35 Burst results for "David Brancaccio"

Ransomware Attack Hits Universal Health Services

Marketplace Morning Report with David Brancaccio

00:55 sec | 2 d ago

Ransomware Attack Hits Universal Health Services

"What appears to be a major ransomware attack on the computers of universal? Health, services one of the largest hospital chains this affects hundreds of locations. Marketplace's Nova Sappho has more a network outage at universal health services, hospitals, and clinical facilities across the country began overnight Sunday forcing employees onto paper backup systems cybersecurity experts say the incident is likely a ransomware attack in which hackers lockup. Computer networks often stealing information and demand payment to restore access. There were anecdotal reports of disrupted operations at various hospitals from Wi fi based patient monitors not functioning to emergency room wait times growing exponentially and canceled surgeries. Universal Health Services released a short statement saying it's network is offline due to an IT security issue and that no patient or data appears to be compromised

Universal Health Services Nova Sappho WI
The U.S. To Limit Access To TikTok And WeChat On Sunday

Marketplace Morning Report with David Brancaccio

00:32 sec | Last week

The U.S. To Limit Access To TikTok And WeChat On Sunday

"The federal government said today it will ban we chat from US APP stores starting Sunday night. Also, we chat users in the US will be banned from using the APP to process payments or transfer money us. Companies will be prohibited from providing. Internet hosting four, we chat starting Sunday and for Tiktok the social media company beginning November. The twelfth an alliance with Oracle of California and Tiktok is being reviewed by the trump administration in a bid to resolve national security concerns about tiktok access to US user data.

United States Federal Government Tiktok Oracle California
India records world's highest increase in new COVID-19 cases

Marketplace Morning Report with David Brancaccio

02:08 min | 2 weeks ago

India records world's highest increase in new COVID-19 cases

"Now, where another record rise in daily Corona virus infections has brought the country's total case count to above five million it's adding more new cases a day than any other country in the world fueling concerns about how the economy will continue to cope with the pandemic official forecasts predict a ten percent contraction this year the government has allocated tens of billions of dollars to help battle the economic crisis but there's some head-scratching today over a new multi million dollar contract that's been awarded to Indian conglomerate Totta the BBC's around Mukherjee. What we're looking at is one hundred, seventeen million dollars to refurbish the existing parliament complex. But this is part of a larger two point seven billion dollar government project to give a face lift and modernized old colonial era government buildings in the heart of Delhi even when this plan was initially announced, which was in October last year many questioned the need to spend so much at a time when India is just coming out of its lockdown batting, a rising number of one thousand cases growing at an alarming rate, the economy has contracted by the worst in decades. Where does the government going to get this money from as you say why? Hasn't the government put this plan on ice of the government says that look this parliament complex dates way back to the nineteen twenties now since then various parliament constituencies have increased and therefore so have the number of parliamentarians and the staff there simple argument is this complex isn't big enough. The also interestingly want to build despite twenty, twenty two so that it can coincide with India celebrating seventy five years of its independence, and where's the government GonNa get the money to fund this project that is million dollar question in the same week on Monday. The government asked for parliamentary approval of to infuse nearly two point seven, two, billion dollars to. Help the ailing banking sector here in India deal with the prospects of bad loans which are likely to rise. So the message that the government has given is that we are cash strapped, but the question is, where are you going to get this money from for this kind of luxurious project at a time when India is battling a national crisis, more questions than answers then the BBC's democracy in new. Delhi. Thank you. Thank you.

India Parliament Delhi BBC Official
Nvidia to buy UK's Arm, sparking fears of chip dominance

Morning Edition

01:43 min | 2 weeks ago

Nvidia to buy UK's Arm, sparking fears of chip dominance

"I'm David Brancaccio in video of Santa Clara, California makes powerful microchips for playing video games. There's news it is buying a quietly ubiquitous tech company based in Cambridge, England. For $40 billion. You may have arm Holdings Tech in your pocket or purse right now. Marketplaces. Nervous offer is on the line here. Nova. Why so much money to link to somewhat? Obscure companies. Well, David, you said it arm is practically ubiquitous. It's a 90% of smartphones out there both Apple and android phones and what harm does is design poop blueprints to make the microprocessor chips that go inside nearly everything that computes armed licenses this technology to anyone who wants it, so Qualcomm, a big chip maker, uses it also. Apple Samsung China's wall away. With arms technology and so many gizmos. It makes it easier for these devices to talk to each other. So toasters talking to smartphones that kind of thing. Meanwhile, in video, as you mentioned is big in video gaming world and in artificial intelligence, it makes powerful computer chips and this deal will catapulted into the broader tech ecosystem. Is that why I'm already seeing some objections? Tio this deal. That's right. Just hours after the deal was announced, there were already signs that there's a tough road ahead to get this deal approved. There are a number of questions first in video makes chips as we said, so how will it treat competing chip makers who want to keep licensing arms technology? In video says it will remain neutral. But regulators will want to answer that question. Also, China will be involved because in videos buying a Chinese subsidiary of arm so how will U. S China trade tensions Playing to this? All of this remains to be answered these questions. All right, Nova Soph. Oh, thank you.

David Brancaccio Arm Holdings Tech Apple Santa Clara China Nova Soph Cambridge California Samsung China Qualcomm U. S China England
AstraZeneca pauses coronavirus vaccine trial, shares slip on rollout doubts

Marketplace Morning Report with David Brancaccio

00:39 sec | 3 weeks ago

AstraZeneca pauses coronavirus vaccine trial, shares slip on rollout doubts

"No Work? No pay no food coronavirus lockdowns have forced many people all over the world to wonder where their next meal's will come from according to Matthew True. Scott Oxfam International's head of Humanitarian Policy About one hundred and twenty one million people have been pushed to the edge of starvation. This year not of course is across the main hotspots you would expect Yemen Democratic Republic of Congo of Gunston Venezuela, south. Sudan we're also seeing hunger coming up in otherwise middle income or developing countries. India South Africa Brazil CETERA. Look at a situation in the world where you have about sixty sixty, one percent working in the informal economy when that denied that daily income forced to stay at home they no longer get that income and that forces them into some of the negative coping strategies and that's what makes this crisis so unique. People. Couldn't travel to work which meant they couldn't make money and they couldn't buy food but this isn't just a short term problem. Is it Yeah and it has sort of long term impacts where, for instance, if you take people who are living day to day selling milk, if they can't sell milk for a few days, it gets point whether then have to do something to have food and income then have to sell their means of income. So selling the cow which had been providing them and then conquered back to generate income and same happens instead of urban areas where people who had been, for instance, taxi drivers after. So long of not being able to take fares and give taxi rights eventually then have to start selling off assets to cope and that's where we're really. Seeing potential long-term structural breakdown, and as you say, this is a problem that existed before the pandemic. So how do we tackle it this time around does it require new solutions? It does with sort of proposing three solutions. The I of course is that we need to increase humanitarian aid drastically the U. N. Global Humanitarian Appeal has called for about ten point, three billion dollars in humanitarian aid. But only about twenty, four percent of that is funded. So less than a quarter, the second thing that we can do is cancelled some of the debt that could free up up to a trillion dollars, and then of course, the final thing is. Exactly, as you say, we do need to change how system works. We need to build a more fair and more robust food system. We need to build a system that's ready to deal with the climate shocks that's able to produce sustainable food. One that supports a small-scale Farmers Informal Workers, Matthew Scott head of humanitarian policy at Oxfam International. Thanks for your time. Thank you so much

Humanitarian Policy Scott Oxfam International U. N. Global Humanitarian Appe Matthew True Farmers Informal Workers Gunston Venezuela Oxfam International Democratic Republic Of Congo Matthew Scott Sudan India Yemen
China’s new tech export rules could further complicate TikTok’s U.S. sale

