“Marketplace Morning Report,” hosted by David Brancaccio, is the business news you need to know to start your day. “Marketplace Morning Report” gets you up to speed on what you missed when you were sleeping, kicking off each weekday with a global business update from the BBC World Service in London.
01-16-2015- Marketplace Morning - The view from Ohio
Airing on Friday, January 16, 2015: Players in financial markets and some homeowners in Europe feel like they just got mugged by Switzerland. More on that. Plus, there's news the oil services company Schlumberger will cut 9000 jobs. But to bring this right down to an even more intimate level, let's turn to the town of Lorain, Ohio, west of Cleveland. Once economically distressed, jobs poured in at the U.S. steel plant in Lorain, to make pipes for domestic shale oil production. Now that crude oil is trading at less than half the price it was in June, there's word that more than 600 workers (nearly everyone) at the plant will lose their jobs.