Market bull and CEO of company Yardeni Research, which provides investment strategies, Ed Yardeni predicts that this coming Christmas season will be one of the best. His prediction rests on the fact that consumers are emerging from the pandemic after nearly a year and a half and thus, feel like spending.
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American Airlines will pay flight attendants 150% premium pay if they choose to work during the Thanksgiving and Christmas holidays. Furthermore, flight attendants can earn 300% premium pay if no absences are taken during peak holiday time between November 15th and January 2nd.
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Samsung Heavy Industries (SHI), a shipbuilding giant based in South Korea, has announced the closure of its Ningbo plant in eastern China. SHI was believed to have agreed to hand over the land of the Ningbo plant to the local Chinese government for industrial renewal.
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The electric car manufacturing giant Tesla reached a trillion-dollar market value last week. Following the announcement that car rental company Hertz would purchase 100,000 Tesla Model 3s, Tesla’s stock price rose 12.7%, raising the company’s market cap past the trillion-dollar mark.
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In an effort to evade job loss of employees at its Rotherham plant in the UK, Liberty Steel, a global steel manufacturing and mining company, has received an injection of nearly $70 million (£50 million) in shareholder funds into the company. This comes after the company’s major financial service lender, Greensill Capital, filed for insolvency protection earlier this year. These funds will be issued through a separate corporate entity called Liberty Captial.
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The CEO of Kraft Heinz, Miguel Patricio, warns the public that higher food prices are not changing in an
interview with the BBC. Numerous factors have resulted in Heinz, and many other companies, raising their food prices. The biggest contributors being an increase in price of ingredients and a lack of labor internationally.
Over the coarse of the pandemic, there has been an increased demand among consumers for electronic products, particularly Samsung products. In an effort to meet demand requests, the Korean tech giant plans to enlarge production lines and build more manufacturing plants in Pakistan, as well hire more workers.
Read MoreAs consumers pledged their allegiance to e-commerce amid pandemic restrictions on outdoor experiences, the shipping industry has been at the height of demand. The world’s largest shipping companies and ports are running low on containers, truck drivers, and dock workers.
Read MoreWalt Disney Co. announced Friday that the movies set to release this year will be shown exclusively in theaters before they are released on other platforms. The movie of the summer, Black Widow, much awaited by audiences had been released on both Disney+ and theaters. Much to the actress’s dismay, Black Widow’s release on Disney+ generated a revenue of $80 million, which was in violation of Scarlett’s contract.
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Friday, September 10th marks a win for consumers following the conclusion of the trial between Apple and Epic Games.
Apple is no longer allowed to prohibit developers from promoting their own, often cheaper, payment methods as an alternative to Apple’s own in app purchasing.
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