Wednedsay’s business headlines

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

Average price of pizza rises to $30

With prices hovering in the $30 range, the humble pizza may no longer be the inexpensive, easy option for families and college students on a budget.

The rising cost of cheese is getting most of the blame. Cheese prices alone are up 30% from last year.

Rent breaks another record

U.S. rents have surged by another record, led by a 41% jump in Miami.

CoreLogic says supply shortages and a strong job market are driving prices up.

Elon Musk’s Twitter bid gets board approval

Twitter’s board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to Elon Musk.

Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees.

He also says that he is waiting for a resolution to his dispute with Twitter over the total percentage of spam and fake accounts on the platform.

Facebook adopts new advertising practices

Facebook parent Meta agreed to adopt new online advertising practices to settle an investigation by federal officials, who said its ads discriminated against users by race, gender, and other factors.

The Justice Department federal housing officials said they would settle housing discrimination charges against Meta, with no admission of liability by the company, in exchange for Meta’s agreement to make changes to its advertising distribution systems.

Cost of Independence Day cookouts up 17%

Americans gearing up for the traditional Fourth of July celebration can expect to fork over a whopping $76.94 for the average cookout — burgers, hot dogs, chicken, pork, and all the fixings.

That’s up more than 17% from last year’s figure of $65.46, according to the Consumer Price Index compiled by the U.S. Bureau of Labor Statistics.