Marketplace Morning Report with David Brancaccio

00:22 sec | Last month

China’s new tech export rules could further complicate TikTok’s U.S. sale

"The Chinese government laid on Friday updated its export rules in a way that could delay the sale of tiktok revising list of technologies that would need to get approval before export such approval could take thirty days. Even as the trump administration has said a mid-september deadline to complete the sale of tiktok US operations to one of several. Suitors including Microsoft Walmart and

United States Microsoft
How the Pandemic Is Creating an Odd Boom in Real Estate

Marketplace Morning Report with David Brancaccio

02:09 min | Last month

How the Pandemic Is Creating an Odd Boom in Real Estate

"The pandemic is creating this odd boom in real estate. I'm David Brancaccio people lucky enough to keep their jobs during this pandemic seemed to be pondering their living situations a lot. The quarterly sales reporter by home. Depot today were up twenty five percent year-on-year increase double what was expected, and there's news that builders started work on a lot of new single family homes. Last month up twenty three percent Jeffrey Cleveland is the chief economist at the Investment Company Payden and Regal in Los. Angeles Good Morning Good Morning, David I mean you look at this new home data and you want a statistic. Leading Economic Indicators. Which sometimes, it is during normal times. But how much can we draw about the wider economy? What kind of conclusions can we draw about the wider economy based on construction of new homes? The reason why that tells us a lot about the economy is because housing is tied in to the web of the economy. So you know intimately there's employment they're spending the goes into a new home activity, and so you tend to see good sales data as well. I think in part that's why we are seeing retail sales bounce in recent months in sympathy with the housing data. Also things like spending at Home Depot, which we're hearing was topping expectations here for the second quarter. There's an inequality angle though because if you're have the wherewithal during pandemic to think about buying a new house so that the developers get all excited about building new homes. I mean, that's some people in this economy, but others are renters and the living more tenuously. WELL WE S-. We saw yesterday data on mortgage delinquencies switcher starting to creep up. But I am worried David that one of the things fueling all this. It's made this recession unique is the federal. Relief payments that went out really through the months of April May June July big chunk of that ended in. July and as yet it's unclear how or when that will be extended and I and I think that you know leaves question marks for the durability of this

David Brancaccio Home Depot Chief Economist Reporter Jeffrey Cleveland Angeles LOS
UK plunges into worst recession of any major economy

Marketplace Morning Report with David Brancaccio

01:38 min | Last month

UK plunges into worst recession of any major economy

"The British economy is officially in its steepest recession record after contracting twenty point, four percent between April and June taking the different timings of lockdown into account. It's also one of the worst performers in Europe so far this year as the UK, went into lockdown shops, shuttered factory and construction activity ground to a halt and household spending plunged. The BBC's swooping chant explains the scale of the decline. It's bad whether you're making things in a factory selling stuff on the shop floor building a house, all the sectors in the economy declined between April and June the UK's performance was also worse than many other economies like Germany, the US, and that's because we do more things that involve social interaction. For example, we've got the big soccer league in the world we also go to concerts and live entertainment venues. None of that was happening between eight four in June in the first half of the year. The UK economy contracted by around twenty two percent. That's about double the contractions. Seen in America and also Germany but things have started to look up so far in the third quarter, and there are a lot of government programs aimed at getting people out to eat at restaurants, visit pubs, going shopping all those are signs that things will be coming back in the last half of the year. If you just walk outside the building, you know there's lots of tables outside lots of diners sitting outside activities coming back. Retail sales are almost back to levels. They were before the lockdown and ten million people according to the government have taken advantage of a special scheme. To them half price dining out. So things are looking on the are largely due to government support

UK Germany Europe BBC Soccer United States America
The latest on TikTok: Microsoft takeover talks, a potential U.S. ban and more

Marketplace Morning Report with David Brancaccio

01:38 min | 2 months ago

The latest on TikTok: Microsoft takeover talks, a potential U.S. ban and more

"Latest flareup between the US and China is tiktok again, the video sharing APP president trump threatened to ban the APP Friday some policy makers of said TIKTOK poses a national security risk because it could share the US user data with the Chinese government. Something tiktok has repeatedly denied tiktok parent company in China Bite Dance says despite. A possible ban in the US it remains committed to its global audience for more. Here's marketplace's China correspondent. Jennifer, pack Shanghai tiktok owner by dense is headquartered in Beijing, and because of this US officials are worried that by dance could let the Communist Party of China access. The data tiktok collects from American users and allegation denied by Bite dance and the Chinese government over the weekend by dance released A. Statement on Chinese social media saying the firm faces all kinds of quote complex and unimaginable difficulties alluding to the U. S., China trade tension plus cultural differences by dance also accuses facebook. It's competitor in overseas markets of smear and plagiarism. No doubt referring to facebook's release of a Tiktok like product called instagram reels a memo from BITE DANCES CO to its staff leaked to the Chinese tech new site. Ping West. Says Tiktok is committed to serve American users and has no choice but to sell its US operations Microsoft confirms it is now currently in talks to take over tick talks operations in the Canada Australia and New Zealand. A few comments on the Chinese web say US Action Against Tiktok is fitting since China locks US tech giants like facebook, Google and twitter in Shanghai I'm Jennifer pack for marketplace.

China Bite Dance United States China Tiktok Facebook Chinese Government Communist Party Of China Shanghai Bite Dances Co President Trump Jennifer Ping West Beijing Microsoft Instagram Twitter New Zealand Canada Google
China's Economy Appears Back on Track

Marketplace Morning Report with David Brancaccio

00:15 sec | 2 months ago

China's Economy Appears Back on Track

"Is reporting that its economy grew three point two percent in the second quarter from the same time last year. That makes it the first major economy to rebound since Kovic hit for comparison China's economy shrank six point. Eight percent in the first

China Kovic
China imposes sanctions on U.S. senators Rubio, Cruz over Xinjiang advocacy

Marketplace Morning Report with David Brancaccio

01:10 min | 2 months ago

China imposes sanctions on U.S. senators Rubio, Cruz over Xinjiang advocacy

"Hungary, Janus Henderson, who did this survey reckons? That's going to be about nine trillion cumulus, if speaking of debt around four companies now debt debt by itself is not good or bad. It just depends whether you can repay it or not. The authors of the forecast also say that debt has been going up faster than prophets of growing over the past few years. That is worrying, but as you alluded to interest rates around the world have been so low. Is this debt pile necessarily a problem for these companies? Well the lower interest rates off the easier. It is to pay that money back, but at some point interest rates will have to go, and that could be a problem for companies now. The worry is that when company stock coming out of the bad times caused by the corona virus. Whether they of making prophet or not. They still have to pay the interest in payback the debt. It's interesting. The chief economist of the International Monetary Fund last week was saying that perhaps governments should think again about lending money to so many companies to help save them, but think more in terms of perhaps buying shares or coming up with financial instruments that are more light buying shares equity say

Janus Henderson International Monetary Fund Hungary Chief Economist
French government resigns as Macron acts to recast presidency

Marketplace Morning Report with David Brancaccio

01:38 min | 3 months ago

French government resigns as Macron acts to recast presidency

"Political maneuvering in France as President Emmanuel macron looks to put years of economic upheaval behind him live from London. This is the marketplace morning report from the BBC World. Service, Victoria Craig Good Morning French Prime Minister Edward Felipe and his government resigned this morning after speculation president. macron was planning a reshuffle with two years left of his term. It comes after disappointing. Local election results from the President's Party last weekend years of yellow vest protests over. Over economic inequality in the country and months of hardship, as the country battled the coronavirus pandemic, the BBC's Lucy Williamson has more from Paris the statement from the Elysee Palace. This morning was very brief. It gave absolutely no details. No context what's behind this reshuffle. Did he jump? Was He pushed? What's really going on in the corridors of Power Emmanuel? macron has said he wants to re imagine the presidency. He wants to set a new. New Course he wants to mark the Post Covid era in France. He does have a tough road ahead. He came in with very sets ideas about what was wrong with France how to fix it how to reform it. It's been a couple of years of almost constant protests and upheaval in France because of those reforms, and because of his determination to push through and the corona virus epidemic has left France with a greatest sense of. Of Inequality, so in eastern signal that he's now in a new phase corona viruses behind them the worst of the corona virus epidemic Baker. Hope is behind them, and he's setting out a fresh stool, but I don't think his core ideas have changed, and I think he's going to run up against the same opposition. You did before

