Business

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FDA warns maker of Sara Lee and Entenmann’s not to claim foods contain allergens when they don’t

Federal food safety regulators are warning Bimbo Bakeries USA to stop using misleading labels that say products contain potentially dangerous allergens when they don’t.
 
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Midwestern carbon dioxide pipeline project gets approval in Iowa, but still has a long way to go

 
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Microsoft breached antitrust rules by bundling Teams with office software, European Union says

 
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Consumer confidence in U.S. falls in June as Americans fret about near-term prospects

 
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The AP is setting up a sister organization seeking grants to support local and state news

 

STORIES UNDER 60 SECONDS

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Buy now, pay later companies must adhere to credit card standards
0:47
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IRS makes free tax return program permanent
0:34
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Let’s talk about Earned Wage Access
0:45
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How to talk about money with your significant other
0:55
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Inspired by the Met, the Debt Gala fundraises for medical debt
0:34
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Five no-buy rapid questions with Elysia Berman
0:36
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Domestic workers are often excluded from many federal workplace protections
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Topics

Financial Markets

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All eyes are on Nvidia’s stock, so what’s been going on?

 

  1. Stock market today: Nvidia rebounds, and it’s back to masking losses for the rest of Wall Street

  2. Nvidia is losing momentum in the stock market

  3. Stock market today: Wall Street coasts to the close of another winning week as Nvidia cools again

Personal Finance

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Your tax refund could be bigger this year. Here’s what to do with it

 

  1. Medicare and Social Security go-broke dates are pushed back in a ‘measure of good news’

  2. 140,000 people did their taxes with the free IRS direct file pilot. But program’s future is unclear

  3. How US changes to ‘noncompete’ agreements and overtime pay could affect workers

Economy

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World Bank boosts forecast: Strength of US economy will support global growth of 2.6% this year

 

  1. Biden’s team asks CEOs how to further boost the economy while Trump says business is on his side

  2. Japan’s economy is shrinking, although slightly less than previously thought

  3. US hiring and wage growth picked up last month in sign of sustained economic health

Tech

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GM brings in new CEO to steer troubled Cruise robotaxi service while Waymo ramps up in San Francisco

 

  1. AI image-generator startup Stability AI looks for reshoot with new CEO and investor group

  2. Amazon teams up with Megan Thee Stallion to promote its 10th Prime Day sales event

  3. NTSB chair says Norfolk Southern interfered with derailment probe after botching vent-and-burn call

More news

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Detroit is banning gas stations from locking customers inside, a year after a fatal shooting

The city of Detroit is taking steps to ban gas stations from locking people inside the store. It comes a year after a man was fatally shot during an argument with another customer.
 

How major US stock indexes fared Tuesday, 6/25/2024

A rebound for Nvidia propped up a weakened Wall Street and kept U.S. stock indexes close to their records.
 

Tax the super-rich, says a new report commissioned by Brazil for its G20 presidency

A global tax on the super-rich is proposed in a new report that Brazil commissioned for its current presidency of the leading 20 rich and developing nations.
 

North Macedonia announces $500 million project with investors to build country’s largest wind farm

North Macedonia’s government has announced a project with renewables investor Alcazar Energy Partners for the construction of the landlocked country’s biggest wind farm.
 
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Massachusetts Senate debates bill to expand adoption of renewable energy

The Massachusetts Senate is debating a bill aimed at expanding the adoption of renewable energy. The effort is a bid to help Massachusetts meet its climate goals, including reaching net zero greenhouse gas emissions by 2050.
 

US court says Smith & Wesson must comply with New Jersey subpoena in deceptive advertising probe

A U.S. appeals court says that Smith & Wesson must comply with a subpoena from New Jersey officials investigating whether the gun-maker engaged in any deceptive advertising.
 

Closing prices for crude oil, gold and other commodities

Benchmark U.S. crude oil for August delivery fell 80 cents to $80.83 per barrel Tuesday. Brent crude for August delivery fell $1 to $85.01 per barrel.
 
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Alex Meruelo backing out of ownership of Coyotes after land auction shelved, AP source says

Alex Meruelo is walking away from ownership of the Arizona Coyotes, putting hockey’s future in the desert further in doubt.
 
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Puerto Rico issues an island-wide heat advisory for the first time as power outages persist

Meteorologists have for the first time issued a heat advisory for the entire island of Puerto Rico as it struggles with chronic power outages.
 

Carnival, Enovix rise; Pool, SolarEdge fall, Tuesday, 6/25/2024

Stocks that traded heavily or had substantial price changes on Tuesday: Carnival, Enovix rise; Pool, SolarEdge fall.
 
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A co-founder of the embattled venture capital firm Fearless Fund has stepped down as operating chief

One of the co-founders of an Atlanta-based venture capital firm that supports women of color has stepped down as chief operating officer.
 

A nonprofit got jobs for disabled workers in California prisons. A union dispute could end them

A long-simmering dispute between California’s largest state employee union and a nonprofit organization that hires disabled workers is coming to a head this summer, and dozens of people could lose their jobs.
 
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U.S. sanctions ‘sprawling’ shadow banking network for supporting Iranian military

A group of 50 people and firms across across Hong Kong, the United Arab Emirates and the Marshall Islands that have been acting as a “sprawling shadow banking network” for Iran’s military have been hit with U.S. economic sanctions.
 
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Small Business Administration offers $30 million in grant funding to Women’s Business Centers

The Small Business Administration will offer $30 million in grant funding for Women’s Business Centers for a variety of projects, including funding to open a center in the U.S.
 
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Public funds for religious charter school would be unconstitutional, Oklahoma high court says

The Oklahoma Supreme Court has ruled that the approval of what would be the nation’s first state-funded Catholic charter school is unconstitutional.
 
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Charitable donations continue to decline, down 2.1% in 2023, according to a new Giving USA report

Charitable giving dropped 2.1% in 2023 after inflation, according to the most recent Giving USA report, the key findings of which were released Tuesday.
 
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Spain eliminates sales tax on olive oil to help consumers cope with skyrocketing prices

Spain’s government says it will temporarily eliminate the sales tax on olive oil to help cushion skyrocketing prices.
 
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Korean Air, Malaysia Airlines flights disrupted by pressurization problems

A Korean Air flight to Taiwan was forced to return to Incheon airport west of Seoul after a sudden depressurization on the plane, a Boeing 737 Max 8.
 
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Anti-tax protesters storm Kenya’s parliament, drawing police fire as president vows to quash unrest

Thousands of protesters stormed Kenya’s parliament Tuesday to protest tax proposals, burning part of the building, sending lawmakers fleeing and drawing fire from police.
 

A botulism outbreak in Russia leaves 1 dead, scores more hospitalized after eating readymade salads

Russian authorities say one person has died and scores more remain hospitalized in an outbreak of botulism spanning several regions.