Dollar Tree and other discount stores suffer from increased supply change costs
- COVID-19 outbreaks and congested ports have drastically increased the cost of moving merchandise across the world
- Dollar Tree said Thursday that rising freight costs will drag down its earnings by $1.50 to $1.60 per share — more than double the 60 cents to 65 cent decline that it had projected in May
Student debt will be canceled by Education Department for 115,000 borrowers
- On August 26, the U.S. Department of Education announced that they will waive $1.1 billion in student debt for 115,000 borrowers
- This debt forgiveness is extended to those who attended ITT Technical Institute, a for-profit school
- Since January, the Biden Administration has canceled student loans for more than 563,000 followers
Chip shortage causes UK car production to drop to 1956 production levels
- On August 26, The Society of Motor Manufacturers and Traders has announced that UK manufacturers built only 53,438 vehicles in July which is a 37.6% decrease from July of 2020
- The SMMT said a global semiconductor shortage, factory shutdowns, and worker absences amid the ongoing coronavirus pandemic all contributed to the decline
Moderna Covid vaccine suspended by Japan over contamination concerns
- Over 1.6 million doses of the Moderna vaccine have been suspended by Japan on August 26 among concerns of contaminated vials
- Across 8 vaccination sites in Japan, 40 unused vials have been spotted with unspecified foreign matter over the past 10 days
