British pound surges 2% vs US dollar after UK lawmakers vote to reject a no-deal Brexit

  • Sterling rose 2 percent after U.K. lawmakers rejected leaving the European Union without a withdrawal agreement.
  • The rejection of a no-deal Brexit, passed with 312 votes to 278, set up another vote Thursday on whether its official departure date should be extended.
  • Sterling extended its rally this year, posting its biggest gain since April 18, 2017 when the sterling gained 2.19 percent against the dollar.

Source: British pound surges 2% vs US dollar after UK lawmakers vote to reject a no-deal Brexit

HINES WARDS TABLE 86: Table 86 restaurant suddenly closes | WPXI

A popular restaurant that bears the jersey number of a former Steelers star is suddenly closing.

Damany

@DamanyLEWIS

Table 86 by Hines Ward closed and Hines Ward’s Vines Wine Bar SHUTDOWN. 40 employees impacted. I’m speaking with the owner and finding out why the business suddenly shut down

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That owner, Howard Schiller, said former Steeler Hines Ward is not a part-owner and his ties to the restaurant are in name and jersey number only.

Source: HINES WARDS TABLE 86: Table 86 restaurant suddenly closes | WPXI

Trump’s 2020 budget calls for $2.7T in spending cuts, promises to erase deficit in 15 years

President Trump will unveil his fiscal 2020 budget request to Congress on Monday which calls for $2.7 trillion in spending cuts and balances in 15 years, according to the White House budget office.

Source: Trump’s 2020 budget calls for $2.7T in spending cuts, promises to erase deficit in 15 years

Greensburg Community Development Corp. extends proposal deadline for hotel at 225 S. Penna Ave | TribLIVE.com

The Greensburg Community Development Corp. is giving developers another month to make their pitch for a downtown hotel.

The group issued a request for proposals last month in the hopes of attracting hotel development.

The new deadline is April 1. Kertes said she’s hopeful the group will have proposals to consider by then.

Officials want a new developer to pick up where the last one left off, building a 60- 80-room hotel at 225 S. Pennsylvania Ave. The long-vacant building is owned by Anthony Bucciero, president of Guardian Construction.

The city estimates it would take about $9 million to turn the building into a hotel.

Source: Greensburg Community Development Corp. extends deadline for hotel proposals | TribLIVE.com

Dollar Tree to close up to 390 Family Dollar stores, reports $2.3 billion loss

Discount retailer Dollar Tree plans to close 390 Family Dollar stores this year while renovating 1,000 other locations, the company said in releasing its earnings report Wednesday that showed a $2.3 billion loss during the fiscal fourth-quarter.

Source: Dollar Tree to close up to 390 Family Dollar stores, reports $2.3 billion loss

China stocks hit highest levels since June on reports U.S.-China trade deal draws closer

Asian stocks closed higher Monday after news reports said Washington and Beijing are close to reaching an agreement as early as this month to end their costly tariff war. China moved above best level since last June.

Source: China stocks hit highest levels since June on reports U.S.-China trade deal draws closer

Amazon will reportedly launch its own chain of supermarkets

Amazon is planning to open its own grocery stores in the U.S. at a lower price point than Whole Foods, The Wall Street Journal reported Friday. The company is planning to open dozens of the stores, according to the Journal, with the first one opening in Los Angeles as early as the end of this year.

WalmartKrogerTargetBJsCostco and Sprouts all dipped sharply on the news.

Warren Buffett’s Berkshire Hathaway loses more than $4 billion in single day on Kraft Heinz plunge

  • Warren Buffett’s Berkshire Hathaway loses more than $4 billion in a single day after Kraft Heinz revealed a string of disappointing news.
  • Stock of the packaged food giant, whose products include Heinz Tomato Ketchup and Kraft Macaroni & Cheese, plunged more than 28 percent on Friday.
  • And for Berkshire — which owned more than 325 million shares at the end of 2018 — the losses are steep.
  • “They’re still very, very good businesses,” Buffett said of his consumer staple holdings Kraft Heinz and Coca-Cola as recently as May 2018.

Kraft is Berkshire’s sixth-largest holding behind Apple, a few banks and Coca-Cola.

Source: Warren Buffett’s Berkshire Hathaway loses more than $4 billion in single day on Kraft Heinz plunge

Walmart Q4 2018 earnings stronger

Walmart (WMT), the world’s largest retailer, reported stronger-than-expected fourth-quarter results on Tuesday.

Fourth-quarter adjusted earnings per share came in at $1.41, surpassing analysts’ estimates of $1.33.

Meanwhile, revenue for the fourth quarter hit $138.8 billion, slightly ahead of analysts’ forecasts of $138.76 billion.

It’s all about the digital experience for the world’s largest brick-and-mortar retailer.

Source: Walmart Q4 2018 earnings