Business Highlights: Starbucks and NRLB, rate cut in China

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Starbucks calls on the labor council to temporarily suspend union voting

SEATTLE (AP) – Starbucks calls on the National Labor Relations Board to suspend all union elections in its US stores. The request came on Monday in response to allegations by a council employee that regional NLRB officials improperly coordinated with union organizers. In a letter sent to the board, Starbucks said an unnamed career NLRB official told the company about the business, which took place in the St. Louis council office in the spring while he was overseeing an election at a Starbucks store. in Overland Park, Kansas. Labor council says it does not comment on open cases. More than 220 US Starbucks stores have voted for the union since late last year. The company opposes unionization.

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China cuts interest rates to support the failing economy

BEIJING (AP) – China’s central bank has cut a key interest rate to support declining economic growth at a politically sensitive time when President Xi Jinping is believed to be looking to extend his grip on power. The ruling Communist Party acknowledged that it could not meet this year’s official 5.5% growth target after anti-virus brakes disrupted trade, production and consumer spending. A crackdown on corporate debt has plunged activity in the vast real estate sector. Government data showed a weakening in July industrial production and retail sales. The rate cut suggested that Beijing’s concerns about rising debt are at least temporarily outweighed by the political dangers of an economic crisis and job losses.

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Stocks Close High on Wall Street; economic worries hit oil

NEW YORK (AP) – Shares recovered from their first losses and closed higher on Wall Street. Investors remain focused on the economy and upcoming retailer reports this week. The S&P 500 is up 0.4% on Monday after stumbling into early trading. The Dow Jones Industrial Average and Nasdaq also extended last week’s gains. Oil prices fell sharply due to concerns about the global economy. China’s central bank cut a key interest rate after recognizing that more needs to be done to support the world’s second largest economy. Treasury yields also fell as production in New York state unexpectedly fell.

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Strike four: Facebook leaks incorrect election information in ads in Brazil

SAN FRANCISCO (AP) – Facebook failed to detect election-related disinformation in announcements prior to the 2022 Brazilian election, according to a new report from Global Witness. The group said the company’s persistent pattern of not capturing material that violates its policies is “alarming.” The ads contained false information about the country’s upcoming elections, such as promoting the wrong voting date and questioning the integrity of the election, including Brazil’s electronic voting system. It is the fourth such test of Facebook’s moderation system that the human rights group has conducted in recent months and the fourth that Facebook has rejected.

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London Heathrow Airport extends the maximum passenger limit until October

LONDON (AP) – Heathrow Airport says it will extend its limit on the number of daily passengers until the end of October to meet the growing demand for air travel amidst staff shortages. The airport, one of the busiest in Europe, said a maximum of 100,000 travelers can depart every day until 29 October. The daily limit is expected to be lifted on 11 September. Heathrow imposed the temporary limit in July and told airlines to stop selling tickets during the peak summer travel season, saying passenger traffic was more than the airport’s ground staff could handle. The airport said its temporary limit on Monday meant “fewer last-minute cancellations” and “shorter waits for baggage”. He added that capacity limits would be kept in check.

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Florida high-speed train gets grant to improve safety

FORT LAUDERDALE, Florida (AP) – The tracks used by the nation’s deadliest railroad will see the addition of fences to keep pedestrians out and safety improvements at intersections with a $ 25 million federal grant. Brightline and government officials announced the concession on Monday as the privately owned passenger line continues to be plagued with deaths along its tracks between Miami and West Palm Beach. Trains have killed three in the past two weeks and 68 since the service began its first runs five years ago. It has the worst death rate of more than 800 railways in the nation, an Associated Press ongoing analysis of Federal Railroad Administration data shows.

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The Japanese economy grew by 2.2% in the second quarter thanks to the revival of consumer spending

TOKYO (AP) – Japan reported that its economy grew at an annual rate of 2.2% in the last quarter as consumer spending rebounded with easing pandemic precautions. A nation’s products and services rose 0.5% from January to March, during which time the economy had remained flat, according to preliminary government estimates released on Monday. Economists had forecast growth of 0.6% in the quarter. The annual numbers show how the economy would have grown if the quarterly rate had continued for a year. Private consumption increased at an annual rate of 4.6%.

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Kraft Heinz is reminiscent of contaminated Capri Sun juice bags

NEW YORK (AP) – Kraft Heinz is recalling thousands of Capri Sun bags after a cleaning solution accidentally mixed with the juice on a production line. The company says it is recalling approximately 5,760 cases of Capri Sun Wild Cherry flavored juice blend. The “Best When Used By” date on the packaging is June 25, 2023. Kraft Heinz says diluted cleaning solution is used on its food processing equipment. The company says it discovered the problem after receiving complaints from consumers about the taste of the juice. Consumers who purchased the affected beverages must return them to the store where they were purchased to receive a refund.

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The S&P 500 was up 16.99 points, or 0.4%, to 4,297.14. The Dow Jones Industrial Average gained 151.39 points, or 0.4%, to 33,912.44. The Nasdaq added 80.87 points, or 0.6%, to 13,128.05. The Russell 2000 Smallest Companies Index advanced 4.73 points, or 0.2%, to 2,021.35.

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