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Tuesday’s business headlines

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

McDonald’s to shorten hours by 10%

McDonald’s U.S. restaurants are open 10% fewer hours than pre-pandemic, the boss of the chain has said.

The CEO points to staff shortages.

McDonald’s says the shortage could push sales down three to four percent.

Price of romaine lettuce soars 61%

If you’re lucky enough to get your hands on a head of romaine lettuce these days, it will cost you a lot of cabbage.

The price for a pound of romaine has lately soared a whopping 61% from a year earlier- the highest price since 2006, according to Bloomberg.

In the case of lettuce and other select crops, farmers are purposely growing less because they don’t want to get stuck with excess given the volatility of the market since the onset of the pandemic.

Walmart venturing into Metaverse

Walmart appears to be venturing into the Metaverse with plans to create its own cryptocurrency and collection of NFTs.

The retailer filed several new trademarks late last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products. In a separate filing, the company said it would offer users a virtual currency, as well as NFTs.

Meanwhile, Ralph Lauren’s CEO says metaverse is way to tap into younger generation of shoppers.

Netflix’s basic plan rises by $1

Netflix’s basic plan in the U.S. rose by $1 to $9.99 per month.

The standard U.S. Subscription now costs $15.49 per month, up from $13.99. Netflix’s premium plan in the U.S was increased to $19.99 per month from $17.99.