Kimberly-Clark is buying Tylenol maker Kenvue in an approximately $48.7 billion cash-and-stock deal, creating a massive consumer health goods company. Kenvue shareholders will receive $3.50 per share in cash and 0.14625 Kimberly-Clark shares for each Kenvue share held at closing. That amounts to $21.01 per share, based on the closing price of Kimberly-Clark shares on Friday.… Continue Reading
President Donald Trump’s administration says it will partially fund the SNAP food aid program after a pair of judges’ rulings required the payments to continue. That means grocery aid will resume for 1 in 8 Americans, though it has been delayed for millions already and the amount beneficiaries receive will be reduced. The U.S. Department of Agriculture said it would not continue the funding in November due to the government shutdown. Two federal judges ruled last week that the government was required to keep the program running. But both gave the administration leeway to pay for it entirely or partially. It can normally take up two two weeks to load beneficiaries’ debit cards.… Continue Reading
ABOARD AIR FORCE ONE (AP) — President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking. Trump’s aggressive use of tariffs since returning to the White House for a second term combined with China’s retaliatory limits on exports of rare earth elements gave the meeting newfound urgency. Trump told reporters he decided to reduce the current rate from 57% after the talks. Xi said Washington and Beijing would work to finalize their agreements to provide “peace of mind” to both countries and the rest of the world, according to a report on the meeting carried by Chinese state media.… Continue Reading
WASHINGTON (AP) — The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. The move comes amid a fraught time for the central bank, with hiring sluggish and yet inflation stuck above the Fed’s 2% target. Compounding its challenges, the central bank is navigating without the economic signposts it typically relies on from the government, including monthly reports on jobs, inflation and consumer spending, which have been suspended because of the government shutdown. The Fed has signaled it may reduce its key rate again in December but the data drought raises the uncertainty around its next moves.… Continue Reading
TOKYO (AP) — President Donald Trump began one of his busiest days of his Asia trip on Tuesday by warmly greeting the new Japanese prime minister. He plans to later speak to U.S. troops aboard an aircraft carrier and mingle with business leaders. Sanae Takaichi became Japan’s first female prime minister just days ago and aims to strengthen ties with Trump while defending Japan’s economic interests. Trump seeks $550 billion in Japanese investment to reduce U.S. tariffs. He arrived in Tokyo on Monday after attending a summit in Malaysia. There, he celebrated a ceasefire agreement between Thailand and Cambodia. Meanwhile, tensions between the U.S. and China appear to be cooling, with a trade deal possibly in the works. Trump plans to leave for South Korea on Wednesday.… Continue Reading
The U.S. Department of Agriculture has posted a notice on its website saying federal food aid will not go out Nov. 1 as the government shutdown drags on. The cutoff would expand the impact of the impasse to some of the Americans most in need unless a resolution is found in just a few days. The notice comes after the Trump administration said it will not tap roughly $5 billion in contingency funds to keep the benefits flowing into November. The Trump administration blames Democrats, who say they won’t agree to reopen the government until Republicans negotiate with them on extending expiring subsidies under the Affordable Care Act.… Continue Reading
RALEIGH, N.C. (AP) — North Carolina’s Republican-controlled legislature has formally begun redrawing the state’s congressional district map. The effort aims to help the GOP gain another U.S. House seat, supporting Donald Trump’s push to retain party control at midterms. The state Senate voted Monday along party lines for new boundaries for two eastern districts. This move aims to thwart the reelection of Democratic Rep. Don Davis, one of the state’s three Black members of Congress. The proposed map should move to the House on Tuesday. Litigation challenging the map is almost certain, with allegations of harming Black voting power likely.… Continue Reading
WASHINGTON (AP) — The Supreme Court will consider whether people who regularly smoke marijuana can legally own guns, the latest firearm case to come before the court since its 2022 decision expanding gun rights. The high court agreed to hear the case Monday. President Donald Trump’s administration is asking the justices to revive a case against a Texas man charged with a felony because he allegedly had a gun in his home and acknowledged being a regular pot user. Defense attorneys got the charge tossed out after an appeals court largely struck down a law that bans guns from users of illegal drugs under the high court’s more expansive view of the Second Amendment.… Continue Reading
WASHINGTON (AP) — Large crowds of protesters have gathered in cities across the United for “No Kings” demonstrations against what they see a drift into authoritarianism under President Donald Trump. People carrying signs with slogans such as “Nothing is more patriotic than protesting” or “Resist Fascism” packed into New York City’s Times Square on Saturday. They rallied by the thousands in parks in Boston, Atlanta and Chicago. There were also demonstrations outside capitols in several Republican-led states and hundreds of smaller public spaces. Republicans disparaged the demonstrations as “Hate America” rallies, but in many places the events looked more like a street party.… Continue Reading
WASHINGTON (AP) — President Donald Trump has signaled to Ukrainian President Volodymyr Zelenskyy that he’s leaning against selling long-range Tomahawk cruise missiles to Kyiv. Zelenskyy at the start of Friday’s White House talks said he had a “proposition” in which Ukraine could provide the United States with its advanced drones, while Washington would sell Kyiv the Tomahawks, which Ukrainian officials say they desperately need to motivate Russian President Vladmir Putin to get serious about peace talks. But Trump said he had “an obligation also to make sure that” the United States is “completely stocked up.” The U.S. leader added he was optimistic the war would soon end, mitigating Ukraine’s need for the powerful weapon.… Continue Reading