Economy & Business

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President Obama is warning against financial and international "hysteria" in the wake of last week's vote by the United Kingdom to leave the European Union.

In Japan, the world's third largest economy, the Brexit means more bad news for a country already struggling with its finances.

Following the British vote to leave the European Union, the Japanese stock market on Friday saw the largest single day drop since the year 2000 (though it did rebound a bit on Monday).

Volkswagen agrees to $14.7 billion settlement

Jun 28, 2016

Volkswagen has agreed to pay $14.7 billion to settle with consumers who bought VW and Audi cars that had small diesel engines designed to cheat emissions tests. This covers 475,000 cars, mainly in the U.S., and grants VW owners with a useful option if they don't want VW to try to fix the cars — which could reduce the vehicle's performance. 

Click the above audio player to hear the full report. 

Brexit could be a goldmine for lawyers

Jun 28, 2016
Lane Wallace

News of Britain’s decision to leave the European Union has gone over pretty badly with a lot of global industries and markets. But there’s at least one industry where the whole thing might actually be a windfall: the legal industry.

Yep, your very favorite people are licking their chops right now — and by licking their chops, we mean fielding a bunch of panicky calls from clients.

Andy Uhler

Norway is not a member of the European Union. But through the European Economic Area Agreement and European Free Trade Association, it maintains a close trade relationship with the rest of the Continent. That relationship is key to its economy. But Fiona Hill, director of the Center on the United States and Europe at the Brookings Institution, said Norwegian officials she's spoken with don't think the relationship is all that favorable. 

The new buzzword in corporate earnings: Brexit

Jun 28, 2016
Amy Scott

The British-American cruise operator Carnival announced better-than-expected quarterly earnings Tuesday morning. It’s one of the first big global companies to report to investors since last week’s Brexit vote rocked the markets, and the company downplayed the potential impact on future earnings.

"Despite the geopolitical events in Europe, including the Brexit vote, we remain confident in our long-term outlook," Chief Executive Arnold Donald said in a conference call with analysts.

Marketplace Tech for Tuesday, June 28, 2016

Jun 28, 2016

On today's show, we'll talk about the effects of Brexit on London's startup scene; the rise in Bitcoin's value; and how some tech companies are trying to prevent online radicalization. 


 On today's show, we'll talk about Volkswagen's planned $14.7 billion payout over its emissions scandal; Norway's relationship with the European Union; and one industry that may be hugely benefiting from Brexit. 

British politics remained in upheaval Monday. The leading political parties are in a mess: Conservatives are rushing to replace their leader, Prime Minister David Cameron, and the opposition Labour Party is escalating pressure on its leader, Jeremy Corbyn, to step down. All the while, the United Kingdom lumbers toward starting the divorce talks with the European Union.

Meanwhile, the pound is still down, markets are shaky and Standard and Poors lowered another credit rating.

One of the country's leading poultry companies, Perdue Farms, announced plans Monday to make both life and death a little easier for its chickens.

The changes are a break with current standard practices in the industry, and animal welfare groups are cheering.

Jim Perdue, chairman of Perdue Farms, says there's a simple motivation behind the new initiative. Consumers, especially millennials, "want to make sure that animals are raised in as caring a way as possible. With the least stress, the least discomfort."

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Arthur Thomas / Biz Times

We know that Milwaukee’s manufacturing industry has changed greatly since the days when much of the big things in America were assembled here.  The transformation of the Menomonee Valley and the 35th Street corridor are both testaments to that shift.

But one hold-out from those days has been the industry that builds mining equipment. Two major companies employed a substantial workforce to do that job. But more recently, that industry has seen its fortunes erode as well, with jobs eliminated outright or moved elsewhere.

Nothing Says 'Hip' Like Ancient Wheat

Jun 27, 2016

Forget bold stripes and mule flats — could the next big fad be super-old wheat?

Consumer interest in healthy grains could sow the seeds for some long-forgotten bread wheats to make a comeback, according to an opinion article released Monday in Trends in Plant Science — presumably the Vogue of botany.

Americans' anxiety around the economy grows

Jun 27, 2016
Andrea Seabrook

Welcome to the post-Brexit world – a global economic outlook more uncertain than ever.

Brexit: Corporations read the fine print

Jun 27, 2016
Sally Herships

In the world of corporate contract law, Brexit isn’t actually that unusual.  That is, when it's considered as grounds for language,  meant to protect your firm, listed within the fine print of a corporate legal contract.