Weekend Business News Roundup January 27, 2024
2024's most powerful passports ranked
Japan and Singapore enjoyed the shared distinction of having the most powerful passports in the world since 2019. But they’re not alone anymore.
Four European Union member countries — France, Germany, Italy, and Spain — have joined the two Asian countries in sharing the top spot for being able to travel to a country in 2024 without a visa, according to an annual ranking. The list compiled by the consultancy firm Henley & Partners uses data from the International Air Transport Association. - Michelle Cheng Read More
Baby boomers are hoarding houses and leaving a laundry list of big fixes for younger buyers
The housing market is tough today for young Americans. Prices are high. Interest rates are high. The savings needed for a deposit are getting eaten up by inflation, job loss, and childcare. Unfortunately, tomorrow’s housing market isn’t shaping up to be too great, either. - Melvin Backman Read More
Subway made a big investment in new meat slicers and it's not looking good
When Subway announced last year that it would be removing pre-sliced meat from its assembly line and adding automatic deli slicers to its more than 20,000 locations, the intention was to improve the chain’s overall sandwich quality. Just six months after this systemwide change, however, Restaurant Business reports Subway’s on-site deli slicers are not having the intended effect, and might even be hurting franchise locations. - Angela L. Pagán / The Takeout Read More
ExxonMobil is suing its own shareholders over a proposal aimed at reducing emissions
The Earth is heating up. No doubt. And one of the chief reasons the Earth is heating up is the consumption of oil and natural gas to power and produce things. Naturally. It makes sense, then, that a pair of activist investor groups would suggest that ExxonMobil Corp., the world’s largest privately owned oil company, do something to help cut down on all that consumption. ExxonMobil responded by suing the groups in US federal court, a very expensive, vehement Uh, no. - Melvin Backman Read More
The airlines with the greatest share of Boeing's second troubled model
A second Boeing airplane model is officially under scrutiny: the 737-900ER.
The US Federal Aviation Administration (FAA) told airlines on Sunday (Jan. 21) that they need to check their fleet of 737-900ER for issues with an aircraft part called a door plug. This has the biggest implications for Alaska Airlines, the US carrier with the largest share of 737-900ERs in its fleet. - Laura Bratton Read More
Brex, once a Silicon Valley darling, is laying off 20% of its workforce
Brex, a US fintech startup, has cut more than 200 employees from its 1,000-person workforce. This move shows that even a decacorn—a privately held company with a valuation topping $10 billion—isn’t immune to job losses. The startup said it’s doing some restructuring, according to an email sent today (Jan. 23) to an employee who received a layoff notice. - Michelle Cheng Read More
The best jobs of 2024, according to Indeed
The top jobs in the US in 2024 are in mental healthcare, according to Indeed — and mental health technicians, mental health therapists, and psychiatrists are the best ones to apply for this year. - Laura Bratton Read More
Tesla has been a tech stock stinker as Microsoft joins Apple in the $3 trillion club
At the top of the year, the Wall Street Journal let the world know about the “Magnificent Seven,” a basket of tech stocks that traders were hyping up for the high profits amid a period of economic uncertainty. - Melvin Backman Read More
United Airlines says growth will slow for years because of Boeing's 737 troubles
United Airlines expects its capacity growth to slow in the coming years, thanks to the drama at its biggest aircraft supplier, Boeing.
Many of the airplanes United bought from Boeing that were supposed to be delivered this year are the very same model that’s causing the industry headaches: the 737 Max 9. That Boeing model was grounded on Jan. 6 due to issues with the manufacturing and design of an airplane part called a door plug. The problems began when a door plug blew off a Max 9 during a tumultuous Alaska Airlines flight the day before. - Laura Bratton Read More
United and Alaska Airlines' Boeing 737 Max 9 planes will return to the air
The US Federal Aviation Administration said grounded Boeing 737 Max 9 airplanes will be cleared to return to the skies after it does an inspection and maintenance check. - Laura Bratton Read More