Normally, when the Fed starts loosening policy it does so amid clear-cut signs of economic weakness.Economyread more
Wall Street economists are anxiously awaiting Wednesday's FOMC meeting.Marketsread more
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
All trains travelling in and out of New York Penn Station have been halted because of an Amtrak overhead wire issue, New Jersey Transit said Wednesday.Transportationread more
This just might be Fed Chair Jerome Powell's toughest meeting yet because whatever the outcome, odds are high that it will disappoint a large group.Market Insiderread more
American Airlines is ordering Airbus' new A321XLR, according to a source familiar with details of the agreement.Paris Air Showread more
Tesla shares are nearing Morgan Stanley's price target but the firm isn't sure how to tell investors to value Elon Musk's company.Investingread more
Companies are increasingly willing to pay for employees to go to the doctor. Uber is partnering with Grand Rounds, a start-up that sells into the employer channel, to make it...Technologyread more
But it's still unclear when the currently stalled trade negotiations between the two economic superpowers will restart, Lighthizer said.Politicsread more
Apple's iOS 13 update, which will be available in the fall for iPhones, will let Siri read your text messages to you through your AirPods. Here's how to set it up.Technologyread more
Target CEO Brian Cornell apologized to customers for a disappointing weekend after the company experienced outages that shut down its cash registers and credit-card processors...Retailread more
"In a can of Campbell's Soup, there are about 2.6 pennies worth of steel. So if that goes up by 25 percent, that's about six-tenths of 1 cent on the price on a can of Campbell's soup," Ross argued. "I just bought this can today at a 7-Eleven ... and it priced at a $1.99. Who in the world is going to be too bothered?"
In a statement provided to CNBC earlier Friday about the tariffs, though, a Campbell spokesperson noted its impact on the company's costs.
"Any new broad-based tariffs on imported tin plate steel — an insufficient amount of which is produced in the U.S. — will result in higher prices on one of the safest and more affordable parts of the food supply."
When the costs of a company's business become more expensive, it can react by raising prices for shoppers or allowing those increased costs to chip into profits. But retailers like Walmart and Amazon are putting pressure on food companies to lower prices, and today's generation of food shoppers cares more about price than they do brand.
Trump said Thursday the United States will impose new tariffs on steel and aluminum as early as next week. If it's enacted, industries from agriculture to motorcycles, many of which rely on aluminum to make their products, will be affected.
Campbell Soup, which has heavy use of steel in its soup cans, will be among the food companies hurt the most, according to analysts at Credit Suisse.
Increased costs for Campbell would come at an inopportune time for the soup company, which has been grappling with slowing sales and dealing with hard-bargaining retailers. This year Campbell is faced with integrating its $4.87 billion acquisition of snacks company Snyder's-Lance, the largest ever deal in the soup company's 148-year history.