Business News

Friday night, Ticketmaster issued an apology to Taylor Swift and her fans after the pre-sale period for Swift’s “The Eras Tour” went terribly wrong.  Thousands of fans were left without tickets due to the Ticketmaster site freezing and crashing. The website was unprepared for the enormous traffic it received last week, even though it took measures to weed out bots and estimate how many fans would...

On Sunday, Disney announced the reappointment of Bob Iger as Chief Executive Officer, replacing Bob Chapek. Iger will take over the role immediately.  According to CNBC, this announcement comes just days after Chapek declared his plans to cut costs as the company’s earnings failed to meet expectations. Additionally, CNBC reported, “Shares of Disney have fallen about 41% so far this year, as of Friday’s close. The...

The relationship between the NBA’s Miami Heat/Miami-Dade County and bankrupt cryptocurrency exchange FTX has been terminated.  According to CNN Business, the FTX group, one of the most powerful players in the crypto industry, filed for bankruptcy in the United States last Friday. The CEO, Sam Bankman-Fried, also resigned.  In a joint statement on Friday, Miami Heat and Miami-Dade County admitted they are “extremely disappointed” about the situation....

Ticket sale website, Ticketmaster, is under investigation due to the many issues presented when Taylor Swift fans tried to buy tickets on Tuesday for her “Eras” tour.  An unbelievable amount of Taylor Swift fans flocked to the website with anticipation to purchase tickets during the pre-sale period, only to be met with the site freezing and crashing.  These issues led Tennessee Attorney General, Jonathan Skrmettian, to launch...

While other automakers have made the move to go all-electric, Toyota Motor introduced new versions of the Prius hybrid and Prius Prime on Tuesday. Both models are considered “electrified” not completely electric. “They continue to utilize gas-powered engines along with electric components that make the vehicles more fuel-efficient,” according to CNBC.  The new version of the Prius hybrid car has a noticeably different exterior. “It’s lower,...

Target released its third-quarter earnings results and admitted that inventory loss has reduced its gross profit margin by $400 million so far this year compared to 2021, according to Yahoo Finance.  In an email to Yahoo Finance, a Target Spokesperson said the inventory loss, or the disappearance of merchandise, was largely attributed to “organized retail crime.”  Target CFO, Michael Fiddelke explained during the earnings call that there...

Concerns about TikTok have been circulating throughout the United States for years. On Tuesday, FBI Director, Christopher Wray, warned lawmakers that he is “extremely concerned” about TikTok’s operations in the United States.  In Wray’s testimony to Congress, he said “We do have national security concerns, obviously from the FBI’s end, about TikTok. They include the possibility that the Chinese government could use it to control data...

Amazon announced on Tuesday that it is expanding its healthcare offerings and introduced Amazon Clinic.  “Amazon Clinic will operate in 32 states and provide virtual care for more than 20 common health conditions, such as allergies, acne, and hair loss,” according to Amazon’s website.  Amazon Clinic was created for “quick interactions with a clinician for a common health concern that can be easily addressed virtually,” Amazon claims.  Amazon...

John R. Tyson, the chief financial officer of Tyson Foods was arrested on Nov. 6 after entering the wrong home and falling asleep in a bedroom. Now, over a week later, he has addressed the situation. During an earnings call with investors on Monday, Tyson admitted, “I’m embarrassed and I want to let you know that I take full responsibility for my actions. I also want...

Last week, Amazon introduced Sparrow, a robotic arm that could one day assist warehouse workers with tedious tasks while improving safety in the workplace.  According to Amazon’s website, “Sparrow is Amazon’s new intelligent robotic system that streamlines the fulfillment process by moving individual products before they get packaged—a major technological advancement to support our employees.” Amazon explained that last year its “employees around the world picked, stowed,...