Business News Archives for 2024-11

AM Business Notebook

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after Wall Street touched record highs yesterday as investors shrugged off President-elect Trump's threat of new tariffs. Stocks rose after the latest Federal Reserve minutes called for gradual interest cuts rates in the future.  Eli Lilly shares advanced five percent after the Biden administration proposed expanding Medicare and Medicaid coverage to include anti-obesity drugs.  At the closing bell, the Dow Jones Industrial Average gained 123 points to 44-860, a new high.  The S&P 500 added 34 points to 60-21, also a new high.  The Nasdaq rose 119 points to 19-174.  Investors today will be keeping an eye out for data that includes the first revision of third quarter GDP, personal income and spending, along with weekly jobless claims - released a day early due to the Thanksgiving holiday.

 

>>Charlotte Airport Strike Over With No Word On Demands 

(Charlotte, NC)  --  Service workers at the Charlotte Douglas International Airport in North Carolina are back on the job after a 24-hour strike to start the busy travel week.  About 700 contracted employees with American Airlines went on strike Monday, demanding better pay.  According to a union rep, workers haven't been contacted about their demands yet.  Travel was not impacted by the brief work stoppage.       

 

>>Shoppers Expected To Spend Nearly $990-Billion During The Holidays

(Washington, DC)  --  The holiday shopping season unofficially begins this week with Black Friday.  The National Retail Foundation expects consumers will spend a record 989-billion-dollars during the holidays this year.  Black Friday is followed the next day by Small Business Saturday, with December 2nd marking Cyber Monday  

 

>>Instagram's Threads Sees Surge Coinciding With November Election

(New York, NY)  --  Instagram's Threads platform has nearly 35-million new users this month.  Meta has been trying to lure in users leaving X since Elon Musk's takeover of what used to be Twitter, and keep an edge over a similar new platform called Bluesky Social.  Threads' growth rate spiked this month, with 15-million users signing up between November 1st to 14th.  This comes as a flurry of users quit X after Musk aligned himself with President-elect Trump.

 

>>Rivian To Receive $6 Billion Loan To Build Georgia Factory

(Stanton Springs, GA)  --  Electric car maker Rivian is poised to receive a large federal loan to build its Georgia factory. The U.S. Department of Energy has announced they plan to give the startup a six-billion-dollar loan to start construction of the plant in southern Morgan and Walton counties. The loan is subject to approval and will require the car maker to adhere to certain conditions. The plant is expected to bring about 75-hundred jobs to the region and has been called the second-largest economic development project in state history. 
 

AM Business Notebook

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning on Wall Street after a higher close marked the start of what will be an abbreviated trading week.  At the closing bell, the Dow Jones Industrial Average hit a new record high, gaining 440 points to end at 44-736.  The S&P 500 added 18 points to 59-87.  The Nasdaq rose 51 points to 19-054.

 

>>Trump Announces Blanket Tariffs For Canada, Mexico, China

(Washington, DC)  --  President-elect Trump is vowing to impose new tariffs on Canada, Mexico and China on his first day in office.  Trump took to Truth Social Monday to say he would execute tariffs of 25 -percent on all Canadian and Mexican goods, with another ten-percent tariff to all Chinese goods.  Many Chinese goods already fall under tariffs imposted during Trump's first term.  Trump said that the tariffs are meant to boost border security and crack down on fentanyl being brought into the U.S. 

 

>>Airport Service Workers Go On Strike In Charlotte Ahead Of Thanksgiving Travel

(Charlotte, NC)  --  Service workers at Charlotte's airport in North Carolina have gone on strike just as the busy holiday travel season kicks off.  American Airlines contractors are striking over unfair labor practices and what they call poverty wages.  This comes as the TSA is predicting record Thanksgiving travel.  Those on strike include ramp workers, cabin cleaners, wheelchair attendants, lavatory workers and garbage truck drivers. 

 

>>Walmart Pulling Out Of DEI Initiatives

(Bentonville, AR)  --  Walmart is rolling back some of its diversity initiatives, pulling some LGBTQ-related merchandise and shutting down a non-profit that funds programs for minorities.  The nation's largest retailer is one of several companies pulling the plug on similar programs and efforts in the face of conservative backlash.  Walmart put out a statement Monday saying it's "willing to change alongside our associates and customers who represent all of America."  

 

>>Macy's Employee Hid Up To $154M In Expenses

(New York, NY)  --  Macy's says it's delaying the release of its third-quarter numbers after learning an employee intentionally hid up to 154-million-dollars in delivery expenses.  The retailer was set to release its earnings report Tuesday morning.  Wall Street uses those numbers to forecast the holiday shopping season.   Instead, Macy's put out preliminary findings Monday that showed it missed analysts' expectations.  An investigation by Macy's found that a single employee intentionally made erroneous accounting entries for almost three years to hide the millions in delivery expenses.  Macy's says the employee is no longer with the company and the company's third-quarter earnings will be released December 11th. 

 

>>Starbucks Forced To Manually Pay Employees

(Seattle, WA)  --  Starbucks is having to manually pay its employees after a ransomware attack crippled the third-party software system the company uses.  Blue Yonder, an Arizona-based cloud service, was hacked last week, disrupting some grocery stores and Fortune 500 companies.  Starbucks in the meantime has issued guidance on how to work around the outage and make sure everyone gets paid.  Blue Yonder says it's working around the clock to try and fix the problem.

 

>>Google Antitrust Trial Wraps Up

(Alexandria, VA)  --  Closing arguments are over in Google's second antitrust trial in two years.  The search giant and the Department of Justice wrapped things up Monday in federal court in Virginia, with government lawyers alleging Google has achieved a monopoly by buying up competitors and forcing publishers and advertisers to use its services.  Google argues that things are more complicated and that the company faces tough competition from companies like Microsoft, Meta and Amazon.  The judge will decide the case.  Google already lost one trial in August when the court found the company held an illegal monopoly over online searches.

 

>>New Study Ranks Most And Least Friendly States For Small Businesses

(Undated)  --  November 30th is Small Business Saturday and a new study ranks the most and least friendly states for small businesses.  Bankrate ranked states on several categories, including the robustness of small business activity, availability and quality of labor, business costs, access to capital, infrastructure, and taxes and regulation. Washington is ranked number one as the most business-friendly state, followed by Utah and Wyoming.  Louisiana is the least friendly state for small businesses, followed by Mississippi and Rhode Island.  

