Here’s what we have for you today:
• US pricing
• Card master
• United confrontation
Inside view of US economics
To some: Following the retail pricing such as the Costco hot dog, which has held steady at $1.50 for years. Another is the giant 23-ounce canned Arizona Iced Teas which sell at $0.99 ever since 1996. However, this cannot be said for other sectors and organizations within US.
The veteran: Former Home Depot CEO Bob Nardelli stated “I’ve been at this for 52 years, and I think that I see more uncertainty now than I’ve ever seen in our country in running corporations across a broad sector of businesses.”
2023 woe: Bob Nardelli continues “I was just in L.A. a couple of weeks ago, I paid $6.43 a gallon for gas. So it still has a lot of pressure on us out there. We hear about UPS potentially going on strike and some of the other things that are out there with United and the [United Auto Workers], so I think we have more uncertainty.”
Mastercard complying with US regulations
Card limit: Mastercard has told financial institutions to stop allowing marijuana transactions on its debit cards, due to the fact that cannabis is still illegal at the US federal level.
That said: A spokesperson from Mastercard stated “The federal government considers cannabis sales illegal, so these purchases are not allowed on our systems.”
Sum it up: According to current US regulations, financial institutions that provide services to legal cannabis businesses face strict regulatory and reporting requirements.
UK consumer ordeal with Apple & Amazon
Priced in: Apple and Amazon are facing a lawsuit in the UK for allegedly abusing their market power by conspiring to increase the price of Apple products.
Seeking amount: The lawsuit seeks a minimum of £500 million on behalf of millions of UK consumers who bought Apple or (Apple-owned) Beats products on Amazon’s marketplace since October, 2018.
Price-conscious: The proposed class representative for the lawsuit is Christine Riefa, a professor of law at the University of Reading with academic work focusing on consumer protection law and policy. She argues the pair’s market power enabled them to restrict consumer choice and drive-up prices.
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