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SEC files complaint against Tesla’s Elon Musk

Sep 27, 2018

DETROIT — U.S. securities regulators have filed a complaint against Tesla CEO Elon Musk alleging that he made false and misleading statements about plans to take the company private in August.

The Securities and Exchange Commission says in the complaint filed Thursday that Musk falsely claimed in an Aug. 7 statement on Twitter that funding was secured to take the company private at $420 per share.

The complaint filed in the U.S. District Court in Manhattan says that Musk had not discussed or confirmed key deal terms including price with any funding source.

As 70 mm film sees a comeback, who's running those projectors?

Sep 27, 2018

Up in the projection booth at the Alamo Drafthouse Cinema in Brooklyn, head projectionist Tanner Agle tinkers with a 70 mm projector.

“I’m hitting this green button start," he said, as the projector starts up a familiar whirring sound. "I’m just gonna run this a little bit.”

Let's look at the big picture

Sep 27, 2018

As the United States and Mexico finalize details of a trade agreement, the Trump administration has written a rule that Mexican auto manufacturers pay workers a $16 hourly wage or face a 2.5 percent tariff. But the extra taxes might be cheaper than raising wages. We'll look at what a deal could mean for labor in Mexico, plus give an update on the World Trade Organization and trade talks with Japan. Then: 70 mm film is making a comeback in Hollywood, and that means there’s a revival in the fading film projectionist workforce. 

Hundreds of times each day, people settle into individual mirrored booths in a building in the heart of the Downtown Eastside neighborhood of Vancouver, British Columbia. They unpack the drugs they’ve brought and then do their thing, prepping, then injecting. But here, they shoot up under the watch of a nurse. Clean needles and naloxone are within easy reach. 

Mat Savage credits the place with saving his life.

Every day, Brent Olson travels some 20 minutes by train into Vancouver’s Downtown Eastside neighborhood. He has a degenerative hip disorder and uses a walker to get around. But there’s no way he’d miss this clinic appointment.

“The best decision I’ve ever made in my life was coming here,” Olson said. “I wouldn’t be sitting here talking with you. I’d be dead.”

The CEO of one of the nation’s largest automakers says metal tariffs imposed by the Trump administration earlier this year have cost his company $1 billion in profits and sales. Ford boss Jim Hackett made the comment at a gathering of business leaders in New York on Wednesday. The administration imposed the steel and aluminum levies to bolster American businesses.

Click the audio player above to hear the full story. 

Stephen Sharkey is Florida grown, as they say. He was born and raised in Brevard County, three hours north of Miami. As a kid in the '80s, he spent a lot of time exploring the Indian River Lagoon, a coastal inlet that spans five counties and supports thousands of animal and plant species.

“My earliest memories are my dad coming home from work and going to collect blue crab out of the canals,” said Sharkey, standing at the shore of the lagoon.

Student loans make wealth gap worse for blacks

Sep 27, 2018

While the pursuit of higher education should put students on a path to success, a new study finds a deep disparity along racial lines. With less resources to pay for college, black students took out 85 percent more in student loans than their white peers. Predatory private loans, for-profit colleges and slower rates of loan repayment can work against black students seeking financial advancement, worsening wealth inequalities.

Click the audio player above to hear the full story. 

There are some big changes coming to the bail industry in California. Gov. Jerry Brown recently signed a bill into law that effectively eliminates the practice of paying money to get out of jail before trial. The move has sent reverberations through the state's bail industry. 

Let's talk about college debt

Sep 27, 2018

(Markets Edition) The Federal Reserve announced a raise in interest rates yesterday. We review Federal Reserve chair Jerome Powell's speech on the limits of the central bank in steering the American economy. Also, a new study finds that student debt is widening the wealth gap between black and white households. We look at the ways in which borrowing and support for borrowing, differs between black and white college students and grads. And for students heading to college, the Free Application for Federal Student Aid opens on Oct. 1.

California did away with bail. Who's next?

Sep 27, 2018

(U.S. Edition) As expected, the Federal Reserve raised its benchmark rate Wednesday, keeping up with a trend of gradual rate increases after steep drops during the financial crisis. In world news, the head of the International Monetary Fund agreed to increase a loan package to Argentina as its form of currency, the peso, continues to underperform.

Italy budget: Big promises, big debt

Sep 27, 2018

(Global Edition) From the BBC World Service ... Italy's new government will be releasing its first budget Thursday. But how realistic is it to offer every citizen a guaranteed basic income when your country's debt is so high? Investment behemoth Goldman Sachs begins its Europe expansion by offering retail banking in the U.K. And as old trading relationships break up, we look at one successful trading model between Israel and Britain that's so successful it's being replicated worldwide.

Beth Kobliner on having the "talk" with your kids about the cost of college

Sep 27, 2018

There are many talks parents have with children: about doing well in school, making good life decisions, sex, how much to spend on that first car. Yet when it comes to the cost of college, it seems the money discussion isn't one moms and dads are so ready to have with their kids. Or sometimes each other. 

Open letter to Apple: It’s time to turn iMessage into a social network.

Earlier this week, the founders of Instagram up and left Facebook five years after Facebook bought their company. But quitting isn't so easy for the rest of us. Facebook has our friends, our pictures and our snarky comments. It's why there are so few real competitors. And if you switch to a smaller social network, it's pretty lonely. But earlier this year, Microsoft, Facebook, Google and Twitter announced a project to make it easier to move your personal information between services. That data portability is just what it sounds like — creating the option for users to move on.

