Thursday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Thursday’s business headlines with Jane King.
Inflation just over 6% in Indiana
Inflation is beginning to show signs of cooling, but it still remains at high levels across the country, according to analysts at Moody’s.
January’s Consumer Price Index showed inflation in Indiana at 6.08%, which was slightly lower than the rates reported in Illinois, Ohio, and Michigan.
Airfare prices are up the most, followed by household energy, pets and pet products, and food at home.
Natural gas prices fall to lowest level since pandemic
Natural gas prices have fallen to levels not seen since the pandemic-era lockdowns more than two years ago that strangled the economic activity underpinning energy demand.
The 80% plunge in benchmark U.S. gas futures since late August will cheer homeowners and manufacturers recently hammered by sky-high utility bills and input costs.
Target investing $100 million in e-commerce hubs
Target is making a big bet on e-commerce and plans to invest $100 million in hubs to speed up delivery.
The big box retailer is pressing ahead with its e-commerce strategy even as it anticipates slower sales.
Meta considering thousands of job cuts
After an earlier round of job cuts, Meta is considering slashing thousands of additional positions.
The Washington Post reports the Facebook parent company plans to push some leaders into lower-level roles, flattening layers of management at the social media giant.
The job eliminations arrive after Zuckerberg sought to reassure workers that he didn’t “anticipate more layoffs” after the company slashed 11,000 jobs — roughly 13% of its workforce — in November.
Spotify announces new “Dj” feature
Spotify announced a new AI feature called “DJ” that it promises will better personalize the music listening experience for its users.=
Similar to a radio DJ, Spotify’s DJ feature will deliver a curated selection of music alongside AI-powered spoken commentary about the tracks and artists you like while using what Spotify says is a “stunningly realistic voice.”