Marketplace Morning Report

Public companies report their earnings every three months, giving investors and the public regular snapshots of how business is going. But President Trump wants to see fewer of those reports. In a social media post on Monday, he said companies should report just twice a year instead of quarterly. Susan Schmidt, a portfolio manager at Exchange Capital Resources — and one of the folks who is often looking at those reports — joins us to weigh in.Plus, the Federal Reserve kicks off a two-day meeting on interest rates, and we take a closer look at efforts in South Africa, Kenya and Nigeria to develop more AI products in African languages.

On Monday, President Trump said public companies should no longer report quarterly earnings. Instead, he suggested corporations report just twice a year. Trump isn't the first to suggest a pared-down reporting schedule, but the idea raises questions about the balance between corporate transparency and long-term growth. Also on the show, the South Korean government has launched an investigation into potential human rights violations during a U.S. immigration raid at a Hyundai plant in Georgia, where 300 South Korean workers were detained and deported. So what does this episode tell us about the U.S. immigration system? Stuart Anderson, executive director of the National Foundation of American Policy, joins us to discuss.

From the BBC World Service: Argentina's president Javier Milei announced a change of course, with plans to increase spending on pensions, health and education. There's a drive in some African countries — including Nigeria, Kenya and South Africa — to create more AI products in different languages, to open up the new tech to more people across the continent. And automaker Jaguar Land Rover confirmed its factories in the UK will stay shut for another week following a cyber hack.

Federal Reserve watchers feel pretty sure the Federal Open Market Committee will cut interest rates by a quarter of a percent this week. The real question? Whether Jay Powell and co. have more rate cuts planned, or if they're taking it meeting by meeting. Also in this episode: An Atlanta non profit helps refugee women become entrepreneurs and the U.S. TikTok deadline approaches.

The import price index, which keeps track of the price of imports before tariffs are applied, comes out tomorrow. You can tell by looking at it who exactly is paying for tariffs. Prices in certain categories have fallen in recent months — a sign that some foreign exporters are trying to offset the cost of tariffs. But first: The U.S. and China are talking trade, and consumers continue to spend despite economic anxieties.

From the BBC World Service: As U.S. and Chinese officials hold trade talks in Spain's capital, the deadline approaches for TikTok, which U.S. President Donald Trump threatened to ban over security worries. Then, the U.S. and U.K. have lined up a string of deals aimed at speeding up nuclear power projects. And, Ghana is the world's largest importer of used clothing, but about 40% is too damaged to resell. How can the problem be addressed?

“Marketplace Morning Report” is breaking down the overall picture of the U.S. economy by zooming in on different regions and taking a closer look. Marketplace's senior economics contributor Chris Farrell reports from St. Paul, Minnesota, about what's happening in the Federal Reserve's Ninth District — which includes most of the upper Midwest. Also: Paramount Skydance explores a bid for Warner Bros. Discovery, and markets anticipate a Federal Reserve rate cut.

"When you face bad economic numbers, you've got two choices: fix the economy or attack the numbers," says University of Michigan economist Justin Wolfers. Today, we'll discuss what to make of how the Bureau of Labor Statistics collects data on jobs and inflation, as well as the doubts cast on BLS under the second Trump administration. But first, grocery prices jumped in August. Thing is, tariffs aren't to blame.

From the BBC World Service: Hundreds of workers have returned home to South Korea following a raid by U.S. immigration at a Hyundai battery plant in Georgia. Officials said many workers violated their visas. This morning, we'll hear about the outrage South Koreans are feeling and the hesitance by South Korean companies to invest in the U.S. Then, Europe will get its first Universal theme park near Bedford, England. What economic benefits could the park bring?

Unionized Starbucks workers are still without a contract after more than a year of bargaining. Both the company and the union say it's the other side holding up negotiations at the bargaining table. Today, we'll hear from a founding member of the union representing workers there. Plus, consumer inflation is moving the wrong way. The consumer price index released this morning showed prices up 2.9% annually in August. We'll discuss.

