Economy & Business

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LinkedIn's co-founder breaks down "blitzscaling"

Oct 10, 2018

(U.S. Edition) We check in on the decline of the yuan, the national currency of China. Shaun Rein, the managing director of the China Market Research Group, told us more. A global summit on mental health concludes Wednesday in a bid to secure money and treatment comparable to other health issues. Worldwide, mental disorders cost governments almost $2.5M per year.

The LinkedIn co-founder on "Blitzscaling" a company while mitigating risk

Oct 10, 2018

“Don’t focus on early revenue, measuring your long-term value or your customers” might not be the advice a new entrepreneur would expect. But Reid Hoffman, co-founder of LinkedIn, says if your business idea is a worthy one, “don’t sweat it.” Just focus on getting big quickly.

(Global Edition) From the BBC World Service … A day after it downgraded its forecast for global growth next year, the International Monetary Fund is out with a new warning Wednesday about what it calls "dangerous undercurrents" threatening the world economy. Then, more than half a million people have been urged to evacuate their homes in the southeastern part of the U.S. as Hurricane Michael prepares to make landfall. That’s just weeks after storms ravaged Indonesia and the Carolinas.

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The next generation of wireless technology, 5G, could be a huge deal. The speed and the number of devices that can be connected could spawn new businesses we haven't even thought of yet. Last year chipmaker Qualcomm and tech research firm IHS Technology put out a report that said 5G could enable $12 trillion in economic output across the world by 2035 and add some 22 million jobs. The report compared 5G to electricity. Compare that to 4G, which, just in the U.S., contributed about half a trillion dollars to the economy in 2016.

Why the race to 5G is a bet on a multi-trillion dollar economic impact

Oct 10, 2018

The next generation of wireless technology, 5G, could be a huge deal. The speed — and the number of devices that can be connected — could spawn new businesses we haven't even thought of yet. Last year chipmaker Qualcomm and tech research firm IHS Technology put out a report that said 5G could enable $12 trillion in economic output across the world by 2035 and add some 22 million jobs. The report compared 5G to no less than ... electricity. Compare that to 4G, which, just in the U.S., contributed about half a trillion dollars to the economy in 2016.

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Duke Energy CEO on the future of energy

Oct 9, 2018

With the rush of technological change, evermore severe storms and the push for renewable energy sources, this is not the easiest time to run an energy company. Yet Lynn Good does just that, having taken over Duke Energy as CEO back in 2013. Duke is now one of the largest energy companies in the United States, with more than 7 million customers in the Midwest and Southeast.  

For Good, the biggest challenge in leading an energy company is thinking about the future and the speed at which the world is changing.

IMF forecasts slower global growth

Oct 9, 2018

The International Monetary Fund said Tuesday it's shaving off some of its earlier optimism about world economic growth over the next couple years. It has downgraded its growth forecast for this year from 3.9 percent to 3.7 percent, and for next year, the IMF has ticked the world's growth down from 2.7 percent to 2.5 percent. The forecast took some of the wind out of U.S. and Chinese economic expansion, too, saying both countries would grow more slowly than previously thought. So what could be dragging us down in a year's time?

It's been a year since the The New York Times ran an exposé alleging sexual harassment by Hollywood executive Harvey Weinstein. That led to an outpouring of allegations as others spoke out, leading to the downfall of many leaders and executives, including top news editors at NPR.

Who can you trust? How can you tell whether someone who borrows money from you will pay it back? In the U.S., we have a credit score to help make these calls. But in China, no such system exists.

So the government came up with its own equivalent: it will score peoples' trustworthiness using not just court and bank records, but also data from the online shopping companies. Today on the Indicator: China's social credit system and what it might mean for citizens.

R.I.P., Google Plus

Oct 9, 2018

We hardly used ye. Google is phasing out its social platform Google Plus after a massive data breach. We look at how this could affect Google’s business model. Also on today's show, the International Monetary Fund predicted in its global economic forecast that trade disputes and turbulent emerging markets will slow global economic growth. And, are electric scooters all that bad, or are they a sign of where our transportation system is headed? A report on the electric scooter craze from Los Angeles.

Credit card interest rates are rising

Oct 9, 2018

A report out today from Creditcards.com shows that credit card interest rates are on the rise. The average rate is just over 17 percent, up from about 16.15 percent this time last year and 15.22 percent in 2016.

The reason? The Federal Reserve has been hiking interest rates since 2015. That means banks have been paying more to borrow money, and they’re passing that cost on to their customers, including credit card borrowers, said Lucia Dunn, professor emeritus at Ohio State University.

Google plans to shutter its Google+ social network for consumers, citing its limited adoption with users. The tech giant announced the decision at the same time that it disclosed that the privacy of up to a half-million Google+ accounts could have been affected by a "bug."

The company says it discovered and patched the issue in March but decided not to disclose it immediately. It said it had no evidence that any third-party developer was aware of the bug or had misused profile data.

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