Thursday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Thursday’s business headlines with Jane King.
More than half of Gen X has little to nothing saved for retirement
Just over half of Generation X— those born between 1965 and 1980 — have little to nothing socked away for retirement, according to prudential financial. 35% of the 65 million U.S. Gen Xers have less than $10,000 saved, and 18% have no savings. The oldest members of Gen X are about a decade from retirement age.
Used vehicle prices fall to lowest level of 2023
Used vehicle prices reached their lowest level of the year in May. Sales fell amid high-interest rates and inflated retail prices. Cox Automotive says used retail sales are estimated to have been down 11% year over year in May
Google tells New York employees to work from home
Google tells employees in New York and along the east coast to work from home as wildfire smoke fills the air. At one point, New York City had the worst air quality in the world from the Canadian wildfires
Amazon to launch advertising-supported tier of prime
Amazon is planning to launch an advertising-supported tier of its Prime video streaming service.
The Wall Street Journal reports advertisers say they are eager to have Amazon offer an ad tier for prime video service, which would follow similar moves by other streaming platforms including Netflix and Disney. Advertising has been an area of continued growth for Amazon.
Stocks took a breather Wednesday. Markets have had a quiet week as we’ve been in a news vacuum, waiting for the federal reserve meeting next week.