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Thursday’s business headlines

Thursday’s business headlines

INDIANAPOLIS (WISH) — Here is a look at Thursday’s business headlines with Jane King.

SURVEY: AMERICANS FEEL BEHIND IN EMERGENCY SAVINGS

Majority of households say they feel behind on savings for emergencies. Only 19% of families reporting that they increased their emergency savings balances since beginning of the year.

Bankrate survey found higher interest rates and inflation took a toll on American’s savings accounts this year.

AMAZON TO REPORT EARNINGS TODAY

Amazon now set to report its earnings for the third quarter after the closing bell today. Investors are looking closely at the results of Amazon’s Prime Big Deal day’s events.

Amazon has enjoyed a strong performance this year. Its stock is up nearly 50% from levels in January, partly fueled by Wall Street’s excitement for Artificial Intelligence.

FORD, UAW NEGOTIATORS REACH LABOR DEAL

United Auto Workers Union and Ford have agreed in principle to the terms of a tentative agreement that would end the six-week strike.

CNBC reports the talks this week involved a proposal for wage increases of at least 25% over the term of the deal as well as other improved benefits previously outlined by both Union and the company.

Any deal would need to be voted on UAW membership and could lead to agreements with GM and Stellantis.

BEEF PRICES AT RECORD HIGHS

Retail beef prices in the U.S. are at record highs, pushing up prices of beef-based products.

This is largely due to a shrinking cattle supply, as well as higher input costs, market watchers told CNBC. The watches don’t expect it to end anytime soon.

Cattle herds in the U.S. have beer reduced to their “smallest number in decades” as a result of drought in key cattle ranching states like Texas and Kansas.

TAYLOR SWIFT CONCERTS MAY IMPACT GDP REPORT

The Taylor Swift effect could have an impact on gross domestic product.

Forbes says Taylor Swift’s Eras tour was No. 1, pulling in nearly $800 million.