Tuesday’s business headlines

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

Congress to hold first hearing on Silicon Valley Bank Collapse

The Senate Banking Committee will hold the first of several hearings on the collapse of Silicon Valley Bank today.

A top Federal Reserve official reportedly will tell the committee the bank failed due to mismanagement and a sudden panic among depositors.

Disney begins cutting 7,000 jobs

Disney will begin informing employees this week that they’re being laid off.

It will be the first of three rounds of cuts that will amount to 7,000 job losses.

Disney is cutting costs after its valuation plummeted last year.

Carnival Cruise Lines expects to lose money this year

Carnival Cruise Lines says it expects to lose money again this year. It’s blaming higher oil, labor, food and other costs.

The downbeat guidance from Carnival comes after rivals Royal Caribbean and Norwegian both forecast their first profitable years since the coronavirus pandemic shut down the cruise industry.

Upgraded ChatGPT can help book flights

The buzzy AI chatbot ChatGPT just received a massive upgrade and now browse the web, help book flights, and more.

The first wave of plugins, which are now available to select ChatGPT users and developers, allow ChatGPT to tap new sources of live data from the web.

Amazon aims to deliver alcohol

A leaked Amazon memo shows that the company aims to fully legalize alcohol delivery.

According to The Business Journals, Amazon’s goals include “modernizing” the three-tier system that the U.S. government has since the end of Prohibition to regulate alcohol distribution.