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Monday’s business headlines

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

U.S. bails out SVB customers as bank fails

The collapse of Silicon Valley Bank has hit some small businesses as well as big ones.

Etsy creators could see their payments be delayed, while some businesses say they may not be able to make payroll.

The federal government announced over the weekend that it would use FIDC funds to make sure all SVB depositors have access to their money Monday.

Mortgage payments hit record high

The typical homebuyer’s monthly bill rose to a record $2,563 dollars this week thanks to higher borrowing costs and higher home prices.

Redfin says that’s up 29% from the same week in 2022.

The higher borrowing costs are cutting into demand from potential buyers while also keeping some sellers on the sidelines

Frontier: Workers get bonuses when they charge for oversized bags

Frontier Airlines is under fire after it was revealed that employees receive a $10 bonus every time they charge customers a fee for oversized luggage.

The incentive came to light after Salt Lake City journalist Dyana Billa went viral for filming herself and another passenger being told their carry-on bags didn’t meet the size requirements for a flight from Ronald Reagan Washington National Airport to Denver.

A spokesperson for the discount airline told the independent the bonus is “simply an incentive for our airport customer service agents to help ensure compliance with our policies and that all customers are treated equally.”

Disney CEO: Theme park price hikes are too aggressive

Disney CEO Bob Iger recently expressed sympathy with consumers who have complained about the company’s theme park prices.

He told the “Los Angeles Times” that recent price hikes may have been “too aggressive.”

Since Iger returned to Disney, the company has scaled back some of the price enhancements at its theme parks.

Oscars’ box office bump is shrinking

Oscar nominations and wins don’t have the same financial impact as they once did.

Since the Oscar nominations were announced in late January, the 10 best picture nominees added $82 million in domestic box office sales, $71 million of which came from “Avatar: The Way of Water.”

However, best picture nominations have boosted demand for those films on streaming services.