Producer prices increased 0.5% in April compared to the previous month and 2.2% from a year earlier, according to the Labor Department. The 2.2% annual read on the produce price index was the highest in a year. Core inflation, which strips out food and energy prices, jumped 0.5% last month and 2.4% annually.

Annual revenue outlooks for US wholesale distributors decreased in MDM's May update, with expected growth slowing to 2.7% in 2024, down from an earlier 4.5% forecast in April. Seventeen of the 19 distribution sectors tracked moved downward, with computer equipment and software and beer, wine and liquor outlooks ticking upward by 0.4%. However, next year's revenues are expected to increase by 4.3% annually, up from 4.1% in the previous update.

Small business owners in the US were more confident in April, with the National Federation of Independent Business' Small Business Optimism Index rising 1.2 points to 89.7. The number of owners planning to increase prices dropped to its lowest point in 12 months, while labor shortages continued to pose a challenge, according to the report.

OpenAI released GPT-4o, a new version of ChatGPT that can process images, text and audio, and can be accessed for free, although the subscription service allows unlimited prompts and will offer newer features, such as an upcoming voice mode. A demonstration video shows voice mode in action, as GPT-4o is asked to identify the emotions felt by someone via their smartphone camera.

The US Coast Guard demolished part of the Francis Scott Key Bridge in Baltimore, Md., in a controlled explosion overnight following its collapse on Mar. 26 after a cargo vessel strike. The demolition was part of an operation to clear debris and allow the ship to return to the Port of Baltimore, which the incident has partially closed, disrupting supply chains.

Two-thirds of business-to-business marketers expect budget increases this year, with 9.1% of company revenue allocated for marketing, per this infographic from LinkedIn. Three tips for boosting B2B business growth are delivering valuable, relevant content on channels frequented by your audience, testing and optimizing content and using the right measurement tools to show how marketing is contributing to revenue.

A TalentLMS survey of US employees found 71% want to gain more skills, while 37% are concerned their existing skills may become obsolete. Most employees want employers to invest more in learning opportunities, according to the survey, which also found 78% say they're motivated to complete training.

New leaders can enjoy immediate success if they clearly communicate their vision, can adapt to change and use emotional intelligence to build relationships and empower their teams, writes Naphtali Hoff. "As a new leader, be prepared to pivot, iterate and embrace change as opportunities for growth," Hoff writes.

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