The Census Bureau finds that the gap between what women and men earned in 2024 widened. Typical wages for men increased 3.7%, but stayed flat for women. Also on this morning's program: An internal watchdog at the Labor Department has launched a probe into how the U.S. Bureau of Labor Statistics collects and reports economic data. Plus, new data found that foreclosure activity is up 18%. How worried should we be?

From the BBC World Service: Pharmaceutical giant Merck has scrapped plans worth more than $1 billion to expand its operations in the United Kingdom, blaming a lack of government support. It's the latest pharmaceutical company to curb investments there. Also, Mexico plans to slap tariffs of up to 50% on cars from China and other Asian countries. And, there's a warning from the World Health Organization that workers worldwide need better protection from extreme heat.

Wealthier foreigners are driving up rental prices and driving out long-term residents in Mexico City. There have been demonstrations there this summer, with some protesters damaging shops and restaurants that cater to tourists. In the popular neighborhood of La Condesa, activists say that as many as one in five homes is now for shorter-term rentals. We'll hear how residents are feeling and learn how the government is responding. But first: good news on wholesale inflation.

A U.S. district court issued a preliminary injunction barring President Donald Trump from ousting Federal Reserve Board Governor Lisa Cook, which means she can stay in her job while she fights her dismissal. The central bank is largely supposed to be insulated from politicians. However, this is unlikely to be the final word on the matter. And later, consumers have choices for many services. Why is that not the case with electricity providers?

From the BBC World Service: President Donald Trump is calling on the European Union to hit China and India — two major buyers of Russian oil — with tariffs of up to 100%. Ursula von der Leyen, president of the European Commission, has been defending her trade agreement with the U.S. at a State of the Union address. Also, protesters in Mexico City have held several demonstrations recently over the growing issue of gentrification.

Latin music is not only popular — it's big business. But Latin artists are increasingly having their live performances canceled as the Trump administration's immigration enforcement efforts increase and as they encounter visa issues. We'll learn about the economic and cultural impacts. Also on the show: New Mexico will become the first state in the union to offer universal child care, and France's prime minister officially resigns as the country grapples with climbing debt.

American enthusiasm for capitalism is slipping, especially among Democrats. That's the headline from a new Gallup poll out this week. In this latest survey, just 54% of respondents said they view capitalism positively. That's down from 60% the last time Gallup asked in 2021. We'll hear more. Plus, we'll get fresh reads on consumer and producer prices this week. How much might these affect a rate cut by the Fed?

From the BBC World Service: France's push to get a grip on its debt problem is expected to result in the ousting of another prime minister, François Bayrou. President Emmanuel Macron must convince European allies and financial markets that he'll get a debt-reducing budget approved by the end of the year. Plus, as gold continues to hit record highs, London's bullion market is preparing to go digital. And the succession battle at Rupert Murdoch's media empire has ended with his eldest son, Lachlan, securing control.

"Recent cuts to programs like SNAP and Medicaid really make it harder for rural Americans to get by day to day," says journalist Michelle Polizzi, who recently wrote about her experiences with housing insecurity in rural America during the 2008 financial crisis. This morning, she joins Marketplace's David Brancaccio to discuss safety net programs and financial hardship in rural areas. But first: an update on reports that hundreds of South Korean workers detained in a Georgia immigration raid last week will be flown home.

This weekend's Powerball jackpot was one of the largest in U.S. history; two lucky players will split the $1.787 billion winnings. But other winners include convenience stores and online lottery retailers, which see a surge in demand around these major jackpots. Also on the show: The U.S. government plans to target more businesses after a raid on a car battery plant construction project in Georgia, and we learn how federal layoffs have affected one family, six months on.

From the BBC World Service: Markets in Japan have reacted positively to the departure of the country's leader, Shigeru Ishiba, following recent election losses and despite a recent U.S. trade deal. Then, French Prime Minister François Bayrou looks set to lose a confidence vote over drastic budget cuts as the country faces mounting debt. And the United Kingdom is trying to tackle the high price of prisoner reoffending; in England and Wales, nearly a third of prison leavers end up back inside, costing the U.K. government around $24 billion annually.

