Episodes
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I Should Help Set Interest Rates, If President: Trump; 2,500 Detroit Autoworkers Laid Off | Business Matters Full Broadcast (August 9)
Former President Donald Trump says that, if he becomes President, he should have a say in the fed's interest rate decisions - a policy that impacts the world economy. Stellantis is laying off almost 2,500 factory workers from an assembly plant outside of Detroit. The automaker is ending…
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JP Morgan: Recession Now More Likely; Average American Now Carrying Over $6300 in Credit Card Debt | Business Matters Full Broadcast (August 8)
JP Morgan now raising the odds of a recession by the end of this year to 35-percent. That’s up from 25-percent. The news comes after a weaker than expected July jobs report and the sharp sell-off in global equities over the unwinding of the yen-funded carry trades. American budgets are being...
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$17.8 Trillion - Highest US Household Debt Ever; Japan Backs Off Interest Rate Hikes Fearing Market Volatility | Business Matters Full Broadcast (August 7)
$17-point-eight trillion dollars. That's the latest number for U-S household debt on, according to the Federal Reserve Bank of New York. And the largest on record. Auto loan and mortgage debt rose and credit card debt reached an all-time high. Important news for investors coming out of Japan…
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JP Morgan: Yen Carry Trade Unwind Only Half Done; Apple Could Be Hurt by Google Antitrust Case | Business Matters Full Broadcast (August 6)
We've been covering how the unwinding of a popular trade has rippled through global markets. JP Morgan and UBS saying today that the unwind is only 50% done. For years, investors around the world have been taking advantage of Japan's 0% interest rate policy. The low rates in essence allowed...
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Japanese Yen Carry Trade Shakes Markets | Business Matters Full Broadcast (August 5)
All three major US indexes in the deep red today. And it wasn't just the United States. Japan's Nikkei closing over 12% lower today. It's worst day since 1987. That's when Black Monday hit Wall Street. We look at what the unwinding of the yen carry trade may have to do with it. A federal judge…
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Unemployment Rate Hits 32 Month High; Intel Shares Fall 26% in One Day | Business Matters Full Broadcast (August 2)
The US economy added just 114,000 jobs compared to 175,000 expected. The unemployment rate rising to its highest level since October 2021. This is all according to new government data released today. Hourly wages rose just 3.6% from July 2023, the smallest year-over-year gain since May 2021. The...
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Jobless Claims at 11 Month High; Manufacturing Activity at 8 Month Low | Business Matters Full Broadcast (August 1)
The stock market flashing red today as warning signs flash in other areas of the economy too. Weekly jobless claims now at an 11-month high. Today's labor market report also showing also the total number of people on jobless rolls is at the highest since 2021. Manufacturing data suggesting a slow...
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Fed Signals Rate Cut Coming Soon; Delta Reveals Cost of CrowdStrike Outage | Business Matters Full Broadcast (July 31)
Chairman Jerome Powell today acknowledging weakness in the jobs market and the economy. He says the broad sense among the Fed committee is that things may be deteriorating to a point where the economy will soon need stimulus. That could come as soon as September in the form of a rate cut. 500...
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Investors Dump Microsoft Shares After Earnings Report; Meta Pays Texas $1.4 Billion | Business Matters Full Broadcast (July 30)
Microsoft Shares down over 6% in after-hours trading. Revenue from Microsoft's flagship cloud product Azure disappointing. We talk to RP Capital Solutions CIO, Vijay Marolia. Facebook parent company Meta's shares down over half a percent today. It will pay a $1.4 billion settlement to Texas over...
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Worst Losses for Home Insurers in 100 Years: Report; DOJ Asks Court To Uphold TikTok Sale Or Banned Law | Business Matters Full Broadcast (July 29)
2023 saw the worst underwriting loss in a century for home insurers. That’s according to rating agency A-M Best. It found insurance providers were hit with a 15-billion dollar net underwriting loss. That’s when an insurance company has to pay out more in claims than expected. The Justice…
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Google’s Biggest Money Maker Facing New Threat; Stock Market Rallies Despite Mixed Economic Data | Business Matters Full Broadcast (July 26)
The maker of Artificial Intelligence Chat-Bot ChatGPT announcing its most direct challenge yet to google's search engine. OpenAI is testing SearchGPT. it will combine its AI technology with information from the web to allow people to search for things in the same way they talk to ChatGPT. 57% of...
