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Hoping to escape Hong Kong's summer temperatures, more people are settling into the city's numerous 24-hour McDonald's restaurants to soak in the air conditioning and get a decent night's sleep.

A new survey finds that the number of "McRefugees" or "McSleepers" — as they've been dubbed — has increased sixfold in the past five years.

Pepsi CEO Steps Down After 12 Years

Aug 6, 2018

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The Trump Administration has been throwing out old trade agreements and putting new tariffs in place. But at the same time, other countries have been re-negotiating their agreements, too, going around the US to hammer out free trade deals. The European Union has been particularly successful, pushing a trade agenda that the US has been resisting for decades. And there's one corner of the economy where things have been particularly explosive: cheese.

Movie theater subscription service MoviePass will not be raising prices, as it had announced last week, but will instead be capping the number of times that subscribers can visit movie theaters.

For $9.95 per month, MoviePass subscribers used to be able to see a movie in theaters every day, if they so chose. Beginning on August 15, the service will instead provide three movies per month.

The Real Estate We're In

Aug 6, 2018

Home prices and rents are skyrocketing, especially in urban areas. Wages are stagnating.

“The national median rent [rose] 20 percent faster than overall inflation in 1990–2016 and the median home price 41 percent faster,” according to the State of the Nation’s Housing report, produced by the Joint Center for Housing Studies at Harvard University.

Changing Autos, Changing Climate

Aug 6, 2018

The Trump administration wants to relax fuel efficiency standards. But some states are fighting back.

From Reuters.

Indra Nooyi of PepsiCo has announced that she is stepping aside as CEO after some 12 years at the helm.

Nooyi plans to stay on as chairman until early 2019. The company's board announced Monday that it elected Ramon Laguarta, president of the company since 2017, to succeed her as CEO. PepsiCo prides itself on tapping its leadership from within — every other chief executive has come from its own ranks.

Ten years after the housing collapse during the Great Recession, a new and different housing crisis has emerged.

Back then, people were losing their homes as home values crashed and homeowners went underwater. Today, home values have rebounded, but people who want to buy a new home are often priced out of the market. There are too few homes and too many potential buyers.

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Hawaii's Kilauea volcano has been spewing lava since early May. No way to know whether the lava will stop tomorrow or continue for years to come. Many businesses are struggling with the uncertainty. Reporter Alex Schmidt has this from the Big Island of Hawaii.

It's been well-documented in recent years that minor league baseball players don't exactly share in the riches of the game. Most minor leaguers make an estimated $7,500 for a year. Major league players average more than $4 million.

Five labor market indicators, one minute each. They are:

1) This year, the average number of jobs added to the economy each month has been 215,000, an increase on last year's average of 182,000.

2) The share of adults between the ages of 25 and 54 with a job is now 79.5 percent.

3) The manufacturing sector has added 327,000 jobs in the past year, which represents a faster pace of job creation than the overall economy — a reversal of the trend from a few years ago.

4) The unemployment rate for high school graduates with no college experience has fallen to 4%.

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There's been a lot of good economic news lately, something that President Trump isn't shy about pointing out.

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A federal judge has dismissed a pair of lawsuits against the Fox News Channel over its coverage in May 2017 of the killing of a young Democratic Party aide named Seth Rich that had to be retracted just days later.

When Jorge Lara's father opened a bakery in the tiny South Texas town of Raymondville in 1963, the city boasted three theaters, dozens of restaurants and a bustling main street. The cotton fields that cover the county raked in profit. Jobs were plentiful.

More than 50 years later, Lara's Bakery is one of the few businesses left downtown. Each morning, employees fill the glass cases with glazed doughnuts and Mexican pastries like pan dulce and pumpkin empanadas.

It was 1981.

A new Republican president with a background in the entertainment business was trying to jump-start the U.S. economy out of a brutal recession.

The president pushed tax cuts.

Then his administration had to come up with a plan to deal with trade. America's auto industry was suffering, as new competition came in from Japan.

What the Reagan administration did about it has shaped the auto industry we see today in America. And it could serve as an example for the Trump administration in its ongoing, rancorous trade battles.

NASA has announced the names of the astronauts who will be the first people in history to ride to orbit in private space taxis next year, if all goes as planned.

One week away from the release date of Madden NFL 19, some folks have already picked up an early copy of the perennial gaming powerhouse. And as they perused the video game's menu, at least one user heard something a little bit off.

During a song on the soundtrack, YG's "Big Bank," Big Sean's guest verse goes quiet for a second or two — just as one may expect of a track edited for a game with a wide audience, censoring obscenities for the sake of young listeners.

Updated at 1:45 p.m. ET

China has announced a plan to impose new tariffs on $60 billion of American goods, in retaliation for the latest tariff threats from the Trump administration.

Earlier this week, the White House said it was considering boosting tariffs on $200 billion worth of Chinese goods, raising those tariffs to 25 percent from 10 percent. That particular set of tariffs has not yet taken effect.

Morning News Brief

Aug 3, 2018

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White House officials came out yesterday, and they showed a rare unified front. They said they're focused on preventing interference in U.S. elections.

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Yeah. Here's how Director of National Intelligence Dan Coats put it.

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On a muggy morning this week, a group of bankers and investment managers met at The Hay-Adams Hotel in Washington, D.C. They got an update from the Treasury Department about government cash flows and, according to minutes of the meeting, the picture wasn't pretty.

Corporate tax receipts are down for the year, while government spending is up. Even with a fast-growing economy, the Treasury Department expects to borrow more than $750 billion to pay its bills during the last six months of this year.

Updated at 9:08 a.m. ET

The economy continued to add jobs at a steady pace last month, and the unemployment rate remained low. Analysts have been looking for signs that wage growth might pick up, but it held steady, too.

Payrolls grew by a lower-than-expected 157,000 in July, and the unemployment rate edged down to 3.9 percent, as projected, the Labor Department said Friday.

In recent decades, income inequality in the United States has been climbing. Scholars and pundits argue about what causes the trend and how problematic it is, but they largely agree that it has happened.

But has the rise in income inequality between rich and poor also been accompanied by a widening cultural distance between the two groups? A new working paper from Marianne Bertrand and Emir Kamenica investigates the question. And its approach to answering it is amost as interesting as what it found. On today's show, we discuss it with Emir.

Brookstone Co. Inc. has filed for bankruptcy for the second time.

The retailer — known for massage chairs and other gadgets — announced Thursday that it will be shutting down about 100 of its mall locations with hopes of selling its remaining assets, according to the filing document.

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Google was once criticized for running a censored version of its search engine in China, at one point being taken to task by lawmakers in hearings on Capitol Hill. Here's tape from New Jersey Representative Chris Smith in 2006.

Mental Illness: [Enter Stage Right]

Aug 2, 2018

With guest host Celeste Headlee.

In “Dear Evan Hansen,” the hit Broadway musical, we see a main character who struggles with severe social anxiety. “Fun Home,” another Tony Award-winner, digs deep into paralyzing depression.

Musicals about mental illness are a lucrative artistic trend in theatre. And these productions are breaking new ground with their honest, entertaining portrayals of disorders that 1 in 5 Americans live with.

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