Business, page 5
Running the thing: costs, suppliers, staff and the paperwork.
Friday, October 16
Strategy buys 250 more Bitcoin and repurchases $192 million of STRC stock
Strategy just bought 250 Bitcoin for $21.5 million. The massive corporate treasury now holds 848,250 Bitcoin in total. That stash sits on roughly $6 billion in unrealized profit. Michael Saylor also repurchased $192.4 million of preferred stock.
Kroger to cut 3,000 corporate jobs over three years under CEO Greg Foran
Supermarket giant Kroger is cutting 3,000 corporate jobs over three years. CEO Greg Foran announced the plan in an internal memo on Monday. The cuts impact 37 percent of the corporate workforce according to Bloomberg. Workers now face years of uncertainty about their job security.
Warren Buffett's successor Greg Abel is spending billions on homebuilder Lennar
Berkshire Hathaway increased its Lennar stake by 94 percent in the third quarter. The giant holding company now owns around 11 percent of the homebuilder. Lennar shares have dropped 49.7 percent from their October 2024 high. Greg Abel is making a long-term bet despite a bumpy road ahead.
FedEx and UPS delivery prices set for record-high Q4 according to TD Cowen
Ground shipping costs dropped two percent in the third quarter. Fuel surcharges and discounts helped ease prices for shippers. Holiday surcharges will push rates to record highs soon. Large volume customers are getting the best carrier discounts.
U.S. Bank targets small-business growth by bundling checking and card services
U.S. Bank serves about 2 million small businesses today. Third-quarter average deposits for the segment reached $45 billion. Average loans jumped 11 percent to $18 billion. The lender wants to double that deposit growth soon. Bundling accounts and credit cards is the strategy.
Wegmans opens 110,000-square-foot Charlotte store and targets local rivals on price
Wegmans opened a massive new supermarket in Charlotte on Wednesday. The grocery chain claims its top items cost 20% less than Harris Teeter. Local shoppers are packing the aisles to check out the low prices. Grocery competition is heating up across the region.
IonQ to buy cybersecurity firm Elisity in up to $1.3 billion deal
Quantum computing company IonQ announced a massive all-stock deal on Monday. They are buying cybersecurity firm Elisity for up to $1.3 billion. The buyout includes $150 million in performance earn-outs.
Disney is making a $20 million bid for bankrupt chatbot platform Character.AI
Chatbot platform Character.AI filed for bankruptcy on Monday. The company agreed to sell assets for $20 million to Walt Disney. Character.AI burned through over $8 million every single month. The platform has roughly 12 million active users right now.
JetBlue launches new BlueFirst domestic class with flights starting at $249
JetBlue just put its new BlueFirst domestic class on sale for over 30 routes. The first flight takes off on Dec. 8 between Boston and Fort Lauderdale. Introductory fares start at $249 for select flights. Seats offer up to 7 more inches of legroom.
JPMorgan, Wells Fargo, Goldman Sachs and Citigroup report third-quarter earnings
Four big U.S. banks just posted third-quarter earnings results. JPMorgan Chase and three major competitors faced mixed market outcomes. Goldman Sachs beat revenue estimates thanks to strong equities trading. Watch your borrowing costs as these banking trends unfold.
Fox Shareholders approve $22 billion acquisition of streaming platform Roku
Fox Shareholders voted to approve buying streaming giant Roku today. The massive cash and stock deal values Roku at $22 billion. Roku reaches nearly 100 million homes through connected TV. Fox hopes to combine live sports with streaming technology.
Thursday, October 15
Rush and Endeavor plan merger to form Illinois hospital giant
Two massive Illinois hospital networks plan to join forces soon. Endeavor and Rush want to create a combined healthcare powerhouse. The mega system will serve over 2 million patients yearly. State regulators still need to give final approval for the deal.
Florida Medicare premiums and deductibles set to rise in 2027
Florida Seniors face rising Medicare costs in 2027. Monthly premiums and deductibles are going up across the board. Doctor visits and prescriptions will cost you more. Leaving your coverage on autopilot will hurt your fixed income.
