- Instacart prices IPO at $30 a share, values grocery-delivery company at about $10 billion. The IPO is the largest in the grocery sector since Albertsons went public in 2002.
- Norfolk Southern announces details of plan to pay for lost home values because of Ohio derailment. The railroad company will pay $10 million to establish a trust fund to compensate homeowners for the loss of value of their homes.
- Family says 14-year-old daughter discovered iPhone taped to back of toilet seat on flight to Boston. The family is demanding an apology from American Airlines, which has said it is investigating the incident.
- ABC will air an additional 10 ‘Monday Night Football’ games because of writers and actors strikes. The NFL and ABC have reached an agreement to air additional games on the network due to the ongoing strikes by the Writers Guild of America and the Screen Actors Guild.
- A railroad worker died after being struck by a remote-controlled train. The worker was working on a track in California when he was hit by the train.
- Farmers across Bulgaria protest against Ukrainian grain as EU divide grows. Bulgarian farmers are protesting against the import of Ukrainian grain, arguing that it is unfair competition.
- Netanyahu talks to Elon Musk in California about antisemitism on X and artificial intelligence. The former Israeli prime minister met with Musk to discuss ways to combat antisemitism on X and to explore potential collaborations on artificial intelligence.
These are just a few of the top US business news stories for today, September 19, 2023. Stay tuned for more updates on the US economy and businesses in the coming days and weeks.
In addition to the above news stories, here are some other notable US business developments from recent days:
- US consumer confidence falls to lowest level since February 2021. The Conference Board’s Consumer Confidence Index fell to 103.8 in September, down from 104.5 in August.
- US housing prices continue to rise, but pace of growth slows. The S&P Case-Shiller Home Price Index rose 15.5% in July compared to the same month a year ago, down from a 18.6% increase in June.
- US stock markets rebound after recent sell-off. The Dow Jones Industrial Average rose 1.5% on September 18, the S&P 500 index rose 1.3%, and the Nasdaq Composite index rose 1.1%.
- US job growth slows in August, but unemployment rate remains low. The US economy added 315,000 jobs in August, down from 528,000 jobs in July. The unemployment rate remained unchanged at 3.7%.
- US trade deficit widens to record high in July. The US trade deficit widened to $87.6 billion in July, the highest level on record.
The US economy is facing a number of challenges, including inflation, rising interest rates, and supply chain disruptions. However, the economy is still growing and the unemployment rate is low. It will be interesting to see how the US economy performs in the coming months and quarters.
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