Walgreens is closing 150 stores as COVID eases
Happy Almost July 4th! It's Paul Davidson bringing you the top headlines for The Daily Money.
Walgreens is closing 150 stores in the U.S. as the fading pandemic reduces demand for its products and services.
The company didn’t announce which locations will be shuttered but said the closings will occur before next May, the end of its fiscal year. Three hundred Walgreens outlets in the United Kingdom are also shutting down.
Contributing to the decision was an 83% drop in demand for COVID-19 vaccinations and a sharp decline in COVID testing, the company said.
DoorDash drivers can get paid by the hour
From now on, time is money for many DoorDash drivers.
Starting next month, the popular food delivery service will offer drivers the option of getting paid by the hour. Currently, they’re paid per delivery.
Drivers can get a guaranteed hourly minimum rate based on the time that elapses from the moment they accept an offer until it’s dropped off. They can also choose to continue earning per gig, or delivery.
The hourly minimum rate is set by the city in which the driver lives.
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Recall alert
The U.S. National Highway Traffic Safety Administration issued several recalls that included Ford, Lincoln and Porsche vehicles.
Ford is recalling 14,452 of its 2019-2020 Fusion Plug-in hybrid electric vehicles because the battery energy control module may be damaged by excessive voltage and current flow. That can cause a loss of drive power or a fire and lead to a crash or injury.
Ford is also recalling 366 of its 2023 Lincoln Nautilus vehicles because the rear shock absorbers may have been manufactured incorrectly. That can damage several parts and increase the risk of a crash.
And Porsche is recalling 700 of its 2022-2023 911 GT3 Touring vehicles due to a software error in the rear spoiler control unit that may cause two sets of brake lights to go on at the same time and confuse other drivers.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.