Jerome Powell will "underwhelm everyone and not overwhelm anyone," one economist saysMarket Insiderread more
Activists with Black Lives Matter, who met privately with Buttigieg in the weeks after police shot and killed Eric Logan, say the 37-year-old mayor brushed off their concerns...2020 Electionsread more
The group, whose chairman is J.P. Morgan CEO Jamie Dimon, blamed tension with China and the stalled free-trade agreement with Mexico and Canada for its members' downbeat...Politicsread more
The unspecified action comes after the U.S. accused Iran of carrying out the weekend attacks on critical Saudi oil installations.Politicsread more
Some worry the regulators will squander an opportunity to crack down on potentially monopolistic behavior due to their own infighting.Technologyread more
Oil prices retreated after President Donald Trump said he ordered the Treasury Department to "substantially increase" sanctions on Iran.Energy Commoditiesread more
Wall Street economists think the Fed will cut rates by 25 basis points at its September meeting but have differing views about what will happen in the future.Marketsread more
Trump's announcement of his fourth national security advisor comes eight days after the abrupt departure of John Bolton.Politicsread more
The monthly Architecture Billings Index (ABI) from the American Institute of Architects fell to 47.2 from 50.1 in July. Any score below 50 indicates a decrease in architecture...Real Estateread more
Corporate executives and money managers have grown increasingly pessimistic about the economy as growth around the world slows.Trader Talk with Bob Pisaniread more
Mortgage applications to purchase a home increased 6% for the week and were a strong 15% higher annually.Real Estateread more
Beyond Meat's pea protein supplier has received an additional $75 million investment from Cargill, one of North America's largest beef processors.
Puris, the continent's largest pea protein producer, will be able to more than double its pea protein production at a plant in Dawson, Minnesota.
The company buys peas from farmers who grow the crop using its proprietary seed and then extracts pea protein from them. As a result of the investment announced Wednesday, Puris will now own and operate three facilities in North America that focus solely on pea protein production. The investment will also add approximately 90 jobs.
Cargill and Puris signed a joint venture agreement in January 2018 to accelerate the production of pea protein with a $25 million investment from the agricultural giant.
Since then, Beyond Meat has significantly ramped up production of its meat substitutes, which use peas as its primary source of protein. In Beyond's second quarter, revenue from restaurants and food service surged 483% from a year earlier, and revenue from grocery stores soared 192%.
Puris is not Beyond's sole pea protein supplier. According to company filings from July 31, it also sources pea protein from Roquette, which is based in France.
Beyond products have landed on the menus of fast-food chains like Subway and Dunkin'. KFC, which is owned by Yum Brands, said Tuesday that the single Atlanta location testing plant-based Beyond fried chicken sold out of the item in less than five hours.
Beyond's meat substitutes appeal to flexitarians — people looking to consume less meat — because they more realistically mimic the taste and look of meat products.
"When you look at what the market needs, consumers are demanding more," Puris President and CEO Tyler Lorenzen said on CNBC's "Squawk Alley" Wednesday.
Lorenzen added that he believes pea farmers will be able to meet the exploding consumer demand.
The expected growth in the market for meat alternative market has send Beyond's stock surging 528% since its May initial public offering.