President Emmanuel Macron France BBC Elysee Palace President Trump Edward Felipe Victoria Craig Lucy Williamson Prime Minister London Paris President.
Disneyland to delay reopening theme parks and resort hotels

Marketplace Morning Report with David Brancaccio

00:58 sec | 3 months ago

Disneyland to delay reopening theme parks and resort hotels

"Has already reopened some theme parks in Asia, but the US is proving to be more tricky. Amid a resurgence of corona virus cases likely tracing back to memorial, day, when many states began loosening restrictions in Florida were more than one hundred nine thousand cases have been reported. Capacity's already thinning hospital. Intensive care units even as Disney goes forward with plans. Plans to reopen its massive theme park there next month. A workers petition online is calling for the company to reconsider in California Unions representing Disneyland Employees. Some seventeen. Thousand of them are also balking at reopening plans. Their Disney announced it will postpone a planned mid-july reopening, citing delays in getting guidelines from state officials. California is in the midst of an alarming rise. In cases, a record spike came Tuesday bringing the state total to more than one hundred ninety thousand shuttered theme parks have already cost Disney more than a billion dollars in profits.

Disney Disneyland Employees California United States Asia Florida
Supreme Court rules landmark federal civil rights law protects LGBTQ workers from discrimination

Morning Edition

02:24 min | 3 months ago

Supreme Court rules landmark federal civil rights law protects LGBTQ workers from discrimination

"I'm David Brancaccio we're following the Supreme Court ruling yesterday that the nineteen sixty four federal anti discrimination law does protect lesbian gay bisexual and trans people from discrimination in hiring and on the job more than twenty states in some municipalities had laws against this kind of bias but human resources experts tell us the company should update language in employee handbooks to explicitly make clear that discrimination based on sexual orientation will not be tolerated harassment and discrimination can arise at any workplace marketplaces Mitchell Hartman now looks at schools both public and private with the supreme court's six to three decision that employers may not engage in gender based discrimination against gay lesbian bisexual and trans and please L. G. B. T. educators will finally have the protection travel with dessert and be able to do their job treatment here that's all lies a buyer's executive director of the education advocacy group glisten she says until now L. G. B. T. teachers and more than half of US states have had little or no legal protection from employment discrimination we had an example of a teacher of the year in taxes disbanded for having come out to students in her classroom because they asked about the picture of her spouse the supreme court's decision will cover teachers and administrators employed by public and charter schools as well as many private schools but there's a clear carve out for religious employers says cal state Long Beach legal scholar Jason white head justice Gorsuch is majority opinion does acknowledge that churches are exempt from many federal civil rights laws and that'll likely include most private religious schools Tom prole teaches law and sexuality at Seton Hall University and is an advocate for LGBT employment protections certainly this won't reach into any sort of parochial school environment there is a law federal law on the books of religious freedom reach an act that certainly would protect religious institutions in this regard they be free to discriminate this as it were meanwhile in the wake of yesterday's Supreme Court decision trump administration education secretary Betsy to Voss faces increasing pressure to issue new federal guidance protecting LGBT teachers and students from gender based discrimination by Mitchell Hartman for market

Betsy Secretary Tom Prole Jason White Long Beach L. G. B. T. Supreme Court Voss David Brancaccio Seton Hall University Gorsuch United States Executive Director Mitchell Hartman Harassment
France announces $16.9 billion in aid to aviation industry

Marketplace Morning Report with David Brancaccio

02:12 min | 4 months ago

France announces $16.9 billion in aid to aviation industry

"The French government declares a state of emergency for its aerospace industry live from London. This is marketplace morning report from the BBC World Service I'm Victoria. Craig Good Morning France Economy Minister. Today unleashed another roughly ten billion dollars in emergency aid for the nation industry, which is struggling from a drop in demand, due to corona virus travel restrictions the government support for the industry. Industry now totals nearly seventeen billion dollars including a previously announced rescue package for the airline air. France KLM the BBC. Legged explains how today's fresh funding will be allocated one and a half billion euros for research into decarbonisation of aircraft, trying to green at the industry, an investment fund for Small and medium-sized enterprises, which will start off at half a billion euros and rise. Rise to a billion over time. What this package is about is clearing up the damage that has been done by the COVID nineteen crisis. It's a huge industry. In France it employs nearly two hundred thousand people and the city of to lose him. The South West where Airbus has, its headquarters is massively dependent on this industry and the theories, the with aircraft production having. Having declined by more than a third since the crisis, the thousands of people could be laid off and to lose could become Europe's Detroit, so the French government is very keen to over the crisis, and then to provide the foundation for future growth as well. The Global Aviation Industry has been struggling to stay afloat amid the COVID, nineteen, pandemic and today. It's not. Not just France, but Hong Kong's flag-carrier. Cathay Pacific also received. Government assistance yes. Catholic Pacific has been very badly hit by the COVID nineteen crisis, and even before that it was feeling the effects of civil unrest in Hong Kong, which was deterring people from travelling, so there's a large bail out package. Does the government investment worth about two point six billion dollars a government? Government loan worth another billion and the existing shareholders of Catholic Pacific, the main ones being swire China and castaways putting more money in as well about one and a half billion dollars, so it's to help tiny airline over until traffic picks up again. The BBC's the delegate. Thanks so much. You'll very welcome. Victoria

France French Government BBC Covid Hong Kong Global Aviation Industry Cathay Pacific Catholic Pacific Craig Good Victoria KLM Airbus Legged Europe London South West Swire China
ECB to Judge If Trillion-Euro Stimulus Is Enough

Marketplace Morning Report with David Brancaccio

02:30 min | 5 months ago

ECB to Judge If Trillion-Euro Stimulus Is Enough

"Despite today's data showing the damage corona virus has done to the euro-zone economy in the first quarter European shares. Are Little changed now. The focus turns to the European Central Bank. It's so far pledged more than one trillion dollars in support but chief Christine Lagarde has said there are no limits to the tools the e C could use to fight the crisis. I N G is Karston. Bresca explains when more measures could be deployed. I think they'll have to announce something soon not necessarily today. 'cause we now have two six extremely exciting week since the last meeting with lots of announcements new. Q. E. The pandemic emergency program and I think right now is the moment to take stock and then wait until the June meeting will also bring the latest around a forecast and to that point second quarter data could arguably be worse than the first quarter data. We're seeing today. The has been crystal clear that government support through fiscal spending measures needs to be bolstered. Ten governments do more. Governments can definitely do more. Interest rates are extremely low. There is lots of loans being made available for for governments. They are territories in the north. East we can still do something. Warmness is to to calm. Financial markets and the other one is to provide ample liquidity into the banking sector. That banks are able and willing to provide them nose to the read economy. Well no the latest. Ecb policy decision at seven forty. Five eastern time I N G chief economist Karston Brodsky. Thanks so much for your time. You're welcome well. As officials work to combat the economic impact of covert nineteen hopes arising here in the UK for Corona virus vaccine to prevent more people from getting sick pharmaceutical giant. Astrazeneca has signed a deal with Oxford University to produce and distribute a drug as the BBC's Stephen Ryan reports. The vaccine is still in the early development and testing stages and there's no guarantee but the UK's Health Secretary Matt. Hancock said today the new agreement between Oxford and AstraZeneca gives the UK the best chance of a breakthrough to defeat this corona virus. Several hundred people have so far taking part in clinical trials at Oxford University. But Sir John Bell a professor of Medicine says scaling up so enough doses can be manufactured. Has Its challenges the vials that you put the vaccine in. There's only two hundred million dollars left in the world now because they've all been sucked up by various people who can anticipate a vaccine coming along so so there's lots of challenges in getting this to work

