Latest from Jo Critcher

• Jan 23, 2023

  ‘Tis the season — for taxes

  

  The holiday season may be over, but another “season” is now upon us — the one to pay your taxes. The IRS’s window to submit tax returns is open from now until around April 15 for most people, and the agency is promising better service than in recent years when it experienced crippling delays. Renters nowadays are having to spend higher and higher proportions of their income on housing, which takes away from spending in other areas. And, some of the Federal Reserve’s highest-profile figures are publicly disagreeing about how much to hike interest rates in the near future. 

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• Jan 23, 2023

  Could a South American common currency rival the dollar?

  

  From the BBC World Service: We examine why Brazil and Argentina are exploring a common currency. Both countries have been wracked by economic demons – with Argentina in particular suffering one of the highest inflation rates in world. Plus, why Pakistan is facing power cuts. And we meet the Hongkongers celebrating Lunar New Year in the U.K.

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• Jan 20, 2023

  For most, owning a place is now pricier than renting

  

  A big swing in the housing market occurred over the last year: for the vast majority of people, it’s now cheaper to rent a place than to own it. According to a new report, that’s in big part due to rising mortgage rates, which have risen in tandem with the Fed’s rate hikes. Netflix’s CEO, Reed Hastings, is stepping down — he helped transform the company from a mail-order DVD service to a streaming behemoth. Christopher Low helps break down what’s behind the recent strength of bond yields. And, the Sundance Film Festival is back in person after two years of being virtual because of the pandemic. 

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• Jan 20, 2023

  College rankings under fire again, this time from Harvard Medical School

  

  Harvard Medical School, one of the top in the country, will stop submitting data to the U.S. News and World Report college ranking system. It’s another blow for the rankings, which has recently come under criticism from a number of high-profile schools for alleged flaws in the methodology. Alphabet, the parent company of Google, announced that it would lay off 12,000 workers, making it the latest tech giant to announce job cuts. And, the high-flying Davos summit wraps up today amid a mix of optimism and caution for coming year. 

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• Jan 20, 2023

  Digging for coal has to stop, says German activist

  

  From the BBC World Service: The fight over a controversial coal mine in Germany isn’t over according to one of the country’s best-known climate activists Luisa Neubauer. She tells us how mining cannot be justified, even in the context of an energy crisis in Europe triggered by Russia’s war with Ukraine. Plus, the demise of British Volt, once the UK’s great hope for the future of the auto industry. And millions are on the move in Asia for the Lunar New Year.

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• Jan 19, 2023

  More bad news for the beleaguered housing market

  

  There’s more bad news out this morning for the embattled housing sector. Housing starts, the metric used to measure the number of new homes being constructed in the U.S., fell for a fourth consecutive month. KPMG Chief Economist Diane Swonk helps us break down what the data means for the wider economy. And, Treasury Janet Yellen said that her department would take “extraordinary measures” to keep the U.S. government paying its debts as Congress mulls increasing the debt ceiling. And, a story about how a $30 million philanthropic donation to start an Illinois addiction treatment center played out when staffers had to actually run the place.

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• Jan 19, 2023

  Buckle up, the debt ceiling fight is just beginning

  

  It’s estimated that the U.S. government will hit the Congressionally-mandated debt ceiling today, meaning it will have to find ways to shuffle funds around until Congress raises the limit. Lawmakers are gearing up for a protracted fight on Capitol Hill. Recent data from the Federal Reserve Bank of New York show that inflation is hitting low-income households, especially those that are Black and Latino, the hardest. And, amid unease following the collapse of FTX, crypto miners are being squeezed by high energy costs and lower prices for cryptocurrencies. 

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• Jan 19, 2023

  French workers walk out

  

  From the BBC World Service: France faces a day of national strikes as President Macron’s retirement reforms divide the country. The plans, which include pushing the country’s retirement age up to 64, are facing major pushback from unions. Also, how carbon can be captured from the atmosphere. And, Pakistan’s former president thinks he can solve the country’s economic crisis.

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• Jan 18, 2023

  Lots of consumers said “No thanks” to buying a car in 2022

  

  Consumers seemingly couldn’t buy enough cars during the peak of the pandemic, but recent data shows that the auto industry saw widespread declines in vehicle sales last year. We delve into what drove the decline and what car sellers are doing to adjust. Lower vehicle sales also contributed to an overall decline in retail sales in December — a good sign for investors, says Susan Schmidt. But that may not be the case for others — we checked in with a number of small businesses to see how they’re faring. And, the BBC’s Ruth Alexander reports on the global rise in egg prices. 

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• Jan 18, 2023

  Millennials are buying more and more homes

  

  A big change in the housing market is happening — young people aged 25 to 34 are making up a bigger and bigger proportion of homeowners. A new analysis from Harvard’s Joint Center for Housing Studies says millennials, a group that has traditionally faced difficulties with high home prices, are making inroads as they age and start families. Global demand for oil will reach a new record this year, according to the International Energy Agency. And, the Bank of Japan again declined to raise interest rates, bucking expectations and continuing the country’s policy of ultra-loose monetary policy that has kept rates near zero for years. 

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