Business news 2023

[Rewind]

When a manufacturer or the National Highway Traffic Safety Administration determines that a vehicle, tire, battery, airbag, child seat or other equipment poses a safety risk or fails to meet minimum safety standards, the vehicles will be recalled and repaired at no cost to the owner. But "dissatisfaction" and "discouragement"? This has to be the most unusual recall in automotive history. Shares of Ford closed today at 12.00, a drop of 0.59 (4.65%).

The Ford Bronco is being recalled because people may get 'discouraged' trying to use the seat belts

https://www.cnn.com/2023/05/31/busin...all/index.html

[Rewind]

"Alexa, where can we come up with a quick thirty million dollars?"

Amazon to pay $30 million over Alexa and Ring privacy violations

https://www.bbc.com/news/technology-65772154

[Rewind]

J.L. Turner and his son Cal owned several department stores in Kentucky and Tennessee in the 1950s. In 1955, they converted one of the stores into the first Dollar General, with every item selling for a dollar or less. Dollar General Corporation went public in 1968 and now owns more than 18,700 stores. Shares of Dollar General closed today at 161.86, a drop of 39.23 (19.51%).

Dollar General sinks 19% on a slashed profit outlook as company says its budget-sensitive customers are relying more on food banks and credit cards

https://markets.businessinsider.com/...-income-2023-6

[Rewind]

According to the National Retail Federation, professional gangs of shoplifters like to steal designer clothing, designer handbags, allergy medicine, razors, liquor, pain relievers, baby formula, laptops, deodorant, laundry detergent and small appliances because they can easily resell these items in large quantities. Three-fourths of retailers have policies forbidding employees from confronting shoplifters. Two Lululemon employees in Georgia were recently fired for violating this policy. They were not even given severance pay.

One person wrote on Twitter, "Lululemon has a policy of NOT pursuing shoplifters in their stores. So, they just announced that their clothes are now free? Well, don't ever pay for Lululemon again. They're having a 100%-off sale all day, every day. NICE!"

Why Lululemon will fire employees if they try to stop thieves

https://www.businessinsider.com/why-...p-theft-2023-6

[Rewind]

Apple CEO Tim Cook calls Vision Pro a "mixed-reality headset." Um, okay. Shares of Apple closed today at 179.58, a drop of 1.37 (0.76%).

Apple just revealed its first major product in more than 8 years — meet the $3,499 'Vision Pro'

https://www.businessinsider.com/appl...se-date-2023-6

[Rewind]

TechCrunch editor-in-chief Michael Panzarino has tried every virtual reality headset and augmented reality device beginning with the Oculus DK1 in 2013. He says Apple's Vision Pro has "very good" hardware, better optics and a "comfortable" headband. Yeah, but there's still that $3,500 price tag. A cheaper version is being developed. Shares of Apple closed today at 183.79, a gain of 2.83 (1.56%).

Apple is reportedly working on a cheaper version of its $3,500 Vision Pro – but it's 2 years away

https://www.businessinsider.com/less...-report-2023-6

[Rewind]

Inflation slowed in May for the 11th consecutive month. Consumer prices rose only 0.1% following a 0.4% increase in April. Overall, consumer prices increased 4% from a year earlier, down from 4.9% in April and a 40-year high of 9.1% in June 2022.

Inflation dropped significantly in May, returning closer to normal levels

https://abcnews.go.com/Business/infl...y?id=100009526

[Rewind]

Live Nation Entertainment, the parent company of Ticketmaster, was criticized by the White House and Congress in January for the exorbitant hidden fees added to the cost of tickets for Taylor Swift's tour. Under pressure from President Biden, Live Nation will now offer "upfront, all-in pricing." No more hidden fees – ticket buyers will know the full cost before they make a purchase. Shares of Live Nation closed today at 90.34, a gain of 3.26 (3.74%).

Live Nation's hidden ticket fees will no longer be hidden, event company says

https://www.cbsnews.com/news/ticketm...parency-biden/

[Rewind]

3M agreed in December 2022 to stop making PFAS. This $10.3 billion settlement will be spread out over 13 years and will fund detection of PFAS and efforts to remove them from public water supplies. It will also settle lawsuits filed by around 300 cities. Shares of 3M closed today at 100.43, a drop of 1.04 (1.02%).

3M reaches $10.3 billion settlement over contamination of water systems with 'forever chemicals'
The Associated Press, Jun 22 2023

Chemical manufacturer 3M Company will pay at least $10.3 billion to settle lawsuits over contamination of many U.S. public drinking water systems with potentially harmful compounds used in firefighting foam and a host of consumer product. The deal would compensate water providers for pollution with per- and polyfluorinated substances, known collectively as PFAS, a broad class of chemicals used in nonstick, water- and grease-resistant products such as clothing and cookware.

Described as "forever chemicals" because they don’t degrade naturally in the environment, PFAS have been linked to a variety of health problems, including liver and immune-system damage and some cancers. The compounds have been detected at varying levels in drinking water around the nation.

https://www.msn.com/en-us/health/hea...ls/ar-AA1cUHdX

[Rewind]

DoorDash was founded in 2013 in Palo Alto, California and is the largest online food ordering and food delivery service in the United States. Its 13,000,000 gig workers, known as "Dashers," are paid per delivery – but they now have a new option. Shares of DoorDash closed today at 76.49, a gain of 1.73 (2.31%).

DoorDash will give drivers the option to earn a minimum hourly wage

https://www.cbsnews.com/news/door-da...y-wage-option/