Economy & Business

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03/20/17: A move away from globalization

Mar 20, 2017
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Marketplace

The world's top finance leaders met in Germany this weekend for the latest G20 summit, with signs indicating that the U.S. is backing away from globalization. Stephan Richter, editor in chief of the Globalist, joins us to discuss what went down at the meeting. Next, we'll talk about why early advocates of AZT, the first treatment for HIV/AIDs, began lamenting its rapid approval. And finally, we'll look at Goldman Sachs' new online platform, Marcus, for providing small loans.

After less than a year as president of Uber, Jeff Jones is leaving the embattled ride-hailing company, Uber confirms.

"We want to thank Jeff for his six months at the company and wish him all the best," an Uber spokesperson says in a statement.

Jones, previously Target's chief marketing officer, was brought on by CEO Travis Kalanick last fall to boost Uber's reputation.

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MICHEL MARTIN, HOST:

One thing we didn't expect to see here at South by Southwest were the virtual reality helmets. They were everywhere.

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MICHEL MARTIN, HOST:

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

MICHEL MARTIN, HOST:

This weekend we're coming to you from the Texas Standard studio at KUT in Austin, Texas. We're here for South by Southwest. And if you haven't heard of South by Southwest, let me try to describe it. First, there is music everywhere.

At this weekend's gathering of the Group of 20, the world's 20 largest economies, the group took a step back from its typically overt pro-free trade agenda, in the wake of pushback from the United States.

Treasury Secretary Steven Mnuchin and Federal Reserve Chair Janet Yellen represented the U.S. in two days of meetings with their counterparts from the world's 20 largest economies in Baden-Baden, Germany.

Remember Google Glass?

They're the headsets that look like regular glasses but have a small computer on the side to speak to and access the Internet. If that's not ringing a bell, it could be because Google Glass fizzled out and was discontinued in the consumer market.

But now, it's getting a second life in the manufacturing industry.

U.S. Customs and Border Protection is asking for design proposals and prototypes of President Trump's proposed wall on the U.S.-Mexico border.

Hiding inside each price tag is a messy tangle of information. How much did this cost to make? How much will someone pay to have it? What else can they buy with that money? What did it cost last year?

We bring you three stories untangling a price tag, three stories of setting a value on something when it isn't so easy to slap on a price tag.

  • We try to figure out what $1 trillion means, because that's what Donald Trump says he wants to spend on infrastructure. We'll tell you what $1 trillion can buy, and two caveats about Trump's plan.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

ROBERT SIEGEL, HOST:

A Norwegian fund that manages government employees' pensions has decided to remove its investments from the companies behind the Dakota Access Pipeline, a move that was reportedly inspired by pressure from Norway's indigenous Sami peoples.

David Higginbotham contracted hepatitis C more than 35 years ago. He'd like to rid his body of the virus, but Colorado's Medicaid program says he's not sick enough to justify the cost.

And he's not alone.

The risky business of building Trump’s wall

Mar 17, 2017
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Jana Kasperkevic

It’s been almost two months since President Donald Trump took office as the 45th President of the United States and so far, no construction has begun on the border wall that was at the core of Trump’s campaign. Yet local governments are already taking steps to sever their connection to companies that might end up working on the wall that Trump says will protect the border between the U.S. and Mexico.

New York's taxi economy implodes

Mar 17, 2017
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Marielle Segarra

As ride-sharing apps like Uber and Lyft have become more popular, ridership in New York City's yellow taxis has dropped by nearly 30 percent in the past three years. And that means financial hardship for the people who own taxi medallions — the metal plaques that permit someone to drive a cab — along with huge losses for the financial institutions that fund them. 

On 8th Avenue in Manhattan, Qudratullah Saberry is sitting in the driver's seat of his cab across the street from a hotel.

Updated at 4:50 p.m. ET

At a wide-ranging and occasionally tense news conference after their first in-person meeting Friday, President Trump and German Chancellor Angela Merkel discussed trade and border policy — and had one notable exchange when Trump was asked about his unproven claims that former President Obama tapped the phones at Trump Tower last year.

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