SWC’s Fast Five
Change, change, change… self-operating tractors, a foreign automaker tops American auto-sales, mid-level staff lead the great resignation, goodbye “GMO – hello “bioengineered” and just in time for our holiday bills to come due, regulatory scrutiny sets its claws in the buy now, pay later industry.
So, here’s this week’s Fast Five:
1 Washington puts “buy now, pay later” industry on notice
The buy now, pay later (BNPL) industry — an increasingly important driver of retail sales — could face new rules as D.C. scrutiny builds. The Consumer Financial Protection Bureau is concerned BNPL may encourage overspending and dodge existing regulations around credit and lending.
2 Toyota dethrones GM to become America’s top-selling automaker
Toyota Motor has dethroned General Motors as America’s top-selling automaker in 2021, marking the first time since 1931 that the Detroit automaker wasn’t the best-selling car company in the U.S. It also marks the first time a non-domestic automaker has taken the top spot in America.
3 Millennials burned by hustle culture
Millennials are a driving force behind the great resignation. Harvard Business Review found resignation rates increased most for millennials in mid-level positions as some have recalibrated their work priorities due to the pandemic, for more flexibility and time off from work.
4 GMO is out, ‘bioengineered’ is in, as new U.S. food labeling rules take effect
Say goodbye to GMOs. The new term for foods created with a boost from science is “bioengineered.” As of Jan. 1, food manufacturers, importers and retailers in the U.S. must comply with a new national labeling standard for food that’s been genetically modified in a way that isn’t possible through natural growth.
5 John Deere’s self-driving tractors stir debate on AI in farming
Deere & Co. helped mechanize agriculture in 1837 with the first commercially successful steel plow. On January 4, 2022, the company unveiled a machine that could prove just as transformative: a fully autonomous tractor. The new tractor uses six pairs of stereo cameras and advanced AI to perceive its environment and navigate fields.