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Cupcake Kitchen opens vending machine at Hamilton Place and more business news

Cupcake Kitchen has opened a vending machine in the mall

Chattanooga’s Cupcake Kitchen began offering some of its products Friday in a vending machine at Hamilton Place Mall with plans for a grand opening of the unit on Saturday.

Business owner Helen Grzybowski said the cupcake vending machine is located outside Dillard’s women’s store.

On Saturday, the business will offer prizes such as T-shirts and free cupcakes hidden in machines at its Broad Street bakery, he said in a telephone interview.

“We’re stocking it every day,” Grzybowski said. “Everything is pre-packaged.”

The vending machine is a first for the business and his daughter’s idea, he said, as all transactions are by credit card.

“It’s a way for us to expand without the expense of another storefront,” Grzybowski said.

Holtec plans to build 4 small modular reactors

Holtec is moving forward with a $7.4 billion plan to build four small modular reactors at a reactor plant in New Jersey.

Holtech is among a handful of companies racing to build small-scale nuclear reactors GE Hitachi is partnering with a utility in Ontario, Canada, to develop another small modular reactor design called the BWRX.

Holtec said in the release that Entergy Corporation, which operates nuclear power plants, has signed a memorandum of agreement with Holtect to evaluate the feasibility of deploying one or more SMR-160s. Entergy operates nuclear reactors at five sites in the US Southeast and Nebraska.

“The new giga-manufacturing facility, to be built at an as-yet-undisclosed location, will be a much larger version of Holtec’s modern heavy fabrication plant at its Camden technology headquarters,” the company said. “Holtec plans to build the new facility, tentatively named Holtec Heavy Industries, to materially improve America’s nuclear manufacturing capacity, and to make it available to other nuclear plant suppliers with capital hardware needs.”

Construction Career Enrollment July 26

Chattanooga State Community College’s Tennessee College of Applied Technology (TCAT), in partnership with East Tennessee (AGC) and Hamilton County Schools (HCS), announced Tuesday, July a Construction Career Center Enrollment Day for adult students. 26 from 9:30 a.m. to 4 p.m. at All Good Coffee Shop, 2420 Glass Street in Chattanooga.

The new Construction Career Center was created to provide a new vocational training center for the construction trades.

“The school’s new director of workforce development, Susan Cowden, will be onsite to share more information about the program and navigate prospective students through the enrollment process,” said AGC East Tennessee CEO Leslie Gower.

Chattanooga TCAT classes are scheduled to begin August 5 Students will receive 1500 hours of classroom and hands-on training in the construction trades, OSHA 10, work-based learning opportunities, job site visits and connections with construction employers throughout the region.

Regions Bank increased profit in 2nd quarter

Regions Financial Corp., the parent company of Chattanooga’s third-largest bank, increased second-quarter profit by 17% to the highest adjusted pre-net income on record.

Regions Bank said Friday it had net income of $558 million, or 59 cents per share. Total revenue of $1.7 billion was up 10 percent from a year earlier.

“Our strong second-quarter results reflect the strength of Regions’ business plan and the success of our team in executing it,” John Turner, Regions’ president and CEO, said in a statement Friday. “Investments across our business group are paying off.”

Twitter reported worse-than-expected losses

Twitter reported a quarterly loss on Friday and reported a decline in revenue, which Wall Street put off as the number of people using the platform grew.

The latest quarterly earnings figures offer a glimpse of how the social media platform has performed during a month-long negotiation with billionaire and Tesla CEO Elon Musk after he said he would buy the company and then changed his mind.

The company lost $270 million, or 8 cents a share, in the April-June period. Wall Street was expecting earnings per share of 14 cents, according to a FactSet poll.

Inflation dampened ad spending and was a huge drag on Twitter’s quarterly revenue, which fell 1% to $1.18 billion. The company cited “uncertainty” regarding the acquisition of masks.

The underlying numbers on Twitter, however, were good. The number of daily active users increased by 16.6% to 237.8 million compared to the same period a year ago.

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