Economics & Economy

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.

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?

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 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.