Business Update – April 5, 2023
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Why do US banks keep failing?
In this video, CNBC discusses the collapse of several banks and the impact it has had on the economy, with over 550 banks failing since 2001 according to the FDIC.
New EV tax credit rules make many vehicles ineligible
The US Treasury Department has released new EV tax credit guidelines, limiting the number of vehicles that can qualify for the tax break which is worth up to $7,500.
Many legacy blue check holders still have their verification marks, despite not paying for Twitter Blue
Twitter’s blue verification checkmark system was supposed to be purged by Elon Musk on April 1, but instead, the social media platform appeared to have targeted only one account from a major publication Musk dislikes: The New York Times.
Starbucks fires union leader
Starbucks has fired a shift supervisor who was a union leader at a Buffalo store that won a union campaign, allegedly for being late to work. The move comes two days after CEO Howard Schultz testified before the U.S. Senate on Starbucks’ illegal union-busting campaign.
GM reports 18% rise in Q1 US sales, confirms plan to build 50k EVs in H1 2023
General Motors announced that its US sales for the first quarter of 2023 have increased by 18% YoY, with over 600,000 vehicles delivered. The company also confirmed plans to build 50,000 EVs in the first half of 2023 and double that in the second half.
Tesla shares drop as investor concerns grow
Tesla’s shares fell by 6% on Monday as the company’s latest delivery report showed some investors’ concerns about further price cuts to drive sales, eating into the margins.
McDonald’s lays off corporate workers to focus on expansion plans
McDonald’s is laying off corporate employees despite solid sales, as it focuses on expansion and new locations in the US and Europe. The layoffs are expected to trim and consolidate teams that don’t align with the company’s priorities, including innovations like order-ahead drive-through systems.
IRS announces Saturday hours for taxpayer assistance centers before April 18 deadline
The IRS has announced that it will open many of its Taxpayer Assistance Centers (TACs) around the country on Saturday, April 8, for face-to-face help with tax matters. During these special openings, taxpayers can get walk-in services for in-person help on many tax issues, except for making cash payments and tax return preparation.
How strangers on the internet are helping people stay focused
To combat the challenge of staying motivated and on task while working remotely from home, some people are turning to strangers to virtually sit with them via video call as they work. This solution provides a low level of accountability that helps prevent distractions and keeps individuals on track.
Is the 5-9 am morning routine actually effective?
The 5-9 am morning routine has become a trend on TikTok with the hashtag #5to9routine having 35 million views. However, according to psychologist Suzy Reading, it may not necessarily make you more productive, as productivity can depend on an individual’s natural body clock and sleep needs.
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