Week of November 27th, 2023

They’re often surreal or provocative. Occasionally kinda now, kinda wow.

A different kind of I-Pee-As!

That’s what some big retailers are telling shoppers who received the wrong or broken items. Plus, a deal consumers like can backfire on restaurants.

“Returnless refunds” or “keep it” return policies have now been adopted by more than half of major retailers, according to a new survey.

The Institute for Supply Management’s Purchasing Managers Index showed worse-than-expected performance for manufacturing, but construction growth shone.

The Biden administration is spending billions to incentivize the practice, but quantifying its effectiveness is still a challenge.

Stocks rise; manufacturing production falls; new home construction spending rises; manufacturers investing in long-run projects.

If bargain hunters skimp on the add-ons, the business may have to eat a loss. For Red Lobster, it was $11 million last quarter.

Plus, circular economies and ecologies in this week’s “Make Me Smart” newsletter.

Plus, Pulitzer-winning author Walter Hickey defends his splurge.

The Biden administration has released long-awaited rules limiting tax credits for certain EVs; OPEC+ extends oil output cuts; Tesla delivers long-promised pickup truck; federal judge blocks Montana’s TikTok ban.

In New York City, Kiss will play what it’s calling its last ever show. But it also had a farewell tour two decades ago.

The band Kiss will play what it’s calling its last ever show this weekend. This kind of farewell tour can also be good marketing.

The prices for HIV-prevention medication PrEP can range from 50 cents a day to north of $18,000 annually.

Ahead of a quiet period before their next interest rate meeting, what sort of economic portrait have Federal Reserve officials been painting?

From the BBC World Service: Germany is looking at an $18 billion gap in next year’s budget because of a court decision last week on a German fiscal rule known as the debt brake.

On today’s episode of Bytes: Week in Review, Natasha Mascarenhas of The Information joins Marketplace’s Lily Jamali to discuss the biggest tech stories this week.

Yanely Espinal talks to TikTok’s “Corporate Baddie” Amir Henley about how to stand out in today’s job market

It seems to be getting wider. Plus, new consumer expenditures data and a custom wedding stationery business.

New data from Harvard’s Joint Center for Housing Studies shows that a growing number of people in their 60s, 70s and 80s still have mortgage debt, and they’re carrying more of it than than previous generations did.

And, other controversies surrounding COP28.

Production cuts may no longer be as effective at propping up prices because electric vehicles are cutting into global demand.

Danielle McCarthy and Ellen Kelly run a luxury wedding stationery business in Newport, Rhode Island, where they specialize in letterpress printing.

Stocks close mixed; services spending rises while durable goods spending falls; inflation mostly flat between September and October; unemployment claims rise.

Environmental, social and governance funds, once a bright light in investing, are confronting potential regulation and political heat.

Cities are home to high-paid business services and rural areas have lost manufacturing, contributing to the 23% gap in earnings.

In the cutthroat world of professional classical music, Eric Abramovitz was headed toward a shining career. Until something — or someone — got in the way.

PCE price index receded to a 3% annual rate in October; continuing claims for unemployment benefits hit a 2-year high; New York Fed Chief Williams says interest rate hikes are likely done; Ford says strike cost $1.7 billion.

Consumer Reports is out with a survey that finds that electric vehicle owners had roughly 80% more problems than owners of conventional vehicles.

Soccer star Cristiano Ronaldo is facing a class action lawsuit over his relationship with the crypto exchange Binance.

Advertisers are taking current market conditions into consideration when competing for consumer dollars.

How are brands trying to distinguish themselves and complete for holiday spending dollars? We discuss.

From the BBC World Service: We examine the controversy of appointing Sultan Ahmed Al-Jaber, CEO of the United Arab Emirates’ state-owned Adnoc, as president of COP28.

The billionaire executive went to Israel amid the backlash, apparently to blunt criticism. Ryan Mac of The New York Times discusses the impact of Musk’s actions on advertisers and the impact of the advertiser exodus on X.

Plus, the future of the administrative state.

World leaders will try to sell the switch to clean energy in a country that depends on fossil fuel extraction. Plus, Varda Space Industries wants to make medicine in zero gravity.

We spent more over the holiday, but we bought less — thanks to inflation.

Price dips and and an expansion of models to choose from contributed to the boost in third-quarter purchases.

And the leader of the COP28 gathering is the CEO of a giant oil company. Will those fossil fuel ties compromise the outcome?

This is how Varda Space Industries hopes to commercialize manufacturing in space.

Stocks close mixed; GDP revised to a 5.2% annual rate; corporate profits grow; consumers growing more price sensitive.

From Tamagotchis to Star Wars, the number of adults buying new and old versions of their childhood toys has continued to climb.

