Week of October 30th, 2023

Plus, are more celebrity tequilas really necessary?

It may want to, but it doesn’t. It has its ways to exert influence, though. Plus, wage growth slowed in October.

Revenue for the U.S. paper mill industry has declined in recent years. E-commerce, though, has stirred a boom in cardboard packaging.

These financial conditions include the rise and fall of the bond markets or the cost of borrowing money. The Federal Reserve does not have direct control over these conditions, but it tries to influence them.

Alternatives to traditional school bus transportation include carpooling platforms and apps reminiscent of ride-hailing.

Average hourly earnings rose 4.1% year-over-year in October; the rate peaked near 6% in March 2022. The slowdown in wage growth is helping the Fed wrestle inflation lower.

Algorithms are good at disguising their behavior.

Stocks close higher; unemployment rate unchanged; average pay gains slow; services sector expands again.

As I bonds offered investors an eye-popping rate of 9.62%, TreasuryDirect saw a flood of new customers. That strained the system, but the site has since rolled out improvements.

The October jobs report showed a relatively healthy 150,000 gain; White House hosts Americas economic summit; Sam Bankman-Fried convicted of fraud, conspiracy; Maersk announces layoffs as shipping demand softens.

We do the numbers on this morning’s jobs report, which shows a cooling economy — exactly what central bankers are hoping for.

Many gyms lack proper resources for people with physical disabilities, so Wesley Hamilton designed one.

While the Department of Education is focusing debt relief on five broad categories, the finalized details of the plan are still being ironed out.

The National Retail Federation predicts at least $957 billion in sales this holiday season. But that might not mean everyone is splurging.

One of the biggest fraud cases in American history came to a speedy end yesterday, with FTX’s Sam Bankman-Fried found guilty on 7 charges of fraud and conspiracy.

From the BBC World Service: China was the biggest importer of Australian wine before tensions between the two countries rose. Plus, Malta becomes a gay-friendly tourist destination.

Joanna Stern, senior personal tech columnist at The Wall Street Journal, joins Lily Jamali for Bytes: Week in Review to discuss the U.K.’s AI Safety Summit, the dip in EV sales and whether Netflix’s ad-tier subscription model will pay off.

Saving isn’t just for retirement.

Keep it organized and get your money.

And, crypto king convicted.

Economists get into the nitty-gritty of the Fed chair’s comments. Plus, the economics of building a wind farm.

The walkout, called “pharmageddon” on social media, included pharmacists at CVS and Walgreens.

More offshore wind projects are being approved, but many are also running into economic and logistical challenges.

Could be good, could be bad.

Makers seem to favor devices with much larger displays. Sean Hollister at The Verge recounts his search for a good small phone.

Wealthier drivers are more open to electric vehicles, but low-income people are hesitant due to purchase cost and a lack of charging stations.

Stocks close higher; worker output outpaces hours worked; new unemployment claims increase; Starbucks sales rise.

Lululemon embraced the trend of dupes by offering consumers the chance to swap a pair of dupe leggings for the real deal.

The seasonal favorite helped power record quarterly revenues at Starbucks; worker productivity improves at best pace in three years; initial unemployment claims inch up to 217,000.

And it’s possible that the deals that ended the United Auto Workers’ strike could also make EVs less profitable for companies.

EV sales are growing, but not as quickly as hoped. And carmakers are now dialing back EV production targets.

Living conditions in Gaza were already catastrophic prior to Israeli military offensive operations. Now, the situation is getting worse.

From the BBC World Service: We take a look at the booming market for duplicates, or dupes. Plus, it’s day two of a big AI summit in the United Kingdom.

The economic toll of Israel’s total blockade has humanitarian repercussions.

According to the FBI, email phishing attacks accounted for nearly $51 billion in losses over the past 10 years — and the number is only expected to grow with the introduction of artificial intelligence.

What happened to the party of fiscal conservatism?

The Treasury plans to offer more than $100 billion in bonds next week. Who’s gonna buy them? Plus, possible changes in the way Americans buy homes.

The company has risen and fallen on its stylish co-working spaces, larger-than-life founder and ability to rake in — and spend — investors’ cash.

Digital platforms have become especially difficult to manage with the rise of remote work.

The jurors found that the National Association of Realtors and a couple of big brokerages conspired to inflate commissions.

The Federal Reserve and major U.S. banks are buying fewer bonds than they used to. Hedge funds are picking up some of the slack.

Stocks rise; Powell says growth will likely to have to slow to bring down inflation; quits rate unchanged; private employers add jobs.

High mortgage rates and building costs have reversed the pandemic trend of bigger houses.

Job openings totaled 9.6 million in September; private payrolls add 116,000 jobs; Yum Brands boost profits; automakers oppose steel industry consolidation.

As the Fed wraps up its two-day meeting, economists are looking to the Treasury Department for details on how the federal government plans to borrow money through the end of the year.

