Nestle increased its prices by roughly 5% in the first three months of 2022, passing heightened food costs on to consumers. Despite the price hikes, consumer demand remained high for the company according to executives. Industry experts noted that food prices have skyrocketed this year in particular as a result of the conflict in Ukraine. Some observers have warned that dry-weather forecasts for the year may lead to degradation of farm land and even higher prices of food.

Amazon announced a new “Buy with Prime” initiative extending the benefits of Amazon Prime membership to independent sellers that use Amazon warehouses or delivery. The move represents another action taken by Amazon to compete with delivery giants such as FedEx and its fast-growing e-commerce rival Shopify. The news came as the U.S. Postal Service said it will slow first-class package deliveries, with some observers saying the new program could allow Amazon to surpass U.S.P.S. in the package delivery space.

The number of Americans collecting jobless aid dropped to lits lowest level since 1970, demonstrating what some have called the resiliency of the U.S. economy despite a number of challenges ranging from geopolitical strife to record high inflation. Observers cited increasing demand for workers and rising wages as catalysts that have attracted more people to the workforce, but economists have warned that economic growth could hit a wall as rising average wages may prolong inflation.

Corporate travel is rebounding after a historic dip due to the COVID-19 pandemic with multiple airlines expecting a strong summer travel season. Despite signs of recovery in the travel industry, fears remain that the rise of videoconferencing will lead to permanently reduced levels of business travel. The news followed a new report that predicted hotels will still see a roughly $20 billion loss in business travel revenue in 2022.

Warner Bros. Discovery announced it will be shutting down CNN+ after only one month, ending a streaming service that suffered from low viewership since it began. The news came as HBO grew to 77 million subscribers and streaming giant Netflix reported a decline in viewership. The closure of CNN+ and Netflix’s declining subscriber numbers has led some to question how many streaming services consumers are willing to pay for and how profitable these companies can expect to be going forward.

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