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If you've ever been confused by miniature bottles branded as Fireball Cinnamon, the popular cinnamon-flavored drink found in gas stations and supermarkets, you're not alone — and now there's a lawsuit over the matter. Citing two news articles pointing out that the bottles, while displaying the Fireball label, do not actually contain whisky, lawyers representing Chicago plaintiff Anna Marquez are seeking unspecified damages against Fireball-maker the Sazerac Company. In the suit, Marquez and her attorneys say the mini bottles, which advertise "Fireball Cinnamon," falsely give consumers the impression that the drinks are merely smaller versions of regular Fireball whisky. "When viewed together with the Fireball distilled spirit brand name, the label misleads consumers into believing it is or contains distilled spirits," the suit states. A representative for Sazerac said the company does not comment on pending litigation and referred an inquiry to the company's Fireball Cinnamon FAQ page.

Big Olaf Creamery has been ordered to pay $4 million to the estate of Mary Billman, a 79-year-old Illinois woman whose death has been linked to a listeria outbreak traced to the Florida-based ice cream maker. Included in Judge William Jung’s ruling are $1 million Big Olaf will have to pay in punitive damages. Big Olaf Creamery in Siesta Key, Fla. Google Maps"Her pain and suffering and resulting death, and ultimate loss to her family and friends, cannot be understated," the suit said. A subsequent investigation by the U.S. Food and Drug Administration prompted a Dec. 9 warning letter finding Big Olaf in "serious violation" of U.S. health codes. A representative for Big Olaf could not be reached for comment.

Walmart said Tuesday it would raise the average hourly wage of its associates to more than $17.50 an hour — up from about $17 an hour. A Walmart representative also told CNBC Tuesday that its overall minimum wage would climb to $14 an hour, a roughly 17% jump for workers who stock shelves and serve customers. The range of salaries for store employees will also climb to between $14 and $19 an hour, from $12 and $18 an hour. About 340,000 store employees will get a raise, representing 21% of Walmart’s 1.6 million U.S. employees. "The labor market for most workers cooled somewhat over 2022, but it’s still hot," he said.

But an accompanying document from one of Holmes' attorneys explained that the ticket had been purchased prior to her conviction. "The government’s newfound claim that Ms. Holmes attempted to flee is baseless," Holmes' attorneys write. Holmes has also been in frequent contact with multiple pretrial services officers, they write. "She has a flawless pretrial services record," they said. The lawyers add that the accusations “have been widely reported in the press and already have produced negative effects for Ms. Holmes and her partner beyond this case,” without elaborating.

Tesla CEO Elon Musk took the witness stand again Monday in a trial over whether he purposefully misled investors when he tweeted that he had "secured" funding to take the electric car maker private. Musk is being sued by Tesla investors who claim the August 2018 take-private tweet caused them to lose substantial sums of money. “Just because I tweet something does not mean people believe it or will act accordingly,” Musk told the jury Friday in San Francisco federal court. Musk’s attorney, Alex Spiro, told the jury in opening statements last week that Musk believed he had financing from Saudi backers and was taking steps to make the deal happen. Asked Friday about requests from Twitter stakeholders to avoid tweeting, Musk said he did not recall them.

Labor shortagesAs the pandemic swooped in, air travel was among the industries most affected, as more than 90% of flights were grounded. Today, labor shortages exist throughout the economy, but the problem drags on in the air travel sector, where more extensive employee training is usually required. Steven Senne / APOutdated technology and infrastructureThere is near-universal agreement that the infrastructure underpinning segments of America's air travel system is outdated and vulnerable. Rep. Sam Graves, R-Montana, said the incident highlighted "a huge vulnerability in our air transportation system." Air travel should be predictable and consistent, and you shouldn’t have to wonder if air traffic control is going to be working today as you head to the airport.

Elizabeth Holmes, the founder of disgraced biotech firm Theranos, bought a one-way ticket to Mexico shortly after she was convicted of fraud last January, a court filing submitted Thursday alleges. Holmes was found guilty on four counts of lying to investors on Jan. 3, 2022. Shortly thereafter, federal prosecutors allege in the filing, Holmes bought a flight to Mexico departing Jan. 26, 2022 without a scheduled return trip. "Only after the government raised this unauthorized flight with defense counsel was the trip canceled," prosecutors say. U.S. District Court Judge Edward Davila ordered Holmes to surrender herself into custody by April 27.

If you bought a period underwear product made by Thinx, you may now be entitled to a refund thanks to a class-action lawsuit settlement announced in November. Plaintiffs in the suit accused Thinx of using — and not telling customers about — potentially harmful chemicals known as PFAS in the underwear. The company has agreed to provide up to an additional $1 million if needed to cover valid claims. As part of the settlement, Thinx denied all the allegations leveled by the plaintiffs, and asserted that the settlement is not an admission of guilt. Thinx customers may receive a $7 refund for each purchase of up to three pairs of Thinx Period Underwear reflected in Thinx’s records, or for which they provide a valid proof of purchase.

