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.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."
J.W. Roth, CEO of Venu Holding Corporation, discusses the company's IPO and plans to redefine live music entertainment with their fan founded, fan-owned model.
Variety's Clayton Davis discusses why more than just the 1% are struggling after the LA fires. Plus, how awards shows will pivot to help victims. Watch!
Emily Hosie, CEO of Rebelstork, explains the concept of Returns Recommerce, plus how her company raised $18M to address the industry-wide issue of returns.
