Coca-Cola announces World Without Waste initiative

The markets traded mixed during the midday with the Dow falling 38 points to 25,979 while Nasdaq rose 28 points to 7324.


Coca-Cola introduced its World Without Waste initiative to collect and recycle all of its bottles and cans by 2030. Bottles will be made with an average of 50% recycled material in 12 years with a long term target of using 100% recycled material. The soda company is also researching and developing plant based packaging products in order to reduce the use of plastic.


Amazon will increase the monthly fee for its Prime members from $10.99 to $12.99 while maintaining its annual membership at $99. Prime members receive free two-day shipping as well as streaming service and unlimited photo storage. Analysts estimate that there are 90 million Prime members who spend an average of $1,300 per year compared with non-members who spend approximately $700 per year.


A settlement agreement between car owners and General Motors over faulty ignition switches has been thrown out by a bankruptcy judge. The car maker had agreed to pay $1 billion to settle approximately 500 personal injury and wrongful death claims but the agreement was never signed. The judge said that the agreement was unenforceable.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 7 to 3 on Nasdaq. The broader S&P 500 rose 5 points to 2,803. Bitcoin added $14 to $11,308.


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