6 Most Important Things in Business Today

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Subaru, which has been successful in the United States recently, may have given incorrect gas mileage data for some of its cars. According to The Wall Street Journal:

The Japanese car company’s latest disclosure adds to a scandal that has damaged its domestic business but not its core U.S. market.

Opioid overdoses killed a record number of workers last year. According to The Wall Street Journal:

The number of U.S. deaths at work from unintentional drug and alcohol overdoses jumped more than 30% in 2016, according to new government data, showing that the nation’s struggle with a deadly opioid epidemic is migrating to the workplace.

The Bureau of Labor Statistics’ National Census of Fatal Occupational Injuries said Tuesday that 217 workers died on the job last year as a result of an unintentional overdose from the nonmedical use of drugs or alcohol, up from 165 in 2015. The number of accidental overdose deaths at work has nearly tripled since the BLS began compiling the data in 2011.

Toys “R” Us posted poor earnings for the last quarter. The company’s management said:

  • Net sales were $2,018 million, a decrease of $89 million compared to the prior year period. Excluding a $6 million negative impact from foreign currency translation, net sales declined by $83 million largely attributable to a decline in same store sales most notably in the baby category. Partially offsetting the decrease was an increase in consolidated e-commerce sales.
  • Consolidated same store sales decreased by 4.4% driven by a 7.0% decline domestically, offset by a 0.4% increase within International Ex. Canada, as a result of growth in Asia.

The value of bitcoin dropped sharply, again. According to Bloomberg:

Bitcoin was trading at $16,626.42 at 10:25 a.m. in Hong Kong, down about 15 percent from a record high on Monday. That’s the steepest decline since before futures were introduced on Dec. 10.

“A short-term correction was definitely on the cards,” said Thomas Glucksmann, Hong Kong-based head of marketing at cryptocurrency exchange Gatecoin Ltd. “I think we’ll see some recovery by the end of the week. To be honest, I only see this as the short-term volatility we were all expecting to see anyway.”

The legal arm of the European Union said that Uber should be regulated as if it were a taxi company. The decision is a blow to the ride-sharing service’s operations there. According to CNNMoney:

Europe’s top court has ruled that Uber should be regulated as a transportation company — and not a tech firm.

The decision by the European Court of Justice is a major setback for Uber, which had said that it should not be subjected to the same regulations as traditional taxi companies.

Uber argued that it should instead be treated as technology platform that connects drivers and riders.

Amazon.com Inc.’s (NASDAQ: AMZN) Prime service set a new record, with the help of Apple Inc. (NASDAQ: AAPL). According to the New York Post:

Amazon’s Prime Video app has hit the ground running in its first week on Apple TV.

The Seattle-based web giant’s popular streaming app — long available on rival boxes like Roku, Playstation and the Xbox — broke the record for most downloads of any tvOS app during the seven days it first became available, Apple and Amazon confirmed.

Apple’s embrace of Amazon signals an end to what was once a strained relationship between the two tech titans.