Week of September 11th, 2023

Plus, some thoughts on socks with sandals.

There are different currencies and reporting standards to take into consideration.

While it’s currently the “slow season” in her shop, candle maker Colina Bruce is hoping to see an uptick in October.

Plus, why immigration is important to the AI race, car dealers react to the UAW strike and a candle shop prepares to light up the holidays.

Sales at furniture stores have been sliding amid a cooling housing market and weakening consumer sentiment about making big purchases.

Solid Inventory is keeping some worries away for now. But a prolonged strike could hurt the industry, one expert says.

Depending on how you measure it, the economy either grew or shrank, according to BEA statistics.

Stocks close down; Biden calls for “record contracts” for striking UAW workers; Import prices rise; TikTok faces European fine.

If the U.S. fails to attract and retain foreign AI talent, the biggest winner could be Canada.

Consumers expect inflation to be at 3.1 percent in a year, lowest expectation in more than two years; UAW strikes against Detroit Three automakers; Media companies to resume negotiations with striking writers; Apple to update software in iPhone 12 models amid radiation concern.

As the UAW begins limited strikes, demanding fair pay, benefits and more, what might be next for U.S. automakers?

So far, the UAW is holding a limited strike at three plants across three states.

Students will pay 6% more every year for five years starting in 2024.

Bright HealthCare and Friday Health Plans were part of a new class of health insurance startups, but both have imploded in recent months.

When start-up insurance companies fail, they leave customers with no way to access medical care. Plus, a look at the UAW’s demands.

From the BBC World Service: French supermarket giant Carrefour now alerts customers to products that have shrunk in size, but kept the same price. Plus, contaminated flood water in Libya and a night out in war-torn Ukraine.

Reza Ghazinouri and Shaghayegh Norouzi of the United for Iran activist group explain the role of apps in the continuing protests sparked by Mahsa Amini’s death in custody.

Plus, a CEO says the quiet part out loud.

For this toy store owner, the biggest challenge right now is prepping for the holidays.

Plus, the UAW plans to target its work stoppages as a strike looms. And will this year’s cost-of-living increase be enough to help Social Security recipients keep up?

And that’s before the shares even get to the P in the acronym: the public. First there’s the “roadshow,” later, hopefully, the “pop.”

Even a small increase in unemployment can result in disproportionate effects on marginalized groups.

The United Auto Workers may focus its actions on specific plants, instead of organizing a broad work stoppage, if contract negotiations fail.

Stocks close higher; Arm shares rise 24% in first day of trading; UAW strike deadline looms; Mortgage rates stay above 7%.

Mobile homes are uniquely vulnerable when natural disasters hit, and face challenges when trying to get recovery money. Some in Colorado are still grappling with the effects of flooding in 2013.

The 2024 cost-of-living adjustment comes out to 3.2%, a pretty modest amount compared to past years.

Members of Generation Z bought more homes at a younger age than previous generations, but not all Gen Zers broke into the housing market early.

Retail sales rose 0.6 percent in August; Wholesale prices rose 1.6 percent annually; Jobless claims remain low at 220,000; Gannett to hire reporters dedicated to covering Beyonce, Taylor Swift.

Economists aren’t actually sure. Where did this universally-accepted but unproven idea come from?

Much attention is paid to younger borrowers, and rightfully so. But some 3.5 million Americans 60 and older hold substantial debt.

Another example of inflation caused by the pandemic.

The Economist’s Charlotte Howard explains why companies aren’t doing more to prepare for business risks posed by climate change.

Plus, senators scramble to regulate AI and CEOs procrastinate when it comes to addressing climate change.

From the BBC World Service: Extreme inflation and a lack of supplies has led to protests in Syria amid the ongoing civil war. Plus, Formula 1 aims to halve energy emissions by 2028.

The satellite market needs more competition, says Steven Feldstein of the Carnegie Endowment for International Peace.

Are cool, comfortable offices to blame?

The supportively soled shoe brand is the latest company to file to sell stock to the public after a long IPO drought. The move indicates a stable, confident market.

El Pueblo Mexican Food, a family-owned restaurant chain in San Diego, California, is bucking price trends.

We dust off our economic crystal ball. Also, we look at the big life events that push people to house hunt.

With the aid of workers, technology and cash from the oil and gas industry, new companies offer a glimpse of a post-fossil fuels future.

A look at why PG is the new G for family movies in theaters this year.

The author of the blockbuster novel “The Martian” shares a story that shows he wasn’t always the wordsmith we know him to be.

Stocks close mixed; Fed takes in inflation report; UAW negotiations ongoing; McCarthy presents plan to avoid government shutdown.

While vinyl record prices remain a concern for Phillip Rollins of OffBeat, he thinks lower-priced “greatest hits” albums may entice customers.

People motivated to buy or sell homes in this market are often hitting significant milestones, from babies and back-to-office mandates to downsizing and retirement.

