Category Archives: Business News

Cracker Barrel says it “could’ve done a better job” with release of new logo that angered some fans

Cracker Barrel says it “could’ve done a better job” with release of new logo that angered some fans

Cracker Barrel is sticking with its new logo. But the chain is also apologizing to fans who were angered when the change was announced last week. Cracker Barrel said Monday that it could have done a better job sharing the company’s reasons for the new logo. It also emphasized that many things won’t change, like the rocking chairs on its front porches. Cracker Barrel took heat on social media last week when it announced a simplified logo featuring only the chain’s name. Gone was the picture of an older man in overalls leaning against a barrel. The words “Old Country Store” were also removed.… Continue Reading

Dr Pepper buys Peet’s for $18 billion and will split into separate coffee and cold drink sellers

Dr Pepper buys Peet’s for $18 billion and will split into separate coffee and cold drink sellers

NEW YORK (AP) — Keurig Dr Pepper says it will buy Peet’s Coffee owner JDE Peet’s in an $18 billion (15.7 billion euro) deal. When the acquisition is complete, the company plans to split into two separate companies, one focused on coffee and the other focused on beverages including Dr Pepper, Canada Dry, 7Up and energy drinks. The coffee business will have about $16 billion in combined sales and the beverage business about $11 billion. In addition to Peet’s, Amsterdam-based JDE Peet’s brands include L’OR, Jacobs, Douwe Egberts, Kenco, Pilao, OldTown, Super and Moccona.… Continue Reading

Fed Chair Powell faces fresh challenges to Fed independence amid potential rate cuts

Fed Chair Powell faces fresh challenges to Fed independence amid potential rate cuts

WASHINGTON (AP) — Now that Federal Reserve Chair Jerome Powell has signaled that the central bank could soon cut its key interest rate, he faces a new challenge: how to do it without seeming to cave to the White House’s demands. For months, Powell has largely ignored President Donald Trump’s relentless hectoring that he reduce borrowing costs. Yet on Friday, in a highly-anticipated speech, Powell suggested that the Fed could take such a step as soon as its next meeting in September. It will be a fraught decision for the Fed, which must weigh it against persistent inflation that remains a problem and an economy that could also improve in the second half of this year. Both trends, if they occur, could make a cut look premature.… Continue Reading

Powell signals Fed may cut rates soon even as inflation risks remain

Powell signals Fed may cut rates soon even as inflation risks remain

JACKSON HOLE, Wyo. (AP) — Federal Reserve Chair Jerome Powell on Friday opened the door ever so slightly to lowering a key interest rate in the coming months but gave no hint on the timing of a move and suggested the central bank will proceed cautiously as it continues to evaluate the impact of tariffs and other policies on the economy. In a high-profile speech closely watched at the White House and on Wall Street, Powell said that there are risks of both rising unemployment and stubbornly higher inflation. Yet he suggested that with hiring sluggish, the job market could weaken further.… Continue Reading

Tariffs aren’t keeping Walmart from attracting shoppers and outpacing Target

Tariffs aren’t keeping Walmart from attracting shoppers and outpacing Target

NEW YORK (AP) — Walmart is showing it can keep pulling in shoppers and outpacing rivals like Target in an uncertain economic environment. and tariff concerns to deliver solid second-quarter financial results Thursday, showing it keeps pulling in shoppers and outpacing peers like Target. The nation’s largest retailer delivered solid second-quarter financial results on Thursday. It reported a 4.6% quarterly increase in comparable sales, or those coming from established stores and online channels. Company executives say Walmart is attracting customers with fast deliveries, grocery discounts and trendier clothes. The earnings of the Bentonville, Arkansas, company differed notably from those of Target, which on Wednesday reported another quarter of comparable sales declines.… Continue Reading

Wall Street steadies after Nvidia, Palantir and other AI stars trim their losses

Wall Street steadies after Nvidia, Palantir and other AI stars trim their losses

NEW YORK (AP) — U.S. stock indexes ended mixed after Nvidia, Palantir and other superstar stocks pared most of their steep losses from the morning. The S&P 500 dipped 0.2% Wednesday after trimming a loss that reached 1.1% earlier in the day. The Dow Jones Industrial Average added 16 points, and the Nasdaq composite fell 0.7%. The day’s action again centered around stocks caught up in the mania around artificial-intelligence technology. These stocks are facing criticism that their prices shot too high, too fast and became too expensive. Several big U.S. retailers including Target turned in mixed financial results. Treasury yields eased.… Continue Reading

Wall Street steadies after Nvidia, Palantir and other AI stars trim their losses

Wall Street steadies after Nvidia, Palantir and other AI stars trim their losses

NEW YORK (AP) — U.S. stock indexes ended mixed after Nvidia, Palantir and other superstar stocks pared most of their steep losses from the morning. The S&P 500 dipped 0.2% Wednesday after trimming a loss that reached 1.1% earlier in the day. The Dow Jones Industrial Average added 16 points, and the Nasdaq composite fell 0.7%. The day’s action again centered around stocks caught up in the mania around artificial-intelligence technology. These stocks are facing criticism that their prices shot too high, too fast and became too expensive. Several big U.S. retailers including Target turned in mixed financial results. Treasury yields eased.… Continue Reading

Palantir, Nvidia and other AI stars dim as Wall Street pulls further from its records

Palantir, Nvidia and other AI stars dim as Wall Street pulls further from its records

NEW YORK (AP) — Wall Street is edging further from its records. The S&P 500 fell 0.3% Tuesday and is on track for a third straight modest loss after setting its all-time high last week. The Dow Jones Industrial Average added 86 points, and the Nasdaq composite was down 1%. Drops for Palantir Technologies, Nvidia and other stars bid up because of the mania around artificial-intelligence technology led the declines. Home Depot helped lift the Dow after standing by its forecast for profit and revenue this year. Treasury yields fell in the bond market on expectations for coming cuts for interest rates.… Continue Reading

Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady

Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady

NEW YORK (AP) — Most stocks are falling on Wall Street following a disappointing update on inflation. But gains for Amazon and other influential Big Tech companies are helping to mask the losses on Thursday, and the S&P 500 rose 0.1% even though three out of every four stocks within the index fell. The Dow Jones Industrial Average dipped 79 points, and the Nasdaq composite added 0.2% to its own record. The hotter-than-expected inflation report forced traders to second guess the widespread consensus that the Federal Reserve will deliver relief next month by cutting interest rates. Treasury yields rose.… Continue Reading

Wall Street ticks higher after a rally wrapped around the world

Wall Street ticks higher after a rally wrapped around the world

NEW YORK (AP) — U.S. stocks are drifting around their record levels after a rally spurred by hopes for lower U.S. interest rates wrapped around the world. The S&P 500 rose 0.1% Wednesday, coming off its latest all-time high. The Dow Jones Industrial Average climbed 325 points, while the Nasdaq composite was flat after setting a record the day before. Treasury yields eased, as expectations reached a virtual consensus that the Federal Reserve will cut its main interest rates for the first time this year at its next meeting in September. Stocks leaped by more than 1% in several Asian markets, while European indexes rose more modestly.… Continue Reading

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