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Interest Payments Now 76% of Total Personal Taxes; Southwest Dropping Open Seating Policy | Business Matters Full Broadcast (July 25)
Interest Payments Now 76% of Total Personal Taxes; Southwest Dropping Open Seating Policy The US National debt is about to hit 35 trillion dollars. US national debt is about to hit 35 trillion dollars. The gross interest on that debt is now massive. As a comparison, it’s 76% of all personal…
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Tesla Stock Plummets After Net Income Falls 45%; Tech Outage Caused by “Bug”: Crowdstrike | Business Matters Full Broadcast (July 24)
Tesla stock plummeting a day after posting 2nd quarter earnings. Car sales, its main business, down 9 percent year-over-year, at 18.5 billion dollars. Higher costs did not help: net income down 45 percent, at 1.5 billion. CEO Elon Musk immediately addressing this in the earnings call. Crowdstrike...
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39% of Americans Worry They Can't Pay Bills: Poll; Federal Govt. Investigating Delta | Business Matters Full Broadcast (July 23)
With wage gains failing to keep up with inflation Americans are struggling. A new poll finding 39% of Americans can’t pay bills. The FTA will investigate Detla over flight delays caused by a global tech outage. Delta says it will cooperate with the investigation. A small Maine leather maker has...
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Pelosi Endorses Harris; NYC Delivery Drivers Band Together to Fight Crime | Business Matters Full Broadcast (July 22)
Vice President Kamala Harris emerges as the favorite to win the democratic nomination for President. Nancy Pelosi and other top democrats are endorsing her. What would her economic policies look like if she became president? Criminals are stealing delivery drivers’ e-bikes in New York City. Now,...
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A Billion Computers Affected by Tech Outage: Expert; Florida Home Prices Falling; Regional Banks Riled by Commercial Real Estate | Business Matters Full Broadcast (July 19)
A worldwide tech outage ripples through critical infrastructure. One cybersecurity expert tells us over a billion computers have been hit. Price cuts are becoming much more common in the Florida housing market. Is it a sign of things to come for the rest of the country? Commercial real estate is...
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Analyzing JD Vance’s Plan for Protecting American Manufacturing; Gold Hovers Near Record High | Business Matters Full Broadcast (July 18)
We unpacking the economic policies of former president Trump's running mate: Ohio Senator J-D Vance. Vance is a successful businessman and venture capitalist. But he's also pro-American worker and pro-union. Trump implemented a somewhat unconventional republican economic plan when he was in…
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Musk to Move SpaceX, X Headquarters to Texas; Amazon Prime Day 1 Pulls in $7.2B | Business Matters (July 17)
SpaceX will be taking off from California and not returning. Founder Elon Musk will be moving his headquarters for the aerospace company and his social media company X to Texas. Musk said his announcement was spurred by a new California law, which he called the “last straw.” Even the possibility…
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Teamster Says It's Not Beholden to Any Party; Biden to Unveil Plan to Cap Rent Increases | Business Matters (July 16)
One of the largest trade unions in America says it’s not beholden to any political party. The teamsters have supported democrats for decades. But, its president gave a speech at the Republican National Convention last night, the first time in over a hundred years. High interest rates continue to...
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AT&T Data Breach Exposes Almost Every Customer’s Call Records; Musk Rejects New EU Charges | Business Matters (July 12)
Almost all of AT&T's customers, have had their text and call records stolen! Although, the content of the texts and calls have not been. European regulators have charged Elon Musk’s X with breaching its Digital Services Act. they are accusing the platform of misleading its users among other...
