More than five years after the start of the pandemic, we’re learning more about who's working in person and who isn't. Labor Department data shows 29% of men work from home, down from 34% two years ago. But the number of women working remotely has stayed flat at 36%. We'll discuss what to make of the dynamic. Also: Wholesale inflation remains unchanged, and the White House launches an investigation into unfair trade practices by Brazil.
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Inflation outstripped wage growth last month
Real average hourly earnings fell in June. Just one month of data doesn't make a trend, but forces at work in both the labor market and inflation data could further eat into Americans' wages. We'll unpack. Then, President Donald Trump’s bill to claw back federal funding for foreign aid programs and public broadcasting could get a final vote in the Senate today. Plus, the Department of Defense is investing in a U.S.-based rare earth mining company.
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Britain's inflation keeps creeping up
From the BBC World Service: The annual inflation rate in the United Kingdom clocked in higher than expected in the month of June, at 3.6%. Much of inflation's stickiness there has to do with rising food and gasoline prices. Meanwhile, U.K. Chancellor Rachel Reeves announced steps to encourage people to invest in stocks and shares. Also on today's show: a look at why Cuba's labor minister has resigned and more tariff news for Indonesia and Brazil.
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What Texas stands to lose in a trade war with the EU
The Texas economy is among the most vulnerable in the country when it comes to the threat of escalating tariffs. While much of the focus has been on trade with Mexico due to tightly integrated supply chains, the future of European trade with Texas is also uncertain. We'll hear what's at stake. Plus, Nvidia can sell chips in China again, and, from Marketplace's "How We Survive," we'll learn what the big tax cut and spending law means for the climate crisis.
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US-EU trade ties under serious strain
From the BBC World Service: The European Union is looking further afield for trade agreements after weeks of testy talks with the U.S. We'll hear how European leaders are feeling and discuss the likelihood of any trade deals. Plus, China holds a powerful card in the global economy: control over rare earth minerals, used in everything from smartphones to wind turbines and electric cars. We travel to the country’s two biggest rare earth mining regions.
In less than 10 minutes, we'll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace's David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you'll get a global markets update from the BBC World Service in London.
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