Economy & Business

Business news

Inside Mongolia's largest open-air market in the capital city of Ulaanbaatar, it doesn't feel like the economy is on the brink of collapse. Alleyways are packed with people selling carpets, fabric, clothes and nearly anything else you could think of.

But vendors here have had a front-row seat to an economy that has quickly gone from the world's fastest growing to one of the slowest. Everyone here seems to have a riches-to-rags story.

Chart of the day: Consumer spending is up

Dec 5, 2016

Average daily spending ticked up slightly last month, according to Gallup. Throughout the month, surveyors asked Americans how much they spent yesterday, excluding bills and major purchases. 

Italian Prime Minister Matteo Renzi resigns

Dec 5, 2016
Kai Ryssdal

The Italian Prime Minister Matteo Renzi resigned today after losing a referendum on government control of the country’s economy yesterday. About 60 percent of Italians voted against a plan for constitutional reform favored by Renzi.

After one of the founders of Corona beer died last summer at age 98, some news went viral: In his will, he'd apparently left his fortune to the tiny, hardscrabble village in northern Spain where he was born. Each resident — mostly retired farmers and miners of meager means — would receive more than $2 million.

Carrier to raise commercial prices

Dec 5, 2016
Kai Ryssdal

Even though President-elect Donald Trump pushed Carrier to prevent 1,000 jobs from being exported from their plant in Indianapolis, it's likely that their parent company, United Technologies, may still move jobs to Mexico.

Why clothing sizes are all over the map

Dec 5, 2016
Mitchell Hartman

Listener Caren Johannes of Westminster, Colorado, emailed this question to Marketplace: “I’ve always wondered how clothing manufacturers figure out what sizes of clothes to make. I’m very short and I have a terrible time finding clothes, as do many of my relatives and friends.”

President has some broad powers when it comes to trade

Dec 5, 2016
Sabri Ben-Achour

President-elect Donald Trump has made many promises about what he'll do once he's president when it comes to trade.  He's doubled down on some of them — for example over the weekend he tweeted that companies that move production out of the U.S. could face a 35 percent tax on the things they want to sell here. But what can a president actually do?

For example, Trump has talked about renegotiating The North American Free Trade Agreement (NAFTA). Could he do that without Congress?

The Valley's Problem with Empathy

Dec 5, 2016
Kai Ryssdal and Adhiti Bandlamudi

The tech giants of Silicon Valley constantly look for the next move that changes the way we live. And while these advancements are groundbreaking, it can shift a system that already existed, affecting the jobs and livelihoods of people embedded in that system. In a world of algorithms and technological processes, the customer at the end of that process is sometimes reduced to a number or statistic. 

Annie Baxter

The controversial Dakota Access pipeline has been halted for now. The Army Corps of Engineers denied a permit for the oil pipeline to pursue a route near the Standing Rock Sioux Reservation, amid protests from the tribe, which was worried about potential water pollution. But other groups, such as opponents to fossil fuel, hoped to thwart the project as part of a bigger strategy. They're trying to delay new pipelines and other fossil-fuel infrastructure projects until renewable energy sources can be competitive.

What it means to be a futurist

Dec 5, 2016
Kai Ryssdal and Bridget Bodnar

Given the pace of change in the tech industry, sometimes it’s hard for companies to know just which trends to chase. One person they might turn to for answers is Amy Webb, a futurist.

Trying to understand the Trump Organization is a daunting task. President-elect Donald Trump has not released tax documents, so the best clues about his privately held business interests come from a financial disclosure form he released in May.

The document covers scores of pages with small type, and suggests he is financially involved with hundreds of companies, including some that simply license his name.

Marketplace for Monday, December 5, 2016

Dec 5, 2016
Annie Baxter

On today's show: President-elect Trump has talked a lot about changing trade deals and tariffs, we take a look at how much a president can actually change U.S. trade policy with just the stroke of a pen.  Also, why blocking the Dakota Access pipeline is likely to remain a victory for its opponents only until the Trump administration takes office. Lastly, have you ever wondered how apparel companies decide sizes for clothing? We have answers. 

President-elect Donald Trump has chosen Dr. Ben Carson to lead the Department of Housing and Urban Development in his incoming administration.

"Ben Carson has a brilliant mind and is passionate about strengthening communities and families within those communities," Trump said in a statement released Monday. "We have talked at length about my urban renewal agenda and our message of economic revival, very much including our inner cities."

ExxonMobil CEO could be next Secretary of State

Dec 5, 2016

On today's show, we'll talk about the effects of Sunday's Italian referendum on the markets; claims that China manipulates its currency; reports that ExxonMobil's CEO, Rex Tillerson, is being considered for Secretary of State; and the Bay Area's shortage of affordable housing.

Trump's 35% tax

Dec 5, 2016
Kai Ryssdal and Andrea Seabrook

Over the weekend, Trump called for a 35 percent tax on products sold by any U.S. business that moves jobs out of the country. Kai and Andrea discuss Trump's proposal and what it would take for him to get it done. Got questions about politics and your economy? Tweet them to us @Marketplace, @KaiRyssdal, and @RadioBabe.