Business News Archives for 2025-02

AM Business Notebook

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after Wall Street saw stocks close mixed yesterday amid concerns surrounding President Trump's trade policy.  At the closing bell, the Dow Jones Industrial Average fell 188 points to 43-433.  The S&P 500 gained a point to 59-56.  The Nasdaq rose 49 points to 19-075.

 

>>Trump Talks Tariffs At 1st Cabinet Meeting of 2nd Term

(Washington, DC)  --  President Trump talked about looming tariffs during his first Cabinet meeting of his second term.  The President said he still plans to issue 25-percent tariffs on imports from Mexico and Canada on April 2nd. Trump said he was going to do it on April 1st, but said he's a little bit superstitious.  Trump said after the tariffs go into effect, Americans will "see something that's going to be amazing."  Trump also said he's slapping 25-percent tariffs on the European Union soon, claiming the 27-country bloc was "formed to screw the United States".

 

>>FDA OKs Pulse Detection For Pixel Watch 3

(Mountain View, CA)  --  The FDA is giving the thumbs up on a smart watch safety feature.  On Wednesday, Google revealed that the agency cleared the Loss of Pulse Detection on the Pixel Watch 3.  The feature was announced last August and is currently available in 14 countries.  The FDA's approval now paves the way for it to be available to the U.S by the end of next month.  The feature is designed to ask a watch user if they're okay if a pulse is not detected. If there's no response, the watch calls 9-1-1 and also gives the location of the user. 

 

>>NY Correctional Officers Still On Strike

(Buffalo, NY)  --  Talks are continuing to end a strike by correctional officers across the state of New York.  Wednesday was the third day of meditation between the state, the New York's Department of Corrections and Community Supervision workers.  The wildcat strike began February 17th at Collins Correctional Facility near Buffalo.  Officers have cited extreme working conditions for their walkout, which New York Governor Kathy Hochul says is illegal under state law. 

AM Business Notebook

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after a mixed close on Wall Street Tuesday spurred on by growing economic worries.  Tariff fears and a sharp drop in consumer confidence rattled markets.  Nvidia shares fell nearly three-percent ahead of its highly anticipated fourth-quarter earnings report due later today.  At the closing bell, the Dow Jones Industrial Average gained 159 points to 43-621.  The S&P 500 lost 28 points to 59-55.  The Nasdaq fell 260 points to 19-026.

 

>>Consumer Confidence Down

(New York, NY)  --  Americans view of the nation's economy is souring.  The latest Consumer Confidence reading shows the largest monthly decline since August of 2021. For the first time since last June, the Expectations Index was below the threshold that usually signals a recession ahead.  The board's chief economist said the fall in confidence was shared across all income groups but was deepest for consumers between 35 and 55 years old.  Purchasing plans for cars and other big ticket items were down led by TVs and electronics.  

 

>>Acting IRS Chief Retiring This Week 

(Washington, DC)  --  The head of the IRS is announcing his abrupt retirement.  Acting IRS Commissioner Doug O'Donnell will step down from his role Friday, after weeks of cutbacks since President Trump took office.  O'Donnell's departure will come as the IRS heads into the final weeks of tax filing season.  The Treasury Secretary has announced the IRS will instead be headed by Melanie Krause, who's been open to the Department of Government Efficiency's cuts.  However President Trump says he wants former representative Billy Long to take control of the agency.  

 

>>McDonald's Says No Egg Surcharge

(Chicago, IL)  --  McDonald's says it will not be adding an egg surcharge as egg prices soar.  Other chains like Waffle House and Denny's have started charging extra for dishes with eggs as bird flu has sent costs up.  McDonald's said this week that's not going to happen beneath the golden arches.  

 

>>Amazon Event Takes Place Today In NYC, Alexa Update Expected

(New York, NY)  --  Amazon will be holding an event today in New York City, where its expected to unveil an update on its Alexa digital assistant.  The company has been working to come out with a new version of the assistant with more advance artificial intelligence capabilities.  Amazon has lost billions of dollars on Alexa and its devices business since it launched in 2014.

 

>>Google Releases Free Version Of Code Assist

(Mountain View, CA)  --  Google has a new free version of its AI code assistance tool called Gemini Code Assist for individuals.  Code Assist lets developers talk with an artificial intelligence model that can look at and edit their codebase.  It can help fix bugs and complete sections of code.  

 

>>Most Financially Distressed Cities 

(Undated)  --  When it comes to financially distressed cities, Houston tops the list for most economic strain in the country.  A recent study by WalletHub compared credit scores, number of distressed financial accounts and more.  Also landing in unenviable spots on the 2024 list were Atlanta in second place, followed by Jacksonville, Dallas and Charlotte. 
 

AM Business Notebook

>>Saint Charles and The Center Merge

(Bend, OR) -- St. Charles Health System and The Center Orthopedic & Neurosurgical Care have officially merged. The Center is now part of St. Charles Health System and is operating under a new name…St. Charles Center for Orthopedics and Neurosurgery. The two organizations say a primary goal of the integration is to restore and expand access to orthopedic care…following a significant reduction over the past two years.

 

>>Joann Closing All Locations

(Hudson, OH) -- Fabric and craft store chain Joann is closing all of its locations. The company made the announcement Monday. A liquidator has agreed to buy all of Joann's assets and going-out-of-business sales will be held at stores. This comes after Joann announced plans earlier this month to close around 500 stores. Joann was founded in 1943 in Ohio. 

 

>>Watching Wall Street 

(New York, NY)  --  The opening bell rings this morning after stocks closed mostly lower Monday to start the week on Wall Street.  At the closing bell, the Dow Jones Industrial Average gained 33 points, ending at 43-461.  The S&P 500 lost 29 points to 59-83.  The Nasdaq fell 237 points to 19-287.  

 

>>Ahead On The Economic Calendar 

(Undated)  --  Some noteworthy economic reports are coming out this week, starting with consumer confidence and the S&P Case-Shiller home price index due today.  Wednesday brings new home sales data and fourth quarter earnings results from Nvidia.  The chipmaker is set to release those highly-anticipated numbers after the closing bell.   

 

>>President Trump: Tariffs Against Canada And Mexico Will Go Forward

(Washington, DC)  --  President Trump says tariffs against Mexico and Canada will move forward.  It comes as a month-long delay of their implementation will expire next week.  Speaking with French President Macron at the White House Monday, Trump said they are on time with the tariffs.  The two countries could see 25-percent tariffs on all exports starting March 4th.

 

>>Denny's Slaps Temporary Surcharge On Menu Items With Egg

(Spartanburg, SC)  --  Denny's is slapping a temporary surcharge on menu items with eggs. This as Americans deal with a shortage of the staple at grocery stores. The bird flu has resulted in the deaths of millions of hens. Denny's said the amount of the surcharge will vary across its roughly 15-hundred locations. The restaurant denied to share specifics because the situation is "fluid." 

