Morning Business Report: Stamp prices increase again
On Sunday, the cost of postage went up. A ‘forever’ stamp for first class mail rose from 63 cents to 66 cents. Since early 2019, the United States Postal Service has raised stamp prices by 32%, in an effort to boost its revenue, while mail volume continues to fall. The USPS says that the increase is partially due to high inflation.
This year alone, Eli Lilly has gained $94 billion in value. Optimism about its weight loss drug has pushed the stock higher, and it is now the world’s largest healthcare firm.
Stocks tumbled Friday. It was a losing week, with less job growth than expected.
Last year, YouTube star Logan Paul launched his own energy drink, called Prime. Now, the FDA is being called to investigate Prime. The launch led to lines at stores and resale markets in schools. Company representatives have defended the product, which contains the same amount of caffeine as six cans of Coke, saying that Prime is clearly labeled ‘not recommended for children under 18.’
A new survey dives into how different Zodiac signs budget for vacations. It found that Scorpios are the most generous vacation spenders, averaging $2,900 per vacation. Virgos aren’t far behind in terms of spending, with their average vacation budget being $2,913. The most frugal sign was Taurus, at $2,200. The survey was conducted by OnePoll on behalf of CheapCaribbean.
