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"The Exclusive Poultry and owner Tony Bran willfully withheld workers' hard-earned wages, endangered young workers and retaliated against employees to conceal their wrongdoing," said Jessica Looman, administrator of the Labor Department's Wage and Hour Division. Labor investigators repeatedly went to the company's poultry processing locations and said in affidavits they saw young workers they estimated were 14 to 17 years of age, but the workers refused to talk and would run from them. The Labor Department told NBC News it subsequently confirmed that some of the workers were as young as 14. Workers allegedly told investigators that minors who worked at the company were hidden in closets and bathrooms when the investigators arrived so they would not be found. In fall 2022, the department found more than 100 children, some as young as 13, cleaning slaughterhouses for a Midwestern firm.
Persons: Tony Bran, Jessica Looman, Anthony McClaren, McClaren, Bran, Biden Organizations: Labor Department, Aldi, Ralphs, Kroger, Labor, NBC, NBC News, Department of Labor, Workers Locations: Los Angeles
AdvertisementIn today's big story, we're looking at the growing tension at AWS with rising employee burnout. Just like OpenAI's ChatGPT or Google's Bard, Amazon Q is a generative AI chatbot users can talk to like a human. Amazon Web Services, which developed Amazon Q, announced the new product under the fanfare of its annual event in Las Vegas, AWS re:Invent. Business Insider's Eugene Kim, our resident Amazon expert, has a report on the growing tension and burnout among AWS employees. Jon Krause for InsiderThe burnout at AWS reminds me of another company at the top of its field facing turmoil: Goldman Sachs.
Persons: , you've, Taylor, Pena Popo, Noah Berger, Bard, Insider's Eugene Kim, ChatGPT, Jon Krause, Goldman Sachs, Goldman, David Solomon, haven't, BI's Dakin Campbell, Bethany McLean, Goldman aren't, Goldman's, Sylvain Gaboury, Patrick McMullan, Slaven, The New York Times Elon Musk, Tesla, They've, Joe Santagato, Elon Musk, Drazen, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Spotify, Getty, Web Services, Microsoft, Goldman, Slaven, The New York Times, Amazon, Business, American Express, Federal, Paris, Paralympic, Kroger, Dell Locations: Las Vegas, Austin , Texas, New York City, San Diego, London, New York
Consumers shouldn't eat pre-cut cantaloupe if they don't know the source, U.S. health officials said Thursday, as the number of illnesses and recalls tied to a deadly salmonella outbreak grows. At least 117 people in 34 U.S. states have been sickened by contaminated cantaloupe, including 61 who were hospitalized and two who died, according to the Centers for Disease Control and Prevention. Because of the scope of the recalls and potential uncertainty about the source of the cantaloupe, health officials warned consumers to be cautious. Political Cartoons View All 1274 Images“If you cannot tell if your cantaloupe, including pre-cut cantaloupe or products containing pre-cut cantaloupe is part of the recall, do not eat or use it and throw it away,” the FDA said in a statement. Illnesses typically last four to seven days.
Persons: Bix Produce, what's Organizations: Centers for Disease Control, CDC, Kwik Trip, Kroger, U.S . Food, Drug Administration, FDA, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: U.S, Canada
Food inflation is slowing down heading into 2024, according to the largest supermarket chain in the US. Executives at Kroger said they expect food inflation "in the low single-digits'" in the new year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Food inflation peaked over the last two years in June 2022, when federal data showed prices rising 9%. Walmart is also expecting relief from food inflation, CEO Doug McMillon said earlier this month.
Persons: , Gary Millerchip, Kroger, Millerchip, Rodney McMullen, Doug McMillon Organizations: US, Kroger, Service, Bank of America, Walmart Locations: Nashville , Tennessee
Kroger CEO: We continue to expect 'slight inflation' in 2024
  + stars: | 2023-11-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKroger CEO: We continue to expect 'slight inflation' in 2024Kroger CEO Rodney McMullen joins 'Squawk on the Street' to discuss what led McMullen to downgrade Kroger's expectations on sales growth, any big changes in consumer behavior during the quarter, and more.
Persons: Rodney McMullen, McMullen Organizations: Kroger
Stocks, international currencies, and bitcoin have also rallied, with traders betting the Federal Reserve is done lifting interest rates. In Europe, the Stoxx Europe 600 inched higher after data showed French inflation softening in November. Up ahead: Tesla will update investors on the Cybertruck. The Fed’s preferred inflation gauge, the PCE, or personal-consumption expenditures price index, is also due. Economists expect to see signs of softening inflation.
