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The Dow Just Crossed 40,000 For the First Time: Is it a Big Deal?
The Dow Jones Industrial Average just topped 40,000 for the first time, the latest pop in what’s been a surprisingly good year for Wall Street. But just like New Year’s represents an arbitrary point in time in the Earth’s revolution around the sun, such milestones for the Dow don’t mean that much inherently. For one, with just 30 companies, the Dow represents a tiny slice of Corporate America. For another, almost no one’s 401(k) account sees its performance depend on the Dow, which has become more of a relic used for historical comparisons. Here’s a look at what the Dow is, how it...
Google Delays Phase Out of Third-Party Cookies
Google is moving back its plan to remove third-party cookies from its Chrome web browser to 2025. Google originally announced the plan to eliminate third-party cookies, which track and send information on user behavior to target ads, in 2020. Most recently, Google had said it would eliminate cookies by the end of this year.
Judge Approves National Association of Realtors Settlement
If you're planning on buying a home, you could face a higher than expected bill. That's because a judge approved a settlement with the National Association of Realtors. With approval of the $148 million dollar anti-trust agreement, home sellers' agents will no longer be required to offer a 5% or 6% commission to homebuyers' agents. The changes are set to take place in July of this year.
NBA TV Rights Negotiations Underway
THE NBA IS CURRENTLY IN NEGOTIATIONS FOR NEW TV RIGHTS CONTRACTS THAT WILL CHANGE HOW GAMES ARE TRADITIONALLY DELIVERED. ACCORDING TO EXECS FAMILIAR WITH THE PLANS, THE LEAGUE IS LOOKING FOR DECADE-LONG OR LONGER CONTRACTS WITH STREAMING BECOMING THE MAIN DISTRIBUTION METHOD. WHILE ESPN/ABC AND TNT SPORTS REMAIN INTERESTED IN RETAINING THEIR RIGHTS, IT IS BEING REPORTED THAT A NEW TECH PARTNER WILL JOIN THE MIX, WITH AMAZON PRIME VIDEO BEING THE PERCEIVED FAVORITE. NBC ALSO WANTS TO COVER THE NBA AND IS HOPING TO RETURN TO ITS BROADCAST NETWORK AND STREAMING SERVICE, PEACOCK. THE EXCLUSIVE FINANCIAL NEGOTIATION WINDOW BETWEEN THE NBA, ESPN, AND TNT SPORTS WILL OFFICIALLY CLOSE ON MONDAY AT 11:59 P.M. ET. AFTER THIS, THE LEAGUE CAN TALK ABOUT SPECIFIC CONTRACT DETAILS WITH OTHER POTENTIAL PARTNERS, WHICH COULD INCLUDE GOOGLE/YOUTUBE, NETFLIX, AND APPLE.
Seven A-Rated Florida Insurance Companies go Bankrupt
From 2021 to 2022 seven top-rated home insurance companies in Florida have shut down, with 2024 expected to be one of the most active Atlantic hurricane seasons in history. All seven companies received an 'A' rating from Ohio based insurance rating firm Demotech, meaning they were considered financially solvent and high quality. A paper from Harvard Business School claims that Demotech is rating lower quality insurers more highly due to a lack of options in high risk areas. Demotech denies this.
Boeing to Pay Airlines $443 Million for Max Incidents
Boeing has put a price tag on the grounding of its planes. The manufacturer will pay its airline customers $443 million dollars for the three week period where no 737 Max 9 planes could fly. Alaska Airlines, which experienced that door plug blowout in January, as well as United Airlines, both say they have reached financial agreements with Boeing.
XStereotype Combats Bias In Media with AI
Engaging with a diverse consumer base can be difficult business. Content that misrepresents race, culture, and gender can drive feelings of negative intent with customers and impact brand health. AI-powered platform XStereotype is setting out to help content creators analyze their content and offer data insight to maximize inclusion.
Amazon Introduces Grocery Delivery Subscription Service
AMAZON HAS INTRODUCED A NEW GROCERY DELIVERY SUBSCRIPTION SERVICE FOR PRIME MEMBERS AND CUSTOMERS USING EBT IN OVER 3,500 CITIES AND TOWNS ACROSS THE U.S. THE SUBSCRIPTION OFFERS UNLIMITED GROCERY DELIVERY ON ORDERS OVER $35 FROM AMAZON FRESH, WHOLE FOODS MARKET AND LOCAL GROCERY AND SPECIALTY RETAILERS ON AMAZON.COM. IT PROVIDES CONVENIENT DELIVERY AND PICKUP OPTIONS, WITH A FREE 30-DAY TRIAL. THE SUBSCRIPTION COSTS $9.99 PER MONTH FOR PRIME MEMBERS AND $4.99 PER MONTH FOR EBT USERS. THIS INITIATIVE AIMS TO PROVIDE VALUE, SAVINGS, AND CONVENIENCE TO CUSTOMERS, WITH A FOCUS ON IMPROVING THE GROCERY SHOPPING EXPERIENCE FOR ALL.
