Friday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Monica Malpass.

Hurricane Ian halts major ports, railroads in southeast

Major ports and railroads across the southeast have halted operations due to Hurricane Ian.

Jacksonville, the largest container port in Florida and a primary trade gateway for auto shipments, shut down Wednesday and will remain closed until the Coast Guard authorizes operations to resume.

Rail carrier CSX is telling customers to expect delays.

Hurricane Ian insurance losses projected to reach $40B

Ian’s insurance losses are projected to reach $40 billion, according to the Insurance Information Institute.

The institute says early estimates would make Ian second to only Hurricane Katrina back in 2005.

Ian’s arrival in Florida comes as the Sunshine State is dealing with turmoil in its insurance market due to a heavy number of lawsuits and fraudulent roof-replacement schemes.

U.S. economy shrinks for second consecutive quarter

The U.S. economy shrank for the second consecutive quarter in the three-month period ending in June, according to the final estimate from the Bureau of Economic Analysis.

That means the U.S. meets the criteria to be in a recession.

The U.S. economy contracted by six-tenths of a percent in the spring of this year.

Nestle to drop palm oil supplier accused of abuse

Nestle will drop a palm oil supplier that is accused of abuse.

The Indonesian company is accused of land-rights abuses and environmental harm.

Study: Voice assistants negatively impact child development

Voice assistants like Apple’s Siri, amazon’s Alexa, and the Google Home device could negatively impact children’s emotional and cognitive development, according to a new study published in “The Archives of Disease in Childhood.”

Researchers say children’s reliance on artificial intelligence-powered technology could lead to anti-social and harmful behaviors because the kids don’t learn how to communicate with humans as well.