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Planters nuts sold in 5 states recalled due to listeria fears 2024-05-06 18:56:00+00:00 - USDA: 96% test kitchen participants failed to wash hands properly USDA: 96% test kitchen participants failed to wash hands properly 02:05 Hormel Foods is recalling two Planters products — peanuts and mixed nuts — shipped to Dollar Tree and Publix warehouses in five states because they may be tainted with listeria. Produced at one of Hormel's facilities in April, the two products involved in the recall include 4-ounce packages of Planters Honey Roasted Peanuts and 8.75-ounce cans of Planters Delux Lightly Salted Mixed Nuts, the Austin, Minnesota-based food company announced Friday in a notice posted by the Food and Drug Administration. Listeria is an organism that can cause serious and sometimes fatal infections in the young, frail or elderly. Healthy people may suffer symptoms such as high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea, Hormel noted. The recalled products were shipped to Dollar Tree distribution centers in Georgia and South Carolina, and Publix distribution warehouses in Alabama, Florida, Georgia and North Carolina, the company said. Image of recalled PLANTERS® Honey Roasted Peanuts. Hormel Foods The recalled peanuts have a "Best if used by" date of April 11, 2025, and a package UPC code of 2900002097. The recalled mixed nuts have a "Best if used by" date of April 5, 2026, and a PPC code of 2900001621 on the side of the can. Image of recalled PLANTERS® Deluxe Lightly Salted Mixed Nuts. Hormel Foods People who purchased the recalled products should discard or return it to the store where they purchased it for an exchange. Hormel customer service can be reached through email here, via chat here or at at 1-800-523-4635, Monday-Friday, 8 a.m. – 11 a.m. and 2 p.m. – 4 p.m. Central Time, excluding holidays.
Call it Cognac diplomacy. France offered China’s Xi a special drink, in a wink at their trade spat 2024-05-06 18:47:31+00:00 - 4 of 4 | Chinese President Xi Jinping, second left, presents to French President Emmanuel Macron gifts laid out on the table, as their wives China’s Peng Liyuan, left, and the French President’s wife Brigitte Macron look on during a gifts exchange at the Elysee Palace in Paris, Monday, May 6, 2024. China’s President Xi Jinping is in France for a two-day state visit that is expected to focus both on trade disputes and diplomatic efforts to convince Beijing to use its influence to move Russia toward ending the war in Ukraine. (Ludovic Marin, Pool via AP)
Redfin agrees to pay $9.25 million to settle real estate broker commission lawsuits 2024-05-06 18:42:03+00:00 - Redfin has agreed to pay $9.25 million to settle federal lawsuits that claim U.S. homeowners were saddled with artificially inflated broker commissions when they sold their home as a result of longstanding real estate industry practices. The online brokerage and real estate services company disclosed the proposed settlement Monday in a regulatory filing with the Securities and Exchange Commission. The settlement, which Redfin agreed to Friday, would resolve pending class action lawsuits filed in federal court in the Western District of Missouri, and also shield the company, its subsidiaries and agents from similar cases around the country, according to the filing. “Resolving this litigation now and removing uncertainty is in the best interest of the company, our employees, and our investors,” the company said in a statement Monday. Seattle-based Redfin noted that it doesn’t expect the settlement, which must be approved by the court, to have a material impact on its future operations, adding it expects to record a $9.25 million pre-tax charge for the quarter ended March 31. Shares in Redfin were up 3.7% in afternoon trading Monday. Redfin is the latest big brokerage to agree to settlement terms in order to put an end to lawsuits related to the real estate industry’s broker compensation structure, following Re/Max, Keller Williams Realty, Compass and Anywhere Real Estate. Last month, HomeServices of America, which is owned by Warren Buffett’s Berkshire Hathaway, agreed to pay $250 million to settle the lawsuits. And in March, the National Association of Realtors agreed to pay $418 million. All told, the real estate industry has now agreed to pay more than $950 million to make the lawsuits go away. The lawsuits′ central claim is that the country’s biggest real estate brokerages and the NAR violated antitrust laws by engaging in business practices that required home sellers to pay the fees for the broker representing the buyer. Attorneys representing home sellers in multiple states argued that homeowners who listed a property for sale on real estate industry databases were required to include a compensation offer for an agent representing a buyer. And that not including such “cooperative compensation” offers might lead a buyer’s agent to steer their client away from any seller’s listing that didn’t include such an offer. In October, a federal jury in Missouri ordered the National Association of Realtors and several other large real estate brokerages to pay nearly $1.8 billion in damages. The defendants were facing potentially having to pay more than $5 billion, if treble damages were awarded. The verdict in that case, which was filed in 2019 on behalf of 500,000 home sellers in Missouri and elsewhere, led to multiple similar lawsuits being filed against the real estate brokerage industry.
