Category Archives: Business News

Stocks pull back from their latest all-time highs on Wall Street

Stocks pull back from their latest all-time highs on Wall Street

Stocks lost ground on Wall Street a day after the market hit its latest all-time highs. The S&P 500 fell 0.6% Friday. The index ended August up 1.9%, its fourth straight month of gains. The Dow Jones Industrial Average fell 92 points, or 0.2%. The Nasdaq composite fell 1.2%. Treasury yields were mixed in the bond market. The government said prices mostly held steady last month. European markets were mostly lower and Asian markets closed mixed. U.S. markets will be closed on Monday for the Labor Day holiday.… Continue Reading

Cracker Barrel relents, says its old logo will return

Cracker Barrel relents, says its old logo will return

Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize. In a post on its website, Cracker Barrel said it will retain its old logo, which features an older man in overalls sitting next to a barrel and the words “Old Country Store.” The tempest over the logo began last week, when the company announced plans for a simplified design featuring only the company’s name. Lebanon, Tennessee-based Cracker Barrel made the change as part of a wider plan to modernize its restaurants and appeal to younger customers. But many fans protested the move.… Continue Reading

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

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

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