arrivals. Plus, China vowed to retaliate against President Biden’s significant tariffs on some Chinese imports. Meanwhile, Russia’s President Putin spoke of his country’s close ties to China ahead of a visit to Beijing.
The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.
 

How migration changed the economy of a Colombian town

Shares of video game retailer GameStop skyrocketed nearly 75% yesterday and are poised to shoot even higher today. That comes after the trader who championed the last run-up in GameStop’s share value posted on social media for the first time since 2021. We’ll hear the latest. Also on the program: regulator concerns over election bets and a dip in medical student residency applications in states with abortion bans.
The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.

Yet another GameStop stock rally

At Rochester Regional Health in New York, aggressive collection activities on medical debts are barred. Patients are not sued, their wages are not garnished, and unpaid bills won’t sink their credit scores. We’ll hear about the health system’s shift to the uncommon model and learn more about its impact. But first, the Biden administration is announcing increased tariffs on imports from China. And later, how can the WNBA sustain its surging popularity?
The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.

Chinese victims of a bitcoin scam believe the U.K. government has their money

Download our free app to listen on your phone