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AM Business Notebook

>>Online Shopping Prices See Largest Annual Drop In 3 Years

(New York, NY) -- Online shopping prices are down, marking another sign that inflation is cooling off. Adobe Analytics reports e-commerce prices fell three-point-two-percent year over year in August. That's the largest annual dip in a little over three years. The catagories seeing the biggest drop in prices include sporting goods, applicances, and electronics. The Adobe report comes one day before the Consumer Price Index is released.


>>NY Fed: Fears Over Credit Access Hit Highest Level In Over A Decade

(New York, NY) -- A new survey shows more Americans are worried about access to credit as banks tighten their approval standards. According the New York Federal Reserve, nearly 60 percent of the respondents indicated it's harder to get loans, credit cards and mortgages now than it was a year ago. That's the highest level in more than a decade. The results were part of the Fed's Survey of Consumer Expectations for August.


>>Reports To Watch For

(Undated) -- Coming up this week, there are a few key economic reports to be on the look out for. Wednesday brings the consumer price index. The CPI numbers will help guide whether the Federal Reserve moves to raise interest rates again in November. Weekly jobless claims are due on Thursday, with a slight uptick in the forecast. The producer price index and retail sales data will also be out the same day. Consumer sentiment caps the week on Friday.


>>Apple Launch Event Today

(Cupertino, CA) -- Apple is set to unveil the latest iPhone today at the company's annual launch event. They're calling the event "Wanderlust" and it's expected to show off the iPhone 15 along with other new Apple products, including the latest Apple Watch and AirPods. The event is set for 10 a.m. Pacific time and will be streamed on YouTube and the AppleTV app.


>>Tech Giants To Attend Closed-Door Meeting With Senators Wednesday

(Washington, DC) -- Tech industry leaders will be on Capitol Hill this week to discuss artificial intelligence. Senators will hear from Elon Musk, Mark Zuckerberg, Bill Gates and others during a closed-door meeting Wednesday. This comes as Senate Majority Leader Chuck Schumer has prioritized bringing lawmakers up to speed on the rapidly advancing AI technology.


>>Stellantis Says Progress Made In UAW Talks

(Detroit, MI) -- Stellantis says they have made progress in contract talks with the United Auto Workers union, but the UAW says they are still far apart on pay. The company says it has reached tentative agreements in areas like health and safety as the current contract expires at 11:59 p.m. Thursday. The UAW wants a 46-percent pay hike and the elimination of tiered pay, while Stellantis has offered a 14-point-five-percent raise. Ford proposed a 15-percent raise, and General Motors offered ten-percent.


>>J.M. Smucker Buying Hostess Brands For $5.6 Billion

(Orrville, OH) -- Jelly maker J.M Smucker is buying snack brand Hostess in a multi-billion dollar deal. The maker of the popular Smucker's jelly announced Monday it will buy the Twinkies-maker for five-point-six-billion dollars. Smucker said the deal is a compelling expansion of its family of brands. Included in the purchase are popular Hostess brands like CupCakes, DingDongs, Zingers and HoHos. The purchase is the latest in a series of deals the packaged food industry has seen recently, including Campbell Soup buying the maker of Rao's sauces. >>Disney, Charter Reach New Deal (Burbank, CA) -- Nearly 15 million households will once again be able to watch Disney-owned channels like ESPN and ABC. Reports say the media company reached an agreement with Charter Communications. Disney pulled its channels from Charter Spectrum cable systems late last month after the two parties failed to reach a deal. The blackout prevented sports fans from watching high profile events like tennis' U.S. Open and threatened the first Monday Night Football game of the NFL season.

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