Economy & Business

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A few weeks ago, I went back to the federal prison in Seagoville, Texas, for another conversation with Edgar Diaz.

Scruffles / Flickr

Income inequality is on the rise, both nationally and locally. While Wisconsin’s income gap is lower than the national average,  recent changes in tax laws may only deepen the growing divide.

Philipp Lücke / Flickr

Not all that long ago - at least in automotive history - luxury cars were promoted in a lot of ways. There was the rich, Corinthian leather. The comfortable passenger space and the huge trunk. And of course, there was the soft - sometimes practically squishy ride.

That's not the way Cadillac, Lincoln, or really any luxury manufacturers advertise their cars any more. It's all about speed and performance, and maybe passenger space, too. But it's a trend that caught the eye of  Lake Effect automotive contributor, Mark Savage.

Sick of getting your view blocked at live shows by people holding up their phones? Apple was granted a patent yesterday for technology that can disable those cameras — at least in specific places.

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Tony Wagner

America's biggest banks are cleared for billions in stock buybacks after most of them passed the second round of Fed stress tests this week.

In all, 31 of 33 passed — Deutsche Bank and Banco Santander were the only failures — including all eight systematically important banks. That means more dividends and buybacks are on the way.

Amid all the macro-level questions about the effects of Britain's decision to leave the European Union — its broad economic and political repercussions — the Brexit will be felt in small, practical, everyday terms as well. Although it's impossible to predict exactly how things will play out, here are a few of the possible ways Britons may experience repercussions of the Brexit:

Mobile phone usage

On today's show, we'll talk about stress test success for 31 of America's biggest banks. Plus, we'll take a look at whether the construction of the Panama Canal will improve or worsen wealth inequality in the country. 

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31 of 33 big U.S. banks pass stress tests

16 hours ago
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Mitchell Hartman

The Federal Reserve released the final results of its annual bank stress tests on Wednesday. Thirty-one of the 33 big banks that operate in the U.S. and are subject to stress testing passed. That includes all eight of the country’s biggest banks deemed “systemically important” to the financial system: Wells Fargo, State Street, JPMorgan Chase, Bank of America, Goldman Sachs, Citigroup, Bank of New York Mellon and Morgan Stanley.

The canal has made Panama rich, but inequality persists

18 hours ago
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David Brancaccio, Justin Ho and Katie Long

Panama is in the news this week for the opening for its new, expanded canal. It's a GDP success story — the country has grown twice as fast as other countries in the region in the last 15 years. Thank the canal, thank its Singapore-style hub for financial services and thank its Dubai-style duty-free zone. But it’s still a country with grinding poverty and uncomfortable contrasts.

 

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Andy Uhler

On Wednesday, legislation to help Puerto Rico restructure its more than $70 billion of debt finally passed through the Senate.

President Barack Obama is expected to sign the bill by the end of the week, which is when the island was set to default on $2 billion worth of payments to bondholders. 

The bill passed with bipartisan support, but not everybody is happy. A major issue is the establishment of a federal board to oversee Puerto Rico’s finances.

Some, like Puerto Rican Sen. Ramon Luis Nieves, say the board won’t bring any money to the island.

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Kim Adams

This week, we’re rolling out the latest round of results from the Marketplace-Edison Research Poll, and one of the ways we measured how people feel about the economy is through what we call the “Economic Anxiety Index." It looks at how stressed people are about their financial situations, and it’s gone up since we first started tracking the information last fall.

This is especially true for young people like Kyle Ojima in Washington, D.C.

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Marketplace

On today's show, we'll talk about the news that Puerto Rico has been able to avoid its debt default; the disconnect between an improving economy and the way individuals are feeling about their personal finances; and AMC's $1.1 billion offer to Carmike Cinemas. 

Marketplace Tech for Thursday, June 30, 2016

18 hours ago
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Marketplace

On today's show, we'll talk about Microsoft's latest operating system, Windows 10; the battle between Yahoo's leadership and investors about the company's future; and the benefits of...asteroids. 

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