About 2,000 homes in Hastings on fifth day with no water supply 2024-05-06 18:42:00+00:00 - About 2,000 homes in Hastings are into their fifth day without water and will probably have to wait until at least Tuesday for their taps to be flowing again. On Thursday, 32,500 properties in Hastings and St Leonards-on-Sea were left without water after a mains pipe burst. On Monday Southern Water said about 25,500 of the homes affected had had their water supply restored. It said a “significant number” of the remaining 7,000 affected properties were expected to be back on supply by the end of the day but about 2,000 of them, in the St Helen’s and St Helen’s Wood areas, were “unlikely to see supply restored until tomorrow morning or lunchtime”. The water supplier said this was because the homes are normally served by the Fairlight reservoir, which was “not yet sufficiently stocked to meet the demand”. There were fears over the weekend that the Jack in the Green, a festival usually held in Hastings that marks the coming of summer, would be severely affected or cancelled. Despite the rain, the festival went ahead on Monday largely undisrupted. Keith Leech, the chair of trustees for the event, told the BBC: “On a bank holiday weekend, that’s absolutely not what the town needs. All the pubs, restaurants and hotels were thinking of having to close, but fortunately on this side of town they’ve managed to maintain a supply. Hastings being Hastings, we’re going to do it regardless of what’s going on.” View image in fullscreen The Jack in the Green parade in Hastings on Monday. Photograph: Toby Melville/Reuters Some festivalgoers told the BBC they had been filling up buckets with sea water in order to flush their toilets. The May Day Run, when thousands of motorbikes and scooters descend on the seafront, also went ahead. Sapphyre Callaghan told the BBC she had to close her food shop in Hastings for two days but still had a stall at the Jack in the Green festival. “We were probably out for three full days, so it was very difficult preparing for Jack in the Green,” she said. “Luckily, because we do festivals, we have the facilities to boil water and wash our hands, but by Saturday we decided to close [the shop] because we couldn’t cope with the lack of water.” Tara Flood, a Hastings local who was still without water on Monday, attended the festival. She told the BBC: “Low pressure last night, but no water this morning. It’s an absolute disgrace. We’ve been up to the water station on Rye Road. The staff working there are just fantastic. We’ve not been able to flush the toilet for 24 hours. This is not how it should be.” Sally-Ann Hart, the MP for Hastings and Rye, had told SussexWorld on Thursday that she had spoken to Steve Barclay, the environment secretary, to apply “pressure on Southern Water get water supply back as a matter of urgency and priority”. skip past newsletter promotion Sign up to First Edition Free daily newsletter Our morning email breaks down the key stories of the day, telling you what’s happening and why it matters Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion Southern Water said: “As areas are being brought back on to supply, Southern Water is redeploying its fleet of 24 tankers to support those areas still without supply. Our bottled water stations will remain open from 8am to 9pm and we will continue to deliver bottled water to customers on our priority services register until everyone is confirmed back in supply. “Efforts are under way to ensure supplies to enable all primary and secondary schools and colleges in the area to open as normal tomorrow.”
Elizabeth Holmes sees more months trimmed from prison release date 2024-05-06 18:33:00+00:00 - Imprisoned Silicon Valley CEO Elizabeth Holmes has shaved more months from her initial 11-year-plus sentence for wire fraud and conspiracy, federal records show, and is due to be released two years earlier than expected. Holmes, 40, has a current release date of Aug. 16, 2032, from a women's federal prison in Bryan, Texas, according to the Bureau of Prisons. Last July, her expected release date was listed as Dec. 29, 2032. The disgraced founder of failed blood-testing startup Theranos entered prison in May 2023 after she was handed a 135-month prison sentence for defrauding investors out of hundreds of millions of dollars. While the BOP declined to comment specifically about Holmes' status for privacy and security reasons, the agency said in a statement that "projected release dates are calculated with several factors in mind."Inmates are eligible for "good conduct time," and those who qualify can earn up to 54 days for each year of sentence imposed by the court. In addition, inmates can see more time taken off their sentences by earning time credits that accrue when they complete certain prison and work programs, part of the federal government's way to reduce recidivism and ease the prison population. Time credits are awarded over a 30-day period for programs related to anger management, mental health, financial literacy and other topics that seek to address behavior and instill personal skills. Once the credits are calculated and it is determined those credits equal the time left on the sentence, the inmate can be transferred out of prison into "pre-release custody," such as a halfway house or home confinement. Some may also be eligible for supervised release like probation. Supporters of the Trump-era law say they believe it can cut particularly harsh sentences for nonviolent drug offenders and lessen the racial disparities affecting people of color in the criminal justice system, although the calculation of time credits has come under scrutiny in recent years. Holmes is being held at FPC Bryan, a minimum-security prison camp where former "Real Housewives of Salt Lake City" star Jen Shah is serving her federal wire fraud sentence for a telemarketing scam. A lawyer for Holmes did not respond to a request for comment about her prison sentence. Along with Holmes, Theranos Chief Operating Officer Ramesh "Sunny" Balwani was also convicted at a separate trial for his role in the Theranos fraud, getting sentenced in December 2022 to nearly 13 years in prison. He is currently set to be released on Nov. 22, 2032, from a federal prison in Southern California, which would be two years sooner than expected. His lawyer declined to comment about his prison time. Meanwhile, a federal appeals court in San Francisco is set to hear oral arguments for Holmes' appeal on June 11. The appeal will deal with "convictions, sentences, and restitution orders" related to the case, according to the court calendar. Balwani is also supposed to have his appeals case heard at that time. After giving birth to her second child in early 2023, Holmes attempted to remain free on bail while appealing her conviction, but a judge denied that request. Theranos, which said its technology could give users health data by testing blood from a single finger prick, became emblematic of startups that lured investors with false promises in the early 2000s. Holmes' rise as a Stanford University dropout-turned-Silicon Valley sensation was the subject of investigative reports and a TV series that sought to scrutinize her dramatic story.
Sign Up for Your Money’s Financial Boot Camp for 20-Somethings 2024-05-06 18:21:33+00:00 - It’s graduation season, which is a good time for people in their early 20s to start thinking about how to get a better handle on their finances. How do you balance paying off student debt with saving for the future? Should you move back in with your parents to save on rent? What’s the best way to create a proper budget? Very few people have their finances perfectly in order while figuring out their lives and careers in their 20s. We want to help you get started. We’ve put together a five-day financial boot camp for people in their 20s to get them thinking about jobs, budgeting, saving and tackling debt. Starting on May 13, 2024, Ron Lieber, a financial columnist; Tara Siegel Bernard, a consumer finance reporter; and Mike Dang, a personal finance editor, will help guide you on the best practices for getting your finances in order.
Is Your Law Firm Using A.I.? Tell Us How. 2024-05-06 17:42:31+00:00 - Law firms are increasingly relying on generative artificial intelligence to produce research and draft documents. We’d like to hear from lawyers working with generative A.I., including contract lawyers who have been brought on for assignments related to A.I. If you fit this profile, please consider responding to the questions below. Your answers may help us better understand the use of A.I. in law and other professions and inform our reporting. We won’t publish your name or any part of your submission without contacting you first. If you prefer to share tips or thoughts confidentially, you can do so here.
