Marketplace Morning Report

(Global Edition) From the BBC World Service ... German carmaker BMW is in hot water in South Korea over defective engines that caught fire. China is cutting tariffs on a range of products for the third time this year as the damaging trade war with the U.S. drags on. And, we take a look at how businesses in the U.K. are stepping up efforts to combat food waste. Today's show is sponsored by Orvis, Indeed, Netsuite and Wasabi Technologies. (12/24/2018).

As the off-again, on-again partial government shutdown looms, we ask, "Who's 'essential,' and who's 'non-essential'?" Prognosticators say the U.S. GDP will shrink next year. Plus, Marketplace Tech host Molly Wood drops in to break down Facebook's recent privacy scandal, the latest of many.  Today's show is sponsored by the Michigan Economic Development Corporation and Navy Federal Credit Union.

From the BBC World Service... Britain's second biggest airport, Gatwick, has reopened more than 30 hours after it was shut down by a rogue drone. The ensuing chaos threatened to ruin Christmas for more than 100,000 passengers on one of the busiest travel days of the year. An aviation expert assesses the costs. Over in Germany, the country's last coal mine closes today. The fossil fuel used to be a bedrock of the German economy, but the country is now looking to meet climate change targets. And Spaniards are hoping to hit the holiday jackpot after a year fraught by political and economic upheaval.   Today's show is sponsored by the Michigan Economic Development Corporation and Navy Federal Credit Union.

The chairman of the Fed "felt" the market when it decided to raise interest rates this week but not enough, it seems. China, an IRL superpower, lauds the late Stan Lee at a World Trade Organization meeting. Errant drones shut down a busy airport in London. And in 2019, millennials will outnumber baby boomers. How will the younger set's consumer habits shape the future economy? Today's show is sponsored by Orvis, Alliance for Lifetime Income and Indeed.

After the Fed’s decision to raise interest rates yesterday, we look at why — in such a strong economy with inflation so low — the hike was necessary. Plus, we’re wrapping up our Divided Decade coverage for the year. Today, we look at the not-so-lucky Americans who graduated into the recession in 2008. How are they faring today? And finally, National Returns Day, the peak day for returning gifts via UPS, arrived before Christmas for the first time. Today's show is sponsored by Orvis and Alliance for Lifetime Income.

From the BBC World Service…Former Nissan Chairman Carlos Ghosn could soon be released on bail after a Japanese court rejected a request to extend his detention. Then, the French government will release its revised budget after Yellow Vest protests spurred violent debate about President Emmanuel Macron’s economic reforms. So, what’s in the new budget blueprint? Afterwards, the West African nation of Togo has seen some economic growth over recent years, but many feel it hasn’t been inclusive and political instability  has made things worse. And despite violent unrest, the government will push ahead with elections today.

U.S. Treasury Secretary Steve Mnuchin blames recent market volatility on high-speed trading and the Volcker Rule, which bars banks from making risky bets with their money. FedEx stock dips after it voices concern over a global economic slowdown. All eyes are on the Fed as it decides on the much-anticipated interest rate hike Wednesday. And in one British town, the "Garbage Queen" saves valuable rubbish from a doomed fate at the landfill. Today's show is sponsored by Orvis, Navy Federal Credit Union and Indeed.

On Wednesday, the Fed will decide on whether to raise the interest rate for the fourth time this year or take the president's suggestion and "feel the market," but what does either move mean for the average consumer? A decade after the subprime mortgage crisis triggered the Great Recession, rising home prices coupled with lower sales signal a not-as-calamitous slowdown. Facebook faces another privacy scandal. Plus, remember the Blackberry? Well, it never really left. Today's show is sponsored by Orvis  and Navy Federal Credit Union.

From the BBC World Service… Merger mania in the pharmaceutical industry: Pfizer and Glaxo SmithKline agreed to combine their consumer health businesses into one company with sales of more than $12 billion. Then, the mobile unit of Softbank made history in Japan today with the largest trading debut there, but the share price fell 14 percent. So, why does the tech giant need the money from its initial public offering anyway? Plus, a look at how a rising number of cancer cases in India's "food bowl" region is causing farmers to move away from toxic pesticide use.

Today's show is sponsored by Orvis  and Navy Federal Credit Union.

President Trump not-so-subtly urges the Fed to "feel the market" instead of raising the interest rate this week. Unemployment continues at record lows, but that depends on who counts as "employed." It turns out women are participating less and less in the labor market. Plus, the good news: teen drug use is down. The bad news: vaping is up... like, way up. Today's show is sponsored by Indeed, Selligent  and the Alliance for Lifetime Income.