Author: Press Room

The largest North American producer of french fries is shutting down its plant in Washington and laying off hundreds of employees, company officials announced in a recent earnings report. Lamb Weston Holdings, Inc. president and CEO Tom Werner cited “soft” restaurant traffic and frozen potato demand in an October 1 press release detailing the business’s failures in the first quarter of Fiscal Year (FY) 2025.  Compared to the first quarter of FY 2024, Lamb Weston’s net income declined by 46 percent to $127 million, the company highlighted.  According to Werner, “key actions” to restructure the business include closing its “older,…

On Thursday’s broadcast of MSNBC’s “Andrea Mitchell Reports,” host and NBC News Chief Washington Correspondent and Chief Foreign Affairs Correspondent Andrea Mitchell stated that 2024 Democratic presidential candidate Vice President Kamala Harris “especially” “wanted to be part of the crisis response” to Hurricane Milton. Mitchell said, “[T]his is a bit of a balancing act, because the president, the Vice President, responding to the hurricane, especially she wanted to be part of the crisis response, but also, [there] are very few days left, 26 days until Election Day. So, she’s got to balance what she does.” NBC News Chief White House…

(Bloomberg) — Oil headed for a second weekly gain — after surging by more than 3% on Thursday — as Israel readied plans to retaliate against Iran, raising the specter of disruptions to crude supplies from the Middle East.Most Read from BloombergWest Texas Intermediate steadied near $76 a barrel, on course for a increase of almost 2% this week, while Brent settled at above $79. Israeli Prime Minister Benjamin Netanyahu’s security cabinet met on Thursday to discuss how and when the country was going to respond to Iran’s recent missile attack.The global crude market has zeroed in on potential supply…

At least 28 people were killed in an Israeli strike on a former school building in the Gaza Strip on Thursday, Palestinian medical officials said.The attack on the central city of Deir al-Balah also left dozens of people injured, the Hamas-controlled Health Ministry in the sealed-off coastal territory said.The building was being used to accommodate Gazans who have been internally displaced by the year-old war between Israel and Palestinian Hamas militants.Israel’s military said it attacked a Hamas command centre that was located in the building and that measures were taken to reduce the risk to civilians.The information provided by both…

Shoppers at a Safeway grocery store in Scottsdale, Ariz., on Jan. 3.Inflation has come full circle for the Biden administration.Consumer price growth slowed to its lowest pace since February 2021 — the first full month President Joe Biden was in office, the Labor Department said Thursday in its final inflation report before Election Day.The data, while a bit hotter than expected, points to an economy experiencing cooler inflation even as the job market remains sturdy and interest rates ease.The 12-month Consumer Price Index measured 2.4% in September, slightly higher than expectations of 2.3% but down from 2.5% in August. On…

Former Fall River mayor Jasiel Correia II will remain in prison for his full sentence after a federal judge denied his bid for early release.Correia, 32, is serving what Judge Allison Burroughs called a “generous” six-year sentence after being convicted of wire fraud and extortion worth more than $800,000. Before and during his time as mayor, Correia ran multiple schemes to fund a lifestyle of buying luxury clothing, cars, adult items, expensive trips to restaurants and vacations, repaying student debt and more.In May, the former mayor petitioned for early release, claiming defense attorney Kevin Reddington had been ineffective and had…

American casino operator Wynn Resorts says it has received the necessary approval from the UAE’s gaming regulator US hotel and casino operator Wynn Resorts has obtained the first commercial gambling license granted by the gaming authority in the United Arab Emirates, the company said on Friday, as cited by several media outlets.  The Nevada-based company is currently developing a luxury resort at Wynn Al Marjan Island in Ras Al Khaimah, according to a statement seen by Reuters and Bloomberg. The project is a joint venture between Wynn, Marjan and RAK Hospitality Holding.  In August, Wynn Resorts said that it had invested $514…

The true identity of Bitcoin founder Satoshi Nakamoto has been one of the cryptocurrency world’s enduring mysteries A Canadian software designer has denied that he’s the creator of Bitcoin following the release of a documentary claiming to have solved the mystery surrounding the world’s most popular cryptocurrency.‘Money Electric: The Bitcoin Mystery’, released on Tuesday on US television network HBO, claims that Peter Todd, a Toronto-based contributor to the digital currency’s core programming, is in fact Satoshi Nakamato, the person who founded Bitcoin in 2009. Satoshi stopped posting online and largely disappeared from public life in 2011.The 39-year-old Canadian, who was…

FOMC Minutes stated that some officials would have preferred a 25bps cut, though a substantial majority supported 50bpsBiden-Netanyahu call was positive; US does not yet know the timing of the strike against IranAPAC stocks traded higher, significant outperformance in Hong Kong on fresh PBoC support. European futures point to a slightly firmer openDXY rangebound, NZD & AUD outperform given the above and after Wednesday’s pressureFixed benchmarks remain near Wednesday’s lows while Crude continues to move higherLooking ahead, highlights include Italian Industrial Output, US CPI, Initial Jobless Claims, US Federal Budget, NZ Manufacturing PMI, Chinese M2 Money Supply, ECB Minutes, Tesla…

Judge Tanya Chutkan agreed to unseal Special Counsel Jack Smith’s evidence attached to the 165-page ‘opening brief’ which was already used to attack President Trump. This is Jack Smith’s dirty October surprise. Trump’s lawyers earlier Thursday asked Judge Chutkan to keep Jack Smith’s evidence appendix from public view. President Trump’s lawyers argued in a two-page filing that Jack Smith was trying to interfere in the election by publicly docketing more evidence in the January 6 case. “There should be no further disclosures at this time of the so-called ‘evidence’ that the Special Counsel’s Office has unlawfully cherry-picked and mischaracterized —…