The business journalists at Marketplace have been on the rollercoaster of U.S. trade policy under the Trump administration. But along for the ride, too, are small business owners. Today, we'll hear the latest on where Trump's tariffs stand and learn how the COO of a Queens-based sound effect equipment business is handling the lack of predictability. But first: Just 22,000 jobs were added to the economy in August. How concerned should we be?

The U.S. and Japan have finalized their trade deal a month and a half after it was announced. The White House says there will now be a 15% baseline tariff on nearly all Japanese imports and cut tariffs on Japanese cars almost in half. Also on the show: how climate change is showing up in our economy, what to make of a "delicate" and "vulnerable" job market, and which jobs are on the preliminary "no tax on tips" list.

From the BBC World Service: Up to now, bosses and employees in China have frequently bypassed pension regulations in return for higher wages; from this week, however, the rules are being enforced. We'll hear more. Plus, Jaguar Land Rover's embattled management has told staff to stay at home until Tuesday following a cyberattack. And, with fuel prices in Nigeria quadrupling over the last two years, many farmers are now tapping into the sun's energy to keep water flowing.

Economic data rolling out this week has helped paint a snapshot of the economy. We found out yesterday that 5.3 million people were hired and 5.3 million quit or were laid off in July. Fresh data out this morning revealed that the private sector added only 54,000 jobs last month. Today, we'll discuss this slowing job growth. Plus, an illegal sports streaming site is shut down, and Texas is restricting the ability of certain foreign nationals to own property.

There's a black market trade for everything — including ants. (Yes, even ants.) And President Donald Trump has slashed the number of federal government employees, which included entomologists focused on pest control. Today, we'll look at what the illicit ant trade looks like and the sort of environmental and financial costs that can result from invasive species. But first, Trump has his first chance at reshaping the Federal Reserve through the nomination of Stephen Miran.

From the BBC World Service: India's Finance Minister has announced massive tax cuts on hundreds of everyday consumer items. The move is aimed at boosting domestic demand amid 50% American tariffs on Indian exports. Then, a group of English-speaking hackers claims to be behind a massive cyberattack that's halted global production lines at Jaguar Land Rover. And Texas has become the latest U.S. state to impose restrictions on some foreign-born people and businesses buying or renting property.

The big budget bill that President Donald Trump signed into law in July allowed tax credits under the Affordable Care Act to expire. That means health insurance costs will increase significantly for millions, disproportionately hitting small business owners and self-employed people. We'll learn about the impacts. Also this morning: Retailers have already shifted focus from back-to-school shopping to holiday sales. Thing is, the outlook doesn't look too rosy this year.

We're talking about companies here, obviously. A decade after Kraft Heinz became one of the world's biggest food companies, it's reversing course and is splitting into two. It's not the only corporation to go this route recently: There's Warner Bros Discovery, which is separating into two media companies, and Honeywell, which is separating into three. What's behind all this restructuring? Also on the show: renewed interest in IPOs and promised safety improvements from OpenAI.

From the BBC World Service: A cyberattack has caused major production problems at carmaker Jaguar Land Rover. Both of its main factories in the U.K. have been affected, and it comes at a peak sales period. Plus, long-term government borrowing costs continue to climb globally. Then, police in Singapore have ordered Facebook's parent company, Meta, to take measures to prevent scammers from impersonating government officials. And, a greenhouse gas emissions tax in Denmark will result in big changes to the Danish landscape.

People are increasingly turning to artificial intelligence for therapy — raising concerns among mental health professionals. Illinois legislators have responded by banning therapists from using AI, other than for administrative tasks. Today, we'll explore the benefits and pitfalls of generative AI tech that's used for mental health support. But first, we'll read some market tea leaves with Julia Coronado of MacroPolicy Perspectives.

Just before the Labor Day weekend, a federal appeals court struck down many of the Trump administration's tariffs. The decision is on hold until mid-October, giving the White House time to appeal to the Supreme Court. This morning, we'll parse which tariffs are affected and which aren't. Plus, a lack of trade deals is weighing on American farmers, and caps on federal student loan borrowing will go into effect next year.

