“Marketplace Morning Report,” hosted by David Brancaccio, is the business news you need to know to start your day. “Marketplace Morning Report” gets you up to speed on what you missed when you were sleeping, kicking off each weekday with a global business update from the BBC World Service in London.
Stocks are up again today, despite new data about the misery of American small businesses. The Fed steps in to help finance small business loans. How commercial fishers are faring. The push for corporations to donate to fight COVID-19.
Allstate says it’s proactively giving a 15% shelter-in-place discount to its car insurance customers. The call for the immediate cancellation of the debt of poor countries. The effect of the pandemic on black-owned businesses.
From the BBC World Service: The 19 countries using the euro currency meet to discuss financial aid. After news the British Prime Minister is in intensive care, the pound sterling is now stable. Dog obedience classes go online amid social distancing.
Signs of COVID-19 cases perhaps peaking. Low demand for fossil fuels has pushed down crude oil prices, rattling U.S producers. There’s no deal yet from OPEC to cut production. Apple CEO Tim Cook says the company will produce 1 million face shields a week. New streaming service Quibi launches today.
Demand for milk is down in this shelter-at-home mode. Sink or swim for startups in this COVID-19 economy. How Nashville, which is still recovering from tornadoes in early March, and its musicians are faring right now.
From the BBC World Service: Tokyo and other key cities in Japan prepare for a state of emergency. Singapore unveils another emergency budget. Stocks rally as oil prices suffer a fresh fall. Can India help Trump with “game-changer” COVID-19 drug?
After almost 9 1/2 years of American payrolls growing month over month, there was a sickening drop in March. And the latest numbers don’t even capture the worst of it. Plus, the history of the U.S. census.
From the BBC World Service: India will receive $1 billion to buy medical equipment, almost half of The World Bank’s emergency fund. COVID-19 around the globe. Clubbing goes online as DJs stream sets from home.
First-time unemployment claims doubled week-over-week, to 6.6 million. There are 100,00 crew members stuck on ships at sea during this pandemic. Some economists push for longer grace periods on debt repayment.
From the BBC World Service: Crews cannot disembark at some ports due to COVID-19 restrictions. Shipping industry leaders are concerned about workers’ welfare. The company offering free sneakers to health care workers.
ADP employment shows payrolls down by just 27,000 people in the last month. A fresh reading on U.S. factory activity. No reopening for Affordable Care Act enrollment. Crude oil prices down big. Car sales in the midst of COVID-19.
Monthly bills are due, but federal COVID-19 money isn’t expected for nearly three weeks. Two big British banks have halted profit payments to shareholders. What the $2 trillion stimulus law means for Boeing.
From the BBC World Service: Business leaders say the Swedish government’s approach is more sensible than many other countries. Some British banks are suspending dividends. A Scottish distillery has switched to making hand sanitizer.
Emergency COVID-19 money should materialize in bank accounts within three weeks. What business activity in China is looking like. Unemployment forecasts. International students deal with campus shutdowns.
From the BBC World Service: While new data suggests China’s economy is rebounding, the rest of Asia faces “economic pain.” India mulls direct cash transfers to help migrant workers. Worries over COVID-19 are boosting local fish sales in Kenya.
Oil prices hit an 18-year low. Workers at an Amazon warehouse in Staten Island are planning a strike for Monday. How this “cancellation economy” is affecting places like the Coachella Valley in California.
From the BBC World Service: With hospital parking lots busier due to COVID-19, what can health workers do? Global governments add more stimulus. Developing countries need increased health spending to tackle the pandemic.
The Dow has been up big the last couple of days, but history shows us there are occasional bull moments in bear markets. Some automakers are hoping to re-open factories in April. Does increasing unemployment compensation incentivize not working?
The House is scheduled to vote today on a third coronavirus relief package. An update on consumer confidence during COVID-19. Concerns about utilities like electricity or water being shut off in parts of the country.
From the BBC World Service: Living paycheck to paycheck is common in countries like Kenya. Migrant workers in India struggle to access financial aid. A Portuguese cafe in east London is lending a hand with a hot meal for those in need.
This morning, we got the worst spike ever recorded in the number of people signing up for unemployment. And the data we’re getting from government agencies might not be capturing the full scope of the damage. Virus relief bill passes in the Senate.
From the BBC World Service: World leaders prepare to debate a global action plan to tackle the pandemic. Seychelles is ahead of schedule with a pioneering marine conservation plan. Musicians make ends meet by moving festivals online.
