Business news 2024

[Rewind]

The federal minimum wage is $7.25 an hour and has not changed since 2007. In 2024, six states – California, Connecticut, Maryland, New Jersey, New York, Washington – will have a minimum wage of more than double that amount.

22 states to raise minimum wage on New Year's Day
HuffPost, Dec 26 2023 7:00 AM EST

Workers in 22 states and dozens of localities will see a wage hike on New Year’s, thanks to cost-of-living adjustments built into minimum wage laws. In all, 65 cities, counties and states will hike their wage floors at the start of 2024, the majority of them hitting at least $15 per hour. Another three states and 22 local jurisdictions will boost their minimums later in the year, including 15 that will set a floor of at least $17 for some workers.

https://www.huffpost.com/entry/minim...b04da9842608dd

[Rewind]

Happiness turns to sadness the minute you realiize your pay increase won't do you any good.....because you're losing your job.

California lawmaker’s minimum wage increase bill leads to massive layoffs for pizza delivery drivers
City News Service, Dec 26 2023

Pizza Hut is set to lay off more than 1,200 delivery drivers in Los Angeles, Orange and Riverside counties in 2024, ahead of a new state law that boosts the fast-food minimum wage by $4 to $20 per hour. The law, known as Assembly Bill 1228, was introduced by Assemblyman Chris Holden, D-Pasadena, and signed into law in September by Governor Gavin Newsom. The layoffs are planned through the end of February, ahead of the pay increase slated to begin in April. Pizza Hut franchises are preparing to pivot toward third-party apps such as DoorDash, GrubHub and UberEats for pizza and food deliveries.

https://www.msn.com/en-us/money/comp...rs/ar-AA1m57Ju

[Rewind]

"The rich get richer and the poor get poorer," declared 19th-century British poet Percy Bysshe Shelley. That is more true now than ever.

The world’s richest people gained $1.5 trillion in 2023 – and Elon Musk led the way despite woes at X

https://fortune.com/2023/12/29/world...k-tesla-leads/

[Rewind]

Samsung Galaxy S23 phones were introduced on February 17, 2023. Hey, it's been 11 months – time to make them obsolete!

Samsung's new Galaxy phones are coming January 17

https://www.cnet.com/tech/mobile/sam...ing-on-jan-17/

[Rewind]

Windows computer keyboards have been unchanged since 1994 – until now. The AI key will replace the Alt key at the right of the space bar and will bring up Microsoft's Copilot chatbot. Shares of Microsoft closed today at 367.75, a drop of 0.19 (0.052%).

Microsoft announces AI key on Windows 11 PCs

https://www.bbc.com/news/technology-67881373

[Rewind]

Multinational investment company BlackRock, founded in 1988 in New York City, is the world's largest asset manager, with holdings worth $9.1 trillion. Shares of BlackRock closed today at 794.52, a drop of 2.67 (0.33%)

BlackRock cuts 3% of global workforce, citing dramatic industry shifts

https://finance.yahoo.com/news/black...190205123.html

[Rewind]

Sam Walton founded Walmart in 1962 in Rogers, Arkansas, and founded Sam's Club in 1983 in Midwest City, Oklahoma. Worldwide, there are around 600 Sam's Clubs and 10,600 Walmarts. At each store, an employee near the exit glances at the receipt of each customer leaving the store and makes a mark across it, usually with a yellow highlighter, then motions the customer to proceed. Somehow that is supposed to prevent theft. I fail to see how. At Sam's Club, those humans will be replaced by A.I. – and no more yellow highlighters.

Sam's Club will stop checking receipts at the door – and instead use AI to snap photos of your shopping cart

https://www.businessinsider.com/sams...receipt-2024-1

[Rewind]

William Kelly and William Moore, former Glidden employees, founded Kelly-Moore Paints in 1946 in San Carlos, California. In 2023 the company moved its headquarters to Irving, Texas. In January 2024, all 157 stores are closing.

Kelly-Moore Paints to close all its stores nationwide

https://www.kron4.com/news/national/...es-nationwide/

[Rewind]

CVS, originally Consumer Value Store, was founded in 1963 in Lowell, Massachusetts. At one time the chain had more than 10,000 locations in the United States. Six hundred CVS stores were closed in 2022-23 and another 300 are scheduled to be closed in 2024 along with dozens of CVS pharmacies located inside Target stores.

CVS will close dozens of pharmacies in Target stores beginning in February

https://www.msn.com/en-us/money/comp...ry/ar-AA1mZNt6

[Rewind]

Citibank was founded in 1812 as City Bank of New York. With $1.68 trillion in assets, Citibank is the fourth largest bank in the United States, behind Chase, Bank of America and Wells Fargo. Worldwide, Citibank has more than 200,000,000 accounts, more than any other bank.

Citi to cut 20,000 jobs, posts $1.8 billion loss in 'disappointing' quarter

https://www.newsnationnow.com/busine...-billion-loss/