Shutdown costing economy $15 billion a week
INDIANAPOLIS (WISH) — Here is a look at Thursday’s business headlines with Jane King, who has the latest on China removing some retaliatory tariffs on US goods and how much the government shutdown is costing the economy.
China to remove some retaliatory tariffs on US goods
China will remove retaliatory tariffs on some U.S. farm products, including soybeans, corn, wheat, sorghum, and chicken, effective Nov. 10.
China’s commerce ministry will remove 15 American firms from an export control list and take 10 other U.S. companies off its unreliable entity list.
The moves are part of a broader trade pact between the U.S. and China.
Shutdown costing economy $15 billion a week
The government shutdown is now the longest in U.S. history.
Multiple economists calculate the cost to the U.S. economy at roughly $15 billion a week.
Meanwhile, airline stocks are lower after the transportation secretary said 10% of flights will be cut due to the government shutdown.
Supreme Court justices question legality of tariffs
Supreme Court justices had lots of questions about the legality of tariffs.
Investors started eyeing the possibility that the Supreme Court could wind back the clock.
Automaker stocks and others that do a lot of business overseas were higher on the perception that tariffs may be at least partially overturned.
Netflix: A lot of people are watching their ads
Netflix says its new ad tier reached more than 190 million monthly active viewers in October.
The ad tier costs $7.99 a month and is 3 years old.
The new metric encompasses members who have watched at least one minute of ads on Netflix per month.
he number is then multiplied by the estimated average number of people per household, as determined from Netflix’s first-party research.
Coca Cola’s ads aren’t the real thing
Coca-Cola has rolled out its second AI-generated holiday ad campaign, featuring its iconic trucks.
Eagle-eyed viewers have noticed glitchy inconsistencies.
The studio behind the ad said Coke is pioneering AI, “Rather than waiting for it to be 100% ready.”