AM Business Notebook

>>Holiday-Shortened Trading Week 

(New York, NY)  --  The opening bell rings this morning after a positive week came to a close on Friday.  Tech stocks struggled but the major indexes posted weekly gains of more than one-and-a-half percent.  At the closing bell, the Dow Jones Industrial Average gained 426 points to 44-296.  The S&P 500 rose 20 points to 59-69.  The Nasdaq gained 31 points to 19-003.  This will be an abbreviated trading week, with markets closed for the Thanksgiving holiday on Thursday and trading wrapping up early on Friday.    

 

>>Economic Reports Coming Up

(Undated)  --  A few major economic reports are due out this week, but things get off to a slow start with nothing on today's lineup.  Minutes of the Federal Reserve's last meeting will be released Tuesday.  Most analysts are expecting to see the Fed cut interest rates again next month when the central bank meets for the final time this year.  Consumer confidence and new home sales data is also due out Tuesday.  Wednesday brings the first revision of third quarter GDP, weekly jobless claims and personal income and spending.  There's nothing on the calendar on either Thanksgiving or Friday.  

    

>>Millennials Say They Plan To Spend Big This Holiday Season 

(Undated)  --  As the season of giving approaches many Americans have already started their holiday shopping.  The generation planning to spend the most this year is Millennials according to a report by TransUnion.   With 63 percent of millennials saying they plan to spend the same or more on their holiday shopping than last year.  The National Retail Federation says between Nov. 1st and December 3rd holiday spending is expected to jump to a record 989-billion-dollars.  According to Deloitte's holiday retail survey. holiday shoppers are expected to spend eight percent more than last year for an average of nearly 17-hundred-80-dollars, 

 

>>Supreme Court Drops Facebook's Appeal Of Investors' Lawsuit

(Washington, DC)  --  The Supreme Court is tossing out an appeal by Facebook, allowing an investors' lawsuit to move forward.  The investors claim Facebook misled them about risks from a massive data breach.  The justices were unanimous, writing a one-line opinion on Friday that indicated the high court should never have taken up the case.  Investors sued Facebook when news broke that political consulting firm Cambridge Analytica improperly obtained data from 30-million Facebook users.  That led to a sharp drop in Facebook's stock price in 2018.  

 

>>meQuilibrium Predicts "Manager Crash"

(Boston, MA)  --  Dissatisfaction among middle management could become an issue in 2025.  That's according to digital coaching platform meQuilibrium, which predicts a "manager crash" in the coming year.  The company thinks there will be widespread burnout as middle managers feel less supported by their superiors.  

 

>>San Francisco Hotel Workers Hit Picket Lines

(San Francisco, CA)  --  More hotel workers have hit the picket lines in San Francisco.  About 500 hotel workers were picketing on Sunday, joining about two-thousand of their brethren who were already marching for a new contract.  Bellhops, cooks, dishwashers, servers and more have been on strike since late September, weeks after their contracts expired.  Workers want better wages and affordable health care.  Union leaders say they hope to continue negotiating with the hotels in question.

 

>>McDonald's To Sell McRib Sauce Jugs

(Chicago, IL)  --  Fans of the McDonald's McRib will soon be able to buy a jug of the sauce used on the famous sandwich.  The Golden Arches will start selling "A Whole Lotta McRib Sauce" jugs online today.  The jugs will cost about 20-bucks.  It's the first time ever McDonald's is offering the sauce for sale.  The release is to mark the return of the popular limited time menu item on December 3rd.
 

AM Business Notebook

>>Trading Week Winding Down

(New York, NY) -- The opening bell rings this morning after a higher close on Wall Street Thursday. At the closing bell, the Dow Jones Industrial Average gained 461 points to 43-870. The S&P 500 rose by 31 points to 59-48. The Nasdaq gained six points to 18-972.

 

>>Home Sales Rise Just Before Mortgage Rates Drop

(Washington, DC) -- Home sales are up. According to the National Association of Realtors, sales of previously owned homes went up three-point-four percent from September to October. That's also nearly three-percent higher than October 2023. It's the first annual increase in more than three years. That comes just before a sharp drop in mortgage rates bringing homebuyers off the fence after a slow summer.

 

>>Feds Want Google To Sell Off Chrome

(Undated) -- The Justice Department wants a federal court to force Google to sell off its popular Chrome web browser as part of an antitrust case. The request made Wednesday comes after a court ruled in August that the company holds a monopoly in the online search market. Department lawyers say that spinning off Chrome, used on billions of devices around the world, would help prevent an illegal monopoly from happening again. The request also asks that Google end exclusive contracts with third parties like Apple and Samsung that makes Google the default search engine on devices.

 

>>Weekly Jobless Claims Hit 7-Month Low

(Washington, DC) -- Fewer Americans than expected filed initial jobless claims in the week ending November 16th. The Labor Department on Thursday reported receiving 213-thousand first-time requests for unemployment benefits. That's down from the 219-thousand received the week prior, fewer than what most analysts had expected and officially a seven-month low.

 

>>Costs Down For Thanksgiving Meal

(Sacramento, CA) -- Turkey is among several Thanksgiving items that will be cheaper this year. A new report shows prices for several Thanksgiving items, including pumpkin pie mix, frozen peas, and sweet potatoes, have dropped since 2023. Turkey prices have also decreased by about 6-percent. However, processed items like stuffing, cranberries, and dinner rolls are expected to cost more this year. According to the American Farm Bureau Federation, a Thanksgiving feast for ten is estimated to cost 58-dollars-and-eight-cents. That's down five-percent from 2023.

 

>>Neuralink Gets Approval For Canadian Trials

(Fremont, CA) -- Neuralink, Elon Musk's brain computer chip company, is getting permission to start clinical trials in Canada. The idea of Neuralink is to help paralyzed people control devices with their thoughts. The company says that the Canadian trials will focus on looking at the safety and effectiveness of the chip in quadriplegics.

AM Business Notebook

>>Stocks Close Mixed

(New York, NY) -- Wall Street closed Wednesday with stocks mixed. This, as investors await the release of Nvidia's latest earnings report. Some expect the report to set the tone for the markets for the rest of the week. At the closing bell, the Dow Jones Industrial Average gained 139 points to 43-408. The S&P gained less than a point to 59-17. The Nasdaq fell by 21 points to 18-966.

 

>>Feds Want Google To Sell Off Chrome

(Undated) -- The Justice Department wants a federal court to force Google to sell off its popular Chrome web browser as part of an antitrust case. The request made Wednesday comes after a court ruled in August that the company holds a monopoly in the online search market. Department lawyers say that spinning off Chrome, used on billions of devices around the world, would help prevent an illegal monopoly from happening again. The request also asks that Google end exclusive contracts with third parties like Apple and Samsung that makes Google the default search engine on devices.

