More Caffeine, Please: Keurig Is Buying Dr Pepper Snapple
NEW YORK (AP) — Keurig is buying Dr Pepper Snapple Group, bringing together the make-at-home coffee brand with the company behind Dr Pepper soda, Mott’s apple juice and Snapple iced teas. The deal would create a beverage giant with about $11 billion in annual sales and a stable of brands including Dr. Pepper, 7UP, Snapple, A&W, Mott’s, Sunkist and Keurig’s single-serve coffee makers.
Dr. Pepper Snapple Group vaulted 22.4 percent after it agreed to be acquired. Dr. Pepper Snapple added $21.42 to $117.07.
U.S. Treasury Says Government Borrowing Will Hit 8-Year High
WASHINGTON (AP) – With the government’s budget deficit rising, the Treasury Department says it expects to borrow $441 billion in the current January-March quarter, the largest amount in eight years. The Treasury says this figure compares to actual borrowing of $282 billion in the October-December quarter.
Fed Is Likely to Hold Rates Steady At Yellen’s Final Meeting
WASHINGTON (AP) – Janet Yellen’s final Federal Reserve policy meeting will likely mark an uneventful end to her four-year tenure as Fed chair but perhaps offer hints of the central bank’s approach to interest rates in the months to follow. Yellen will step down when her term ends on Feb. 3. She will be succeeded by Jerome Powell, a Fed board member whose nomination as chairman the Senate approved last week.
8 Charged With Manipulating Futures Markets by ‘Spoofing’
WASHINGTON (AP) – Federal prosecutors are charging a group of traders with manipulating U.S. futures markets through a practice known as spoofing. Authorities have announced charges against eight people, some of whom had been employed by HSBC, Deutsche Bank and UBS. “Spoofing” is when a trader places buy or sell orders with the intent to cancel them before the transactions are completed. That creates the illusion of demand, inflating prices to benefit the trader’s market positions.
EU Ready to Hit Back if Trump Imposes Anti-EU Trade Measures
BRUSSELS (AP) – The European Union says that if U.S. President Donald Trump would initiate unfair trade measures against the 28-nation bloc, it would stand ready “to react swiftly and appropriately.” In a weekend interview, Mr. Trump said he was annoyed with EU trade policy since the U.S. cannot sufficiently export to the EU. He said his problems with the EU “may morph into something very big” from a trade standpoint.
JPMorgan Names 2 Execs as Co-Presidents Reporting to Dimon
NEW YORK (AP) – JPMorgan Chase says two of its senior executives will share the role of president and chief operating officer of the financial services firm. Daniel Pinto and Gordon Smith will assume those duties Tuesday. The co-presidents and co-chief operating officers will report to Jamie Dimon, the company’s chairman and CEO. Dimon says he and the board agree he will continue in his current role for about five more years.