Economy & Business

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Scammers are targeting retirement savings. Here's how to fight them.

18 hours ago

As we age, one of the things that sometimes gets lost in the mix is how we've handled our money. Did we save enough? What will our retirement be like? And if that's not enough, now add another worrisome element to the mix: retirement scammers. Con artists of all types are finding ways to sap the savings of aging retirees. Here to talk to us about what the government, the financial industry, and you can do about it is senior economics correspondent Chris Farrell. 

U.S. economic growth surged in the second quarter to 4.1 percent on an annualized basis. But that’s decidedly out of sync with the overall slow economic growth we’ve seen year after year since the Great Recession.

(U.S. Edition) The Turkish lira's precipitous drop has stopped, but that didn't stop the Turkish president from declaring that his country will boycott American smartphones. It's meant to be a message to the U.S., but no one's sure how this boycott is going to actually be enforced. Also, the Federal Reserve Bank of San Francisco has calculated that the financial crisis of a decade ago cost people tens of thousands of dollars right out of their pocket.

The "creator" economy is made up of platforms, social media, and marketing dollars. But the people driving that economy, of course, are those who upload and share their music, comedy, photographs, and videos. Some of those creators can make a living at it, but most of them don't.

(Global Edition) From the BBC World Service…Turkey’s currency is seeing a pop higher today as the country’s president calls for a boycott on U.S. electronic goods – further straining economic relations with America. We’ll explore what that means for the ongoing financial problems in Turkey. Then, Venezuelan president Nicolas Maduro said fuel prices in his country will rise to international levels, ending the government’s policy of gas subsidies – but what do higher prices mean for people who are already suffering from sky-high inflation and a troubled economic picture?

The “creator” economy is made up of companies that host platforms, of social media, of marketing dollars, and of course, the talent uploading and sharing their music, comedy, photographs, and videos. Some of those creators make a living, but most of them don't. Gaby Dunn knows first-hand the emotional rollercoaster of the creator economy; of never being sure if her videos or other work will pay off by the time rent is due. And that's despite being a proven online success.

Seven-year-old Aviana Conyers bounces around the bustling back-to-school aisles of a Walmart Supercenter. She grabs her second-grade supply list from her mother, Andrea.

"Mama, do you have any pencils in your bag?" Aviana asks, eager to cross off items on the list.

In Germany, beer consumption is up as temperatures remain unusually high. This is good and bad news for the beer industry.

While the breweries have more than enough beer to go around, they're running out of bottles because customers are not returning their empties quickly enough.

Germans care about the environment about as much as their beer; that's why the glass bottles are recycled. Customers pay a small deposit on each one, which they get back when they return it to a store.

In the marble halls of Mumbai's Kokilaben Dhirubhai Ambani Hospital, patients are greeted by chandeliers and floor-to-ceiling French windows.

There are autism and Alzheimer's clinics, genetic testing, clinical trials of new drugs and private rooms. Spinal injuries are treated in a special robotics rehabilitation unit, where patients are hooked up to robots to exercise their limbs.

And visitors can grab a Starbucks latte in the lobby.

It’s been a rough day for Monsanto, the maker of the weedkiller Roundup. On Friday a jury awarded a California groundskeeper $289.2 million, concluding that exposure to Roundup caused his cancer. On Monday stock in Bayer, the company that acquired Monsanto earlier this year, tumbled 10 percent.

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Turkey’s new debt problem

Aug 13, 2018

Turkey’s currency fell to a new record low today. Year to date it’s lost almost half its value, leading some investors and lenders inside and outside of Turkey to lose confidence in the Turkish economy. 

Turkey's currency is in a bad way.

That much is evident from the past week, which has seen the lira tumble in value at a breakneck pace. It has dropped more than 40 percent against the U.S. dollar on the year, with much of that plunge unfolding since the start of August. Before a modest rally early Monday, a single dollar bought about 7.2 lira — a grim new record for Turkey.

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Picture a professor in a tweed jacket lecturing about Aeschylus. Are you laughing out loud?

Likely not, but Julie Schumacher is a genius at finding the amusement in academia. Schumacher is the author of two hilarious novels about faculty life on campus: "Dear Committee Members" and this year's sequel, "The Shakespeare Requirement."

Katy Waldman reviewed Schumacher's latest book for The New Yorker.