Business News

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...

The Southwest saga continues.  The federal government announced it would investigate why Southwest Airlines completely crumbled during the busiest time of the year.  Last week, Winter Storm Elliot wrecked travel plans and left thousands of people across the nation dealing with dangerous conditions including snow, ice and bitterly cold temperatures.  Many airlines were forced to delay and cancel flights due to the storm, however, Southwest Airlines experienced massive...

Apple is being sued again, this time for the alleged ineffectiveness of the Apple Watch blood oxygen reader.  The federal class-action lawsuit claims the blood oxygen sensor in the Apple Watch provides inaccurate results for people of color. USA Today reported, “The suit, filed Saturday on behalf of plaintiff Alex Morales in New York, draws on old and new pandemic-era literature that shows that pulse oximeter technology...

Winter Storm Elliott has swept through the nation resulting in record amounts of snow, bitterly cold temperatures, canceled flights and a death toll of at least 57.  This Christmas was expected to be one of the busiest periods for travel since before the pandemic. However, due to the storm, many flights got delayed or canceled resulting in disruptions in mail deliveries as well as many passengers...

Bob Iger resumed the position of Disney CEO in November and promised to “make big changes.” Now, according to bank analysts, those big changes will include parting ways with ESPN and ABC.  Bank analysts assume “Iger will shift the mass media and entertainment company’s focus to content and cost rationalization while spinning off broadcast network ABC and cable sports channel ESPN,” according to FOX. “Spinning off...

A Chick-Fil-A franchise in Hendersonville, North Carolina is in trouble. The store is accused of illegally paying some workers with meal vouchers instead of wages. Also, according to The U.S. Department of Labor (DOL), this store location also violated child labor regulations by allowing teenagers to do hazardous work.  After an investigation, the DOL fined the Chick-fil-A franchise $6,685. According to CBS News, “certain employees were asked...

As patients with the flu flock to doctors’ offices and hospitals around the nation, the Biden administration has decided to take action.  According to ABC News, the flu season came early this year and combined with surges of COVID-19 and RSV, or respiratory syncytial virus, over-the-counter pain relievers and medicines are hard to find.  CVS and Walgreens announced on Monday that a two-item and six-item limit would...