The United Auto Workers (UAW) union has filed federal unfair labor practice charges against Stellantis, accusing the company of violating contract terms and attempting to relocate production of the Dodge Durango out of the U.S. UAW President Shawn Fain criticized Stellantis for planning to backtrack on commitments made in their 2023 contract, which included reopening an assembly plant in Belvidere, Illinois, and building the Durango … Continue reading UAW union files unfair labor charges against Stellantis, accuses automaker of violating contract

Mortgage rates have dropped to their lowest in over a year and a half, with the average 30-year fixed mortgage rate falling to 6.20% from 6.35% two weeks ago, according to Freddie Mac. Despite this decline, high home prices and low inventory are keeping many potential buyers and sellers out of the market. The average rate on a 15-year fixed mortgage also decreased to 5.27%, … Continue reading Mortgage rates fall to lowest level in over 18 months

The Campbell Soup Company, founded in 1869 and known for its iconic soup cans, will drop “Soup” from its name and become The Campbell’s Company. This change reflects the company’s new strategy and mission, aiming to encompass its broader portfolio beyond just soups. With net sales of $9.6 billion last year, Campbell’s is also following recent trends of rebranding, similar to Twitter’s transition to X … Continue reading After more than a century, the Campbell’s company drops ‘soup’ from its name

Discount grocery chain Aldi will hire 13,000 additional workers for the holiday season, increasing the average hourly wage to $23. New hires, working in stores and warehouses, will start at $18 to $23 per hour depending on the role. Aldi, which operates over 2,000 stores across 36 states with a current workforce of more than 49,000, offers health insurance, paid time off, flexible scheduling, and … Continue reading Major grocery chain hiring 13,000 workers, raising starting pay to up to $23 per hour

Milo’s Poultry Farms LLC is recalling all eggs branded “Milo’s Poultry Farms” and “Tony’s Fresh Market” due to a salmonella outbreak. The recall follows 65 reported illnesses and 24 hospitalizations across nine states, though no deaths have been reported. The FDA linked the outbreak to positive salmonella tests in environmental samples from the farm. Affected eggs were sold in Michigan, Wisconsin, Illinois, and other states, … Continue reading Egg brand recalled after salmonella outbreak sickens dozens of consumers in nine states

Big Lots, facing bankruptcy under Chapter 11, has secured $707.5 million to support its operations and is selling its business to private equity firm Nexus Capital. The retailer, which has assets and liabilities between $1 billion and $10 billion, cited pandemic-related issues and macroeconomic factors like high inflation for its troubles. It has begun closing stores and plans further closures as part of the bankruptcy … Continue reading Big Lots files for bankruptcy, will close some stores amid sale to investment firm

Norfolk Southern is investigating CEO Alan Shaw for possible misconduct related to behavior that may violate the company’s ethics code. The board has hired a law firm for an independent probe, which reportedly involves an alleged workplace relationship. The investigation is in its early stages. Shaw, who became CEO in May 2022, faced prior scrutiny over his handling of a major train derailment in East … Continue reading Norfolk Southern investigates possible misconduct by CEO

Stellantis is recalling about 1.5 million Ram pickup trucks from the 2019-2024 model years due to a software glitch that can disable the electronic stability control (ESC) system. The ESC, which helps maintain vehicle control during skidding, might malfunction because of an issue with the anti-lock brake software. While the brakes will still function, the recall is prompted by U.S. regulations requiring ESC to work … Continue reading Over one million Ram pickup trucks recalled due to software issue

Boeing and its machinists’ union, representing about 33,000 production employees, have reached a tentative contract deal just days before a planned strike. The agreement includes a 25% wage increase over the contract’s duration, improved retirement contributions, lower health insurance costs, and more time off. The union’s members will vote on the proposal, and a strike could begin if rejected. The deal, which came after 16 … Continue reading Boeing reaches tentative deal with its production workers in hopes to avoid strike

Walt Ehmer, the president and CEO of Waffle House and a trustee for the Atlanta Police Foundation, has died at 58 after a long illness. Ehmer, who joined Waffle House in 1992, became president in 2002 and later took on the roles of CEO and chairman. He was also active in various organizations, including the Georgia Tech Alumni Association, the Associated Press has reported. Mayor … Continue reading Waffle House CEO Walt Ehmer has died at age 58

LL Flooring, formerly Lumber Liquidators, has announced it will go out of business after 30 years, following a failed search for a buyer and a Chapter 11 bankruptcy filing. The Richmond, Virginia-based retailer, which operated 442 stores, will close all locations after negotiations with potential bidders did not succeed. The company began shutting 94 stores last month and will now wind down operations, with closing … Continue reading LL Flooring, formerly Lumber Liquidators, closing all of its stores

Seven & i Holdings has rejected Alimentation Couche-Tard’s takeover offer, stating it is not in the best interest of its shareholders. Couche-Tard proposed acquiring Seven & i for $14.86 per share, valuing the company at $38.55 billion. Seven & i’s special committee criticized the offer as undervaluing the company and opportunistic, particularly given the company’s ongoing restructuring plans and potential regulatory challenges in the U.S, … Continue reading 7-Eleven’s parent company rejects $38.6 billion takeover bid, says offer ‘grossly undervalues’ company

Federal Reserve Governor Christopher Waller on Friday supported an interest rate cut at the upcoming Fed meeting, citing progress on inflation and a moderating labor market. Waller indicated he is open to a substantial reduction if necessary and suggested that a series of cuts might follow. His comments came after a weaker-than-expected jobs report, which showed job growth of 142,000, below forecasts. Waller emphasized that … Continue reading Fed Governor Waller backs interest rate cut at September meeting, open to larger move

