Business briefs - Associated Press - June 19, 2024

Poll: Many favor forgiving medical debt

NEW YORK (AP) — Majorities of Americans favor forgiving all or some of an individual's medical debt if the person is facing hardships. That's according to a new poll from the University of Chicago Harris School of Public Policy and The Associated Press-NORC Center for Public Affairs Research. The survey found that about half of Americans say it's extremely or very important for the U.S. government to provide debt relief for those who have yet to pay off medical treatments. Although reducing student loan debt has been a focus for President Joe Biden, the poll found that Americans are more likely to say medical debt relief should be a government priority.

Retail sales ekes slight gain as high inflation curbs spending

NEW YORK (AP) — Consumers barely increased spending in May from April as still high inflation and high interest rates curbed spending. Retail sales rose 0.1% in May, below the pace that economists projected, according to a report from the Commerce Department on Tuesday. And April sales were revised downward _ a 0.2% decline from unchanged. Sales rose 0.6% in March and 0.9% in February. That comes after sales fell 1.1% in January, dragged down in part by inclement weather.

Fisker files for bankruptcy protection

Electric vehicle maker Fisker filed for Chapter 11 bankruptcy protection, the second electric startup to do so in the last year as even industry leaders struggle to lure more buyers beyond the early adapters of the technology. Its operating subsidiary, Fisker Group Inc., said in its filing that its estimated assets were between $500 million and $1 billion. It estimated liabilities are between $100 million and $500 million. Fisker said late Monday that it's in advanced talks with financial stakeholders about debtor-in-possession financing and selling its assets.

McDonald's ending AI-powered drive-thrus

NEW YORK (AP) — Ever get your McDonald's order mixed up at an AI-powered drive-thru? The experiment behind the fast food giant's current automated order taker will soon be coming to a close. McDonald's confirmed that it's decided to end a global partnership with IBM, which has been testing this artifical intelligence technology at select McDonald's drive-thrus since 2021. While the IBM partnership for McDonald's current automated order taker is winding down, the Chicago-based company seemed to suggest that it wasn't ruling other any other AI-related drive-thru plans down the road. And scores of other fast food chains have also begun exploring the implementation of AI in their drive-thru lanes — including Wendy's, White Castle, Panera and Popeyes.