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AM Business Notebook

>>Weekly Jobless Claims Are Down

(Washington, DC)  --  Jobless claims are down.  The Department of Labor says it received 228-thousand first-time unemployment insurance claims for the week ending April 1st.  That's down about 18-thousand from the previous week.  Analysts say the decrease in jobless claims points to a continuously tight labor market in the U.S.

>>Elon Musk, Jack Dorsey React To Bob Lee Stabbing

(San Francisco, CA)  --  Tech moguls are reacting to the sudden death of Cash App founder Bob Lee.  The 43-year-old creator of the mobile payment app was found stabbed to death near downtown San Francisco early Tuesday morning.  Twitter CEO Elon Musk called the attack "horrific," and former Twitter chief Jack Dorsey, who now owns Cash App, called it "heartbreaking."  Lee's father, Rick Lee, wrote a tribute to his son on social media, and said "Bob would give you the shirt off his back" and "would never look down on anyone."  No arrests have been announced in connection with his death. 


>>Fed Interest Rate Hike Will Hit Black Workers Hardest

(Washington, DC)  --  The effects of the Federal Reserve continuing to raise interest rates will likely hit Black employees hardest. A Pew Research Center report shows that Black and Hispanic Americans feel effects of unemployment rates most when the economy takes a downturn. A senior researcher at Pew told CNN that jobless rates for those groups often increase more than their White counterparts during recessions.


>>Bed, Bath and Beyond Unveils 120-Million-Dollar Lifeline

(New York, NY)  --  Bed, Bath and Beyond is announcing a 120-million-dollar lifeline to stock its bare shelves. The chain hasn't had the funds to stock shelves as it works to avoid bankruptcy. Its CEO said in a statement in January that while Bed, Bath and Beyond worked quickly to try to attract shoppers back with new merchandising and marketing strategies, lack of inventory is why it failed to achieve its goals. ReStore Capital is putting up that money to increase stock at Bed, Bath and Beyond as well as buybuy BABY.


>>FedEx Announces Consolidate 

(Memphis, TN)  --  FedEx is consolidating.  The Memphis-based company says the Express, Ground, Services and other companies will operate under Federal Express Corporation.  The shipping giant says the plan, which is expected to increase efficiency, will be implemented in phases and be complete by June 2024.


>>Lamborghini Rolls Out Electric, V12 Hybrid

(Italy)  --  Lamborghini is rolling out an electric V12 hybrid.  The "Revuelto" -- meaning "mixed up" in Spanish --  refers to the combination of the combustion engine mixed with power of an electric battery.  The plug-in hybrid is a first for the company, and while the battery-only range is just six miles, the automaker plans to roll out fully electric vehicles by the end of the decade.  The Revuelto can blast up to 60 miles per hour in two-point-five seconds and reach a top speed of 219 miles per hour.  The car ships out later this year with a price tag of just over 542-thousand dollars. 

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