Economy & Business

Business news

02/16/17: Russia's tech world

Feb 15, 2017

We're looking at why chipmaker Intel is dropping its financial support for the International Science and Engineering Fair; the use of tech in Russia over the years; and a new website that allows people to anonymously reach out to reporters about Trump.

Boeing Employees Vote Against Unionizing In South Carolina

Feb 15, 2017

Updated 10 p.m. ET

The International Association of Machinists says workers at Boeing's South Carolina plant have voted not to unionize.

In a video on the union's Facebook page, lead organizer Mike Evans says the workers have decided "at this time they don't need representation," and he says the IAM respects the process. He tells workers that the company should "pay attention to your issues and make Boeing a better place, not just for a few, but for everybody."

Two of the most influential groups in the food industry are asking companies to change those pesky "expiration" or "sell by" labels on packaged food.

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Across the U.S., protesters are calling for a "Day Without Immigrants" on Thursday. It's a boycott calling for immigrants not to go to work, in response to President Trump's immigration policies and his plan to build a border wall between the U.S. and Mexico.

President Trump has promised to repeal and replace the Affordable Care Act without taking insurance away from the millions of people who gained coverage under the law.

On Wednesday his Department of Health and Human Services made its first substantive proposals to change the marketplaces for individual coverage, commonly known as Obamacare.

Updated at 4:15 p.m. ET

Fast-food executive Andrew Puzder withdrew his nomination to head the Labor Department on Wednesday as his support on Capitol Hill faltered. Facing criticism from both sides of the aisle, Puzder became the first Trump Cabinet pick whose nomination failed.

Puzder put out a statement on Wednesday:

New York town struggles after aluminum jobs leave

Feb 15, 2017
Mitchell Hartman

For nearly a century, the aluminum industry provided some of the best-paid manufacturing jobs in rural America.

The industry boomed from the early 1900s through the post-WWII years, as the new lightweight metal was used for ships and airplanes, home appliances and food packaging. Sprawling smelting and rolling operations, which use a massive amount of electricity, were built along major U.S. rivers with hydroelectric resources, such as the Columbia and St. Lawrence.

The Export-Import Bank gets a presidential lifeline

Feb 15, 2017

President Donald Trump is scheduled to pay a visit to a Boeing factory in South Carolina this Friday. Boeing, it just so happens, is a big fan of something called the Export-Import Bank. It's a trade-promoting agency that some Republicans have worked very hard to kill.  In fact, some senators have kept the bank only partially functional for the past year by refusing to approve people to run it. Trump is said to have a new soft spot for the agency, and he is expected to throw his support behind the Ex-Im Bank on Friday. Here's why.

Americans throw out 40 percent of the food they buy. One estimate puts the monetary value at $29 billion a year, not to mention the carbon footprint. One reason? Food going past confusing “use by” labels. Now food industry groups are recommending new guidelines which clarify if a food is unsafe to eat, or just past peak quality.

It's nighttime in a forest in the western Indian state of Gujarat. By the light of his cell phone, camel herder Jat Saleh Amir, 18, pumps milk from the teats of groaning camels. The milk smells strong, like gamey butter.­­­

Andrew Puzder withdraws his labor secretary nomination

Feb 15, 2017

Andrew Puzder says he is withdrawing as President Donald Trump's nominee for labor secretary.

The fast food executive says in a statement provided to The Associated Press that he was "honored to have been considered by President Donald Trump to lead the Department of Labor and put America's workers and businesses back on a path to sustainable prosperity."

Puzder says "while I won't be serving in the administration, I fully support the President and his highly qualified team."

IRS rule change could weaken Obamacare mandate

Feb 15, 2017
Kai Ryssdal and D Gorenstein

It's no secret that Republican lawmakers in Congress want to bring an end to the Affordable Care Act. House Speaker Paul Ryan continues to be very vocal about wanting to repeal and replace Obamacare. But it's the Internal Revenue Service under the Trump administration that may be dealing the first blow to the ACA. It is making that "Did you have health care for all of 2016" question on tax returns obsolete. Marketplace host Kai Ryssdal spoke with Dan Gorenstein, Marketplace's health care correspondent, to get the details. Below is an edited transcript of their conversation.

Sallie Krawcheck says gender diversity on Wall Street has stalled

Feb 15, 2017
Kai Ryssdal and Bridget Bodnar

Sallie Krawcheck generated headlines shortly after the financial crisis hit because she asked her boss at Citigroup to pay some of their customers back the money they had lost. It didn't go well and she was fired. After that, she ran Merrill Lynch for Bank of America, making her one of the highest-ranking women on Wall Street. But then the CEO who hired her retired and she was let go soon after. At the time, she didn't think her dismissal had anything to do with her gender.