Vogue owner Condé Nast averts union walkout with deal on day of Met Gala 2024-05-06 17:11:00+00:00 - Workers at Condé Nast, the media empire behind Vogue, Vanity Fair and GQ, announced a tentative agreement has been reached for a first union contract after threatening to stage a walkout during the Met Gala on Monday evening. The Condé Nast Union, which represents about 540 editorial workers, has been bargaining for a union contract since September 2022. It is affiliated with the NewsGuild of New York. Condé Nast owns a string of leading magazines and publications, including Glamour, Bon Appétit and Teen Vogue. It also owns the New Yorker, although this has a separate union. Back in November, as the company bargained with the Condé Nast Union, it announced plans to lay off 5% of its workforce. It then proposed laying off 94 union members. The proposed layoffs further heated contention between both sides in bargaining, with the union threatening to walk off the job. The union also distributed flyers in New York City, criticizing the opulence of the Vogue editor-in-chief, Anna Wintour – the face and organizer of the fashion industry’s biggest night, the Met Gala – throughout her neighborhood to raise public awareness of the contract fight with the tagline, “Anna wears Prada, workers get nada”. View image in fullscreen Anna Wintour at the Met Gala in New York on 2 May 2022. Photograph: Evan Agostini/Invision/AP Both sides finally reached a tentative agreement at 3am local time in New York on Monday: the day of this year’s Meta Gala, which some workers had threatened to disrupt. “We made a commitment to do whatever it takes to get our contract,” said Mark Alan Burger, Vanity Fair social media manager and a member of the Condé Nast Union bargaining team. “Our pledge to take any action necessary to get our contract, including walking off the job ahead of the Met Gala, and all the actions we took this week, pushed the company to really negotiate. “We made every effort this week to meet with them and get this contract completed and we’re thrilled to say we did it.” Workers will vote on whether to ratify the agreement – which includes $3.6m in wage increases, including a starting salary floor of $61,500 annually, an increase of two weeks of paid parental leave, just cause protections, conversion of subcontracted workers to staff, and negotiated terms of the previously announced layoffs – later this week. Condé Nast said it was “pleased to come to tentatively agreed terms” with the union. The contract “reflects and supports our core values: our content and journalism; our commitment to diversity and professional development; our industry-leading hiring practices and our competitive wages and benefits,” the company added.
Renters' hopes of being able to buy a home have fallen to a record low, New York Fed survey shows 2024-05-06 17:03:00+00:00 - The dream of home ownership has gotten even further away for renters, with higher housing costs and elevated interest rates standing in the way of the American housing dream, according to a New York Federal Reserve survey released Monday. The share of renters as of February who possess hopes of “residential mobility,” or the belief from renters that they one day will be able to afford a home, fell to a record low 13.4% in the central bank’s annual housing survey for 2024. That’s down from 15% in 2023 and well off the 20.8% series high back in 2014. Pessimism about future prospects comes amid a confluence of factors conspiring against the likelihood of renters being able to transition to home ownership. For one, some 74.2% of renters viewed obtaining a mortgage as somewhat or very difficult, which the New York Fed said has “deteriorated substantially” from the 66.5% level in 2023 and 63.1% in 2022. Moreover, mortgage rates have remained high by historical standards. A 30-year fixed-rate mortgage now carries an average 7.22% borrowing rate, the highest since late-November 2023, according to Freddie Mac. Housing affordability has improved little, with the median price in February at $388,700, the highest since November, according to the National Association of Realtors. The NAR’s housing affordability index was at 103 in February, down slightly from January but still at elevated levels with average monthly housing payments at $2,040. Survey respondents expect housing prices to increase 5.1% over the next year, nearly double the 2.6% expected rate in February 2023 and above the pre-pandemic mean of 4.2%. Despite prospects for the Fed to cut interest rates before the end of 2024, respondents think mortgage rates are only going to go higher. The outlook for a year from now is that borrowing costs will be 8.7%, and 9.7% in three years, both survey records. There’s not a lot of good news on the renting front, either. Respondents expect rental costs to increase by 9.7% over the next year, up 1.5 percentage points from last year’s survey and the second-highest in series history. The results come a week after the Federal Open Market Committee voted to hold benchmark interest rates steady while indicating that there has been “a lack of further progress” in its efforts to bring the annual inflation rate back down to 2%. Futures market pricing is indicating that the Fed will begin lowering rates in September, with a another cut likely to come in December.
European Oil Giants Consider Shifting Their Listings to the U.S. 2024-05-06 16:44:29.956000+00:00 - Two European energy giants, TotalEnergies of France and Shell of Britain, are considering moving their stock listings to New York, as pressure mounts for them to improve their valuations, which lag their American counterparts. Shifting their listings to the United States would be a blow to European exchanges, where they are among the largest listed companies. In the past, it would have been almost unthinkable for TotalEnergies, one of France’s most prominent companies, to consider moving its primary share listing from Paris. But the company’s chief executive, Patrick Pouyanné, discussed considering such a shift to analysts recently. “There was a discussion with the board,” Mr. Pouyanné said on a recent call to discuss earnings. “We all agreed that we have to seriously look at it.”
BioCryst Pharmaceuticals, Freshpet rise; Luminar, Integra fall, Monday, 5/6/2024 2024-05-06 16:35:33+00:00 - Stocks that traded heavily or had substantial price changes on Monday: Paramount Global, up 40 cents to $13.29. The owner of Paramount Pictures and CBS is reportedly considering a sale to Sony Pictures and Apollo Global Management. Vistra Corp., up $1.75 to $83.24. The electricity company is being added to the S&P 500 index. Luminar Technologies Inc., down 1 cent to $1.67. The maker of technology for self-driving vehicles is cutting 20% of its workforce. Napco Security Technologies Inc., up $2.83 to $45.30. The security products and software company beat analysts’ fiscal third-quarter financial results. BioCryst Pharmaceuticals Inc., up 82 cents to $5.27. The drugmaker’s first-quarter earnings and revenue beat Wall Street forecasts. Freshpet Inc., up $11.45 to $121.03. The seller of fresh pet food beat analysts’ first-quarter financial forecasts. Integra LifeSciences Holdings Corp., down $5.75 to $23.14. The medical device maker trimmed its earnings forecast for the year. Treehouse Foods Inc., down $2.68 to $34.58. The food maker’s first-quarter loss was bigger than analysts expected.
