Economics impacts our lives every day. Below are some of the top storylines from this past week in economic news.
- The coronavirus continues to spread with more than 400 cases reported as of Saturday in South Korea. The Associated Press reports that the cases in South Korea are mostly linked to a church and a hospital in the country’s fourth-largest city, Daegu. Around the world, there have been 2,300 fatalities, and nearly 78,000 people in 29 countries have been infected.
- Consumers abandoned traditional cable TV at a faster rate last year, according to The Wall Street Journal ($). Large cable and satellite companies lost an estimated 5.5 million customers to companies with streaming services and platforms, including Netflix, Hulu, Disney+, Apple TV+.
- Grocers are taking shelf space away from the largest food makers in favor of smaller trendier companies. The Wall Street Journal ($) reports that grocers are using algorithms and data to assist in using its shelf space, devoting more space to newer or trendier products for customers.
- The Boy Scouts of America filed for bankruptcy, showing signs of financial instability amidst the 300 lawsuits filed from men who said they were sexually assaulted as Boy Scouts. NPR reports that the organization’s most recent tax filing showed revenue exceeding $285 million.
- Want to save money? Chances are, you can. Business Insider came up with 24 ways our society wastes money; from buying lottery tickets to timeshares.