Economics in the News – Jan. 20-26

Economics impacts our lives every day. Below are some of the top storylines from this past week in economic news. 

• Global basketball icon Kobe Bryant and his 13-year old daughter Gianna were two of nine that died tragically Sunday morning in a helicopter crash outside of Los Angeles, California. An 18-time All-Star with the Los Angeles Lakers, Bryant’s impact became greater than basketball. The Los Angeles Times details how Bryant transitioned from basketball superstar to investor during his retirement, as he leaves behind a legacy far beyond basketball.
  
  
• The coronavirus has already claimed more than 20 lives in China, leading The World Health Organization to call it an emergency in China. The BBC estimates that the virus could cost the global economy more than $40 billion.
  
  
• The stock market ended last week on a low amid growing fears of the coronavirus in the United States triggering potential economic affects on travel and trade with China. The Associated Press reports that the S&P 500 saw its worst trading day since the month of October on Friday, snapping a two-week streak of gains.

• Many Americans could see their credit score impacted with new changes from Fair Isaac, the company behind the FICO score. CBS News reports that 80 million Americans are expected to be impacted by the change which will take into closer consideration consumer’s payments over a longer period of time.

• How has human behavior helped shape economies over the course of history? NPR’s Hidden Brain podcast takes a look at what the world might look like before money was invented and the role that it plays in our lives.