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Ticker: US stocks sink on worries about rate hike

U.S. stocks dropped on speculation the Federal Reserve may raise interest rates this year to keep a lid on inflation. The S&P 500 slumped 1.2% Wednesday after the Fed released projections showing nearly half its policymakers foresee at least one increase to its main interest rate in 2026. The Dow Jones Industrial Average went from a gain of 0.5% in the morning to a drop of 1%, while the Nasdaq composite sank 1.3%. Japanese trade officials raid 6 ice cream makers Six major Japanese ice cream makers have been raided by the government fair trade watchdog officials on suspicion of price ...

Fox to buy stream pioneer Roku in a $22 billion deal

Fox Corp. has agreed to buy the streaming pioneer Roku in a cash-and-stock deal valued at approximately $22 billion, including debt. Roku will continue to be run as an open, partner-friendly platform, the companies said Monday, and there appears to be no immediate changes that customers will see. Fox and Roku said that the combined company will become the third-largest player in U.S. television by share of viewing. Media reports had surfaced on Friday that Roku was looking at its strategic options, including a possible sale. Speculation was rampant as to which companies might be ...

Briefcase: EFSA achieves accreditation for outpatient health care

East Freedom Surgical Associates has achieved accreditation from the Accreditation Association for Ambulatory Health Care, a nationally recognized organization dedicated to advancing excellence in outpatient health care. The accreditation recognizes EFSA’s commitment to providing high-quality, safe and patient-centered surgical care. AAAHC accreditation is awarded only to organizations that demonstrate compliance with rigorous national standards in patient safety, quality improvement, clinical care, infection prevention, governance and operational excellence. The accreditation ...

Briefcase

Finelli’s wins award Finelli’s Italian Villa of Altoona has been named a winner of the 2026 DiRoNA Award. The DiRoNA Award (Distinguished Restaurants of North America) is a prestigious honor presented to exceptional fine dining establishments across the United States, Canada, Mexico, and the Caribbean. Established in 1990, it celebrates restaurants that consistently deliver excellence across the entire dining experience “I feel about 15 feet tall. We are excited to get an award like that. Not very many restaurants get it,” said owner Frank Finelli. “Finelli’s Italian ...

Stocks leap, oil drops after Iran deal

NEW YORK — Stock markets rallied worldwide Monday, and oil prices eased after the United States and Iran reached a tentative deal to extend their ceasefire and reopen the Strait of Hormuz to get the global flow of crude going again. The S&P 500 rose 1.7% on hopes that this time, the announcement of an Iran-U.S. agreement will mean a long-term fix to a conflict that has worsened inflation around the world. The Dow Jones Industrial Average climbed 468 points, or 0.9%, to a record, and the Nasdaq composite jumped 3.1%. Stocks got a lift after the price for a barrel of Brent crude oil ...

Nara Organics recalls baby formula

SAN FRANCISCO — Nara Organics recalled its organic baby formula sold nationwide in Target stores and online Saturday after a multistate outbreak of infant botulism, federal authorities said. Three babies between 2 and 5 months became ill in April and May in California, Pennsylvania and Washington after consuming Nara Organics Whole Milk Organic Powdered infant formula, which is also sold on Nara.com, the U.S. Food and Drug Administration said. They were hospitalized and treated with the FDA-approved treatment for infant botulism, the agency said. Infant botulism is a rare but ...