Planters nuts recalled due to potential for listeria contamination 2024-05-06 16:08:00+00:00 - Hormel Foods is recalling two types of Planters nuts due to the potential for contamination with the germ listeria, the manufacturer announced. The recall affects certain Planters honey roasted peanuts and Planters mixed nuts shipped to Publix supermarket warehouses in Florida, Georgia, Alabama and North Carolina, and to Dollar Tree warehouses in South Carolina and Georgia. While there have been no reports of illnesses, the products “are being recalled out of an abundance of caution” because they could be tainted with listeria, which can cause serious, sometimes fatal, infections in certain individuals, Hormel Foods said in an announcement last week. The Centers for Disease Control and Prevention says that listeria is most likely to sicken pregnant women and newborns, adults age 65 or older, and individuals with weakened immune systems. Listeria infection can cause miscarriages, stillbirths and preterm labor among pregnant women. Others can be infected with listeria, but it’s rare for them to become very ill: In healthy people, symptoms include fever, stiff neck, headache and flu-like symptoms, according to the CDC. The recall affects 4-ounce packages of Planters Honey Roasted Peanuts with a “best if used by” date of April 11, 2025, and a package UPC code of 2900002097. It also affects 8.75-ounce cans of Planters Deluxe Lightly Salted Mixed Nuts with a “best if used by” date of April 5, 2026, and a package UPC code of 2900001621 on the side of the can. No other products or packaging sizes are included in the recall, Minnesota-based Hormel Foods said. Customers should discard the nuts or return them to the store where they purchased them for an exchange, the company added. The CDC estimates that 1,600 people get sick from listeria each year and that about 260 die, making listeria the third leading cause of death from food poisoning in the United States. Hormel Foods said in a notice posted on the Food and Drug Administration’s website that “commitment to food safety remains our utmost priority” and that “a full investigation” is underway to determine the source of the contamination.
Condé Nast workers reach labor agreement with publisher, averting Met Gala strike 2024-05-06 15:36:00+00:00 - What to expect at the 2024 Met Gala What to expect at the 2024 Met Gala 02:14 The Condé Nast union said Monday it has reached a tentative labor agreement with the publisher's management just hours ahead of the Met Gala, which is chaired by Anna Wintour, the company's global chief content officer and editorial director. The agreement, which still needs to be ratified by union members, was reached after months of bitter negotiations had failed to yield the first labor contract for employees at the New York media company. Union members had been poised to picket the Met Gala at The Metropolitan Museum of Art Monday evening, "On behalf of the management bargaining committee and leaders throughout the business, we are pleased to come to tentatively agreed terms on a contract with the union," Condé Nast Chief People Officer Stan Duncan said in a statement. "We are happy to have a contract that reflects and supports our core values — our content and journalism; our commitment to diversity and professional development; our industry-leading hiring practices and our competitive wages and benefits." The union includes staffers at publications GQ, Allure, Vogue, Vanity Fair, Glamour, Bon Appétit, Epicurious, Self, Teen Vogue, them, Condé Nast Traveller, Ars Technica, Wired, Pitchfork and Architectural Digest, as well as workers in audience development, commerce and video. The Met Gala, officially called The Costume Institute Benefit, takes place on the first Monday in May at the Metropolitan Museum of Art. The event gathers of celebrities from the worlds of entertainment, design, sports and other industries supports the Metropolitan Museum of Art's acquisitions and exhibitions related to fashion. Condé Nast's union said the new contract will guarantee a minimum starting salary of $61,500; end a two-tier wage system that led to lower pay for long-term freelancers; and offer two additional weeks of family leave, among other benefits. Overall, workers will see a combined wage increase of $3.3 million under the deal, the group said on X (formerly known as Twitter). "Our persistent fight for our rights and for the best win possible is why we have this tentative agreement," the union said.
Rafah residents evacuate on Israeli military orders ahead of ground assault 2024-05-06 15:28:00+00:00 - Others quickly heeded the call. Families packed their cars and trucks with the few possessions they still had after seven months of war and embarked on what was for many just the latest displacement. Others could be seen driving north, the roofs of their vehicles stacked with mattresses, bundles of blankets and other essentials. The Israeli military said an estimated 100,000 people were being asked to follow what it said was the “temporary” evacuation of eastern Rafah and move to Al-Mawasi, a nearby coastal area where it promised an “expanded humanitarian area” would await them. Lt. Col. Nadav Shoshani, an Israel Defense Forces spokesperson, said this was a “limited scope operation” and would not be “wide-scale.” Israel has said for months that it will launch a ground assault on Rafah, home to 1.4 million people before the conflict, to target Hamas leaders, defying pressure from the United States and others who have warned that such an attack threatened devastating consequences for the Palestinians sheltering there, already facing limited food and aid. The evacuation order followed a Hamas attack launched from Rafah on Sunday that the IDF said killed four Israeli soldiers at a border crossing, though the IDF would not say whether its operation Monday was a response. The militant group said in a statement that an attack on the city “will not be a picnic” for the Israeli army. Some analysts speculated that the evacuation orders for eastern Rafah might represent another negotiating tactic in cease-fire talks. But their impact was not in doubt for residents of Rafah. “They told us to evacuate, and here we are doing so,” said Mahmood Wahba as he prepared to flee for the city of Khan Younis, near Al-Mawasi. “We hope that God will bring us goodness, God willing,” he said as he and his family loaded a car with their possessions. Wahba said his family had heard of the order on the internet, while the IDF had also spread its message through air-dropped flyers, text messages and loudspeakers.
