Marketplace Morning Report

Hurricane Lane is currently a Category 3 storm with 120 miles an hour winds. The slow pace of the storm means it's dumping a lot of rain according to the Central Pacific Hurricane Center. There's extreme flooding on the Big Island of Hawaii and it expects up to 40 inches of rain in some places causing life-threatening flash flooding and landslides into the weekend. The last major hurricane to hit Hawaii was Hurricane Iniki in 1992. We talk to Karl Kim, professor of at the University of Hawaii and executive director of the National Disaster Preparedness Training Center, about what it's going to take to recover. Also, tomorrow will be one year since Hurricane Harvey dumped trillions of gallons of water on southeast Texas. Tomorrow is also the day voters in Harris County, the greater Houston area, will head to the polls to vote on a $2.5 billion bond package for flood risk reduction projects across the county. We check in with the residents of Houston. 

Today's show is sponsored by Indeed  (Indeed.com/marketplace) and Carbonite (www.carbonite.com). (08/24/2018)

(Global Edition) From the BBC World Service… After a bruising week in Australian politics, the country’s treasurer, Scott Morrison, has been sworn in today as the new prime minister. Then, controversy this week over President Trump’s attention on South Africa – we’ll dissect what’s happening with the country’s land-reform efforts and what impact it all has on the economy. Afterwards, Goldman Sachs introduced new benefits for working mothers breast feeding their children this week, it’s a trend that’s gaining momentum across the world. We chat with one mother who founded her own company aimed at alleviated stress for working moms.

Today's show is brought to you by Indeed (Indeed.com/marketplace) and Carbonite (www.carbonite.com). (08/24/2018)

Remember how the Republican tax overhaul put a $10,000 limit on state and local tax deductions? And several, mostly blue states, have been trying to find shall we say "innovative" ways around that. Well the Treasury Department is saying no to those efforts, not today. Then, central bankers, finance ministers and economists from the around the world flew to the mountain resort of Jackson Hole, Wyoming this week. They’re there for an annual economic symposium hosted by the Federal Reserve Bank of Kansas City. One focus of this year’s event is on so-called "superstar" firms like Amazon, which is a half-million employees strong, and whether these giant companies are partly responsible for holding down wages. 

Today's show is sponsored by Indeed  (Indeed.com/marketplace) and Carbonite (www.carbonite.com). (08/24/2018)

(U.S. Edition) The latest round of tariffs on imports China went into effect overnight, covering $16 billion worth of imports. China immediately retaliated with their own tariffs, but businesses in the U.S. are focused on the next round of tariffs covering $200 billion worth of imports. The Office of the U.S. Trade Representative is in the middle of six days of hearings on tariffs. We hear from some business owners who testified in those hearings. In China, state media commentaries suggest people in China will be able to weather the trade tariffs for the sake of national pride. We look at a Chinese family’s use of American products. Also, don't have a will? You aren't alone. When the Queen of Soul, Aretha Franklin died last week at the age of 76, she left an extensive catalog of music for the world to enjoy for years to come. What she didn't leave was a will, which means her family — with the help of lawyers — will now go through the courts to figure out how her assets will be distributed. 

Today's show is sponsored by Indeed (Indeed.com/marketplace) and by Abby Connect (abbyconnect.com).  

 (08/23/2018)

(Markets Edition) Michael Cohen, the president's former lawyer, has admitted to arranging for the parent company of the National Enquirer to pay $150,000 to former Playboy model Karen McDougal. This was to essentially buy her silence over her account that she had had an affair with President Donald Trump which Trump denies. The idea was American Media Inc. would buy the rights to the story and then just sit on it. But prosecutors say this coordinated effort wasn't just about stopping stories from getting out. Paying hush money and sitting on stories isn't necessarily illegal. Columbia Law School professor Richard Briffault says the legal problem is that because these coordinated efforts helped the Trump campaign, they become a contribution to the campaign. We talk to him on the show. Also, jobless claims are out today, 210,00 people filed for unemployment benefits. That number is low, but one analyst says maybe too low. Then, a story from California where a bill is under consideration that would legalize the sale of meals made in homes.  

Today's show is sponsored by Indeed (Indeed.com/marketplace) and by Abby Connect (abbyconnect.com).  

(08/23/2018)

(Global Edition) From the BBC World Service… Business leaders have been banging the drums about the rising risks of a no-deal Brexit when the UK leaves the European Union next spring. But the British government today is publishing a series of papers about what to do in exactly that kind of situation. We’ll hear from the Brexit secretary himself, and a Welsh farmer who does business with EU nations. Then, tariffs on $16 billion worth of Chinese imports to the U.S. go into effect today as a new round of talks between the two countries kicks off in Washington. We’ll take you to Beijing where one company illustrates China’s global ambitions – and America’s worries. (08/23/2018)

(U.S. Edition) President Trump's former campaign chairman Paul Manafort was found guilty of tax and bank fraud yesterday, only minutes after Trump's former lawyer pleaded guilty to breaking campaign finance law. But that's not all, Manafort still faces another trial next month on accusations that he failed to register as a foreign agent. So, what's at stake in that next trial? What does it mean that he was acting as a foreign agent? How many people act as foreign agents? We break it down. Intelligence officials have warned that foreign hackers could once again target state voting systems in the November elections, as they did in 2016. So, states are spending on election security, but is it enough? Also on the show: There’s new interest among Canadians in buying domestic products that’s been sparked by new trade tensions with the United States. But, first some Canadians had to figure out what’s actually "Made in Canada." Today's show is sponsored by Indeed (Indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (08/22/18)

(Global Edition) From the BBC World Service…Workers stayed home and many businesses were at a standstill as Venezuelans tried to adapt to their new currency. The government says the measures will help combat hyperinflation, but critics say it’ll just make the ongoing economic crisis there worse. Then, new action by Facebook and Twitter to fight misinformation campaigns on social media ahead of the mid-term elections. Afterwards, summertime means peak tourist season, but some say millions are indulging in an unhealthy appetite for travel. We’ll take you to Edinburgh in Scotland where the largest arts festival in the world is happening and residents are finding it harder to deal with the influx of tourists. (08/22/2018)

As of today the stock market is on a record tear, this is the longest bull market ever at least by one definition. The S&P 500 hit bottom on March 9, 2009 when it closed at just 676. It's been more or less heading upwards ever since and yesterday it closed just shy of 2,900. We'll get into what this means for the economy and what exactly constitutes a bull market. Plus, we talk to Susan Schmidt, senior vice president at Westwood Holdings about how this bull market is different than others. Also, U.S. travelers to the U.K. and the eurozone face two currency hurdles: calculating pound and euro prices in dollars and dealing with the higher cost of goods and services over there. How do they cope? With a little magical thinking. 

Today's show is sponsored by Indeed (Indeed.com/marketplace) and Michigan Economic Development Corporation (planetm.com). (08/22/18)

(Global Edition) From the BBC World Service … Chinese and American officials are meeting in Washington today to discuss the ongoing trade spat – and overnight President Trump again ramped up pressure saying China is “absolutely” manipulating its currency. But what exactly does that mean, and what implications could it have on the souring relationship between the world’s two biggest economies?  Afterwards, it’s not just the U.S. and China caught up in a trade spat – most Asian economies are intricately linked to China through their supply chains. What hurts Beijing can also hurt other nations like South Korea, Taiwan, and Singapore. Today’s show is sponsored by Alliance For Lifetime Income (retireyourrisk.org/advisors) and Indeed (Indeed.com/marketplace). (08/21/2018)