Monday, June 21, 2021
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Plummeting gas prices boost US economy

By Courtney Wirths
Features Editor

• Gas prices are dropping. In most stations across the nation, a gallon of gas has dropped below $3 which has created relief for American consumers and will lead to a slight boost for the U.S. economy. If prices continue to fall, however, it poses a risk to oil-producing states and the large companies within them.

• Twitter’s slow growth, especially when compared to Facebook Inc., is a cause for concern for many investors. A year after the company’s initial public offering, the internet giant has more than doubled its revenue, however the weak growth in user still caused shares to drop 10 percent.

• Yes, they now have bananas. Chiquita Brands International Inc. agreed to be acquired by a Brazilian orange-juice maker and its investment-firm partner for $742 million. The deal would give the famed banana company access to Cutrale-Safra’s farming and logistics expertise.

• In Apple’s world of popular products, the item bringing in the highest revenue gain wasn’t the latest versions of the iPhone, but rather the Mac. During the year of the product’s 30th anniversary, the line of computers saw a 21 percent jump in sales causing it to pass the iPad and become the company’s second largest source of revenue behind the iPhone with total sales of  $6.625 billion this past quarter.

• The U.S. Commerce Department has decided to place a tariff on sugar imports. The tax defends against the preliminary opinion that Mexican sugar producers dumped the sweetener into the U.S. markets, lowering prices and undermining U.S. farmers. The preliminary tariffs will range from 39.54 percent to 47.26 percent on top of tariff fees as high as 17.01 percent on Mexican sugar imports.

*All information according to the Wall Street Journal.


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