 

>>FL Man Arrested For Plotting To Bomb NYSE

(Coral Springs, FL) -- A Florida man is under arrest for allegedly plotting to bomb the New York Stock Exchange. Court documents say Harun Abdul-Malik Yener of Coral Springs wanted to "reset" the U.S. government. He was arrested Wednesday and charged with attempting to use an explosive device to damage or destroy a building used in interstate commerce. Yener got on the FBI's radar in February after agents received a tip he was storing bomb-making schematics in a storage unit. The complaint says he targeted the week of November 18th as the date to carry out the bombing.

 

>>Bitcoin Breaks $97K

(Undated) -- Bitcoin breached 97-thousand dollars for the first time Wednesday. The cryptocurrency first broke a record going over 95-thousand-dollars. Investors look to a second Donald Trump administration and potentially supportive regulations.

 

>>Indian Billionaire Indicted In NY In Solar Energy Scheme

(Brooklyn, NY) -- One of the world's richest men has been indicted in Brooklyn for allegedly defrauding investors in a sprawling solar energy project in India. Gautam Adani, an Indian billionaire and the Adani Group CEO, is charged along with seven other people of agreeing to pay more than 250-million-dollars in bribes to Indian government officials. The dirty money was supposed to grease the wheels for solar energy supply contracts worth billions of dollars. Adani and crew are also accused of conspiring to commit wire and securities fraud by obtaining funds from U.S. investors on the basis of "false and misleading statements."

 

>>Nvidia Nearly Doubles Revenue

(Santa Clara, CA) -- Nvidia is fresh off another record quarter. The computer manufacturing corporation generated sales two-billion dollars over estimates, with an almost 20-billion dollar net income in the three-month period ending last month. Despite the improved outlook, shares slipped as much as three-percent in afternoon trading.

 

>>Comcast Expected To Spinoff Cable Networks

(New York, NY) -- Comcast will be spinning off its cable networks. The media giant announced Wednesday that it's separating from CNBC, MSNBC and other Comcast networks. The new entity will reportedly be led by the current chair of NBCUniversal's media group. The spinoff is expected to take about a year.

AM Business Notebook

>>Stocks Close Mixed Amid Ukraine Worries

(New York, NY)  --  Wall Street closed mixed Tuesday after starting the session in the red.  Tech shares were the bright spot despite concerns about Russian warnings over Ukraine's use of longer-range missiles provided by the U.S.  Nvidia, Tesla, Amazon and Walmart all provided lift to markets as stocks erased most of the day's losses.  At the closing bell, the Dow Jones Industrial Average fell 120 points to 43-269. The S&P 500 rose 23 points to 59-17.  The Nasdaq gained 195 points to 18-987.  

 

>>Trump To Nominate Howard Lutnick As Secretary Of Commerce

(Washington, DC)  --  President-elect Trump is expected to nominate Cantor Fitzgerald CEO Howard Lutnick for Secretary of Commerce.  Lutnick is the co-chair of Trump's transition team.  He had been reportedly in competition with hedge fund manager Scott Bessent for the role of Treasury Secretary.

 

>>Housing Starts Fall In October

(Washington, DC)  --  Housing starts and building permits fell for the third straight month in October.  New government figures show residential construction starts fell just over three-percent last month to an annual rate of one-point-three million units.  Building permits, which signal future construction, fell just over a half-percent.  New home construction in October was down nearly four percent from one year ago.  

 

>>32 State AGs Urging Congress To Pass Kids Online Safety Act   (Tallahassee, FL)  --  More than 30 state attorneys general are joining a national effort to increase federal online protections for children.  The bipartisan coalition is urging Congress to pass the bipartisan Kids Online Safety Act before the end of the year.  The group says lawmakers need to address the growing crisis of youth mental health linked to social media use.  A letter was recently sent to Congress to highlight several ways to enhance online safety, including providing parents with tools to identify harmful behavior and requiring platforms to enable their own protections.  The latest move comes as many states have already launched investigations into popular social media companies.

 

>>Bose Acquires McIntosh

(Framingham, MA)  --  Bose is acquiring luxury audio brand McIntosh.  A release from Bose says the move will boost its current lineup. It doesn't appear that changes are set for existing products on either side, however, both companies are set to team up in the automotive division. The acquistion also includes stereo-maker Sonus faber. Financial terms of the deal were not disclosed. 

 

>>Frontier Adding New Routes In 2025

(Denver, CO)  --  Frontier Airlines is adding 16 new routes starting next year.  The budget carrier will be expanding across the U.S. and Caribbean at the same time competitor Spirit Airlines is filing for bankruptcy.  The new routes will be added in February and March across 21 airports, including Austin, Phoenix, Orlando, Los Angeles, Atlanta, Reno, Oklahoma City, Puerto Rico and more.

 

>>Most People Will Spend The Same Or Less Heating Their Homes This WInter

(Sacramento, CA)  --  Most U.S. households will spend about the same or less on energy this winter, but some states may face higher costs due to colder weather. According to the Energy Information Administration, states like Michigan, Missouri, Ohio, Illinois, and Kansas might see natural gas bills rise by 10 to 15 dollars per month. In contrast, states in the West, such as California, Washington, and Oregon, may actually save on their gas bills.  Electric heating may see a 2-percent increase, while natural gas prices will vary, with some areas dropping and others, like the Midwest, expected to rise by 11-percent.

AM Business Notebook

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed mixed on Wall Street Monday to start off the fresh trading week.  At the closing bell, the Dow Jones Industrial Average lost 55 points to 43-389. The S&P 500 rose 23 points to 58-93.  The Nasdaq gained 111 points to 18-791.  

 

>>Spirit Airlines Files For Bankruptcy

(Dania Beach, FL)  --  Spirit Airlines is filing for bankruptcy.  The budget carrier announced on Monday that it's reached a deal with bondholders for 300-million-dollars in financing to help it through bankruptcy, which it hopes to exit in early 2025.  The airline said service will continue normally and uninterrupted.  The company has been struggling with losses and a failed merger attempt.   

 

>>Earnings Reports Coming Up 

(Undated)  --  There are at least three noteworthy earnings reports to keep an eye out for this week.  Walmart kicks things off today with third-quarter results.  Chipmaker Nvidia follows the next day with its earnings report coming after the closing bell.  Farm equipment maker Deere & Company is in the spotlight Thursday.  

 

>>SpaceX Starship Test Flight Could Launch Today

(Brownsville, TX)  --  The next test flight of the SpaceX Starship rocket could launch today after yesterday's planned blast off was delayed.  Starship was designed to aid NASA in its upcoming lunar missions.  The last test was also the first time the company successfully "caught" the booster rocket as it descended to the ground after detaching from the Starship rocket.

