Business Update – 26 July 2023
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
UPS workers poised for biggest strike in 60 years
Thousands of part-time employees at UPS are pushing for higher pay as the Teamsters union, which represents 340,000 UPS workers, and the delivery giant resume contract negotiations next week. If no deal is reached by July 31, the union has vowed to walk off the job in what would be America’s biggest strike in 60 years.
AI could revolutionize dentistry
Hundreds of dental offices across the U.S. are now using AI-powered X-ray imaging technology. The software helps dentists deal with routine procedures, such as identifying cavities, as well as spot more serious conditions, including periodontal disease, or bone loss within the mouth often linked with diseases like diabetes or Alzheimer’s.
Military Spouses encouraged to pursue entrepreneurship with new SBA training course
In a move that could potentially transform the landscape of small business ownership, the U.S. Small Business Administration (SBA) has launched a fresh business training initiative, “The Military Spouse Pathway to Business Program.”
Craftsman factory in Texas shows challenges of reshoring manufacturing
The unsuccessful effort to launch a highly-automated factory for Craftsman tools in the U.S. underscores the challenges American businesses face in bringing manufacturing back from overseas.
Consumer risks posed by employer-driven debt
After hearing from a number of consumer and worker organizations concerned about the potential impacts of employer-driven debts, the CFPB launched a formal inquiry in June 2022 seeking data about, and worker experiences with, employer-driven debt. This issue spotlight showcases the findings from that inquiry.
Even Congress thinks its members should stop playing the stock market
The vast majority of voters do not want members of Congress to trade stocks. Plenty of members of Congress say they don’t think they and their colleagues should be playing the stock market either.
What’s ahead for Bank of America and its customers
Recently, the CFPB took action against Bank of America for breaking federal laws that apply to financial products, including bank accounts and credit cards. If you are a Bank of America customer, here’s information to help you understand whether you may have been harmed, what refunds and reimbursements to expect, and what else to watch for.
Top 10 U.S. cities for retirees
U.S. News & World Repot evaluated the 150 largest metropolitan areas in the U.S. using date from a variety of sources, including the U.S. Census Bureau and the Tax Foundation and reveals the top 10 cities for retirees.
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