Story of the Week Key Fed inflation gauge at 2.2% in August, lower than expected Inflation moved closer to the Federal Reserve’s target in August, easing the way for future interest rate cuts, the Commerce Department reported on Sep 27th. The personal consumption expenditures price index, a gauge the Fed focuses on to measure the […]
Story of the Week Fed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years On Sept. 18, the Federal Reserve enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to […]
Story of the Week General Mills to sell North American yogurt business for $2.1B General Mills is selling its North American yogurt business to French dairy companies Lactalis and Sodiaal in cash transactions valued at an aggregate $2.1 billion. Lactalis will acquire the U.S. operation and Sodiaal the Canadian business. The deals are expected to […]
Story of the Week Nordstrom family group offers $3.8B to go private Nordstrom family members including CEO Erik Nordstrom and his brother Pete, who is president of the company, have teamed up with Mexican retail company El Puerto de Liverpool to buy the department store for $23 per share or $3.8 billion in cash. The […]