By Emma Nitzsche On Wednesday, General Motors announced a boost in spending on electric and autonomous vehicles. Known as the number one automaker in the United States, GM sold roughly 6.8 million vehicles under various brands last year. However, with more auto manufactures transitioning to electric vehicles, GM decided to increase EV spending. The company said it would spend $35 [...]
By Emma Nitzsche Cyber insurance providers are reevaluating their standards to provide insurance as ransomware threats become more prevalent and expensive. Earlier this week, the CEO of the Colonial Pipeline testified in front of the House Homeland Security Committee that he had utilized his cyber insurance carrier to pay the 4.4 million cryptocurrency ransom in May. [...]
By Emma Nitzsche FedEx announced a partnership with Nuro, a startup tech company that creates self-driving electric cargo vehicles, to integrate autonomous vehicles into its package delivery. The compact vehicle from Nuro, known as R2, was built to transport packages, groceries, and pizza deliveries. The company has a history of working with CVS, Kroger, and Domino’s [...]
By Emma Nitzsche Nationwide shortages are leaving consumers frustrated, but unlike many other businesses, the Girl Scouts of America faces a very different problem: a massive surplus of cookies. The 109-year-old organization is scrambling to sell over 15 million boxes of cookies before they expire in a year. Girl Scouts said it faced two critical challenges during [...]
By Emma Nitzsche On Monday, the U.S. Supreme Court dismissed a lower court ruling that would have permitted online businesses to scrape public information off of competitor’s websites. The popular job site LinkedIn said its up-and-coming competitor, hiQ Labs, was stealing information from LinkedIn user’s public profiles. HiQ used the data to alert employers when potential workers [...]
By Emma Nitzsche The most significant source of economic demand in the U.S., consumer spending, soared 4.2 percent after surging in March. But not every industry is cashing out in the post-pandemic spending spree. The Commerce Department reported a 1.3 percent drop in retail sales for May. In addition, the report showed consumers were purchasing less furniture, electronics, [...]
By Emma Nitzsche On average, the United States suffers seven ransomware attacks every hour. Last year, the country underwent 65,000 episodes, and the number is only expected to rise. "Ransomware attacks are only going to get worse and more pervasive into people's lives, and they're not disappearing anytime soon," said Allan Liska, an intelligence analyst at Recorded [...]
By Emma Nitzsche The adage that a new car loses half of its value as soon as it leaves the lot may not be true anymore. In the post-COVID market, consumers are keeping their cars longer, and dealerships are willing to pay high prices for used vehicles. According to HIS Markit, the average age of [...]
By Emma Nitzsche The popular coffee chain Starbucks is facing shortages of vital products as the nation emerges from quarantine. The company temporarily cut orders for at least 25 items on June 4 due to supply chain issues. Business Insider reported that the list included popular items like hazelnut syrup, toffee nut syrup, chai tea [...]
By Emma Nitzsche On Monday, Jeff Bezos announced he would join the winner of Blue Origin's auction and his brother on the New Shepard for its first passenger flight to space on July 20. Over 6,000 people have placed a bid so far, with the highest bid currently sitting at $4 million. The flight will depart [...]
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