Business news 2025

[Rewind]

In Stephan Pastis' June 17 2023 Pearls Before Swine comic strip, Goat, reading a newspaper, says, "Looks like artificial intelligence is really getting better." Rat asks, "What can we do about regular intelligence?" Goat replies, "I think that's stuck where it is." Rat declares, "Scientists need to prioritize." Sorry, Rat, that is not happening.

According to the Exploding Topics website, there are 333,340,000 companies in the world and 40% are using artificial intelligence (AI) technology. Another 42% of exploring the use of AI. The Economic Times says "2025 will see AI turn into business value. AI has evolved from a trend to a key business tool, enhancing efficiency and creating new roles."

Five work and business trends you need to know for 2025
Workplaces, technology and customer expectations are evolving. Here's what to expect in 2025.

https://www.uschamber.com/co/run/hum...trends-to-know

[Rewind]

The federal minimum wage is $7.25 an hour. It hasn't changed since 2009. Economic Policy Institute analyst Sebastian Hickey told CBS MoneyWatch that the base rate "has lost 30% of its purchasing power due to inflation. The number of workers that earn $7.25 per hour is quite low but that still means with inaction we are leaving tens of millions of workers out to dry." Twenty states still adhere to that minimum wage. Thirty states have a higher minimum wage – and 21 will be raising it in 2025..

Millions of minimum wage workers across the U.S. will see pay Increase in 2025
The minimum wage is set to rise across 21 states and 48 cities and counties.

https://www.latintimes.com/millions-...alifies-570706

[Rewind]

In July 2003, Martin Eberhard and Marc Tarpenning founded Tesla Motors, named for inventor and engineer Nikola Tesla. In 2004, Elon Musk made a $6.5 million investment in the company and became chairmen of its board of directors. Musk became CEO in 2008. Shares of Tesla closed today at 379.28, a drop of 24.56 (6.08%).

Tesla sales decline 1.1% in 2024, the company's first annual sales drop in a decade

https://www.cbsnews.com/news/tesla-s...-january-2025/

[Rewind]

"I Spy" is (a) a 1960s television series; (b) a game played by children; (c) the slogan of Apple's virtual assistant Siri; or (d) all of the above.

Apple agrees to pay $95 million to end Siri spying lawsuit

https://finance.yahoo.com/news/apple...123250623.html

[Rewind]

President Biden, under authority of the Defense Production Act of 1950, blocked Nippon Steel's proposed $14.9 billion purchase of U.S. Steel. In a joint statement, the two companies said Biden's decision is "a clear violation of due process and the law governing CFIUS" – the Committee on Foreign Investment in the United States – and will deny billions of dollars in investments planned in the United States. They vowed to take "all appropriate action to protect our legal rights."

Biden blocks U.S. Steel takeover by Japan’s Nippon Steel, citing national security

https://www.cnbc.com/2025/01/03/bide...-security.html

[Rewind]

Fubo – the name is short for "football" – was founded January 1, 2015 and initially offered livestreams of soccer games. In 2017. Fubo added MLB, NBA, NFL and NHL games along with movies, news programs and network TV series. Shares of Disney closed today at 111.05, a drop of 0.11 (0.1%).

Disney to combine its Hulu+ Live TV with streamer Fubo

https://www.cnbc.com/2025/01/06/disn...e-tv-fubo.html

[Rewind]

Venu will not have a venue. Shares of Disney closed Friday at 108.65, a drop of 1.11 (1.01%). Shares of Fox closed at 45.86, a drop of 0.75 (1.61%). Shares of Warner Bros. Discovery closed at 9.70, a drop of 0.36 (3.58%).

Disney, Fox and Warner Bros. Discovery call off plans to launch Venu sports streaming service

https://www.cnbc.com/2025/01/10/disn...g-service.html

[Rewind]

Starbucks, founded in 1971 in Seattle, has more than 69,900 locations in the United States. Shares of Starbucks closed today at 93.56, a gain of 1.31 (1.42%).

Hanging out at Starbucks will cost you as company reverses its open-door policy
AP News, Jan 13 2025 2:03 PM

If you want to hang out or use the restroom at Starbucks, you’re going to have to buy something. Starbucks today said it is reversing a policy that invited everyone into its stores. A new code of conduct – which will be posted in all company-owned North American stores – also bans discrimination or harassment, consumption of outside alcohol, smoking, vaping, drug use and panhandling. The new rules are designed to help prioritize paying customers.

https://apnews.com/article/starbucks...9a4e56848ed28b

[Rewind]

Much of Chase's profit comes from mortgages, home loans, auto loans and credit cards with interest rates ranging from 4.875% to 35.99% – while the interest paid on savings accounts is a pathetic 0.01%. Shares of JPMorgan Chase closed today at 252.35, a gain of 4.88 (1.97%).

JPMorgan Chase posts record profit as the bank's massive scale pays off
The bank said profit rose 50% to $14 billion in the fourth quarter.

https://www.nbcnews.com/business/bus...ays-rcna187845

[Rewind]

Berthold & Hilda Reich, Sigmund & Mathilda Rohrbach and Justin & Alma Zimmerman opened Cleveland Fabric Shop in 1943. Twenty years later there were 18 Cleveland Fabric Shops in Ohio and the stores were renamed Jo-Ann's Fabrics after Joan Zimmerman and Jacqueline Ann Rosskamm, daughters of the co-founders. The chain became Joann in March 2018. There are now 850 Joann stores nationwide. After Joann's first bankruptcy filing in March 2024, its share price plummeted to 0.0765, trading was halted and its stock was delisted from Nasdaq.

Joann files for bankruptcy – again

https://www.cnn.com/2025/01/15/busin...tcy/index.html