Business headlines: Indiana on short list for tech assembler’s plant
NEW YORK (WISH) — A company that assembles consumer tech products may build a plant in Indiana, and Tesla may launch its own music service: Those are among the headlines Friday from Jane King.
iPhone assembler
Foxconn, the company that assembles many consumer tech producers, include the iPhone, is looking to build a plant in the United States.
The Chinese company could spend as much as $7 billion.
Indiana is reportedly on a short list along with Texas, Wisconsin, Illinois and Ohio.
Tech to protect crops
Monsanto says artificial intelligence could be the secret to protecting crops from disease.
The move could save massive amounts of time and money. Monsanto notes that typical crop protection takes 11 years to reach the market and costs $250 million to develop.
AI could shorten that and make it much cheaper.
Facebook evolving
Facebook has dealt with some very sticky issues lately: fake news, live streamed murders, terrorists organizing.
So CEO Mark Zuckerberg says the company is changing its mission. Instead of a focus from connecting people to building communities, namely by getting them to join more Facebook groups, groups can now be set to secret — meaning users don’t see them in search results.
Tesla looks to music
Tesla may be looking to start its own music service.
Music industry sources tell Recode that it is talking to labels about licensing their music.
Why doesn’t Tesla just use Spotify or Apple Music?
A Tesla spokesman says the company believes it’s important that customers can listen to music they choose.
Health stocks rise
Health care stocks jumped Thursday.
The U.S. Senate bill would continue to offer reimbursements to health insurance companies for subsidies for at least two years. It would also do away with current Obamacare taxes and would phase out Medicaid’s expansion program. The Senate is expected to vote on the bill next week.
Stocks in general reversed direction to close mostly lower Thursday on weak financials and consumer staples.
The Dow lost 13 points.
On Friday, fresh numbers on home sales will be released.
Theft in stores
Stores are spending less on loss prevention — in other words, shoplifting — and maybe that’s not a good idea.
In 2016, the rate of “shrinkage,” or inventory that goes missing for any reason, increased to 1.44 percent of all sales, or a total of almost $48.9 billion. That’s the highest ever.