Medicare May Cover Wegovy For Heart Health
ACCORDING TO A RECENT ANALYSIS BY HEALTH POLICY RESEARCH FIRM KFF, MORE THAN 3 MILLION MEDICARE BENEFICIARIES COULD NOW BE ELIGIBLE TO RECEIVE COVERAGE FOR WEGOVY, A POPULAR WEIGHT LOSS DRUG THAT HAS RECENTLY BEEN APPROVED IN THE U-S FOR HEART HEALTH. HOWEVER, SOME BENEFICIARIES MAY STILL FACE OUT OF POCKET COSTS FOR THIS EXPENSIVE DRUG, AND SOME MEDICARE PRESCRIPTION DRUG PLANS MAY NOT COVER IT UNTIL 2025. ADDITIONALLY, AS MORE PART D PLANS BEGIN TO COVER WEGOVY, IT'S ALSO WORTH NOTING MEDICARE'S BUDGET MAY ALSO BE AFFECTED.
Starbucks Resuming Discussions With Union
Starbucks and the union representing its baristas will resume contract negotiations on Wednesday, ending a long period of inactivity. This comes after the two parties announced in February that they found a "constructive path forward" during mediation discussions. It was a significant shift for Starbucks, which had been fighting against Workers United and the wider movement to unionize its cafes for the past two years.
U.S. Oil Prices Rise as Manufacturing Slows
U.S. oil prices rose yesterday in response to hopes that interest rate cuts could be on their way. According to the S&P flash U.S. manufacturing survey showed American manufacturing fell to a four month low in March, with a reading of 49.9. A reading below 50 suggests the economy is contracting, which could push the Fed to cut rates sooner rather than wait for later in the year.
Nike To Lay Off 740 Employees
NIKE WILL BE LAYING OFF APPROXIMATELY 740 EMPLOYEES AT ITS WORLD HEADQUARTERS IN OREGON, ACCORDING TO A LETTER RELEASED ON FRIDAY. THE TOP SPORTSWEAR MAKER AIMS TO CONTROL COSTS AFTER WARNING OF A REVENUE DECLINE IN THE FIRST HALF OF FISCAL 2025. IN DECEMBER, NIKE ANNOUNCED A $2 BILLION COST SAVINGS PLAN OVER THE NEXT THREE YEARS. IN FEBRUARY, THE COMPANY STATED IT WOULD CUT ABOUT 2% OF ITS TOTAL WORKFORCE, OR OVER 1,600 ROLES.
Meta to Bring its Operating System to Other VR Headsets
Mark Zuckerberg says Meta will partner with hardware companies to build virtual reality headsets than can run its Meta Horizon operating system. The partnerships include Lenovo and Microsoft, and will use the same system that powers the Meta Quest hardware.
Amazon Suspends Drone Delivery in California
Amazon says it is discontinuing its Prime Air drone delivery program in California. The company has been working on Prime Air since 2013, and in 2022 began some deliveries outside of Sacramento and Houston. The California facility, in Lockeford, will be shutting down. In a blog post, Amazon says the company isn't abandoning drone delivery, and it will expand into Phoenix, Arizona, later this year. The company wants to expand the program more in 2025.
New Report Shows Climate Change Causes Health Risks for 70% of Workers
A new report from the United Nations' International Labor Organization found that a majority of the world's workers will face negative health impacts from climate change. The study determined that 71% of workers are at risk from excessive heat, pollution, and disease at work.
Tesla Cuts Prices Around the Globe
Tesla is cutting prices again across the globe. The EV maker lowered prices of its Model 3 in China, Germany, and other countries in Europe, the Middle East, and Africa, according to a Tesla spokesperson. This comes just days after Tesla cut prices here in the U.S., bringing Model Y, Model X and Model S prices down by about $2,000, and reducing prices of its full self-driving software from $12,000 to $8,000.
Trump Media Suspects Illegal Short Sellers Targeting Stock
Trump Media's leadership claimed the company is being targeted by illegal short sellers hoping to drive down the price of shares. In a letter released Friday, Trump Media CEO Devin Nunes told the president of the NASDAQ, quote, "brokers have a significant financial incentive to lend non-existent shares." He believes at least some short sellers are betting shares will go down in price without owning or borrowing them which can be illegal.
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