 

>>Starbucks To Layoff 1,100 Corporate Workers

(Seattle, WA)  --  Starbucks plans to lay of eleven-hundred corporate workers.  CEO Brian Niccol announced the cuts Monday as the coffee chain faces slumping sales.  Workers at the company's cafes will not be impacted by the layoffs.  Niccol has made a number of changes since taking over as CEO last year.  The changes have included trying to speed up service and simplifying the menu.

 

>>Apple Announces $500B Investment In The U.S. 

(Cupertino, CA)  --  Apple is announcing a big investment into the United States.  The tech giant revealed Monday that over the next four years it plans to spend over 500-billion dollars. The effort includes building a new factory in Houston, Texas which is aimed to produce servers for the company's artificial intelligence software.  The money will also go towards chip making facilities in states like Arizona, Colorado, Oregon and Utah. The company says the investment will create 20-thousand U.S. jobs. This comes as Apple CEO Tim Cook met with President Trump last week as news of potential tariffs on certain imports loomed.

 

>>Joann Closing All Locations

(Hudson, OH)  --  Fabric and craft store chain Joann is closing all of its locations.  The company made the announcement Monday.  A liquidator has agreed to buy all of Joann's assets and going-out-of-business sales will be held at stores.  This comes after Joann announced plans earlier this month to close around 500 stores.  Joann was founded in 1943 in Ohio.

AM Business Notebook

>>Ahead Of The Bell

(New York, NY) -- The trading week kicks off with this morning's opening bell after stocks tanked Friday and the week skidded to a close on Wall Street. The downturn followed a steep drop in consumer sentiment coupled with other data that raised new concerns about the state of the economy. At the closing bell, the Dow Jones Industrial Average fell 748 points to 43-428. The S&P 500 lost 104 points to 60-13. The Nasdaq dropped 438 points to 19-524.

 

>>In The Business Week Ahead

(Undated) -- Coming up in the business week ahead, there are no major economic reports on today's calendar. Consumer confidence, along with the S&P Case-Shiller home price index are due on Tuesday. Wednesday brings new home sales data, with pending home sales numbers released the following day. Weekly jobless claims also come out Thursday and most analysts are expecting a slight increase in first-time requests for unemployment benefits. Things wrap up with Friday's release of yet another noteworthy inflation gauge - the personal consumption expenditures price index.

 

>>Egg Price Plan

(San Antonio, TX) -- The Trump Administration is plotting a new strategy to combat soaring egg prices. Instead of wiping out whole flocks of chickens, due to a single case of the bird flu, it would be more targeted. Texas Agriculture Commissioner Sid Miller is on board with the plan, saying farmers know what's best for their flocks.

 

>>'Uber With Guns' Now Available In L.A., NY

(Los Angeles, CA) -- An app that's been nicknamed "Uber With Guns" is now available in both Los Angeles and New York City. "Protector" allows users to summon an on-demand ride with bodyguards protecting them. The bodyguards are military and law enforcement professionals who are armed with guns. Users can also choose the number of protectors they want during their ride and choose up to three vehicles to be included in their motorcade. There are four options to pick from for the bodyguards' dress code. They range from business casual, which is a lighter suit with no tie, to operator, which is a full-on SWAT outfit.

 

>>Coinbase Says SEC Is Dropping Its Lawsuit

(New York, NY) -- The largest U.S.-based cryptocurrency exchange says the SEC is dropping its lawsuit against it. This could be a signal that the Trump administration plans to take a softer approach to the crypto industry as a whole. The exchange, Coinbase, said in a release titled "Righting a major wrong" that the Securities and Exchange Commission agreed to dismiss a Biden administration-era lawsuit. It accused Coinbase of acting as an unregistered securities broker.

 

>>Tesla Recalls 375K Vehicles To Fix Power Steering Issues

(Washington, DC) -- Tesla is recalling more than 375-thousand vehicles in the U.S. to fix a power steering issue. According to the National Highway Traffic Safety Administration, the recall involves Model 3 and Model Y vehicles with operating software prior to 2023, The agency said the issue could cause a loss of power steering when the vehicle stops and then accelerates again. Tesla has released an automatic software update free of charge. Owners of the recalled vehicles are also being notified by mail.

AM Business Notebook

>>Stocks Closing Lower

(New York, NY)  --  Wall Street closed Thursday with stocks sharply lower.  Walmart dropped shares after reported a week forecast for 2026 and i caused other retailers like Costco and Target to drop as well.  It comes after two straight days of record closes for the S&P 500 on Tuesday and Wednesday.  At the closing bell, the Dow Jones Industrial Average lost 450 points to 44-176.  The S&P 500 fell by 26 points to 61-17.  The Nasdaq dropped by 93 points to 19-962.

 

>>Unemployment Claims Slightly Higher Than Expected

(Undated)  --  Unemployment claims were up slightly last week.  Initial filings for unemployment benefits totaled 219-thousand in the week ending February 15th.  That's five-thousand more than the previous week.  The Dow Jones initially estimated claims would only reach 215-thousand.  Meanwhile, continuing claims also went up, reaching one-point-eight-seven-million with an increase of 24-thousand.

 

>>Musk Says America Will Go Bankrupt Unless Deficit Is Fixed

(Washington, DC)  --  Elon Musk says America will go bankrupt unless the federal deficit is brought under control.  Joined by President Trump in an interview with Sean Hannity, the head of DOGE said inflation will not be cut until they first tackle wasteful spending.  Trump blamed the previous administration for the federal deficit, saying he inherited it from President Biden.  He added that Musk has found only one-percent of the wasteful spending so far, and it could end up amounting to one-trillion dollars.  The President vowed that Social Security, Medicaid and Medicare "won't be touched" when it comes to spending cuts. 

 

>>Turkey Exporting Eggs To U.S.

(Istanbul)  --  Turkey is exporting some 15-thousand tons of eggs to the U.S. as bird flu has sent egg prices skyrocketing here.  Deliveries will start this month and continue through July, according to Turkish officials.  U.S. Egg producers hope the imports will help ease some pressure on prices.  

 

>>Amazon Beats Walmart In Quarterly Revenue For First Time

(Seattle, WA)  --  Amazon has beaten out Walmart in quarterly revenue for the first time ever.  The online retail giant reported nearly 188-billion-dollars in revenue during the fourth quarter.  Walmart reported Thursday 180-point-five-billion dollars in revenue for the same period.  Walmart is still leading Amazon when it comes to annual sales, although Amazon is gaining ground.  

