Business News

The COVID-19 pandemic caused many offices to shut down which led employees to resort to working remotely.  During the pandemic, close to 70% of full-time workers started working remotely. There are obvious pros to working from the comfort of your own home. According to Pew Research Center and Apollo Technical Engineered Talent Solutions, working from home during the pandemic made it easier to balance work and...

Although in the past, Costco (NASDAQ-COST) has raised its membership fees every five and a half years, they are choosing to forgo the price hike as membership renewal rates reach an all-time high.Costco’s membership renewal rate rose .3% since last quarter, coming in at 92.6% at the end of the fourth quarter. Costco’s Chief Financial Officer, Richard Galanti, explained the decision not to raise fees during...

Fed-Ex (NYSE-FDX) withdrew its first quarter fiscal 2023 earnings forecast and posted a preliminary earnings report that did not look promising. The company has recently released a list of planned “cost reduction actions.” According to Commercial Appeal, these include “reducing flight frequency, reducing labor and operating hours, deferring staff hiring and closing more than 90 FedEx Office locations.”  Directly after the company made this announcement, Fed-Ex stock...

More meetings mean more work is getting done, right? Not quite. Microsoft’s (NASDAQ-MSFT) Work Trend Index reported the number of meetings the average employee participates in every day through its Teams software rose 153% during the spring in comparison to the beginning of the pandemic.  Constant remote meetings have forced workers to multitask like never before. Microsoft reported that “some 42% of survey respondents admitted to multitasking...

Politicians will need to find other ways to campaign before the midterm elections as TikTok has now banned political ads.  Political accounts have lost access to advertising features and monetization services (gift giving, tipping and eCommerce capabilities), reported by The New York Times.  Recently, TikTok has announced several steps they are taking to try to civilize and secure its platform.” This announcement comes after online falsehood researchers...

Apple Inc.’s (NASDAQ-AAPL) newest technology advancement is an exciting one, a headset that mixes virtual reality and augmented reality.  Exciting indeed, but skeptics are sure that Apple’s headset will have a lot to prove, considering the Virtual reality market is small.  This headset is seven years in the making and is expected to blow away Virtual Reality headsets made by Facebook, Sony, and HTC. Bloomberg reported that...

23-year-old Aiden Pleterski, also known as the “Crypto King,” is in trouble. CBC Toronto reported that Pleterski had $2 million worth of assets seized including a Lamborghini, two McLarens and two BMWs.  Pleterski is being sued by former investors in a bankruptcy proceeding and two civil lawsuits after claims that over $35 million given to Pleterski’s company by 140 investors vanished.  Of those 140 investors was a 65-year-old...

The Federal Reserve’s policy-making arm delivered the third hike in its short-term benchmark fed funds. More rate hikes are expected to come this year. Medora Lee from USA Today explained, “Although the Fed doesn’t directly control consumer interest rates, its rate increases ripple through the economy and ultimately, hit businesses and consumers and slow demand and inflation.” Economists anticipate the fed funds rate to reach 4.4% by...

Amazon’s (NASDAQ-AMZN) first broadcast of “Thursday Night Football” attracted a record number of signups for Prime. The number of signups trumped Prime Day, Black Friday and Cyber Monday. CNBC reported, “The matchup between the Kansas City Chiefs and the Los Angeles Chargers last week was the first of 15 games Amazon will broadcast as part of a deal with the National Football League. Amazon is spending...

The plant-based meat company, Beyond Meat (NASDAQ:BYND), appears to be in trouble. They had an epic year in 2020 with retail sales doubling compared to prior years, but the demand for plant-based meat isn’t what it used to be.  Beyond Meat was even named one of “3 Terrible Stocks to Avoid” by The Motley Fool. Many people are prioritizing saving money these days due to inflation. Beyond...