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INDIANAPOLIS (WISH) – Here’s a look at Thursday’s business headlines.
Gas
The national average for a gallon of gasoline is the highest since 2014.
Gasoline prices in the United States climbed to $ 3.21 per gallon this week.
The current average price in the Indianapolis area is $ 3.26 per gallon.
In some places, Americans pay more than $ 5 a gallon.
DG
General Motors plans to double its annual revenue to $ 280 billion by the end of the decade as it shifts to all-electric vehicles and diversifies its operations beyond selling cars and trucks.
The two-day investor meeting, including product testing on Thursday, is expected to provide a “clear strategy” for persuading investors to market the company more as a tech start-up like Tesla.
Kellogg’s
Kellogg’s is facing a strike at some of its factories which could impact grain supply.
The strike affects Rice Krispies, Raisin Bran, Froot Loops, Corn Flakes and Frosted Flakes.
Between 1,400 and 1,500 hourly workers employed in factories in Omaha, Nebraska; Battle Creek, Michigan; Lancaster, Pennsylvania; and Memphis, Tennessee, went on strike, ultimately threatening the production of its iconic breakfast products.
Toys
Toymakers warn delays in stocking retail shelves could create a 4-month holiday hangover.
Toymakers are grappling with a massive bottleneck in the global transport pipeline caused by the pandemic and made worse by the blockade of the Suez Canal in March.
Power outages in China, a shortage of residences and higher labor costs have also strained the supply of goods and raised prices.
MGA Entertainment, for example, had forecast sales growth of 50% this year, but now expects growth of 18-20%.
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