Volkswagen is facing a potential conflict with trade unions as it contemplates its first-ever factory closures in Germany after nearly 90 years. The company will outline its plans to 18,000 workers in Wolfsburg on Wednesday, with possible closures in Osnabrueck and Dresden. Volkswagen is also ending its 30-year employment protection agreement to address competitiveness challenges and adapt to a tougher economic environment and new market … Continue reading Volkswagen braces for showdown with unions after warning of possible German plant closures

Bitcoin’s price dropped 10% from $64,190 to $57,800 over 10 days ending September 3, despite the S&P 500 nearing its all-time high and gold approaching its peak. The decline is attributed to recession concerns and shifting focus to U.S. monetary policy. Bitcoin’s future bullish outlook depends on anticipated Federal Reserve rate cuts. In addition, the 2-year Treasury yield fell, indicating lower returns on safe assets … Continue reading Bitcoin dips to $57,000 level and crypto stocks tumble to begin September trading

The U.S. Justice Department has escalated its investigation into Nvidia Corp. by issuing subpoenas to the chipmaker and other companies, seeking evidence of potential antitrust violations. The DOJ is examining whether Nvidia’s practices, such as making it difficult to switch suppliers and penalizing non-exclusive buyers, breach antitrust laws. This move follows previous inquiries and signals a step closer to formal charges. Nvidia’s stock, which has … Continue reading Nvidia Gets DOJ Subpoena in Escalating Antitrust Probe

Costco has raised its membership fees for the first time in seven years, effective Sunday. Annual fees for “Gold Star” and business memberships have increased from $60 to $65, while executive memberships have risen from $120 to $130. The price hike affects around 52 million memberships. Costco last adjusted fees in June 2017. The membership provides various perks, including discounts and rewards, Fox News has … Continue reading Costco’s first membership fee increase in 7 years now in effect

Over 10,000 hotel workers at 24 hotels from Boston to Hawaii went on strike early Sunday morning, disrupting travel during the busy Labor Day weekend. The workers, represented by UNITE HERE, are striking for better pay, improved working conditions, and the reinstatement of daily room cleaning, which many hotels eliminated during the pandemic. Although hotels remain open, services are limited due to reduced staffing. The … Continue reading More than 10,000 US hotel workers strike during Labor Day weekend

Dollar General’s shares fell 25% after it revised its full-year sales and profit forecasts downward, indicating financial strain among its lower-income customers. The retailer now expects same-store sales to rise by 1.0% to 1.6% and earnings per share to be between $5.50 and $6.20, lower than previous estimates. In its second fiscal quarter, Dollar General reported earnings of $1.70 per share on revenue of $10.21 … Continue reading Dollar General shares crater 25% as retailer cuts outlook

Ford is revising its diversity and inclusion policies amid shifting legal and political pressures. CEO Jim Farley announced changes, including refocusing employee resource groups and ending participation in external culture surveys by the Human Rights Campaign, which previously recognized Ford for LGBTQ+ equality. The move follows pressure from right-wing activist Robby Starbuck and aligns with broader trends among companies adjusting or scaling back their DEI … Continue reading Ford becomes the latest company to scale back its diversity and inclusion policies

Inspectors found numerous violations at Boar’s Head’s Jarratt, Virginia plant, which has been linked to a nationwide deli meat recall due to a listeria outbreak. Violations included mold, mildew, and insect infestations throughout the facility. The outbreak has resulted in 57 hospitalizations and at least nine deaths across 18 states. The USDA’s Food Safety and Inspection Service (FSIS) has suspended inspections at the plant, which … Continue reading Bugs, mold and mildew found in Boar’s Head plant linked to deadly listeria outbreak

Lego is on track to replace all oil-based plastics in its bricks with renewable materials by 2032, despite a significant increase in manufacturing costs. The switch to certified renewable resin, which is 70% more expensive than traditional plastics, reflects Lego’s commitment to sustainability. However, the company plans to absorb these costs without raising prices for customers. Over the past eight years, Lego has tested over … Continue reading Legos switching to more expensive renewable plastic for bricks

Warren Buffett’s Berkshire Hathaway reached a $1 trillion market capitalization, becoming the first non-technology company in the U.S. to achieve this milestone. Shares of the conglomerate, which owns businesses like BNSF Railway, Geico, and Dairy Queen, have surged over 28% in 2024, outperforming the S&P 500. The achievement highlights Berkshire’s financial strength, despite its focus on old-economy businesses, and comes just before Buffett’s 94th birthday. … Continue reading Berkshire Hathaway hits $1 trillion market value

McDonald’s is launching its biggest burger yet, the Big Arch, in response to high customer demand for heartier, flavorful, and affordable options. Initially tested in select countries, the Big Arch is now available in places like Canada and Portugal. The burger features two quarter-pound beef patties, three slices of cheese, crispy onions, pickles, lettuce, and a new tangy sauce. Priced at about $12.59 CAD in … Continue reading McDonald’s launches its biggest burger ever

The Federal Trade Commission (FTC) has begun a trial to block Kroger’s $25 billion merger with Albertsons, arguing that it would reduce competition and harm consumers in the grocery industry. Despite Kroger’s promises to lower prices and divest nearly 600 stores to C&S Wholesale Grocers, the FTC and several states have filed lawsuits, claiming the merger would lead to higher grocery prices and weaken union … Continue reading FTC Challenges Kroger Merger