Thursday’s business headlines
INDIANAPOLIS (WISH) — Here is a look at Thursday’s business headlines with Jane King.
RESTAURANT PRICES UP 10% FROM LAST YEAR
From this time last year food prices have increased, and is likely to remain high going into the holiday season.
The U.S. Bureau of Labor Statistics said eating out is costing 10% more than it did last year. Cereal and baking products increased by 9.6% and pies being among the more popular items for the holidays.
AVERAGE MORTGAGE RATE HITS 8% FOR FIRST TIME SINCE 2000
Average rate on the popular 30-year fixed mortgage hit 8% Wednesday morning. Mortgage News Daily says it’s the highest rate since the summer of 2000.
The higher rates have caused mortgage demand to plummet. The higher cost of living has increased foreclosure rate by 34% compared to last year.
NETFLIX RAISES SUBSCRIPTION PRICES
Netflix subscription prices have been raised for some of its streaming plans in the U.S.
The company acquired nearly 9 million new customers around the globe, surpassing the 6 million consensus forecast of Wall Street analysts.
Netflix raised the price of the premium ad-free plan by $3 to $22.99 monthly. The one-stream basic plan rose by $2 per month.
AMAZON TESTS HUMANOID ROBOT IN WAREHOUSES
Amazon is testing a humanoid robot in its warehouses.
The robot, called Digit, is Bipedal and can squat, bend, and grasp items using clasps that imitate hands. They will initially be used to help employees consolidate bins emptied of items.
AMERICANS TAKING MORE SICK DAYS SINCE PANDEMIC
Number of sick days taken annually by Americans has increased since the pandemic, according to employee payroll data.
COVID-19 and a rise in illness such as RSV, which can require days away from work, are one reason.
The Wall Street Journal spoke to managers and human resources executives also attribute the jump to a bigger shift in the way many Americans relate to their jobs.