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Economy

In blow to Biden climate goals, Entergy shuts nuclear power plant

May 20 (Reuters) - Entergy Corp (ETR.N) said on Friday it has permanently shut a nuclear power station in Michigan despite a Biden administration plan to rescue plants like it because they generate electricity virtually free of carbon emissions. Entergy closed the 800-Megawatt Palisades plant in Michigan that had operated...
MICHIGAN STATE
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CNBC

Jeff Bezos keeps a 16-year-old framed magazine as a 'reminder' that Amazon's most profitable service was once just a 'risky bet'

Some people have framed diplomas. Others have framed photos with celebrities. Jeff Bezos has a framed 16-year-old copy of Businessweek magazine. On Wednesday, the Amazon founder tweeted a photo of the November 2006 magazine's cover, which featured a photo of Bezos at age 42 behind the text, "Amazon's Risky Bet." The cover story was about why Wall Street executives doubted that Amazon Web Services, then a brand-new on-demand cloud computing service, would ever succeed.
BUSINESS
Picture for Jeff Bezos keeps a 16-year-old framed magazine as a 'reminder' that Amazon's most profitable service was once just a 'risky bet'
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GOP vote against bipartisan relief bill threatens to kill tens of thousands of small businesses

This article originally appeared at Common Dreams. It is licensed under a Creative Commons Attribution-Share Alike 3.0 License. Feel free to republish and share widely. Advocates for independently-owned businesses warned that restaurants, gyms, and other Main Street businesses across the U.S. will be forced to close in the coming months after Republicans in the Senate on Thursday blocked a $48 billion package to provide relief to owners who have struggled to stay afloat during the coronavirus pandemic.
PRESIDENTIAL ELECTION

Musk’s get-out-of-Twitter card is worth $5 bln

NEW YORK, May 20 (Reuters Breakingviews) - Everybody has a price. And for Tesla (TSLA.O) boss Elon Musk, the price might be $5 billion. That’s the amount that he could reasonably pay Twitter (TWTR.N) to walk away from his $44 billion deal read more . It would save both companies a protracted legal battle, and, importantly, the headache of more disruption.
BUSINESS
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FOXBusiness

Elon Musk asks Twitter execs about resurfaced Hillary Clinton tweet

Tesla CEO Elon Musk is asking Twitter executives about a resurfaced Hillary Clinton campaign tweet that he considers a "hoax." Musk was responding to a Twitter user on Friday asking him about a previous tweet by the Hillary Clinton campaign which purports to have "uncovered a covert server linking the Trump Organization to a Russian-based bank"
BUSINESS

Kim Kardashian Buys the House Next Door to Her Hidden Hills Mansion for $6.3 Million

Last fall, it was revealed that Kim Kardashian would keep the San Fernando Valley Axel Vervoodt-designed home she, Kanye West, and their children shared following her divorce from the rapper. Now, the KKW beauty founder is putting more roots down in the Hidden Hills enclave. According to Dirt, the entertainer and entrepreneur just purchased a home adjacent to the Vervoordt-designed property for $6.3 million.
REAL ESTATE
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The Costco Hot Dog Hoax That Shocked Shoppers As Shares Tumbled This Week

Costco is famous for its various deals, but the most notorious bargain of all is the $1.50 hot dog and soda combo. It's evident that even after people spend hundreds of dollars at the warehouse club, they can't resist the allure of this deal, because Costco sells an average of 135 million hot dogs per year (via 425 Business). In the current state of the world with rampant inflation, the $1.50 hot dogs serve as a reminder of simpler times and a treat after a day of shopping. Whether or not it's practical to keep it at that price, however, is another story.
BUSINESS

Plans For Walgreens Closings in 2022

Walgreens permanently shuttered over 200 locations in 2019. Is this a sign of further changes for the venerable chain?. This article is based on corporate postings and accredited media reports. All linked information within this article is fully-attributed to the following outlets:BestLifeOnline.com, Wikipedia.org, ScrapeHero.com, Snopes.com, Google.com, and CNN.com.
SAN FRANCISCO, CA

Retail sell-off: discounters, auto stores lead losses

(Reuters) - A rout in consumer stocks gained more steam on Friday, as shares of Ross Stores led a retreat of other discount stores to cap off a bleak week for retailers. Ross shares were down 24.4% at $70.06 after falling as low as $69.75 after the discount apparel retailer cut its 2022 same-store-sales estimate to a decline of 2%-4% versus an earlier flat-to-up 3% target.
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CBS News

Wall Street is on the cusp of a bear market. Here's what that means for your money.

The stock market's tumble this year has put the S&P 500 on the edge of what's known as a bear market — or when stocks decline at least 20% from their most recent high. Stocks briefly entered a bear market Friday before paring losses shortly before the close of trading. Wall Street is grappling with the impact of rising interest rates, high inflation, the war in Ukraine and a slowdown in China's economy, prompting investors to reconsider the prices they're willing to pay for stocks.
STOCKS

Areas of Mississippi, southern United States at ‘high risk’ for electrical failure, outages, report says

Portions of Mississippi, Arkansas and Louisiana are at “high risk” of electrical grid failure this summer, according to a nonprofit group that helps set regulatory standards for U.S. grid operators. In its Summer Reliability Assessment for 2022, the North American Electric Reliability Corporation, warns that the Midcontinent Independent...
MISSISSIPPI STATE