>>Stocks Close Higher, S&P 500 Finishes Above Record
(New York, NY) -- Wall Street closed Wednesaday with stocks higher. This comes as the S&P 500 closed at an all time high. It's also as investors are hopeful the Federal Reserve will cut interest rates this year after weak labor market numbers were released this morning. At the closing bell, the Dow Jones Industrial Average gained 96 points to 38-807. The S&P 500 rose by 62 points to 53-54. The Nasdaq gained 330 points to 17-187.
>>Antitrust Case Involving NFL's Sunday Ticket Heads To Trial
(Los Angles, CA) -- The NFL is headed to court over it's Sunday Ticket package. In 2015, subscribers to the package filed a class action lawsuit claiming the league used its agreements with broadcast partners to keep tight control over telecast distribution. They argue that allowed DirecTV to artificially inflate prices for Sunday Ticket as the only distributor for out-of-market games. The trial got underway Wednesday in Los Angeles with jury selection and is expected to last several weeks. The lawsuit is asking to award home and commercial subscribers seven-billion dollars in damages.
>>Report: FTC To File Antitrust Suit Against Big Alcohol Distributor
(New York, NY) -- The FTC is reportedly going to file an antitrust lawsuit against the country's largest alcohol distributor. Sources tell CNBC that a suit could be filed in a matter of weeks against Southern Glazer's Wine and Spirits, for allegedly providing "secret kickbacks" to large retailers and for violating an antitrust law. Southern Glazer's distributes alcohol for over seven-thousand brands in 44 states and reported over 26-billion dollars in revenue last year. Both the FTC and Southern Glazer's have not commented on the report.
>>Rubio's Coastal Grill Files For Bankruptcy
(Sacramento, CA) -- Rubio's is filing for bankruptcy. The California-based mexican restaurant chain will close down 48 locations, keeping 86 open in California, Arizona, and Nevada. Rubio's says "the rising cost of doing business in California" is driving the bankruptcy. The state raised the minimum wage for workers at large fast food chains from $16-bucks per hour to $20-bucks per hour. The bankruptcy petition says Rubio's has over 100-million-dollars in debt.
>>Study: Majority of Americans Have Negative View of Tipping
(Undated) -- A new study concludes that the majority of Americans have a negative view of tipping. Bankrate Senior Industry Analyst Ted Rossman says over a third say tipping culture has gotten out of control. Rossman says that overall, 59 percent of Americans are annoyed with tipping, and the percentages increase with younger generations. He says the younger you are, the more likely you are to stiff your server at a restaurant. Rossman adds that rising prices and the increased number of gig economy jobs that rely on tips, have added to consumers retreating from the practice.
>>Disney And DeSantis To Announce $17B Deal
(Tallahassee, FL) -- Florida Governor Ron DeSantis is expected to approve a 17-billion-dollar investment deal with Disney World. A state tourism board gave an initial green light on Wednesday to a deal that could include new additions to the theme park as well as commitments from Disney to help develop housing for its employees, with Florida promising to maintain the necessary infrastructure for the park. The governor's office and Disney have been feuding since 2022 when the Florida legislature passed a law banning lessons concerning sexual orientation and gender identity through the third grade.