UK Oxford University Astrazeneca Christine Lagarde European Central Bank Sir John Bell Karston Chief Economist Karston Brodsky E C Bresca Oxford ECB Hancock Professor Of Medicine BBC Stephen Ryan
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

03:27 min | 6 months ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"The Securities and Exchange Commission is working from home. But it's still very much working among other reasons. This time of pandemic is a fertile moment for insider trading. Let's consult Hi Marley. A former senior trial counsel for the SEC. Now a partner at the law firm Morrison foerster. Thanks for joining US remotely. Thank you for having me. So given the shock to the economy and so much in flux because of Corona virus the big question is how is covered nineteen affecting just about every business and if someone had some special information perhaps there may be an impulse to for people to do insider trading. Well it seems that there could always be an impulse for certain bad actors to do insider trading. It's also important to understand that this environment is very challenging for companies with respect to insider trading for two reasons first so many employees are working remotely second given the way that the virus is impacting business operations many employees and not just high level directors and officers have corona virus related material non public information so a hypothetical example could be inventory clerks working for a manufacturing company that noticed that an essential input to their company's key product that is normally delivered weekly has in fact not been delivered for weeks. And what's your sense? I mean the. Sec was the first Federal Agency to tell its employees to work from home. If there's anyone out there who thinks okay? They're not paying attention you think that the SEC's indeed paying attention. I think the recent trading suspensions as well as statements from the SEC. There have been a few so far so that the SEC is very much paying attention the SEC has already suspended. Trading in the stock of two companies due to concerns about the accuracy of Corona virus related information on the Internet The concern is maybe companies pumping up their stocks by circulating unsupportable claims or people acting on the company's behalf. Doing so sure it could even be. It could be that it appears in the case of one of these trading suspensions that the SEC said that the inaccurate information it was concerned about appeared to come from third party stock promoters. I'm a Marley. Is a former senior trial counsel at the Securities and Exchange Commission now partner at the Law Firm Morrison and foerster? Thank you so much thank you. You may have heard last week two. Us senators are denying. They did anything improper when they sold a lot of stock early in the Ark of the corona virus epidemic. You may have heard my interview. Friday with Rodney mcmullen. The CEO of Kroger the biggest supermarket chain. He's hiring ten thousand people but we also pressed him on. Kroger's emergency paid sick leave policy that applies to verified. Kovic nineteen cases. Well the next day Saturday kroger expanded that policy to cover two weeks paid leave for people who self isolate with symptoms of maybe the virus employees still need a doctor's note or something. The economy is arguably changing more radically now than at any time since the Second World. War Subscribe to our daily newsletter as a guide sign up at marketplace dot org slash newsletters. I'm David Brancaccio with the marketplace morning report from APM American public media..

SEC Morrison foerster Securities and Exchange Commis partner Kroger Us David Brancaccio Rodney mcmullen Second World APM American CEO
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

02:45 min | 7 months ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"Thank you for connecting. Thanks for having. Let's say you're looking at your portfolio today and you need your money like in two years. That portfolio looks different from someone who's thinking ten years or twenty five years for that matter in fact those are three very different portfolios if you have to have to have to have your money in two years and you. WanNa take very little risk. You're going to be a combination of money market funds and some high quality corporates. And that's a very low risk very low return portfolio that hopefully just keeps ahead of inflation. And what if you have ten years before you need the money? Historically we rarely see ten years go by without a positive return so a portfolio. That makes more sense for a person who's going need. That cash in a decade is going to be something like a sixty forty of classic portfolio that sixty percent broad-market indexes and forty percent bonds. You should see a better than inflation return in most ten year periods. And what if you can wait? Several decades twenty-five years is a long time in the stock market and you would wanna be progressive either. Seventy thirty or seventy five twenty five stocks and bonds the reason I never recommend people though all stock even though that portfolio would do better is exactly because of times like this or away. Don't nine or two thousand. You know the optimal portfolio isn't the one that returns the most money. But it's the one that you can live with and I can guarantee you that people who are in all stock portfolios. They're having a hard time looking at a market. That was hitting all time highs a month ago and now is down thirty percent of more. We've seen twenty trillion dollars in wealth disappear. Now it's only temporary and my best guesses once we get through the corona virus. It'll come snapping back but if you're up all night stressing over it and the only way you relieve that stress is selling well then. You're not gonNA participate when the market recovers have to take the good with the bad and this shell pass. Barry Ritholtz is a Bloomberg opinion columnists. He's also chairman and chief investment officer of ritholtz wealth management. Always good to talk to you. Thanks so much for having me and the Dow is down two hundred fifteen points now. One point one percent. I'm David Brancaccio with the marketplace morning report from APM American public media..

Barry Ritholtz David Brancaccio APM American chief investment officer
"david brancaccio" Discussed on KQED Radio

KQED Radio

03:22 min | 7 months ago

"david brancaccio" Discussed on KQED Radio

"LLC I'm David Brancaccio in New York the federal reserve has just cut interest rates by half a percent for this to happen between a formal policy meetings is highly unusual an indication of the urgency driving the decision what's called the fed funds rate the main way central bankers add or remove liquidity in the financial system was already low and it'll now run between just one percent in one and a quarter percent the fed's policy making committee was unanimous in its decision today the fed says it will continue to closely monitor developments with the corona virus and use appropriate tools to support the economy Karen Petrou is managing partner of the economic consulting firm federal financial analytics in Washington good morning okay surprise not even after a scheduled meeting of fed policy makers are you Karen reassured there taking action or maybe scared they even had to do this I'm troubled they did this because I really think that the fed is responding not to the economy but to the market and I really hate to see the central bank continue to exercise what used to be called the Greenspan put now it's become the Powell put when markets are shaky defense stepped in and rescues the traders that's not what the central bank is for yeah because now the traders are gonna know the fed is watching their back very closely the market that runs on moral hazard runs on fuel I would like to see some market recognition of we're supposed to have a sufficient markets with traders recognizing forward looking values that's not what we're doing everybody's trading on the fed and that is ultimately a dangerous game and you had some questions about whether or not cutting interest rates actually helps the problem at hand which is trying to help the world economy through concerns about the coronavirus I think it has virtually nothing to do with it the most distant figures out how to get the face mask manufacturing business what this is supposed to do is supply liquidity to the financial markets and ensure S. baseball economy by way of maximum employment and price stability this point there's no reason to intervene in now I know that people are you where you need to intervene early because it takes awhile for monetary policy to transit through the economy but the economy's problems had nothing to do with the cost of money which is already a extra record lows it has to do with the real world contagion and a virus a half a point isn't going to cure anybody it just doesn't our bedroom is co founder and managing partner of federal financial analytics in Washington thank you thank you David the chair of the fed will brief the media and about five minutes stock prices rose moderately in the wake of the drop in interest rates but in the last few minutes the markets turned mixed the Dow is down fifty two points two tenths percent the S. and P. and the nasdaq are little changed marketplace morning report is supported by the can data find working to advance individual dignity and sustainable communities through investments in transformative leaders and ideas.

