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Business

“Apple sales miss expectations, Tim Cook says supply issues cost company $6 billion”

“Apple revenue fell short of Wall Street expectations in its fiscal fourth quarter on Thursday, which Apple CEO Tim Cook attributed to larger-than-expected supply constraints on iPhones, iPads, and Macs.   Apple fell under 3% in extended trading. “We had a very strong performance… Continue Reading…

Economy

“Solar prices jumped in the second quarter, reversing recent trends, on material costs and supply chain issues”

“… Supply chain bottlenecks and rising raw materials costs are hitting the solar industry. Prices rose quarter over quarter and year over year during the second quarter across residential, commercial and utility-scale solar for the first time since Wood Mackenzie… Continue Reading…

Economy

“Chip shortage expected to cost auto industry $110 billion in revenue in 2021”

“The ongoing semiconductor chip shortage is now expected to cost the global automotive industry $110 billion in revenue in 2021, according to consulting firm AlixPartners. The forecast is up by 81.5% from an initial forecast of $60.6 billion, which the New York-based… Continue Reading…

Economy

“US grocery costs jump the most in 46 years, led by rising prices for meat and eggs”

“Prices Americans paid for eggs, meat, cereal and milk shot higher in April as people flocked to grocery stores to stock up on food… The Labor Department reported Tuesday that prices U.S. consumers paid for groceries jumped 2.6% in April,… Continue Reading…

Economy

“Internet shutdowns cost the global economy $8 billion last year, report says”

“More than 18,000 hours of internet shutdowns around the world caused by deliberate government action costmore than $8 billion in 2019, a new report estimates… The report, which examines partial and total shutdowns across 122 countries, was published by the internet… Continue Reading…

Economy

Sales Up: “No Line to Board Private Jets, but There Is a Line to Buy Them”

“Mr. Papariella’s clients often look to buy used jets, some decades old, that still perform at a high level but cost less up front, he said. A Gulfstream G4 from 2002 might cost $3 million — far better than $60… Continue Reading…

Business, Stocks

“Delta Stock Slumps After Airline Reports Higher Costs”

“Delta Air Lines stock is tumbling on Wednesday after the airline raised cost estimates in its third-quarter update… …On Wednesday, Delta provided an update on its third quarter. The company said it now expects earnings per share between $2.20 and $2.30,… Continue Reading…

Business

“Average cost of employer-provided family health coverage clears $20,000-a-year mark”

“The average total cost of employer-provided health coverage passed $20,000 for a family plan this year, according to a new survey… Annual premiums rose 5% to hit $20,576 for an employer-provided family plan in 2019, according to the yearly poll… Continue Reading…

Personal Finance, Predictions, Opinions, & Comments

“Social Security Costs to Exceed Income in 2020, Trustees Say”

“WASHINGTON—Social Security’s costs are expected to exceed its income in 2020 for the first time since 1982, forcing the program to dip into its nearly $3 trillion trust fund to cover benefits…” https://www.wsj.com/articles/social-security-trust-fund-to-be-depleted-in-2035-trustees-say-11555946113 If you’re young don’t count on social… Continue Reading…