Streaming platforms, live shows and new technologies have all altered the music landscape. We dig in.

It looks like live music shows are generating more revenue than before the pandemic. But the number of shows has fallen.

Maine’s gun laws are under scrutiny after the deadliest mass shooting in the state’s history.

Normally a snoozefest, investors (and the Marketplace team!) are staying awake and alert for an announcement on how the federal government plans to do its borrowing.

From the BBC World Service: Government representatives and tech leaders are meeting in the United Kingdom for the world’s first safety summit on artificial intelligence.

Amid historic drought, tribes are fighting for a voice in managing the Colorado River.

There’s been no moratorium on artificial intelligence development, despite the warnings of many tech leaders. Jonas Schuett of the Centre for the Governance of AI has a different approach to the question of a pause.

A lot of generic courses are outdated, experts say. Better solutions can cost tens of thousands of dollars, but some of the best advice is free.

Plus, we finally learn why Kai isn’t a fan of spooky season.

There’s nothing scarier on Halloween than a wage-price spiral. Plus, Etsy may have an e-commerce edge this holiday season.

“This particular job, one of the reasons I took it is because I knew that you’d never stop learning, and I find that really exciting,” said Violet O’Brien, a notary in Houston.

But recent union victories may keep upward pressure on wages.

“I thought I’m gonna have so much income,” said April Hemmes. “But all my inputs were all that much higher.”

California is one of 11 states that allows in-home child care providers to bargain collectively. This year, the union that represents 40,000 of these workers in that state won big in their fight for better pay and benefits. 

Consumer spending has been resilient, but will Etsy, a site that epitomizes discretionary spending, continue to rake in money?

Stocks rise; labor costs up 4.3% from last year; consumer confidence ticks down; Caterpillar earnings rise.

The Bank of Japan’s “yield curve control policy” could be on its way out as central banks around the world raise rates to beat inflation.

Wages and benefits in Q3 rose 4.3%; consumer confidence weakened for third straight month; home prices rose 2.6% in August; U.S. sues SolarWinds over 2020 hack.

More colleges are offering early decision admissions, but the practice tends to admit students from wealthier backgrounds.

Costs have reached new heights just as federal subsidies that helped providers cover staffing and other expenses come to an end.

For the educational institution, the practice increases certainty around admissions. Critics say it undermines fairness.

Anti-scam education “is not information to just pass on to your grandmother,” says Emma Fletcher of the Federal Trade Commission.

Scammers don’t discriminate. Today, we delve into the types of scams Gen Zers fall for and what consumers can do to protect themselves.

From the BBC World Service: A tour company has been found guilty of not “minimizing risk” in the White Island volcano eruption. Also: A look the spookier side of tourism.

The order requires artificial intelligence developers to share test data to ensure safeguards are being considered.

Plus, a look back in time at the newspaper-radio rivalry.

Delivery giant grows its network of sites where customers can send back packages by adding 10,000 Happy Returns drop-off locations.

Climate change is making extreme rain more common. Raised metal grates and higher curbs are helping at the Chambers Street station.

Stress about the economy has inched up since last year — but so has optimism. Plus, United Parcel Service is working to improve package return logistics.

In one poll, 44% of respondents say they’re stressed about the economy. Meanwhile, 34% say they’re optimistic.

The employment cost index, a favorite Federal Reserve data point, captures the cost of employing people, including benefits.

This executive order attempts to set new standards for how we develop, test, and use AI — in government as well as within private industry.

Stocks close higher; UAW reaches tentative deal with GM; Biden signs executive order on AI; COVID-19 antivirals transitioning to the commercial health insurance market.

Boosters of the technology say it could reduce the size — and cost — of EV batteries.

Econ Extra Credit newsletter #172: Readers share their cautionary tales and we provide some tips on how to protect yourself.

Holdout GM reached deal with autoworkers’ union this morning; COVID-19 antiviral treatments to be distributed by commercial health insurance; McDonald’s reports strong profits on promotional sales; Southwest likely to face regulatory fine over customer service failures.

Delays in the BIA approval of real estate transactions could have exposed Native homeowners to climbing interest rates and construction costs.

From January to September this year, more than 1,400 CEOs have left their jobs. That’s up by almost 50% from the same period last year.

The deal follows the pattern set with Ford last week and Jeep maker Stellantis over the weekend.

More than 1,400 CEOs have left their jobs from January to September this year. What’s behind the exodus?

It’s not saving retailers as much money as promised, says Amanda Mull of The Atlantic. And it doesn’t always make customers’ shopping trips easier.

Be honest: Do you prefer self-checkout at stores or do you actually kinda dread them? Plus: the latest updates on the UAW strike.

From the BBC World Service: Evergrande has been told it has weeks to avoid liquidation by agreeing a repayment plan for the money it owes.

Marketplace’s Matt Levin explains why users’ fear of changing default settings on tech devices, especially smartphones, is at the heart of the government’s antitrust case against Google.