Economy & Business

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U.S.-China trade tensions lead to volatile markets

Jun 19, 2018

(Markets Edition) The back and forth between the U.S. and China over trade continues. Trump says he might slap tariffs on an additional $200 billion worth of Chinese imports, which has prompted China to issue its own threats. We'll look at how trade tensions are affecting the markets and whether traders are starting to panic.

This morning, a Senate committee checks in to see how the cuts to the so-called 340b program, which allows hospitals to buy drugs at a discount, are impacting hospitals and patients. Critics say there’s little evidence that hospitals used the savings to help patients.

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Updated at 4:31 p.m. ET

The U.S. stock market fell sharply Tuesday in response to President Trump's recent threats to add another layer of tariffs on $200 billion worth of Chinese goods.

The Dow Jones industrial average closed down 287 points, or about 1.15 percent, marking its sixth straight daily drop. The broader S&P 500 index lost 11 points, or about 0.4 percent.

Entrepreneur Paul Schueller Believes in 'Learning, Not Lamenting'

Jun 19, 2018

Paul Schueller was interested in energy and environmental issues as a young boy in Port Washington and was lucky enough to get into that area as a pipeline construction engineer at Wisconsin Electric. He left the utility to form his own consulting firm, then in 1994 founded Franklin Energy, a Port Washington company that operates energy-saving programs for customers of utilities. Franklin does everything from running rebate programs for purchases of energy-saving light bulbs to performing energy audits for large corporations.

I visited a detention center called Casa Padre in Brownsville, Texas that used to be a Walmart. It’s run by a nonprofit, Southwest Key, and it’s currently housing about 1,500 children who were detained at the Texas/Mexico border. Some of those children were separated from their parents when border protection officials captured them.

A study of public housing facilities in New York City found that those managed by private developers had higher tenant satisfaction compared to others managed by the public housing authority. But it also found that tenant turnover is higher in the privately managed buildings.

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Why trade uncertainty may not be a big factor in Mexico's general election

Jun 19, 2018

Mexico will hold its general election next month. On the line are hundreds of positions in the country's Congress as well as the presidency.

While the Trump administration's tariffs are "not really an electoral deal as such," economic change is on the minds of people, according to former Mexico Secretary of Foreign Affairs Jorge Castañeda. 

China calls Trump's new tariff threats "blackmail"

Jun 19, 2018

(U.S. Edition) If China decides to fight back against the Trump administration's $50 billion tariffs, the president is threatening to up that to another $200 billion in goods. We'll look at the countermeasures China might put in place, and what this conflict means for U.S. businesses that operate there.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

STEVE INSKEEP, HOST:

(Global Edition) From the BBC World Service … There are more tariff threats against China from the White House, so are we in a trade war yet? And what needs to happen to de-escalate the growing tensions between the two nations? Then, shares of the Hong Kong–listed Chinese telecom ZTE plunged more than 20 percent to a two-year low. It wasn’t President Trump, but the U.S. Congress that sparked fresh concerns. Afterwards, growing alongside the rise of online sales is the rise of fake reviews.

Will the Theranos scandal put a damper on medical tech investing?

Jun 19, 2018

The blood-testing startup Theranos is now firmly in disgrace. Founder Elizabeth Holmes was indicted Friday on federal wire fraud charges and has resigned as the company’s CEO. But whatever happens with Holmes and Theranos, the episode has changed the conversation around biotech investing. Michael Greeley is general partner of Flare Capital Partners in Boston, which specializes in funding health care technology companies. He spoke with Marketplace Tech host Molly Wood about what Theranos' downfall means to the industry overall.

The blood-testing startup Theranos is now firmly in disgrace. Founder Elizabeth Holmes was indicted Friday on federal wire fraud charges and has resigned as the company’s CEO. But whatever happens with Holmes and Theranos, the episode has changed the conversation around biotech investing. Michael Greeley is general partner of Flare Capital Partners in Boston, which specializes in funding health care technology companies. He spoke with Marketplace Tech host Molly Wood about what the Theranos downfall means to the industry overall. (06/19/2018)

Just outside tiny Sheffield, Iowa, a modern steel and glass office building has sprung up next to a cornfield. Behind it, there's a plant that employs almost 700 workers making Sukup brand steel grain bins. The factory provides an economic anchor for Sheffield, population 1,125.

Charles Sukup, the company's president, says that even though workers can be hard to come by, there are no plans to relocate.

"Our philosophy is you bloom where you're planted," Sukup says with a smile.

Copyright 2018 NCPR. To see more, visit NCPR.

DAVID GREENE, HOST:

In the latest move in an escalating trade dispute, President Trump announced Monday evening that he was asking U.S. Trade Representative Robert Lighthizer to suggest $200 billion worth of Chinese goods on which the U.S. could impose a 10 percent tariff.

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