 

>>Meta Executives To See Big Bonuses

(Menlo Park, CA)  --  Meta executives are set to get bigger bonuses this year.  The company behind Facebook and Instagram said Thursday that some executives could see bonuses of up to 200 percent of their base salary, up from the previous cap of 75 percent.  The announcement comes after the tech company started laying off five percent of its total workforce and cut annual stock option distributions by 10 percent for thousands of employees.  Shares in the company are up 47 percent over the past year.

 

>>UnitedHealthCare Offers Employee Buyouts

(Minnetonka, MN)  --  UnitedHealthCare is offering some employees buyouts.  The offer comes amidst a turbulent year for the insurance company, which posted record revenue while dealing with a massive cyber attack and the murder of its CEO Brian Thompson in December.  The buyouts are targeted at employees in the company's benefits operations unit.  Those who decline the offer will either keep their jobs or get a comparable position.

 

>>ChatGPT Has 400 Million Weekly Users

(San Francisco, CA)  --  ChatGPT now has more than 400 million active weekly users.  OpenAI CEO Brad Lightcap posted the numbers to X Thursday noted that it's twice the number of users the artificial intelligence program boasted in August of last year.  The company also announced that the number of paying users in the business sector has doubled to two million since September.
 

AM Business Notebook

>>Ahead Of The Bell

(New York, NY) -- The opening bell rings this morning after stocks closed higher on Wall Street Wednesday with the S&P 500 notching another record close. At the closing bell, the Dow Jones Industrial Average gained 71 points to 44-627. The S&P 500 rose by 14 points to 61-44. The Nasdaq gained 15 points to 20-056.

 

>>Federal Reserve Officials Concerned Over Tariffs' Effect On Inflation

(Washington, DC) -- Federal Reserve officials are concerned about the impact President Trump's recent tariffs will have on inflation. Meeting minutes released Wednesday reveal policymakers decided last month they'd need to see inflation decrease further before cutting interest rates, and they're worried how tariffs could impact this process. The Federal Open Market Committee ultimately opted to hold rates steady during the meeting. The Fed made multiple cuts last year that totaled a full percentage point.

 

>>Reports: IRS To Lay Off Thousands of Employees

(Washington, DC) -- The IRS is preparing to layoff some six-thousand employees starting today. This comes at the busiest time of the year for the tax collecting agency. The IRS will be primarily letting go of probationary workers as part of the Trump administration's efforts to reduce the federal government workforce. It also comes as multiple reports say Elon Musk's Department of Government Efficiency is looking to get access to the IRS' taxpayer data system. The IRS increased its staff under the Biden administration in an effort to increase audits of corporations and the wealthy.

 

>>Meta Eyes World's Longest Undersea Internet Cable

(Menlo Park, CA) -- Meta plans to build the longest undersea Internet cable in the world. The Facebook and Instagram parent company expects the multi-billion dollar project to be completed by the end of the decade. The more than 31-thousand-mile cable will connect the United States, India, Brazil, South Africa, and other regions. About 95 percent of all global Internet traffic is delivered on undersea cables.

 

>>Apple Unveils iPhone 16e

(Cupertino, CA) -- Apple is unveiling it's newest iPhone model. The tech giant put a spotlight on the iPhone 16e on Wednesday. It's aimed to be a more cost-friendly version of the company's current mobile lineup, but is still equipped with Apple's A18 chip - the same processor used in the more expensive iPhone 16 models. Other features include Apple Intelligence and the company's first cellular modem. The 16e starts at just under 600-dollars and is set to hit shelves on February 28th.

 

>>Luxury Retailer Neiman Marcus Closing Iconic Dallas Flagship Store

(Dallas, TX) -- Neiman Marcus is closing its flagship store in downtown Dallas. The luxury retailer has called the location home since 1914. This week's news comes just one year after Neiman Marcus' merger with Saks Fifth Avenue.

AM Business Notebook

>>Minutes From FOMC January Meeting To Be Released Today

(Undated)  --  Minutes from the Federal Reserve's January meeting are scheduled to be released today.  The central bank at its last meeting decided to leave interest rates unchanged.  At the time, Fed Chair Jerome Powell said inflation was closing in on its two-percent goal, but was not cooling as much or as quickly as hoped.  We'll also get word today on housing starts and building permits.  

 

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed higher on Wall Street Tuesday, with the S&P 500 hitting a record close following the Presidents Day holiday.  Stocks wavered as global trade fears and inflation worries weighed on markets.  Intel and Walgreens bucked the trend with shares surging on separate reports of potential buyout deals.  At the closing bell, the Dow Jones Industrial Average gained 10 points to 44-556.  The S&P 500 rose 15 points to 61-29.  The Nasdaq gained 14 points to 20-041.

 

>>Minutes From FOMC January Meeting To Be Released Today

(Undated)  --  Minutes from the Federal Reserve's January meeting are scheduled to be released today.  The central bank at its last meeting decided to leave interest rates unchanged.  At the time, Fed Chair Jerome Powell said inflation was closing in on its two-percent goal, but was not cooling as much or as quickly as hoped.  We'll also get word today on housing starts and building permits.  

 

>>Survey: More Americans Step Up Emergency Savings

(New York, NY)  --  More Americans are beefing up their emergency savings.  Nearly a third of the adults recently surveyed by Bankrate said they have more in an emergency fund than they did a year ago.  Over half also reported having more savings set aside than credit card debt.  Bankrate's chief financial analyst Greg McBride called it evidence that more Americans have been able to make progress in building their emergency savings as the pace of inflation has slowed.

 

>>Egg Prices Jump

(Washington, DC)  --  Egg prices continue to soar.  According to a new report from the USDA over the weekend, wholesale egg prices jumped 40-cents over the last 30 days.  That means a dozen eggs costs distributors seven-dollars-and-44-cents.  That is expected to climb with shortages continuing and distributors passing down the risings costs to shoppers.  The rising number of bird flu cases is being blamed for ongoing egg shortages.

 

>>Apple Readies New iPhone SE For Around $500

(Cupertino, CA)  --  Apple is ready to sell a new iPhone SE.  The revamped SE 4 will feature a larger screen, Face ID, Apple Intelligence, and a faster A18 chip.  The budget-friendly iPhone is expected to go on sale today for about 500 dollars.  

 

>>Elon Musk's xAI Unveils Updated Grok 3 Model

(New York, NY)  --  Elon Musk's artificial intelligence company is unveiling its updated Grok 3 AI model.  In an event livestreamed on X, xAI's [[ X-A-I ]] leaders claimed Grok 3 performs better in math, science and coding than OpenAI's GPT-4o, Google's Gemini and DeepSeek's V3 model.  The company also announced its new features, like advanced web searching and the ability to code online games. Grok 3 is available now to members of X's 40-dollars per month Premium-Plus subscription.