 

>>SEPTA Strike Likely 

(Philadelphia, PA)  --  Hundreds of Southeastern Pennsylvania Transportation Authority workers could soon go on strike.  It comes as the transit agency and the SMART Local 1594 union failed to reach a new deal last night.  Workers  with the mass transit provider for the city of Philadelphia and four surrounding counties are looking for more money and increased safety measures.  SEPTA says they're facing a 240-million-dollar deficit and negotiations are expected to continue today.

 

>>Salvation Army Adapts Donation Methods

(Charleston, WV)  --  The Salvation Army is launching its annual red kettle campaign with some modern twists.  They're aiming to raise 250-thousand-dollars this holiday season, though they've struggled to meet goals in recent years.  The organization now offers digital payment options including Venmo, Google Pay, and Apple Pay through QR codes on kettle stands.  

 

>>Iowa Tops List of States Where Residents Reduce Their Debt

(Des Moines, IA)  --  A new national study ranks Iowa the number one state in the country where residents have reduced their debt.  The study looked at 300-thousand credit reports to identify changes in debt balances across all 50 states.  Chief credit analyst Matt Schulz [[ SCHULTZ ]] with Lending Tree says the research shows Iowans are paying off their debts strategically, such as those debts with higher interest rates.
 

AM Business Notebook

>>Wall Street Welcomes Fresh Trading Week

(New York, NY)  --  The opening bell rings this morning after trading wrapped up in the red on Wall Street Friday.  Concerns about interest rates further derailed the post-election rally.  Stocks tumbled with big tech and pharmaceutical shares leading the broad market decline.  At the closing bell, the Dow Jones Industrial Average fell by 305 points to 43-445. The S&P 500 fell by 78 points to 58-70.  The Nasdaq dropped by 427 points to 18-680.  

 

>>Economic Reports On The Horizon

(Undated)  --  Coming up in the business week ahead, things get rolling today with the home builder confidence index.  Chicago Fed President Austan Goolsbee, who serves as CEO and president of the Federal Reserve Bank of Chicago, will also be delivering opening remarks at the fall conference of the Bank's Financial Markets Group.  Tuesday brings word on housing starts and building permits.  Expect remarks from Fed governors Lisa Cook and Michelle Bowman the following day.  Existing home sales and weekly jobless claims are due Thursday with the week winding down with consumer sentiment data on Friday.  

 

>>Earnings Reports Coming Up 

(Undated)  --  There are at least three noteworthy earnings reports to keep an eye out for this.  Walmart kicks things off Tuesday with third-quarter results ahead of the opening bell.  Chipmaker Nvidia releases its results the following day after the markets close.  Farm equipment maker Deere & Company is in the spotlight Thursday.  

 

>>Judge Halts InfoWars' Sale To The Onion

(Houston, TX)  --  The judge in Alex Jones' bankruptcy case is holding up "The Onion's" acquisition of InfoWars.  On Wednesday, the satirical publication won a bankruptcy auction to take control of Jones' InfoWars.  During an emergency hearing in Houston on Thursday, the judge said he had concerns over how the auction was held and ordered a hearing be held next week to determine if it conducted fairly.  Although it's unclear exactly what the motive was, Elon Musk's social media platform petitioned the court the same day to be included in any future communications about the case.  "The Onion" won the auction with the backing of Sandy Hook families.  Jones was ordered to pay almost one-point-five-billion dollars to families of victims of the 2012 elementary school shooting in Newtown, Connecticut for repeatedly claiming the mass shooting was a hoax.  

 

>>Ford Agrees To $165-Million NHTSA Penalty 

(Washington, DC)  --  The National Highway Traffic Safety Administration has hit Ford Motor Company with the second-largest auto penalty ever.  The penalty comes from Ford failing to satisfy federal recall requirements.   Ford has agreed to pay 65-million-dollars in advance out of the 165-million-dollar-penalty the NHTSA said in a release.   The penalty was issued over Ford's failure to file timely recall reports for its faulty rollover safety cameras on many of its vehicles including Explorer SUVs and F-150 trucks.  The NHTSA reported 15 notices of the cameras showing blank screens. 

 

>>Taylor Swift Fans FIle New Ticketmaster Lawsuit

(Undated)  --  Hundreds of Taylor Swift fans are filing another lawsuit against Ticketmaster, accusing the company of colluding to drive of ticket prices.  The latest suit, filed Friday in California, charges Ticketmaster and its parent company Live Nation of "a pattern of racketeering activity" to make ticket buyers spend more than then were led to believe.  The suit claims Ticketmaster works with stadium venues and others to inflate prices.  This is on top of a federal suit by the Justice Department in an attempt to break up Ticketmaster for running an alleged monopoly.

 

>>SpaceX Starship Test Flight Could Launch Today

(Brownsville, TX)  --  The next test flight of the SpaceX Starship rocket could launch as soon as today.  If there aren't any delays, the massive 400-foot rocket could lift off this evening from the SpaceX Starbase near Brownsville.  This comes close to a month after the last test flight of the Starship rocket, the spacecraft that's expected to aid NASA in its upcoming lunar missions.  The last test was also the first time the company successfully "caught" the booster rocket as it descended to the ground after detaching from the Starship rocket.
 

AM Business Notebook

>>Trading Week Winds Down 

(New York, NY)  --  The opening bell rings this morning after stocks closed lower on Wall Street Thursday.  The down day came as Federal Reserve chairman Jerome Powell delivered remarks in Dallas and said the central bank doesn't need to be in a hurry to cut interest rates.  It's also as the postelection rally continues to lose steam after it pushed the major averages to new milestones.  At yesterday's closing bell, the Dow Jones Industrial Average fell by 207 points to 43-750. The S&P 500 fell by 36 points to 59-49.  The Nasdaq dropped by 123 points to 19-107.  

 

>>Weekly Jobless Claims Trend Lower

(Washington, DC)  --  Weekly jobless claims fell in the week ending November 9th.  The Labor Department reported Thursday that it received 217-thousand initial requests for unemployment benefits.  That's down from 221-thousand the week prior and not far off from the 220-thousand most analysts had been expecting.      

 

>>Dept Of Government Efficiency 

(Washington, DC)  --  The new Department of Government Efficiency is looking for employees.  The department, which Donald Trump announced will be led by Elon Musk and Vivek Ramaswamy, posted on social media that it's looking for "super high-IQ small-government revolutionaries willing to work 80-plus hours per week on unglamorous cost-cutting."  Musk re-tweeted the post and commented "this will be tedious work, make lots of enemies, and compensation is zero."  The social media post says interested applicants can DM the department account on X. 

