In a speech delivered in December 1940, a year before the United States officially entered World War II, President Franklin D. Roosevelt declared that the U.S. “must be the great arsenal of democracy.” Roosevelt’s words proved prescient, as the U.S. produced 86,000 tanks, 96,000 bombers, 2.4 million trucks, and 6.5 million rifles to help deliver an Allied victory. (Here is […]

New York (CNN Business)In 2020, something incredible happened in the dairy aisle: Velveeta started flying off the shelves. Sales of the processed cheese product, which food snobs love to hate, have been in decline for years. Then the pandemic hit, and suddenly stressed-out, homebound people wanted Velveeta for their queso, fudge and extra-cheesy mac and cheese. The sudden interest in […]

After moving sharply lower at the start of trading on Friday, stocks have shown a significant recovery attempt over the course of the morning. The major averages have climbed well off their early lows but are currently in negative territory. The Dow is currently down just 3.84 points or less than a tenth of a percent at 32,722.98 after falling […]

Germany industrial output grew unexpectedly in June underpinned by higher production of capital and consumer goods, data released by Destatis revealed on Friday. Industrial production grew 0.4 percent from May, revering a drop of 0.1 percent. Output was forecast to fall 0.3 percent. Excluding energy and construction, industrial output was up 0.7 percent. Energy production remained flat, while construction output […]

British drug maker GSK plc (GSK,GSK.L), in its statement on Zantac (ranitidine) litigation and N-nitrosodimethylamine or NDMA, said the U.S. and European regulators have concluded there is no evidence of a causal association between ranitidine therapy and the development of cancer. The company noted that substantial scientific evidence supports the conclusion of the U.S. Food & Drug Administration, and the […]

“Stop running from God, Alexander…His word says if we confess our sins, he is faithful and [wants] just to forgive us our sins and to cleanse us.” Don’t remember that line from Lin-Manuel Miranda’s Pulitzer Prize-winning Hamilton? Well neither does Miranda. The line is from an unauthorized, “Christianized” version of the musical from RGV Productions, which operates with The Door […]

Cisco Systems revealed on Wednesday details of a May hack by the Yanluowang ransomware group, which leveraged a compromised employee’s Google account.The networking giant is calling the attack a “potential compromise” in a post by the company’s own Cisco Talos threat research arm. “During the investigation, it was determined that a Cisco employee’s credentials were compromised after an attacker gained […]

EXCLUSIVE, 9:15 AM: Christopher Malone has been promoted to Chief Financial Officer of Byron Allen’s Allen Media Group. The move comes just two months after the veteran exec joined AMG as EVP, Head of Corporate Development. He remains based in Los Angeles. “I am very excited to elevate Chris Malone within the Allen Media Group family to Chief Financial Officer, […]