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Biden Admin Award $1.7B For EV Production; Annual Inflation Eases To 3% | Business Matters (July 11)
The federal government is spending $1.7 billion to modernize automobile manufacturing facilities, helping the industry compete with foreign subsidies and create and protect jobs. The U.S. annual inflation rate eased for the third consecutive month and came in below the consensus estimate…
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Musk Beats $5M Lawsuit By Fired Twitter Workers; Microsoft Ditches OpenAI Board Seat | Business Matters (July 10)
Elon Musk has won dismissal of $500 million lawsuit which claimed some Twitter employees did not receive adequate severance when they were laid off after musk took over. Microsoft has given up its board observer seat at OpenAI in a move seemingly aimed at easing U.S. and UK antitrust regulators'...
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Fed: Jobs Market is Weakening; United Plane Loses Wheel on Takeoff | Business Matters (July 9)
The chairman of the Federal Reserve today acknowledging the jobs market is cooling. But he says he's increasingly confident that inflation is on its way down to a more normal level. A United Airlines Boeing 757-200 plane lost a wheel from its landing gear while taking off from Los Angeles...
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Boeing to plead guilty to fraud; Paramount, Skydance agree to merger | Business Matters (July 8)
Boeing will plead guilty to a criminal charge of defrauding the U.S. government over the deadly 2018 and 2019 737 Max crashes that killed 346 people, the U.S. Department of Justice (DOJ) said in a July 7 filing. Paramount Global’s board of directors has approved a merger with Skydance Media,...
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JP Morgan Warns It May Charge for Checking Accounts; Japanese Fans Flock to U.S. to See Baseball's Ohtani | Business Matters Full Broadcast (July 5)
JP Morgan says Chase customers should get ready to pay for run-of-the-mill checking accounts. That's if the U.S. government caps the bank's other fees. But the head of JPMorgan owned Chase Bank told the Wall Street Journal that if this revenue source dries up, customers will have to fork out in...
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Jeff Bezos to Sell $5B of Amazon Stock; Saks Fifth Owner Buying Neiman Marcus | Business Matters Full Broadcast (July 4)
Amazon founder Jeff Bezos is cashing in. He is selling 5 billion dollar-worth of Amazon stock as shares hit an all-time high. Amazon stock is up more than 30% so far this year. Two of the most popular high-end department stores are joining forces. The parent company of luxury retailer Saks Fifth...
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China’s Temu is Malware: State Attorney General; China’s Temu is Malware: State Attorney General; Google's Carbon Emissions Rise 50% | Business Matters Full Broadcast (July 3)
Arkansas Attorney General Tim Griffin has issued a stark warning against using the Temu marketplace app, labeling it a "data theft business." His office filed a lawsuit alleging Temu uses malware to access personal data. The app, operated by China-based Pinduoduo Inc., is accused of invasive data...
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Exploited Foreign Workers Found Making Luxury Goods; AI Exam Cheating Goes 94% Undetected: Study | Business Matters Full Broadcast (July 2)
Italian investigators discovered exploited foreign workers making Armand and Dior luxury handbags, among other goods. Luxury brands have high price tags, partly because consumers expect them to be made by skilled workers in artisanal workshops. A study found that exam papers completed by…
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Supreme Court Deals Another Blow to ‘Administrative State’ | Business Matters Full Broadcast (July 1)
After the Chevron ruling, today came Corner Post. The supreme court on July 1 made it easier for American businesses to challenge federal regulations. The highest Court ruled 6-3 that a retailer can challenge the fees the Federal Reserve System allows banks to charge for processing debit card...
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Supreme Court Strips Back Power of Federal Agencies; Uber to Pay Drivers $32.50 per Hour in One State | Business Matters Full Broadcast (June 28)
The Supreme Court overruling Chevron deference could have a major effect on business in the United States. The ruling strips power from federal agencies like the Securities and Exchange Commission and the Environmental Protection Agency. Uber and Lyft have just agreed to pay their drivers $32.50…
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Boeing Sanctioned by US Government; Home Prices to Stay High: BOA; Walgreens Shares Fall 20% | Business Matters Full Broadcast (June 27)
It looks like Boeing is in trouble again. So it spoke in a briefing this morning about the door plug that flew off a 737 Max back in January. But government safety regulators say Boeing wasn’t allowed to speak to the media like that. Bank of America says U-S home prices will stay high and the...