 

>>Advance Auto Parts Closing 700 Stores

(Raleigh, NC)  --  Advance Auto Parts is closing more than 700 locations nationwide.  The North Carolina based retailer says the closures are part of its business-restructuring plan.  Roughly 500 corporate stores and 200 independently owned stores will close by mid-2025.  It's not clear yet which locations will shut down, but there are about 250 stores in Ohio alone.  The company has about 48-hundred locations nationwide.

 

>>Disneyland's Tiana's Bayou Adventure Opens Today 

(Anaheim, CA)  --  Disneyland is getting ready to open its newest attraction.  Tiana's Bayou Adventure, which is based on the animated film "The Princess and the Frog," officially opens to the public today.  The ride picks up after the events of the movie and lasts about ten minutes.  There will be a virtual queue for the first few opening days of Tiana's Bayou Adventure, which can be joined through the Disneyland app. 
 

AM Business Notebook

>>Ahead Of The Bell (New York, NY) -- The opening bell rings this morning after stocks closed mixed on Wall Street. This comes as the post-election rally cooled down on Wednesday as investors mulled over a key inflation report. Last month's consumer price index showed inflation accelerated, right in line with expectations. Investors today will be keeping a look out for the producer price index, along with weekly jobless claim. At yesterday's closing bell, the Dow Jones Industrial Average gained 47 points to 43-958. The S&P 500 gained one point to 59-85. The Nasdaq dropped by 19 points to 19-230.

 

>>Polymarket CEO's Home Reportedly Raided By FBI

(New York, NY) -- Betting platform Polymarket is calling an FBI raid on its CEO's home "obvious political retribution" for predicting Donald Trump's election victory. The FBI reportedly raided the Manhattan home of CEO Shayne Coplan Wednesday, seizing his phone and other electronic devices. The Justice Department is investigating the company for allegedly allowing U.S.-based customers to make trades on the platform in violation of restrictions. A spokesman for the company suggested it was because of correctly calling the election for Trump.

 

>>Meta To Face Trial In Antitrust Case Brought By FTC

(Menlo Park, CA) -- Meta will face trial in an antitrust case brought by the FTC over its acquisitions of Instagram and WhatsApp. A federal judge issued an order denying the Mark Zuckerberg-led company's request to drop the case. The FTC sued Meta in 2020, accusing the social media giant of having an illegal monopoly on social networking. Meta has denied those allegations and said it would review the judge's opinion when filed.

 

>>JPL Lays Off Hundreds Of Workers

(Pasadena, CA) -- NASA's Jet Propulsion Laboratory in Pasadena, California is laying off workers for the second time this year. An estimated 325 employees were let go on Wednesday. That's about five percent of JPL's workforce.

 

>>23andMe Announces Layoffs

(South San Francisco, CA) -- Genetic testing company 23andMe says it's cutting 40 percent of its workforce. That's about 200 jobs. The company on Tuesday warned that it has "substantial doubt" about its ability to keep operating. The company's share price has fallen 70 percent this year and is considering licensing or selling therapies it has developed using its collected genetic information.

AM Business Notebook

>>Ahead Of The Bell

(New York, NY) -- The opening bell rings this morning after stocks closed lower on Wall Street Tuesday. Boeing and 3M shares weighed on markets as the major indexes retreated from post-election record highs. At the closing bell, the Dow Jones Industrial Average fell 382 points to 43-911. The S&P 500 lost 17 points to 59-84. The Nasdaq lost 17 points to 19-281.

 

>>Key Inflation Gauge Out Today

(Undated) -- A key reading on the state of inflation comes out today with the release of the consumer price index. That's followed by the producer price index on Thursday, along with weekly jobless claims. Retail sales numbers bring the week to a close on Friday.

 

>>Frontier Pilots Picket Outside Corporate Office

(Denver, CO) -- Dozens of pilots are taking a stand against Frontier Airlines. The pilots picketed outside of Frontier Airlines headquarters in Denver Tuesday as part of an informational picket. Alan Christie, a pilot with the airline, said Frontier needs to "step up and recognize the value" the pilots bring, saying they want to work and not strike. Pilots have been negotiating a new contract with Frontier for roughly a year, with it being almost six years since a new deal was given.

 

>>Wendy's To Close Stores

(Dublin, OH) -- A popular fast food chain is closing many of its stores. Wendy's says 140 underperforming and outdated stores across the country will close by the end of the year. The company says it will then focus on building new restaurants to create "the best restaurants for customers." Currently, there are just over six-thousand Wendy's locations across the country.

 

>>Delta Air Lines Says Trump Presidency Could Be Good for Airline

(Atlanta, GA) -- The CEO of Delta Airlines says the upcoming Trump presidency could be good for the airline. CEO Ed Bastian tells the Atlanta Journal Constitution the first Trump presidency worked well for Delta, and he expects similar results the second time. Bastian said Trump is a strong supporter of U.S. airlines and U.S. jobs and knows the flight industry well. Business leaders across the country are currently assessing what changes could come with regulations with the changing of power at the White House.

AM Business Notebook

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed higher to start the week.  Stocks extended the post-election rally as the Dow Jones Industrial Average closed above 44-thousand at a new record high.  Financial shares including JPMorgan Chase, Goldman Sachs and Citigroup helped lift markets as tech shares lagged.  At the closing bell, the Dow gained 304 points to 44-293.  The S&P 500 rose five points to 60-01.  The Nasdaq added 12 points to 19-298.

 

>>New Laws To Mitigate Travel Headaches

(San Diego, CA)  --  New laws will hopefully help you mitigate travel headaches this holiday season.  They're supposed to help you during delays, cancelations, and lost luggage.  Refunds for canceled or significantly delayed flights are now automatic and supposedly you won't have to jump through hoops to get your money back.  And if your checked bag arrives more than 12 hours late, you're entitled to a refund for the baggage fee. Travel experts say you should use a luggage tracker like an Apple airtag.

 

>>Boeing Employees Prepare For Cuts

(Seattle, WA)  --  The machinists strike is over at Boeing and now employees are bracing for layoff notices.  Boeing plans to cut ten percent of its workforce, which would be around 17-thousand workers.  Layoff notices could go out this week.  Boeing's CEO says the company has lost 25-billion-dollars since 2019 following whistleblower reports, safety issues, and congressional hearings.  Boeing has not said where the layoffs will be made.  

 

>>Noteworthy Earnings Reports

(Undated)  --  Some noteworthy earnings reports are scheduled for release today.  They include Spotify, Home Depot, Instacart and Tyson Foods.  Numbers from Cisco Systems are due on Wednesday, with Disney's eagerly-anticipated results out the next day. 

