Grocery prices have been on the rise since the pandemic lockdowns hit last spring, spurring shoppers en masse to conduct weeks of shopping in single trips, emptying shelves and backup warehouses.
Category Archives: business
Some gas stations run dry as motorists rush to fill their tanks after pipeline shutdown
“Americans hoarding gasoline are running the system dry, a system that won’t be able to fully replenish retail stations for perhaps weeks,” one gas analyst said.
Amid worker shortages, businesses face double whammy of rising costs and wage pressure
The challenge that companies face going forward is managing price increases due to the added cost of materials and labor, economists say.
Job openings leaped above 8 million in March, a new record high
“Labor supply appears to be tighter than the unemployment rate suggests, likely reflecting the impact of unusually generous unemployment benefits and lingering virus-related impediments to working,” said one analyst.
L Brands to spin off Victoria's Secret by August
The company said it held discussions with multiple potential buyers, but concluded that separating Victoria’s Secret and Bath & Body Works into two separate publicly traded companies would be a better option.
Colonial pipeline hack claimed by Russian group DarkSide spurs emergency order from White House
The federal government issued a rare emergency declaration on Sunday after a cyberattack on a major U.S. pipeline choked the transportation of oil.
Marriott reports loss as bookings hurt by Covid pandemic
Marriott hotel chain reporting a loss as booking still hurt by pandemic, companies in hiring crunch as employees face health concerns and childcare issues. CNBC’s Rahel Solomon reports on a week of busy business.
Facebook content moderators say they receive little support, despite company promises
“I don’t really want to be numb to human suffering,” said one former content moderator.
NTSB: Tesla owner got into driver's seat before deadly crash
The NTSB said it tested a different Tesla vehicle on the same road, and the Autopilot driver-assist system could not be fully used.
Pipeline shutdown could lead to price spikes, shortages — and problems for East Coast airports
The biggest threat to gasoline is hoarders, analysts say.