Market dips as Covid fears curb rally gains
Stocks fell on Wednesday as the S&P 500 slipped 0.4 percent after a rally, with the Dow down 170 points and the Nasdaq small gain. Investors weighed Covid infection spikes worldwide, hopes for a near-zero rate path, and ongoing economic reopenings. Norwegian Cruise Line Holdings plunged after news of voyage cancellations through September, underscoring renewed caution for a fragile recovery. The energy sector led losses, while banks also weakened amid renewed economic unease.
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Aunt Jemima brand retired over racial stereotype
New York Quaker Oats will retire the Aunt Jemima brand citing origins based on a racial stereotype. The logo drew on the mammy image of a Black woman serving white masters, first portrayed by Nancy Green in 1890. The move accompanies wider corporate rethinks sparked by Black Lives Matter protests and calls to retire racially charged branding across companies such as Uncle Ben’s and Land O’Lakes.
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Court blocks Trump rule forcing price disclosure in ads
A U.S. appeals court ruled the Health and Human Services Department lacked authority to require drugmakers to disclose prices in television ads. The decision scuttles a White House priority on drug costs, though related bills and agreements on insulin copays move separately.
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Lordstown plant shutdown may forceGM to repay $60 million incentives
Ohio officials weigh pulling $60 million in tax incentives tied to GM's Lordstown assembly plant after its 2027 pledge to stay open was broken by last year's closure. The state cites the deal as violated while GM builds a nearby electric battery cell plant and finances a startup that bought the closed site. GM notes manufacturing presence in Ohio and pandemic factors.
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At&t Inc
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