Republicans shift their focus to home appliances (yes, again) 2024-05-06 15:26:53+00:00 - A few weeks ago, House Republicans announced plans to put aside real legislative work and instead focus on a series of bills related to home appliances. By any fair measure, they weren’t real measures: GOP leaders had set up a series of messaging votes that related to the party’s opposition to energy efficiency standards. Those efforts, which generated no small amount of mockery, were ultimately delayed. As E&E News reported, they’re apparently back. The House will hold floor votes this week on bills that would roll back the Biden administration’s energy efficiency agenda on home appliances. ... Lawmakers will debate Arizona Republican Rep. Debbie Lesko’s “Hands Off Our Home Appliances Act,” H.R. 6192, to prohibit the Department of Energy from implementing or enforcing efficiency standards on a wide variety of home appliances if they are not “technically feasible or economically justified” and if they do not result in “significant conservation of energy.” House Majority Leader Steve Scalise has confirmed that members will take up the bill this week — the Louisiana Republican’s new schedule for the week boasted, "Republicans are protecting your home appliances” — and the GOP-led House Rules Committee has listed the “Hands Off Our Home Appliances Act” as its first order of business today. To be sure, the Republicans’ appliance-related agenda includes a variety of other bills, including the “Liberty in Laundry Act” (H.R. 7673), the “Clothes Dryers Reliability Act (H.R. 7645), the “Refrigerator Freedom Act” (H.R. 7637), the “Affordable Air Conditioning Act” (H.R. 7626), and the “Stop Unaffordable Dishwasher Standards Act” (H.R. 7700). Those other measures will, however, apparently have to wait — until after the House has passed the “Hands Off Our Home Appliances Act,” which will likely reach the floor this week, possibly as early as tomorrow. Axios reported nearly a month ago that there was some growing “frustration” among House Republicans “over plans to vote on a series of appliance-related messaging bills ... that are likely to stall in the Senate.” And yet, here we are, watching the agenda move forward anyway. A recent PunchBowl News report helped summarize matters: “These are all part of the Republican culture war clash over energy efficiency and climate change. It’s similar to the gas stove hysteria or Trump’s war on low-flush toilets and light bulbs.“ Quite right. GOP lawmakers know that these home-appliance-related bills aren’t going anywhere in the Democratic-led Senate, but by all appearances, party leaders don’t much care. They want to be able to tell the far-right Republican base that they’re on Capitol Hill, fighting tooth and nail in support of pointless messaging bills that combat energy conservation and efficiency standards. As a result, the “Hands Off Our Home Appliances Act” will no doubt make for delightful fundraising letters and several Fox News segments, even as real priorities in need of Republicans’ attention go overlooked. This post updates our related earlier coverage.
From sporrans to chandeliers: King Charles and Queen Camilla weigh up new royal warrants 2024-05-06 15:23:00+00:00 - On first glance the list of prestigious brands reads like the wedding gift registry of a wealthy eccentric. Moët & Chandon is one of eight acceptable champagnes for the ice bucket on the (Steinway) piano. The fashion stakes are high, too, with the posh trenchcoat purveyor Burberry, the Savile Row tailor Gieves & Hawkes, and Lamont Sporrans for when only Highland dress will do. But on closer inspection a more practical bent emerges: Crystal Light Chandeliers to “solve all your chandelier worries”, Asbestos Removals and Event-A-Loo. Then the list starts to make sense – these are the hundreds of suppliers required to keep a castle or two running smoothly. However, the list of near 750 companies who hold royal warrants granted by either the late Queen Elizabeth II or King Charles when he was Prince of Wales is undergoing a shake-up. A warrant becomes void after the death of the grantor, an event that sets in train a massive review that requires companies to reapply so they can continue boasting they provide their goods or services “by appointment to” a senior royal. View image in fullscreen Lamont Sporrans paid tribute to Queen Elizabeth II after her death in 2022 with a special display in its shop window in Braemar. Photograph: Murdo MacLeod/The Guardian A year on from King Charles’s coronation – and despite the recent health setbacks in the royal family, including the monarch’s cancer diagnosis – this extensive undertaking, which is managed by the Royal Warrant Holders Association, is well under way King Charles is said to be “looking through” applications from the 172 holders of warrants he granted when he was Prince of Wales who wish to obtain one from him as king now. The decisions on these are expected by the end of this month. Then the focus moves on to the 578 holders of warrants issued by the late queen, which range from the high-end grocer Fortnum & Mason to the late Queen Mother’s favourite tipple, Dubonnet. Application packs for a warrant from the king have already been issued, with answers due in the autumn. For companies eager to get in on the act and – for the first time gain the patronage of Queen Camilla – completely new applications for warrants from the king and queen (who is becoming a grantor) are supposed to open this month. However, the awards will not be made until 2025. The history of the royal warrant can be traced back to medieval times, when competition for regal favour was intense. The process was formalised by the 15th century but it wasn’t until the 19th century it took off as a means to promote British business around the world. Queen Victoria granted 2,000 warrants during her 63-year reign. View image in fullscreen King Charles III and Queen Camilla on the balcony of Buckingham Palace after the coronation on 6 May 2023. Photograph: Leon Neal/PA Craig Beaumont, the chief of external affairs at the Federation of Small Businesses, said companies had told the trade body they were “proud to display the royal arms” and it was an asset to those selling overseas. The Essex jam maker Wilkin & Sons, which is behind the Tiptree brand, has applied for a warrant from the king in the hope of keeping a long tradition alive. It received its first warrant from George V in 1911 and subsequent monarchs