Marketplace Morning Report – Air pollution in Delhi is hitting consumers, businesses

Date: December 15, 2025
Host: Gideon Long (BBC World Service)
Correspondents: Davina Gupta (Delhi), Danny Vincent (Hong Kong), Michelle Fleury (New York), Corey Stoll (Indeed)

Episode Overview

This episode spotlights how severe air pollution in Delhi, India, is disrupting daily life, impacting businesses, and dragging on economic productivity. Additional news stories include key updates on global business headlines such as China's retail slump, a major corporate investment in the U.S., the conviction of Jimmy Lai in Hong Kong, and the challenges of U.S. seasonal employment in 2025’s holiday shopping season.

Key Discussion Points & Insights

1. Delhi's Air Pollution Crisis and Economic Impact

[00:59 – 03:23]

• Current Situation:

  • Delhi authorities have raised air pollution to ‘grade four’ — the highest alert level.
  • Residents, especially children and individuals with respiratory issues, are advised to stay indoors.

• On-the-ground Description:

  • Davina Gupta:

    "The air which I'm breathing is really heavy. The visibility has dropped sharply, so it's like I'm standing inside a cloud of dust and smoke." (01:33)

  • Pollution peaks recur every winter due to weather conditions and crop burning in surrounding states.

• Impact on Businesses:

  • A “graded response action plan” is triggered, imposing severe restrictions.
  • Construction halted:

    "Construction work would stop, so any kind of real estate renovation work stops. So that impacts the daily wages who are involved with this kind of work." (02:17)

  • Many offices shift to remote or hybrid work, reducing overall productivity.
  • Economic cost:
    • A study by Dahlberg estimates annual business losses at $95 billion (≈3% of India's GDP).
    • Delhi alone may lose up to 6% of its GDP each year due to pollution.

    "The consumer economy takes a hit. A lot of people don't want to go to markets to shop and that's where the consumption sees a fall." (02:53)

2. Global Business Updates

Korea Zinc Investment

[03:27]

• Shares Surge:
  • Korea Zinc’s shares jump 11% after announcing talks to build a $6.8B smelter in the U.S., aimed at producing critical minerals and reducing reliance on international supply chains.

China's Sluggish Retail Sector

[03:27]

• Lowest Growth Outside Pandemic:
  • November retail sales up just 1.3% year-over-year – the country’s weakest retail data this century, aside from COVID years.

Jimmy Lai Conviction in Hong Kong

[04:14 – 04:40]

• Charges & Political Implications:
  • Jimmy Lai, pro-democracy activist and media tycoon, convicted on two counts of conspiring to collude with foreign powers and one of sedition.
  • Faces life in prison. Detained for five years already.
  • BBC’s Danny Vincent:

    "Critics have dismissed the case against him as political persecution. Human rights groups and many international governments have called for his release." (04:20)

3. U.S. Holiday Seasonal Employment Woes

[04:59 – 07:33]

• Dramatic Reduction:

  • U.S. retailers are expected to hire fewer than 365,000 temporary workers during the 2025 holiday season — a record low.

• Market Realities:

  • Despite holiday sales projected over $1T, rising costs and economic uncertainty have made retailers cautious.
  • Inflation and tariffs contribute to uncertainty; businesses hesitant to staff up.

• Job Market Statistics:

  • At a New Jersey job fair:
    • 11,000 applicants.
    • Only 150 positions filled in a single day.
  • Corey Stoll (Indeed):

    "The broader labor market has slowed down...there are fewer opportunities for job seekers, so they're becoming more interested in these jobs. But that slowing labor market also means that employers are less interested in hiring those people." (06:30)

• Consumer Impact:

  • Some shoppers are spending less due to economic unease:

    "I feel like I'm spending less this holiday season because I just feel like there's a lot going on money wise in the economy." (07:04)

  • Others maintain or increase their shopping despite higher prices.

• Result:

  • Fewer workers may mean longer lines and less “holiday cheer” in stores.

Notable Quotes & Memorable Moments

• Davina Gupta on Delhi air:

  "The air which I'm breathing is really heavy. The visibility has dropped sharply, so it's like I'm standing inside a cloud of dust and smoke." (01:33)

• Davina Gupta on business impact:

  "Delhi alone loses as much as 6% of its GDP every year, as per this study." (03:07)

• Will Lewis (NJ mall director):

  "We had over 11,000 job applicants... but we filled, on the day, 150 positions." (05:34)

• Corey Stoll (Indeed):

  "What that means is there are fewer opportunities for job seekers... and that's obviously a concern and a challenge." (06:30)

• American shopper:

  "I'm a big shopper, so I'm gonna definitely shop the same amount." (07:14)

Important Segment Timestamps

• Delhi air pollution situation and effects: [00:59 – 03:23]
• Korea Zinc U.S. investment; China retail data: [03:27 – 04:14]
• Jimmy Lai court case: [04:14 – 04:40]
• U.S. holiday hiring woes and consumer voices: [04:59 – 07:33]

Tone and Language

• Factual, concise, and informative.
• Blend of urgent reporting (Delhi air crisis) and human-interest perspectives (shoppers and job seekers).
• Neutral news delivery with occasional direct quotes capturing the speakers’ personal tone and emotion.

This summary captures the main themes, economic insights, and notable moments from the episode, providing a comprehensive guide for listeners or readers interested in the intersection of environment, business, and economics.