• Angela Strand, the new chairwoman at Lordstown Motors has said that the productions plans for their electric pickup trucks Endurance will be on track to be produced in limited quantity in September
• Lordstown Motors shares have risen this Tuesday afternoon by up to 15% and evened out at $10 a share
• 2021 has been rough for Lordstown Motors lately and their stock price had been reduced by 50% this year and an additional 18.8% this Monday

• Best Buy is now beginning to sell outdoor grills, luggage, and patio furniture on their website 
• The retailer’s goal is to take advantage of the reopening economy along with other companies who want to expand their customer base online 

• Yesterday (Monday), Ford has begun shipping their Bronco SUVs from their Assembly line in Michigan
• This comeback of the Bronco SUV is seen as one of the most important product launches from Ford in decades 

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• Sales for electronic retail company Gamestop have risen 25% during the first fiscal quarter as the company shifts focus to e commerce
• Amazon executive Matt Furlong has become the new CEO of Gamestop

• A new start-up named Kepler Communications is building a satellite internet network for service outside of the Earth and has raised a total of $60 million in this round of funding
• Kepler Communications will be working on putting a little over 200 satellites into orbit in order to get its network fully operational by 2023

• For the second year in a row, Best Buy has reported that they will be closed Thanksgiving Day 
• Along with Target and Walmart, best Buy is closing their stores for the national holiday

• RH’s  1st quarter profit and sales beat analysts’ estimates, as the high-end furniture chain saw continued strong demand for its sofas, rugs, lighting and other home décor
• RH  has given a stronger-than-expected sales forecast for the second quarter
• CEO Gary Friedman said that a strong housing and renovation market, a record stock market, low interest rates, and the reopening of the U.S. economy all bode well for the company

The post Business News – 06-09-2021 appeared first on Easy Ad - Local Small Business Resources.

• The government has issued a new batch of $1,400 stimulus checks, bringing the total number of payments to almost 167 million, or about $391 billion
• This tranche included more than 1.8 million payments worth more than $3.5 billion
• Most of the payments were prompted by tax returns recently processed by the IRS

• Best Buy reports that their sales have grown 36% in the first quarter of this year as shoppers’ stimulus-fueled spending spree included consumer electronics
• The retailer has raised its forecast for the year after seeing demand continue into the second quarter
• CEO Corie Barry said the strong housing market has inspired consumers to invest in technology and appliances

• Gap and Walmart will launch a new brand, Gap Home, with bedding, bath, and décor
• The initial collection will debut on Walmart’s website June 24 and eventually be available in the discounter’s stores
• With the multiyear deal, Walmart aims to drive more online sales and Gap wants to strengthen its brand among shoppers

• Ford CEO Jim Farley largely met Wall Street’s expectations during his first investor day leading the automaker
• But Ford didn’t deliver on everything investors were hoping to have answered during the event
• Shares of Ford have roughly doubled under Farley’s leadership, including an 8.5% increase on Wednesday

Biden Budget explained – Where will the $5T go over the next 10 years?

• President Joe Biden will propose $5 trillion in new federal spending over the next decade on Friday as part of his fiscal year 2022 budget request
• The new spending would fund Biden’s sweeping domestic agenda: Expanding the social safety net for working families and modernizing America’s infrastructure
• It would be paid for in part by $3.6 trillion in additional revenues over the same period and would result in a net deficit of $1.4 trillion
• Biden’s budget also projects that inflation will reach no more than 2.3% annually over the next 10 years

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