Business Update – July 19, 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Apple leads the stock market down
U.S. stocks fell sharply into the final hour of trading Monday . News that Apple plans to curb spending next year to prepare for a possible recession seemingly had a major effect on other stocks.
Delta buys a hundred Boeing 737 Max 10’s
For the first time in 11 years, Delta Air Lines bought a large batch of Boeing planes. The deal is for 100 Boeing 737 Max 10’s with options for 30 more. Deliveries are to begin in 2025.
Netflix is bracing for a storm
The streaming company says it expects to lose 2 million subscribers this period. As one of the most expensive of the big streaming services, many people may look to cancel Netflix as they try to cut costs.
IRS urges extension filers to make use of website tools
With millions of people still waiting to file their tax returns, the IRS reminds them to file as soon as possible and take advantage of special tools available on IRS.gov that can help them file.
Big banks anticipate less demand for loans as economy slows
U.S. bank executives said they’re optimistic on loan growth, but warned demand could weaken later this year if the worsening economic outlook starts to hurt consumer confidence.
US dollar eases after last week’s high
The U.S. dollar eased on Monday, retreating from the two-decade high hit last week. Traders are hedging their bets on how aggressively the Federal Reserve will raise rates at its meeting later this month.
Musk asks for more time
Elon Musk asked the Delaware Court of Chancery to reject Twitter’s motion for a four-day expedited trial this September. He says he needs extensive time to analyze Twitter’s spam-account data and wants the trial delayed until at least February 2023.
Home builders feeling the pinch of inflation and high interest rates
High inflation and steep borrowing costs brought customer traffic to a near standstill in July. U,S. home builder sentiment hasn’t been this low since the beginning of the coronavirus pandemic.
FIRE is great in theory, but does it work for everyone?
The Financial Independence/Retire Early (FIRE) movement has gained popularity as of late, but one writer decided it wasn’t for her when she gave it a try. She breaks down what she learned here.
Toys ‘R’ Us returns from the dead
After filing for bankruptcy and closing all of its American stores in 2018, Toys ‘R’ Us has found new life as a store-within-a-store at Macy’s. The arrangement will see the nostalgic brand open across the country by Christmas time.
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