Thursday’s business headlines

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

Logitech stock drops after sub goes missing

Logitech’s stock was hit by reports that its $30 game controller was used to steer the missing submarine. The stock is down 18% this month so far.

Federal Reserve: Expect higher interest rates

Fed Chair Jerome Powell told Congress to expect higher interest rates. In the first day of testimony, Powell said they took a break on interest rate hikes this month to let the series of hikes settle into the economy.

Bank of America: Cost of building homes rising at unprecedented rate

Bank of America says the cost of building a new home is rising at an unprecedented rate.

The price of lumber alone is higher as demand for new homes soars.

USDA approves sale of lab-grown meat

“Cultivated” meat producers, Upside Foods and Good Meat, received approval from the Department of Agriculture to begin commercially selling their chicken products.

Lab-grown meat is produced in large steel tanks using animal cell manipulation. Producers say the practice of creating consumable meat products through cell cultivation technology eliminates harm to animals and combats environmental impact.

Apple trying to trademark depictions of apples

Apple has been trying to trademark the apple in Switzerland since 2017.
Because the case is ongoing and requires consent from Apple, details could not be disclosed, but it involves uses for audiovisual footage.

Apple farmers are worried and confused by the request.