Here is a rundown of Cheddar News' top market stories of the day.
BED BATH & BEYOND SEEKS BUYER
Bed Bath & Beyond is reportedly in talks with a number of potential buyers and lenders to help pull the retailer back from the brink of bankruptcy. The goal is to find a buyer that will keep the Bed Bath & Beyond name, as well as its buybuy Baby chain. Funding-wise, the company is seeking $100 million to stave off bankruptcy, which could still occur in the coming weeks.
APPLE INTRODUCES NEW HOMEPOD
Apple has announced the second generation of the HomePod. The original was discontinued almost two years ago, and Apple is touting a number of improvements in the new version, from sound quality to the ability to send notifications when a smoke or carbon monoxide alarm goes off. The company is calling the product "groundbreaking," but one critic from The Verge noted that the new model was strikingly similar to the last one.
AMAZON FINED FOR WORKER VIOLATIONS
U.S. regulators have fined Amazon more $60,000 for violations of workplace safety law. The Occupational Safety and Health Administration charged the company with overworking its employees at warehouses in Deltona, Florida, Waukegan, Illinois, and New Windsor, New York. "Each of these inspections found work processes that were designed for speed but not safety, and they resulted in serious worker injuries," said Assistant Secretary for Occupational Safety and Health Doug Parker in a news release.
NEW TWITTER PLAN
Twitter Inc has announced a new $11 price for a Twitter Blue subscription per month and a cheaper annual plan as well. The price is the same for Android and iOS subscribers, despite the latter coming with higher app fees.
Markets are emerging from a turbulent Q3. Horizon’s Mike Dickson shares insights on interest rates, small caps, and where investors should look in Q4 and beyond
Bambu Ventures's Kyle Pretsch dives into Lemonaid’s $10M buyout, down from 23andMe’s $400M price tag, and what’s next after Chrome Co.’s dramatic pivot.
Former Cisco Systems CEO John Chambers learned all about technology’s volatile highs and lows as a veteran of the internet’s early boom days during the late 1990s and the ensuing meltdown that followed the mania. And now he is seeing potential signs of the cycle repeating with another transformative technology in artificial intelligence. Chambers is trying take some of the lessons he learned while riding a wave that turned Cisco into the world's most valuable company in 2000 before a crash hammered its stock price and apply them as an investor in AI startups. He recently discussed AI's promise and perils during an interview with The Associated Press.
Grove Collaborative’s CEO shares how the company is reinventing everyday goods with sustainability at the core and working toward a plastic-free future.
Atlanta Mayor Andre Dickens shares plans for affordable housing, community-led growth, and why private and public grocery stores could be key to food equity.
Tesla reported a surprise increase in sales in the third quarter as the electric car maker likely benefited from a rush by consumers to take advantage of a $7,500 credit before it expired on Sept. 30. The company reported Thursday that sales in the three months through September rose 7% compared to the same period a year ago. The gain follows two quarters of steep declines as people turned off by CEO Elon Musk’s foray into right-wing politics avoided buying his company’s cars and even protested at some dealerships. Sales rose to 497,099 vehicles, compared with 462,890 in the same period last year.
