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Tuesday, 27 February 2024

Let them eat cereal?

Also: Another downside to telework ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Tue Feb 27 2024

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

Let them eat cereal?

The CEO of Kellogg's, Gary Pilnick, raised eyebrows when he suggested struggling families dine on breakfast cereal during a live interview with CNBC last week, Emilee Coblentz reports.

"Cereal for dinner is something that is probably more on trend now," he said, "and we would expect to continue as that consumer is under pressure."

His observation comes at a moment when the average family is spending more than $1,000 a month on groceries. Read the story.

Hubby guilty of insider trading after overhearing wife's calls

Here's another potential downside to remote-working with your spouse.

The husband of a former BP executive has pleaded guilty to securities fraud after allegedly listening in on his wife's remote-work conversations, federal officials say.

Tyler Loudon, 42, of Houston, Texas made $1.7 million in illegal profits from the purchase and sale of stock shares, Gabe Hauari reports.

Loudon's wife worked on the company's deal to acquire a truck stop and travel center company. The feds allege Loudon overheard several of her conversations about the merger, then purchased TravelCenters stock before the deal was announced. Read the story.

📰 More stories you shouldn't miss 📰

Kroger-Albertsons merger in peril
Here are the safest cars
How to manage a workplace bully
What is a 401(k) loan?
How the FAFSA works for grad school

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.

FILE - This Aug. 1, 2017, file photo shows the oil producer BP company logo at a petrol station in London.  BP, a major player on Alaska’s North Slope for decades, is selling all of its Alaska assets, the company announced Tuesday, Aug. 27, 2019. Hilcorp Alaska is purchasing BP interests in both the Prudhoe Bay oil field and the trans-Alaska pipeline for $5.6 billion, BP announced in a release.(AP Photo/Caroline Spiezio, File)

The husband of a former BP executive has pleaded guilty to securities fraud after he allegedly made over $1.7 million in illegal profits.

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Kellogg's cereals, including Special K, are seen at a store in Arlington, Virginia, December 1, 2016.    Kellogg's is facing a boycott organized by the Trump-aligned Breitbart News after the cereal giant decided to pull its advertising from the website. In the latest clash over corporate marketing and politics, Breitbart called on its readers to stop buying Kellogg's products to protest the company's "act of discrimination and intense prejudice."     / AFP PHOTO / SAUL LOEBSAUL LOEB/AFP/Getty Images ORIG FILE ID: AFP_IO0H1
 

Kellogg CEO says struggling families should consider 'cereal for dinner'

Kellogg CEO Gary Pilnick's advice that struggling families should eat cereal for dinner to save money has consumers reacting to the year-old campaign.

Warren Buffett at Berkshire Hathaway's annual shareholder meeting.
 

See all 45 stocks Warren Buffett holds for Berkshire Hathaway's $371 billion portfolio

The sizable portfolio overseen by the Oracle of Omaha and his team is highly concentrated.

ELGIN, ILLINOIS - MARCH 25: Cars sit on the lot at the McGrath Honda dealership on March 25, 2021 in Elgin, Illinois. COVID related plant shutdowns over the past year, computer chip shortages, inclement weather, backups at shipping ports and strong demand have combined to cause shortages of new vehicles at dealerships across the country. . (Photo by Scott Olson/Getty Images)
 

IIHS reveals Top Safety Pick awards for 2024, see the winners

The Insurance Institute for Highway Safety announced its Top Safety Pick award winners Tuesday. See which companies, brands took home the most awards.

Kroger's Downtown headquarters in Cincinnati.
 

Feds sue to stop Kroger merger with Albertsons

The Kroger Albertsons merger is on hold as the FTC sues saying the deal would stifle supermarket competition and likely lead to steeper grocery prices

7. Wendy's     • Menu category:  Burgers     • Total sales in the US in 2019:  $9.76 billion     • Number of restaurants in US:  5,852    ALSO READ: The 30 Best Fried Chicken Places In America
 

Fast food surge? Wendy's to introduce dynamic pricing model similar to Uber

Wendy's is planning to roll out a dynamic pricing model as early as next year. This means menu prices would fluctuate based on time and demand.

