Friday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.
Freddie Mac: interest rates increased from 6.27 to 6.42%
Mortgage rates increased this week, breaking their six-week streak of declines just ahead of the new year.
The average rate on the 30-year fixed mortgage rose to 6.42% from 6.27% the week prior, according to analysts at Freddie Mac.
Layoffs coming at Goldman Sachs
Goldman Sachs plans to cut as many as 4,000 jobs in the new year, a person familiar tells Fox Business.
CEO David Solomon warned in his end-of-the-year message to employees that the world’s second-largest investment bank will be trimming its workforce in the first few weeks of the year.
Southwest CEO: Company will take financial hit
The CEO of Southwest Airlines says the company will take a big financial hit due to the chaos caused by eight days of delayed and canceled flights.
Southwest has offered to pay for impacted customers’ travel and hotels and it will spend millions upgrading its software system, but executives declined to provide an estimate of how much the disruptions will cost the airline in total. A similar incident in October 2021 cost the airline about $75 million.
Report: Coal companies tripled profits in 2022
The world’s largest coal mining companies tripled their profits in 2022, defying expectations for an industry that was thought to be in terminal decline, a new report says.
Many countries that once pledged to quit coal have turned back to it as a reliable source of heat and power.
Lawsuit claims Youtube tracks children’s data
An appeals court has revived a lawsuit that accuses Google, YouTube, Dreamworks, and a handful of toymakers of tracking the activity of children under 13 on YouTube.
This is not the first time YouTube has faced legal problems for how it handles children’s data.
It was fined $170 million by the FTC and the New York State attorney general in 2019.