Tuesday, October 13
LT350 replaces 300 megawatt data centers with 300 small facilities
LT350 wants to replace one giant 300 megawatt data center with 300 small 1 megawatt facilities. CEO Jeff Thramann says the company puts these in parking lot canopies.
Global finance Group launches new metrics to measure nature risks
Big banks and investors just got a new rulebook. The Nature Positive Initiative created four core indicators to track ecosystem health. This replaces over 600 confusing metrics with one simple standard. Financial firms will now use this to see how nature affects their money.
FAA warns US airlines of safety risks over Saudi Arabia airspace
The FAA issued a new safety warning for Saudi airspace. Military strikes hit Riyadh’s international airport twice this month. The airport remains closed to all flights until Monday evening. This affects US carriers and cargo planes flying over the region.
JPMorgan CEO Jamie Dimon warns customers about AI money risks
New AI tools can now manage your bank accounts. Jamie Dimon, head of JPMorgan Chase, says this is dangerous. If an AI bot makes a mistake, you own the loss. You must understand this liability transfer before using these bots.
NYC offers $5 million to move truck deliveries to night hours
NYC is paying to move truck deliveries to night. This helps clear traffic and saves you time. Big names like Wegmans are already doing it. The city has $5 million in total funding. You can apply for cash to adjust your schedule. Check if your delivery partners can work late.
NYC mom makes $1.7 million selling diaper bags from apartment
Alexandra Rutkay is a makeup artist. She made a small crossbody diaper bag. She sold $50,000 in just 3 days. Now her sales hit $1.7 million. She used TikTok to find customers. This shows a simple idea can scale fast.
NJ Transit trains will end in Hoboken for 5 weeks
NJ Transit trains will stop at Hoboken for 5 weeks to finish a new bridge. The transit agency is moving the last track.
Grocery store refrigeration upgrades cut energy bills by $10,000 yearly
Your store cooling systems run all day long. That steady hum is costing you real money. Replacing old units cuts energy use by 10 percent. You save $800 every month on your electric bill. Older systems also cost more to fix and maintain. Stop paying for the extra power you do not need.
Monday, October 12
UK government promises new rules for Heating oil as prices double
Heating oil prices have doubled in one year. Millions of households are now paying much more. The government promises new rules to help people. But there is no date for these changes yet. You might still pay high prices this winter. Check your tank levels and plan your budget carefully.
Grocery shoppers want more healthy and global meals in deli sections
Deli prepared foods are growing faster than any other deli category. Many customers feel the current options are too boring. They want more spicy chicken and Italian sausage. They also want healthy Asian dishes like Korean barbecue. Adding these items can turn a quick snack into a full meal.
75 million Americans await Social Security update this Wednesday
75 million Americans who receive Social Security or Supplemental Security Income are waiting for news. The Social Security Administration will release the new cost of living adjustment this Wednesday.
Hackers force hundreds of French supermarket freezers to heat up
Hackers remotely accessed software controlling store refrigeration units. They forced freezers to reach temperatures up to 50C overnight. Millions of euros in fresh and frozen food were spoiled. Retailers were forced to throw out entire inventory stocks.
Saunas may improve mortality rates and blood pressure
Using a sauna for 19 minutes, four to seven times a week, can improve mortality. Dr. Azar explains that the heat helps blood vessels stay flexible, lowers blood pressure, and decreases inflammation, which is the body's process of fighting against harm.
Robert E. Hall and Michael Woodford win the 2026 Nobel Prize
Professor Robert E. Hall and Professor Michael Woodford just won the 2026 Nobel Prize in Economic Sciences.
Walmart opens 900,000-square-foot automated center in California to speed shipping
Walmart opened a massive new hub in Stockton, California. It uses smart robots to cut packing steps down from 12 to 5. Faster shipping means your online orders arrive quicker. That helps store owners keep shelves full.
AI is driving half of US economic growth
Artificial intelligence is currently adding 1 percentage point to the Gross Domestic Product, a measure of the size and health of the economy. "now roughly half of GDP growth comes because of AI." However, a slowdown in AI and sectors sensitive to interest rates could hit by 2027.
