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tv   Nightly Business Report  PBS  August 4, 2016 1:00am-1:31am PDT

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this is nightly business report with tyler mathson and sue herera. t expected. hiring. but will low skilled workers be the ones to power economic growth? lo. oil near $40 a barrel, energy companies are dealing with some familiar challenges. companies iing in monitor closely what yo those stories and more tonight on nightly business report for good evening, everyone. >> welcome, everybody. well, the dow sthaps its seven-day losing streak. more on that in moment, but we begin at the intersection of
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that would be the job market, which has been one of the most vibrant parts, most successful parts of the economy. today, we learned that private firms across is country continue to create jobs at a quite healthy pace. the payroll processing firm adp reports private sector employers added 179,000 jobs last month and that was better than expected. the services sector ranging from retarial taylorso shipp and small businesses led the gains. this comes ahead of the government report that comes out friday. it shows many businesses contin >> meanwhile, fascinating article in "the wall street jour says low skilled workforce e beca globalization and technology, could actually be the key to s the article cites new research from a harvard economist who anticipates a boom, yes, a boom,
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in low skilled jobs. let's turn to william lee, head e and bill, thanks for joining us, this stud workers w rekindle economic growth to the tune of nearly 2.5% a year until agree with that in. >> i think that's pretty opt is how software's designed. if software and technology is designed so people complimentary, instead of u does this happen? how do these low skilled workers come back in to the economy and jobs that pay reason bable wages and as you say, take advantage of technology if they are low skilled workers? >> the key to a low skilled worker is m really don't
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want to o computeki and put the a really smart ter somebo says, i want a trip to fiji. here are the different routes, this is the choices. human interface can enhance productivity because the client is to be very sats fied with the result and at the same t skillat low skilled worke you give the worker and that's a challenge for the future. >> we're specifically though i oth industriesvice as well? or is it really just the service econom how protective the industrial worker is today. yes, the industrl work's going to have to learn skills about how to operate these machines, but once they do and that depends upon the training the firms give, they become incredibly productive. what you need are the skills that the auto plants can teach
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you, so what we have in the future is the challenge of being able to give people embedded skills that are relevant for the jobs at hand.s article in "the street jou quote from the harvard economist who was the lead writer on this study. he says there's quite a lot of that the economy is growing faster than we think. we've been talking about this for some time. as to whether the government ac measure economic growth. do y do do you faster than we're measuring? >> there's an enormous amount out there, so there's no doubt there's much more output. for example, we now ta granted telecom. we can have video calls from anywhere around the are we paying for that? no. we're not measuring that. one ofe hess that
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technology to harb means giving the workers skills they doept have through the technology and not being replaced by the technology. >> fascinating discussio tha so much. antd we'll have more on the job market later in the program. find out if you live in a state where work er on wall street, th financials and energy stocks helped lift the indexes as oil prices b by the closing bell, the blue index was up 41 points to 18,355. nasdaq rose 22. s&p 500 up six. as for oil prices, they did rebound today. logging their largest daily gain in three weeks. a buck 32. the commodity was helped by a surprisingingly large drawdown of gasoline stocks. despite today's oil price rise, the trend has been in the other direction. domestic crude has fallen more than 15% in the past month and
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with prices hovering around $40 a barrel once again, many energy companies are facing some explains.hallenges. >> with oil back at $40, there's a loft interest focused on how oil companies are coping with oil taing lower for longer. in the last day, two large oil companies have reported. devin energy and occidental petroleum. both said that production levels were and would continue to be on the high side. wait a minute, we have an oil glut. why are they still producing so much oil? because everyone needs the cash flow. their spending is exceeding their cash flow, so they've got to get production up as one . second, they're continues to cut costs in part using better fracking technology and finally, the continuing to sell force to acknowledge that many of the oil assets they bought when oil prices were a lot hire will not
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be profitable in the n s the pr, so they're selling it, when necessary, taking charges. the bottom line, it's c to slowly improve their balance sheet. they're cutting cost, paying down debt, improving their technology. one key point. many big oil companies are owned for their dividends. slightly. not only sa i'm bob pisani at the new york stock exchange. now, what happens next to the entire energy sect on who i into the white house. jackie has t >> a critical time for energy investors and many are wondering what impact each presidential hillary clinton has indicated she would focus on cleaner energy, modernize u.s. infrastructure, combat climate change. energyfocus on altern options. she says no to keystone.
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she also say the coal industry, but the perception i out. donald trump says his 100 day actione our depends on foreign oil, impose less restriction on drilling, less bureaucracy on energy policy. he'd say yes to keystone and take a less harsh stance on climate regulation. the protection is that clinton would continue more of the current administration's policies and that her plan would be a gradual move way from foreign oil. the read on trump's approach is that drilling might pressure prices as the industry copes with oversupply conditions. in reality, no one's policies will be implemented overnight, but in terms of stocks, alternatives could see coal miners would probably do better under trump. >> as far as stability for oil price, i'd have to think hillary clinton because she's pretty much going to have the status here. what would happen with trump would be something pretty much of a wild card.
