In less than 10 minutes, we’ll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace’s David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you’ll get a global markets update from the BBC World Service in London.
Deadlines tied to billions – and trillions – are closing in on Congress
Lawmakers in Washington face a number of crucial deadlines in the coming days denominated in hundreds of billions and trillions. There’s funding for the Biden infrastructure plan, plus the feds running out of money and the ability to borrow. Nova Safo joins us with more details. Then we head to Germany, where elections for the next chancellor are taking place. The BBC checks in with the local business climate there to see where business owners stand on some of the issues that could affect them.
Monoclonal antibody treatments help with COVID-19, but not without a cost
On the COVID-19 front, monoclonal antibody treatments have increased in both supply and demand, but there are plenty of costs to consider. Getting treatment can not only get pricey, but it can also thin out resources. There’s also the question of availability. In China, property giant Evergrande is about $300 billion in debt, and the deadline to address that debt has come and gone. Is it possible that a bailout could be in the works? There’s been plenty of regulation in store for food delivery apps focused on worker protections, but there are questions about how the app companies might change under this climate.
Germany heads to the polls
US central bank poised to ease up on economic stimulus this fall
There are strong signals that the Federal Reserve could be lowering the setting on economic stimulus later in the fall. Nancy Marshall-Genzer shares details on what the Fed might have planned. The White House is holding another meeting today with representatives of major companies to try to find solutions to the semiconductor chip shortage. The Evergrande debt saga in China is providing a few harsh lessons to be learned for the rest of the world, as Diane Swonk notes in our markets discussion. Speaking of lessons, what have we learned from the Enron scandal 20 years ago? We try to find answers with Bethany McLean, who covered Enron for Fortune.
A look back the Enron scandal after nearly 20 years
It was 20 years ago next month that energy giant Enron — then the seventh-largest company in the U.S. — collapsed, resulting in historic layoffs and ravaging retirement savings accounts. We speak with Bethany McLean, a financial reporter who covered Enron for Fortune, about whether or not punishment for white-collar crime is still a real thing after all these years. There’s more to discuss regarding the Fed, and the upcoming holiday shopping season does not seem to mean good cheer for FedEx and other companies dealing with the national labor shortage.
Boeing will build its first overseas factory in Australia
From the BBC World Service: American aerospace giant Boeing has announced that it will build its first factory outside the U.S. in Australia. It will produce unmanned military drones and is expected to create 3,500 jobs by 2028. India is second in the world for coal consumption, but it has set ambitious renewable energy targets. Is it ready to wean itself off of coal?