David Brancaccio New York
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

03:24 min | 7 months ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"On a morning when many people with indirect or direct stakes in financial markets are worried about. What's happened in the last two days? Let's get a reminder that yesterday and today matter less than having a long long view some financial innovation and change in the federal rules mean many investors can worry less about the Dow day to day and make one. What is the date? You think you will retire. There are new data on water. Called target date. Funds Marketplace's senior economic contributor. Chris Farrell is here there. Are You Doing David? Let's start with definition. A target date fund is an option for some people in their retirement. Plan what is a target date fund right? So it's a diversified portfolio and invest. Mostly in riskier but higher potential return equities when retirement is way off in the future and it automatically reduces your exposure to stocks as you get closer to that retirement date and typically a target date fund comes in. Five Year increments. So if you were forty years old you might buy. Target Date Fund for Twenty Fifty Five. It's not guaranteed returns. But what it does is. It adjusts as you get closer to that time. So that you're less exposed to the using cake spearing language the slings and arrows of the market. I Love Shakespeare and finance this product. It relieves employees about having to decide how much I'm going to put in stocks. How much in bonds a window? I changed my percentages. I mean Look David. There's this whole cottage industry of behavioral economists and they've grown around this one insight that you and I know. Most of us are terrible at investing. We just don't know about the markets so with the target date fund. The only decision you have to make is make a reasonable guesstimate okay. I'm going to retire. Sixty five and then pick that fund. The thing is if you're not retired yet you may not have the time on your hands to be obsessing over your retirement plan. But what's another reason for the focus on these target date funds? Well this is what I got really interested with an economic study and there was this legislation. Two thousand insects and said look if someone signs up for your 401k plan but they don't pick in investment option. It's okay for employers to put them into the target date fund. They don't have to worry about some sort of legal liability. So the economists looked at these target date funds in the bottom line of their results. Is that the adoption of low-cost target date fund could retirement security by as much as fifty percent over thirty year period. Couple things their first of all these are employers that defaulted you into them. If you didn't proactively choose something else. Correct telling in itself but also you said a low cost target date fund. Did you not I did. And there's lots of target date funds and some of them at higher fees and some of them have more equities when you retire gets a little bit of a controversial area but when it comes to finance the innovations that really matter are the ones that make it. Simple to make a smart choice. Marketplace's senior economic contributor Chris Farrell in Saint. Paul thank you. Thanks a lot David. And on that point about retirement planning and William Shakespeare. I got two words for you King Lear New York. I'm David Brancaccio with the marketplace morning report vigilant from APM American public media..

David Brancaccio Chris Farrell William Shakespeare Funds Marketplace King Lear New York APM American Paul Saint
EU bets on industrial data, new rules to catch up in global tech

Marketplace Morning Report with David Brancaccio

02:12 min | 8 months ago

EU bets on industrial data, new rules to catch up in global tech

"New rules regulating big tech in Europe live from London this is the marketplace morning report from the BBC World Service. I'm Victoria Craig. Good morning the European Commission. Today is expected to unveil new proposals. For more oversight over tech giants like Google facebook and Amazon. The new rules are likely to focus on issues including algorithms access data and development of artificial intelligence. The BBC is Dave Malloy has more. We can expect a couple of things first up the head of the ease internal marcus tear. Britain is one of the people behind this and he has said some things taming the wild west behind this industry. It's very well known within Europe. That most of this new development is done by Chinese or American companies so in the United States you have companies like facebook and Google are developing these huge a indata industries whereas European companies have kind of fallen behind that regard. But there's also the issue of privacy and Europe is taken global lead on this in recent years with the GDP or privacy regulations which a lot of people around the world or privacy advocates. I should say are holding up as an example of how this should be done. All of this is aimed theoretically at making European tech companies more competitive. The European Commission would say that. That's not the goal and it's more about protecting citizens but if you look at the people behind this Oh Margaret Divestiture was one of the people who is involved in regulating apple's tax situation in Ireland a few years ago and again having dairy Britain who is in charge of the internal market stuff. That would suggest that there is some sort of market element to us and as well. It's important enough to these. Major companies that the head executives from Microsoft and facebook were both in Europe this week to talk to the Commission and put forward their stance. So if it's not aimed at making them more competitive. What is the goal so we know from some injuries ahead of time that they are looking at regulating? The more controversial uses of things like ai. There's some suggestions that they may look at facial recognition. Whether that's a privacy issue. There were concerns that they would bond such things a right but now it looks like the expectation is they will take on case by case basis whereas things like medical concerns or insurance or major. Privacy issues will be looked at much more closely. We're expecting a formal announcement to be made in the next couple of hours on these new rules the BBC's Dave Malloy thank you thank you.

Europe European Commission Facebook Dave Malloy BBC Google Bbc World Service Britain Victoria Craig London Margaret Divestiture United States Amazon Apple Microsoft Ireland
Coronavirus threatens Apple supply chain, sales; shares drop

Marketplace Morning Report with David Brancaccio

00:29 sec | 8 months ago

Coronavirus threatens Apple supply chain, sales; shares drop

"Shares of apple are also down more than three percent in premarket trade on Wall Street. That's after the tech giant warned revenue. We'll take a hit from supply chain disruption due to the corona virus outbreak. That's also putting pressure on shares of the company's European suppliers in Asia benchmarks which closed down more than one percent. German business sentiment has also been hit by worries about how the virus will impact global trade. A key gauge of the mood among investors plunged from twenty six point seven to just eight point seven in January

Apple Asia
"david brancaccio" Discussed on KCRW

KCRW

03:36 min | 8 months ago

"david brancaccio" Discussed on KCRW

"I'm David Brancaccio it is lunar new year's eve in China a time when families and friends gather but that tradition of holiday connection typically means an enormous amount of travel within China however this year there's the concern over the corona virus that has killed twenty six people in more than eight hundred people have been sickened according to the official figures authorities of lock down the city of Wuhan and several surrounding cities and plans are being changed nationwide including in Shanghai where I'm joined by market places China correspondent Jennifer pack hi there hi David how was the response to this virus changing what had been massive plans for travel well people are choosing to stay in twenty four hours ago I had invitations to a reunion dinner a weekend trip to eastern Zhejiang province to see a friend but wants to hunt was locked down even though we're five hundred miles away people are nervous about potential exposures so now I've been uninvited to both all right so micro affects and businesses well the travel industry is taking a big hit some four hundred million trips usually made during this holiday that's like travel in the U. S. during thanksgiving times three hotels and airlines are now being asked to refund travelers but there are two business is not suffering those selling face masks there's a shortage now and food delivery platforms food delivery what about the screening process for people who might be potentially infected so we've heard of patients being turned away from overcrowded hospitals authorities are building temporary facilities within the next few days to address this but there is a sense that officials are not revealing things in a timely fashion that's why people outside of the epicenter are almost in self imposed quarantine which impacts the local economy all right market place's China correspondent Jennifer pack in Shanghai thank you thanks David in the U. S. a second case of the corona virus was confirmed today Washington state was the first one this morning's was in Chicago checking markets the Dow is down twenty two points less than the ten percent the S. and P. five hundred is down two tenths percent the nasdaq is down two points the tenure interest rate is down at one point seven percent in an unprecedented move U. S. regulators have banned the former CEO of a big bang from ever working in the industry again in the settlement John Stumpf who ran Wells Fargo agreed to the forever ban in a seventeen and a half million dollar fine the penalties are tied to the fake accounts scandal that hit the headlines in twenty sixteen market place's novus awful has more John Stumpf was once a Wall Street star and the banking industry's highest paid executive but in twenty sixteen he resigned as C. E. O. of Wells Fargo after revelations that millions of accounts on authorized by customers we're open to meet sales targets at congressional hearings in twenty sixteen Stumpf apologized I am fully accountable FOR all unethical sales practices in our retail banking business but the apology was not enough to quell bipartisan outrage the sixty six year old executive has now agreed to a lifetime ban from the banking industry it sends a strong signal to executives at other banks Devesh Sharma researchers auditing and corporate governance at Kennesaw state university in Georgia it does go a step toward restoring our wells Fargo's reputation banking regulators announced charges against five other Wells Fargo executives including the former head of the community banking division who could also face a lifetime.

