Business Update – 8 June 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Price of gas rises yet again
The national average gas price is now $4.87, with 10 states sitting at over $5 a gallon. Many more states are just pennies away, and costs are expected to rise further over the summer.
Elon Musk threatens to walk away from Twitter deal
Musk openly accused the social media giant of breaching their merger agreement on Monday, accusing them of not providing the data he has requested regarding spam and fake accounts.
UK trials a 32-hour work week
Over 70 companies and 3,300 workers are taking part in the world’s largest labor experiment, where only 4 days of work will be required without a cut in pay. The trial will last 6 months.
Peloton names new CFO
As the home exercise equipment company navigates persistent losses, Liz Coddington was named the new CFO. This comes just 4 months after Peloton named a new chief executive, and before the end of its fiscal year on June 30.
Morgan Stanley executive warns of volatile market conditions
The co-president of Morgan Stanley says that as fears of recession continue, investors should brace themselves for a “hot and cold” market environment in the coming months.
One of first Starbucks to unionize will close
Less than two months after the store in Ithaca, New York voted to unionize, Starbucks informed staff the store will close with one week’s notice. The closure is being called a “blatant and illegal retaliation” by workers.
JetBlue revises Spirit Airlines offer
After a hostile takeover bid last month, JetBlue improved its offer on Monday to buy Spirit Airlines. The new deal would see Spirit owners receive $31.50 per share.
Bitcoin rises over the weekend
After a 6-month slump, Bitcoin finally enjoyed a 4.3% rise on Monday. The world’s largest cryptocurrency has been mostly moving in tandem with traditional markets, with investors seeking the bottom in the chaos.
Apple introduces its own version of buy now pay later
Apple announced its Apple Pay Later service on Monday at WWDC. The new financial product allows you to make four equal payments over six weeks with no interest or late fees.
Personal finance advice rarely accounts for the emotional aspect of money
Budgeting tips don’t go far without addressing the emotional part of decision-making. Read on for tips on how to address emotions when managing your accounts.
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