Number 2023, cash dollar banknotes and stock market indicators (money, economy, business, finance, inflation, crisis)
The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said Thursday, a slight upgrade from its initial estimate.
The government had previously estimated that the economy grew at a 1.1% annual rate last quarter.
The Commerce Department's revised measure of growth in the nation's gross domestic product — the economy’s total output of goods and services — marked a deceleration from the second half of 2022.
Despite the first-quarter slowdown, consumer spending, which accounts for around 70% of America's economic output, rose at a healthy pace.
With mortgage rates having doubled over the past year, the real estate market has already taken a beating: Investment in housing fell from January through March. In April, sales of existing homes were 23% below their level a year earlier.
Bentley aims to become end-to-end carbon neutral by 2030. The luxury car brand has outlined steps to achieve this goal, including switching its entire model range to plug-in hybrid or battery electric vehicles by 2026 and become fully electric by 2030. Christophe Georges, president & CEO of Bentley Americas, joined Cheddar to discuss this new pledge and what consumers can expect from future models.
PepsiCo has announced a new goal to advance food security for 50 million people by 2030. To help achieve this goal, the company is partnering with local communities around the world to expand access to nutritious foods, increase productivity and incomes of small-scale farmers. Jon Banner, president of the PepsiCo Foundation, joined Cheddar to discuss this new pledge and his argument for why the world has to rethink the way it produces and distributes food.
ORIGYN Foundation, an NFT authentication start-up based in Switzerland, has secured $20 million in funding from investors like Paris Hilton, Bill Ackman, and Polychain Capital, among others. The non-profit, now valued at $300 million, uses AI technology to verify non-fungible tokens across art, collectibles, digital media and luxury goods. Daniel Haudenschild, CEO of ORIGYN Entreprise, discusses how the money will help put power back into the hands of artists, creators, and collectors.
With millions of Americans set to host Thanksgiving this year, shoppers can expect to pay more at grocery stores, with the price of a thanksgiving meal up 14% from last year. According to the USDA, the average price of an 8- to 16-pound frozen turkey is up 21% from a year ago. Jay Jandrain, CEO, Butterball, joined Cheddar’s Opening Bell to discuss how his company is being affected by supply chain challenges and rising prices.
After being plagued by supply chain delays for the better part of a year and a half, officials at California ports have reversed course on fines for cargo containers left at docks for extended periods, citing an easing of the bottlenecks at Los Angeles and Long Beach.
Jill and Carlo are a bit delayed today on account of Carlo's internet not working. Better late than never, they discuss what we know about the suspect in the Christmas parade crash, closing arguments in the Arbery killing trial, and more.