David Brancaccio China
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

02:00 min | 9 months ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"Hey sister she in. Have you decided whether to put your child in the piano. Lessons shoot shot. Josh Treat Viewers Family Sam says and get them good deals like when eva helps a Tau shot promote at twelve dollar Japanese mouthwash. Sam says he'll ask the owner for a discount. He leaves for a few minutes and returns disappointed. There's all the owner said. She'll offer our viewers three eighty dollars off on the first five bottles. Ill I've bottles. What can we do with that? She wants an inch in grabbing sale to push push people to buy so she can earn commissions. But it's hard for her. And Sam to negotiate big discounts. They only have sixteen hundred channels subscribers. Most come from small cities and are looking for entertainment. At one point Sam removes his talking points a barefoot the camera on a cliff. I used devil lot of dead skin falling off my foot after shower but look how smooth it is now. His cure an eight dollar Japanese horse oil guaranteed real system. Take any product that is not genuine. We will be responsible salmon. Eva Act as a safety net because a lot of Chinese consumers worry sorry about buying on towel too many counterfeits so much so tau is on the. US Trade Representative blacklist at the end of our broadcast broadcast. They sold only twenty items but SAM says once they get more viewers they can make at least four thousand dollars a month more than what they earned doing ad sales and teaching in Hangzhou China. I'm Jennifer pack for marketplace while we're talking streaming comcast is meeting with investors today to talk about. It's late to the game. Hulu style the thing it'll call peacock cheers parks and REC will no more after briefing in New York. I'm David Brancaccio with the marketplace morning report from A._P._M.. American public media..

Sam Eva Act David Brancaccio US Hulu New York Josh Hangzhou China Representative
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

02:00 min | 9 months ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"Hey sister she in. Have you decided whether to put your child in the piano. Lessons shoot shot. Josh Treat Viewers Family Sam says and get them good deals like when eva helps a Tau shot promote at twelve dollar Japanese mouthwash. Sam says he'll ask the owner for a discount. He leaves for a few minutes and returns disappointed. There's all the owner said. She'll offer our viewers three eighty dollars off on the first five bottles. Ill I've bottles. What can we do with that? She wants an inch in grabbing sale to push push people to buy so she can earn commissions. But it's hard for her. And Sam to negotiate big discounts. They only have sixteen hundred channels subscribers. Most come from small cities and are looking for entertainment. At one point Sam removes his talking points a barefoot the camera on a cliff. I used devil lot of dead skin falling off my foot after shower but look how smooth it is now. His cure an eight dollar Japanese horse oil guaranteed real system. Take any product that is not genuine. We will be responsible salmon. Eva Act as a safety net because a lot of Chinese consumers worry sorry about buying on towel too many counterfeits so much so tau is on the. US Trade Representative blacklist at the end of our broadcast broadcast. They sold only twenty items but SAM says once they get more viewers they can make at least four thousand dollars a month more than what they earned doing ad sales and teaching in Hangzhou China. I'm Jennifer pack for marketplace while we're talking streaming comcast is meeting with investors today to talk about. It's late to the game. Hulu style the thing it'll call peacock cheers parks and REC will no more after briefing in New York. I'm David Brancaccio with the marketplace morning report from A._P._M.. American public media..

Sam Eva Act David Brancaccio US Hulu New York Josh Hangzhou China Representative
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

02:00 min | 9 months ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"Hey sister she in. Have you decided whether to put your child in the piano. Lessons shoot shot. Josh Treat Viewers Family Sam says and get them good deals like when eva helps a Tau shot promote at twelve dollar Japanese mouthwash. Sam says he'll ask the owner for a discount. He leaves for a few minutes and returns disappointed. There's all the owner said. She'll offer our viewers three eighty dollars off on the first five bottles. Ill I've bottles. What can we do with that? She wants an inch in grabbing sale to push push people to buy so she can earn commissions. But it's hard for her. And Sam to negotiate big discounts. They only have sixteen hundred channels subscribers. Most come from small cities and are looking for entertainment. At one point Sam removes his talking points a barefoot the camera on a cliff. I used devil lot of dead skin falling off my foot after shower but look how smooth it is now. His cure an eight dollar Japanese horse oil guaranteed real system. Take any product that is not genuine. We will be responsible salmon. Eva Act as a safety net because a lot of Chinese consumers worry sorry about buying on towel too many counterfeits so much so tau is on the. US Trade Representative blacklist at the end of our broadcast broadcast. They sold only twenty items but SAM says once they get more viewers they can make at least four thousand dollars a month more than what they earned doing ad sales and teaching in Hangzhou China. I'm Jennifer pack for marketplace while we're talking streaming comcast is meeting with investors today to talk about. It's late to the game. Hulu style the thing it'll call peacock cheers parks and REC will no more after briefing in New York. I'm David Brancaccio with the marketplace morning report from A._P._M.. American public media..

Sam Eva Act David Brancaccio US Hulu New York Josh Hangzhou China Representative
"david brancaccio" Discussed on KQED Radio

KQED Radio

03:22 min | 9 months ago

"david brancaccio" Discussed on KQED Radio

"Com I'm David Brancaccio in New York jury selection is set to begin today in New York for the trial of movie mogul Harvey Weinstein he was also charged yesterday in Los Angeles with rape and other sexual assault he's maintained his activities were consensual it's been a little more than two years since the Weinstein case was one catalyst for the me too movement this is for more than a dozen states to adopt new laws on harassment and abuse from the marketplace workplace culture desk Meghan McCarty Carino has more ten states have expanded requirements for harassment training and prevention and four have extended the amount of time employees have to file harassment claims making for a busy two years for employment law attorney Nisha Vermont with Dorsey and Whitney it's a lot for employers to grapple with compliance can be tricky particularly for multi state employers that are dealing with different kinds of laws in different states Andrea Johnson with the national women's law center says the most common change adopted in thirteen states has been to limit the use of non disclosure agreements these legal tools are being used by many employers to silence victims we recognize very quickly how many holes there are in our legal protections that are really making it easier for harassers to continue harassing some of the new state laws face legal challenges but the majority of states have not adopted any new protection since the me too movement began hi Megan McCarty Carino for market place ahead of this year's presidential election Facebook is facing pressure to do more to combat fake content on its platform now it's promised to take down video is identified as so called deep fakes market place's Nova suffer joins me now live with more on this new policy number I want to better understand what is a deep fake video what exactly is Facebook banning yeah so these are videos that use artificial intelligence and machine learning tools to basically alter reality making people appear to say things they never actually set so Barack Obama using next an obscenity for example or Richard Nixon doing a comedy routine Facebook says the test is if the average viewer can't take a video can't tell a video is fake it'll take account so another type of deep faith by the way is and this is a call from Facebook material that merges with places or superimposes content onto a video making it appear to be authentic so they'll take that stuff down to now despite pressure Facebook has been hesitance when it comes to regulating its content change of direction here well it's a step in a different in a direction that they've been pressured to take because they're defining deep fake videos quite narrowly here so videos that use simpler manipulation techniques aren't affected by this band for example there was a Nancy Pelosi video that went viral where her words were slow down a little bit meter sound like she was drunk at least that's what people are claiming well that was a simple manipulation and Facebook says that can be fact check and fact checked and pulls he was actually saying what you said so those kinds videos are going to be bound all right market place's Nova soft thank you very much and since two thousand seven tumblr has let people post generally short articles microblogging using text and multimedia in this presidential election year tumblers now come up with an internet literacy campaign six videos that help people learn to spot.

