Bud Light sales have been hit the hardest in North and South Carolina as the beer brand has dealt with a multi-month fallout after it promoted transgender influencer Dylan Mulvaney, according to a report from data company, Union. Between April and June 30, Bud Light’s sales shared fell by 12.5 percent, or 6.9 points, from 19.4…
ANALYSIS: How to Improve Housing Affordability by Motivating Developers
Alleviating Canada’s housing affordability crisis revolves around increasing the supply of homes. But with Ontario’s environment of rising interest rates, labour shortages, high input costs, and even inter-provincial migration out of the bigger cities, analysts are suggesting solutions range from incentives for developers and builders to re-thinking land-use policies. Ontario has a goal of building…
Nasdaq, S&P 500 Slide at Open as Tesla, Netflix Drag
The tech-heavy Nasdaq and the S&P 500 fell on Thursday, dragged down by Tesla over price cut concerns, while Netflix slid after its quarterly revenue missed analysts’ estimates. The Dow Jones Industrial Average rose 30.77 points, or 0.09 percent, at the open to 35,091.98. The S&P 500 opened lower by 11.34 points, or 0.25 percent,…
Chinese E-Retailer Temu Sues Fast-Fashion Giant Shein Over Alleged ‘Anticompetitive Scheme’
Chinese e-retailer Temu has filed a lawsuit against fellow Chinese fast-fashion giant Shein, accusing the latter of engaging in an “anticompetitive scheme” aimed at stymieing its business. The lawsuit (pdf) was filed in Massachusetts court on July 14 and accuses Shein of engaging in a “campaign of threats, intimidation, false assertions of infringement, and attempts to impose…
Musk Open to Price Cuts as Tesla Bets on Self-Driving Future
Elon Musk is prioritizing sales over profits in hopes that Tesla’s full self-driving software would eventually burnish margins, a plan that could deepen an already fierce price war in the electric-vehicle industry. Shares of the automaker fell 3 percent before the bell on Thursday after Mr. Musk signaled there might not be any let-up in…
Stocks Shuffle Sideways, China Drips in More Support
July 20, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World share markets shuffled sideways on Thursday as investors looked ahead to a clutch of key central bank meetings next week and disappointing earnings from Netflix and Tesla pushed Wall Street futures lower. There had been pockets of gains in Asia and in commodities markets overnight after China pledged some additional support for its economy…
Lab Grown Artificial ‘Meat’ May Actually Be Worse for the Environment
July 20, 2023
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Business & MarketsCompaniesEnvironmentGOOD meatlab-grown meatPolicies & ImpactsScienceScience NewsUC DavisUSUS News
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Lab grown “meat” may be potentially worse for the environment than actual beef and may have an even larger carbon footprint, according to a recent study. This follows the USDA’s approval of the FDA’s decision on June 21 to greenlight the sale of lab-grown meat to American consumers. GOOD Meat, a company that grows cell-based meat…
ANALYSIS: Courts, Lawmakers Struggle to Restore Americans’ Fourth Amendment Rights
July 19, 2023
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ACLUBank Secrecy ActBusiness & MarketsCompaniesconstitutional rightsFeatured TopicsFourth AmendmentJudiciaryMedia & Big TechSupreme CourtUS
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News Analysis In 2018, the U.S. Supreme Court handed down a landmark decision that police officers had acted illegally in collecting months of cell phone data from a private company, without a warrant, to track the movements of a robbery suspect. The Court majority opinion stated that “in light of the deeply revealing nature of…
J&J Must Pay $18.8 Million to California Cancer Patient in Baby Powder Suit
Johnson & Johnson’s must pay $18.8 million to a California man who said he developed cancer from exposure to its baby powder, a jury decided on Tuesday, a setback for the company as it seeks to settle thousands of similar cases over its talc-based products in U.S. bankruptcy court. The jury ruled in favor of…
US Venture Capital Firms Are Supporting China’s Military: House Panel
July 19, 2023
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Business & MarketsCCPChinaChina NewsCompaniesFinance & Business TiesInternational RelationsmilitaryNational SecurityPoliticsSpecial TopicsTech CompetitionThreat from Communist ChinaUSUS NewsUS-China relationsventure capital
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Leadership from the House Select Committee on the Chinese Communist Party (CCP) is launching investigations into several U.S. companies that it claims are funding China’s development of artificial intelligence (AI) and military modernization. Select Committee Chairman Mike Gallagher (R-Wis.) and Ranking Member Raja Krishnamoorthi (D-Ill.) sent letters to the leaders of four American venture capital…
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