INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines with Jane King.
Carnival will lose money this year
The cruise lines just can’t catch a break.
Carnival says it will lose money this year due to the Russian invasion of Ukraine.
The rising cost of fuel as a result of the conflict is eating into the company’s profits just as the cruise line gets back up and running after the pandemic.
Inflation impacting tipping
Inflation is taking a bite out of tipping.
During the height of the pandemic, consumers were exceptionally generous to service workers, handing out bigger tips that totaled as much as 30% of the total to delivery and restaurant workers, taxi drivers, manicurists and others.
But as COVID-19 recedes and rising prices settle in, tipping is taking a hit, according to new data from point of sale provider Square.
Mortgage rates surging
Mortgage rates are surging faster than expected.
The average rate on the popular 30-year mortgage hit 4.72% on Tuesday, moving a quarter percent since just Friday, according to Mortgage News Daily.
As a result of the recent spike in rates, economists are now lowering their home sales forecasts for this year.
IRS tax refunds larger than last year
The Internal Revenue Service has delivered 45 million tax refunds so far.
Also, the average IRS tax refund is much larger than last year’s amount.
The average payment so far is worth $3,352 versus last year’s average of about $2,800, though it may change by the April 18 deadline.
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