The court trial to decide whether a tweet Elon Musk sent in 2018 cost Tesla investors millions of dollars will resume Friday, with Musk himself potentially taking the stand. Tesla shareholders are suing the company to recoup losses they say they suffered amid Musk's claims that he had "secured" money to take the company private at $420 per share. Had the plan ultimately materialized, people who owned shares of Tesla at the time could have earned profits on their holdings. After the trial adjourned Wednesday, Porritt told The Associated Press he hopes to call Musk to the stand Friday after two other witnesses testify. Littleton told the nine-person San Francisco jury that Musk’s claim about the financing alarmed him.

Opening arguments kick off Wednesday in a trial that will see Tesla face off against shareholders who are accusing the company of misleading them over a tweet by Elon Musk that stated funding had been "secured" to take the electric car company private. Lead shareholder plaintiff Glen Littleton is seeking billions of dollars in damages over the August 2018 tweet, which prompted a brief rise in Tesla's stock price. Shares of company stock began a steady decline that continued into the following year. Musk and Tesla were separately fined $20 million and Musk was forced to step down as Tesla's chairman. He also agreed to a requirement to have lawyers review his statements about Tesla before publishing them on social media.

Microsoft said Wednesday it would cut 10,000 jobs worldwide amid a slowing global economy. In a blog post, Microsoft CEO Satya Nadella said the company was seeking to align its cost structure with projected revenues and where customer demand remained the strongest. “As we saw customers accelerate their digital spend during the pandemic, we’re now seeing them optimize their digital spend to do more with less,” he wrote. Microsoft joins companies including Google's parent Alphabet, Amazon, Facebook and Salesforce among the tech giants that have announced job cuts in recent months. Microsoft has called for 2% revenue growth in the fiscal second quarter, which would be the slowest rate since 2016, CNBC reported.

A former CVS Health nurse practitioner is suing the pharmacy chain for firing her after she refused to prescribe birth control, citing her religious beliefs. Texas resident J. Robyn Strader said in the suit that her Baptist Christian faith prevents her from prescribing contraceptive and abortion-inducing drugs. She said that for six and a half years, CVS granted her a religious accommodation to forego having to prescribe the drugs at the CVS MinuteClinic where she worked. When a customer needed the prescription, she would refer them to a colleague or another CVS MinuteClinic. CVS is facing at least two other lawsuits in federal court brought by former nurse practitioners in Kansas and Virginia who say they were fired over the policy.

Price growth in the U.S. cooled in December as the economy continued to show signs of weakening. Thursday's BLS data showed food prices advanced 0.3% on a monthly basis in December. Economists at Bank of America say Thursday's inflation report is unlikely to cause Fed officials to abandon their plan to aggressively slow the economy through interest rate hikes. "While there are growing signs that inflation has peaked, the Fed is worried about the overheating labor market," the economists said in a report this week. "Our outlook for the December [inflation] report is unlikely to quell those concerns."

While all airlines were affected, one stood out as the grounding of domestic flights had a cascading effect on air travel: Southwest Airlines. According to the flight tracking company Flight Aware, Southwest had as many as 49% of its flights delayed as of noon Wednesday. Anuvu, another site that tracks flights, showed just 7% of Southwest flights were departing on time, compared with 15% for American Airlines, 21% for United Airlines, and 33% for Delta Airlines. Southwest is still reeling from the huge disruption it experienced over the Christmas holiday that saw an estimated 11,000 of its flights canceled. Southwest said Wednesday it would rebook customers on the next available Southwest flight with seats available to the customer’s ticketed destination, at no additional cost.

It is territory infrequently traveled when it comes to the massive and complex U.S. flight system. Instead, each airline has its own policies about what it will do for delayed passengers. The DOT advises that, if a flight is significantly delayed, customers should ask airline staff if the carrier will pay for meals or a hotel room — but neither of these are guaranteed. If a flight has been delayed for more than two hours, or canceled, many airlines have policies that will kick in that allow passengers to get a full refund for the unused portion of their ticket. Southwest Airlines is rebooking customers on the next available Southwest flight with seats available to the customer’s ticketed destination at no additional cost.

Fresh off telling investors last week that it may consider a bankruptcy filing, Bed Bath & Beyond has kicked off a fresh round of layoffs. Bed Bath & Beyond is also eliminating the role of chief transformation officer, CNBC reported. Last Thursday, Bed Bath & Beyond issued a “going concern” warning as it faced the prospect of a critical cash shortfall. In the case of Bed Bath & Beyond, after hitting a pandemic low of about $4 in April 2020, company shares spiraled upward to as much as $35 in the summer of 2021. Bed Bath & Beyond has also faced tragedy in the death of its chief financial officer Gustavo Arnal in September, in what was ruled a suicide.

An official with the U.S. Consumer Product Safety Commission is proposing a ban on gas stoves, calling them a "hidden hazard." "Agency staff plans to start gathering data and perspectives from the public on potential hazards associated with gas stoves, and proposed solutions to those hazards later this year," the statement said. An estimated 40 million American homes still rely on gas stoves. "We ask the CPSC to explicitly evaluate the disparate health outcomes that occur from the coupling of gas stoves with the material realities to which the most vulnerable Americans are subjected, as well as evaluate the health impacts of gas leaks due to gas stoves connections," they wrote. “A ban on gas cooking appliances would remove an affordable and preferred technology used in more than 40% of homes across the country," it said.

