Marketplace Morning Report

Today, we have the story of one burned block: that of "Marketplace Morning Report" host David Brancaccio. Last year's wildfires in California were the costliest in history, with more than 16,000 structures destroyed and over 30 deaths. Fifteen of the houses destroyed in the Eaton Fire sat on a single street in Altadena. A year on, we check in with Brancaccio's neighbors to hear about life, loss, and efforts to rebuild.

From the BBC World Service: Delcy Rodríguez, who had served as vice president under President Nicolas Maduro, has promised stability amid economic uncertainty. After taking an oath of office, she vowed to guarantee the peace of the country, including "the economic and social tranquillity of our people." This morning, we recount the history of how Venezuela got to this moment. Plus, Nestle recalls baby formula products in Europe over concerns of food poisoning toxins.

Investors see some oil companies as big winners with the U.S. forcing a change of leadership in Venezuela. This morning, we'll hear how U.S. oil companies are faring in light of the news. Then, we'll provide some context for oil production and chat about global demand, what it'd take to develop Venezuela's infrastructure to help spark production, and learn how long it would take for U.S. oil companies to be reimbursed for investments.

Oil markets and financial markets seem to be shrugging off the major geopolitical story out of the weekend: the U.S. arrest of Venezuelan President Nicolás Maduro. "Investors are looking at the situation and not seeing a dramatic change in the state of affairs that could alter global markets in a major way," said Julia Coronado, founder of MacroPolicy Perspectives. "What makes most sense ... is to wait and see what unfolds," said Ben Kumar, head of equity strategy at investment management business 7IM. On today's show, we unpack it all.

From the BBC World Service: The U.S. stunned the world with the capture of Venezuelan President Nicolás Maduro over the weekend. Donald Trump has said U.S. companies will fix Venezuela's badly broken oil infrastructure and start making money for the country. We’ll hear more about reactions on the ground in Venezuela and learn more about its role in the global oil supply chain. Also: an allowance for Iranian citizens and a meeting between the leaders of China and South Korea.

Greg Abel has officially taken the reins at Berkshire Hathaway, stepping into the role long held by the titan of value investing, Warren Buffett. We look at what Abel’s leadership could mean for an empire that touches everything from energy to insurance. Plus, stocks had a strong year, with the S&P 500 and Nasdaq posting double-digit gains, but the job market tells a very different story. And do professional movie critics still matter in an age of Reddit threads and Letterboxd reviews?

Healthcare costs are climbing for many Americans as enhanced Affordable Care Act tax credits roll back, raising premiums for middle-income households unless Congress intervenes. In this vacuum, we look at a major new federal investment aimed at expanding healthcare access in rural communities. Plus, U.S. travel is sending mixed signals this year — domestic travel is booming, but fewer international visitors are visiting the States, and that shift is being felt by America’s museums.

From the BBC World Service: Iranian authorities say at least seven people were killed in protests on Thursday, the fifth day of demonstrations against the government's economic policies. Plus, the U.S. Department of Commerce will reduce controversial anti-dumping tariffs on some Italian pasta brands, which were accused of selling their products in the U.S. at artificially low prices. And we look at one profession that has become a casualty of the digital age — the film critic.

Gas prices hit their lowest level for a December since 2020, according to AAA, thanks largely to a global oil glut that pushed crude prices down about 20% last year. We look at whether cheaper fuel is likely to stick around in 2025. Plus, a new business in New York City doubles as a museum celebrating the history and cultural impact of the photo booth. And we examine how the expiration of federal tax credits is reshaping the electric vehicle market after a rocky year.

Minimum wages are rising in 19 states today, giving millions of workers a pay bump as the new year begins. We break down where wages are increasing and what’s driving those changes. Plus, only about 20% of recyclable household waste actually gets recycled. We explore how AI may be changing the economics of recycling.