David Brancaccio New York
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

03:53 min | 10 months ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"Okay here's here's a solid investment support marketplace today and your donation goes three times as far right now your donation makes triple the impact triple ripple thanks to a special two for one match by the Kendedafund that is three times the support for the Public Service Journalism that you trust to keep you informed every day Eh. The match only goes through this Sunday. So don't miss out give today at Marketplace Dot Org and thank you. An overarching story and retail is Amazon Ebay and Walmart crushing the little shops on the street. The online retailers have superpowers but they also have a vulnerability customer Mr Mer relationships with them are typically transactional and the interactions are especially memorable some bricks and mortar. Stores have responded by making shopping and experience. What's the difference between going to say? A hipster restaurant versus a fast food drive through a smaller retailers may be especially well positioned to curate these experiences. Listen to the founder of an enterprise called Bash party goods based in Chicago. Everyone's trying to recreate that holiday of their childhood but online shopping wasn't a part of childhood holiday experience. I'm Angela water. I owned Bash Party goods. Which is a party supply apply and stationary brand? I started out as an online retailer. In two thousand fifteen and opened a brick and mortar in Chicago called festive collective in two thousand sixteen. My background was in corporate retail. And so I noticed a hole in the market. I throw a lot of parties and I couldn't find party supplies that reflected my own aesthetic and other friends my age I started out selling paper plates. Napkins peoper Garland's just the basics that you would need to throw a birthday party and I know a entire section in the warehouse. That's just dedicated to tubes of miniature disco go vols every year to get the shop ready for holiday. We closed for four days. We Strip everything out of the store. We we cover the windows and so when we take the paper down the last day. There's this big reveal to the neighborhood tons of Santa's and vibrant kitschy reindeer and year in Neon dribbles. We really try to create a sense of nostalgia. I feel like that's what drives most holiday purchasing and and particularly for our customers. That's something that they're they're not getting in the online shopping experience and so we tend to have a lot of repeat customers range throughout the holidays. Who will come in once and then come in again with their children and then come in with their aunts and uncles and everybody? WHO's in town? I love watching people move throughout the space and spend more time choosing like deliberate products for gifts or even for themselves. I just knowing that they're making more meaningful purchases rather than buying anything. That's on sale at a big box store because we're small and we're not allowed award retailer. I can create a design and in some cases I can have it in customers hands by the end of the week. I henryk. Little Wooden Christmas houses have little Pastel and neon accents and covered in snow. And I usually put like a dinosaur are in the front lawn or something unexpected. The Voice of Entrepreneur Angela. Water of festive collective walking. Here Midtown Manhattan. You're reminded that retailers doing doing experiences isn't new. The holiday windows long thirty four. Three side of macy's been doing that since eighteen ninety four. I'm David Brancaccio marketplace morning report from A._P._M.. American public media..

Chicago Marketplace Dot Org Bash Party David Brancaccio Mr Mer Amazon Ebay macy Manhattan Walmart Santa
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

02:07 min | 1 year ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"You can't vote. I'm David Brancaccio in New York about seven hours from now. The Federal Reserve is set to snap a news bulletin that it's cutting interest rates by one quarter of one percent that would be the first time I'm since we emerged from the great recession that interest rates fall a Smidgen of stimulus like this would be an odd tactic given where we are with low inflation and near full employment. Some of this is the Fed try to counteract slower business investment given the uncertainties of the Trade War U._S.. Consumers for their part are still out there. Consuming not a story about revealing who is behind some big money in politics federal judge in Montana has struck down an I._R._S.. Rule on political donations the rule had said at certain nonprofit groups no longer had to report their donors to the tax people marketplace's Nancy Marshall Genzer in Washington is on the line with more on this rule well David it applied to organizations known as social welfare groups. These are nonprofits that can get involved in politics as long as they don't spend more than half their our budgets on it so this would include the political arms of the N._R._A. A._A._R._p.. They said when they reported their donors names. The names leaked out even though they're not supposed to be public opponents of the rule said if these groups didn't have to report their donors there could be more foreign influence over U._S.. Elections and why did this judge overturn the rule what he said the I._R._S. didn't allow enough time for for public comment on the new rule. The I._R._S. said it didn't need a full comment period because it was just a small change little on the so what happens now well for now. These nonprofits will have to continue reporting their donors to the I._R._S.. The lawsuit was brought by Montana Governor. Steve Bullock who also happens to be running for president <hes> Montana said that it relies on voter information from the I._R._S.. To decide on exemptions from state taxes and because of the ruling Montana <hes> and other states are going to have access to it all right Nancy thank you let's do the numbers footsie in London.

Montana David Brancaccio Federal Reserve Nancy Marshall Genzer Steve Bullock New York I._R._S. Washington president London one percent one quarter seven hours
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

06:51 min | 1 year ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"I'm David Brancaccio in New York. I with a cut in interest rates considered a foregone conclusion later this month. How come I keep seeing interest rates in the bond market rising going into the fourth of July? The ten year bond yield was down at one point nine six percent this morning. It's up again at two point one four percent that is a shift on Fridays. We consult Christopher Lowe the chief economist at F. T. The end financial in New York. I mean Chris Fed. Chairman Paul was signaling like mad on Capitol Hill this week that short-term rates are going lower very soon but at the longer end if you look at ten year treasuries for example which is what mortgage rates are priced off. Of those yields have increased and they've increased by <hes> point one five percent which is actually a pretty significant rise in a week's time. Basically traders are betting that okay okay if the feds not leaning quite as hard against inflation then logically inflation's GonNa rise <hes> anything with a five year duration like most car loans or fifteen in thirty years like most mortgage Sloan's those were probably going to be a little more expensive. It's also a reminder that <hes> the Fed doesn't have a control room that is manipulating the economy. There's only so much the Fed can do you know that's a reminder. That's not only good for all of us to remember but probably not a bad thing for the Fed to remember to crisslow at S._D._N.. Financial in New York the chief economist thank you so much. Thank you David One of the big topics when Federal Reserve Chair Jerome Wrong Powell testified in Washington yesterday libra that's facebook's planned cryptocurrency the social media giant hopes that will serve that will serve as a backbone for easy money transfers payments Powell said he has serious concerns. Earns marketplace's Justin hose following. I A libra recap. It's a crypto currency like bitcoin but facebook says its value will be stable in the ideas that libra would be backed by real assets like government bonds and facebook's partnering up with a number of other big companies to launch libra in the plan facebook says is to launch libra next year in twenty twenty but yesterday Jay Pal said the Fed I needs to do a careful and patient assessment of the risks. Libra poses to the economy and and I think that's GonNa take a little bit of time and the idea that this would be going into implementation within twelve months. I think is is not going to be proven right. Pal said those risks include privacy money laundering consumer protection financial stability really. It's not just chairman Powell that wants to weigh in on this topic yeah. We don't know all the details about lieber yet but regulators around the world are skeptical. The president criticised libra last night saying the dollar will always be a more reliable global currency but palisade part of the issue is that oversight falls into a lot of pockets state federal International Sheila Bair who was the head of the F._d._i._C. During the financial crisis wrote an op Ed this week suggesting Congress cut through all that overlap and give the Fed the lead authority. Authority over libra because of the Fed's role in regulating banks and payments a senator asked pal about this yesterday and Pal said.

Chris Fed libra facebook Jay Pal Jerome Wrong Powell New York chief economist David Brancaccio chairman Sheila Bair Christopher Lowe lieber Federal Reserve Justin hose David One
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

04:05 min | 1 year ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"I'm David Brancaccio. Iran says it shot down a US military surveillance drone along the strait of Hormuz the US's confirmed drone was shot down, but says it was not in Iranian airspace at the time. The price of crude oil in New York is up four point four percent, fifty six dollars a barrel, US Iran tensions of risen after the US pulled out of the Iran, nuclear deal and clamp down on economic sanctions, including a prohibition on Iranian oil, Iran works to evade those sanctions with varying degrees of success. There's a report today that an Italian oil company, turn back, what was supposed to be Iraqi oil amid evidence. The cargo was instead, Iranian Wall Street Journal senior reporter, Ben wa Foco co wrote the peace. Thanks for joining us. So give me a sense. What was the tip off for the Italian oil company? Any that something was weird or off with this oil when or vessel arise for nobody would happen? These it gets inspected and the something's taken any that eating too much. So something was wrong. He was in the kind of quality of product that he should have been and officially that's the reason why defended back. So they actually did send it back. They said, we're not going to accept this. Exactly. They doesn't Crispin to the sort of the features that the bathroom all should have had. What do you think what does this case show? There are effective systems in place for enforcing the sanctions, or is this a rare instance of Iranian oil getting stopped. Oh, I think it's income of crude, the, the type of mechanisms to check, especially in, in Europe. And the US I extremely comprehensive this said they are very suffice. Ticketed techniques with multiple transshipments with fake the communications, I met some of the traders who do that in Tehran. When I was there last month and it's obvious that this case where he's going to work, but it tends to be more efficient for all products resins than crude. Oh, in other words, so derivatives of crude oil, processed oil might be a little bit easier. Exactly. Typically, fewer guys or always tends to be I've a blend eat or have less characteristics that makes it harder to track Wall Street Journal, reporter, Ben wa fo- com wrote the peace with his colleague, Sarah McFarland. Thank you so much. You're welcome. Gasoil or diesel numbers the footsie index.