Persons: Stocks, Tesla, Brent Organizations: Bloomberg U.S, Federal, Nasdaq, Stock, Dow, Treasury, RBC, Kroger, Dell, Marvell, PCE Locations: Russia, Europe
Morning Bid: November bids adieu with inflation data, OPEC
  + stars: | 2023-11-30 | by ( ) www.reuters.com   time to read: +5 min
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. With signs of turn emerging in Federal Reserve policy guidance and October PCE inflation readings set to encourage that later in the day, rate cut fever was in full flow across the Atlantic too. Headline annual inflation in the bloc fell as low as 2.4% - within arm's length of the ECB's 2% target. Later on Thursday, U.S. PCE inflation for the prior month is pencilled to fall 3.0% from 3.4% - with a core also ebbing to 3.5%. "Monetary policy is in a good place," Cleveland Fed President Loretta Mester said on Wednesday, echoing comments from previously hawkish Fed governor Christopher Waller the previous day.
Persons: Brendan McDermid, Mike Dolan, policymaker Fabio Panetta, Loretta Mester, Christopher Waller, John Williams, Christine Lagarde, Megan Greene, Kroger, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Treasury, Federal, European Central Bank, Bank of Italy, policymaker, U.S ., ECB, Cleveland Fed, Wall, OPEC, Dallas Fed, PMI, York Federal, Bank of England, Academy Sports, Rock Biotech, Titan, Reuters, Thomson Locations: New York City, U.S, China, Canada, Vienna, Automotive, Duluth, BOS, Jan
Traders work on the floor of the New York Stock Exchange (NYSE) on November 15, 2023 in New York City. U.S. stock futures opened higher on Wednesday night as all three major stock indexes prepared to wrap a winning November. S&P 500 and Nasdaq 100 futures climbed 0.07% and 0.10%, respectively. The tech-heavy Nasdaq Composite slipped 0.16% during the day, but is also roughly 0.7% away from its 2023 closing high. The S&P 500 is up 8.5% in November, while the Nasdaq has advanced nearly 11%.
Persons: Salesforce, Nutanix, Dow, Jay Woods, We've Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Dow, Freedom Capital Markets, CNBC, Fed, Kroger, Federal Reserve Locations: New York City . U.S, Snowflake, Nutanix
Earnings Exchange: Salesforce, Kroger & Cracker Barrel
  + stars: | 2023-11-29 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings Exchange: Salesforce, Kroger & Cracker BarrelQuint Tatro, Joule Financial founder and president, joins 'The Exchange' to discuss Salesforce, Kroger, and Cracker Barrel.
Persons: Quint Organizations: Kroger, Joule Financial
Mark Cuban is departing "Shark Tank" and selling his majority stake in the Dallas Mavericks. He's been outspoken about his interest in politics for years and almost ran for president in 2020. He denied on Wednesday that he's running for president, but what else could he possibly be doing? download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementLater, Cuban revealed in a CNN interview that he seriously considered running for president in the 2020 race.
Persons: Mark Cuban, He's, , Miriam Adelson, Sheldon Adelson, ABC's, that's, Ross Perot, Joe Biden, who's, Trump, Mark Cuban's, John Boehner, Hillary Clinton, Donald Trump's, America's Organizations: Dallas Mavericks, Service, Hollywood, Mavericks, Cuban, Yahoo, Fortune, Gulfstream, Kroger, Republican, Texas, CNN Locations: , Texas, Dallas
The 2.7 million individual trades were far lower than the 5.2 million trades from the Friday a week prior. In fact, the options market itself is saying there is only a 10% chance these calls expire in the money. Call spread risk reversal: Bought MSTR Dec. $600 call $15.40 Sold MSTR Dec. $650 call $8.85 Sold MSTR Dec. $430 put $7.20 Net credit = 65 cents When one sells a downside put one is taking the risk of purchasing the underlying at the strike of the put that is sold. The options flow in these ETFs suggests traders are betting on lower oil and gas prices. Several big names will be reporting earnings, here is a table of those that have weekly options, their earnings-related implied moves, and our options sentiment score.