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Home Flipping Gross Profits Rose To 30.2% Last Quarter; Amazon Hits $2 Trillion Market Cap | Business Matters Full Broadcast (June 26)
Home flippers earned a 30.2% gross profit nationwide before expenses on homes sold during the first quarter of 2024, up from 27.7 percent in the fourth quarter of 2023. This is according to real estate data firm ATTOM. Home flipping activity also went up. Amazon.com Inc hit $2 trillion in market...
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Microsoft Hit with EU Antitrust Charge, Risks Hefty Fine; Tesla Recalls Cybertrucks | Business Matters Full Broadcast (June 25)
Microsoft is in trouble with the EU over its popular collaboration app Teams, and could face a big fine. Antitrust regulators charged the U.S. tech giant on Tuesday (June 25) of illegally bundling the product with its Office software, making it hard for rivals to compete. Tesla said on Tuesday it...
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Apple Charged with Breaching EU Tech Rules; China Wants EU To Scrap EV Tariff | Business Matters Full Broadcast (June 24)
Apple is in hot water with European authorities again. EU antitrust regulators said Monday the company's App Store conditions breach the bloc's tech rules. They accuse the U.S. tech giant of preventing app developers from steering consumer to alternative offers. It's a charge which could lead to…
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U.S. Home Prices Hit Record High; Trump Floats Green Cards to Foreign Graduates | Business Matters Full Broadcast (June 21)
National Association of Realtors report home prices rose to a record high in May, with median price now $419k. According to Zillow, households would need to save more than $127,000, to make a down payment on a typical home and afford the mortgage payment. Former president trump yesterday floated…
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NY State Bans Addictive Social Media Feeds, 1st In U.S.; McDonald’s Reveals Details of $5 Meal | Business Matters Full Broadcast (June 20)
New York Gov. Kathy Hochul on Thursday signed a bill that would allow parents to block their children from getting social media posts suggested by a platform's algorithm, a move to limit feeds critics argue are addictive. McDonald’s has revealed the details of its highly anticipated $5 value…
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DOJ: Chinese Group Laundered Money for Mexican Drug Cartel; 18 Million Homeowners Are ‘House-Poor’ | Business Matters Full Broadcast (June 29)
A five-year investigation by U.S. officials has uncovered a complex partnership between one of Mexico’s most notorious drug cartels and Chinese underground banking groups in the U.S. that laundered money from the sale of fentanyl, cocaine and other drugs, federal prosecutors said Tuesday. Legacy...
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Boeing CEO Grilled in Senate Hearing; Nvidia Becomes Most Valuable U.S. Company | Business Matters (June 18)
U.S. senators on Tuesday blasted the CEO of Boeing for the planemaker's tarnished safety record, overshadowing his apology to families who lost loved ones in two 737 MAX crashes and acceptance of responsibility after a January mid-air emergency. U.S. retail sales barely rose in May and data for…
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Surgeon General Calls for Social Media Warning Labels; China Opens Anti-dumping Probe into European Pork | Business Matters Full Broadcast (June 17)
U.S. Surgeon General Vivek Murthy on Monday called for a warning label to be added to social media apps as a reminder that those platforms have caused mental health harm to young people, especially adolescents. China has opened an anti-dumping investigation into imported pork and its by-products...