From the BBC World Service: Transport is resuming across the Hubei province, except in Wuhan. U.S. lawmakers strike a $2 trillion stimulus deal. India’s daily-wage workers worry as the country goes into lockdown. Britain’s motorsport industry answers the call to make ventilators.
Americans get hope that the economy won’t be shut down for months or quarters. What life is like for grocery store workers right now. Contingency planning for airlines. The Summer Olympics get pushed back to 2021.
Stock futures rally sharply now even as Congress continues to argue over balancing aid to people versus aid to companies. How health care professionals get licensed. A partial lift of the virus lockdown in Wuhan is ahead.
From the BBC World Service: As Britain tightens its lockdown, one tourist guide has a novel approach to working from home. Share buybacks face criticism as governments and banks provide emergency supports for companies.
The Fed says it will buy as many bonds as it takes to prop up credit in the U.S. Britain’s finance minister has pledged to pay up to 80% of paychecks. PG&E pleads guilty to criminal charges in 2018 Camp Fire.
Software will temporarily take over for the New York Stock Exchange so human traders don’t have to come to work. Tax Day moved to July 15. The SEC is watching out for insider trading during the pandemic.
From the BBC World Service: As stores on main street close indefinitely, millions of garment workers in Bangladesh are at risk of losing their jobs. The OECD chief says a quick recovery is “wishful thinking.” Is France’s $370 billion emergency pot enough to support the economy?
Stocks mixed to start the day. California, the fifth largest economy in the world, gets an order to “stay at home.” Financial institutions in New York have been ordered to waive, for now, some mortgage payments. How will COVID-19 affect the normally busy spring homebuying season?
Supermarket chain Kroger is hiring 10,000 people. Goldman Sachs predicts first-time unemployment claims will soar to 2.25 million. The White House wants $50 billion to help U.S. airlines stay alive, and another $150 billion for other distressed industries.
From the BBC World Service: More than 8% of COVID-19 cases in Italy are among health care workers. European shares rise as oil prices rally. Germany considers a $540 billion emergency business support fund. Slack workers try out a virtual pub quiz.
There were 281,000 more people who signed up for unemployment benefits last week. The big three Detroit automakers say they’re shutting down factories until at least March 30. The cities and states putting temporary holds on evictions.
The Fed offers emergency loans to what are considered low-risk money market mutual funds, and why that’s important. An early measure of layoffs during COVID-19. Price discrimination in the age of coronavirus.
From the BBC World Service: The European Central Bank will buy government and company debt across the eurozone, including that of Greece and Italy. The British pound is at a 30-year low against the U.S. dollar. A bar turns to at-home wine tasting.
Crude oil at its lowest point in 17 years. A penalty-free, interest-free delay on paying taxes you owe to the federal government. Partial, rotating factory shutdowns for U.S. automakers. How homeless shelters are handling social distancing.
The White House’s plan to send money directly to Americans to soften the economic blow from COVID-19: How would it work? Businesses in London finding it harder to “keep calm and carry on.”
From the BBC World Service: As more people use their home offices, broadband networks face greater demand. Investors are still wary, even after lots of government stimulus. Keeping calm and carrying on is getting harder for British restaurants.
Will what happened to automakers 10 years ago now happen to airlines? A new economic stimulus package under discussion. The logistics challenges that grocery stores are trying to fix. What COVID-19 has done to investment portfolios, and how to proceed.
From the BBC World Service: Volkswagen is temporarily shutting down some of its European production. Stock markets in Europe erased early gains. Ireland’s pubs are closed on St Patrick’s Day.
Declines in Chinese retail sales and industrial production show us where the U.S. is headed. Companies respond to the FCC’s request for phone and internet providers to get flexible. Sharply falling consumer confidence. How border closures would be catastrophic for supply chain companies.
Markets are falling again this morning, even with a big move to boost the U.S. economy in the face of COVID-19. What do municipalities’ rainy day funds look like right now? Severe drops in public transit ridership.
From the BBC World Service: Global markets fall despite the Fed cutting interest rates to near zero. Airlines slash capacity and ask for government support. French perfume brands start producing hand sanitizer.
Stock markets are up enough to get your attention. In some job fields, companies are actually trying to hire more right now. Health insurance and the question of a public good during the time of COVID-19.
From the BBC World Service: European stocks saw a slight recovery in early trading, but CMC Market’s Michael Hewson says he sees no sign the sell-off won’t continue. While everyone’s eyes are on the stock market, Allianz chief economic adviser Mohamed El-Erian has his eye on the corporate bond market.
