Wednesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines with Jane King.
ESPN out of Big Ten TV rights negotiations
The Big Ten is close to finalizing a new media rights agreement that will add CBS and NBC to the league’s lineup while ending a long partnership with ESPN, according to sources.
Fox will remain the Big tTen’s main media partner and had representatives attend negotiations with other potential partners during the past few months.
According to The Sports Business Journal, ESPN rejected the Big Ten’s final offer of a seven-year, $380 million agreement, which would have included rights to fewer marquee games than the network’s current agreement.
Most electric vehicles wouldn’t qualify for new tax credit
A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in congress.
But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large.
That’s mainly because of the bill’s requirement that to qualify for the credit, an electric vehicle must contain a battery built in North America with minerals mined or recycled on the continent.
Most money invested into tech stocks since 2008
Investors put the most money into tech stocks since 2008 last week, with clients of Bank of America pouring more than $3 billion into the tech sector.
New inflation report to be released Wednesday
New consumer price numbers will be released in the Consumer Price Index set to be released at 8:30 a.m. Wednesday — but what will it say about inflation?
Inflation has been raging this year, but some economists project it will drop to 8.7% in the CPI in July, compared to 9.1% in June.
Walmart considering building a streaming service
Walmart held talks with media companies about including streaming entertainment in its Walmart+ membership service.
Executives from Paramount, Walt Disney, and Comcast, all of which operate major streaming services, have in recent weeks spoken with Walmart, according to The New York Times.
Walmart+ membership costs $12.95 per month.