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Category: Business

Fisher-Price recalls baby soothers & gliders after 4 infant deaths

Fisher-Price has recalled models of its baby soothers and gliders after the deaths of four infants who were reportedly left on their backs unrestrained and later found on their stomachs. In a joint statement with the US Consumer Product Safety Commission (CPSC), the company announced on Thursday the recall of the Fisher-Price 4-in-1 Rock ‘n Glide Soothers and 2-in-1 Soothe ‘n Play Gliders, CNN reports. The statement said the reported deaths occurred in 4-in-1 Rock ‘n Glide Soothers between April 2019 and February 2020: A 4-month old in Missouri, a 2-month old in Nevada, a 2-month...

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Shares of ‘Baby Shark’ investor soaring after tweet from Elon Musk

NEW YORK / CNBC — Shares of Samsung Publishing, a major shareholder in the producer of “BabyShark,” spiked on Wednesday after a tweet by Tesla CEO Elon Musk about the viral children’s song. The South Korean shares soared more than 10 percent at one point during regular trading on Wednesday, before closing out 6.29% higher. The company has no affiliation with South Korean conglomerate Samsung Group, even though they share the Samsung name. Wednesday’s gains came on the back of a tweet by Musk on Tuesday morning Asia time, which said: “Baby Shark crushes all! More views...

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AMC latest “meme” stock to hit a rally, jumping 17% after selling shares to investor

NEW YORK, N.Y. / CNBC — AMC Entertainment shares surged again on Tuesday when the theater chain sold more than 8 million shares to an investment firm, the latest in a series of capital raises for the struggling company turned ‘meme’ stock. The purchase by Mudrick Capital Management helped AMC raise $230.5 million. AMC officials said that they would be using the funds for potential acquisitions, updates to existing theaters, and deleveraging its balance sheet. Shares were up 17% in premarket trading. AMC was hit hard during the pandemic when their movie theaters shut in most...

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Construction industry faces worker shortage

FORT MYERS, Fla. – The construction industry is sounding the alarm that it is in the grips of a worker shortage.  The matter is so serious that some companies are turning away work because they can’t meet the demand. It’s the latest problem the industry has had to confront including a shortage in lumber and air conditioning units and parts. Leland Osborne can have his pick of jobs right now in the construction industry. “I started out working in our sheet metal shop,” Osborne said. “I worked out there for about a year and a half.” He currently...

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Four tips to get the best price with Florida’s hurricane prep sales tax holiday

Florida’s sales tax holiday for hurricane supplies starts Friday and runs through Sunday, June 6. Before you go to the store though, you should be aware of a number of caveats and exceptions on what you can buy and not pay sales tax on.  Let’s examine four tips to make you a more savvy shopper. Tip one: It’s not carte blanche  Florida’s sales tax holiday is not offered carte blanche. Only certain items are allowed to be sold without sales tax as determined by the State of Florida. What qualifies isn’t up to the store’s discretion, and it’s not up to...

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Property meant for Margaritaville’s satellite lot sold amid financial trouble

FORT MYERS BEACH, Fla. – The company managing the Margaritaville Resort’s construction project announced they are restructuring. Residents on Fort Myers Beach have been anxiously awaiting the highly anticipated resort construction to start. Right near the intersection of Pine Ridge Road and San Carlos Blvd, you can still see the sign from TPI Hospitality, advertising their plans for a plot of land there, but now, that plan is no more.  “That’s probably the least of our concerns right now,” Fort Myers Beach Mayor Ray Murphy said. “The major...

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Labor shortage crisis cripples some SWFL businesses

LEE COUNTY, Fla. – A labor shortage crisis is crippling some businesses in Southwest Florida. Simply put, there are more jobs than workers. Some people are blaming that on the $1,200 a month in federal unemployment that is set to end. The job placement firm Career Source warns that ending unemployment funds won’t solve the labor shortage. Employment experts reveal the problem is much more complex. The worker shortage crisis is affecting more than just businesses. It’s affecting employees too.   Bubba’s Roadhouse and Saloon employees like many in the industry are working...

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Amazon to buy MGM for $8.45B, paving way for extensive TV & film library on Prime

NEW YORK / AP — Amazon is going to Hollywood. The online retailer giant is buying MGM, the production studio behind James Bond, “Legally Blonde” and “Shark Tank,” with hopes of fill its video streaming service with more things to watch. Amazon is paying $8.45 billion for MGM, making it the company’s second-largest acquisition after it bought grocer Whole Foods for nearly $14 billion in 2017. This deal is the latest in the industry that’s aimed at boosting streaming services to compete with Netflix and Disney+. Amazon doesn’t say how many people watch its...

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Important things to know before the stock market opens Wednesday

Here’s a list of the most important news, trends and analysis that investors need to start their trading day: 1. Dow could rebound after breaking three-day winning streak Stock futures for the United States increased on Wednesday after the Dow broke a three-day winning streak. The 30-stock average closed down 81 points on Tuesday as the market struggled for direction ahead of Memorial Day weekend. It was up more than 100 points at session highs. 2. Bitcoin makes some progress, but the recent collapse has strengthened gold prices Prices for the popular cryptocurrency “Bitcoin”...

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Fisker tasked with developing all-electric popemobile

CNN — Fisker is set to develop the first all-electric popemobile based on the carmaker’s new Ocean SUV. The co-founders of the American electric carmaking startup, Henrik Fisker and Geeta Gupta-Fisker, had a private audience with Pope Francis on Thursday to show off the new design. The team presented the Vatican with a concept of a modified Fisker Ocean, a sleek SUV with an all-glass cupola, giving crowds the best chance of seeing the pontiff. Fisker said the car is expected to be delivered to the Pope next year. “I got inspired reading that Pope Francis is very considerate...

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