U.S. beef prices set to rise further as ranchers’ costs soar
How much Americans will pay for a steak is going to be tested in the near future.
Bloomberg News
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Commodities hit new highs as traders shun Russian purchases
Oil passed $110 a barrel, aluminum hit a fresh record and wheat rose to the highest since 2008. In Europe, natural gas prices and coal set all time highs, deepening the region’s energy crisis.
Remote work seen more persistent than planners expected
The analysis found that work-from-home situations rose for every major demographic group and industry, but was especially sharp among highly educated workers.
Study shows omicron sub-variant no more severe than first strain
The emergence of BA.2 has caused widespread concern as it appears to be even more transmissible than the original omicron strain.
Heineken warns worst inflation in decade to weigh on beer
The brewer said it will raise prices for its beer by “courageous” amounts as it seeks to offset rising raw material and energy costs and “crazy” shipping rates.
Dolphins owner dangled $100K to lose games, ex-coach says
Amid a 58-page lawsuit accusing the NFL of pervasive racial bias, Brian Flores alleges he was instructed—and incentivized—to tank games in his first year as head coach of the Miami Dolphins.
Stocks storm back from huge early rout to close higher
A stock selloff that at one point rivaled any of the last two years was all but wiped out as dip buyers emerged by Monday’s close, the latest breathtaking reversal in markets.
Target CEO expects fewer store trips as shoppers confront inflation
Target’s top executive said U.S. consumers will drive less and consolidate their shopping into fewer trips as they adjust to pricier gasoline and the highest inflation rate in almost four decades.
Startups raked in $621 billion in 2021, shattering funding records
In 2021, investors more than doubled the amount of cash they handed out to startups, according to new data from research firm CB Insights.
Allegiant orders 50 Boeing Max jets, ending all-Airbus fleet
Allegiant Airlines—which operates a major base in Indianapolis—is reversing a strategy of keeping costs low by flying only Airbus SE planes that it typically leased or purchased used.
Faster, ‘fun-to-do’ golf driving record numbers to the game
More than 500 million rounds of golf were played in 2020, and the early returns from 2021 indicate that this year will be even better.
ESPN has $400M in college football playoff ads at risk from COVID
The national spike in COVID-19 cases imperils hundreds of millions of dollars in college football playoff advertising for Walt Disney Co.’s ESPN sports network because of the growing risk games might be canceled, Bloomberg Intelligence estimated in a note Tuesday.
Fearing the ax in 2022, CEOs sweat supply chain more than COVID
A new survey of more than 3,000 top executives found that supply chain, labor market and digitalization topped the lists of concerns for 2022.
Restaurants and theaters begin to close as omicron grips U.S.
There were no government orders or local restrictions prompting the closures this time around. Rather, businesses were forced to close due to too many staffers getting COVID—or out of caution.
Omicron at least doubles risk of getting infected on planes, airline adviser says
Passengers should avoid face-to-face contact and surfaces that are frequently touched, and people sitting near to each other should try not to be unmasked at the same time during meals, according to the top medical adviser to the world’s airlines.
Child tax credit ending just as inflation hits new highs
The last of six monthly payments, up to $300 per child, is scheduled to hit bank accounts on Wednesday.
New Salesforce co-CEO Bret Taylor has growth on his mind
Investors are clamoring for the top provider of cloud-based customer relations management software to prove it can expand beyond its core business. Any misstep is bound to be noticed.
U.S. commerce secretary urges boost in semiconductor output
Gina Raimondo will press Congress to pass legislation that would put about $52 billion toward U.S. chip manufacturing in a speech to the Economic Club of Detroit during a visit to the city that’s the capital of American auto manufacturing.
Zoom stock tumbles amid signs of slowing growth
The video-conferencing company reported a smaller-than-projected number of large customers for a second straight quarter, stoking concerns about growth as more workplaces and schools open back up.
Inflation set to spoil holidays for struggling U.S. families
Inflation is eating into recent wage increases, and the timing couldn’t be worse after federal pandemic relief expired for about 7.5 million people.