Category Archives: World/National

A late push sends Wall Street near its records

A late push sends Wall Street near its records

Stocks closed higher on Wall Street after an afternoon push left major indexes just below their recent records. The S&P 500 rose 0.4% Tuesday after drifting between small gains and losses for much of the day. The Dow Jones Industrial Average added 0.3%, and the Nasdaq composite rose 0.4%. Boeing rose 3.5% after Korean Air announced a $50 billion deal with the company that includes buying more than 100 aircraft. Dish Network parent EchoStar surged 70.2% after AT&T said it will buy some of its wireless spectrum licenses in a $23 billion deal. Treasury yields held steady.… Continue Reading

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

Some FEMA staff call out Trump cuts in public letter of dissent

Some FEMA staff call out Trump cuts in public letter of dissent

More than 180 current and former FEMA employees have published a letter warning of potential disaster due to cuts in the agency. The letter coincides with the 20th anniversary of Hurricane Katrina, highlighting concerns about management and capacity at FEMA. It warns that current practices echo conditions the Post-Katrina Emergency Management Reform Act aimed to prevent. The letter criticizes policies like expenditure approval and reassignment of staff to ICE. It calls for FEMA to be an independent cabinet-level agency. Thirty-five signatories included their names, while 141 remained anonymous due to fear of suppression.… 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

Federal officials to take over inspections when troubled Boar’s Head plant reopens

Federal officials to take over inspections when troubled Boar’s Head plant reopens

Federal inspectors will assume direct oversight of a Boar’s Head deli meat plant when it reopens after an deadly listeria outbreak. The plant in Jarratt, Virginia, is set to reopen in the coming months. It will face at least 90 days of heightened monitoring and testing. That work will be overseen by federal Food Safety and Inspection Service officials, rather than state inspectors who operated previously on behalf of the agency. The change underscores the severity of problems at the troubled plant. Boar’s Head officials say they are cooperating with state and federal agencies.… Continue Reading

Federal officials to take over inspections when troubled Boar’s Head plant reopens

Federal officials to take over inspections when troubled Boar’s Head plant reopens

Federal inspectors will assume direct oversight of a Boar’s Head deli meat plant when it reopens after an deadly listeria outbreak. The plant in Jarratt, Virginia, is set to reopen in the coming months. It will face at least 90 days of heightened monitoring and testing. That work will be overseen by federal Food Safety and Inspection Service officials, rather than state inspectors who operated previously on behalf of the agency. The change underscores the severity of problems at the troubled plant. Boar’s Head officials say they are cooperating with state and federal agencies.… 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

Appeals court throws out massive civil fraud penalty against President Donald Trump

Appeals court throws out massive civil fraud penalty against President Donald Trump

NEW YORK (AP) — President Donald Trump is declaring victory now that an appeals court has thrown out the massive civil fraud penalty against him. But the court has upheld other punishments, such as banning Trump and his two eldest sons from serving in corporate leadership for a few years. A five-judge panel ruled Thursday in New York state’s lawsuit accusing the businessman-turned-politician of exaggerating his wealth. The decision in New York’s mid-level Appellate Division altered a verdict that stood to cost Trump more than $515 million and rock his real estate empire. The Republican president says the case and the verdict were political moves by Democrats. New York’s attorney general says the court affirmed the finding Trump was liable for fraud.… Continue Reading

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