Social censorship, and a lot of earnings reports
Good morning everyone, and welcome to the last week in April—we hope you’re ready for some May flowers!
0:05- Restaurant Warfare for new hires
As the country continues to open up, the demand for restaurants is skyrocketing. The only problem? Restaurants can’t hire enough workers. Due to that, fast food operators are being forced to offer higher hourly pay, and perks like never before. Jimmy John’s for example is offering signing bonuses, while Chipotle is offering college tuition to any employees who are working at least 15 hours a week after they’ve been on the job for four months. Meanwhile, local restaurants who can’t compete with higher wages are being forced to either raise prices for consumers or operate for less hours each week.
0:32- Twitter and Facebook censor posts
As India continues to struggle with a massive Covid outbreak, the government ordered Twitter and Facebook to take down more than 100 posts in India that were critical of New Delhi's Covid policy, citing concerns that the posts could “incite panic among the public.” Both Twitter and Facebook complied with the requests, however while Facebook did not respond to comments, Twitter did immediately disclose both the government’s request and their response.
0:51- This week on Wall Street
‘Tis the season for earnings—more than 1/3 of the S&P 500 will report quarterly results this upcoming week, including giants such as Alphabet (Google), Microsoft, Apple, and Tesla. Overall, more than 181 companies out of the 500 will have earnings calls this week, and analyst expectations have those companies increasing revenue by 34% YoY.
1:06- The richest man in the world has Saturday night plans
In a surprise announcement this weekend, SNL announced that their May 8th edition of the show would include Elon Musk as the host and Miley Cyrus as the musical guest. While CEOs aren’t typically the host for SNL, Musk has appeared in TV/Movies before, including notable appearances in Iron Man 2, and The Big Bang Theory.
1:21- A billion dollar initiative
During President Biden’s International Climate Summit, a new coalition called LEAF was formed. This partnership will dedicate more than $1Bn in 2021 alone to large-scale forest protection, and so far the members include the UK, US, Norway, AirBnb, Amazon, Bayer, GSK, Nestle, and Unilever, making it the largest ever private-sector investment in forest sustainability.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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