Business news 2024

[Rewind]

Earl Tupper created airtight food-storage containers in 1942 and began selling them to the public as Tupperware in 1946. At its peak, Tupperware was sold in more than 100 countries. Sales have fallen dramatically in recent years. In a regulatory filing on April 7, 2023, Tupperware vice president Karen Sheehan warned that there is "substantial doubt about the company's ability to continue as a going concern." Shares of Tupperware closed today at 0.51, unchanged. Over the past five years, the share price has fallen by 15.17 (96.75%).

Tupperware, no longer a kitchen staple, files for bankruptcy

https://www.npr.org/2024/09/18/nx-s1...are-bankruptcy

[Rewind]

Pacific Coast Oil Company was founded in 1879 in San Francisco. After merging with Standard Oil Company of Iowa, it became Standard Oil Company of California in 1906 and was renamed Chevron in 1984..Chevron acquired Gulf in 1984, Texaco in 2001 and Unocal in 2005. Shares of Chevron closed today at 147.54, a gain of 1.86 (1.28%).

FTC set to greenlight Chevron's $53 billion purchase of oil rival Hess, sources say

https://www.reuters.com/markets/deal...ay-2024-09-23/

[Rewind]

"Permanent" turned out to be a misnomer. Coca-Cola Spiced is being discontinued after only six months. Among the many other discontinued Coca-Cola flavors are lime, raspberry, cherry vanilla, Diet Cherry Coke, Diet Coke with Lemon and coffee-flavored Coca-Cola Blak. Shares of Coca-Cola closed today at 71.33, a drop of 0.40 (0.56%).

Coca-Cola is pulling its newest 'permanent' flavor from store shelves

https://www.cnn.com/2024/09/24/food/...ued/index.html

[Rewind]

Worldwide, approximately four and a half billion Visa debit cards.and credit cards have been issued. They are accepted by more than 130,000,000 merchants and businesses – but those merchants and businesses pay Visa a "processing fee," also known as a "swipe fee," on every transaction. It ranges from 1.4% to 2.5%. Many businesses have raised prices to cover those fees – and the Department of Justice is not happy.

US Justice Department accuses Visa of illegal monopoly that adds to the price of ‘nearly everything’

https://www.cnn.com/2024/09/24/busin...uit/index.html

[Rewind]

In a statement, DIRECTV – which will assume Dish Network's $9.9 billion debt – said the acquisition will allow the company to offer "smaller content packages to consumers at lower prices." That falls under the categfory of "We'll believe it when we see it.".

DIRECTV to acquire Dish Network, Sling TV for $1

https://www.latimes.com/entertainmen...e-dish-network

[Rewind]

Average rent is now $1,556 per month. Average price of a gallon of gasoline is now $3.17. (California has the highest price: $4.68.) Average price of a dozen large eggs is $3.61. Price has risen recently because of outbreaks of bird flu. The culling of millions of chickens has resulted in low supplies of eggs.

U.S. inflation reaches lowest point since February 2021
Cooling inflation, solid hiring and healthy growth could erode former President Donald Trump’s perceived advantage on the economy as measured by public opinion polls.

https://www.huffpost.com/entry/consu...b0f3da6455ef10

[Rewind]

The first Southland Ice Company convenience store opened in 1927 in Dallas. In 1928, after several more locations had opened, the chain was renamed Tote'm Stores. In 1946, it became 7-Eleven to reflect the stores' operating hours, 7 AM to 11 PM. Shares of 7-Eleven parent company Seven & I Holdings closed today at 15.35, a drop of 0.18 (1.16%).

7-Eleven is closing more than 400 locations
CNN, Oct 11 2024 1:04 PM EDT

Several hundred underperforming 7-Eleven locations across North America are closing..Seven & I Holdings, the chain’s Japan-based parent company, revealed in an earnings report Thursday that 444 7-Elevens are shutting down because of a variety of issues, including slowing sales, declining traffic, inflationary pressures and a decrease in cigarette purchases. A list of closing locations wasn’t immediately released. The chain has more than 13,000 stores across the United States, Canada and Mexico.

https://www.cnn.com/2024/10/11/busin...res/index.html