 

>>Coca-Cola Launches Simply Pop

(Atlanta, GA)  --  Coca-Cola is launching a new prebiotic drink called Simply Pop.  A spokesperson said the product will be available on the West Coast, Southeastern U.S. and online nationwide via Amazon Fresh.  A study by Euromonitor International data said the digestive health soft drink market growth has doubled over the last few years.  Simply Pop flavors will come in pineapple mango, lime, strawberry, fruit punch and citrus punch.  The drink has no added sugars and contains vitamin C, zinc, six grams of prebiotic fiber and up to thirty-percent fruit juice.  Simply Pop will hit the shelves at the end of this month. 

 

>>Nike And Skims Launch NikeSKIMS

(Beaverton, OR)  --  Nike and Skims are partnering to create a new clothing line for women.  Social media personality and business entrepreneur Kim Kardashian is one of Skims co-founders and its Chief Creative Officer.  A Nike spokesperson said the collection will include apparel, footwear and accessories which is launching this spring and an international launch for next year.  The partnership was created to compete with other popular clothing brands like Lululemon.  
 

AM Business Notebook

>>Ahead Of The Bell 

(Undated)  --  Trading resumes today after markets were closed Monday in observance of Presidents' Day, making this an abbreviated trading week.  Markets hovered around flatline for much of Friday's session before closing mixed as investors weighed the latest on tariffs and inflation.  New government data showed a nearly one percent drop in retail sales for January as consumers dialed back on post-holiday spending.  At the closing bell, the Dow Jones Industrial Average fell 165 points to 44-546. The S&P 500 lost less than a single point to 61-14.  The Nasdaq gained 81 points to 20-026.    

 

>>Nearly 300 Laid Off At FAA

(Washington, DC)  --   Nearly 300 Federal Aviation Administration employees have been fired by the Trump administration.  The employees got their notices over the weekend in a move their union calls a "hastily made decision" in an agency already challenged by understaffing.  The workers affected include mechanics, aviation safety assistants and others.  Transportation Secretary Sean Duffy posted Monday night on X that less than 400 of the agency's 45-thousand employees were let go and they were all probationary.

 

>>Southwest Cutting 15% Of Corporate Leadership

(Dallas, TX)  --  Southwest Airlines is cutting 15 percent of its corporate workforce.  It's the airline's first mass layoff in the company's history and will affect around 17-hundred-and-50 workers in leadership roles, some of them in senior positions.  The airline says the move is part of an effort to cut costs.

 

>>Apple Launching New Product This Week

(Cupertino, CA)  --  Apple is launching a new product on Wednesday.  Apple CEO Tim Cook announced the launch date last week but didn't say exactly what the product would be.  He posted on social media that it would be "the newest member of the family."  Speculation is that Apple will be taking the wraps off of a new iPhone SE 4.  The revamped SE is expected to feature a larger screen, Face ID and Apple Intelligence.  It's expected to sell for around 500 dollars. 
 

AM Business Notebook

>>Stock Market Closed For Federal Holiday 

(Undated)  --  Markets are closed today in observance of Presidents' Day.  When trading does resume tomorrow for what will be an abbreviated trading week, it will follow Friday's mixed close.  Markets hovered around flatline for much of the session as investors weighed the latest on tariffs and inflation.  New government data showed a nearly one percent drop in retail sales for January as consumers dialed back on post-holiday spending. 

 

>>Coming Up In The Business Week Ahead 

(Undated)  --  Only a few major economic reports appear on this week's calendar.  Things get rolling on Tuesday with the release of the home builder confidence index.  Minutes from the Federal Reserve's January meeting follow on Wednesday along with housing starts and building permits.  Weekly jobless claims will be out Thursday, and things wrap up with existing home sales data and consumer sentiment on Friday.

 

>>Reports: IRS To Lay Off Thousands of Employees

(Washington, DC)  --  The IRS is reportedly set to lay off thousands of employees as soon as this week.  This would come at the busiest time of the year for the tax collecting agency.  Multiple media outlets cite sources saying the IRS will be letting go of probationary workers.  This is part of the Trump administration's efforts to reduce the federal government workforce.  

 

>>OpenAI Tells Musk It's Not For Sale

(San Francisco, CA)  --  OpenAI is rejecting Elon Musk's 97-billion-dollar bid to take control of the company.  Musk offered to buy the nonprofit last week, although his bid was quickly dismissed by OpenAI CEO Sam Altman.  On Friday, the tech company's board of directors unanimously rejected the offer as well, saying they won't give in to "Musk's latest attempt to disrupt his competition." 

 

>>Kentucky And New Jersey Worst States To Retire

(Undated)  --  Kentucky is the worst state to retire, followed by Louisiana, Mississippi, Washington, New Mexico and New Jersey.  WalletHub looked at 46 key indicators of retirement-friendliness, everything from tax rates, cost of living and access to quality medical care and fun things to do.  The best states to retire: Florida is number one, followed by Minnesota, Colorado, Wyoming and South Dakota.

 

>>Starbucks To Use Compostable Cups In Some Cities

(Seattle, WA)  --  Starbucks is starting to use compostable cups for drinks like iced coffee or Frappuccinos in some cities.  The cups look opaque.  They're fiber based and have a bioplastic lining.  Starbucks has a goal to make packaging reusable, recyclable, or compostable by 2030.  Customers who don't like the cups can bring in their own clean cup or drink it in the store using a ceramic mug or glass.  Select stores in several states including Washington, California, and Colorado, are on board with the new cups.

 

>>Uber Eats Delivered By Robot In Jersey City

(Jersey City, NJ)  --  Uber Eats customers in Jersey City are making history.  Jersey City has become the first city on the East Coast where Uber Eats is being delivered by a robot.  It's part of a partnership between Uber Eats and autonomous vehicle startup Avride.  When placing an order, customers will have the option to decline the delivery robot and choose a traditional courier.  The robotic service has already been rolled out in Dallas and Austin, Texas. 

 

>>Wendy's Combines Their Frosty With Girl Scout Cookie

(Undated)  --  A new flavor will soon be available for Wendy's Frosty lovers.  On February 21st - that's this Friday - Wendy's will start selling Thin Mint-flavored Frostys.  Last year, Wendy's sold an average of 500 Frostys a minute in the U.S. 
 

AM Business Notebook

>>Trading Week Winding Down 

(New York, NY)  --  The opening bell rings this morning as the trading week starts to wind down on Wall Street.  Stocks closed higher yesterday after President Trump ordered reciprocal tariffs on all trading partners.  Trump also suggested that more tariffs are on the way, including ones on auto imports.  At the closing bell, the Dow Jones Industrial Average gained 342 points to 44-711. The S&P 500 gained 63 points to 61-15.  The Nasdaq gained 295 points to 19-945.