GDP growth revised to 5.2%; Fed officials signal potential rate cuts; GM says strike cost $1 billion and new labor deal $9 billion.

Charlie Munger, the right-hand man of the Oracle of Omaha, died on Tuesday at the age of 99. We share a tribute.

Researchers are finding that, in some ways, humans and artificial intelligence actually work well together.

They were up 6.7% in September from a year ago, according to an index out this week from S&P CoreLogic Case-Shiller — the highest of the 20 metro areas.

Use cases show generative AI can make human workers more productive rather than replace them entirely.

From the BBC World Service: Over 10 years ago, Uber shook up the United Kingdom’s taxi scene. Now, the company says it will soon open up its platform to London’s black cabs.

Game companies around the globe have laid off thousands of workers. A downturn was on the horizon, as Sarah Parvini of the L.A. Times explains, when people started wandering out of their homes after COVID quarantines.

How technology can help solve the water crisis in the West.

It goes beyond the right-to-repair movement.

The Chicago Fed chief on inflation-cooling measures and consumer sentiment. Plus, ChatGPT makes hiring extra-tricky.

Lower demand for many products made from chemicals plus too much inventory results in rough times for chemical manufacturers.

It means interest rate hikes are having the intended effect. Tapering consumer demand and high labor costs are weighing on earnings.

And what do medieval times have to do with it?

Chicago Fed’s Austan Goolsbee on the consumer sentiment disconnect, and what happens if interest rates stay high for too long.

Stocks close higher; consumers lower inflation expectations; home prices rise; U.S. dollar’s relative value falls.

The AI chatbot makes it easy to send out multitudes of resumes. The tsunami makes it hard for employers to sort through candidates.

Deutsche Bank is predicting interest rate cuts due to a mild recession in 2024; consumer confidence improves despite recession expectations; home prices rose 4.1% in September, national index shows; memoirs by Prince Harry, Britney Spears among top sellers on Apple Books.

Food banks around the country have seen higher-than-usual demand all year. Plus, a fast fashion giant goes public.

Holiday expenses add to the pressure on household budgets caused by inflation and the sunsetting of federal benefits.

During the first two years of the pandemic, toy sales in the U.S. grew by 30%. Now, they may be coming back to earth.

Movie theaters get a slice of profit from ticket sales, but many also capitalize on the moment with themed food, merchandise and more.

What may be less apparent after watching “Killers of the Flower Moon” is just how hard the Osage Nation has fought to protect and preserve its language.

First it was Taylor Swift’s Era tour film, now it’s Beyoncé’s Renaissance film. We look at how movie theaters are benefiting from concert flicks.

From the BBC World Service: A look at the first transatlantic flight powered only by what’s being called “sustainable aviation fuel.” Then, an Irish pub gets catapulted to fame.

Yanely Espinal, host of the podcast “Financially Inclined,” shares the story of content creator Sid Raskind, who talks about the many projects an influencer has to have in order to make the job sustainable.

What the word of the year says about 2023.

The World Trade Organization says goods trade could reach pre-pandemic levels in the next year. Plus, the history of the indoor mall.

Demand for electric vehicles is a big driver of the revival.

As the U.S. decarbonizes, it will need a lot more electricity. Geothermal energy networks may be a cost-effective part of the solution.

Instead of marking down items to clear inventory, retailers are using discounts to draw customers away from competitors.

New home sales fell 5.6% in October, but they’re still up 18% over last year. And they make up a record share of total inventory.

At Night School Bar, there are no grades and no credit. Classes are pay-as-you-can. The listed cost is $320 per class, but students can pay as little as $10.

Stocks fall; new home sales grabbing larger share of overall market; global trade volume could pick up; Black Friday spending rises.

The most successful malls are going back to their roots as multipurpose destinations, instead of just retail centers.

Black Friday sales rose less than inflation, while Cyber Monday is expected to turbocharge sales period; Biden directs investment in more domestic drug production; new home sales declined 5.6% in October.

Leaked documents obtained by the BBC show the United Arab Emirates, a major fossil fuel producer, was looking to strike oil deals at COP28.

Many of the world’s biggest economies have agreed to non-binding safety standards for artificial intelligence. We dig in.

The two-week United Nations summit on climate change will kick off on Nov. 30 and take place in Dubai this year.

The United Nations’ annual climate summit, COP28, will kick off in Dubai later this week. What will we be looking for?

From the BBC World Service: Leaked documents obtained by the BBC reveal plans by the United Arab Emirates to discuss gas and oil agreements with 15 countries.

Despite half the world’s population being female, there are still few technologies on the market to help manage the symptoms of menopause. Why is there a reluctance to invest in “menotech,” and is that changing?