Home prices in April were 3.5% higher than a year earlier, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index.Real Estateread more
Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each share held, for a total value of $188.24 per Allergan share.Biotech and Pharmaceuticalsread more
Investors are piling into gold, sending the precious metal to a six-year high on Monday, and analysts think the commodity has established a base to go even higher.Marketsread more
The Conference Board, a business research group, on Tuesday released the June update for its consumer confidence index.Economyread more
The Congressional Budget Office estimated Tuesday that the national debt will rise to 141% of the economy over the next 30 years — 11 percentage points lower than the agency...Economyread more
Amazon announces that Amazon Prime Day will last for two days, starting July 15.Technologyread more
Joe Biden could face some uncomfortable questions about his record on women this week at the first Democratic presidential debates in Miami.2020 Electionsread more
Investors plow into the precious metal amid the prospects for lower interest rates, a softer global economy and increased geopolitical tensions.Marketsread more
FedEx sued the U.S. to block it from enforcing rules requiring it to police packages coming into the U.S. that may pose a threat to national security — placing the shipping...US Marketsread more
FedEx heads into Tuesday afternoon's earnings deep in a bear market. A failure to deliver could mark a massive buying opportunity.Trading Nationread more
"What else do you have to do that will actually have to affect the Iranians' calculus?" said Amos Hochstein, who served as U.S. special envoy for international energy affairs...World Politicsread more
The media agency accused by Papa John's founder John Schnatter of extortion fired back in an internal memo sent to employees Tuesday, calling his claims "disparaging and outrageous."
“As you all know, there’s been a lot of coverage about Laundry Service and Wasserman related to the Papa John’s situation in the past several days,” according to a copy of the memo obtained by CNBC. “The disparaging and outrageous comments about Wasserman and Laundry Service that have been covered are completely false and we have a centralized PR strategy to go on the record and refute them. Until that time we cannot expect the media to know the truth.”
Laundry Service, which is owned by talent management company Wasserman, came under fire by Schnatter after Forbes reported that the former Papa John's chairman used a racially charged slur during a confidential conference call with the agency in May.
He told the board that Papa John's fired Laundry Service the day after the call took place, but still owed the media agency about $1.3 million. Schnatter said that the agency requested $6 million "because they claimed some of their people had been offended by what I had said" and that one of their attorneys threatened "a smear campaign" if Papa John's didn't pay up. He said the company ultimately paid Laundry Service $2.5 million.
Wasserman and Laundry Service did not immediately respond to CNBC's request for comment.
Schnatter resigned his post last week at the behest of Papa John's board after confirming the Forbes' report. However, he said the comments were taken out of context and that he was provoked into using the N-word after Laundry Service executives on the call suggested the pizza chain bring on performer Kanye West as a co-spokesman for television spots and promotions.
Schnatter said he refused to work with West because "he uses the 'N' word in his lyrics," according to his letter Saturday to the board. It was later on the call that Schnatter said he used the actual word when pressed whether or not he was a racist.
Los Angeles-based attorney Patricia Glaser, who's representing Schnatter, said she asked Laundry Service for a recording of the call, if one exists.
“If there’s a tape, let’s hear it,” Glaser told CNBC. “We believe it will vindicate John, and we want to know if it exists. "
Laundry Service told employees in Tuesday's memo that it plans to publicly respond to Schnatter's comments and asked employees not to speak to journalists.
“All matters pertaining to Laundry Service, Cycle, Wasserman and their clients are strictly confidential and should not be disclosed to anyone outside the company, " the memo said.
On Tuesday, Papa John's said it retained international law firm Akin Gump Strauss Hauer & Feld to conduct an internal audit and investigation of the pizza chain's existing policies and systems related to diversity and inclusion, supplier and vendor engagement and Papa John's culture.
Washington, D.C.-based Akin Gump is one of the most prestigious law firms in the U.S., specializing in complex corporate and white collar criminal cases.