 

>>TikTok Returns To Apple, Google App Stores

(Undated)  --  TikTok is back.  The social media app returned to the Apple and Google app stores Thursday evening, after being removed almost a month ago in response to a national security law that went into effect.  The app's return follows a letter from US Attorney General Pam Bondi informing Apple it wouldn't be fined for hosting the app.  

 

>>Wholesale Prices Rise 0.4% In January

(Undated)  --  Another key report shows inflation is increasing.  The Producer Price Index found wholesale prices went up point-four-percent in January and increased more than expected.  The Bureau of Labor Statistics released the report on Thursday, which tracks how much producers receive for their goods.  Core PPI, which excludes food and energy prices, rose point-three-percent, in line with expectations.  This comes after the BLS reported an increase in the consumer price index a day earlier, disappointing the Federal Reserve as the central bank looks to keep inflation down.  The three-percent annual inflation rate means an interest rate cut likely won't come until the second half of this year.

 

>>Americans' Credit Card Debt Reaches New Record High

(New York, NY)  --  Americans' credit card debt has reached a record high of one-point-21 trillion. That's according to a report released by the Federal Reserve Bank of New York on Thursday. The increase is part of a broader rise in household debt, which now totals over 18 trillion dollars over credit cards, mortgages, auto loans, and student loans. In the last quarter of 2024, overall debt grew by 93-billion-dollars, with about half of that increase attributed to new credit card debt.

 

>>Blue Origin Lays Off Over A Thousand Employees

(Cape Canaveral, FL)  --  Job cuts are coming to Blue Origin.  The Jeff Bezos-founded space company laid off over a thousand employees on Thursday.  That amounts to about ten percent of its workforce.  CEO Dave Limp says the company grew fast, became too bureaucratic and lost its focus.  He says, going forward, the focus will be more on efficiency. 

 

>>Honda And Nissan Merger Called Off

(Undated)  --  Honda and Nissan are calling off their plans to team up.  Both automakers announced Thursday that their proposed multi-billion dollar merger is not happening, pointing at ongoing discussions regarding business structure.  The companies also highlighted the auto market changing rapidly as another reason for the deal being scrapped. Instead, Honda and Nissan said they'll still work together on the "intelligence of electrified vehicles." The proposed merger was announced back in December. 

 

>>2025 Could See Record Valentine's Day Spending

(Undated)  --  One estimate predicts people will spent a record 27-point-five billion dollars this Valentine's Day.  That would beat out the 27-point-four billion record set in 2020, according to a survey from the National Retail Federation and Prosper Insights and Analytics.  The top places people will spend their money are online, followed by department stores and florists.  A little more than half of consumers say they'll celebrate Valentine's Day this year.

 

>>Denny's Closes 30 More Restaurants That Previously Announced

(New York, NY)  --  Denny's is closing about 30 more restaurants than it previously announced. This comes after the diner chain announced last year it was closing 150 locations as part of its plans to jumpstart growth. In an earnings call this week, Denny's revealed it closed 88 locations last year and will shutter between 70 and 90 in 2025. 

AM Business Notebook

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed lower on Wall Street Wednesday.  That came after last month's Consumer Price Index report came in higher than expected.  At the closing bell, the Dow Jones Industrial Average lost 225 points to 44-368.  The S&P 500 fell by 16 points to 60-52.  The Nasdaq rose by six points to 19-650.  Investors today will be keeping an eye out for another key report used by the Fed to gauge inflation.  The Producer Price Index is set for release at 8:30am Eastern time.  Weekly jobless claims are also due this morning. 

 

>>Judge Allows Trump's Buyout Plan To Continue

(Washington, DC)  --  A federal judge is allowing President Trump's employee buyout plan to continue.  Last month, Trump offered money to millions of federal employees to get them to quit, but multiple labor unions filed lawsuits soon after, saying the administration did not have legal authority to offer such buyouts.  A judge issued a temporary freeze on the administration's offer, but on Wednesday the same judge announced the unions lacked legal standing in their lawsuits.  Now the buyout offer is back on the table for roughly two-million federal workers. 

 

>>Musk Will Withdraw Bid For OpenAI On One Condition 

(San Francisco, CA)  --  Elon Musk is prepared to withdraw his 97-billion-dollar bid for OpenAI, with one condition.  In a court filing Wednesday, a lawyer for the tech billionaire said Musk will withdraw his bid for the AI nonprofit if its board of directors "preserve the charity's mission" and halt its conversion to a for-profit corporation.  Musk and his AI company, xAI, offered to buy the nonprofit on Monday for just over 97-billion dollars.  The offer was quickly dismissed by OpenAI CEO Sam Altman, who said it was not for sale.  Musk is a co-founder of OpenAI, which is in the process of restructuring and becoming a for-profit company.

 

>>Breakfast Costs Are Skyrocketing

(Washington, DC)  --  The cost of breakfast is skyrocketing. Staples like eggs, orange juice and coffee are hurting customers' wallets. According to data from the Bureau of Labor Statistics, egg prices were up over 50-percent year over year in January. They're up over seven-percent month over month. Drinks like orange juice jumped seven-point-seven percent over the last year, and coffee is up just over three-percent.

 

>>JOANN To Close Hundreds Of Stores

(Hudson, OH)  --  JOANN is closing hundreds of stores.  This comes less than a month after the fabrics retailer filed for Chapter 11 bankruptcy for the second time in a year.  The craft store listed 530 "underperforming" stores in a recent court filing across more than 40 states that it plans to immediately begin closing.  When JOANN filed for bankruptcy protection in January, it originally wanted to keep all of its 800 stores open.  A spokesperson said "Right-sizing our store footprint is a critical part of our efforts to ensure the best path forward for JOANN." 
 

AM Business Notebook

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed higher yesterday to kick off the trading week.  Stocks rose with steel and aluminum shares leading the way as investors shook off tariff worries.  At the closing bell, the Dow Jones Industrial Average gained 167 points to 44-470.  The S&P 500 rose 40 points to 60-66. The Nasdaq climbed 191 points to 19-714.

 

>>Judge Extends Block On Federal Buyout Worker Deadline 

(Boston, MA)  --  A pause on President Trump's buyout offer to federal employees is being extended.  A federal judge in Boston extended his block on Monday that impacts over two-million federal employees and issued a temporary restraining order.  It comes after he initially paused the buyout offer late last week.  Labor unions challenged the legality of the plan, which offers employees pay through September if they choose to resign.  More than 60-thousand workers have reportedly accepted the offer. 

 

>>Fed Chair Powell Heads To The Hill 

(Undated)  --  Fed Chair Jerome Powell heads to the Hill today to begin two days of testimony before Congress, focusing on the state of the economy.  His appearance comes as  tech billionaire Elon Musk - the head of the Trump administration's Department of Government Efficiency - appears to be backing the idea of former Congressman Ron Paul replacing Powell as the Federal Reserve Chair.  President Trump slammed the central bank last month and blamed Powell for not stopping inflation.  He also named Powell as the Fed chair in his first term.

