Category: 4-FrequentNewsStreams

As the Trump administration heads into a weekend of trade talks with Chinese officials, the President is floating a new tariff rate on Chinese imports: 80%. While it’s much lower than the current tariff rate of 145%, it’s still far too high for many businesses. We’ll get into it. And, a recent legal win for Epic Games could shake up Apple’s App Store. Plus, we’ll weigh in on mass producing orchids and going cashless during a round of Half Full/Half Empty!

Here’s everything we talked about today:

• "DOJ, FTC open inquiry into the concert industry" from The L.A. Times 
• "Fortnite applies to launch on Apple's App Store after Epic Games court win" from CNBC 
• "How Apple Created a Legal Mess When It Skirted Judge’s Ruling" from The New York Times 
• "Ahead of China-US talks, Trump says 80% tariff 'seems right'" from Reuters
• "Revenge RTO: Workers are coming in late, leaving early and stealing snacks as they find small ways to get back at their bosses" from Fortune
• "Trump Revives Push for Higher Taxes on the Rich" from The New York Times
• "How the Exotic Orchid Became a Mass-Market Commodity" from The Wall Street Journal 

• "The drawbacks of an increasingly cashless society" from Marketplace

  
  

  Stand up for Marketplace and public media during this critical time. Donate today: https://support.marketplace.org/smart-sn

This week, the Federal Reserve opted to leave short-term interest rates alone, despite concerns about the rising risks of a weakening U.S. economy. In this episode, we speak with Sudeep Reddy of Politico and Courtenay Brown of Axios about the Fed's latest decision and the current state of trade negotiations. Plus, why NOAA is retiring its billion-dollar disaster database and how New York City is moving to decarbonize its pension fund.

The new Pope has Chicago roots, Mayor Brandon Johnson’s housing initiative gets City Council approval, and new candidates crowd the race to replace Sen. Durbin. Reset goes behind those headlines and much more in our Weekly News Recap. This week’s panel features CW 26 reporter Brandon Pope, Chicago Sun-Times reporter Mitchell Armentrout and Chicago Tribune editor Chris Jones. For a full archive of Reset interviews, head over to wbez.org/reset.

Most consumers are a lot more hesitant to book vacations these days. At least that's what travel companies are telling us — Marriot, Hilton, Hyatt and a slew of airlines all cut revenue expectations for 2025. But one segment of the market is expected to remain strong: luxury travel. We'll hear more. But first: the details of the U.S.-U.K. trade deal and the impact of Bill Gates giving away $200 billion by 2045.

The federal government will no longer track the cost of the most expensive disasters in the country. The National Oceanic and Atmospheric Administration will stop adding dollar damage tallies to its database of events that cause over $1 billion in damage. The move comes as billion-dollar disasters have become more frequent. Plus, as college-bound students look to decide where to go, we'll hear how colleges come up with the price of admission.

To mark Asian American, Native Hawaiian and Pacific Islander Heritage Month, Reset learns more of the past, present and future of Illinois’s South Asian community with the executive director of the South Asian American Policy & Research Institute Shobhana Johri Verma, and education consultant, South Asian American Policy & Research Institute Julie Thomas Achettu. For a full archive of Reset interviews, head over to wbez.org/reset.

From the BBC World Service: Yesterday, U.S. President Donald Trump unveiled an agreement that will reduce import taxes on some British cars and metals and open up the British market to some U.S. beef. Plus, China says its exports to the States fell by 21% in April compared to the previous year. And, the owner of Zara wants the EU to close a tax loophole that favors exporters of cheap goods into Europe.

On this week’s “Marketplace Tech Bytes: Week in Review,” OpenAI retreats from its pivot to profit after its plan to restructure the business hit some snags. Plus, we say goodbye to the old-school internet phone call platform - Skype. But first, the Department of Justice pushed for breaking up part of Google's advertising business by selling off two of its ad tech products, which Google says would be nearly impossible. Marketplace’s Meghan McCarty Carino spoke with Joanna Stern, senior personal technology columnist at the Wall Street Journal, to discuss all these topics and more.

The latest consumer expectations report is out and Americans are feeling much worse about their own personal financial situations than they were in March. Their inflation expectations though, haven’t budged much. In this episode, we look at why that might be — and whether these surveys correlate to economic reality. Plus: tariffs dampen hobby splurgers’ spirits, labor productivity drops and we nibble on the U.S.-U.K. trade deal.

 

Thursday, May 8, the papal conclave chose Robert Prevost to be the next head of the Roman Catholic Church. He was born and raised in the Chicago area and is the first American pontiff. Reset gets local reaction to the announcement from Bob Herguth, Chicago Sun-Times investigative reporter, Father Michael Trail, St. Thomas the Apostle parish in Hyde Park Mary FioRito, attorney, former top aide to Cardinal George, the late predecessor to Cardinal Blase Cupich, the Archbishop of Chicago. For a full archive of Reset interviews, head over to wbez.org/reset.