Persons: Crypto, MARA, outpacing, ProShares UltraShort Organizations: Coinbase Global Inc, Marathon Digital Holdings, Microstrategy Inc, Bollinger Bands, Bloomberg, Oil, ProShares, Gas, ProShares UltraShort Bloomberg, United States Oil Fund, Hecla Mining Co, Royal, Inc, Intuit, Marvell Technology Locations: United States, Opec, Hecla, Kroger
(Treasury yields tend to move inversely to stock prices; as yields fall investors seeking better returns move money back into the stock market). The chipmaker once again came into its quarterly print with super-high expectations on the Street, but once again exceeded them . For this reason, we put more emphasis on monthly economic releases, such as the aforementioned personal spending report. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: Dow, Estee Lauder, Einstein, Jim Cramer's, Jim Cramer, Jim, Locker, Jeff Greenberg Organizations: Nasdaq, Federal Reserve, Treasury, Nvidia, Apple, TJX, Bank of Nova, Elbit Systems, Intuit, Hewlett Packard Enterprise, Hormel, Kroger, KR, Academy Sports, TD Bank, Royal Bank of Canada, Dell Technologies, Bank of Montreal, BMO, Jim Cramer's Charitable, CNBC, Universal, Getty Locations: Bank of Nova Scotia, AMBA
Wall Street is set to wrap up a strong month next week as stocks gun for new highs heading into year end. The Nasdaq Composite is on pace to close out the month with a double-digit advance, up 10%. In contrast to September and October, which are typically weak periods for stocks, the seasonal patterns are now in favor of equities. This week, LPL Financial's Adam Turnquist pointed out that more than half, or 55%, of S & P 500 stocks closed above their 200-day moving average. It's set to show a rise of 0.2%, down from the 0.7% rise in the prior month, according to FactSet consensus estimates.
Persons: Stephen Suttmeier, Sam Stovall, That's, CFRA's Stovall, What's, LPL, Adam Turnquist, Turnquist, Wolfe, Rob Ginsberg, Ginsberg, Morningstar's Dave Sekera, Sekera, Morningstar's Sekera, Salesforce, Gartner Organizations: Nasdaq, Bank, Treasury, Costco Wholesale, Kroger, New, Dallas Fed, Richmond Fed, Hewlett Packard Enterprise, NetApp, Intuit, PCE Deflator, Chicago PMI, PMI, Manufacturing, Dominion Energy, Cboe, Cardinal Health Locations: Chicago
Retailers and tech firms are developing new ways to detect — and prevent — theft. Companies like Walmart and Kroger are using cameras, AI sensors, and other tech at self-checkouts. These days, companies like Walmart, Kroger, and more are outfitting their self-checkouts with cameras, AI-enabled sensors, and other high-tech tools to tamp down theft at self-checkout stations. They previously said, "As with other retailers, theft is always a challenge, and we're always looking for better ways to tackle this issue. The presence of a person is one of several low-tech ways retailers have managed to curb shoplifting at self-checkout lanes.
Persons: , Craig Szklany, Dominick Reuter, we're, Sensormatic, Kroger, Abhinai Srivastava, haven't, Srivastava, Sensormatic's Szklany Organizations: Companies, Walmart, Kroger, Service, Business, BP
What’s open and closed on Thanksgiving Day 2023
  + stars: | 2023-11-22 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +3 min
New York CNN —Thanksgiving Day has looked different in recent years. Sights of people lining up at 5 pm Thanksgiving Day at large retailers to catch Black Friday deals are rare since the onset of the pandemic. Here’s what’s open and closed on Thanksgiving Day 2023. RetailTarget is closed on Thanksgiving Day. Brendan Smialowski/AFP/Getty ImagesPharmaciesMost Walgreens locations will be closed, marking the first time the pharmacy chain has closed stores on Thanksgiving day, it said.
Persons: Here’s, , Brian Cornell, We’ll, John Furner, Nordstrom, Brendan Smialowski, Tom Thumb, Kroger, Felix Mizioznikov, – CNN’s Jennifer Korn Organizations: New, New York CNN, Walmart, NBC, CVS, Getty, Walgreens, CVS Health, ., Aid, Foods, Albertsons, Safeway, Aldi, Costco, Nasdaq, New York Stock Exchange, UPS, FedEx Locations: New York, Washington ,, AFP, Brenham , TX, USA, Texas, Alamy
Certain stocks, including Cintas and Chipotle Mexican Grill , may be due for a pullback as the market hovers close to overbought conditions, according to one popular metric. The broader market is on the cusp of entering overbought territory, however, according to Wolfe Research. A stock with a 14-day RSI greater than 70 is considered to be overbought and at risk of a pullback. American Express , another company that has seen a boost in its stock price this week, could also be due for a pullback. Analysts covering the company forecast a 7.8% upside for its stock price, and just above 50% rate it a buy.