 

>>Meta Cutting Thousands Of Jobs

(Menlo Park, CA)  --  It's the end of the line for thousands of Meta employees.  The Facebook parent company began handing pink slips out Monday in an effort to eliminate about five percent of its workforce.  Approximately 36-hundred employees are expected to be let go.

 

>>Lyft Announces Robotaxi Launch for 2026

(San Francisco, CA)  --  Lyft appears to be joining the robotaxi game.  The rideshare service announced that it's looking to launch an autonomous vehicle fleet sometime next year. Technology used by Intel backed Mobileye will power the cars and Dallas will be the first market to feature them.  Back in September, Uber and Waymo revealed plans to launch a robotaxi service in Austin and Atlanta sometime this year. 

 

>>McDonald's Reports Disappointing Revenue

(New York, NY)  --  McDonald's is reporting disappointing quarterly revenue after weaker sales following an E. coli outbreak weeks into the period.  However, shares rose over four-percent as executives predicted improved sales in 2025.  The company on Monday reported six-point-three-nine-billion dollars in revenue, compared with six-point-four-four expected. 
 

AM Business Notebook

>>Watching Wall Street

(New York, NY)  --  The opening bell rings this morning on Wall Street after Friday's sharply lower close capped a volatile trading week.  Stocks fell as tariff and inflation fears weighed on markets.  A steep drop in consumer sentiment for February and the latest jobs data added to the downward pressure.  At the closing bell, the Dow Jones Industrial Average fell 444 points to 44-303.  The S&P 500 lost 57 points to 60-25.  The Nasdaq dropped 268 points to 19-523.

 

>>In The Business Week Ahead

(Undated)  --  Coming up in the business week ahead, things get off to a slow start today with no major economic reports to speak of.  Fast forward to Tuesday and Fed Chair Jerome Powell opens two days of testimony before Congress, focusing on the state of the economy.  The consumer price index, the Fed's go-to inflation gauge, is due the following day.  The producer price index comes out Thursday along with weekly jobless claims and retail sales bring the week to a close on Friday.

 

>>Chinese Tariffs In Effect

(Beijing)  --  Chinese tariffs on some American goods are now in effect, as President Trump continues to threaten trade wars with allies and rivals alike.  China's retaliatory import taxes include 15 percent on coal and liquified natural gas, along with a 10 percent tariff on oil, farm equipment and large-engine cars.  China is also imposing export controls on several rare earth metals, critical components of electronic and military equipment.  Earlier this month Trump announced a 10 percent tariff on all Chinese products.  Sunday night, Trump said he would be enacting 25 percent tariffs on all steel and aluminum imported to the U.S.  

 

>>CFPB Ordered To Stop Work

(Washington, DC)  --  The Consumer Financial Protection Bureau has been ordered to stop all work.  In an email Saturday night from Acting Director Russell Vought, all supervision and examination activity will cease unless he approves it or if it's required by law.  The bureau's aim is to protect consumers from unfair, deceptive or abusive practices.  

 

>>T-Mobile Offers Starlink Connectivity

(Bellvue, WA)  --  T-Mobile says customers with its most expensive plan, Go5G, will get access to satellite-to-phone connectivity using SpaceX's Starlink starting this July.  It'll be free for those customers and 15-dollars a month for all others.  The company is also offering the service to AT&T and Verizon customers for 20 dollars a month.  

 

>>Survey:  Many Workers Will Call In Sick After The Super Bowl

(New Orleans, LA)  --  Employers can expect a lot of people to call in sick today following the Super Bowl.  A survey from Paycom collected data from over six-million employees who requested sick days after the Super Bowl.  It found that in 2024, there were 63-percent more sick day requests on the day after the game than on the average day last year.  It also found over 90-percent of managers at U.S. companies approved sick days for employees after the game, accounting for the second-highest percentage of approved sick days in 2024.  

 

>>Trader Joe's Limits Egg Purchases At All Stores

(Monrovia, CA)  --  Trader Joe's is limiting customers' egg purchases at all stores.  A spokesperson for the grocery chain says it's limiting them to one dozen per customer, per day, due to "ongoing issues with the supply."  On the grocer's website, one dozen pasture-raised, large brown eggs costs about five-dollars. 
 

AM Business Notebook

>>Watching Wall Street 

(New York, NY)  --  The opening bell rings this morning after Wall Street closed Thursday with stocks mixed ahead of today's monthly jobs report.  Most analysts expect January saw a drop off in new job creation, adding roughly 175-thousand, compared to the prior month's 256-thousand.  As trading wrapped up and the closing bell rang yesterday, the Dow Jones Industrial Average fell by 125 points to 44-747.  The S&P 500 rose by 22 points to 60-83 - marking three straight days of closing higher.  The Nasdaq gained 99 points to 19-791.

 

>>Judge Blocks Federal Employee Buyout Program

(Boston, MA)  --  A federal judge is pausing the Trump administration's so-called "deferred resignation" offer to federal employees.  The judge ordered the deadline for workers to make their decision until at least Monday.  The original deadline was set for the end of the day Thursday.  The pause allows for arguments over the offer at a hearing set for next week.  According to reports, tens of thousands of workers have already accepted the offer that will allow them to resign and pay them through September.

 

>>Google Ends DEI Hiring

(Mountain View, CA)  --  Google will no longer pursue diversity hiring goals.  A spokesperson confirmed the move this week saying that as a federal contractor, the search giant is evaluating additional changes required following recent court decisions and executive orders.  Google joins other big tech companies like Meta and Amazon that have also rolled back DEI hiring efforts. 

 

>>NOLA Businesses Look Forward To Super Bowl Impact

(New Orleans, LA)  --  New Orleans businesses are looking forward to the windfall of having the Super Bowl in town this Sunday.  The Las Vegas Convention and Visitors Authority says last year's game had a billion-dollar impact on the local economy.  It's been 12 years since New Orleans last hosted the big game, and this will be the city's 11th time overall.  The Superdome and the French Quarter are within walking distance of 30-thousand downtown hotel rooms, and that sort of convenience is good for business.  

 

>>Average 30-Year Mortgage Rate Down For Third Straight Week

(Washington, DC)  --  The average rate on a 30-year mortgage is down for the third straight week in a row.  It's now at six-point-eight-nine-percent, according to mortgage buyer Freddie Mac.  A year ago, it averaged six-point-six-four-percent.  Freddie Mac's Chief Economist noted that the past two weeks have seen a small uptick in purchase applications compared to the same period last year.

