Sysco accuses four largest beef processors of price fixing
The nation’s largest food distributor has joined the other businesses accusing the four largest meat processors of working together to inflate beef prices.
Associated Press
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Indiana’s abortion laws may tighten even before Legislature acts
Lawyers for the American Civil Liberties Union of Indiana have conceded defeat in their fight to block two anti-abortion laws following the U.S. Supreme Court’s decision last month to end constitutional protection for abortion.
Wall Street expects inflation squeeze on 2Q earnings
Inflation tightened its grip on businesses and consumers during the second quarter and investors expect to see a dent in the latest round of corporate earnings.
Retailers scale back hiring as worry about slowdown grows
The changing mindset comes as companies confront a pullback in consumer spending, the prospect of an economic downturn and surging labor costs.
Dems seek more taxes from higher earners to protect Medicare solvency
Under the latest proposal, people earning more than $400,000 a year and couples making more than $500,000 would have to pay a 3.8% tax on their earnings from tax-advantaged businesses called pass throughs.
With U.S. dollar nearly equal to euro, impact is being felt
The U.S. Dollar Index, which measures the value of American money against six major foreign currencies, has jumped nearly 12% this year, to a two-decade high.
Higher gas prices hurt pockets, make tiny dent in emissions
High gasoline prices are a “double-edged sword” for the president because they hurt him politically even though they lead to fewer trips to the gas pump and lower emissions.
U.S. allows pharmacists to prescribe Pfizer’s COVID-19 pill
The announcement comes as COVID-19 cases, hospitalizations and deaths are rising again, although they remain near their lowest levels since the coronavirus outbreak began in 2020.
Juul, FDA suspend court case while e-cigarette ban on hold
The agreement comes one day after the FDA placed a hold on its initial order banning Juul’s products from the market, saying that Juul’s application warranted “additional review.”
Fed: Sharply higher rates might be needed to quell inflation
Federal Reserve officials are concerned that Americans are starting to expect high inflation to last longer than they had before—a sentiment that could embed an inflationary psychology and make it harder to slow price increases.
U.S. job openings slip, but employment landscape remains solid
U.S. employers advertised fewer jobs in May as the economy has shown signs of weakening, though the overall demand for workers remained strong.
How hotel satisfaction promises have led to more discontent
Some hospitality experts say that promise—a 100% refund if customers weren’t 100% happy—might’ve made things worse for both the customers and the hotels.
Next frontier for drones is letting them fly out of sight
Aviation authorities in the U.S. and elsewhere are preparing to relax some of the safeguards they imposed to regulate a boom in off-the-shelf consumer drones over the past decade.
Andretti calls team’s meltdown, hot tempers at Mid-Ohio ‘unacceptable’
Teammates Romain Grosjean and Alexander Rossi played bumper cars in a race for position that turned personal. Rossi also hit rookie teammate Devlin DeFrancesco. Grosjean hit Colton Herta, and IndyCar penalized both Rossi and Grosjean for avoidable contact.
Smithfield Foods settles pork price-fixing lawsuit for $42M
The lawsuit remains pending against other major pork producers, including Hormel, Tyson Foods, Seaboard Foods and Triumph Foods, and the Agri Stats database company they allegedly used to share confidential information.
Mexico leader to end daylight saving, keep ‘God’s clock’
Mexico’s president has submitted a bill to end the practice of changing clocks twice a year. The change would mean central Mexican time, which covers most of the country, could be permanently two hours behind the east coast of the United States.
Survey: Many won’t rely on virtual options after COVID
Close to half or more of U.S. adults say they are not likely to attend virtual activities, receive virtual health care, have groceries delivered or use curbside pickup after the coronavirus pandemic is over.
Companies could face hurdles covering abortion travel costs
Many companies have announced plans to offer travel benefits for abortions without the infrastructure in place to make them work.
Flight cancellations ease slightly as July 4 weekend ends
In the U.S., the rate of cancellations over the last two weeks is up 59% from the same period in 2019, before the pandemic, likely due to a combination of weather, staffing shortages and air-traffic issues.
Despite potential, Midwestern farms struggle to market fish
With global seafood consumption expected to increase by 100-170 billion pounds by 2030, the growing seafood trade deficit means more fish will need to be farm-raised, opening the door for Midwestern farmers to meet demand.