Week of September 18th, 2023

The demise of the landmark site would affect a range of industries as well as Utah residents’ health. It would strike an emotional blow as well.

Plus, Biden on the picket line.

When it comes to dinner reservations, 6 p.m. is the new 8 p.m. In other food news, franchises roll with the economic changes and orange egg yolks may be a marketing ruse.

People are eating earlier everywhere, according to data from Yelp. Lifestyle changes are part of the reason.

Franchisees get help with marketing and branding, but the corporate parent can’t do much about high interest rates and labor costs.

With eggs a more costly commodity, yolks of a richer color have come to signify luxury, writer Marian Bull observes.

Stocks fall; autoworkers expand strike; manufacturers are more optimistic; service sector contracts

Many of the projects being completed were delayed by the pandemic.

UAW expanded strikes against Stellantis, GM and announced progress with Ford; Hollywood writers, studios continue talks; Texas judge declines to block Biden ESG rule; Amazon to start showing ads on Prime Video.

The owner of Everton soccer club in England’s Premier League has agreed to sell the Liverpool-based team to a Miami-based investment group.

A new report warns that the looming withdrawal of pandemic-era aid for childcare could hurt children and families.

The owner of the Liverpool-based Everton soccer club has agreed to sell to a Miami-based investment group. What’s behind the surge in Transatlantic team ownership?

The two challenges are interrelated, and a new report from the McKinsey Global Institute says they must be addressed in tandem.

Aid to child care centers will start to disappear at the end of the month, while federal spending on kids has dipped. We also do the numbers on a government shutdown.

From the BBC World Service: The United Kingdom is set to clear a fresh Microsoft-Activision deal. Then, strikes end at Chevron’s Australia LNG plants. Later: recapping this week’s interest rate decisions.

Elizabeth Laird of the Center for Democracy & Technology recounts artificial intelligence’s chaotic introduction into education. Disabled students in particular are using AI more, she says, and getting into trouble more.

And it’s Earth, Wind & Fire day!

The 1973 gasoline crunch forced Americans to cut their energy use. Why didn’t we stay on track with fuel efficiency? Plus, why some campaign ads cost more than others.

The labor market is still pretty tight, even after the last year and a half of rate hikes loosened things a bit.

The threat comes just when the Federal Reserve really needs a clear picture of how the economy is doing.

Will housing prices go down with fewer short-term renters around?

They’re usually cheaper than permanent employees, but they can reduce productivity.

Stocks fall; existing home sales are down more than 15 percent over the last year; leading economic indicators fall; unemployment claims drop.

Fifty years ago this fall, Arab members of OPEC cut off their oil exports to the United States.

As competition for ad space heats up, price rules help candidates but force outside groups to pay big.

Christmas is still on schedule for Hallmark and Lifetime but it might look a little different as more filming moves outside the U.S.

Free health care and a higher minimum wage in the U.K. means that there’s less reliance on tips to make up workers’ income.

Goldman Sachs now forecasts rate cuts in Q4 of 2024; Murdoch stepping down as chairman of Fox, News Corp; leading economic indicators index down 3.8% in six months; initial jobless claims decline to 200,000; existing home sales fall 0.7% in August.

If no substantial progress is made by tomorrow, the UAW strike could grow. We look at the impact. Then, why do companies “un-public” themselves?

Announcing its decision yesterday, the Fed also signaled it could hike rates one more time before year’s end.

When COVID hit, the volunteers on that many nonprofits depended upon disappeared.

That seems to be the current approach by the Federal Reserve. We unpack. And later: a view of tipping from the United Kingdom.

From the BBC World Service: Poland says it will no longer supply Ukraine with arms in a dispute over grain imports. Plus, would India be ready for Tesla’s expansion there?

“To make a really good AI, you need real prose written by real humans,” says Clive Thompson, author of “Coders.”

A new adventure into the wide world of jobs!

Plus, a body-double conspiracy runs rampant online.

“Spanglish” ads are becoming more common in the U.S. Plus, how companies name AI software, and what legally counts as false advertising.

There are still options for borrowers, despite the defeat of Biden’s cancellation plan. The new SAVE repayment plan is one of them.

That could mean that holiday hiring will be slower this season, says Andy Challenger of Challenger, Gray & Christmas.

About two thirds of the 64 million Latinos in the U.S. speak “Spanglish” a mix of English and Spanish, according to a new report out today by the Pew Research Center. Advertisers are paying close attention.

Stocks fall; Fed chair Jay Powell wants to see more evidence that rates are restrictive enough; General Mills says sales rose.

The U.S. isn’t usually thrilled when a country intervenes in its own currency. But boosting the yen is likely to help Japan’s economy, which could help the U.S. in turn.

Rebecca Tushnet of Harvard Law School explains the incentive behind companies making vague promises to consumers.

A human name, like Anthropic’s Claude? A helpful assistant, like Microsoft’s Copilot? Nailing the right name for generative AI is a tricky branding exercise.

