Big banks post big earnings, but lending is more muted
It’s a big week for bank earnings. JPMorgan, Wells Fargo, and Citigroup reported quarterly results on Tuesday; Bank of America and Morgan Stanley report on Wednesday. Overall, banks are pulling in plenty of revenue — especially from their investment banking and trading departments. But the old-fashioned business of lending out money has been more of a mixed bag. We'll unpack. Also on the show: a major cryptocurrency scam and the economics of Broadway contract negotiations.
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Food tour of the future
Climate change is changing what we eat. As the planet heats up, foods like salmon, chocolate and coffee might be harder to come by and more expensive to buy. In this episode, the “How We Survive” team goes on a food tour around Northern California to find out how tech entrepreneurs are finding new ways to make all sorts of foods that are under threat from the impacts of the climate crisis.
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A conversation with Nobel laureate Joel Mokyr
Joel Mokyr is a professor at Northwestern University, who — along with Philippe Aghion and Peter Howitt — won the Nobel prize in economics earlier this week. Today, Mokyr joins the program to discuss how major technological changes can boost economic growth — that is, if politics and institutions can adapt quickly enough. Plus, why the bankruptcies of First Brands and Tricolor Holdings are raising questions about private credit markets and big banks’ exposure to them.
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Greece decides on a 13-hour working day
From the BBC World Service: Greece's government is voting on a bill authorizing private sector employees to work up to 13 hours a day, if both employee and employer agree. Labor unions have called mass strikes in protest, paralyzing the public sector. This comes as Greece faces high debt, rising inflation, and lower wages than much of the European Union. Plus, Japan is holding its biggest-ever technology trade show, centered on integrating AI into our daily lives.
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FCC cuts expansion to broadband, hotspot access
Before the government shutdown, the Federal Communications Commission voted to end funding for Wi-Fi on school buses and the lending of hotspot devices from libraries. Nicol Turner Lee, author of “Digitally Invisible,” said this could further the digital divide for marginalized communities.
Marketplace® is the leading business news program in the nation. We bring you clear explorations of how economic news affects you, through stories, conversations, newsworthy numbers and more. The Marketplace All-in-One podcast provides each episode of the public radio broadcast programs Marketplace, Marketplace Morning Report®and Marketplace Tech® along with our podcasts Make Me Smart, Corner Office and The Uncertain Hour. Visit marketplace.org for more. From American Public Media.
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