 

>>NY State Comptroller Leads CrowdStrike Suit 

(Albany, NY)  --  New York State Comptroller Tom DiNapoli is leading the investors' lawsuit against Texas-based CrowdStrike after last summer's massive computer outage.  The outage disrupted banks, airlines, supermarkets and many other industries costing billions, with CrowdStrike's failed software update blamed.  CrowdStrike's stock plummeted and DiNapoli is leading the class action suit on behalf of investors including the NY State Common Retirement Fund, of which he is a trustee and which serves about a million government employees.  DiNapoli argued "CrowdStrike misled investors by falsely touting its safeguards and quality assurance." 

 

>>Allegiant Air Pilots Vote To Authorize Strike

(Las Vegas, NV)  --  The pilots of Allegiant Air are voting in favor of a strike.  The Teamsters Union, which represents 13-hundred Allegiant Airlines Pilots, says members have voted to approve a strike if a new agreement isn't reached.  If there is a strike, it could disrupt holiday travel because it won't start for a couple of weeks. Allegiant is a Las Vegas-based low-budget carrier.

 

>>SpaceX Tied Reusable Booster Record

(Cape Canaveral, FL)  --  SpaceX is celebrating a record-tying launch of its Falcon 9 boosters.  Monday's launch that carried a Korean communications satellite into space was the 23rd for the first-stage booster.  That ties the mark set by two other Falcon 9 boosters that are both out of service.  The reusable booster landed about seven miles away at Cape Canaveral Space Force Station.  It was a busy day for SpaceX, as later it launched a second a Falcon 9 rocket into space -- this one carrying another batch of Starlink satellites into orbit. 

 

>>Halo Power Stations Recalled Over Fire Risk

(Washington, DC)  --  Portable Halo power stations are being recalled because they pose a fire risk.  The Consumer Product Safety Commission says more than 57-hundred of the Halo 1000 power stations are being recalled because they have lithium batteries that have been connected to fires.  A 79-year-old man in Bradenton, Florida died of smoke inhalation following a 2022 fire involving one of the power stations.  Consumers are being told to stop using the power stations immediately.  They can call the Halo recall hotline and get a free replacement. 

AM Business Notebook

>>Ahead Of The Bell 

(New York, NY)  --  While today is Veterans Day, both the New York Stock Exchange and Nasdaq will operate as usual.  The bond markets, however, will be closed for the holiday.  As trading came to a close on Friday, Wall Street wrapped up a banner week after President-elect Trump's election victory.  Stocks also got a boost from the Federal Reserve's decision to lower interest rates by a quarter percent.  The Dow Jones Industrial Average topped 44-thousand for the first time ever while the S&P 500 hit six-thousand during Friday's session.  At the closing bell, the Dow gained 259 points to 43-988.  The S&P 500 rose 22 points to 59-95.  The Nasdaq added 17 points to 19-286.

 

>>Coming Up In The Business Week Ahead

(Undated)  --  Coming up in the business week ahead, things on the economic report front are quiet today.  Tuesday brings word on the National Federation of Independent Business optimism index.  That will be followed by the consumer price index - a key measurement of inflation - on Wednesday.  The producer price index comes out Thursday, with retail sales numbers bringing the week to a close on Friday. 

 

>>Most Americans Expect National Debt To Rise Under Trump

(Washington, DC)  --  A majority of Americans expect the national debt to go up under President-elect Trump. That's according to a new Reuters/Ipsos survey after the election. It found that 62-percent said his proposals "will push the U.S. national debt higher." About one in three Republicans said so and 94-percent of Democrats think Trump will bring the debt higher. Another survey from the Wall Street Journal shows that economists expect higher inflation and interest rates under Trump's agenda.

 

>>Tesla Hits $1 Trillion Market Cap In Friday Trading

(New York, NY)  --  Tesla is now a trillion dollar company.  Shares of the electric vehicle maker climbed surged eight percent in Friday trading to push its market cap past one-trillion dollars for the first time.  The company's stock rallied about 27 percent last week as former President Trump won the election.  Tesla joins a growing club of big tech names including Apple, Mircrosoft, Alphabet and Amazon that are worth more than a trillion dollars.

 

>>Earnings Reports Due This Week

(Undated)  --  While there are several noteworthy earnings reports on the horizon this week, things will get off to a quiet start today.  That changes Tuesday with results coming in from Spotify, Home Depot, Instacart and Tyson Foods.  Look for numbers from Cisco Systems on Wednesday, with Disney's eagerly-anticipated results coming out Thursday. 

 

>>Stellantis To Cut 400 Workers At Detroit Warehouse

(Detroit, MI)  --  Stellantis plans to cut 400 workers at a warehousing facility in east Detroit next year.  The cuts could occur as early as January 5th.  It will be the latest in a series of cuts from the automaker, which has laid off hundreds of workers at plants around Metro Detroit.  Just last week, Stellantis also announced that it was laying off about eleven-hundred workers at a Jeep plant in Toledo, Ohio. 
 

AM Business Notebook

>>Ahead Of The Bell

(New York, NY)  --  The opening bell rings this morning after a mixed finish for Wall Street Thursday.  At the closing bell, the Dow Jones Industrial Average fell less than a point to 43-729.  The S&P 500 rose by 44 points to 59-73.  The Nasdaq gained 285 points to 19-269.  

 

>>Fed Lowers Interest Rates Again  

(Washington, DC)  --  The Federal Reserve is lowering interest rates by a quarter point.  Thursday's decision follows a 50-basis points reduction earlier this fall -- the first lowering of rates in four years.  It comes on the heels of some positive signs that inflation is cooling.  In announcing the move, Fed Chairman Jerome Powell also made clear yesterday that he has no intention of stepping down should he be asked to by President-elect Donald Trump.  His current term lasts until 2026 and given their somewhat strained relationship in the past, it's not expected that Trump will re-appoint him.  

 

>>Nvidia Joins Dow Jones Industrial Average

(Santa Clara, CA)  --  Nvidia is joining the Dow Jones Industrial Average.  Effective today, the AI chip-maker will replace competitor Intel on the index.  Shares of Nvidia hit a record high on Thursday, making it the first company ever to top a stock market value of three-point-six trillion dollars.  

 

>>Max To Crackdown On Password Sharing

(New York, NY)  --  Streaming service Max will start to crack down on password sharing in the coming months.  The CFO of Warner Brothers Discovery said in an earnings call Thursday that the plan will ramp up into 2025 and 2026.  The initial rollout will start with what the company calls "very soft messaging.

 

>>UAW In Belvidere, Illinois Vote To Authorize Stellantis Strike

(Belvidere, IL)  --  United Auto Workers in Belvidere, Illinois could be headed for a strike.  UAW members voted yesterday to authorize a strike against Stellantis.  The vote comes after UAW claimed the automaker is backing out of an agreement to reopen the Belvidere assembly plant.  Stellantis said it delayed the reopening due to market conditions.   