Iran US Iranian Wall Street Journal reporter David Brancaccio Wall Street Journal New York Tehran Europe Sarah McFarland Crispin fifty six dollars four percent
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

01:30 min | 1 year ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"The sales price the town sell for anywhere between one hundred thousand to five million dollars. Fath- Yan started her business twelve years ago. She says she's been selling ten a year mostly to foreigners doesn't defend Gilliam, which attracted to these types of properties being sold in Spain for prices that would be unthinkable in their home countries. Some of the towns were subsequently renovated for rural tourism, others. Use private estates but Odio and some data from the regional Catalan. Government says the challenge is creating diverse economies in towns at risk of dying. Blow panicky town for people to live in, but you don't have access to healthcare services and grocery stores, it gets complicated. He says selling villages isn't going to bring back, these communities, embarrassed Lana. I'm Lucia this for marketplace, and four billion and four billion to a here, four billion in one sold for four billion dollars, the art auction house. Otherwise whole thing has just been sold to Patrick dry, a French, and Israeli media tycoon, for indeed four billion dollars, draw he also collects art. This will be handy. Patrick dry not to be confused with Mario Draghi, who is the head of the European Central Bank in New York. I'm David Brancaccio with the marketplace morning report. From APM American public media..

Patrick dry Gilliam Fath- Yan David Brancaccio Odio Mario Draghi Spain European Central Bank Lana New York four billion dollars five million dollars twelve years
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

03:32 min | 1 year ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"The robocalls, I'm David Brancaccio in New York, I car companies have issued a plea for a single national standard for fuel efficiency GM Ford until iota are among the seventeen automakers that sent a letter to President Trump and California governor Gavin Newsom yesterday asking for the two sides to agree on how much cars can pollute in the future. Marketplace's Ben Bradford says carmakers one will void a prolonged court fight over emissions. President Trump is seeking to rollback Obama era fuel efficiency standards, while California is sticking with them. The state has unique authority written into the Clean Air Act to set its own air quality rules. The Trump administration wants to strip that thority setting up a legal battle that could put the rules in limbo and possibly split the car buying market carmakers agreed to the stricter rules in two thousand nine but now want looser one says SUV's and trucks continue to be top sellers. But in the letter to Trump, the carmakers say, illegal. Battle would be just as bad as the stricter rules. They're calling for the two sides to compromise and split the difference. I'm then Bradford for marketplace. The Federal Communications Commission has approved new rules, taking aim at robo calls automated versions of those annoying calls, you get from spammers trying to sell you something, or perhaps, get personal information. The rules approved yesterday or designed to make it easier for cell phone companies to automatically block the calls. Marketplace's Nancy Marshall genzer joins me from Washington Nancy, how would this work. The FCC says it would be similar to the way spam is blocked in your Email. Cellphone companies can automatically analyse incoming calls to decide which ones should be blocked and there are telltale signs of robo calls, for example, sending out a bunch of short calls all at once what would change. Well, some carriers already have called blocking programs to cut down on call spam. But right now you have to opt. Into those programs. This rule would allow so phone companies to automatically enroll their customers, but he wouldn't require them to do. So the FCC is still debating a rule that protects carriers from lawsuits, if they blocked the wrong calls like a legitimate call from say your doctor's office and consumers could tell their carriers not to block robocalls. You could opt out of this, if you wanted to know spam Email filters, don't cost us anything. What about these call filters? That's the catch David, the FCC is encouraging carriers to offer. Call blocking for free. The FCC chair says, cellphone companies could save money by blocking robocalls that clog up their networks, but the companies can charge if they want. There are some companies like Reisen which do offer this blocking for free. If you sign up for it, but others, like sprint charge extra. All right. And the FCC doesn't have the last word on this, the house and Senate or working on legislation. Nancy, thank you. Much in just over an hour and a half. It's the government's big unemployment report and tally of payrolls, covering may a private sector count. The came out on Wednesday was strangely week, but that doesn't always line up with the government data, forecasters are expecting a hundred and eighty five thousand more people on payrolls in line with the trend will see. Let's check markets, the footsie in.

Federal Communications Commiss President Trump Nancy Marshall genzer Ben Bradford David Brancaccio FCC California Gavin Newsom Obama GM Ford New York Reisen Washington sprint Senate
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

01:58 min | 1 year ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"The biggest car market in the world is slowing down from marketplace. In New York, I'm David Brancaccio for nearly three decades new car sales in China have gone up and up as part of one of history's great social transformations the growth of China's middle class, but there's news today that auto sales in China fell last year, that's long been the world's biggest car market, Scott Tong reports automakers sold twenty two million new vehicles in China last year. That's a six percent drop. According to the China passenger car association today. It's ended the US trade war and a week stock market has also softness in retail and factory orders in China as far as drivers and show rooms trae macarbre at the consultancy trivia, China says China has hit peak car you've had very fast growth for for over twenty years. But now at this point a lot of the Chinese citizens who want automobiles have automobiles he says auto sales there when they'll be more incremental. Encyclical like other mature economies China? He says has moved on from generation of turbo-charged growth. Miss GDP grew nine percent decade ago. But this year, many are predicting six or so General Motors has long been a top seller in China, but will the trade war lead to nationalist boycotts of GM brands like Buick and Cadillac. We haven't seen at least in the auto space any sort of nationalist backlash against US goods. But we have seen this already in the tech space as in calls for Chinese groups and consumers to avoid apple phones in favor of domestic brands like wow away last year. GM sales in China went into reverse by ten percent. Marketplace's got tongue. Thank you car companies running into trouble in China smartphone companies also seeing their profits hit as growth in China slows impart due to the trade war. Why would this persuade market participants to buy stock today? Susan Schmidt has a fury. She's head of US equities at Aviva investors..

China Scott Tong US David Brancaccio New York Susan Schmidt GM trae macarbre Aviva apple General Motors Buick Cadillac three decades nine percent twenty years six percent
"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

01:44 min | 2 years ago

"david brancaccio" Discussed on Marketplace Morning Report with David Brancaccio

"If you are a business in the US, your costs probably jumped last month in New York, I'm Sabrina short in for David Brancaccio. The producer price index. It's a measure of inflation for businesses. And producers it rose last month. A lot point six percent. That's the largest month-to-month increase since twenty twelve. Now big driver of this jump back in October was a spike in energy costs oil prices, and those have gone down this month. Christopher Lowe is chief economist at F T N financial and helps us out with these sorts of things could morning, Chris. Good morning. Saberi point six percent. It's the largest monthly jump since may of twenty twelve. So is this a sign that the inflation that everyone has been either worrying about or wondering about or looking for and not finding is it finally here. Absolutely. If you have a point six jump in producer prices in a month. That is inflation. It's real good news on that front is. Just yesterday oil with a drop of twenty percent from its peak entered a bear market. And that means that the the same places where we saw price pressure in October. We're going to see price declines in November and December. How should we think about this? I mean is this going to be bad for consumers more is to come out of their pockets, well, not necessarily and these are producer prices. So this is what businesses are paying for raw materials for parts and typically producer price index is a lot more volatile retailers tend to smooth out those increases so unless we see sustained producer price pressure. It will not be passed on to consumers. Christopher.

producer Christopher Lowe David Brancaccio US New York chief economist Chris F T N six percent twenty percent