Marketplace All-in-One

The European Union is pushing to regulate big, global technology firms. In their latest move, EU negotiators agreed to a broad set of legislation called the Digital Services Act, which aims to, among a long list of other items, require social media companies to make their algorithms more transparent and limit the spread of disinformation on their platforms. While the language in the DSA still needs to be finalized, it seems clear that platforms like Twitter — regardless of who owns it — will need to adapt to those rules. Eric Heinze is a professor of law and humanities at Queen Mary University of London. He spoke with Marketplace’s Kimberly Adams about how strict these EU rules will be and what they mean for Elon Musk’s vision for Twitter.

We’re keeping an eye on Tesla after Elon Musk reached a deal to buy Twitter earlier this week. Musk has sold roughly $8.5 billion worth of Tesla shares in the last couple of days. We’ll get a little into the weeds about the dynamics playing out as the Twitter deal closes. Plus, the fallout after the Jan. 6 insurrection continues — we’ll update you on what’s happening in the courts. And a COVID-19 vaccine for young kids may be on the way. Then, the hosts play a round of Half Full/Half Empty. Finally, a big thank you to producer Marque Greene for all his hard work as he wraps up his stint on “Make Me Smart.” But don’t worry, he’s not going far.

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Tell us what you think about today’s show. Email us at [email protected] or leave us a voice message at 508-827-6278, or 508-U-B-SMART.

Exxon Mobil reported quarterly profits of $5.5 billion today, riding the wave of high oil prices prompted by the war in Ukraine, among other factors. The company, a leader in a shareholder-friendly industry, plans to use many of its billions on stock buybacks. Now, environmentalists are pressuring Congress to tax these windfall profits. Plus: Employees see higher pay but less buying power, and we’ll talk recession fears and GDP in the Weekly Wrap.

The NFL draft, full of spectacle and excitement as players were selected by their future teams, kicked off last night in Las Vegas. The event is expected to attract over 200,000 per day over the draft’s three days and seven rounds. For more, we talk to Marketplace’s Andy Uhler, who’s on the ground in Las Vegas. After more than two years of working at home, some parents brought their children into the office for Take Our Daughters and Sons to Work Day.

China is a big player in the global economy, importing and exporting several trillion dollars worth of goods and services each year. That means China’s trade decisions can affect the health of industries and economies across the globe, but right now it’s hard for the World Trade Organization to do anything about it. For more on this issue, we talk to Chad Bown at the Peterson Institute for International Economics. Households are becoming more nervous about personal finances due to inflation. A look at results from Apple and Amazon, which reported earnings and losses this week.

From the BBC World Service: School children in the Chinese capital are learning from home. Apartment blocks, shopping malls, cinemas and gyms are being sealed off in some areas. Behind the scenes, some business investors are expressing concern. Plus, the World Health Organization and UNICEF claim some baby milk producers are using unethical social media marketing practices. And, how Ukraine’s tattoo industry is getting an unexpected boost since Russia invaded the country.

This week, Apple rolled out its Self-Service Repair Store. Consumers and independent shops can now order spare parts and rent company-authorized tools to fix certain iPhones. This comes after President Joe Biden issued an executive order in July promoting consumers’ “right to repair” their own electronics. Congress is considering new laws to make it easier for people to fix their stuff. That’s the topic today for our recurring segment, “Quality Assurance,” where we take a second look at a big tech story. Marketplace’s Kimberly Adams speaks with Nathan Proctor, who directs the Right to Repair Campaign for the U.S. Public Interest Research Group.

Some days the news can really throw you for a loop, and this Thursday is one of them. President Joe Biden has asked Congress for an additional $33 billion to help Ukraine. The call for more funds comes as reports that Russia’s revenue from energy sales has almost doubled since it launched the war on its neighbor. We’ll look at why Russia continues to benefit despite the numerous sanctions levied against it. There’s also a hard conversation about the measures climate activists have taken in hopes of speeding up our response to the global climate crisis. And we do our best to bring you back up as we end things with a couple of Make Me Smiles.

If you or someone you know is struggling with suicidal thoughts, anxiety or depression, call the National Suicide Prevention Lifeline at 1-800-273-8255 or text the Crisis Text Line at 741741.

Here’s everything we talked about on the show today:

Join us Friday for Economics on Tap. We’ll be livestreaming on YouTube starting at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

U.S. gross domestic product shrank by 1.4% last quarter, but just because the economy’s shrinking doesn’t mean it’s hurting. Today we dive into two big factors — slowed inventory growth and a surge in imports — sinking that calculation. Also on the program: How the NFL draft incentivizes “tanking,” and why the energy crisis could be an opportunity for the energy transition.

The U.S. economy contracted in the first quarter, the Commerce Department reported today. So why is the Federal Reserve still focused on raising interest rates? Diane Swonk, chief economist at Grant Thornton, helps us unpack the latest numbers. Delta Air Lines will start paying flight attendants during the time passengers are boarding. The change comes as the airline’s flight attendants try to form a union. In the entertainment industry, self-recorded auditions have flourished during the pandemic, and it looks like they may be here to stay.