Business

Jane King: Tuesday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King.

Lilly expansion

Eli Lilly is reportedly on the hunt for a large expansion in south San Francisco. Biz Journals reports the company is looking for 300,000 square feet of additional space.

Multiple sources with knowledge of the company’s real estate strategy confirmed the large requirement, though they could not provide additional details.

The company already has two south San Francisco locations, and is looking to expand.

Flight Attendants

Flight attendants at United and Southwest Airlines on Tuesday are expected to demonstrate at 21 airports around the United States. They are working to draw attention to work conditions, wages, and low staffing.

Food service workers are also expected to hold various work stoppages Tuesday.

Work from home

The shift to working from home drove more than half of the increase in house and rent prices during the pandemic, and will likely drive up costs and inflation going forward as the shift becomes permanent, according to research from the Federal Reserve Bank of San Francisco.

Interest rates

As interest rates rise, some savings accounts are already paying 3% interest. Those are levels for savings that haven’t been seen since 2009. More rate increases could be on the way in 2023, depending on the path inflation takes. Financial experts say now is the time to evaluate your savings accounts to make sure you are getting the best return.

Stock update

The Dow closed in bear market territory. The S and P 500 hit a new low for the year and the world currency markets were volatile.