Earlier this week, the founders of Instagram up and left Facebook five years after Facebook bought their company. But quitting isn't so easy for the rest of us. Facebook has our friends, our pictures and our snarky comments. It's why there are so few real competitors. And if you switch to a smaller social network, it's pretty lonely. But earlier this year, Microsoft, Facebook, Google and Twitter announced a project to make it easier to move your personal information between services. That data portability is just what it sounds like — creating the option for users to move on.

In any workplace, there are many things to consider: Who gets promoted and when? What are the steps to creating a diverse work environment? How should grievances be handled?

Right now, these questions are playing out in Congress as the Senate Judiciary Committee addresses allegations of sexual misconduct against U.S. Supreme Court nominee Brett Kavanaugh.

Tight budgets strain 911 call centers

Sep 26, 2018

Marilyn Scott is a retired police officer and 911 call taker for city of Little Rock, Arkansas. She sits in a large room of desks that are mostly empty in front of four computer monitors that show her emergency call information. She takes a call.

“Little Rock 911, what’s the address of your emergency? Ma’am, it was doing what? Ma’am, I’m sorry, you’re pulling the phone away from your mouth. I can’t hear you,” she told the caller.  

Want to know the nitty-gritty on tariffs? Ask a customs broker

Sep 26, 2018

We've been talking a lot about tariffs in the last several months and trying to answer your questions while we're at it. In doing so, we've reached out to a lot of people whose day-to-day jobs have been shaped by the rounds of tariffs, the latest of which went into effect this week on more than 5,000 Chinese products.

My Economy tells the story of the new economic normal through the eyes of people trying to make it, because we know the only numbers that really matter are the ones in your economy.

The Federal Reserve has voted to raise its benchmark interest rate for the third time this year, fueled by a strong economy.

The central bank decided to raise its short-term rate by a quarter point to a range of 2 percent to 2.25 percent and has indicated plans for another rate hike by the end of the year.

While the aim of these hikes is to cool down the economy, consumers might also feel their effects.

Gordon Liu, a 28-year-old office worker in Hong Kong, dashes to a Chinese medicine clinic after work to get acupuncture for his shoulder and neck pain. Liu goes inside a large cubicle curtained off for privacy. He takes off his shirt, lies face down on a bed and an acupuncturist puts needles in points near his shoulders, neck and hands, leaving them in for about 20 minutes.

“Now it feels like my neck and shoulders are more moveable, like they’ve loosened up,” he says.

How employee training has suffered in the wake of the 2008 financial crisis

Sep 26, 2018

Throughout 2018, Marketplace's series Divided Decade is exploring how the financial crisis continues to play out ten years later. There are the obvious ways, such as housing, investments and attitudes towards money. There's another, less discussed impact: the decline of training programs for American workers.

What I learned from my grandmother’s hands

Sep 26, 2018

It is hard for me to feel connected to my heritage in everyday life. My eyes see a different landscape, my tongue is used to a different language and my hands are familiar with a different kind of work.

My parents are from Huai’an, a city of 5 million in Jiangsu province, eastern-central China. China is one of the oldest civilizations in the world, with thousands of years of history, culture, art and great empires.

(Markets Edition) The Federal Reserve is likely raising its target for short-term interest rates, but Fed chair Jay Powell is also expected to speak out about the future of the economy. We talked to an economist of our own for more. Then, we look back at how the financial crisis of 10 years ago affected the aspect of training — specifically, how companies had to roll it back when the economy tanked. Also, you might have heard that Dunkin’ Donuts is actually dropping the “Donuts” part of the name. However, it's coffee that's at the heart – or hole – of this story.

Singer and student Zere Asylbek wrote a feminist song and produced a video that's provoked ire in many Kyrgyz. They're mad at the clothes she wears in the video — a lacy bra underneath a blazer — and mad about the lyrics, which advocate independence for women. 

When North and South Korean leaders recently held their third summit in Pyongyang, Kim Jong-un’s nuclear weapons weren’t the only items on the table.

Eviction is considered one of the biggest risk factors for homelessness. It can be the first step in a downward spiral for those with few resources living in expensive cities. But in many cities, like Los Angeles, only a fraction of residents facing eviction can avail themselves of free legal help. Voters in San Francisco recently approved a ballot measure to set aside $5.6 million a year to offer legal counsel to anybody facing eviction. New York has a similar program.

Who's going to pay for 5G?

Sep 26, 2018

The rollout of 5G service marks a new era in wireless communications, with fast internet speeds expected to spur on advances like driverless cars and remote surgeries. The demand will be high, and the Federal Communications Commission is seeking to limit the municipal fees that wireless companies must pay to install their new 5G antennas. While many urban areas face a loss of revenue under the new rule, underserved communities may find the digital divide has grown even larger.

(Global Edition) From the BBC World Service ... The world's biggest biometric data scheme gets a legal green light, but private firms are excluded from using data gathered by India's national ID cards. Online ticket re-sales form a massive industry – we speak to victims of re-sale scams and find out how it dents the long-term survival of the music industry. Also, a Harry Potter-themed bar pops up in London to attract millennials.