401K balances jumped in the fourth quarter of 2022, but were down 23 percent for the entire year, due to the ongoing bear market. New data from Fidelity Investments also found that the average individual retirement account balance was down 20 percent to $104,000 in the fourth quarter. Amid this economic uncertainty, the savings rate remained steady at 13.7 percent, down slightly from the 13.8 percent in the third quarter and 13.9 percent in the second quarter.
GOODBYE TO THE SUPER HORNET
Boeing said it will end production of the F/A-18 Super Hornet in 2025. The shutdown will affect a production line near St. Louis, which could power back on if the company wins a contract in India. The Super Hornet is considered the most successful aircraft in the history of the U.S. Navy. The company will redeploy staff to pursue new opportunities, including the T-7 Red Hawk.
DOMINO'S SALES SLUMP
Domino's Pizza missed sales estimates in the fourth quarter, as high delivery fees put a dent in online orders. Same-store delivery sales dropped 6.6 percent after the company raised delivery fees to make up for higher labor and commodity costs. With deliveries making up 60 percent of sales, the drop hit the company hard. Its share price fell 11 percent on Thursday.
NETFLIX LOWERS PRICES
Netflix is lowering its subscription price across the globe. The streaming giant has lowered prices in more than 100 territories, including large parts of the Middle East, South America, and Eastern Europe. The discount varies by area, but some saw 20 to 60 percent decreases for the basic tier membership, according to data from Ampere Analysis shared with TechCrunch.
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Scott Trench, host of the BiggerPockets Money Podcast, explores how recent rate cuts, high borrowing costs, and mortgage rates are reshaping U.S. real estate.
A look into how disruption, AI, and global economic trends are transforming the modern supply chain with Jeremy Jansen, Head of Supply Chain at Wells Fargo.
Delta CSO Amelia DeLuca reveals at the Fast Co. Innovation Festival how tech, sustainable aviation fuel, and smart operations are revolutionizing air travel.
Chipmaker Nvidia will invest $100 billion in OpenAI as part of a partnership that will add at least 10 gigawatts of Nvidia AI data centers to ramp up the computing power for the owner of the artificial intelligence chatbot ChatGPT.
