Category: Business News

Apple became the first company to have a market cap topping $3 trillion

Apple’s market cap topped $3 trillion on Friday, as shares rose about 1% to a new high and passed the $190.73 price required to hit the milestone, according to CNBC’s most recent share count.

Apple was the first company to hit a $3 trillion market cap during intraday trading in January 2022, but it failed to close at that level. It has another shot to do that on Friday.

It shows investors remain bullish on the stock and Apple’s portfolio of products and services, despite the company’s warning in May that its current quarter revenue is expected to fall about

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Fake online reviews: US proposes bans

WASHINGTON –

US federal regulators are looking to crack down on fake reviews and other deceptive internet practices.

The Federal Trade Commission proposed a new rule Friday that would ban paying for reviews, suppressing honest reviews, selling fake social media engagement and more. Businesses would also be prohibited from running company-controlled websites that claim to be independent, and other deceptive practices like “review hijacking,” which makes reviews for one product appear like they were written for significantly different ones.

If the proposed rule is approved, following a 60-day public comment period, violators could face hefty penalties.

“Our proposed rule on

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Nigel Farage bank account shut for falling below wealth limit

Nigel Farage

Nigel Farage

Nigel Farage fell below the financial threshold required to hold an account at Coutts, the prestigious private bank for the wealthy, the BBC has been told.

It is understood that he was afterward offered a standard account at NatWest which owns Coutts.

Mr Farage says he believes his account is being shut down for political reasons and he has been turned down by nine other lenders after trying elsewhere.

But people familiar with Coutts’ move said it was a “commercial” decision.

“The criteria for holding a Coutts account are clear from the bank’s website,” they told the BBC.

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Canadians seeking financial advice from banks left unsatisfied

Roughly two-thirds of retail bank customers ‘financially unhealthy,’ the study finds

Published June 30, 2023 • 4 minute read

Pedestrians walk near a Royal Bank of Canada building in the financial district of Toronto.
Pedestrians walk near a Royal Bank of Canada building in the financial district of Toronto. Photo by Brent Lewin/Bloomberg files

As high inflation, rising interest rates and market volatility take a toll on their finances, Canadians are seeking advice from their financial institutions, but some banks are not delivering this effectively, according to a new study.

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United CEO apologizes for flying private

New York –

United CEO Scott Kirby is apologizing to customers and his own employees after taking a private jet during a week when his airline was canceling thousands of flights.

The airline confirmed Kirby flew from Teterboro Airport in New Jersey to Denver, Colorado, on Wednesday, and that the company did not pay for his flight. Teterboro is about 17 miles from Newark, New Jersey, where one of United’s largest hubs is located and which was the center of the airline’s meltdown this week.

In a statement, Kirby said he regretted that his actions distracted the professionalism of United

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This week’s business news includes a Bell milestone and USDA updates

The Bell H-1 Fleet surpasses half a million flight hours

FORT WORTH – The current H-1 fleet of AH-1Z Vipers and UH-1Y Venoms reached a major flight milestone by surpassing the 500,000-flight hour mark. Nearly 400 AH-1Z and UH-1Y helicopters, built by Bell Textron Inc., a Textron Inc company and operated by the US Marine Corps and their allies, combined to achieve the milestone.

“The H-1 continues to be the premier example of a family of aircraft that can do more with less and deliver unmatched interoperability and expeditionary agility,” said Mike Deslatte, Bell H-1 vice president and program director.

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What’s opening and what’s closing? Check out Center County business news from June

A new fireworks store opened just in time for July Fourth and plans were announced for a new donut shop and hotel. Here’s a roundup of Center County business news in June.

What’s opening

Wholesale Fireworks is now open at 2000 E. College Ave., the former Sheetz near Lemont.

Wholesale Fireworks is now open at 2000 E. College Ave., the former Sheetz near Lemont.

  • Owners Jon and Meredith Houser announced plans to open Bellefonte Brick Studio, an independent Lego store, on July 1 at 104 N. Allegheny St. The store’s hours are 10 am to 6 pm Tuesday-Saturday.

  • Dunkin’ will open a second downtown State College location this fall. The donut chain plans a store

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New Baby? Time to Update Your Estate Plan

We often have clients ask us when the best time to do their estate plan is and the answer is usually, right now! This is especially true for people turning 18 years old, people who don’t have a plan, and people who have had recent life changes.

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One event that should trigger you to meet with an estate planning attorney is a new baby. When you are expanding your family,

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