have continued the tradition. Scott Goodfellow, the company’s joint managing director, said that a royal warrant “has, for us, always been the best indicator of quality and service and this is recognised by customers both at home and across the globe”. Warrants are only granted to individuals or companies that provide paid-for goods or services to the royal household for at least five years. They are allowed to use the appropriate royal arms on everything from their packaging and advertising to their premises and vehicles. A warrant is usually granted for up to five years and reviewed in the year before expiry. The warrant is very important to our business, especially in export markets like China and Japan Corgi Hosiery’s Chris Jones It is hard to gauge how much of sales fillip a royal stamp of approval is, with previous analysis suggesting it could be worth up to 5% of turnover. For British companies selling overseas there is particular excitement about the bankability of younger royals, with Prince William issuing his warrant from next year. Chris Jones, the managing director of Corgi Hosiery in Carmarthenshire, Wales – which makes luxury socks for humans rather than the late queen’s favourite breed of dog – hopes to hear back soon as to whether King Charles will turn the award he granted as Prince of Wales into a king’s warrant. “The warrant is very important to our business, especially in export markets like China and Japan,” Jones said. “It is seen as a mark of top quality and is something we have on our socks that nobody else has. “When we are meeting new retailers it is something that gives them confidence that we make a quality product, and stores like carrying products that carry the warrant.” View image in fullscreen Rigby & Peller lost its royal warrant in 2018. Photograph: Linda Nylind/The Guardian However, the royal seal comes with strings attached, one of which is discretion. Roughly 20 to 40 warrants are cancelled each year, with a similar number of new ones granted. Benson & Hedges, for example, had its royal warrant revoked in 1999 with the official reason “a lack of demand in royal households”. More recently, the lingerie retailer Rigby & Peller lost its warrant in 2018, supposedly because the company’s director June Kenton revealed details of her work with the royals in her book Storm in a D Cup. If that is the case, warrant holders should tread carefully as the book is light on royal underwear intrigue. The biggest revelation to emerge from her first bra fitting with the late queen was the sovereign’s concern that it might rain and that she was due to host a garden party. (Although Kenton did also reveal giving posters to Diana, Princess of Wales for her sons to put up in their rooms at Eton.) The warrant review triggered by the queen’s death is said to have caused nervousness in some quarters, with fashion brands in particular said to be concerned they would not be able to satisfy the king of their environmental credentials. There has always been a sustainability requirement but applicants report having to set out what their business is doing to work towards net zero. “It’s good the warrants are being reassessed,” one applicant said. “Some big UK brands no longer manufacture here, so I expect they will lose their warrants, which is right. It should only be for proper UK companies.”
How much does a Met Gala ticket cost? A look at the price of entry for fashion's biggest night 2024-05-06 14:50:00+00:00 - Even the 2024 Met Gala isn't immune from inflation, it seems. The cost of attending the annual black-tie event, dubbed "fashion's biggest night," is up sharply this year, with the price of an individual ticket soaring above the average down payment on a house. Officially called The Costume Institute Benefit, the gathering of celebrities from the worlds of entertainment, design, sports and other industries supports the Metropolitan Museum of Art's acquisitions and exhibitions related to fashion. Attendees often wear outlandish attire in keeping with the event's theme. The co-chairs of this year's benefit, held on May 6, are Bad Bunny, Chris Hemsworth, Jennifer Lopez, Anna Wintour and Zendaya. It celebrates the opening of the Costume Institute's spring exhibition, "Sleeping Beauties: Reawakening Fashion." The dress code? "The Garden of Time," according to The Met. The exhibit's description provides some clues as to how to translate that into fashion. Hint: Pick styes that evoke nature. It features 250 garments spanning four centuries, which are "visually united by iconography related to nature, which will serve as a metaphor for the fragility and ephemerality of fashion and a vehicle to examine the cyclical themes of rebirth and renewal," The Met notes. But because the gala is a fundraiser, the price of admission doesn't come cheap, even if you're on the exclusive guest list. How much are Met Gala tickets? Cara Delevingne attends The 2023 Met Gala at The Metropolitan Museum of Art on May 1, 2023, in New York City. / Getty Images For invited individuals, the cost of entry to this year's gala is $75,000, The Met told CBS MoneyWatch. That's up 50% from last year's $50,000 price tag. A 10-person table starts at $350,000, according to The Met. How much do celebrities have to pay to attend the Met Gala? Simon Porte Jacquemus and Bad Bunny depart The Mark Hotel to attend the 2023 Met Gala in New York, New York, on May 1, 2023. Lokman Vural Elibol/Anadolu Agency via Getty Images Well, first they have to be invited. Not just anyone can buy a ticket or a table to the event. Meanwhile, many celebrities don't pay full freight. Instead, a design house typically springs for a table and invites guests they wish to host, one attendee confirmed to CBS MoneyWatch. So for some particularly glittering guests, attendance is free. Where do the proceeds from Met Gala tickets go? Vogue Editor-in-Chief Anna Wintour attends The Metropolitan Museum of Art's announcement of the Costume Institute's spring 2024 exhibition, "Sleeping Beauties: Reawakening Fashion" in New York on Nov. 8, 2023. ANGELA WEISS/AFP via Getty Images Anna Wintour, who is Condé Nast's chief content officer, global editorial director at Vogue and a Met Trustee since 1999, controls the event's guest list. To date, under her leadership the event has raised more than $223.5 million for The Costume Institute, according to The Met. Last year's Met Gala raised raised nearly $22 million. Roughly 400 guests attended, according to the Associated Press.
