Business

Wednesday’s business headlines

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

Costco to require membership to purchase gas

Some Costco stores have shared the message that store membership will be required for the purchase of gasoline starting July 5.

For decades, Costco allowed anyone from the public to buy their gas at the same price as members.

Consumer credit surged by $38B in April

Americans are continuing to lean on credit cards and loans, as consumer credit surged by $38 billion in April amid the highest inflation in 40 years.

The Federal Reserve says revolving credit, which mostly includes credit card balances, grew at an annualized rate of 19.6% and totaled $1.103 trillion in April.

Wells Fargo temporarily halts diversity push

Wells Farge has temporarily halted the use of diversity guidelines for hiring after a report that staff held fake interviews with minority candidates to satisfy in-house rules.

“The New York Times” reported last month on the issue, citing current and former employees who said supervisors in the wealth-management division had instructed them to interview black and female candidates for positions that had already been promised to someone else.

The IRS is warning about continued coronavirus-related scams.

Scammers have been using the coronavirus pandemic to confuse potential victims into handing over their hard-earned money. The agency says they target Americans with emails and phone calls.

One of the most common scams during the pandemic is the use of stolen personal information to file bogus unemployment claims

Walmart pulls Chaokoh coconut milk from shelves

Walmart is pulling the product after reports of forced monkey labor.

Walmart became the latest retail giant to drop Chaokoh coconut milk after repeated reports that monkeys were being forced to work to make the product.