Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Bryn Mawr Trust CIO Jeffrey Mills lists where to put money to work as Wall Street copes with trade war and recession jitters.Futures Nowread more
The announcement for Target also comes on the heels of a strong quarterly earnings report, where it showed it drove more people to stores and got them to spend more money...Retailread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Popular sparkling water company LaCroix is facing a lawsuit that alleges its products are mislabeled as "all-natural," and the allegations are weighing on the shares of its parent company National Beverage.
The lawsuit, filed in a Cook County, Illinois, circuit court, claims that LaCroix contains ethyl butanoate, limonene, linalool and linalool propionate — ingredients it says are non-natural and synthetic compounds. Linalool is an aromatic oil often found in cockroach insecticide, and many of the reports about the suit have touted this fact.
The suit also says limonene is known to cause kidney toxicity and tumors, while linalool propionate is used to treat cancer.
However, a report in Popular Science raises doubts about the claims that the chemicals technically qualify as synthetic or dangerous. The report says limonene is a "naturally occurring chemical" and a "major component of oil extracted from citrus peels." It is commonly used to give food a lemony flavor and fragrance, according to Popular Science.
Linalool and linalool propionate (also known as linalyl propionate) are also naturally occurring and derived from plants. Although linalool is used in insecticides, that doesn't mean it's poisonous to humans, according to Popular Science. Their report claims the only real risk to humans is a mild skin or eye irritation, mostly from the chemical's use in aerosol forms. Additionally, the report claims that linalool and linalyl propionate may help fight cancer.
Shares of National Beverage, LaCroix's parent company, were trading down nearly 3 percent on Friday.
On Monday, National Beverage posted first-quarter earnings for the 2019 fiscal year, which showed that revenue grew 12.6 percent, largely driven by the growth of LaCroix. The sparkling-water brand has benefited from a consumer shift away from traditional cola drinks to drinks perceived to be more healthy.
The lawsuit was brought on behalf of plaintiff Lenora Rice, by the law firm Beaumont Costales in Chicago. It said, "Thousands of consumers purchase Defendant's water under the mistaken belief that it conforms with the representations made by Defendant on LaCroix's packaging and advertisements, i.e., it is 'all natural' and/or '100% natural.'"
The lawsuit does not explain how the product was tested for the presence of these chemicals.
National Beverage said it "categorically denies all allegations in a lawsuit filed [Monday] without basis in fact or law regarding the natural composition of its LaCroix Sparkling Water."
"Natural flavors in LaCroix are derived from the natural essence oils from the named fruit used in each of the flavors. There are no sugars or artificial ingredients contained in, nor added to, those extracted flavors," the company said in a statement.
National Beverage declined our request for further comment. Lawyers at Beaumont Costales couldn't be immediately reached for comment.