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Wells Fargo Fires Employees for Allegedly Faking Work; Consumer Sentiment Hits 7-Month Low | Business Matters Full Broadcast (June 14)
Wells Fargo last month terminated over a dozen employees after reviewing allegations that they were involved in simulation of keyboard activity, creating an impression of active work, Bloomberg News reported on Thursday. Consumer sentiment deteriorated in June as households worried about…
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Tesla Shareholders Approve Musk's $56B Pay Package; Weekly Jobless Claims at 10-Month High | Business Matters Full Broadcast (June 13)
Tesla shareholders approved CEO Elon Musk's $56 billion pay package, the electric vehicle-maker said on Thursday, a big thumbs-up to his leadership and an enticement for keeping his focus on his biggest source of wealth. The head of the Federal Aviation Administration (FAA) said Thursday the…
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Consumer Prices Unchanged in May; Fed Holds Rates Steady | Business Matters Full Broadcast (June 12)
U.S. consumer prices were unexpectedly unchanged in May as cheaper gasoline and other goods offset higher costs for rental housing, but inflation remains too high for the Federal Reserve to start cutting interest rates before September. The Federal Reserve held interest rates steady on Wednesday...
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Musk Threatens to Ban iPhones at His Companies; Small Business Sentiment and Uncertainty Up | Business Matters Full Broadcast (June 11)
Billionaire Elon Musk said on Monday he would ban Apple devices at his companies if the iPhone maker integrates OpenAI at the operating system level. The National Federation of Independent Business has released its latest data. Its Small Business Optimism Index rose and so did its Uncertainty...
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Apple Brings ChatGPT to iPhone; Phone Apps Track Drivers for Insurance Companies | Business Matters Full Broadcast (June 10)
Apple unveiled a long-awaited AI strategy on Monday, integrating its new "Apple Intelligence" technology across its suite of apps including Siri and partnering with OpenAI to bring ChatGPT to its devices. Certain smartphone apps, some of which aren’t directly related to driving, track driver...
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‘Labor Market is In Recession': Strategist; GameStop Slumps as 'Roaring Kitty' Returns to YouTube | Business Matters Full Broadcast (June 7)
The U.S. economy created far more jobs than expected in May and annual wage growth reaccelerated, adding pressure on the Federal Reserve to hold off on interest rate cuts. Stock influencer Keith Gill's first livestream in three years failed to spark enough investor enthusiasm in GameStop on…
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ECB Cuts Interest Rates; Top News App Shows Fake News, Has Ties to China | Business Matters Full Broadcast (June 6)
One of the most downloaded news app in the United States, named Newsbreak appears to has ties to China, and is allegedly producing fake news using artificial intelligence. In one example, the app published a piece about a small town shooting in Bridgeton, New Jersey, but the shooting never took...
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Boeing Starliner Sends Astronauts to Orbit; Walmart Offers Bonus to 700k Hourly Workers | Business Matters Full Broadcast (June 5)
Boeing's new Starliner capsule flew its first crew of astronauts to orbit on Wednesday from Florida in a much-delayed test mission to the International Space Station, a milestone in the aerospace giant's ambitions to step up its competition with Elon Musk's SpaceX. Walmart will pay bonuses to its...
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NIH Received $710M in Royalties from Drugmakers: Report; AI Insiders Warn of ‘Serious Risks’ Posed by the Tech | Business Matters Full Broadcast (June 4)
Royalty payments from drug companies to the National Institutes of Health (NIH) jumped following the COVID-19 pandemic in 2021, according to a new report from nonprofit government watchdog “OpenTheBooks.com”. It says, in 2022 and 2023, pharmaceutical and healthcare companies paid the NIH over…
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Gamestop Climbs as 'Roaring Kitty' Reveals $116 Million Bet; Trump Joins TikTok, Gaining Over 4 Million Followers | Business Matters Full Broadcast (June 3)
GameStop shares jumped around 20% on Monday after the stocks influencer known as "Roaring Kitty" returned to Reddit with a post showing a $116 million bet on the embattled video game retailer. Former President Donald Trump gained over 4 million followers within a day of joining TikTok, surpassing...
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Trump: $39 Million Raised after Conviction; U.S. Inflation Up Moderately In April | Business Matters Full Broadcast (May 31)
Today is the first day after former president Donald Trump’s historic felony conviction in New York. Trump vows to fight the verdict, and we get reactions from a financial analyst and people on Wall Street. U.S. inflation tracked sideways in April and consumer spending weakened, mixed signals for...