Tuesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King.
Federal Reserve likely to hike interest rates again
Investors are waiting for the Federal Reserve Meeting, which begins Tuesday.
Investors expect another quarter-percent interest rate hike and then, maybe, a pause.
Fed officials don’t expect interest rate cuts until 2024.
Bud light sales falling after marketing controversy
Sales of Bud Light have been plunging since the company enlisted the help of transgender influencer Dylan Mulvaney in a marketing campaign a month ago.
In the week that ended April 22, the brand’s in-store sales plummeted more than 26%, according to figures reported by bump williams consulting.
The decline is only accelerating. The week before, sales dropped by 21%. The week before that, it was 11%.
Analysts say if Bud Light sales continue to drop, especially into the summer beer drinking season, it could lose its top sales spot in the U.S. to Modelo Especial, a pilsner-style lager that’s owned in the U.S. by New York-based Constellation Brands.
Nearly $1 billion put into Apple savings accounts in 4 days
Apple’s new savings account opened in mid-April with a 4.15% yield, and it’s already drawn 240,000 new accounts.
The savings account’s annual interest rate is way above most others. The national average rate is just .24%, according to Bankrate
WalletHub: Indiana ranked 21st best state for working moms
Indiana ranks in the middle of states WalletHub’s most recent list of Best States for Working Moms.
Wallethub’s survey says Indiana got high marks for its child care but lower on professional opportunities and work-life balance.
The top three states were Massachusetts, Rhode Island, and Connecticut. Alabama, South Carolina, and Louisiana rounded out the list.
Kit Kat cereal hitting U.S. store shelves
Like the candy bar, the cereal has a creamy coating and distinct crunch, General Mills says.
The box also shares the look of the candy’s distinct red wrapper.
When it arrives in U.S. grocery stores this month, a standard-size box will cost $5.69.