Author: Dow Jones
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Apple leads corporate bond bonanza
Apple on Wednesday joined U.S. companies ranging from Deere & Co. to Walt Disney in a recent sprint to issue new bonds, taking advantage of the steep decline in benchmark interest rates and a surge in investor demand. Apple launched its first bond deal since 2017 and is looking to raise $4 billion to $5…
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Fed’s Beige Book reports modest growth despite trade uncertainty
WASHINGTON • Most U.S. businesses remain optimistic about their prospects despite concerns about tariffs and trade policy, as the economy continues to grow, the Federal Reserve said Wednesday in its “beige book” report of anecdotes from business contacts. Here are highlights from the release: • Economic activity and employment appeared to grow at a modest…
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Credit unions go on bank-buying spree
WASHINGTON • Credit unions are buying small banks in record numbers, a trend that is prompting pushback from the banking industry. Credit unions have acquired 21 U.S. banks since 2018, according to S&P Global Market Intelligence, compared with 12 purchases in the prior five years. Bankers say the deals are proof credit unions are growing…
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Papa John’s taps Arby’s head as CEO
Papa John’s International Inc. has hired Arby’s President Rob Lynch as its chief executive, the pizza chain’s second change at the top in less than two years amid falling sales and controversies. Lynch will take over immediately from current head Steve Richie, the company said Tuesday. Lynch said he was eager to push the chain…
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Trump Meeting With Top Advisers to Consider Deal With Taliban
President Donald Trump was meeting with his top national security advisers Friday to consider a deal with the Taliban that could lead to the withdrawal of most U.S. forces from Afghanistan and the end of America’s longest military engagement abroad, U.S. officials said. Joining the president at his New Jersey golf resort are Vice President…
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U.S. Collected $63 Billion in Tariffs Through June
The tariff hikes approved by President Donald Trump have infuriated Beijing and escalated the U.S.-China trade war, but there has been at least one beneficiary: the U.S. Treasury. As of June 30, the U.S. government has collected $63 billion in tariffs over the preceding 12 months, according to the latest Treasury data. What’s more, the…
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Fed’s Evans Says Trade Headwinds Could Justify Additional Rate Cuts
CHICAGO • Federal Reserve officials would need to consider more stimulus aimed at boosting the economy if growing trade tensions lead to a sharper pullback, a Fed bank president said Wednesday. Chicago Fed President Charles Evans has said he thought the Fed would need to cut rates this year by at least one more quarter-percentage…
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Care.com founder to step down as CEO months after WSJ report
The founder and chief executive of Care.com announced her resignation on Tuesday, five months after a Wall Street Journal investigation showed that the online marketplace provided limited vetting of its caregivers, sometimes with tragic results. Care.com shares fell more than 20% on Tuesday as it reduced revenue and earnings expectations for the 2019 fiscal year.…
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Mondelez raises forecast as cookies, chocolate help
Cookies and milk-chocolate products helped to bolster Mondelez International’s sales in the second quarter, leading the snackmaker to push up its forecast for the year. Mondelez said Tuesday that Oreo cookies and its Cadbury Dairy Milk offerings posted gains in the quarter, as did Nutter Butter cookies, one of its smaller brands in the U.S.…
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Amazon pushes brands to be less boxy
Amazon is pressuring brands to make their packaging more efficient, which has prompted vendors to make costly changes to their businesses or face fines. Since last fall, Amazon has told companies they must make packaging for thousands of larger products more compact by Thursday. Eventually, Amazon wants every product it ships to meet similar standards,…