Fisher-Price's recalled Rock ‘n Play Sleepers have now been linked to 100 fatalities, the Consumer Product Safety Commission announced Monday. The sleeper was first recalled in April 2019 following reports that infants had rolled from their back to their stomach or side while unrestrained, "or under other circumstances," the commission said. "Fisher-Price notes that in some of the reports, it has been unable to confirm the circumstances of the incidents or that the product was a Rock ‘n Play Sleeper," the Commission said. NBC News has asked Fisher-Price to clarify its claims about customers using the device improperly. Consumers should stop using the Rock ‘n Play immediately and contact Fisher-Price for a refund or voucher.

Ron DeSantis will seek to bring Disney's special governing district under direct state control in a bid to end the entertainment giant's multi-decade arrangement with the Sunshine State. In a document posted to the website of Osceola County, which also borders Orange County and Reedy Creek, notice was given that the proposed legislation would leave no current aspect of Reedy Creek untouched. Florida legislators already voted in a special session last year to dissolve all special districts like Reedy Creek in Florida by June 2023. In response, DeSantis and his allies in the Florida legislature announced they would seek to end the privileges Disney had enjoyed through the special district. “The state of Florida has been very important to us for a long time, and we have been very important to the state of Florida,” Iger said last month.

Trader Joe's is accused in a lawsuit of misleading and endangering shoppers by selling dark chocolate that contains harmful levels of lead and cadmium. Both suits follow a December study by Consumer Reports that tested popular dark chocolate bars for heavy metal content. Using California’s maximum allowable dose level (MADL) as a benchmark, the publication said just five popular dark chocolate bars contained acceptable levels of lead and/or cadmium, while nearly two dozen did not. Trader Joe's Dark Chocolate 72% Cacao was found to contain high levels of lead, and its The Dark Chocolate Lover's Chocolate 85% Cacao product was high in lead and cadmium, according to Consumer Reports' testing. The NCA also pointed to a 2018 settlement it reached with an advocacy group, As You Sow, that established concentration levels for both lead and cadmium that supersede the California maximum allowable dose levels.

Mercedes-Benz is recalling 324,000 vehicles that are at risk of stalling due to a water-intrusion defect. The notice affects Mercedes ML and GLE sport-utility vehicles for model years 2012-2020. The issue stems from a possible design flaw that can cause water to build up in a vehicle's spare wheel well, which can set off a device that causes the engine to shut down. According to the notice, dealers have already been notified of the recall, and owners will be notified before Feb. 21, 2023. Owners will be asked to take their vehicles in for an inspection.

☆ Investment management firm AQR books best year in several strategies
▼ + stars: | 2023-01-06 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

Jan 6 (Reuters) - Investment management firm AQR's Absolute Return Strategy in 2022 saw its best year since its inception since 1998, a source with knowledge of the matter said on Friday. Its Equity Market Neutral Global Value and its Global Macro strategies both posted record years at 44.7% and 42.0% net of fees. Its Alternative Trend Strategy also had its best year ever, with a 48.9% net of fees, the source added. AQR is an investment firm that has hedge fund strategies but also includes long-only and mutual funds. Trend strategies would continue to succeed for AQR during sustained downturns and persistent macro volatility, the source told Reuters.

Peloton has agreed to pay a penalty of more than $19 million after the Consumer Product Safety Commission said the exercise company failed to report potential hazards in using its treadmill and sold previously recalled products. Nonetheless, the safety commission said, Peloton did not immediately report the injuries to the commission. Ultimately, 150 people, pets and/or objects were pulled under the rear of Peloton's Tread+ treadmills, resulting in 13 injuries. In May 2021, Peloton and the commission jointly announced the recall of the Tread+ treadmill, but Peloton subsequently sold 38 more of the recalled treadmills via Peloton personnel and through third-party delivery firms, the CPSC said. "By failing to report these incidents to the Commission immediately, Peloton not only violated the Consumer Product Safety Act, but also consumers’ trust."

American Airlines illicitly retaliated against flight attendants who reported toxic fumes entering airplane cabins, according to an investigation by the Occupational Health and Safety Administration (OSHA). According to a whistleblower investigation initiated in August, the Texas-based carrier responded to the flight attendants' complaints by docking attendance points and discouraging them from reporting work-related injuries and illnesses. "The fact that American Airlines is assigning points that can lead to termination for lingering effects of toxic fume inhalation and other work-related injuries is unacceptable," the association said. In a statement, American said: "The safety of our team members and customers is always American’s top priority. We are reviewing the findings of the OSHA investigation."

Southwest finished first in economy and budget airline rankings published by the consumer research firm last May. Analysts say that Southwest's position among consumers remains strong despite the airline leaving hundreds of thousands of passengers stranded over the Christmas holiday weekend. "People think you're getting great value for the money," said Michael Taylor, managing director for travel, hospitality and retail at J.D. On Tuesday, the airline said it would issue 25,000 rewards points to anyone whose flight was affected. Taylor at J.D.

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