Morning Business Report: 8/18
Jane King reports on the latest news in business, including how school supplies and tech are in short supply, Halloween decor sales are looking good, and conspiracies in the automobile industry.
Analysts say and parents are paying more for classroom items than last year, and backpacks, clothing, sneakers, laptops and gadgets are in short supply.
Home Depot said they quickly sold out of an early release of Halloween products, whereas last year they had their most successful Halloween event ever, when they quickly sold through stock of a 12-foot skeleton. These sales are signal that consumers will be eager to decorate their homes this fall and winter.
A federal judge fined FCA us $30 million on Tuesday after the automaker admitted that it paid off united auto workers leaders to try to win concessions in negotiations covering thousands of factory workers. The automaker pleaded guilty in March to conspiracy.
A study shows 15% of paycheck protection program loans could be fraudulent. The University of Texas at Austin’s Mccombs school of business blames financial technology firms which focus on digital lending. Nine of the 10 lenders with the highest rate of suspicious loans fell into that group.