 

>>A24's "Heretic" Could Land Number One Spot At Box Office

(Undated)  --  A24's new horror film "Heretic" may land the top spot at the box office this weekend.  The film starring Hugh Grant is projected to make around eight-million-dollars in its debut.  Meanwhile, "Venom: The Last Dance" is set to make around 12-million in its third weekend.  However, some analysts expect "Heretic" to blow past projections and finish on top.

AM Business Notebook

>>Stocks Soar On Trump Win 

(New York, NY)  --  The opening bell rings this morning after stocks closed sharply higher Wednesday following word of Donald Trump's election victory.  At the closing bell, the Dow Jones Industrial Average gained 15-hundred-08 points to 43-729, marking a record high.  Also notching respective records - the S&P 500 gained 146 points to end at 59-29 and the Nasdaq added 544 points to finish the day at 19-983. 

 

>>Federal Reserve Expected To Announce Another Rate Cut.

(Undated)  --  The Federal Reserve wraps up a two-day meeting today with a highly-anticipated announcement on interest rates.  Most analysts predict the central bank will cut rates by a quarter point, or 25 basis points.  That would follow a 50-basis points reduction earlier this fall - the first lowering of rates in four years.  Today's decision will be announced at 2pm Eastern time, followed by remarks from Fed Chair Jerome Powell.  

 

>>Musk's Net Worth Surges Following Trump Win  

(Undated)  --  Elon Musk's net worth is surging after Donald Trump's election night victory.  The Tesla CEO, who went all in on his support of the now President-elect, saw the automaker's stock surge Wednesday, sending his net worth up at least 20-billion-dollars.  Musk is currently the richest man on the planet.

 

>>Strike May Be Looming For SEPTA 

(Philadelphia, PA)  --  Thousands of Southeastern Pennsylvania Transportation Authority workers might go on strike later this week.  SEPTA is one of the largest rapid transit systems in America in terms of ridership and is the major transit provider for the city of Philadelphia as well as several surrounding counties.  Members of the Transportation Workers Union Local 234 are seeking a new contract with the transit agency.  Workers are trying to get pay raises and see the agency increase its safety efforts as well.  SEPTA agreed to a one-year deal last November to avoid a strike.

 

>>Starbucks Rolls Out Holiday Menu 

(Seattle, WA)  --  Starbucks is rolling out its holiday menu.  Some old favorites making a return include the peppermint mocha and a trio of lattes: caramel brulee, chestnut praline and iced sugar cookie almondmilk.  Three new cranberry-inspired refreshers are also making their debut on the holiday menu this year.

 

>>American Freight Discount Furniture Stores Set To Close

(Kettering, OH)  --  All of the American Freight discount furniture stores are set to close.  The chain's parent company, Franchise Group, is shuttering well over 300 outlets across the nation as they file for Chapter Eleven bankruptcy protection.  The stores are now running closing sales.
 

AM Business Notebook

>>Ahead Of The Bell: Post-Election Day 

(New York, NY)  --  Wall Street is poised to open higher this morning after closing the same way on Tuesday.  Stocks gained ground in a broad rally as, among other things, investors await the Federal Reserve's November rate cut decision on Thursday.  At the closing bell, the Dow Jones Industrial Average gained 427 points to 42-221.  The S&P 500 added 70 points to 57-82.  The Nasdaq rose 259 points to 18-439.

 

>>Dow Futures Jump On Trump News 

(New York, NY)  --  Stock futures are rising sharply as investors react to former President Donald Trump's projected victory in the 2024 election.  Futures on the Dow Jones Industrial Average have been up well in excess of 900 points at times overnight.  Also of note, the social media company Trump Media & Technology Group surged 40-percent in pre-market trading.   

 

>>Kroger Settles Over Opioid Crisis

(Salem, OR)  --  Kroger has settled with 30 states that sued over the company's involvement in the opioid crisis.  As a result, the company will pay nearly one-point-four-billion dollar to the states with the first payment due next year.

 

>>Mazda Recalls Over 150K Vehicles

(Hiroshima)  --  Mazda is recalling over 150-thousand new and recent vehicles over several issues.  The Japanese automaker says it's recalling about 80-thousand of its CX-70 and CX-90 models over an issue with an electrical supply unit.  It's recalling about 38-thousand of its CX-90 vehicles over a software issue that may cause the engine to stop after idling.  And Mazda says another 31-thousand CX-70 and CX-90 models are being recalled for a software issue that could cause "a loss of drive power."  

 

>>Dollar Tree CEO Steps Down

(Chesapeake, VA)  --  Dollar Tree is going through some major changes as its CEO says he's stepping down. Rick Dreiling has announced he's stepping down from the company saying he's going to focus on himself and his family. Dreiling has served as CEO since 2022. The company's acquisition of Family Dollar stores in 2015 have proved to be unfruitful as revenue and shares of the company have plunged recently. And this year, more than 900 Dollar Tree locations closed. Michael Creedon Jr., the COO has been appointed interim CEO while the company looks for a permanent replacement. 

 

>>Home Depot Co-founder Bernard Marcus Dead At 95

(Undated)  --  Home Depot co-founder Bernard Marcus is dead at the age of 95.  The company made the annoucement on Tuesday.  Marcus and Arthur Blank founded Home Depot in 1978 which helped grow his net worth to around seven-point-four-billion.  He was also known for being a major Republican donor having given millions of dollars to campaigns over the years including to former President Trump.  

AM Business Notebook

>>Ahead Of The Bell  

(New York, NY)  --  The opening bell rings this morning after a lower close on Wall Street started off the week.  Stocks lost ground in choppy trading as investors brace for today's presidential election and a potential Federal Reserve rate cut later this week.  At yesterday's closing bell, the Dow Jones Industrial Average fell 257 points to end at 41-794.  The S&P 500 lost 16 points to 57-12.  The Nasdaq slipped 60 points to 18-180.

 

>>Boeing Workers Vote To End Strike

(Arlington, VA)  --  The Boeing strike is over.  Workers with the International Association of Machinists union voted Monday to accept the airplane manufacturer's latest offer, ending the most expensive U.S. strike in a quarter-century.  The latest offer came after two previous rejections and was approved by 59 percent.  It'll give workers a 43 percent raise over four years but it does not include the return of a pension plan, a sticking point in previous offers.  The nearly two-month long strike is estimated to have cost Boeing more than six-and-a-half billion dollars.

 

>>The New York Times Tech Workers Go On Strike

(New York, NY)  --  The New York Times Tech Guild is on the strike.  The union made the announcement Monday in a post on X. It comes following a contract dispute with the newspaper and one day before the general election.  The guild says it's entered the third year of contract negotiations and is fighting for things like better wages, hours, benefits and job security.  The union represents over 600 tech workers involved in news, podcasts, games and more. A spokesperson for the Times told NBC News that it's disappointed at the timing of the strike noting that talks are ongoing. 