Persons: Thursday's, Jasper Bibb, TD Cowen, Ingersoll Rand Organizations: Nasdaq, Dow Jones, Wolfe Research, CNBC, Truist Securities, American Express, Barclays, Qualcomm, TransDigm, APA Corp, Marathon Oil, Marathon, APA, UBS, Kroger, Coterra Energy, Cisco Systems Locations: overbought
Walmart wants to lower your grocery bill
  + stars: | 2023-11-16 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +3 min
The company said it hopes falling food prices will free up shoppers' wallets to buy other merchandise. AdvertisementJust as inflation refers to rising prices, "deflation" refers to prices falling — and even though it may help consumers, it presents a surprisingly tricky challenge for businesses and policymakers. In contrast to periods of rising inflation in which corporate profit margins typically grow, deflation tends to squeeze companies in a few ways. AdvertisementThe upside of falling food prices for Walmart — more than say Kroger or Albertsons — is that Walmart sells a whole lot more than groceries. "If the food prices come down," McMillon said, "that'll free up dollars to be spent in general merchandise."
Persons: , Doug McMillon, it's, McMillon, John Furner Organizations: Walmart, Service, Rabo Research, Albertsons
Britain's Ocado secures first deal beyond grocery retail
  + stars: | 2023-11-15 | by ( ) www.reuters.com   time to read: +2 min
An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. It also holds a 50% share of Ocado Retail in the UK in a joint venture with Marks & Spencer (MKS.L). The deal with McKesson will see Ocado receive upfront fees during the construction process with the final payment upon final installation. Ocado said the impact of the deal will be minimal on cash flow and earnings in its current financial year. In July, the group reported a return to first half underlying profit.
Persons: Toby Melville, Canada Ocado, McKesson, Tim Steiner, we're, Spencer, Ocado, James Davey, Prerna Bedi, Shilpi Majumdar, Kirsten Donovan, Barbara Lewis Organizations: REUTERS, Kroger, Casino, Marks, Times, Thomson Locations: London, Britain, Canada, Ocado, United States, Japan, France, U.S, Bengaluru
LSEG Workspace, a financial news and data platform, calculated inventory turnover ratios of 30 major U.S. retailers for Reuters. "I am relatively pessimistic about the holiday season," said Gerald Storch, retail consultant and former Target vice chairman and ex-CEO of Hudson's Bay. Department stores' holiday season is "likely not going to be that strong," said David Swartz, a Morningstar analyst. Reuters Graphics Reuters GraphicsTo be sure, inventory turnover is not the only metric Wall Street investors use to judge retailers' inventory levels. Some are already slashing prices and dangling discounts to clear excess inventory before Black Friday, the start of holiday shopping season.
Persons: King, King of Prussia, Sarah Silbiger, Gerald Storch, Jeff Bornino, David Swartz, Ulta, pare, Jason Benowitz, Joseph Feldman, Jane Hali, Nordstrom, Brian Mulberry, Savyata Mishra, Ananya Mariam Rajesh, Richa Naidu, Siddharth Cavale, Aishwarya Venugopal, Rod Nickel Organizations: REUTERS, Dollar, Walmart, Reuters, North America, Kroger, Department, Morningstar, TJX Companies, Dick's Sporting, Reuters Graphics Reuters, Roosevelt, Telsey Advisory, Research, Associates, Nordstrom, Zacks Investment Management, Thomson Locations: King of, King, King of Prussia , Pennsylvania, U.S, Hudson's, North
A Washington homeowner says he's living in a van after a man moved into his home and stopped paying rent. And all the media and other attention is great, but it doesn't really do me any good," Jason Roth told Insider. AdvertisementAdvertisementAfter paying just a portion of one month's rent, Roth says Hunter stopped paying anything at all. According to court documents viewed by Insider, Hunter told Roth in an email in July that he wanted to pay his outstanding rent. In California, an Airbnb host could not evict a renter who stayed in a home for 570 days after the tenant stopped paying rent and reported the host to the city.
Persons: , he's, Jason Roth, Roth, Kareem Hunter, Hunter, I'm, Roth Hunter Organizations: Service, Seattle, Kings County Superior Court, Kroger Locations: Washington, Kings County, Airbnb, California
What’s open and closed on Veterans Day 2023
  + stars: | 2023-11-10 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +2 min
New York CNN —Veterans Day honors active and former US service members. However, since that day falls on a Saturday this year, some will observe the holiday on Friday, November 10. Here’s what will be open and closed on Veterans Day 2023 and the day on which some will observe it. On Friday, the day before Veterans Day, FedEx will operate as normal except for modified service for FedEx Express and FedEx Ground Economy. On Saturday, FedEx will close FedEx Ground, FedEx Ground Economy and FedEx Freight.
