Business

Friday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Friday’s business headlines.

Shop and eat

Americans are eager to shop, eat out and travel after a year of COVID-19 restrictions.

With an estimated $1.7 trillion in excess savings, Americans are ready to make up for lost time.

According to new research from global payments company, Blackhawk Network, traveling, getting together with friends and family and eating out top the list of activities consumers are most excited to celebrate together.

Home sales

Existing home sales slumped to a seven-month low in March as record prices and tight inventories limited purchases.

The median price for existing homes surged 17% from a year ago to $329,100. Prices have risen for 109 consecutive months.

Tech giants

Lawmakers and mobile app companies took aim at tech giants’ power over their smartphone ecosystem.

The hearing focused on competition concerns about the companies’ power over the smartphone ecosystems.

App developers say Apple buses its dominant position as a gatekeeper to insulate itself from competition and disadvantaged services.

Drought

Almost the entire Southwest is mired in various stages of drought as of April 21, resulting in falling water levels at the nation’s two largest reservoirs, Lake Mead and Lake Powell.

Water levels may drop below a point this summer that triggers water cuts in Arizona and Nevada. This would largely mean cuts to farmers and argiculture.

Meanwhile, South Dakota is also in a lingering drought.

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