Thursday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Thursday’s business headlines with Jane King.
Producer price index due out Thursday
It’s day two for a read on inflation. Thursday is the producer price index, that’s a measure of what businesses pay for raw materials-things like fuel, labor, and medical care. Often rising costs for businesses get passed onto consumers in a few months. Wednesday, an inflation measure of what consumers pay was lower than expected.
Southwest Airlines union warns of “long summer”
Southwest Airlines’ union leaders warn of a ‘long summer’. A Southwest Airlines Co. executive expressed optimism about the carrier’s chances of reaching labor deals with its pilots and flight attendants by the end of the year – but union leaders are less optimistic as the summer travel season approaches.
Disney+, Hulu to combine into single platform
Disney is losing billions on its streaming service so it’s undergoing a rethink. CEO Bob Iger says it will be combining Disney+ and Hulu into one platform including programming from both by the end of the year. It will also raise the price of its ad-free plan, which currently costs $10.99 per month.
Topgolf stock sinks
Topgolf stock sinks most since 2020 on concern the golf boom is fading. Callaway owner cuts profit view.
Golf was popular during the pandemic as people were looking for exercise outside that had natural social distancing.
Stocks closed mixed Wednesday. Inflation for April was less than expected.