Business

Monday’s business headlines

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

Indiana electric vehicle plant put on hold

General Motors and LG Energy Solutions have indefinitely shelved plans to build a fourth battery cell plant in the U.S., which was set to open in New Carlisle.

CNBC says GM is expected to continue with its plans to build the plant but is searching for another partner.

“The Wall Street Journal” first reported Friday that talks had stalled between GM and LG, partly because LG Energy executives in Korea were hesitant to commit to the project given the rapid pace of its investments with other automakers.

Farm group calls for investigation into price gouging of eggs

A farm group is calling on the Federal Trade Commission to examine the rise in egg prices for signs of price gouging by top egg producers.

Farm Action says regulators should examine record-high profits at the country’s top egg company.

With egg prices soaring in the U.S. over the last year, more Americans are crossing into Mexico to buy the item, then trying to sneak cartons of raw eggs back into the U.S. along some parts of the southern border, including in California and Texas.

Southwest pilots to get bonus pay after meltdown

Southwest pilots and others will get bonus pay for working during the airline’s December meltdown.
Southwest has about 9,400 pilots.

The estimated cost of their bonus pay was disclosed in a message from the Southwest Airlines Pilots Association to its members. The “gratitude pay” will be equal to 50% of the pilots’ regular pay, excluding holiday pay, sick pay, or vacation time.

Netflix to crack down on account sharing by end of march

Netflix executives say the rollout of the company’s plan to convert “borrowers” — those who are currently using Netflix accounts that are owned by separate households – to paid subscribers will kick off by the end of the first quarter, sometime between now and the end of March.

The company is confident it’s solidified the set of features they want to implement that will allow users to kick borrowers off their accounts or pay for extra additional users.

More workers ditching email for chat apps

The CEO of Wipro, an IT firm that employs about 260,000 people around the world, says that 10% of workers don’t check their email even once a month.

A 2022 survey from Reworked Research found slightly more than half of the 1,000 IT decision-makers surveyed preferred utilizing “real-time business chat apps” like Slack and Microsoft Teams over email.