Persons: JPMorgan Chase, Wells, Justin Sullivan, Mario Anzuoni, Joe Raedle Organizations: New, New York CNN, Veterans, Banking Federal, Governors, Bank of America, Saturday, JPMorgan, Bank, Citibank, The New York Stock Exchange, Nasdaq, Veterans Day, FedEx, FedEx Express, Economy, FedEx Freight, United States Postal Service, Reuters Government, Miami - Dade Public Library, Getty, Target, Walmart, Kroger Locations: New York, Wells Fargo, San Bruno , California, , Miami, Miami , Florida
The organizers of a recent retail pharmacy staff walkout are helping to launch a national push to organize those employees on Wednesday, a potential step to wide-scale unionization of thousands of pharmacists and technicians across the U.S. for the first time. Both Walgreens and CVS also said last week that the walkout of their pharmacy staff last week had a minimal impact on their pharmacy operations. IAM Healthcare and the walkout organizers will then launch unionization campaigns in certain districts or areas with high support for organizing. The Pharmacy Guild hopes to get 100,000 pharmacists and technicians to fill out the form, Jerominski said. He also predicted that 90% of pharmacists working for Walgreens and CVS will be unionized in five years.
Persons: unionize, Shane Jerominski, aren't, Jerominski Organizations: Walgreens, IAM Healthcare, CVS, Kroger, CNBC Locations: Deerfield , Illinois
It's also developed high-tech kitchen equipment to speed up and simplify cooking. Prior to Wonder, Lore founded and sold e-commerce startup Jet.com to Walmart for $3.3 billion in 2016. Food-delivery company Wonder Group has gotten a cash infusion from Nestle , as the startup looks to sell high-tech kitchen equipment and prepared ingredients to businesses such as hotels, hospitals and sports arenas. Some of those companies may also want Wonder's kitchen equipment, Lore said. The partnership will start with Nestle making pizza and pasta tailored for Wonder's kitchen equipment, along with selling the kitchen equipment to clients.
Persons: Bobby Flay, José, It's, Lore, Marc Lore, Melissa Henshaw, that's, Wonder, Andrés, Michael Symon, Uber, DoorDash Organizations: Walmart, Amazon, Nestle, CNBC, Kroger, Foods Locations: New Jersey, New York, New York , New Jersey, Connecticut
She moved to Tulsa for the Tulsa Remote program, with a one-year stipend of $10,000. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Lillian Griffith, a 25-year-old data engineer at General Motors, who moved to Tulsa for the Tulsa Remote program. I initially heard about the Tulsa Remote program through my mom, who joined the program in 2021 and then referred me to it later. I applied for the Tulsa Remote program in early 2022 and it only took me about a week to get tentatively approved. I told her that I moved here for the Tulsa Remote program, and then she said she was also in the program.
Persons: Lillian Griffith, , It's, I've, I'm, Kroger, we're, Lizzo, Marcus King, There's, Elizabeth, we've, I'd, haven't Organizations: General Motors, Tulsa, Service, Tulsa —, Georgia Southern University, Cumming , Georgia —, Kroger, Artists, Paramore, Tulsa Fairgrounds, Greenwood Locations: Tulsa, Alpharetta, Georgia, , Tulsa , Oklahoma, Oklahoma, Roswell , Georgia, Roswell, Atlanta, Arkansas, Atlanta . In Georgia, Cumming , Georgia, Detroit, Oklahoma City
The company's ongoing efforts are focused on how it can recruit, retain and reward pharmacy staff, the spokesperson said. CVS pharmacists make $61.44 an hour on average, while Walgreens pharmacists make $53.85 per hour on average, according to employment website Indeed. However, some Walgreens pharmacy staff told CNBC that the company continues to push their stores to hit performance goals for tasks like verifying prescriptions. IAM Healthcare did not immediately respond to a request for comment, while UFCW has expressed its support for the recent walkouts staged by Walgreens and CVS pharmacy staff. People make their way near a Walgreens pharmacy in New York City, March 9, 2023.
Persons: Brian Snyder, Shane Jerominski, walkouts, Stephanie Keith, I've, Irfan Khan, aren't, Jerominski, UFCW, Leonardo Munoz Organizations: Walgreens, Reuters, CNBC, CVS, Rite Aid, Kansas City, Bloomberg, Getty, Food and Drug Administration, Pfizer, CVS Pharmacy, Los Angeles Times, Kroger, IAM Healthcare, United Food, Commercial Workers International Union, Corbis Locations: Somerville , Massachusetts, Kansas City, Kansas, U.S, Massachusetts , Pennsylvania, California , Texas , Michigan , Missouri, Indiana, New York, Eagle Rock , CA, Canada, New York City
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