The Commerce Department today reported a strong comeback in retail sales in January. This comes after declining a month earlier as omicron spread. January sales were up nearly 4% compared to December. Helping us read into what this means is Susan Schmidt. We speak with the BBC’s Victoria Craig about the European Union potentially wielding the power of the purse against member countries it sees as going against democratic values.

Marketplace Morning Report

Call it a comeback for retail sales in January

From the BBC World Service: As NATO defense ministers gather in Brussels to talk about escalating geopolitical tensions, we take you to Singapore where Russia and Ukraine are also top of mind. Plus, what a landmark ruling from Europe’s top court means for critical funding.

Russia, Ukraine friction steals attention at defense-focused Singapore Airshow

According to a study published this week in the journal Nature Climate Change, the Southwest is experiencing the worst drought the region has experienced in at least 1,200 years, and it’s been especially hard on farmers and ranchers. Families of some of the Sandy Hook Elementary School shooting victims have reached a $73 million settlement in a lawsuit against bankrupt gunmaker Remington. The BBC reports on a basic income scheme for young people leaving care in Wales.

The Southwest is the driest it’s been in more than a millennium

The Pentagon is worried about the number of companies it has to choose from to buy everything from missiles to batteries. It’s out with a new report, prompted by President Biden’s executive order last year, directing federal agencies to figure out how to increase competition. Stifel’s Lindsey Piegza joins us to discuss prices at the wholesale level during our talk about the markets. We explore how price gouging inquiries during the pandemic have led to friction in the traveling nurse space.

Pentagon aims for more competition among suppliers

From paper to bus fuel to driveway-clearing salt, costs for items essential to the functions of school districts have gone up. In some cases, the pressure is mounting for wages to rise as well. Vacation rentals remain popular with remote workers who like to come for the work and stay for everything else. The Senate Banking Committee prepares to vote on President Biden’s nominees for the Fed.

School districts brace for the impact of inflation

From the BBC World Service: The European Union’s foreign affairs chief Josep Borrell says Nord Stream 2 could be included in sanctions against Russia if it invades Ukraine. Plus, China introduces new rules for larger technology companies seeking to list their stock overseas. And, the number of robots being used in workplaces has jumped since the start of the pandemic, including in small and medium-sized companies.

How vital is the Nord Stream 2 pipeline to the Russian economy?

Well, it depends. For some jobs, wage hikes are actually outpacing price increases. But, overall, prices are rising faster. We dig into the data so you know where you stand. Plus, economist Julia Coronado joins the show to break down the latest in financial markets. And, a majority of the emergency housing vouchers approved by Congress to provide pandemic relief are unused. It’s because they don’t go far enough to cover high rent costs in the booming housing market.

Wages or prices: Which are rising faster?

This Valentine’s Day, inflation is also running red hot. Supply chain disruptions are a part of rising prices. And that goes for flowers, too. Also, a major trade route between the U.S. and Canada is open to traffic once again after police cleared out those protesting Canada’s COVID rules. Plus, consumers aren’t feeling very confident about the economy. How does that affect spending? And, markets around the world start the week down on fears of Russia invading Ukraine.

That last-minute Valentine’s Day bouquet won’t be cheap

From the BBC World Service: The economic impact for people in Ukraine is already becoming very real. Global stocks drop as the G-7 emphasizes it’s ready to impose harsh economic sanctions on Russia if it invades. Plus, voters in Switzerland say “no” to big tobacco, backing tighter restrictions on cigarette advertising. And, after protests over vaccine mandates, the busiest border crossing between Canada and the U.S. reopens.

What fears of a Russian invasion mean for Ukraine’s economy

The second part of our discussion with Ad Age’s Jeanine Poggi explores how this year’s Super Bowl commercials could reflect the diversity and inclusion efforts both in society and within the advertising industry itself. Christopher Low joins us for more talk about inflation’s effect on the markets.

This year’s Super Bowl ads could also send messages about diversity, inclusion

Super Bowl Sunday isn’t just about the game on the field, it’s also been of the biggest days of the year for advertising. What can we expect from this year’s crop of commercials during an era where topics ranging from NFTs to crypto to diversity can be tackled in a TV spot? We speak to Jeanine Poggi, an editor at Ad Age, for some of the answers. Canadian trucker protests are disrupting the supply chain, and various groups have urged the Canadian government to resolve the matter. We take a look at the effects of inflation when it comes to meat prices.

Into the metaverse of Super Bowl commercials

From the BBC World Service: Large-scale protests that began in Canada two weeks ago to oppose covid-vaccine mandates have now spread to cities across the globe. The question is, can they reach agreements with governments before causing more economic disruption? Plus: As the cost-of-living crisis continues, the Irish government steps up financial help to households. And, the ongoing row between Lithuania and Beijing deepens as China cuts off imports of beef, dairy, and beef from the Baltic nation.

Freedom Convoys go global, but at what economic cost?

The NFL’s grandest event, the Super Bowl, is mere days away, but the league is also getting attention for a different reason. Claims of racist hiring practices were brought by a lawsuit from former Miami Dolphins head coach Brian Flores. We look at what NFL teams have done since the lawsuit, and the dynamic that exists within the league when it comes to hiring people of color. Trucker protests blocking the U.S.-Canada border have started to disrupt the whole North American auto industry. Diane Swonk highlights inflation hitting an even higher level during our discussion about the markets.

Claims of racism hang over NFL as Super Bowl weekend approaches

A new report from the McKinsey Global Institute says the transition to net zero by mid-century would require over $9 trillion in annual spending and epic change in the global economy. We spoke to Mekala Krishnan, the lead author of the report and a partner at McKinsey, about the challenges the transition can bring. For the first time, a Federal Reserve bank will be led by a Black woman. The Federal Reserve Bank of Boston announced Tuesday that economist Susan Collins will take over on July 1. 

The journey to reach net-zero global emissions by 2050 begins with a trillion-dollar step

From the BBC World Service: U.S. inflation is expected to hit a near four-decade high. The pain Americans are feeling in their pocketbooks is one people the world over are grappling with. Plus: the Philippines reopens to vaccinated, COVID-negative travelers. And, we’re keeping an eye on how the Freedom Convoy’s movement is spreading across the globe.

Inflation isn’t just an American problem

“Marketplace Morning Report,” hosted by David Brancaccio, is the business news you need to know to start your day. “Marketplace Morning Report” gets you up to speed on what you missed when you were sleeping, kicking off each weekday with a global business update from the BBC World Service in London.

hubhopper

Marketplace Morning Report

hubhopper