The Macy's company logo is seen at the Macy's store on Herald Square on Jan. 19, 2024 in New York City.
 

Macy's to shut down 150 'underproductive' store locations

Macy's announced Tuesday it will shut down 150 stores through 2026, with 50 locations shuttering this year.

If you've been the victim of job-related bullying, you should know that there's a good chance your manager's or colleagues' behavior is in violation of company policy.
 

How to manage a workplace bully

Bully in the office: Creating an atmosphere where employees feel safe reporting incidents without fear of retaliation is critical.

Two people sitting at a table listen to a person holding a piece of paper and sitting in front of a computer.
 

3 dividend stocks to buy that yield more than double the S&P 500

These three companies reward their shareholders with high-quality and high-quantity dividends.

A smiling person at a laptop.
 

3 questions to ask before pursuing an early retirement

Early retirement may be doable for you, but there may also be a better option.

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Monday, 26 February 2024

A government shutdown looms (again)

A government shutdown looms, again. See what's at stake for millions of Americans if if Congress can't agree on a budget this week. ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Mon Feb 26 2024

 

Medora Lee Money and Personal Finance reporter

If there's a government shutdown, here's what you need to know

From Social Security checks to national parks, here's how a government shutdown would (or wouldn't) disrupt the United States.

Just the FAQs

Happy Monday, from the Windy City. It's balmy today with a high close to 70 degrees expected, but all our hot air may be moving East soon. Washington DC to be exact.

A government shutdown is back on the table. The last stopgap measure expires in early March so lawmakers will be negotiating again this week. Without a resolution, parts of the government -- the Departments of Agriculture, Energy, Housing and Urban Development, Transportation and Veterans Affairs -- are slated to shut down on March 1. Everything else would close on March 8. With the president's State of the Union address on March 7 , this could get awkward. Congress will probably pass, for a fourth time, another short-term measure to avoid a complete shutdown, Washington analysts predict.

However, if this stopgap measure doesn't include additional funding for the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) and Low Income Home Energy Assistance Program (LIHEAP), millions of Americans could begin losing benefits as early as spring.

 📰 More stories you shouldn't miss 📰 

Should I save for retirement? It may be required.

Americans say no to inflation. And they're winning.

You'll be compensated for the AT&T cell phone outage: with a $5 credit.

Ford won't pick up any competition from Volkswagen after all. Volkswagen shelves its truck ideas for North America.

2023-Volkswagen-Amarok-pickup-truck-15.jpg

2023 Volkswagen Amarok pickup truck 15

Motortrend

🍔 Today's Menu 🍔 

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Buffalo Wild Wings is giving away free wings Monday, Feb. 26 from 2-5 p.m. local time to celebrate the Super Bowl going into overtime.

Buffalo Wild Wings is giving away free wings to everyone on Monday Feb. 26. The chain extended the offer because the Super Bowl went into overtime.

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Warren Buffett at Berkshire Hathaway's annual shareholder meeting.
 

See all 45 stocks Warren Buffett holds for Berkshire Hathaway's $371 billion portfolio

The sizable portfolio overseen by the Oracle of Omaha and his team is highly concentrated.

A smiling person at a laptop.
 

3 questions to ask before pursuing an early retirement

Early retirement may be doable for you, but there may also be a better option.

Momoa with Phantom II
 

Is there anything cooler than Jason Momoa's 584-HP electric Rolls-Royce?

Modern technology makes an old Rolls-Royce even more… Rolls-Royce.

This 2005 Ford Ranger is the subject of a massive "recall of a recall" of more than a quarter million vehicles.
 
For subscribers

Ford allowed dealers to cut corners on recall repair. It's now a 'ticking time bomb'

Ford found that some repair techs failed to replace recalled air bags, leading it to fine dealerships and launch a five-year reinspection program.

