businessandindustry
Amid all the competing headlines of the 2024 election, there may be no more bread-and-butter issue—literally—than how much Americans are paying to put food on their tables. The GOP is gearing up to attack the Biden-Harris administration for escalating grocery store bills, while presumptive Democratic nominee Kamala Harris has now responded with her own plan to fight higher food prices. One of the hottest items in this political food fight is unquestionably the ongoing litigation from the Federal Trade Commission (FTC) attempting to block the Kroger-Albertsons grocery store merger. A host of De...
Reason
In the ongoing debate over America's trade policy, politicians and pundits often claim that the public supports tariffs and other protectionist measures, such as those given to us by the Trump and Biden administrations. A new Cato Institute poll, however, reveals a more complex picture: Americans might like the idea of tariffs and "Buy American" policies, but their support shrinks when confronted with higher prices and other negative consequences. This disconnect—between abstract preferences and real-world actions with concrete downsides—challenges the protectionist narrative currently dominat...
Reason
Charles Gasparino is a senior correspondent for the Fox Business Network and a columnist for the New York Post. He's also the author of the new book Go Woke, Go Broke: The Inside Story of the Radicalization of Corporate America. Gasparino analyzes major missteps by companies such as Anheuser-Busch, Target, and Disney and explores how CEOs and top management become entranced by things like stakeholder capitalism; diversity, equity, and inclusion programs; and environmental, social, and governance plans to the detriment of customer satisfaction, public relations, and the bottom line. Four years ...
Reason
It's OK to calm down about the economy. Yes, Friday's unemployment news was bad. Yes, the NASDAQ and Dow Jones neared correction territory on Friday morning. And yes, the Sahm Rule Recession Indicator has now been triggered. Odds are, though, a recession is not imminent. Here are three reasons why, in descending order of optimism. One, recent growth has been strong. Two, the economy has been near full employment for a while, and some kind of job growth slowdown is almost inevitable. Three, we're past the window where Federal Reserve actions can influence the election, though its recent behavio...
Reason
The drinks world has been rocked by dramatic media stories about barren patches of California countryside, abandoned vineyards, and scores of wineries closing their doors. Photos show tens of thousands of vineyard acres being bulldozed and then pulverized into wood chips by large industrialized grinders across the Golden State. This "Grape Apocalypse" (Grape-pocalypse?) is being framed as the sad but inevitable result of declining consumer interest in wine. That's true, but it's not the full picture. Unsurprisingly, the wine industry has been hit by inflation. However, the market has also been...
Reason
Recent years have seen a renewed surge in new small business start-ups after decades of slowing entrepreneurialism. Spurred by pandemic-era closures of large employers and in need of side hustles in the era of a higher cost of living, Americans are eager once again to be their own bosses. Standing in the way, though, are local regulations that often make it difficult to launch businesses out of private homes, where most startups are born. Fortunately, some localities are slowly getting out of the way. Businesses Allowed by RightThe first good news comes from Bismarck, North Dakota, where this ...
Reason
While the GOP may not speak as loudly about our fiscal situation as it once did, this week's Republican convention offers a good chance to do so—and to offer something positive. The situation is indeed dire. The national debt has reached staggering levels, and the next president will inherit a ticking time bomb of fiscal deadlines that could significantly worsen the burden. The potential expiration of the previous (and popular) Trump tax cuts is one such fiscal cliff. However, it also represents an opportunity: Pay to extend former President Donald Trump's cuts by cleaning out the tax code of ...
Reason
In America, we do not punish businesses for their success. We certainly do not punish businesses because their competitors are struggling to keep pace. Sadly, that is exactly what the Department of Justice (DOJ) is attempting to do in its recent lawsuit against Apple. In March, the DOJ, joined by 15 states and the District of Columbia, filed a lawsuit aimed at penalizing Apple for successfully competing in the market for smartphones. However, like much of the Biden administration's approach to antitrust enforcement, the DOJ's lawsuit is focused on punishing Apple for its success rather than ad...
Reason
With former President Donald Trump's pick of Ohio Rep. J.D. Vance as his 2024 running mate, we're likely looking at dark days at the Federal Trade Commission (FTC). Under President Joe Biden, the FTC—headed by Lina Khan—has aggressively pursued an anti-innovation, anti-tech, anti-big business, and anti-consumer agenda. Khan and her allies in the Biden administration think the consumer welfare standard that has guided antitrust law for decades needs to go. Rather than focus on whether a company's actions or a particular merger will raise prices for consumers, they think antitrust regulators sho...
Reason
I hadn't heard of the app NGL until recently. But that's not surprising. The anonymous questions app seems to be largely popular among teens. Bark, the maker of parental content-monitoring software, calls NGL "a recipe for drama" and cyberbullying. But it seems like a fairly standard social media offering, allowing users to post questions or prompts and receive anonymous responses. Now, the Federal Trade Commission (FTC) has ordered NGL to ban users under age 18. That Slippery Slope Again The FTC and the Los Angeles District Attorney's Office say NGL "unfairly" marketed the app to minors. "NGL...
Reason
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