Business

Wednesday’s business headlines

NEW YORK, NY - AUGUST 19: People exit Target store in Midtown Manhattan on August 19, 2020 in New York. (Photo by Eduardo MunozAlvarez/VIEWpress via Getty Images)

INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines.

Volvo

Volvo is recalling nearly 260,000 cars in the U.S. because the front driver’s airbag can explode and send shrapnel into the cabin.

The recall is in addition to one from November of 2020, which was done after an unidentified U.S. driver was killed.

The latest recall coders S80 sedans from 2001 to 2006 and S60s from 2001 through 2009.

Honeywell

Honeywell unveiled an all-new aircraft cockpit system, called Honeywell Anthem, which is the first in the industry built with an always-on cloud connectivity that provides unprecedented operational efficiency and a clear path to autonomous flight.

It creates ways for increasingly complex aircraft to function with more autonomy, relieving stress on pilots and promoting safety and efficency.

Target

Target said it will pay an extra $2 an hour to store and service center employees who work during peak days during the holiday season, such as on Saturdays and Sundays in the final weeks before Christmas.

The big-box retailer previously said it would scale back holiday hiring and give more hours to its staff.

GenX

Generation X, the group squeezed between the baby boomers and the millennials, has experienced a wealth boom since the pandemic.

During the pandemic, household wealth distribution has shifted from older generations to those who are reaching their peak earning years.

The Federal Reserve says Gen Xers, who age 41 to 56, saw robust gains in equities and pension settlements, while their share of the nation’s consumer debt declined.

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