To see more, visit http: Singing Ding dong merrily on high His driver Yasin Kawuma was shot dead on Aug.
Egg prices cracked records, making breakfast a lot more expensive and it could be a while before prices recede. Why calculating the full cost of the damage from that Colorado mine spill could be a very tricky task. As you know, it is widely expected that the Federal Reserve will raise interest rates sometime this year.
And today we got another batch of economic data that bolsters that case. The Department of Agriculture reports the prices are at an all-time high following the worst outbreak of bird flu in decades.
And as Morgan Brennan reports from Des Moines, Iowa, the shortage not just for eggs may be far from over. Avian flu, officials now call it the worst animal virus outbreak in U. Forty-eight million chicken and turkeys had to be destroyed, the lion share in Iowa.
After months of uncertainty, state officials are finally lifting the quarantines affecting so many parts of the state. And now, some farmers are starting to restock. The first in Iowa to welcome new birds is Brad Moline, whose 43, turkey farm became infected in May. It was a huge relief, no question about it.
His new turkeys will begin hitting the market later this fall. Still, it will take about 12 to 18 months for U. In the meantime, egg prices have soared. With the wholesale price for a dozen Midwest large eggs up more than percent since April.
Analysts expect prices to remain elevated into But even as farmers begin to get back to business, the entire industry is bracing for more bird flu this fall when waterfowl carrying the virus fly south.
Producers, state officials and the USDA are scrambling to prepare. We are preparing for the fall and spring. The USDA says it will also have a vaccine ready if the need arises.
The ripple effects extend here to the Iowa state fair, which normally has 1, poultry exhibits. Because of bird flu, fairs across the U. As for that economic data, we referred to a moment or so ago, the number of U. Jobless claims increased 5, to a seasonally adjustedthe average for the past month fell to its lowest level in 15 years.
Retail sales rebounded in July suggesting, the economy is growing solidly in the third quarter. The strong sales were due to increased purchases of everything from automobiles to furniture.
Change of pace on Wall Street today after numerous triple digit moves. Stocks ended basically near flat. A drop in energy shares did offset the positive economic news we just mentioned and those stronger- than-expected results from Cisco NASDAQ: CSCO we told you about last night.
The big story was in the oil pits today. The suit claimed that the bank defrauded investors about the safety of mortgage-backed securities purchased in and That time, of course, leading up to the financial crisis.
As part of the agreement, court papers show that Goldman denied liability. The agency also described this settlement as the first of its kind.this is "nightly business report" with tyler mathisen and sue guerra. >> shell shocked, egg prices cracked record making.
breakfast a lot more expensive and it could be a while before prices recede. “Nightly Business Report produced by CNBC” (NBR) is an award-winning and highly-respected nightly business news program that airs on public television.
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Cole is the Kaye Distinguished Professor of Finance in the College of Business at Florida Atlantic University in Boca Raton, Florida, where he has taught since August He teaches graduate-level classes in corporate finance.