Marketplace All-in-One

From the BBC World Service: As Russia seizes Ukraine’s largest nuclear power plant, we explore the likely impact of Western sanctions on the Russian economy. And we hear from Berlin, where families are making space for Ukrainian refugees arriving in Germany.

Update: After Friday’s live broadcast, the BBC’s Victoria Craig spoke with Ukrainian Finance Minister Sergii Marchenko, who called for harsher sanctions against Russia. This episode audio has been updated to include their conversation.

Russia’s control over natural gas in Europe has been one of the subplots to follow leading up to its invasion into Ukraine. Europe has long relied on Russian gas to help support its wind and solar power efforts, and it keeps many a home warm in the winter, especially Germany. For more on this, we spoke with Vijay Vaitheeswaran, global energy and climate innovation editor at The Economist. The Labor Department issues its February jobs report, and its expected to show more growth as the pandemic is showing signs of subsiding.

Give today to support Marketplace Morning Report.

Desalination is the process by which salty ocean water is made drinkable. Though it’s seen as a potential solution to address water shortages in arid parts of the world, it also produces a lot of carbon emissions. So what role might desalination play in addressing the climate crisis if it could also worsen it?

Give today to support Marketplace Tech.

It’s Hollowed-Out Shell Thursday, and while we’re not feeling totally empty, we’re a little confused about the state of the energy market in the wake of Russia’s invasion of Ukraine. Russia faces sanctions from the West in everything from retail to sports, but the United States says it has no plans to stop buying Russian crude oil. The Biden administration wants to limit disruptions to the global energy supply, but we still have questions. Next, we examine whether this moment of energy uncertainty will accelerate a global shift to clean energy. To wrap things up, our hosts share a welcome Make Me Smile, and a crafty one!

Have a question for our hosts? Did you see something that made you smile? Share it with us! Email or send a voice memo to [email protected]. Or leave us a voice message at 508-827-6278 (508-U-B-SMART)!

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

Give today to support “Make Me Smart.

Ukraine has become a hub for outsourced technology services over the past few years. That means the major tech companies that employ workers there are activating contingency plans to help keep those workers safe. Today, we’ll take a look at how some companies are responding when a part of their workforce is threatened by war. Also on today’s program: The job market appears to bounce back from omicron, investors flock to the security of the government bond market and Russian businesses in the U.S. struggle to retain patrons.

Give today to support Marketplace.

Oil prices continue to climb this morning. Global benchmark Brent crude is at $116 a barrel, which is a near 20% increase just this week. The price may go higher as the United States imposes the first export controls connected to Russia’s energy sector. We discuss rate hikes coming in March and preview upcoming jobs numbers with Diane Swonk. Philadelphia Fed president Patrick Harker talks about the Russia-Ukraine conflict and its potential impact on what the Fed could do with interest rates.

Employers lowered the educational requirements for certain jobs during the pandemic, according to a new report from the Federal Reserve Bank of Philadelphia — potentially signaling new opportunities for workers without a bachelor’s degree. We spoke to Patrick Harker, the Philadelphia Fed’s president, about what the research can tell us about the economy. He also talked about whether Russia’s invasion of Ukraine and the resulting economic fallout could alter the Fed’s approach about raising interest rates in March. The war in Ukraine has led to high wheat prices, which impact certain parts of the world more than others. Fed chair Jerome Powell testifies today.

From the BBC World Service: A number of commodity prices have seen sharp price increases over the past week, as has the impact of Western sanctions and reluctance to do business with Russia. As the conflict continues, what will it take to cool price swings? Plus: As Ukrainian refugees continue to flee to neighboring EU nations, interior ministers meet to discuss a plan to grant temporary protection.

Ukraine has solicited an unusual form of donation to pay the costs of war: cryptocurrency. So far, the country has amassed more than $42 million in crypto donations. We hear from Marketplace’s Savannah Maher and delve into the benefits and complications of such contributions.

Give today to support Marketplace Tech.

For Whaddya Wanna Know Wednesday, we asked for all your economic and tech questions about Russia’s invasion of Ukraine. One listener wonders if we should be worried about cyberattacks becoming a large part of Russia’s strategy. Or will the country try to pivot to crypto (can they even do that?)? Then, our hosts help us figure out what exactly SWIFT is, following the global financial system’s removal of certain Russian banks. And we’ll find out what China’s role in all of this could be.

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

Give today to support Make Me Smart.