The 2023 Mercedes-Benz AMG SL43 roadster.
 

Honda and Toyota among 2.3M vehicles recalled: Check car recalls here

Ford, BMW, Chrysler and Mercedes-Benz were among automakers with vehicles recalled last week by the National Highway Traffic Safety Administration.

FILE - This Aug. 1, 2017, file photo shows the oil producer BP company logo at a petrol station in London.  BP, a major player on Alaska’s North Slope for decades, is selling all of its Alaska assets, the company announced Tuesday, Aug. 27, 2019. Hilcorp Alaska is purchasing BP interests in both the Prudhoe Bay oil field and the trans-Alaska pipeline for $5.6 billion, BP announced in a release.(AP Photo/Caroline Spiezio, File)
 

BP exec's husband guilty in insider trading case after listening to her calls

The husband of a former BP executive has pleaded guilty to securities fraud after he allegedly made over $1.7 million in illegal profits.

Krispy Kreme is giving away free doughnuts June 7, no purchase necessary.
 

Here's how to get a dozen Krispy Kreme doughnuts for $2.29 on Leap Day

Krispy Kreme announced Monday it's offering customers a dozen original glazed doughnuts for $2.29 with the purchase of any regularly priced dozen.

A memorial along New Mexico Highway 264 honors Janella Bryant, a motorcyclist who was killed by a drunken driver in September 2020.
 

Money to reduce traffic deaths misses many places with high rates

Two years into Joe Biden's 5-year Safe Streets infrastructure program, counties with low traffic death rates received nearly all the money.

Concerns about inflation have increased in recent months, as stimulus payments from the federal government increased the ability of consumers to spend more than they had since well before the COVID-19-driven recession. This was compounded by difficulties low-paying industries had attracting workers, which made them raise the wages of hundreds of thousands of workers.   But just as the pandemic caused prices of some items to soar, it caused prices of   other items to plunge. The price of "food at employee sites and schools" fell the most, most likely because many people are now working from home and schools are not at full capacity yet. On the flip side,    the price of this household item is soaring   .    Consumer spending is not the only reason inflation fear has been rekindled for the first time since before The Great Recession. Fuel prices have risen over the course of the year, with a sharp increase in the price of oil. Housing prices have risen at an unprecedented pace, to some extent because of low mortgage rates.    Can the government use traditional measures to keep down the prices of many items that make up the   consumer price index, even after their recent increase? The Federal Reserve has set interest rates relatively low since the Great Recession to help stimulate the economy. But with the recent COVID-19 recession and inflation creeping up, the Fed may be running out of ways to influence rising prices. If the Fed raises rates to combat inflation, for example, it could put a damper on the already pandemic-stricken economy.    Once a month, the Bureau of Labor Statistics provides the consumer price index, the most carefully followed set of data about monthly prices movement. The numbers are broken into dozens of individual categories. The most recent   release was for August  . Figures are   compared to the immediately previous month and to the same month a year ago.    In August, the CPI for Urban Consumers rose by 5.3% from the same month last year. The price   of some items rose by double digits. Among them "beef and veal" rose 12.2%, fuel oil rose 28.6%, women's clothing jumped 11.9%, and used car prices rose 31.9%. The price of education has also been increasing, and not just during the pandemic. This is    the cost of college the year you were born   .    Even as inflation has become a part of the economic landscape this year, the prices of some items fell in August, and several fell very sharply. A review of the list indicates that price decreases have been   partially due to the pandemic.     Food at employee sites and schools fell 42.5%. This may be due to a drop in students' attendance because of the virus and summer vacation. Food prices at employee sites were likely affected because of the working-from-home mandate in most companies. The price of telephone hardware and calculators, both often used in offices, dropped 15%. The price of sewing machines and fabric fell 10.8%.
 

How's the economy doing? Key reports will give us a clue this week.

A closely watched inflation report this week could help decide when the Fed cuts rates. Also coming: updates on home prices and consumer confidence

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