Tuesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Joya Dass.
Gas prices rise for second consecutive week
Gasoline prices rose for the second consecutive week as crude oil prices faced upward pressure from supply cuts and increased demand. Prices for crude oil, the key component of gasoline, have increased for three consecutive weeks, although they fell some on April 10. AAA says the current average in central Indiana is $3.51 a gallon.
America faces sriracha shortage
America is facing new sriracha shortages. Huy Fong Foods, the southern California-based company that produces one of the most popular brands of sriracha chili sauce, blames supply chain issues, poor weather conditions, and the war in Ukraine. This has resulted in some retailers imposing purchasing limits on the product.
Moderna hopes to offer cancer, heart disease vaccines
Moderna hopes to offer a new set of life-saving vaccines targeting cancer, heart disease, and previously untreatable conditions by 2030. A company spokesperson told CNBC that advancements in messenger RNA technology since the outset of the covid pandemic have ushered in a golden age for new vaccines.
The remarks come ahead of Moderna’s vaccine day Tuesday. At the annual event, the company typically presents updates on vaccine development.
Tupperware warns it could go out of business
The stock fell nearly 50%. Tupperware said it won’t have enough cash to fund its operations if it doesn’t secure additional money. the company said it is exploring potential layoffs, and it’s reviewing its real estate portfolio for potential money-saving efforts. It has been trying to shed its staid image and attract younger customers with newer and trendier products. it also struck a deal with Target last year to sell its products.