>>Stocks Close Lower as Dow Slump Continues
(New York, NY) -- Wall Street closed lower Thursday with the Dow falling for the sixth day in a row. The markets retreated after Thursday's producer price index showed wholesale prices rose point-four percent last month. Tech shares led the decline with Adobe falling more than 13 percent after a weaker-than-expected 2025 outlook. At the closing bell, the Dow Jones Industrial Average fell 234 points to 43-914. The S&P 500 dropped 32 points to 60-51 and the Nasdaq lost 132 points to 19-902.
>>Trump Rings Opening Bell/Talks Economy (New York, NY) -- President-elect Trump says he wants the American worker to be invested in the economy. Trump told CNBC on Thursday that he wants the American worker to wake up and love to go to work for a lot of money. He made those comments while ringing the opening bell at the New York Stock Exchange on Wall Street. Trump also discussed what he learned during his first stint as President. He said he didn't know a lot of people then, but now he has, in his words, people coming out of his ears.
>>Albertsons Sues Kroger After Merger Deal Collapses
(Phoenix, AZ) -- Albertsons is suing Kroger following a decision by a federal judge to block their merger plans. The grocery chain filed a lawsuit against its main competitor on Wednesday, accusing it of breaching its contract and claiming Kroger failed to do all it could to secure regulatory approval of their 25-billion-dollar merger deal. Albertson's is seeking billions of dollars in damages from Kroger along with a 600-million-dollar termination fee. A Kroger spokesperson called the lawsuit "an attempt to deflect responsibility" following Albertsons' alleged multiple breaches of the agreement.
>>Trump Supports Dockworkers' Union On Automation
(Palm Beach, FL) -- President-elect Trump says he supports the dockworkers union's position against automation ahead of a possible strike. In a post on Truth Social, Trump says he met with leaders of the International Longshoremen's Association, the union that represents the dockworkers. Trump said in the post that he knows "just about everything there is to know" about automation and how dockworkers would be affected. He added that the "amount of money saved is nowhere near the distress" automation would cause Longshoremen. The dockworkers union could go on strike as early as mid-January.
>>New Rule Targets Overdraft Fees
(Washington, DC) -- New rules out of Washington are taking aim at overdraft fees. The Consumer Financial Protection Bureau is moving to close a loophole it says allowed big banks to rake in massive profits from overdraft fees. Under the new rule, banks with more than ten-billion-dollars in assets will be given three options: cap overdraft fees at five-dollars, set fees to only cover costs and losses or treat the fees like loans with disclosure of rates and terms. The agency estimates the rule change will save people five-billion-dollars a year. The rule, which takes effect next October, is the latest effort by the Biden administration to crack down on so-called junk fees.
>>Report: Amazon To Donate $1M To Trump's Inauguration
(Seattle, WA) -- Amazon is planning to donate one-million dollars to President-elect Trump's inaugural fund. The Wall Street Journal reports Amazon founder Jeff Bezos is preparing the donation ahead of his visit to Mar-a-Lago next week. The donation is part of an effort by Bezos and other tech leaders to smooth ties with the incoming administration. The paper reported Wednesday that Mark Zuckerberg directed Meta Platforms to also make a one-million-dollar donation to the inaugural fund. Trump has often criticized Big Tech and feuded with Bezos over his ownership of the Washington Post.
>>Paxton Sues Chemical Giants Over Use Of 'Forever Chemicals'
(Austin, TX) -- Texas Attorney General Ken Paxton is suing 3M and DuPont over their use of chemicals known as PFAS in a large number of consumer products. Wednesday's lawsuit claims the companies misrepresented the safety of the chemicals in products such as Teflon and Scotchgard. PFAS are resistant to heat, oil, stains, grease, and water, and have been used in consumer products since the 1940s. They're known as "forever chemicals" because they don't break down. They've been linked to cancer, birth defects, and liver damage.
>>Price of Eggs Continues To Rise
(Undated) -- Many Americans are getting sticker shock when it comes to the price of eggs. The consumer price index released this week shows the average retail price of eggs has risen 38-percent since November 2023. According to the U.S. Bureau of Labor Statistics, a dozen large Grade A eggs cost three dollars and 65 cents last month. That's up from two-14 a year earlier. Economists say the price hike is a result of bird flu, which has reduced the egg supply -- and high demand for eggs around the holiday season. The record price for eggs was four-82 a dozen in January 2023.
>>Party City To File For Second Bankruptcy
(Woodcliff Lake, NJ) -- The future of Party City is up in the air, as it reportedly plans to file for a second bankruptcy. The party supply retailer declared Chapter 11 bankruptcy in January of last year with around one-point-eight billion in debt. However, Bloomberg reports it continues to lose money and is behind on rent on some of its more than 800 stores nationwide. Party City exited bankruptcy in September, when it closed more than 60 stores and canceled around one-billion in debt.
