AAA Daily Fuel Gauge Report for Friday, 2/2/24
National Average Price for Regular Unleaded Current: $3.154; Month Ago: $3.104; Year Ago: $3.498. National Average Price for Diesel Current: $3.938; Month Ago: $3.977; Year Ago: $4.675.
https://gasprices.aaa.com/
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Beyond Meat Shrinks Name To ‘Beyond’ As Sales Slide, Layoffs Hit
With sales down 20% and layoffs hitting 6% of its workforce, Beyond Meat is acknowledging that its moment in the plant-based spotlight has faded — at least for now. The company, which is cutting about 44 jobs, says it needs “a fundamental reset for our brand and category,” according to president and CEO Ethan Brown.
To lead that reset, Beyond has tapped John Boken of consulting firm AlixPartners as interim chief transformation officer. It’s also leaning into a shorter name — “Beyond” — in a bid to shed some of the baggage around meat imitation.
“We believe it provides for reduced emphasis on facsimile,” Brown told investors on a webcast, referring to the “complicated frame” of animal protein replication. He said the streamlined name could also help “widen our aperture beyond animal protein replicates” and into broader consumer protein needs.
Oil Holds Gains Above $58 as U.S. Drillers Pause Rig Expansion
Futures were little changed in New York after gaining 2 percent last week. The number of U.S. rigs targeting oil remained unchanged at 747, Baker Hughes data showed Friday. A repair of the North Sea’s Forties Pipeline System is complete and pressure testing has started, operator Ineos Group said Monday. The halt of the line earlier this month sent prices surging. Oil is heading for a second yearly advance as the Organization of Petroleum Exporting Countries and its allies including Russia prolong supply curbs through the end of 2018. Iraq’s Oil Minister Jabbar Al-Luaibi said Monday that he’s optimistic prices will gain next year with global stockpiles falling and demand rising in China and India. Click Read More below for additional information.