How the single-sex toilet law in England will work 2024-05-06 14:29:00+00:00 - Ministers have announced plans that new non-domestic buildings in England must have single-sex toilets. Here we explain how the new law would work and what has motivated it. What will the new law require? New non-domestic buildings, including restaurants, shopping centres, offices and public toilets, will have to have separate facilities for men and women, although, where there is insufficient space, a self-contained universal toilet – including a washbasin – may be provided instead. Universal toilets can also be provided in addition to single-sex facilities. What exemptions are there? The change in building regulations will not apply to residential homes, ensuite facilities in individual rooms for residential purposes, residential rooms in care homes, cells in custodial facilities, premises used wholly or mainly for early years provision, or schools. Separate toilet facilities for boys and girls aged eight years or over must already be provided in schools, except where the toilet is in a room that can be secured from the inside and intended for use by one pupil at a time. Existing buildings will be unaffected. What motivated the change? Announcing the plans, the government said it would “halt the march of gender-neutral toilets”. It said a consultation showed 81% agreed with the intention for separate single-sex toilet facilities and 82% agreed with the intention to provide universal toilets where space allows. It said particular concerns were raised by women, elderly people and people with disabilities, and that gender-neutral facilities, where users share cubicle and hand-washing facilities, lead to “increasing waiting in shared queues, decreased choice and less privacy and dignity”. Gender-critical feminists, who believe sex is biological, immutable and should be prioritised over gender identity, have been vociferous campaigners for single-sex spaces, including toilets. The women and equalities minister, Kemi Badenoch, who announced the change in the building regulations, has long been seen as an ally to them. How will the change in law affect transgender people? Campaigners argue that some trans, non-binary and gender-diverse people prefer to use gender-neutral toilets because they can face discrimination and harassment in single-sex facilities and the new law does not take account of that. Under existing law, transgender people can use the toilet that matches their gender identity but, in 2022, the Equality and Human Rights Commission said that, under the Equality Act, people who do not have a gender recognition certificate could be excluded from single-sex services or facilities, including toilets, if it is “a proportionate means of achieving a legitimate aim”. It gave as an example a community centre with separate male and female toilets, which “conducts a survey in which some service users say that they would not use the centre if the toilets were open to members of the opposite biological sex, for reasons of privacy and dignity or because of their religious belief. It decides to introduce an additional gender-neutral toilet. It puts up signs telling all users that they may use either the toilet for their biological sex or to use the gender neutral toilet if they feel more comfortable doing so.”
3 CEO-Led Turnaround Stocks You Can Still Buy 2024-05-06 12:55:00+00:00 - Key Points Tractor Supply Company commands the rural marketplace and is still growing after years of record-setting results. Jack in the Box is expanding its operating arena, deepening the penetration of existing markets, and widening margins. Chipotle Mexican Grill is the hottest CEO-led turnaround story on the market and is setting new highs; the business could double in size twice over the next decade. 5 stocks we like better than Chipotle Mexican Grill The CEO is the most important person in a company. The CEO alone is responsible for knowing the inside and outside of the business, the market dynamics, operations, and strategy. The CEO is responsible for interpreting news and events and guiding strategy. They are responsible for the money, spending and making it, and are the outward face of the business, reporting only to the board. It is significant when the CEO of a company changes, specifically if a company’s business is stagnant, ailing, or on the rocks. A new CEO can breathe life into an old business and drive shareholder value. This is a look at three CEO-led turnarounds still in their early innings that investors can buy into. Get Chipotle Mexican Grill alerts: Sign Up Tractor Supply Company: Life Out Here is Good Tractor Supply Today TSCO Tractor Supply $269.54 -0.67 (-0.25%) 52-Week Range $185.00 ▼ $279.38 Dividend Yield 1.63% P/E Ratio 26.25 Price Target $253.54 Add to Watchlist NYSE: HD Hal Lawton took the helm of Tractor Supply Company NASDAQ: TSCO in January 2020, just months before the COVID-19 pandemic gripped the world. His experience before joining the Tractor Supply Team includes fifteen years in key roles at retail leaders eBay NASDAQ: EBAY , and Macy’s NYSE: M , which provided the perfect background to leverage this business to record growth. Pillars of his strategy include the Life Out Here campaign, a lean into eCommerce, and improved merchandising and customer experience. The result is four years of sustained growth. Growth surged to record levels during the pandemic, setting records for revenue and earnings for twelve consecutive quarters. Revenue and earnings growth persists despite slowing into the single-digit range. Among the salient details for investors is the outlook for sustained single-digit growth and the dividend. The analysts forecast top and bottom-line growth to continue in 2025 and for dividend increases to continue. The 1.6% dividend yield is reliable, and the distribution is growing. The payout ratio is low at 40% and backed up by a fortress balance sheet. Highlights from Q1 2024 include increased cash and assets, long-term leverage at 0.8X equity, and equity up 10% YOY. The company also makes meaningful share repurchases, reducing the count by a 2% average for the quarter. Jack in the Box Winds Up For Major Expansion Jack in the Box Today JACK Jack in the Box $54.91 -0.32 (-0.58%) 52-Week Range $53.71 ▼ $99.56 Dividend Yield 3.21% P/E Ratio 9.65 Price Target $86.67 Add to Watchlist CEO Darin Harris took the helm in June 2020 during the pandemic's peak. His goal was to rationalize the business, aligning the needs and strategy of a diverse chain of company-owned and franchised locations. Beyond that, the mission was to expand into new territories, deepen penetration, and improve operating metrics with the customer in mind. His plans included digitization, aiding results, and the outlook remains robust. The company is experiencing headwinds in 2024 related to tough comps and re-franchising efforts in the Del Taco segment. However, margins are improving, the Jack in the Box store count is growing, and the outlook is robust. Analysts forecast significant margin expansion over the next eighteen months despite sluggish sales, and the revenue forecast is cautious. The company has signed agreements for 358 new Jack in the Box stores, which is good for a store count increase of 18% over the next two to three years. JACK shares pay a reliable dividend worth 3% at current price points, and the company repurchases shares. Chipotle Mexican Grill is the Hottest CEO-Led Growth Story Chipotle Mexican Grill Today CMG Chipotle Mexican Grill $3,199.10 +43.72 (+1.39%) 52-Week Range $1,768.64 ▼ $3,241.42 P/E Ratio 