By Natalie Mojica On April 21st, CNN announced that it will shut down its streaming service, CNN+, on April 30th, just a month after its launch. CNN+ customers "will receive prorated refunds of subscription fees." CNN+ launched on March 28th at $5.99 a month or $59.99 a year, featuring popular talent like Fox News anchor Chris Wallace and original [...]
By Natalie Mojica On April 20th, the Florida legislature passed a bill that aims to dissolve the special district that allows the Walt Disney Company to be self-governing within the outer limits of Orange and Osceola counties. The bill was passed through the state Senate with a vote of 23-16 and then went through the state House [...]
By Natalie Mojica The Bureau of Labor Statistics reported the producer price index recently, a measure of the prices paid by wholesalers, and revealed that the prices that goods and services producers receive rose in March at the fastest pace in recorded history. The producer price index (PPI) has increased final demand increase 1.4% in [...]
By Natalie Mojica U.S. supply-chain pressures have caused record-high inventory costs and suggest rising inflation will continue. Colorado State University’s latest Logistics Managers’ Index, used as a measure to record these costs, showed that “continued inventory congestion has driven inventory costs, warehousing prices, and overall aggregate logistics costs to all-time high levels...putting even more pressure on already-constrained capacity.” Under [...]
By Natalie Mojica Following the announcement of Elon Musk’s recently acquired 9.2% stake in Twitter, it was reported that Musk will join Twitter’s board of directors. Twitter’s shares increased upwards of 7% to $53.63 in premarket trading after the report was released. Musk’s passive stake has made him the largest shareholder, with an investment worth approximately $3 billion. His [...]
By Natalie Mojica The Bureau of Labor Statistics reported that the unemployment rate for March was 3.6%, down from 3.8% a month earlier. Economists surveyed by Dow Jones only saw nonfarm payrolls expand by 431,000 when they expected 490,000. However, the labor force has grown by 418,000 workers and is currently within the 174,000 range of the pre-pandemic state [...]
By Natalie Mojica The Biden administration announced that the U.S. would release 1 million barrels of oil per day from reserves to help cut gas prices. President Joe Biden plans to use the country's Strategic Petroleum Reserve over the next six months starting in May to keep down rising gas prices until domestic producers increase their output. [...]
By Natalie Mojica The S&P CoreLogic Case-Shiller U.S. National Home Price Index revealed that home prices rose 19.2% in January since the year before, higher than the 18.9% annual increase in December. Phoenix, Tampa, and Miami were among the 20 cities with the highest annual gains. In Phoenix, home prices were 32.6% higher than the year before, [...]
By Natalie Mojica Sen. Maria Cantwell (D-WA), Chair of the Senate Committee on Commerce, Science, and Transportation, convened a hearing on developing next-generation technology for innovation on March 23. The hearing examined the relationship between American competitiveness and semiconductors. Witnesses included Pat Gelsinger, CEO of Intel, Sanjay Mehrotra, CEO of Micron, Tim Archer, President and [...]
By Natalie Mojica Adobe Analytics released its latest Adobe Digital Economy Index Report on March 15, revealing a dramatic increase in U.S. consumer online spending and a shift in Americans' grocery shopping habits. The report covered two years, beginning when lockdowns started in March 2020. Between then and February 2022, U.S. consumers spent $1.7 trillion, $609 billion [...]
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