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not sure how much we'd go up or down here, but it seems things could get haywire. short-term, clinton's plan could be more supportive of prices, though earlier this year, oil did get closeo $26 a barrel. longer term, trump's plan could be better. in washington, officials con if i reca tha the white house secretly arranged a o iran on the same day iran released four american prisoners. but the whit >> we have not, we will not pay ransom to se the release of u.s. citizens. that's a that is our policy and is one that we have followed. >> amon, this is a very interesting story. what does the administration say this money was actually paying
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for? and why does it matter whether the administration says that t on $1.7 billion that the administration had agreed principle and of a payment that the prerevolutionary iranian government had made to the united sta back in 1979 for some arms that were never shipped because the iranian revolution happened in between, so ye the iranian wanted it back and then as part of these negotiations ongoing over the past year or so, the united states agreed bill the 400 million was just the first payout of that. now, the reason it matters whether or not this was a ransom payment is bst not paying ransom for hostages. the thought is, if you do that, you put a price on the head of who cou be taken hostage.
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you create a market for hostages and then everyone else is going was the price you set. >> how was this payment made? there's also been question about whether the payment was secret or not. was snit. >> yeah, the white says this was not secret because we said that the $1.7 billion was going to be paid and explained that to the american people from the white house podium. and that's true. this particular shipment though happ unmarked aircraft according to the "wall street journal" and was done in nondollar denominations of physical crash with franks, s no banking rip, ucurrency s to simply wire the money. all of that makes it seem more murky, that this payment was being done in secret, although the white house says overall program was . still ahead, which athlete rs most likely to land olympic sized endors?
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goldman sachs has been order oed to pay more than $36 million to settle agses that i conl regy material frs the federal reserve. the bank already paid a $50 million fine to new york state banking regulators for fail tog properly supersize its former employees. the former goldman emp 20 14. a new york fed employee was also fired and sentenced to in court after pleading guilty to charges. tesla reports a wider than expected loss in its second quarter.
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the el carmaker lost 1.06 a share. estimates were a meager loss of 52 cents a share. revenue for the quarter also missed estimates coming in at roughly $1.5 billion, but that was 30% above last year's level. as for the stock, it was little moved in afterhours trading following the results, but the is, it says, making progress in increasing production. phil lebeau has more on the company's core. >> tesla reporting a wider than expected loss for the second quarter, but it' th year that's gets the most attention from investors. tesla says it expects to deliver at least 50,000 vehicles in the third and fourth quarter combined and if that happens, tesla should get its full year delivery guidance of at least 80,000 vehicles. not much reaction initially after the earnings report, again, tesla reporting a
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dpraeter than expected loss in the second quarter. phil lebeau, nightly business report, chicago. strong e ad sales helped 21st century estimates. the media co revenue, but still not enough to beat sales hess e estimates. fox is hiking its dividend and launch ago $3 billion share buyback. shares were lower in extended hours, but ended the regular se percent. square posted a narrower than expected loss thanks to an also higher than expected an the company gave revenue guidance for the current adding that w on to the regular session's nearly 4% gain. shares closing at $10.44. time warner posted disappointing sales as head winds and lower
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television licensing revenue hurt results, but the giant did top estimates thanks to higher subscriptions at the company's said it took a 10% stake in hulu. shares up 2% to 77.85 3i8 and chloric ox clorox's profit fell. but the company did post better than expected revenue and gave an earning. shares were up to 131.39. humana's quarterly profit fell with losses tied to its afsu estimat revenue bert than pechted. the company reiterated it will end the majority of its plans tied to those public exchanges next year. sharp 2%. crocks missed expectations,
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citing a c retail environment. croc's guidance came in below estimates anou down in the low single digits. shares plunged 23% to $8.44. and fiat chrysler may be explorg a sale of its auto parts maker. says the electronics company tied to the unit.s with fiat to the deal could be valued at more than $3 billion and that sent shares 9 to 6.62. and walmart is reportedly interested in buying jet.com. "wall street journal" says a potential deale could be worth up to 3 billion. walmart declined comment. shares off 19 cents today to 72.94. friday marks the official
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kickoff to the summer olympics in brazil, where more than 11,000 athletes will come together to compete for goal and if they're lucky, a select few could land big endorsement deals. dean crutchfield joins us to talk about this. what does it really take for an or number two in your sport? number five, could they get a deal, too? >> absolutely. it's really a question of the personality and the profile and how it matches the brand. you brand is not just about marketing advertising. who reflects your brand the best. doesn't mean they're the number one player. finding an at might endorser, do they know what they're going to go after? are the stars almost preor daned? f a that are playing. and there's always those few that really and out.