68.27 Price Target $3,137.12 Add to Watchlist CEO Brian Niccol took control in March 2020 and stormed the market. His lean into quality, operations, and eCommerce resulted in record-setting growth and results that have yet to cease. The company is on track to double its North American footprint from current levels and expand internationally, which could double the business again. Among the highlights of his strategy are digital access and Chipotlanes, which can only be used with the online app. Chipotlances improve store results via increased traffic, comp store growth, and wider margins. They are the pillar of the growth strategy and are included in most new builds and remodels. Analysts liked what they saw in the latest report and are leading this market higher. Marketbeat.com tracks two dozen updates since the release, and all but one include a price target increase. Most updates include a target above the consensus; consensus is up 25% since the report. Before you consider Chipotle Mexican Grill, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Chipotle Mexican Grill wasn't on the list. While Chipotle Mexican Grill currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
3 Value Stocks You Can Buy Before They Become Big 2024-05-06 12:00:00+00:00 - Key Points A value stock is a share in a company considered to be underpriced based on its fundamentals that offers the potential for substantial growth. With their unique products, high profit margins, and strong returns on capital, three companies today are showing signs of becoming value plays: Generac Holdings, Southwest Airlines, and Sprouts Farmers Market. Despite various challenges, these companies maintain their investment appeal through strategic financial management and market niche exploitation. 5 stocks we like better than Generac What’s Warren Buffett’s secret? The truth is, there is no secret. The only thing the legendary investor can be credited with is an uncanny ability to spot companies that would one day become big names at an early enough stage so they could be acquired at a fraction of current valuations. Of course, this is easier said than done. To find undervalued stocks to buy before their values skyrocket, investors should focus on three main things a company should have: products that stand out, high profit margins, and high rates of return on invested capital (ROIC). Get Generac alerts: Sign Up Let's take a look at Generac Holdings Inc. NYSE: GNRC, Southwest Airlines Co. NYSE: LUV, and Sprouts Farmers Market Inc. NASDAQ: SFM -- all companies that carry the fundamental characteristics of being potential value plays. Generac: Beginning to Fit the Profile Generac Today GNRC Generac $136.30 +2.92 (+2.19%) 52-Week Range $79.86 ▼ $156.95 P/E Ratio 37.55 Price Target $142.40 Add to Watchlist After reaching an all-time high of $524 a share in 2021, shares of Generac have fallen to $133.40 to bring investors a discount of up to 75% from the stock’s former glory. Now an $8.2 billion market capitalization company, it could give investors access to the large capitalization stocks group. However, many factors need to land in the right place to make this a reality. The company’s financials show a gross margin rate of 35%, and most of its sales come from the U.S. markets alone. Because the company serves alternative power generators (typically attractive in areas with frequent power outages), the real growth can come from starting operations in emerging and developing nations. Despite its lack of international presence, Wall Street analysts still project the stock could deliver 31.4% earnings per share (EPS) growth this year, which could help the company’s current 6% ROIC push higher. Despite being a smaller company, its balance sheet only shows 41% of capital being debt-based. With $520 million in free cash flow (operating cash flow minus capital expenditures) over the past 12 months, management repurchased $263 million worth of stock during the year. Southwest Airlines: Not Ready to Land Southwest Airlines Today LUV Southwest Airlines $27.42 +1.27 (+4.86%) 52-Week Range $21.91 ▼ $39.53 Dividend Yield 2.63% P/E Ratio 43.52 Price Target $30.24 Add to Watchlist Sure, bigger competitors likeare credited with better price action this year. Trading at 89% of its 52-week high , United received more optimistic sentiment than Southwest’s 66%. However, the truth is revealed in the rate of institutional ownership. Institutions own 80.8% of Southwest's stock, compared to roughly 70% of United's. There's a straightforward reason behind this, and it's got to do with Southwest's product. Focusing on only 121 U.S. destinations plus 10 countries in the Caribbean, Southwest found a way to own this tight niche market. United Airlines serves 140 international destinations in 72 countries, and if size mattered, this one would take the win. However, here’s where Southwest begins to fit the value profile. As of 2022, the airline reported 126.6 million passengers, versus United Airlines’ 144.3 million. Adjusting for the broader reach of destinations and networks, Southwest has a better penetration rate based on its flight services. This is evident in the company’s financials. Southwest’s current net income margin is only 1.8%, which would scare away investors looking for a potential value play in their portfolios. Compared to the pre-pandemic periods, these margins are only a fraction of what they used to be. From 2015 to 2019, the company achieved net income margins between 12% and 16%, unrivaled by its airline peers. United Airlines’ net income margins hovered around 4-7% during the same period. It is important to note that these margin contractions are solely due to issues at The Boeing Co. NYSE: BA, where recent incidents held back production. Because Southwest operates only Boeing airplanes, its operating expenses have jumped from 25% of revenue to more than 50%. Now, analysts understand that this is a temporary problem, so they see the company’s EPS growing by 95% in the next 12 months, something investors should keep in mind. Once margins are back, ROIC should return to double-digit rates, unlike today’s 2.5%. Sprouts: Got Growth? Sprouts Farmers Market Today SFM Sprouts Farmers Market $75.00 +1.32 (+1.79%) 52-Week Range $32.12 ▼ $75.54 P/E Ratio 25.86 Price Target $53.50 Add to Watchlist Analysts think Sprouts' stock could deliver up to 8% EPS growth this year. The company's closest competitor,, is expected to have a 4.7% rate . Kroger is $40.1 billion in size, while Sprouts is only $6.8 billion, which gives investors much more room to grow. At least, that’s what the markets thought as they bid Sprouts' stock to a new all-time high while Kroger struggled to return to its own high. Being part of the consumer staples sector also helps. Sprouts’ gross margins also show this superiority, reading at 37.4% above Kroger’s 23%. Keeping more money from each sale enables management to compound the company’s capital at a 9.1% ROIC. While that number is still below Kroger’s 10%, Sprouts, as a newcomer, shouldn’t be this close to its more established competitor. As of March, analysts at Goldman Sachs saw it fit to boost their price targets on Sprouts up to $71 a share. While the stock is now fairly valued, recent earnings announcements show a 54% EPS growth, making current projections seem more conservative, which may tempt analysts to reassess the stock’s true value. Before you consider Generac, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Generac wasn't on the list. While Generac currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here