>>Nvidia's AI Framework Teaches Humanoid Robots to Move More Like Humans

(Santa Clara, CA)  --  Nvidia's AI framework is teaching humanoid robots how to move more like humans.  The chipmaker's researchers are partnering with scientists at Carnegie Mellon to introduce "ASAP" which lets humanoid robots learn complex movements like those of professional athletes.  In one simulation, robots demonstrated moves similar to those of LeBron James and Cristiano Ronaldo.

 

>>Chicago Teachers Union May Be On Track To Strike 

(Chicago, IL)  --  One of the largest school districts in the country could soon see a strike.  The Chicago Teachers Union is inching closer to a possible strike after rejecting an independent arbitrator's report on settling contract negotiations with Chicago Public Schools.  CTU President Stacy Davis Gates says the report doesn't address enough of the issues at hand.  CPS CEO Pedro Martinez says there is nothing to justify a strike, adding that he believes the report shows the district is bargaining in good faith.  With the release of the report Wednesday, the CTU and district have entered a month-long cooling-off period, after which the union can issue a ten-day strike notice.

 

>>AMC Theatres Increasing A-list Subscription Price

(Undated)  --  AMC Theatres is increasing the monthly subscription price of Stubs A-list.  Starting May 7th, the membership prices for users in New York and California will increase from 24-95 to 27-99 per month.  For everyone else, depending on where they live they'll have to pay between 19-99 and 25-99.  The service previously allowed members to see three movies per week free of charge, but with the price increase customers will now be able to see four movies a week.  The theater chain is also launching AMC Stubs A-List Classic, which offers one free movie a week at the lower price of 14-95 per month.
 

AM Business Notebook

>>Providence Strike Latest

(Portland, OR) -- The largest healthcare worker strike in state history could soon be over. Providence and the Oregon Nurses Association reached a tentative agreement for nurses at the eight Providence hospitals in Oregon late Tuesday… And last night, both sides announced a deal to get Hospitalists from St. Vincent Medical Center back to work. Ratification votes will be held over the next two days. Doctors and nurses at Providence women’s clinics struck a tentative deal last weekend and are expected to return to work Thursday.


>>Ahead Of The Bell (New York, NY) -- The opening bell rings this morning on Wall Street after stocks closed higher on Wednesday. That came as big tech companies like Alphabet and AMD posted losses in their latest earnings results. At the closing bell, the Dow Jones Industrial Average gained 317 points to end at 44-873. The S&P 500 rose by 23 points to 60-61. The Nasdaq gained 38 points to 19-692. Investors today will be keeping an eye out for e-commerce giant Amazon to release its fourth quarter results. That happens after the closing bell.

 

>>USPS To Resume Accepting Packages From China, Hong Kong

(Washington, DC) -- The U.S. Postal Service will start accepting packages from China again. The announcement on Wednesday is a reversal of a move made yesterday to pause the reception of parcels from China and Hong Kong. The USPS announced this pause in response to newly-imposed tariffs on Chinese goods. These tariffs close a loophole that previously allowed packages worth less than 800-dollars to be shipped without a tax. The agency says it will work with U.S. Customs and Border Protection to create a collection mechanism that complies with the tariffs.

 

>>Bill Would Cap Credit Card Interest At 10%

(Washington, DC) -- A new bill in the Senate would cap credit card interest rates at ten percent. Introduced by Vermont Independent Bernie Sanders and Missouri Republican Josh Hawley this week, the cap would be in effect for five years if it becomes law. Credit card industry lobbyists, who argue that interest rate caps actually hurt consumers, will likely oppose the bill. The average credit card interest rate is more than 20 percent and Americans owe more than one-point-one-trillion dollars. >>Amazon Event This Month, Alexa Update Expected (New York, NY) -- Amazon is planning to hold an event on February 26th in New York City, where its expected to give an update on its Alexa digital assistant. The company has been working to come out with a new version of the assistant with more advance artificial intelligence capabilities. Amazon has lost billions of dollars on Alexa and its devices business since it launched in 2014.

 

>>Google Launches Gemini 2.0 Models

(Mountain View, CA) -- Google is giving everyone access to it's latest AI model. Gemini 2.0 Pro Experimental was launched on Wednesday along with other versions of the program. Google says the Experimental tool can handle complex prompts and can comprehend "world knowledge" better than it's previous models. It's also designed to use Google Search when gathering information. This comes as similar programs have been released by Open AI and Chinese startup DeepSeek.

 

>>Workday Cutting Over 8% Of Staff

(Pleasanton, CA) -- Workday is cutting its staff. In a memo to employees on Wednesday, the company said it's laying off over 17-hundred workers. That's around eight percent of its roster. The HR platform called the move "difficult, but necessary" pointing at the implementation of AI as a way to expand operations. Those affected are set to receive at least 12 weeks pay. Other tech-based companies that recently faced job cuts include Salesforce, Cruise and Amazon.

AM Business Notebook

>>Ahead Of The Bell  

(New York, NY)  --  The opening bell rings this morning after tech stocks helped power Wall Street to a higher close on Tuesday and investors largely shook off trade war fears.  At the closing bell, the Dow rose 134 points to 44-556.  The S&P 500 added 43 points to 60-37.  The Nasdaq climbed 262 points to 19-654.

 

>>Job Openings Fall In December

(Washington, DC)  --  The number of job openings fell to nearly a four-year low in December.  The Labor Department says seven-point-six million jobs were available at the end of the month which suggests jobs are getting harder to find.  Professional and business services saw the biggest drop in openings followed by health care and social assistance.  According to the Job Openings and Labor Turnover Survey, the JOLTS report, the number of hires and workers who quit their jobs was little changed for the month.  

 

>>Waffle House Throws Surcharge On Eggs  

(Atlanta, GA)  --  Ordering eggs at your local Waffle House will soon cost more. The restaurant has placed a temporary egg surcharge of 50 cents on every egg ordered at the establishment. Waffle House says the ongoing egg shortage caused by the bird flu has led to the restaurant increasing their egg prices. They also add they plan to adjust or remove the surcharge once egg prices return to normal levels. The cost of eggs has almost doubled since last year due to the population of chickens plunging in the U.S. due to the bird flu.

 

>>President Trump Plans To Investigate California's High Speed Rail Project 

(Washington, DC)  --  President Trump is planning to investigate California's controversial high speed rail project.  On Tuesday, while speaking to reporters in the Oval Office, Trump called it one of the worst managed projects he's ever seen. He also says it's "impossible" that something could cost so much, adding that the rail line is no longer going to Los Angeles and San Francisco as initially planned.  Trump says he will not let the Department of Government Efficiency, headed by Elon Musk, lead the investigation into the high-speed rail project. 