From the BBC World Service: President Trump has announced sweeping travel restrictions on 26 European countries in a bid to combat the spread of the novel coronavirus. All eyes on the European Central Bank as markets await stimulus measures. The NBA halts all games after a Utah Jazz player tests positive for the virus.
Governments around the globe figure out how to fight back against COVID-19. The Coachella and Stagecoach music festivals scheduled for next month get postponed. The federal government still needs to find 500,000 people to work the 2020 census.
President Trump’s push for a payroll tax cut. What action will Europe take to support its economy during the new coronavirus outbreak? How banning political ads on certain social media platforms is affecting campaigns.
From the BBC World Service: The Bank of England has announced an emergency cut in interest rates to shore up the economy amid the COVID-19 outbreak. U.K. Chancellor Rishi Sunak will unveil his first budget today. Singapore presents an instructive test case for virus containment.
From the BBC World Service: Stocks are down yet again amid COVID-19 uncertainty. China prepares to release its latest trade figures. Ahead of International Women’s Day, why there are so few female central bankers.
How will COVID-19 be reflected in the jobs report? Michael Bloomberg spends half a billion dollars before dropping out of the 2020 race. What the employment contracts of 18th-century pirates can teach us.
From the BBC World Service: Crude oil prices are down 25% since early January. How Australia’s economy is recovering after the recent bushfires. U.K. regional airline Flybe blames COVID-19 in part for its collapse.
From the BBC World Service: India has restricted the export of some drug ingredients and medicines because of COVID-19. Africa-based airlines have so far lost $400 million. How Beijing’s shopkeepers are faring in the face of the coronavirus.
Fed cuts interest rates by half a percentage point. Amazon cracks down on those selling COVID-19-related products at inflated prices. Quebec, Canada, as a potential giant storage battery to fight climate change.
From the BBC World Service: Australia’s central bank cuts interest rates. The airline industry asks regulators to suspend rules on takeoff and landing slots. Paris could ban patio heaters due to climate concerns.
From the BBC World Service: Financial markets open higher after losses last week. British negotiators arrive in Brussels to begin talks about a new trade deal with the EU. Overnight sleeper trains in Europe are making a comeback.
From the BBC World Service: COVID-19 coronavirus weighs heavily on global markets. Airlines and hotels hit hard as cancellations mount. The important difference between points and percentages in the stock markets.
From the BBC World Service, global markets still feeling coronavirus fears. Northern Italian towns remain on lockdown. South Korea keeps interest rates on hold, despite disease spread and a weakened economy.
Uncertainty over how COVID-19 will affect near-term bottom lines. National Labor Relations Board plans to make it harder for certain workers to unionize. The $24-billion industry of secondhand clothing.
U.S. consumers primarily view the coronavirus as a risk to global economic growth. Companies in the travel business are managing the fallout from COVID-19. Some financial innovation geared toward retirement plans.
From the BBC World Service, global markets down again on fears of coronavirus spread. Hong Kong dishes out cash to its residents. South Africans brace for a crucial budget. Why European banks keep losing chief executives.
Bahrain, Kuwait and Afghanistan report first-time infections, while South Korea and Italy see sharp increases in cases. Lowe’s and Home Depot will be releasing their quarterly earnings. SCOTUS hears a case over the contested $8-billion Atlantic Coast Pipeline.
Sharp increases in the number of coronavirus cases worldwide wreak havoc on markets. New U.S. immigration rules take effect today. An economics professor estimates that between 5% and 8% of international aid is diverted to offshore accounts.
Italy reports the most coronavirus cases outside of Asia, causing worries for the country’s economy. And Prime Minister Narendra Modi welcomes President Trump to India, with both hoping for a trade deal to resolve long-simmering tension.
The coronavirus hit in Asia is bigger than expected. How the epidemic’s expansion is affecting the auto and airline industries in China. One CEO who’s juggling the current challenges that come with doing business between the U.S. and China.
On streaming sites, political ads aren’t always required to disclose who paid for them. How coronavirus is hitting inmates of China’s prison system. What we can learn from Tokyo about affordable housing.
Services sectors remain somewhat resilient, while manufacturing is struggling with supply-chain disruption from China’s coronavirus outbreak. No India-U.S. trade deal expected on President Trump’s imminent visit. Will steel jobs lost in North East England during the 1970s ever come back?
Home construction ticked up in January. What coronavirus and a jump in the price of acetaminophen in India mean for the world’s largest generic drug exporter. Plus, a look at economic equality through the “veil of ignorance.”