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Business News – 11-09-2021

K Buenavista — Tue, 09 Nov 2021 20:37:27 +0000

As part of their diversity hiring initiative, leaders at one of the largest investment firms in the world, State Street Global Advisors, need permission to hire white men
The investment firm aims to triple the amount of black, asian, and other minority staff in senior positions by 2023, according to the Sunday Times

On November 9, Inspire Brands launched a ghost kitchen in Atlanta that houses five of its fast-food brands
The restaurant is called “Alliance Kitchen and customers will be allowed to order from both third-party aggregator platforms and the brand’s apps
Alliance Kitchen uses segmented workstations that allow it to fill orders for multiple brands and Inspire said this results in both labor efficiency and the ability for workers to train across the kitchen

According to an announcement on November 9, General Electric will break up into three separate companies after years of seeing its stock underperform
The company said that the three separate units will focus on aviation, health-care, and energy and GE plans to spin off the healthcare unit as soon as 2023 and the energy unit by early 2024

On November 8, the White House urged businesses to move forward with vaccination requirements despite the court-ordered pause
The 5th Circuit of the US Court of Appeals halted the requirement on November 6 and is currently pending review
Republican attorneys general in at least 26 states have challenged Biden’s vaccine and testing requirements in 5 different US appeals courts

According to a note by Bank of America, a “millennial baby boom” could come this year and boost sales for retailers like Target and Walmart
Membership clubs like Costco and grocers like Kroger could benefit as food and baby merchandise sales increase

K Buenavista — Thu, 17 Jun 2021 02:28:17 +0000

The World Health Organization has reported that the amount of Covid-19 cases is spreading faster than vaccinations worldwide
Despite the amount of cases of the vaccine are tending to decline worldwide, the amount of deaths related to Covid-19 have not declined the same way

SpaceX has been approved by the Pentagon to launch a satellite for US national security into space with one of their reusable rockets
The reusable rocket that will be used in this mission is called GPS III SV05 and is planned to launch this Thursday
By using SpaceX’s reusable rockets, the Space force is estimating that they will save about $64 million

Safran and General Electric’s aviation unit are now working together to produce an aircraft engine that may use hybrid technology and/or with hydrogen
GE and Safran could start testing these engines around 2025 and enter service for these engines around the mid 2030s

2 million+ people have gone through a TSA screening last Friday and Saturday
This sudden demand for travel has kept prices for airfares, car rental prices, and hotel prices afloat

By 2035, General Motors aims to produce only Electric vehicles and have 30 new plug in vehicles by 2025 which will cost $27 billion
For Ford, by 2030 the company plans to have roughly 40% of their vehicles electric
Dealerships for these companies like the electric vehicle transition, but there are a few concerns
The dealerships have concerns about costs to be paid, impact on lucrative service department business and staff training

K Buenavista — Thu, 20 May 2021 07:38:42 +0000

Under Armour has announced that they are raising their wages for hourly retail workers in Canada and the United States, which affects over 8,000 jobs
This increase in wage will be effective June 6
The part- and full-time employees who will see a compensation bump represent about 90% of the company’s retail and distribution workforce

A mature wind sector developed in the U.K. has plans to expand in the coming years
Compared to Europe, The U.S. has lacked lately in Renewable energy infrastructure, but major projects are in development
In the final phase of a development recently named as “the world’s largest offshore wind farm” is set to use 14 megawatt versions of General Electric’s Renewable energy “Haliade-X” turbines
Today (Tuesday), GE says that a warranty and service contract has been finalized
The Dogger Bank Wind Farm will be situated off the coast of northeast England in the North Sea and have a total capacity of 3.6 GW

Centers for Disease Control and Prevention Director Dr. Rochelle Walensky said Wednesday that a laboratory origin of Covid-19 is “one possibility”
The remarks from the top Biden administration health official came during growing calls to investigate the origins of the virus

Wednesday, Lumber futures fell for the eighth day in a row and threatened to crash the months-long frenzy that pushed lumber prices to record levels during the pandemic
July Lumber Futures have fallen about 5% to $1,201 per 1,000 board feet
More recently, sawmills have been unable to keep up with demand as expectations have been set high

Service to London Heathrow starts August 11 and to London Gatwick on Sept. 29 from New York’s Kennedy Airport
Jet blue has made plans to launch service to London for more than two years
Earlier this year, the carrier unveiled a new Mint business-class cabin
In regards to the pricing of a round trip ticket on JetBlue, the Mint-class has recently been posted at $1,968.45 and $618 for economy

Facebook plants to turn its live online events product into an option called pay-per view for sports leagues broadcasting games
This feature is said to help business, including sports companies, and make more money in our world of changing content consumption
The company believes that high school sports teams and smaller leagues that use this feature will allow users to make money for virtual attendance and keep profits for tickets
The pay-per-view model isn’t a new concept, as other media networks like Showtime and HBO have used this especially for boxing, wrestling, and MMA