In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
AT&T isn't focused on selling or divesting DirecTV as Elliott Management pushes for divesting the satellite TV asset.Technologyread more
As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
The move could bring a welcome salve to farmers caught in the crosshairs of the trade war if it results in a reopening of the market.Politicsread more
The pilot program will deliver food and beverage, over-the-counter medications and other items within minutes, the company said. Prescription deliveries will not be available.Health and Scienceread more
Check out the companies making headlines in midday trading:Market Insiderread more
The FDA's Office of Criminal Investigations opened a probe "shortly after" people started falling ill, Mitch Zeller, director of the FDA's Center for Tobacco Products, told...Health and Scienceread more
Apple's big iOS 13 update for iPhones is out now and includes lots of new features. Here's how to install it on your phone and what devices are supported.Technologyread more
As tensions within the U.K. grocery market grow on the back of the falling value of the pound, analysts have started to wonder which company will be the first to pass on the costs to consumers.
British shoppers faced restrictions on certain Unilever products last week – including Ben & Jerry's and Marmite – after the supplier told Tesco, and other big grocers, to increase prices to offset the rising costs of food production.
"At the moment, it is a case of which one of these grocery companies are going to be the first to pass on the inflationary pressure that we are going to start seeing impacting into next year," Alex Dryden, global market strategist at J.P. Morgan Asset Management, told CNBC on Tuesday.
"Which one of them breaks first will be sort of interesting considering they have been a bit on a price war for the last few years, as they have been benefiting from falling prices and they have tried to compete that on the downside. It will be interesting to see which one of them passes that cost on to the outside now that we are starting to see a rebound."
"Inflation next year is really going to change the dynamics for investors," Dryden added.
Last Thursday, media reports suggested that Unilever asked grocer firms to increase their prices as much as 10 percent on all its products. But, grocers are opposing such pressure, claiming some of the products are produced in the U.K. and do not suffer from the fall in sterling. Tesco and Unilever reached an agreement but have not disclosed any details of the solution found. According to the U.K.'s Guardian newspaper, Unilever said it worked "closely" with Tesco to achieve a compromise and to guarantee its brands were once again available.
On Tuesday, the statistics group Kantar U.K. reported that Tesco sales went up by 3.1 percent in the first 12 weeks to October 9 – the first time since March of last year. Kantar U.K. also said that Tesco grew ahead of its market competitors, but overall the sector posted a 0.8 percent increase on last year.
"Tesco has attracted a further 228,000 shoppers through its doors to help the grocer grow to a 28.2 percent share of the market – its first year-on-year market share gain since 2011," the group said in a statement.
U.K. inflation data out Tuesday showed the biggest yearly rise since November 2014. According to the U.K.'s Office of National Statistics, inflation went up 1 percent year-on-year. Sterling rose 0.8 percent for the session on Tuesday, hitting $1.23 for the first time since October 12.
However, Mike Prestwood, head of inflation for the Office of National Statistics told Reuters: "There is no explicit evidence the lower pound is pushing up the prices of everyday consumer goods."