A private lawsuit filed in California on Thursday seeks to stop Kroger Co.’s planned $25 billion purchase of rival Albertsons Companies Inc., a deal that state attorneys general, consumer groups and some U.S. lawmakers have questioned as harmful to competition in the grocery market. The lawsuit was filed on behalf of 25 consumers in states…
Grocery Consumers Sue to Block Kroger’s $25 Billion Buy of Albertsons
Jury: Musk Didn’t Defraud Investors With 2018 Tesla Tweets
February 3, 2023
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SAN FRANCISCO—A jury on Friday decided Elon Musk didn’t defraud investors with his 2018 tweets about electric automaker Tesla in a proposed deal that quickly unraveled and raised questions about whether the billionaire had misled investors. The nine-member jury reached its verdict after less that two hours of deliberation following a three-week trial. It represents…
Sen. Manchin Criticizes Biden Administration’s Pushing of ESG Rules to Phase Out Fossil Fuels
Sen. Joe Manchin (D.-W.Va.) on Thursday delivered a sharp rebuke to a new Department of Labor (DOL) rule that he and GOP lawmakers believe encourages the investment of retirement money not according to traditional criteria of maximizing profits but instead in accordance with Environmental, Social, and Governance (ESG) standards. Speaking on a segment of “America’s…
Facebook, Instagram Threaten to Restrict or Ban Project Veritas
Facebook and Instagram have threatened to restrict or ban Project Veritas from their platforms, both owned by Meta, after a journalist confronted a senior YouTube official about the removal of a video about Pfizer’s COVID-19 vaccines. On Friday, the nonprofit journalism organization Project Veritas published footage that appears to show one of its reporters confronting YouTube’s…
Strong Jobs Report Revives Fears of Inflation and More Aggressive Fed
February 3, 2023
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Positive jobs reports can be bad news for the market. The latest strong jobs report, for example, revived Wall Street fears of continued inflation and a more aggressive Federal Reserve as markets were volatile on the news. Stocks opened lower following the jobs report from the U.S. Bureau of Labor Statistics, with a brief rally…
Sen. Warner Expresses Grave Concerns Over TikTok’s National Security Risk
February 3, 2023
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TikTok, the popular video-sharing app owned by the Chinese firm ByteDance, whose users are now estimated to exceed 1.5 billion worldwide, has come under harsh criticism from Sen. Mark Warner (D-Va.), chair of the Senate Intelligence Committee, who said during a Feb. 2 interview with Fox Business that his “patience is running thin” over the…
FDA Issues Alert, Announces Recall of Common Thyroid Medication
The U.S. Food and Drug Administration (FDA) on Thursday announced the recall of a thyroid medication after it was found that lots of the drug may be “subpotent.” IBSA Pharma Inc. confirmed it is recalling Tirosint-SOL, or levothyroxine sodium, a medication used to treat an underactive thyroid gland. It said that the “voluntary recall has…
US Layoffs Reach Two-Year High as Big Tech Cut Thousands of Jobs in January
February 3, 2023
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American companies announced last month the largest number of layoffs since September 2020, after tech firms cut positions at the second-highest pace on record as they prepare for a potential recession. The layoffs included 102,943 workers in January, more than twice the amount in December and up 440 percent from the same month in 2022, according…
Wall Street Tumbles at Open as Jobs Data Fans Higher Rate Worries
February 3, 2023
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Wall Street’s main indexes opened lower on Friday after data showed the economy added jobs at a rapid pace last month, feeding into fears that the Federal Reserve could keep interest rates higher for longer in its fight against inflation. The Dow Jones Industrial Average fell 127.64 points, or 0.37 percent, at the open to…
Conagra Recalls 2.6 Million Pounds of Meat Products Following Contamination Risk
American consumer packaged goods company Conagra Brands is recalling millions of pounds of meat products after U.S. authorities deemed them a potential health risk due to likely contamination. Chicago-based Conagra is recalling roughly 2,581,816 pounds of canned meat and poultry products, the U.S. Department of Agriculture’s Food Safety Inspection Service (FSIS) announced in a recall…
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