 

>>You Can Take Advantage Of Election Day Discounts 

(San Diego, CA)  --  A number of businesses are celebrating election day with special deals.  Krispy Kreme is giving away free doughnuts.  Lyft and Uber are offering discounted rides to polling stations.  Uber is also offering a 25-percent discount on Uber Eats.  Dave & Buster's is offering half-priced games and even Ikea wants to celebrate voters with free frozen yogurt.  

 

>>Nvidia Joining Dow Jones Industrial Average

(Santa Clara, CA)  --  Nvidia is joining the Dow Jones Industrial Average.  The AI chip-maker will replace competitor Intel on the index.   The change takes effect on Friday, November 8th.

 

>>Ford Sales Up 15% In October Compared To 2023

(Dearborn, MI)  --  Ford Motor is reporting an increase of 15-percent in new vehicle sales last month compared to October 2023.  A union strike impacted overall sales last fall.  Ford trucks led the way with a 29 percent year-over-year gain, while sales of hybrid vehicles were up 38 percent last month.  EV sales slipped eight percent.  Ford's total U.S. sales rose nearly four percent through October to more than one-point-seven million vehicles.

AM Business Notebook

>>Coming Up In The Business Week Ahead

(Undated) -- Election Day isn't the only thing that will be making headlines this week. The Federal Open Market Committee kicks off a two-day meeting Wednesday with an announcement on interest rates coming the following day. Most analysts predict the central bank will cut interest rates by a quarter point, or 25 basis points. That would follow a 50-basis points reduction earlier this fall - the first lowering of rates in four years.

 

>>Striking Boeing Machinists Set To Vote On New Contract Offer (Seattle, WA) -- Boeing machinists will be voting today on a new contract offer that could end weeks-long strike. The International Association of Machinists, which represents about 33-thousand workers, has endorsed a tentative deal that would offer 38 percent wage raises over four years. Union members, however, also want their pension plan to return - something the new offer does not include.

 

>>New York Times Tech Union Threatens To Strike Ahead Of Election Day

(New York, NY) -- Hundreds of tech workers at "The New York Times" are threatening to walk off the job ahead of Election Day. The New York Times Tech Guild announced Friday that in order to avoid a strike, an agreement needs to be reached before the election. The guild says it has entered the third year of contract negotiations and is fighting for things like better wages, hours, benefits and job security. The Tech Guild is made up of about 700 tech workers who construct the newspaper's most profitable products like its website and podcasts. A New York Times Company spokesperson said that the company will work with the guild to reach an agreement.

 

>>TGI Fridays Files For Bankruptcy

(Houston, TX) -- TGI Fridays is filing for bankruptcy. The American casual dining chain filed for bankruptcy protection Saturday in a Texas court. In a statement, the executive chairman of TGI Fridays said the COVID-19 pandemic and the company's capital structure were the "primary driver" of the financial challenges. The filing impacts TGI Fridays' parent company, which operates 39 restaurants. These locations will remain open as the bankruptcy proceedings move forward.

 

>>Starbucks Releases Its Cups For The 2024 Holiday Season

(Undated) -- Starbucks has unveiled its new holiday cup collection. The holiday cup theme this year is "Merrier Together." The collection includes four hot cups and one cold cup. The cup names are Warm Wishes, Joyful Connection, Lyrical Landscape, Siren Chorus and the Holiday Cold Cup.

 

>>November Is A 3-Payday Month

(Undated) -- For some employees who get paid every other week, November is a three-payday month, coming just in time for the holidays. Matthew Goldberg with Bankrate says three-payday months generally happen twice per year. His advice is to budget for the typical two-payday month throughout the year so the extra paycheck feels more like a bonus.

AM Business Notebook

>>Trading Week Winding Down

(New York, NY) -- The opening bell rings this morning as Wall Street welcomes a fresh trading month while the trading week itself winds down. Stocks closed sharply lower Thursday as investors continue to digest earnings reports from big technology companies. Microsoft posted disappointing revenue guidance and Meta Platforms failed to reach expectations for user growth. At the closing bell, the Dow Jones Industrial Average fell by 378 points to 41-763. The S&P 500 dropped by 108 points to 57-05. The Nasdaq lost 512 points to 18-095.

 

>>Cold Weather States Rank High For Employment

(New York, NY) -- A new report examines which states are most attractive for employment in 2025. If cold weather is not a problem for you than you're in luck, because the top five states in the country for employment are New Hampshire, Vermont, Minnesota, Massachusetts and North Dakota. That's according to WalletHub which compared the 50-states across 34 key indicators of job-market strength and economic health. The data set ranges from employment growth to the median annual income, to the average commute time, to worker protections. The worst states for employment West Virginia, Louisiana, Indiana, Kentucky and Alaska.

 

>>Boeing Strikers To Vote Monday

(Seattle, WA) -- Boeing machinists will vote on a new contract offer Monday. The union has been on strike since September 13th. They've rejected several offers that union leadership thought would pass. The latest offer would raise wages 38 percent over four years, which is a compound increase of 43 percent. The union originally wanted a 40-percent increase. Union members also want their pension plan to return. The new offer doesn't include that.

 

>>Ford to Pause F-150 Lightning Production Amid Slower EV Demand

(Dearborn, MI) -- Ford is set to idle its F-150 Lightning plant in Dearborn, Michigan from mid-November until January due to slower-than-expected demand for electric vehicles. The production pause will impact around 800 workers. Ford's shift in EV strategy comes as the company reports continued losses in its EV segment and faces a challenging market, with CEO Jim Farley citing a global EV price war and an influx of new competitors. Ford is now focusing on cost control and adjusting battery production to maximize tax credits.

 

>>Nexus Capital Management Buys Big Lots

(Columbus, OH) -- Big Lots is being sold to Nexus Capital Management. The discount retail chain filed for bankruptcy earlier this summer. It was recently sold for 765-million dollars. Nexus Capital Management also has ties to Dollar Shave Club, Toms, and many others. It's expected to take over Big Lots stores in December.

 

>>L.A. County Sues Coca-Cola, PepsiCo

(Los Angeles, CA) -- Los Angeles County is suing Coca-Cola and PepsiCo for plastic pollution. The lawsuit, announced Wednesday, claims the companies deceived the public about their products' recyclability and environmental impact. The lawsuit also says the soda companies have failed to disclose significant environmental and health harms associated with plastic containers. And, L.A. County argues that greenhouse gas emissions from the production of the plastic products have negatively impacted and threatened all county residents.

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