Thursday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Thursday’s business headlines with Jane King.
Harder to tell who will accept college offers
With students applying to more schools, admissions officers struggle to predict who will actually accept their offers
Their mathematical models to predict which admitted students might accept their offers and enroll as freshmen are proving useless because the coronavirus pandemic threw most traditional elements of the admissions process-campus visits, standardized tests, essays about busy extracurricular schedules-into disarray.
Applications submitted via the Common App, which is used by more than 900 schools, rose by 11% nationwide through March 1. But the number of applicants increased by just 2.4%, meaning nearly the same number of students are casting a wider net.
American Airlines avoids furloughs
The new stimulus package saves 13,000 jobs at American Airlines.
The company had been planning to furlough the workers on April 1.
Airlines got a $15 billion boost and an extension of the payroll support program.
Computer chip shortage worsens
The global semiconductor shortage is set to worsen if the supply chain dries up at its source, and that appears to be happening quite literally in Taiwan.
Nikkei Asia reports the chip foundry for the world is suffering from the worst drought in decades on the island.
Chip production requires a massive amount of water.
The computer chip shortage is leading to a slowdown of tech products and even car production.
Facebook seeks to dismiss antitrust suits
Facebook seeks to dismiss antitrust suits, saying it hasn’t harmed consumers.
The Wall Street Journal says the action marks its first legal salvo since the FTC and 46 states sued the company in December.
Small business optimism improves
A continuing problem among small business owners is being unable to fill open positions.
About 40 percent of small businesses say they are having trouble finding enough qualified workers.
Overall, business owners expecting better business conditions over the next six months remains low at 19%.