From the BBC World Service: Nestlé boss Laurent Freixe left after the company said he failed to disclose a romantic relationship with an employee; his departure threatens more volatility for the company, which has struggled with lower consumer demand and disruptive U.S. tariffs. Then, Kim Jong Un is making a rare trip outside of North Korea, arriving in China as Xi Jinping hosts Vladimir Putin and other leaders. Plus, one Swiss town weighs rebuilding post-avalanche.

Car dealerships always feel the fluctuations of inflation, gas prices, and interest rates. Now, tariffs are added to the mix, hitting their bottom lines at a time when consumers are wary about the future of the economy. In an industry that already contends with relatively slim margins, we'll hear how car sellers are faring. But first, we'll delve into the Federal Reserve's dilemma: worry more about the job market or price increases?

Summer travel is usually supposed to be a major time for the tourism industry. But this year, budget-conscious American travelers are adjusting their vacation plans. Consumers are actually taking more trips than initially anticipated, but they're tending to be shorter, less expensive, and later in the summer than usual. Plus, a new justice tech startup is using AI to simplify the criminal record expungement process in Mississippi.

From the BBC World Service: Speaking to world leaders at the Shanghai Cooperation Organization, China's President Xi Jinping said the country wants to help steady the global economy and has pledged $280 million to support its partners. We learn more. Then, we hear how car dealerships in the U.S. are grappling with new tariff realities. Plus, Norway has agreed to buy five new British warships to boost NATO's presence in the North Atlantic and North Sea.

We're continuing to follow President Donald Trump's campaign against U.S. central bank independence. His move to fire Federal Reserve Governor Lisa Cook over unproven allegations of mortgage fraud has now been challenged by a lawsuit from Cook. Fed independence has been a strength of the U.S. financial system, but what happens if that disappears? We turn to Hungary as a case study. Plus, consumers spend on tech, and we discuss the latest inflation reading.

Much of the movement of the S&P 500 stock index is driven by just seven stocks. Known as the “Magnificent Seven,” they comprise Nvidia, Apple, Microsoft, Amazon, Meta, Alphabet, and Tesla, and are valued at around $20 trillion. Is this a bubble ready to burst? An overvaluation? Or something else entirely? But before we get to that story, we'll learn more about the first court hearing in a case that tests the Federal Reserve's independence.

From the BBC World Service: The United States has ended a long-running global tax exemption on imports worth $800 or less. It's kept goods purchased online inexpensive for many American shoppers. We'll hear more. Then, the Japanese defense ministry wants to triple spending on drone manufacturing as part of a $60 billion budget request. And, the last newspaper hawker in Paris has been honored with the Order of Merit by French President Emmanuel Macron.

Three years ago, then-President Biden signed the CHIPS and Science Act into law, with hopes of giving the U.S. semiconductor industry a boost amid strategic competition with China. Since then, the federal government has been funneling billions into the sector, including STEM education investments. Yet, according to a new study, there's still a shortage of skilled workers to fill critical chip production jobs. But first, a recent grad reflects on automation in the job-hunting process.

President Donald Trump has been relentlessly trying to increase control over the Federal Reserve, most recently with his attempt to fire Fed Governor Lisa Cook. The Fed controls the Federal Funds Rate, which is currently at around 4.5%; the president wants it down to 1%. So, what if that happened? We'll outline the ripple effects. Also: Nvidia didn't meet Wall Street's lofty expectations, and Cracker Barrel's logo saga shows us the power of upset consumers.

From the BBC World Service: Thousands of workers are rallying in Jakarta and 38 other Indonesian provinces to demand higher wages and lower taxes. Plus, BBC data shows cheap goods shipped from China to the United Kingdom more than doubled last year to over $4 billion. And, a Kenyan tech company is encouraging the use of bitcoin in one of Africa's largest slums in hopes of promoting financial inclusion and boosting the area's economy.