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Ticker: Trump Accounts for newborns launch July 4

President Donald Trump is launching Trump Accounts on July 4, aiming to boost financial independence for children born during his second term. Parents can open accounts for these children, receiving $1,000 from the government and potentially more from billionaires who’ve pledged to provide money. The funds are managed by private firms and are invested in the stock market. Children can access the money at age 18 for specific purposes like education or home buying. The program has faced criticism for not addressing kids’ immediate needs and potentially widening the wealth gap. ...

Kroger to buy Giant Eagle grocery stores for $1.65B

Kroger said Wednesday it plans to buy regional grocer and pharmacy retailer Giant Eagle in a deal valued at $1.65 billion. Giant Eagle, which is privately held, has 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana. They would continue to operate under the Giant Eagle name under the terms of the deal. Kroger, which is the largest U.S. supermarket chain, has 2,685 stores in 35 states and the District of Columbia. Its stores operate under various brand names, including Ralphs, King Soopers, Smith’s and Fred ...

Briefcase: Penn Installations recognized

HARRISBURG Penn Installations has been recognized by the Keystone Contractors Association as the safest subcontractor in Pennsylvania among companies reporting more than 100,000 work hours in 2025. Based in Summerhill, Cambria County, Penn Installations provides construction services on projects throughout the Commonwealth and has established a reputation for delivering quality work while maintaining an unwavering commitment to employee safety. The KCA Safety Award recognizes subcontractors that demonstrate exceptional safety performance while completing a significant volume of ...

Fed chair emphasizes independence

WASHINGTON — New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Donald Trump has sought. In remarks at a central bank conference in Sintra, Portugal, Warsh said that if businesses or households thought the Fed would accept inflation above 2%, “I guess they’d be disappointed. We’re going to deliver price stability.” The Fed typically combats inflation by raising borrowing costs. When asked about Trump’s oft-repeated desire for lower rates, Warsh ...

Ticker: Alibaba to pay $600M to settle allegations

Alibaba has agreed to pay $600 million to settle a dispute with the U.S. government. The company faced allegations of selling and importing illegal pharmaceuticals and equipment through its platforms, Alibaba.com and AliExpress.com. The U.S. claims that Alibaba’s payment processor, AUS Merchant Services Inc., violated federal law by failing to prevent these sales. Alibaba admits it failed to stop about 80,000 unlawful imports between January 2016 and December 2024. The IRS conducted over 40 undercover purchases of illegal items. A non-prosecution agreement was reached. Separately, ...

Briefcase: Sheetz kicks off fundraiser

Today, Sheetz kicks off its annual month of in-store fundraising for Sheetz For the Kids, an employee-driven charity supporting children in need. For the entire month of July, customers at all 830-plus Sheetz stores throughout Pennsylvania, Michigan, Maryland, Ohio, North Carolina, Virginia and West Virginia can support local families in need by making a donation at check-out through donation boxes or adding donations to their purchase at the point of sale. Customers placing online orders also have the option to donate by rounding up their total or adding a donation to their ...