Category Archives: Business News

Nutella maker Ferrero plans to buy century-old cereal maker WK Kellogg for $3.1 billion

Nutella maker Ferrero plans to buy century-old cereal maker WK Kellogg for $3.1 billion

Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old U.S. cereal company WK Kellogg in a deal valued at approximately $3.1 billion. The Ferrero Group said Thursday it will pay $23 for each Kellogg share. The transaction includes the manufacturing, marketing and distribution of WK Kellogg Co.’s portfolio of breakfast cereals across the United States, Canada and the Caribbean. Kellogg was founded in Battle Creek, Michigan, in 1906. It makes Fruit Loops, Special K, Frosted Flakes and Rice Krispies. The deal still needs the approval of WK Kellogg’s shareholders.… Continue Reading

Gains for tech stocks push Nasdaq to another record

Gains for tech stocks push Nasdaq to another record

A rally in big tech stocks led Wall Street to a higher close, lifting the Nasdaq to another all-time high. The S&P 500 rose 0.6% Wednesday. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite rose 0.9%. Nvidia became the first public company to top $4 trillion in value. Merck rose after announcing it would buy Verona Pharma, a U.K. company that focuses on respiratory diseases. Copper prices eased after spiking a day earlier as President Donald Trump said he would impose 50% tariffs on imports of the metal. Treasury yields slipped in the bond market.… Continue Reading

Wall Street is mixed amid Trump’s new tariff deadlines

Wall Street is mixed amid Trump’s new tariff deadlines

Wall Street ended mixed a day after a broad sell-off in response to the Trump administration setting new tariffs on more than a dozen nations. The S&P 500 slipped 0.1% Tuesday. The Dow Jones Industrial Average fell 0.4%, and the Nasdaq composite was little changed. The sluggish trading came a day after the S&P 500 had is biggest drop since June as President Donald Trump announced a 25% tax on imports from Japan and South Korea and new tariff rates on other nations scheduled to go into effect Aug. 1. The S&P 500 remains near the record it set last week.… Continue Reading

Wall Street falls as Trump pressures trading partners with new tariffs

Wall Street falls as Trump pressures trading partners with new tariffs

Stocks fell on Wall Street as the Trump administration stepped up pressure on trading partners to make deals before punishing tariffs imposed by the U.S. take effect. The S&P 500 lost 0.8% Monday. The Dow Jones Industrial Average gave back 0.9%, and the Nasdaq composite fell 0.9%. Tesla tumbled as the feud between CEO Elon Musk and President Donald Trump reignited over the weekend. Musk, once a top donor and ally of Trump, said he would form a third political party in protest over the Republican spending bill that passed last week.… Continue Reading

US stocks hit another record as Tesla and Nike rally

US stocks hit another record as Tesla and Nike rally

NEW YORK (AP) — U.S. stocks ticked higher to hit another record. The S&P 500 rose 0.5% Wednesday and set an all-time high for the third time in four days. The Dow Jones Industrial Average edged down by less than 0.1%, and the Nasdaq composite gained 0.9%. Tesla rallied following its latest update on deliveries, while Nike and other companies that import a lot from Vietnam rose after President Donald Trump announced a trade deal with the country. Shorter-term Treasury yields held steady ahead of a highly anticipated report coming on Thursday about the strength of the U.S job market.… Continue Reading

Tesla sales plunge again as anti-Musk boycott shows staying power and rivals pounce on the weakness

Tesla sales plunge again as anti-Musk boycott shows staying power and rivals pounce on the weakness

NEW YORK (AP) — Sales of Tesla electric cars fell sharply in the last three months as boycotts over Elon Musk’s political views continue to keep buyers away. Tesla is also facing stiff competition from other electric vehicle makers, especially in Europe where China’s BYD has taken a bite out of its market share. The 13% plunge in sales reported Wednesday adds to growing signs that Musk’s embrace of U.S. President Donald Trump and far-right politicians in Europe has had a deep and enduring impact to Tesla’s brand appeal. Sales fell to 384,122 in April through June, down from 443,956 in the same period last year.… Continue Reading

Wall Street is split as Tesla and tech drop while most other US stocks climb

Wall Street is split as Tesla and tech drop while most other US stocks climb

NEW YORK (AP) — A mixed day of trading left the U.S. stock market split, as Wall Street’s momentum slowed after setting record highs in each of the last two days. The S&P 500 slipped 0.1% Tuesday for its first loss in four days. The Dow Jones Industrial Average rose roughly 400 points, and the Nasdaq composite fell 0.8%. Tesla tugged on the market as the relationship between its CEO, Elon Musk, and President Donald Trump soured further. But most U.S. stocks rose. So did short-term Treasury yields following a better-than-expected report on U.S. job openings. Data on U.S. manufacturing was more mixed.… Continue Reading

Jabil plans to create nearly 1,200 jobs in North Carolina with manufacturing investment

Jabil plans to create nearly 1,200 jobs in North Carolina with manufacturing investment

SALISBURY, N.C. (AP) — The electronics company Jabil plans to create nearly 1,200 jobs in central North Carolina by building a new manufacturing plant. The company is investing $500 million toward a facility to support cloud computing and artificial intelligence data centers. Officials announced Monday that the facility will be in Rowan County, northeast of Charlotte. The project includes a $264 million capital investment and 1,181 jobs by the end of 2030. North Carolina competed with Florida for the project and offered over $21 million in incentives. Jabil already operates three facilities in the state, employing about 1,000 workers.… Continue Reading

US stocks add a bit more to their all-time high

US stocks add a bit more to their all-time high

NEW YORK (AP) — The U.S. stock market added to its record as Wall Street closed out a second straight winning month. The S&P 500 rose 0.5% Monday in its first trading after completing a stunning rebound from its springtime sell-off of roughly 20%. The Dow Jones Industrial Average added 0.6%, and the Nasdaq composite gained 0.5%. Oracle helped lead the way after saying it’s off to a strong start in its fiscal year. Banks were also solid in their first trading after the Federal Reserve said they’re financially strong enough to survive a downturn in the economy. Treasury yields eased in the bond market.… Continue Reading

US stocks climb to the brink of a record

US stocks climb to the brink of a record

NEW YORK (AP) — U.S. stocks are climbing toward the brink of another record. The S&P 500 rose 0.5% Thursday and is just 0.3% below its all-time high, which was set in February. The Dow Jones Industrial Average added 264 points, and the Nasdaq composite gained 0.5%. McCormick helped lead the market after the seller of cooking spices delivered a better-than-expected profit report. Treasury yields eased a bit in the bond market following a couple of better-than-expected reports on the U.S. economy, including on jobless claims and orders for long-lasting manufactured goods. Stock indexes were mixed across much of Europe and Asia.… Continue Reading

Recent News

Powered By SoCast