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i think that you know, simone biles or elijah wilson or tom shields, the swimmer. p because the qualities they bring to the sport. >> what if a breakout star, someone we don't know their name, but we see them play and they do well, they're going to be the breakout sta there? are companies lining up ready to sign them? >> they're very sophisticated. they've got their feelers out there. brands leadoff endorsements and customers love celebrities. it's a big, important part of business and a very successful aspect of marketing, so they're. >> anyone whose story captures the imagination would be the people they would go after. we know some of the stars, the michael phelps, the swirm. usain bolt, serena williams and
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t olympic competitors make any money? >> no, most don't. if you look at a lot of trades, not everybody's big bucks. just a small few and those small few in the states really if you thserena, scherr poe vaa, to take on these brands and refresh their sense of who they are in the market. >> what about rebranding someone who may have fallen into some problems if there's a doping scandal. some other type of scandal with one of these athletes. w then do the companies recover and distance themselves from the athlete sns. >> well, basically, they say never trust an animal. doesn't how many legs it's got. these things can go wrong and there is the the fact. it's difficult to control a personality. whether they are an actor or sports person. as we've seen in so many cases. >> thank you so much, dean. with the dean crutchfield
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company. >> thank you. coming up, you can run, but you can't hide. at least not on social c to your online conversations. not ki next time you're at a restaurant or a ball gv vacatio, that company that owns e-mails or texts, but your nonprivate facebook or instagram or twitter posts.
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the growing usy called jeel fencing is making it easier. much easier for companies including some of the world's biggest, to see what their customers are talking in real time while they're on property. the goal is to engage with them, increase awareness of their brand and hopefully boost sales. michelle caruso- >> at marriott's torp rat headquarters, they call this m live. it's a modern day command center for the hotel chain where employees constantly monitor social media such as instagram, twitter, facebook and youtube. every day, more than 300,000 guests post on social media from a marriott property. they know this because of a technology called geo fencing. marriott has geo fenced more than 4,000 properties worldwide. >> that means basically, in the area around the hotel, the conversations that are on social media, we can tell who's around
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that hotel. >> and they watch as guests post about everything from breakfast in bed in amsterdam to pool selfies in the caribbean. sometimes, marriott reposts them and sometimes, they reach out to the customers directly. >> so, when guests post about a peshl occasion or engagement, the team here can notify the manager of the hotel bot of champagne or perhaps a free appetizer at dinner. maybe a room upgrade. >> it's designed to make the the ide you can see what people are posting within a geographic area, are you wor are customers? >> we think tht abili to have us amplify their con r s frey ask abo a response.ncerns. >> engaging and interacting with people who have shared their content publicly.
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marriotts are using -- to to be like their guests. r experience. >> it's really about a personal relationship that we're having with our customer. >> for nightly business report, i'm michelle caruso-cabrera, maryland. >> i to read more about how your social media posts are being watched by some fortune 500 way you're g tracked. you may want to know what you think about your job an a are the of people want to determine where peop most miserable and most happy. eric has done some research. there's some findings out there where people are most happy about their jobs. what have you found? >> it's really interesting research, so i like to look at unhappy. where do they hate their job the most. and delaware is number one. they're a small state. number two is connecticut. they are a major metropolitian place. you think about the big
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companies out of there, there's the entire list. florida, louisiana, maryland. so, a lot of east coast states there. talking about on social media, how they don't -- >> what's the matter with connecticut and delaware? >> connecticut has a high , hig taxes.ome. think about ge. they're leaving the tate to go to massachusetts. e srks prfi h funds, wall street people not getting kind of bonuses they're used to. salaries are going down. so connecticut's got a lot of things going against it. >> delaware's so little. >> small states with skew one way or the other. because they're small, it's easy the to move the needle. that's what makes connecticut to interesting. sbl what are they looking at when they determine what's job happiness? >> monster.com and brainwash, they're look at how at words like hate, love, all that kind of stuff.
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very sophisticated to see what people are saying. they know where they live. kind of figure out. >> i would say i hate my job somewhere. >> somewhere, like maybe one of you might have a bad day and say not a great day at work today. that's going to get picked up and they're going to put this in the data. >> happy. where are workers happiest? which states? >> generally in the west. so, when you look at states like idaho, north dakota, montana, washington is just short of the top five, but there's this northern and western bias towards people that are happy. maybe because it's less dense. there's more greenery. not sure. we've t of tech and tourism and what's driving the positive sentiment. >> very interesting. got to focus on the positive though i think and be happy like tyler says. >> be careful, people are paying attention. and finally tonight, for the irst time eve an unmanned mission to the moon. florida based moon express,
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there it is. looks like a little drone, doesn't it. used to deliver wine. on the moonead next year. the lander is not yet completed, but it is expected to carry science experiments and commercial cargo on the one way trip. i don't know who they're delivering it to. the ceo calls this a man have b earth's orbit.i for so >> that is nightly business report for tonight. thanks so much for watching. >> have a grea
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>> at up to forty feet long and weighing several tons, they are one of the most spectacular sights in the sea. >> there are 28,000 species of fish. about four hundred of them we call sharks. and the largest of those is the whale shark, it's the largest of all fish. an average whale shark is twice the size of the largest great white shark. so you're really talking about an animal that is a leap andรง bound bigger than it's next biggest relative. whale sharks are found everywhere in the tropical oceans. so you find them in the pacific ocean, the indian ocean, and the atlantic ocean. anywhere where it's warm enough, which pretty much means anywhere where it's over about 72 degrees fahrenheit. >> while they may be the largest fish in the sea, the animals are gentle giants. >> these are sharks that feed by filtering tiny food items out of the ocean, rather than having

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