Deflation risk resurfaces as wholesale prices fall again
Washington report notes a 0.3 percent May drop in the Producer Price Index and a 1.9 percent March–April plunge, led by energy and other goods. Economists warn deflation could threaten growth, while Greenspan signals possible rate cuts at the June meeting to avoid a deflationary spiral.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Labor Department
Mark Zandi
Economy.com
Fed
Alan Greenspan
United States
Greenspan
Maury Harris
UBS
IEA nudges up stocks as oil prices slip again
NEW YORK (Dow Jones AP) Crude futures tumbled for a second session after the IEA raised March OECD stock estimates by a record 79 million barrels, boosting talk of a possible OPEC surplus. Front month light crude shed to 30.65 on the NYMEX before a late drop, with Brent at 27.46 on ICE.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/AP
Furmres
International Energy Agency
IEA
Organization For Economic Cooperation and Development
Organization of Petroleum Exporting Countries
IFR Pegasus
Tim Evans
New York Mercantile
Tom Bentz
BNP Paribas Futures
London
International Petroleum Exchange
Brent
Bentz
Doug MacIntyre
Department of Energy
Energy Information Administration
P G expands minority advertising partnerships
Procter and Gamble will widen ties with Burrell of Chicago and Carol H Williams Advertising of Oakland to target African American consumers. The July 1 move adds assignments for brands including Crest Tide Bounty Charmin Folgers Pampers and Pringles. Chief marketing officer Jim Stengel says the partnerships will boost effective brand building. Howard Buford of Prime Access calls the step a significant shift for minority ad outreach and expects industry-wide reverberations.
MENTIONED IN THIS ARTICLE
Cincinnati
Procter & Gamble Co
Burrell
Chicago
Carol H. Williams
Oakland
P&g
Jim Stengel
Crest
Tide
Howard Buford
Prime Access
New York
Buford
Bob Evans celebrates 50th anniversary and empire growth
The Bob Evans chain began with a single sausage recipe in Gallia County Ohio and expanded into a 1.1 billion dollar enterprise with 522 restaurants in 22 states serving 161 million yearly. The company marks its 50th anniversary with a museum in the original farmhouse and notes its Nasdaq listing since 1963.
Bob Evans Growth From Diner to 522 Restaurants
Founded in 1953 by farmer Bob Evans and five relatives, the chain opened publicly in 1963 with 160,000 shares at $9. It expanded from a Galloolis 12 stool diner to 522 restaurants in 22 states, plus Sausage and products sold in 13,300 grocers. Fiscal 2003 profits reached $75.1 million or $2.10 per share, on $1.1 billion in sales, up from prior year.
MENTIONED IN THIS ARTICLE
Rio Grande
Bob Evans
Bob Evans Farms Inc
Evans
Jewell
Galloolis
Stocks slide as rate cut hopes fade amid pensive market
U S markets closed lower after the University of Michigan consumer sentiment index fell to 87 2 in June from 92 1 in May fueling profit taking despite hopes of a June rate cut by the Federal Reserve. Dow dropped 79 43 to 9117 12, Nasdaq fell 27 13, S P down 9 90 with weekly gains mixed. Investor caution cited inflation and deflation risks, while Fed rate cut bets pushed forward.
MENTIONED IN THIS ARTICLE
NEW York
University of Michigan
Dow Jones Industrials
Standard & Poor
Consumer Report
Barry Berman
Robert W Baird & Co
Milwaukee
Michigan
Dow Jones
S&p
Dollar slides as weak data upends currency calm
The dollar fell sharply in choppy Friday trading after weak U.S. data triggered widespread position adjustments. The euro rose to 1.1859, the dollar traded at 117.49 yen, and Swiss franc and Canadian dollar quotes eased. Oracle edged higher after upbeat earnings and analyst upgrades.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/AP
U.S
University of Michigan
Bank of Japan
Also Mentioned on This Page
Japan
Roger Ferguson
Procter & Gamble
Ohio
Gallia County
Bob
Stewart Owens
Columbus
Rob Evans
Diana LeMaster
Oak Hill
Berman
Keith Keenan
Wall Street Access
Wall Street
Rai Sera
Kei
Guidant
Midiary
Oracle
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