Week in Business: New Orleans Goes Dark

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Hurricane Ida made landfall on Sunday, leaving more than a million residential and commercial customers without power in Louisiana. And it raises questions about cuts How well have energy companies prepared for extreme weather conditions?that scientists believe is becoming more common due to climate change. Some energy experts believe that Entergy, the state’s largest utility company, could do more to protect your equipment. Last year, the company began operating a natural gas plant to power New Orleans during times of high demand or emergencies. However, the tower was unable to carry the energy to customers due to damage to the mast and wire mesh. It asked state regulators to raise customers’ rates to cover Ida’s repair costs, three hurricanes in 2020 and one winter storm this year.

General Motors announced idle more factories this month due to the ongoing global shortage of computer chips causing automakers to limit production and tighten vehicle supplies. This is one of the many supply shortages associated with the pandemic. staying longer than expected. hurricane Ida can make them worse. Walmart addressed another type of famine in a statement Thursday. Increase in salaries of 565,000 workers will launch in late September to attract and retain workers in a challenging work environment.

Apple announced on Wednesday that it will. Allow apps like Netflix and Spotify (not all apps) to redirect their users to payment methods outside of the App Store. This second privilege About Apple’s App Store policies in recent weeks. But analysts watching Apple say the changes Won’t significantly impact Apple’s $20 billion App Store business because most of the revenue comes from video games. Rather, it amounts to a kind of strategic retreat as Apple continues to fight changes that will make more sense for its profitability.

When federally funded emergency unemployment programs ended On Monday, an estimated 7.5 million people will lose unemployment benefits and millions more will see their checks cut by $300 a week. There is little evidence that the loss in benefits will improve labor shortages: In states that end emergency unemployment programs early, job growth it was similar to grow in non-existent countries. And with the re-emergence of Covid-19 cases, it may take months for those who have lost benefits to find work. On Friday, the government reported employers significantly slowed their hiring in August, an indication that the Delta variant of the coronavirus is putting a damper on the economy. Cutting benefits at the same time could have long-term consequences for both families and the economy.

Thursday is the last day for the Food and Drug Administration to make a decision. Juul Labs may go on sale vaping device and flavored nicotine pods. The question is whether the public health benefits of non-smoking tobacco products as a safer alternative to cigarettes outweigh the risks for younger people, which some health organizations say have become nicotine addicts through vaping. If the FDA doesn’t approve, Juul, whose sales fell by $500 million last year, will have to stop selling the products or face enforcement actions. With the approval, the company will still face lawsuits brought by more than a dozen states As well as thousands of cases consolidated in a federal court in California.

Businesses in El Salvador will need to accept payments in Bitcoin starting Tuesday. country of 6.5 million first person to tender a cryptocurrency legal tendernext to the US dollar. Chairman Nayib Bukele says that adopting Bitcoin will make remittances cheaper as well as attracting foreign investment. an article from economists Johns Hopkins University challenged. But many doubt that the plan will succeed. In July, questionnaire He said more than three-quarters of Salvadorans were skeptical of the idea, and nearly half knew “nothing” about Bitcoin. NS International Monetary Fund and world Bank They also expressed their doubts.

Chinese government bans children and teenagers from online games during school days. Social Security predicted to go bankrupt In 2033, one year earlier than previously predicted. Starbucks facing a rare union problem. Keynote speeches will begin Wednesday at the hearing of Theranos founder Elizabeth Holmes.

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