Business News

Americans have dealt with the stress of climbing prices for oil, gas and food for months. Now, after the Category 4 hurricane wreaked havoc across the state of Florida, some fear that prices will go even higher.  However, as far as oil and gas prices go, President Biden issued a stern warning to companies last week. “Do not, let me repeat, do not use this as...

Pumpkins might be harder to find this Fall season. Also, you better be prepared to pay a little more for them too.  Like the price of so many other goods, the cost of pumpkins has gone up due to inflation and increased fuel costs. But there’s something else causing people to shovel out a little more cash for pumpkins this season, drought. Maryland Farmer, Tammy Adkins, told...

Applying for jobs is stressful. You think you found the perfect job listing but there is one problem…the salary range is not stated. In California, companies are about to get a little more transparent about salaries, making this process easier and fairer for applicants. The Los Angeles Times reported that California Governor, Gavin Newsom, signed a bill last week that requires companies with 15 or more...

Bloomberg reported on Wednesday that Apple had cut production targets for the iPhone 14 by up to six million units.  The anticipated surge in demand for the iPhone 14 did not appear to meet expectations, leading Apple to back off on plans to boost production targets.  According to Bloomberg and CNET, “Apple told suppliers to dial back planned increases in manufacturing on the entire product line for...

Lionsgate (NYSE-LGF.A) stock rose about 1% Wednesday morning after talk of selling a stake in their studio business.  The reason for this change in strategy for the media and entertainment company was explained by CNBC. “Selling a stake in the studio to a private-equity firm or strategic company will set a valuation floor for the business to trade on its own. It would also bring an...

Kentucky Governor, Andy Beshear, and Ford officials announced on Tuesday that Ford will invest $700 million and create 500 new jobs at the Louisville manufacturing plant. This decision was made to support the production of its Super Duty Truck line. The Super Duty truck has been successfully produced since 1998. Currently, in its fourth generation, this upcoming design will be the first all-new Super Duty model...

During a company-wide all-hands meeting this week, Google CEO, Sundar Pichai, advised employees not to “equate fun with money.” Employees were upset and many news outlets described the meeting as “heated” as they discussed recent cost-cutting measures with Sundar Pichai.  Audio obtained by CNBC revealed that Pichai was hit with intense questions from employees about “cuts related to travel and entertainment budgets, managing productivity and potential layoffs.” As...

Floridians are scrambling to prepare for the potential destruction Hurricane Ian might bring as the storm passes through Cuba. Forbes reported that over 1 million homes along the Florida Gulf are at risk of destruction brought on by Hurricane Ian.  Additionally, Hurricane Ian has the potential to be one of the costliest storms in US history with a reconstructive cost value of approximately $258.3 billion (estimated by...

Alex Mashinsky has made the decision to resign from his position as CEO of Celsius Network. “I regret that my continued role as CEO has become an increasing distraction, and I am very sorry about the difficult financial circumstances members of our community are facing,” Mashinsky wrote in a resignation letter. Mashinsky founded Celsius Network in 2017 and soon achieved major cryptocurrency lender status. However, the “difficult...

Dara Treseder, Peloton’s head of marketing, is leaving the company to pursue the position of Chief Marketing Officer at Autodesk. Treseder’s resignation comes weeks after co-founders John Foley and Hisao Kushi also left the company. The loss of these three important Peloton team players is yet another challenge the company has faced recently. When Peloton went public in 2019, they were thriving. Shortly after, the pandemic hit and...