Business

Rite Aid, Bird and Bed Bath & Beyond are among the notable companies that filed for bankruptcy in 2023.

Why corporate bankruptcies were up in 2023 despite the improving economy

1:34pm December 28, 2023

by Bobby Allyn

Hundreds of debt-saddled companies filed for bankruptcy this year, as the era of easy money caught up to corporations. High interest rates mean banks aren't extending lifelines.

The former Akorn pharmaceutical plant in Decatur, Ill., that made a wide range of generic drugs used in hospitals is being reopened under new ownership.

Health & Safety

How rock-bottom prices drive shortages of generic drugs used in hospitals

11:00am December 28, 2023

by Sydney Lupkin

Hospitals rely on scores of generic drugs given by injection. But these workhorses are often in short supply. Cheap prices have led to factory closures that leave the supply chain vulnerable.

Some stores are making it harder for online customers to send something back

7:25am December 28, 2023

Many retailers are adding shipping fees for their mail-in returns, causing some customer consternation.

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Businesses near New York's Times Square benefit from New Year's Eve ball drop

6:46am December 28, 2023

Restaurants are charging big bucks to have dinner and a show while ringing in the new year. Tickets for dinner at the nearby Applebee's were priced over $600, and they sold out.

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Morning news brief

5:05am December 28, 2023

WHO cautions disease may kill more people in Gaza than combat. The New York Times sues ChatGPT's OpenAI and Microsoft for copyright infringement, and 2023 is expected to be the hottest year on record.

A $7,500 tax credit for electric vehicles will see substantial changes in 2024. It will be easier to get because it will be available as an instant rebate at dealerships, but fewer models are likely to qualify.

Economy

The $7,500 tax credit for electric cars will see big changes in 2024. What to know

5:00am December 28, 2023

by Camila Domonoske

The electric vehicle tax credit will be easier to get next year — but fewer models could qualify, as the government imposes stricter eligibility requirements.

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Holiday spending is up, another good sign for the economy

7:34pm December 27, 2023

by Becky Sullivan

Data show consumer spending from November 1 through Christmas Eve rose 3.1% year over year — a figure in line with the decade leading up to the pandemic and another positive sign for the economy.

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Supermarket sticker shock eased this year, as egg prices fell back to earth. Despite gloomy recession forecasts at the beginning of the year, consumers kept spending and the economy continued to grow.

These 5 charts show how life got pricier, but also cheaper, in 2023

11:21am December 27, 2023

Inflation eased this year, and wages are now climbing faster than prices. Americans are still spending, even if they have to borrow money to do so.

Morning news brief

10:42am December 27, 2023

U.S. officials travel to Mexico to talk immigration enforcement. U.S. or Israeli confrontations with Iran-backed militias increase. President Biden doesn't seem to benefit from strong economic news.

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South Fork Wind — a 12-turbine wind farm near Long Island —began generating electricity in December.

National

Offshore wind in the U.S. hit headwinds in 2023. Here's what you need to know

10:38am December 27, 2023

by Miriam Wasser - WBUR

Rising interest rates, inflation, and global supply chain issues brought delays in 2023 for the offshore wind industry, but also some projects began generating energy.