January 2023

2022 was a devastating year for Bed, Bath & Beyond and it might never bounce back.  Last Thursday, the company made the grim announcement that a bankruptcy filing is possible in the future. Bed, Bath & Beyond “has concluded that there is substantial doubt about the company's ability to continue as a going concern,” according to the press release.  The company stated its expected net sales as...

Delta Airlines announced that beginning on February 1, “fast and free” Wi-Fi will be “available for everyone.”  The Wi-Fi service will be available on 80% of Delta’s planes starting next month and will continue to be added to more plans each week, according to CEO Ed Bastian.  Passengers will access the free internet service by logging in with their Delta SkyMiles frequent flyer account. Passengers who are...

Layoffs are reportedly set to continue into the new year. The CEO of Amazon, Andy Jassy, acknowledged the cut in a letter to staff on Thursday.  “Our annual planning process extends into the new year, which means there will be more role reductions as leaders continue to make adjustments,” he wrote. “Those decisions will be shared with impacted employees and organizations early in 2023.” On Wednesday, the...

The psychedelic market is evolving. According to Washington D.C.-based journalist, Dave Hodes, decriminalization and legalization of psychedelics is advancing across the nation. Also, awareness of the benefits of psychedelic drugs and mental health is growing.  According to a study done by Data Bridge Market Research, “The global psychedelic drugs market is expected to gain market growth in the forecast period of 2022 to 2029.” Specifically, “the...

Victoria’s Secret Brand CEO, Amy Hauk, has abruptly resigned just eight months into the position, the company announced on Tuesday. Hauk’s reasoning for leaving was cited as “to spend more time with her family in Florida.”   Hauk will also be parting ways with Victoria’s Secret’s sister company, PINK, which she served as CEO as well. She will leave both positions at the end of March. Hauk was...

Starbucks has introduced a new item as part of its winter menu while cold drink popularity increases. On Tuesday, the Pistachio Cream cold Brew was unveiled. According to Starbucks’ website, the drink is described as, “Starbucks® signature cold brew sweetened with vanilla syrup, topped with a silky, pistachio cream cold foam and finished with salted brown-buttery sprinkles for a sweet treat to start up any winter...

Production has resumed at almost full capacity at the world’s biggest iPhone factory in Zhengzhou, China. Covid-19 restrictions and worker protests have “badly” disrupted production since October, according to the company.  The Henan Daily newspaper reported that by the end of December, the massive iPhone factory was running at 90% of the planned production capacity.  A huge wave of Covid cases came after China abruptly ended three...

Sam Bankman-Fried pleaded not guilty in New York Federal court on Tuesday morning to eight counts of wire fraud, securities fraud and conspiracy.  According to Yahoo Finance, if Bankman-Fried is convicted of these charges, he faces up to 115 years in prison.  Prosecutors allege that Bankman-Fried transferred billions of dollars in customer assets from his cryptocurrency exchange, FTX, to his trading firm, Alameda Research. The once-trusted and...

Americans have been experiencing relief from the record-high gas prices and inflation from earlier this year. In June, the average price of gas reached $5.01. Since then, prices have slowly come down but here is what experts predict will happen in 2023: GasBuddy, a website and app that provides real-time fuel prices in the United States and Canada, predicts Americans can continue to expect lower prices...

“Dry January” is when many people vow not to drink alcohol for the first month of the year to reset their relationship with alcohol after the holiday season. This month usually brings a “heightened level of attention to non-alcoholic drinks,” but according to the CEO of Athletic Brewing, non-alcoholic brews’ popularity is going to last beyond a single month.  According to Bill Shufelt, CEO of Athletic...