Today’s Top Business News – The Los Angeles Tribune
- Reduced global fuel-making capacity is holding back supplies as drivers hit the road and demand recovers from the onset of the pandemic.
- The popularity of older songs, due to nostalgic listeners or TikTok trends, makes the ubiquitous summer jam harder to break through.
- Consumers are growing cautious, and companies from Walmart to Procter & Gamble are altering course to reflect changing budgets.
- The billionaire’s takeover comments haven’t just made waves inside the social-media company. They have also frustrated some boosters of Tesla, whose stock has fallen some 30% since he disclosed his Twitter stake.
- After years of fighting to keep engineers and other sought-after employees from leaving for rivals or buzzy startups, the healthiest of the big tech companies are increasingly attractive for tech workers suddenly keen on stability amid signs of trouble throughout the industry.
- Airlines are facing weather-related disruptions and grappling with staffing shortages as the Memorial Day holiday presents carriers with a first test in the run-up to an expected summer travel boom.
- U.S. households boosted spending for a fourth straight month in April, but the savings rate fell to the lowest in 14 years, suggesting many Americans are tapping savings to offset cost increases from inflation.
- China’s global campaign to expand the reach of its political positions is helping it secure a coveted piece of online real estate: first-page search results on Google and other major Western portals.
- The once-beleaguered theme-park company’s largest shareholder and chairman, Scott Ross, has turned things around—sometimes using a blunt approach.
- Consumer prices rose 6.3% in April from a year earlier, down from 6.6% in March, as measured by the Commerce Department’s personal-consumption expenditures price index, but remained near a four-decade high.