While inflation for goods may be back to pre-pandemic levels then, higher inflation for services could stick around.

In the name of community revitalization, Colby College is investing millions in arts centers and resources.

Inflation was at 0.6 percent in August, an acceleration from July; IEA predicts energy prices will remain elevated the rest of the year; Fed expected to keep interest rates steady next week; New York City, Oregon sue Fox over 2020 election lies

Leaders of a revitalization effort in Waterville, Maine hope the answer is yes. The town’s college and other donors have put millions into more robust arts attractions.

It replaced a decongestant that’s a precursor to methamphetamine.

China’s video gaming sector is the first to feel the impact of generative artificial intelligence.

A key ingredient found in most oral decongestants doesn’t work, according to a new report by the FDA. What can the cold and flu industry peddle instead?

From the BBC World Service: If 777 Partners does buy Liverpool-based Everton, half of all Premier League clubs will have American owners. Plus, a BP exec resigns and iPhone radiation worries French regulators.

The once-beloved gadget seems headed for the graveyard of kitchen appliances. The New Yorker’s Susan Orlean is sending hers off with an obituary.

A look into the roles of pacifism and property destruction in the climate movement.

We’ll explain what this voting system is all about and how it works.

We check in with Alana Ferko, manager of the Butte Plaza Mall, who tells us about vacancy rates and a few special guests.

We do the numbers on poverty data released by the Census Bureau. Plus, what does the rise of electric vehicles mean for infrastructure funding?

With electric vehicles becoming more common, some states, like Texas, are levying flat fees to make up the shortfall.

The expiration of pandemic-era government benefits is partially responsible for the increases in poverty.

On issues from data privacy to content moderation, as Europe goes, so goes the tech industry.

You’ve probably infringed several patents today.

Stocks close down slightly; BP’s CEO steps down; Google goes to court; and Apple unveils new iPhones.

In August, for the 20th straight month, business owners scored their outlook below average.

Government lawyers allege an online search monopoly; Biden administration wants changes to migrant farmworkers visa program; 2023 is already a new record for costly weather disasters; Detroit automakers and union apparently making progress, three days before potential strike.

A recent survey found two thirds of public school teachers think their pay is inadequate. On average, a 27% raise would make them feel fairly compensated.

Without tourist attractions, how are small town Airbnbs attracting so many visitors?

They’re paid less than others with comparable education and experience.

In 2010, this town was a picture of economic devastation. Reinvestment brought Main Street back to life.

Waterville, Maine’s downtown stood largely empty for years after factories closed and retailers moved out to the interstate. But thanks to key reinvestment, the area is growing into a hub for arts and culture.

U.K.-based Arm plans to go public this week. Plus, caterers are facing increasing pressure to host extravagant weddings, thanks to social media.

Amazon, Alphabet, Meta, Apple, Microsoft and ByteDance will have until next March to comply with Europe’s Digital Markets Act, which aims at leveling the playing field for other competitors.

Who ya gonna call? The Recession Crushers!

What’s really going on?

Retailers want stiffer sentences for what they say is rising theft. But the data isn’t clear, says Nicole Lewis of The Marshall Project.

If the United Auto Workers go on strike this week, the impact could be massive. Today, we’ll examine the potential toll on the economy.

Foreign nurses are in high demand to support patients in U.S. nursing homes and hospitals, but visa barriers remain in place.

But they expect other key measures to be less positive. Here’s what that means for the Fed.

In the past, technology has displaced jobs but the economy has continually created new ones. Some experts see greater losses this time.

Contracts with Ford, GM and Stellantis all end at the end of Thursday, and the president of the United Auto Workers union has made clear that members are prepared to strike.

Smaller stages want a slice of your entertainment budget, but blowout events like the Beyoncé and Taylor Swift tours are eating them up.

Econ Extra Credit newsletter #165

Stocks close higher; FDA approves new COVID vaccines; UAW and Big Three negotiating.

The deal between the two packaged food companies is valued at $5.6 billion; Qualcomm renews agreement to provide chips to Apple; Wall Street observes September 11 anniversary; Consumer protection agency can’t police banking discrimination, federal judge rules.

Shipping companies need to cover their higher costs, but there’s a limit to how much they can pass on to customers.

The upper age limit for SNAP recipients (able bodied, without dependents) who have to prove they’re working or looking for work at least part time has just risen from age 49 to age 50. Eventually it’ll go up to age 54.

This could make it harder for older Americans to qualify for food assistance. Plus, Biden visits Vietnam and shipping rates went up a bit.

Is Google really the best search engine out there, or does spending billions to remain the default make them an illegal monopoly?

Moroccan businesses are reeling after a massive earthquake on Friday. Plus, Vietnam spends big on Boeing jets and florists congregate for the World Cup of Flowers.

The bill “adheres pretty closely to what they’re currently offering with their home-repair kit,” says Brian Heater of TechCrunch.