Cheddar Afternoon Business Report 10/5: Netflix, Facebook, Apple

Posted: Updated:
NEW YORK -

Netflix is raising prices by about 10 percent. The standard plan goes from $9.99 to $10.99 per month. The top-tier "premium" plan goes from $11.99 to $13.99. The basic plan is still just $7.99. Customers are expected to see the increase in November. New customers will already pay the higher prices. Netflix plans to spend billions on original content, which could be one factor contributing to the price hike.

Facebook is opening its 11th data center in in Henrico County, Virginia - population 300,000. It will cost nearly a $1 billion to build and run completely on renewable energy. The governor of Virginia said it will bring thousands of construction jobs and about 100 full-time positions.

Apple is issuing a software update to fix connectivity issues on its Apple Watch 3. It's apple's first watch with an ITE chip for cellular service, but some customers complained of a poor signal. Apple says the update will prevent the watch from trying to connect to WiFi networks instead of using cellphone data.

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