Money Talking

After months and months of speculation, former Vice President Joe Biden announced he’d be running for president in 2020. Already an early frontrunner, Biden joins a crowded field of potential Democratic nominees. There are now more than 20 candidates running, from policy wonk Elizabeth Warren to newcomer Pete Buttigieg to 2016 veteran Bernie Sanders.

The Iowa caucuses are nine months away and if everyone stays in the race, it could challenging for voters to keep track of where the candidates stand on critical policy issues like healthcare, taxes, and climate change.

This week on Money Talking, WNYC's Charlie Herman talks to Rick Newman, senior columnist for Yahoo Finance, about some of the fiscal policies being put forth by the Democratic contenders — and what they might mean for your pocketbook. 

"Avengers: Endgame" is officially opened at movie theaters across the country. It’s the most highly-anticipated movie event of the year and is expected to set a new box office record. Iron Man, Captain America, Black Widow, and the whole Avengers crew are back to do battle with super villain Thanos after he wiped away half of the universe’s population with a single snap of his fingers in last year’s "Avengers: Infinity War."

The movie is the culmination of a groundbreaking superhero movie franchise that’s pushed out 22 films in 11 years, starting with the blockbuster "Iron Man" in 2008. With this movie, the so-called Marvel Cinematic Universe is expected to easily bring in more than $20 billion in global box office earnings. Love it or hate it, this franchise has become one of the most ambitious commercial endeavors in the history of Hollywood.

This week on Money Talking, Charlie Herman talks to Adam B. Vary, senior film reporter at BuzzFeed News, and Hunter Harris, associate editor at New York Magazine’s Vulture, about how the Marvel universe has changed the movie business.

Uber has taken its first steps to becoming a publicly traded company, following rival Lyft’s debut on the stock market last month. The initial filing from Uber reveals even more extensive details about the company's revenue, ridership and potential roadblocks.

The good? Ridership is up and Uber is expanding its food delivery service. The bad? The rid-hailing company is losing huge sums of money and faces steep competition.

This week on WNYC’s Money Talking, Charlie Herman talks to Aaron Elstein, Senior Reporter for Finance at Crain's New York Business and Maureen Farrell, IPO and markets reporter for the Wall Street Journal, about the latest information about Uber and what is says about the future of tech and driving.

Much of the way influential consulting firm McKinsey & Co. operates is shrouded in secrecy. But recent reporting by the New York Times has revealed some of the company’s secrets, including its involvement with controversial companies like Purdue Pharma, the maker of OxyContin, as well as foreign leaders and governments in Saudi Arabia and South Africa. Additional stories have focused on the firm’s hedge fund MIO and alleged failures to make required financial disclosures.

McKinsey has defended its work around the world. In a statement, the firm told the Times that “since 1926, McKinsey has sought to make a positive difference to the businesses and communities in which our people live and work.” 

This week on Money Talking, Charlie Herman talks with New York Times investigative editor Walt Bogdanich and investigative reporter Mike Forsythe about their reporting on the often hidden world of McKinsey and why it matters.

New York City just became the first city in the country to implement congestion pricing. As part of the effort to ease traffic and raise money to fix public transportation, drivers entering Manhattan below 60th Street could pay between $10 and $15 per day for cars and possibly double for trucks. But how the system will work technologically, who might be exempted from paying the fees and how much they will actually raise are details that have yet to be decided. Cities like London and Stockholm have already implemented congestion pricing, but with mixed results. This week on Money Talking, Charlie Hermanand WNYC transportation reporter Stephen Nessen talk about the ways congestion pricing will cost you, and how it might pay off.

Advertising has become a big business for Big Tech—and it keeps getting bigger. Google now controls a whopping 91 percent of the search advertising market.

The tech giant’s monopoly means it’s almost impossible for businesses not to advertise with Google. That’s especially true if you’re a company that exists entirely online, like the ride-sharing app Lyft, or mattress brand Tuft & Needle. Lyft, for example, spent 92 million dollars on ads placed with Google last year. As a recent article in Bloomberg notes, that’s about 10 percent of Lyft’s 2018 net loss.

And if a business decides not to advertise on Google, a competing brand might buy its keywords and place an ad against them. It’s an advertising Catch-22.

This week on Money Talking, Ilya Marritz speaks with Jake Swearingen, a contributor for New York Magazine’s Intelligencer, about how Google came to dominate search advertising—and what it means for businesses and consumers alike.

It’s been nearly three years since a majority of people in the United Kingdom voted to leave the European Union. One of the arguments made by many Brexit supporters was to “take back control.” Lately, however, the opposite has been true as the process spirals out of control.

Britain was on track to leave the E.U. one week from today, but a last minute reprieve has given British Prime Minister Theresa May a new deadline of April 12, to come up with deal.

No matter when or exactly how Brexit occurs, analysts expect there will be financial and economic consequences for the country. Already, the uncertainty has hurt businesses and overall economic growth. 

This week on Money Talking, WNYC's Charlie Herman speaks with Eshe Nelson, economics and markets reporter at Quartz about the effects of Brexit on that nation's economy and its people. 

Hudson Yards is officially open to the public. What was once the site of warehouses, tenements, and rail yards is now home to the largest development in New York City since Rockefeller Center. From the initial idea to the opening this week, it’s taken nearly 20 years— and $25 billion — to create the sprawling 28-acre megaproject on the west side of Manhattan.

The new neighborhood features supertall glass towers, luxury apartments, a high-end retail and restaurant hub, and a climbable honeycomb-like structure called the Vessel. And this is just phase one. Debuting in April, a new arts center called The Shed will be home to art galleries, concerts, and theater performances. There are also plans to build more public space, housing, and and even a new school. It’s a carefully-curated new neighborhood built from scratch.

This week on WNYC's Money Talking, Charlie Herman talks to Greg David, columnist at Crain’s New York Business, about the long road to the new Hudson Yards.

It’s been about eight months since President Trump launched a trade war with China, and it looks like we might be approaching an agreement between the two nations.

Trump says that trade relationship with China has been unfair to the U.S. To force a change, he’s put in place punishing tariffs on Chinese goods to gain leverage. But that’s also punishing some in the U.S., like farmers, automakers manufacturers and even some consumers.

If the deal is made, the big question will be, was it all worth it? On this episode of Money Talking, Charlie Herman talks with Rick Newman, senior columnist for Yahoo Finance, about how the impact of the trade war and what, if anything, the deal will change.

If you're depending on a tax refund this year to pay loans, make a down payment on a car or take a vacation, you might be out of luck.

According to the IRS, average refunds have been lower compared last year. If the trend continues, many Americans will end up with a smaller refund or worse — they may owe the government. Residents in high-tax states, like New York and New Jersey could see a bigger swing because President Trump's tax code overhaul capped deductions for state and local taxes.

But it doesn't mean people paid more taxes overall. The amount the IRS withheld from each paycheck was lower, so many people had a little more money each time they got paid. But it's a big change for those Americans who've become accustomed to pocketing some extra cash during tax season.

On this episode of Money Talking, Charlie Herman talks to Heather Long, economics correspondent for The Washington Post, about why this is happening and the political consequences it might have.