 

>>Southwest Airlines Scraps Drink Service On Short Flights

(Dallas, TX)  --  Southwest Airlines is rolling out a number of new changes.  One of them will affect short flights.  Drink service is being scrapped on any journey that takes 40 minutes or less.  That includes soda and alcohol.  The only choice for flyers would be water or coffee.  The carrier says that passengers may not have time to finish a drink in 40 minutes or less. 

 

>>GM Cuts 50% Of Remaining Cruise Robotaxi Staff 

(Detroit, MI)  --  General Motors is laying off about half of the remaining employees at its discontinued Cruise robotaxi business.  Cruise shared the news in an emailed statement Tuesday, calling it a "difficult decision."  According to CNBC, the layoffs impact mostly engineering positions.  The move comes two months after GM said it would no longer fund Cruise after spending about ten-billion-dollars on the robotaxi unit after acquiring it in 2016.  Cruise had about 23-hundred employees at the end of December. 

AM Business Notebook

>>Opening Bell Rings This Morning After Rough Day On Wall Street

(New York, NY) -- The opening bell rings this morning after a rough start to February on Wall Street. Stocks did eventually manage to trim losses after a sharp sell-off over U.S. tariffs. At the closing bell, the Dow lost 122 points to 44-422. The S&P 500 fell 46 points to 59-94. The Nasdaq dropped 235 points to 19-392.

 

>>U.S. Delays Mexico, Canada Tariffs For One Month

(Washington, DC) -- Tariffs on Mexico and Canada will be put on hold for one month. President Trump's decision comes after he spoke with Mexican President Claudia Sheinbaum Monday morning, and Canadian Prime Minister Justin Trudeau in the afternoon. In a post on X, Sheinbaum said Mexico will send ten-thousand National Guard members to the U.S. border to prevent drug trafficking. Trudeau vowed Canada would spend over a billion dollars on a plan to reinforce its border. Tariffs against China did not get the same extension and as a result, China overnight announced plans to hit some imports from the U.S. with additional tariffs starting next week.

 

>>State Farm Seeks Emergency Rate Increase Averaging 22% After L.A. Fires

(Los Angeles, CA) -- California's largest home insurer is asking state officials for an emergency rate hike that averages 22-percent. State Farm General claims the Los Angeles County fires have had a significant impact on its ability to continue operating in California. State Farm said they're received at least 87-hundred claims and have paid more than one-billion-dollars to customers, adding that it expects to pay out even more. The company is asking for rate hikes of 38-percent for rental dwellings and 15-percent for tenants, with those rates taking effect on May 1st. State Farm said on Monday that the request is necessary to rebuild its capital base.

 

>>Economic Reports, Earnings Results In Focus

(Undated) -- Coming up in business news today, we'll get word on job openings. Keeping the focus on jobs, ADP's employment report is due Wednesday. That's followed by weekly jobless claims on Thursday. The attention on Friday will be on the government's monthly jobs report. Most analysts expect January saw a drop in new job creation, adding roughly 175-thousand, compared to the previous month's 256-thousand. As for noteworthy earnings reports, Google parent Alphabet and Spotify are set to announce their results today.

 

>>President Trump Creates U.S. Sovereign Wealth Fund

(Washington, DC) -- President Trump is creating an American sovereign wealth fund. Speaking while signing executive orders in the Oval Office Monday, Trump suggested it could help with the purchase of TikTok. The President said the fund will also be used to invest in things like airports, medical research and highways. The sovereign wealth fund is the first ever to be established in the history of the U.S.

 

>>ChatGPT "Deep Research" Launches

(San Francisco, CA) -- OpenAI is launching ChatGPT "Deep Research." The new AI agent can conduct complex research in fields like finance, science, policy, and engineering and deliver a complete response in five to thirty minutes. It's available to Pro users and is limited to one hundred monthly queries.

AM Business Notebook

>>Ahead Of The Bell

(New York, NY)  --  The opening bell rings this morning after January ended with stocks lower on Wall Street.  Markets took a hit after the White House announced new tariffs on Mexico, Canada, and China.  Stocks dropped on the news with the Dow Jones Industrial Average down sharply in late trading.  At the closing bell, the Dow fell 337 points to 44-544.  The S&P 500 lost 30 points to 60-40.  The Nasdaq fell 54 points to 19-627.

 

>>Several Noteworthy Earnings Reports This Week

(Undated)  --  Coming up in business news this week, investors will be looking forward to earnings reports from some big name companies.  Tyson Foods releases their latest numbers today.  Things pick up Tuesday with earnings results from Alphabet, Google's parent company, and Spotify.  Wednesday brings word from Disney, Uber and Harley Davidson.  The spotlight falls on Amazon the next day and the week wraps up Friday with Frontier Group Holdings releasing results.  

 

>>Economic Reports On The Horizon

(Undated)  --  Coming up in the business week ahead, things start off Monday with auto sales numbers released throughout the day.  We'll get word on job openings Tuesday, with ADP's employment report due Wednesday.  That's followed by weekly jobless claims on Thursday.  The attention on Friday will be on the government's monthly jobs report.  Most analysts expect January saw a drop in new job creation, adding roughly 175-thousand, compared to the previous month's 256-thousand.

 

>>Egg Prices Soar As Farmers Deal With Bird Flu Outbreak 

(Undated)   --  Egg prices continue to soar as supply dwindles.  The average cost for a dozen eggs in the U.S. has risen 50-percent in the last year.  Data from the NIQ consumer research group shows a standard carton cost five dollars and 29 cents the week ending in January 18th compared to just over three-50 for a dozen eggs one year ago.  Experts say the main reason for the price surge is the bird flu which has infected many poultry farms.  The USDA says over 13 million egg-laying hens have died or been slaughtered since December 2024 due to the bird flu outbreak.   

 

>>Remote Work And RTO In 2025 

(Undated)  --  More and more companies like Amazon, AT&T, Boeing, Dell and Walmart are requiring people to return to the office in 2025.  But recent research shows that return-to-office orders can cause even the best of employees to quit.  A survey by the Pew Research Center involving over five-thousand people found that almost half of hybrid and remote workers say they're unlikely to stay at a job if they have to be in the office full-time.  And, research from ZipRecruiter suggests that companies looking to dramatically scale back on hiring are more likely to enforce RTO orders.  The online job marketplace also found that these companies report higher turnovers.  Meanwhile, researchers at the University of Pittsburgh found the turnover rates are especially high among women, senior and skilled employees. 

 

>>State Farm Scraps Super Bowl Ad

(Los Angeles, CA)  --  The Super Bowl is rapidly approaching and State Farm is cancelling its ad because of the wildfires in Southern California.  The insurance company, which faced criticism for not renewing some policies because of fire risk, says it is instead focused on helping customers impacted by the fires that have left thousands of homes and businesses destroyed.  

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