The failure of antitrust suits against Facebook, a proposed savings fund for children that could later be put toward starting a business, rising gas prices, extra time off, funding for Connecticut’s cultural organizations, and a major Navy helicopter contract are among the top business news items this morning.
National
A federal judge has dismissed two antitrust lawsuits brought against Facebook by the Federal Trade Commission and more than 40 states. The ruling declares that the plaintiffs failed to make the case that Facebook has created a monopoly on personal social networking and that the states waited too long to bring the suits to court.
A Democratic proposal introduced in the Senate would provide a savings account of up to $9,000 for children of parents or guardians earning less than $100,000 a year. The bill says the money could partially go toward college expenses after the recipient turns 18 and toward other approved purposes, including starting a business, once the recipient turns 26.
Business trends
Gas prices are on the uptick again after declining recently, with the national average reaching $3.09 per gallon. The increase has been attributed to the traditional seasonal increase in travel as well as inflationary pressures.
Some companies are deciding to give employees some extra time off to recover from increased stress and burnout associated with pandemic disruptions. The Washington Post reports how both major companies and small businesses have taken steps such as implementing a week off for employees to recuperate.
Connecticut
Connecticut Humanities has announced that it will receive more than $30 million through the state budget. This funding will go toward stabilizing the state’s arts and cultural organizations as well as some other purposes, such as an expansion of digital programming.
Sikorsky Aircraft, the Stratford-based manufacturer, has received a $878.7 million contract from the U.S. Navy. The contract is for nine CH-53K helicopters, with the option for the Navy to order nine more.