It’s the second time the Federal Reserve has kept rates unchanged in its last three meetings.

When a South Korean ride-hailing company started asking passengers for voluntary tips last month, it sparked backlash from some customers.

Ford, Uniform reach deal that needs workers’ ratification; UAW says workers are now striking at an Alabama auto supplier plant; Government shutdown will likely prevent Fed rate hike in November, PIMCO says; White House launching Climate Corps jobs program.

We help you navigate the changing norms around tipping. Plus, we preview “the main event” of today’s Fed meeting — and we’re not talking about an interest rate announcement.

The quarterly report gives clues about how members of the Federal Open Market Committee see the economy and what future steps they might take.

Expectations around tipping have changed in the last several years. Here’s what to know.

Millions of homeowners in the U.S. are paying insurance premiums lower than what’s needed to cover the risk they face from climate change. A price correction is coming.

From the BBC World Service: Japan’s seafood exports crater 70% after China’s embargoes over the Fukushima water release. Then, a potential delay to the U.K.’s ban on gas-powered cars and Venice’s ban on day-trippers.

Companies are competing to create better tech for systems that can save lives during seismic events. This type of investment used to be funded only by governments, but that’s changing.

The roots of climate solutions lie in our soil.

Journalist Kashmir Hill spent the last four years writing about a company that says it can find any face anywhere on the internet. Her conclusion? Clearview AI is changing privacy as we know it.

Two competing visions for the U.S. economy.

Weather extremes have threatened global olive oil supplies for the second year as the appetite for EVOO grows in the U.S.

In “Your Face Belongs to Us” New York Times journalist Kashmir Hill describes her examination of privacy in the digital era.

Stocks fall; apartment construction down in August; China weighs on global economic growth; Federal Reserve starts two-day meeting on interest rates

You may not think much about electrical distribution transformers, but not having them can delay entire housing developments and grid updates.

A four-day workweek, which is among UAW contract demands, could make companies more efficient. But some think it could cause burnout.

Disney’s big on theme parks; global growth to slow.

We’ll explore how COVID upended the tip-based restaurant industry and where we go from here. But first: Where does the Fed think the economy is headed?

Consumers facing high energy prices and other burdens may cut back on spending, cooling the economy but, the Fed hopes, not sending it into recession.

And that legacy means a worker can be paid as little as $2.13 an hour at the federal level.

We examine the challenges the Federal Reserve faces as it tries to pull of an economic balancing act. Then, we delve into the ugly history of tipping.

From the BBC World Service: Major brands are severing ties with Johnny and Associates, Japan’s biggest talent agency, following a sex abuse scandal. Then, a closer examination of the Libyan dam disaster.

National security and censorship often come up in the contenders’ tech-centered rhetoric, and a lot of it revolves around China, says Dave Weigel, politics reporter for the news website Semafor.

It’s just the tip of the iceberg.

And a fighter jet disappeared. How?

Or could furlough you at any moment? Increasingly, government jobs are a tough sell. Plus, why digital retailers like Instacart are becoming big ad platforms.

Retail apps like Instacart are valued more and more for their consumer data — and advertising possibilities.

Barges can move cargo with less fuel than a truck or train. But environmental experts are skeptical of emissions calculations.

Workers have been paid after past shutdowns, albeit late. But there’s no guarantee they will after any future shutdown.

A growing number of adventurers are traveling the Continental Divide each summer, bringing a much-needed boost to one community.

Prisoner swap includes transfer of Iranian oil funds; UAW talks continue amid strike.

Dealers are still playing catch-up after the chip shortage and suppliers are building parts for new cars rather than those on the road.

While regular supermarkets are struggling in China, aspirational consumers keep Sam’s Club, Costco and its Chinese competitor Freshippo X expanding.

Public pools are more of a bellwether for racial and economic inequality than you might think. We break down the numbers.

Econ Extra Credit newsletter #166

Policymakers are meeting this week, with a decision expected Wednesday; UAW resumes contract talks with Detroit’s Big Three; California suing oil companies over climate change; Yellow plans to auction off its 12,000 trucks.

The practice dates back to the federal bailout in the 2000s.

Paying interest goes against Islamic rules on finance. Now, more institutions are offering Islamic mortgage solutions. Plus, what happens if the UAW strike grows?

Islamic finance offers alternatives to conventional loans and mortgages to comply with a religious prohibition on interest, which is seen as financial exploitation.

Striking workers are angry about automakers’ reliance on temporary and “tiered” workers. How did the industry get here? Plus, a look at the current investor gold rush.

From the BBC World Service: Small Italian islands near North Africa are struggling to cope with the influx of migrants, per the Italian government. Plus, examining record gold prices and gender representation in Japan’s cabinet posts.

The atmosphere at Apple’s iPhone 15 gala last week was subdued, Wired’s Lauren Goode reports. The smartphone market is “generally saturated,” she says. “I think people are thinking more critically about whether they actually need to upgrade.”