Marketplace Morning Report

A new $7.4 billion settlement with states has been reached with Purdue Pharma and its Sackler family owners to settle lawsuits alleging that their drug OxyContin helped fuel the opioid crisis — but it still has to be approved by a U.S. Bankruptcy Court. We’ll learn more about all the deal entails. Then, we’ll discuss mortgage rates, job creation and immigration. And after, as Congress struggles with tech legislation, states aim to regulate online privacy

President Donald Trump and First Lady Melania Trump launched meme coins of themselves just before the inauguration, which have made them billions — at least on paper, for now. While some in the crypto industry are happy over the attention it’s drawing to digital currencies, others are upset. Also on the program: a Chevron deference-free world in the Trump era and a question over federal aid to Southern California amid the wildfire emergency.

From the BBC World Service: Many hope that by increasing interest rates to 0.5%, the Bank of Japan might help spur growth for the world’s fourth-largest economy. Then, following U.S. President Donald Trump’s address at the World Economic Forum in Davos, the U.K. government says it should be excluded from tariffs on exports to America. And later, we hear from a company working to make rice production more sustainable.

A lot has come out of the new Trump administration in its first week, including a change of course coming at the Securities and Exchange Commission over how it deals with cryptocurrency. Now in charge of that shift is Hester Peirce, whom the crypto industry has affectionately dubbed “Crypto Mom.” We’ll hear more. Plus, a writer reflects on what it was like to work at a grocery store during peak of the pandemic.

Sadly, we’re not talking about hot air balloons or superheroes. Today, we’re talking about home prices, which went up in every major metro area around the country in December for the first time since 2022. Another thing that’s gone sky-high? The price of eggs, which is causing some businesses to crack. We’ll also hear about some of the human reporting behind Watch Duty, an app that’s proven helpful in spreading information amid LA’s fires.

From the BBC World Service: As the United Kingdom seeks to “reset” its relationship with the European Union, the bloc’s new trade chief, Maroš Šefčovič, has suggested a new customs arrangement could lessen trade burdens. Also, as Europe shifts away from coal power, solar power is booming as an energy source. And later, Saudi Arabia is embracing the film industry. We’ll discuss some of the economics and complications.

Emergency declarations provide the government extra authority to take actions. President Donald Trump has said he will declare a national energy emergency — something no other president has declared and something designed to streamline permitting, weaken regulation and cut gas prices. Also on the program: Investors pick up on what tariffs could possibly mean, and there are more questions than answers about the announcement of a huge server farm upgrade.

Officials are currently focusing on cleanup and housing efforts for tens of thousands of people in the wake of LA’s fires. But over the next few years, the focus will shift toward rebuilding, Yet those efforts will face shortages of skilled labor and building materials, as well as expensive construction loans. Also, we’ll discuss the fallout of President Donald Trump’s pullout of the World Health Organization and moves to shut down DEI efforts.

From the BBC World Service: For decades, the two multinational giants Coca-Cola and PepsiCo have been competing for Indian consumers. But now they face competition from a brand launched by Asia’s richest man. Plus, the chair of a British antitrust regulation agency is out as the United Kingdom goes for growth. And, a Dutch court has ordered the government to drastically cut nitrogen emissions in the Netherlands.

This morning, we’re continuing to discuss the start of President Donald Trump’s second term. Trump is set to meet with Republican Congressional leaders today as they map out his legislative agenda, and he’s already issued a wide-ranging series of executive orders. We’ll dig in and hear how bond markets are responding. Also: A new lending program helps Texans brace for extreme weather. And, can improv help facilitate healthy dialogues?

Because yesterday wasn’t the day. Today, we’ll get to President Donald Trump’s executive orders right out of the gate. We’ll talk about what was included — including a hiring freeze on federal government workers — and what wasn’t. Plus, a national emergency on energy is meant to increase energy production, global economic leaders meet in Switzerland, and consumers continue to spend a lot but with a political divide.

From the BBC World Service: As President Donald Trump begins his second term in office, he’s been talking tariffs — but for not for China, as many expected. Overall market impacts have been relatively muted, though cryptocurrencies have rallied. Meanwhile, there’s been mixed responses to Trump’s return to power among Davos attendees. And later, the cost of living has overtaken the issue of climate change as the No. 1 issue among young Australians.

A new administration enters the White House this afternoon. Today, we’ll hear Scott Bessent, President-elect Donald Trump’s pick for Treasury Secretary, outline his economic thesis for the four years ahead, then hear how Minnesota Lieutenant Governor Peggy Flanagan is bracing for conservative policies and viewing the role of reproductive rights in women’s economic lives. Also on the show: We’ll head to the ice, where North America’s National Hockey League is breaking records for viewers and revenue.

Donald Trump starts his second term as president today. But even if Inauguration Day events are largely relegated to Washington D.C., discussion of Trump’s second presidency — and politics more broadly — are likely to pop up just about anywhere, including at work. So how these conversations and political tensions be handled in the workplace? We’ll discuss. Then, scammers are spreading misinformation as people look to help those affected by the Los Angeles fires.

From the BBC World Service: Let’s talk about the billionaire boom. Billionaire wealth surged by a staggering $2 trillion last year. That’s three times faster than the year before, according to a new report from Oxfam – which was just released as world leaders and business elites gather for the World Economic Forum in Davos, Switzerland. We’ll unpack. Plus, TikTok is back after a weekend of uncertainty.

California officials and insurance representatives are holding workshops starting this weekend to help people deal with their insurance companies amid the fires. It’s a complex system. Today, we’ll have a conversation with California Insurance Commissioner Ricardo Lara about gaps in insurance and what the road to recovery looks like from here. Plus, a new World Bank report shows that economic growth among developing countries is slowing. We’ll unpack the reasons why.

From a new so-called Department of Government Efficiency to an incoming Republican Congress, deep cuts to the federal government are promised this year. Among areas to be reviewed are Medicaid and Medicare. But that spending is popular among voters — Republicans and Democrat alike, according to a new poll from the health research organization KFF. But first, California officials are launching a new effort to help people navigate the insurance maze this weekend.

From the BBC World Service: China’s economy grew by 5% last year, beating expectations. This growth was driven by the country’s manufacturing sector, with those goods mainly heading to foreign markets. But China is still struggling to shake off a protracted property crisis, high local government debt and youth unemployment. We’ll discuss. And later on the program, we’ll hear about the economics and history of Italy’s traveling troubadours.

“We already felt like we’re being priced out,” said Claire Contreras, a teacher who lost her Altadena apartment to a fire. “All of this just kind of puts a big question mark on our long-term ability to even stay in LA.” Today, we’ll hear Contreras reflect on reentering the rental market at a time when thousands of others are also seeking longer-term shelter. Also: a look at competition for U.S. seasonal work visas in Guatemala.

TikTok is set for a U.S. cut-off on Sunday. The short video social media app has more than 170 million American users, some of whom are turning to alternative apps like RedNote. But those alternatives have their own shortcomings. Plus, with news of a ceasefire deal that could end the Israel-Hamas war, we’ll dig into what — and how pricey — rebuilding could look like. And later: Texas looks likely to pass school voucher legislation.