Anheuser-Busch is selling its decades-old New Jersey brewery and is closing two others in California and New Hampshire as part of a broader strategy to optimize production. The Anheuser-Busch brewery in Newark, New Jersey, which opened in 1951 and is one of the company’s longest-running facilities, will be sold to the Goodman Group in 2026. Its Fairfield, California, and Merrimack, New Hampshire, facilities will close in early 2026.The company plans to shift production from these three facilities to its oth ...

Federal Reserve policymakers cut interest rates for the third straight meeting on Wednesday while signaling there may be only one cut next year as rates get closer to a neutral level. The Fed lowered the benchmark federal funds rate by 25 basis points to a range of 3.5% to 3.75%, and its announcement was accompanied by a summary of economic projections – commonly known as the "dot plot" – that includes policymakers' forecasts for the labor market and inflation, as well as the outlook for interest rate cuts. ...

The Coca-Cola Company announced Wednesday that Henrique Braun will become its next CEO, effective March 31, 2026. Braun, the company's executive vice president and chief operating officer, will succeed longtime CEO James Quincey, who will transition to executive chairman after nine years leading the beverage giant, according to an announcement from the company."I’m honored to take on this new role and have tremendous appreciation for everything James has done to lead the company," Braun said in a statement. ...

Over the past year, the Fed has reduced their target rate by 175 basis points. And it now stands at three and a half and three-quarter percent. Noteworthy, in today’s meeting, there were three dissents. Trump’s man, Stephen Miran, wanted a half a point cut. Obama’s man, Austan Goolsbee, didn’t want any rate cut. And the Kansas City Fed’s Jeffrey Schmid, also voted against the rate cut. Stock markets roared with the Dow up almost 500 points, the S&P 500 almost hit a new high, and bond yields came down, inclu ...

Federal Reserve Chairman Jerome Powell refused to weigh in on who could replace him as President Donald Trump meets with prospective contenders to run the world’s most powerful central bank. When asked by FOX Business whether Trump’s public search for a new Fed chair affects his ability to do the job, Powell responded flatly, "No."Powell also declined to say whether he would stay on the Federal Reserve Board of Governors. POWELL REFUSES TO WEIGH IN ON SUPREME COURT CASE THREATENING TRUMP'S TARIFF POLICIES " ...

Federal Reserve Chairman Jerome Powell on Wednesday declined to comment on the upcoming Supreme Court decision that could shape the future of President Donald Trump's trade agenda. "It's not something I want to address here," Powell said during a press conference following the central bank's December interest rate decision. "It's before the courts and we don't think that we help matters by trying to engage," he added.When asked how the Fed would incorporate potential changes to growth and inflation should t ...

Core Points - The Federal Reserve announced its third interest rate cut of the year, lowering the benchmark federal funds rate by 25 basis points to a range of 3.5% to 3.75% to support the labor market despite high inflation [1] - The decision follows previous rate cuts in September and October, marking the first cuts of the year [1] - Policymakers are responding to a slowdown in the labor market and rising inflation, influenced by changes in trade and immigration policy [2] Summary by Sections Interest Rate Decision - The Federal Open Market Committee (FOMC) voted to cut the interest rate by 25 basis points, with nine policymakers in favor and three dissenting [4] - Dissenters included Chicago Fed President Austan Goolsbee and Kansas City Fed President Jeffrey Schmid, who preferred to keep rates unchanged, while Fed Governor Stephen Miran advocated for a larger cut of 50 basis points [4] Economic Context - Economic data indicates a slowdown in job gains and an increase in the unemployment rate through September, alongside rising inflation [5] - The Fed faces challenges in achieving its dual mandate of stable prices and maximum employment amid these economic dynamics [2][5]

PepsiCo said it is eliminating hundreds of products from shelves by early next year following discussions with an activist investor pushing the company to cut costs and streamline its product lineup. On Monday, the food giant, whose brands include Fritos, Gatorade, Doritos, Cheetos and Aquafina, said it is in the process of reducing nearly 20% of the SKUs (stock keeping units) that it sells in the U.S. by early 2026. It has already closed three manufacturing plants and shut some manufacturing lines this yea ...

Kevin Hassett is signaling he’s ready to shake up the Federal Reserve. In an interview with FOX Business’ Larry Kudlow on Tuesday, the National Economic Council director – and Fed chair frontrunner – openly hinted he would overhaul key parts of the Federal Reserve and scrutinize everything from the Fed’s research divisions to its regional presidents."The point is the Fed should be focused on monetary policy and to try to stay out of politics," Hassett said. "And think about how many times in the last couple ...

Cracker Barrel warned during the company's earnings call on Tuesday that its turnaround is moving at a slower pace than hoped after the company was mired in controversy over the summer after an attempted rebrand angered consumers. Cracker Barrel CEO Julie Masino acknowledged that first-quarter results "were below our expectations amid unique and ongoing headwinds" that "our recovery will take time," as the company's teams work to regain momentum."As you are all aware, the past few months have been difficult ...