Business
Stocks plunge to 8-month lows on China fears; J&J nosedives
Published
8 years agoon
By
Willie DavidNEW YORK (AP) — Stocks are staggering Friday after weak economic data from China has investors worrying about the global economy again. Mounting tensions in Europe over Britain’s impeding departure from the European Union also darkened traders’ moods.
The Dow Jones Industrial Average dropped as much as 549 points. The benchmark S&P 500 index is falling to an eight-month low, with health care companies taking the worst losses.
Johnson & Johnson plunged after Reuters reported that the company has known since the 1970s that its talc baby powder sometimes contained carcinogenic asbestos, a claim the company denied.
KEEPING SCORE: The S&P 500 index lost 51 points, or 1.9 percent, to 2,599 at 2:45 p.m. Eastern time. It’s on track for its lowest close since April 2. The Dow retreated 515 points, or 2.1 percent, to 24,081.
The Nasdaq composite slid 147 points, or 2.1 percent, to 6,923. The Russell 2000 index of smaller-company stocks fell 19 points, or 1.4 percent, to 1,413.
December is typically the best month of the year for stocks and Wall Street usually looks forward to a “Santa Claus rally” that adds to the year’s gains. This month, however, the S&P 500 is down 5.8 percent. That followed a small gain in November and a steep 6.9 percent drop in October.
J&J PLUNGES: Johnson & Johnson dropped 10.1 percent to $132.90 in very heavy trading, which put the stalwart company on pace for its biggest loss in 16 years. Its market value fell by $37 billion. Other health care companies also fell. Pfizer lost 2.2 percent to $43.60 while biotech drugmaker Amgen gave up 2.8 percent to $166.11.
Reuters reported that court documents and test results show Johnson & Johnson has known for decades that its raw talc and finished Baby Powder sometimes contained asbestos, but that the company didn’t inform regulators or the public. The company called the story “false and inflammatory.”
In July the company lost a lawsuit from plaintiffs who argued that its products were linked to cases of ovarian cancer and mesothelioma. A St. Louis jury awarded plaintiffs $4.7 billion. Johnson & Johnson faces thousands of other lawsuits.
SLOWING GROWTH: China’s government said industrial output and retail sales both slowed in November. That could be another sign that China’s trade dispute with the U.S. and tighter lending conditions are chilling its economy. For more than 20 years, China has been one of the biggest contributors to growth in the global economy, and when investors see signs the Chinese economy is weakening, they expect it will affect other countries like the U.S. that sell things to China.
China also announced a 90-day suspension of tariff increases on U.S. cars, trucks and auto imports. It’s part of a cease-fire that the Chinese and U.S. governments announced earlier this month to give them time to work on other aspects of the trade dispute.
Among technology companies, Apple dipped 2.8 percent to $166.15 and Cisco Systems fell 3.7 percent to $45.71. Adobe skidded 6.7 percent to $231.42 after its fourth-quarter profit disappointed investors and it also forecast lower-than-expected earnings in the current fiscal year. Industrial companies sank as well. Boeing lost 2.5 percent to $317.19.
BREXIT TROUBLES: European Union leaders rejected British Prime Minister Theresa May’s request to make changes to their deal covering Britain’s departure from the EU on March 29. British legislators aren’t satisfied with the terms May negotiated, and she canceled a scheduled vote earlier this week because it was clear Parliament wouldn’t approve it. Britain’s economy and financial markets across Europe face severe disruption without an agreement.
European bond prices rose and yields fell. Both the British pound and the euro weakened. The pound slipped to $1.2581 from $1.2660 and the euro fell to $1.1305 from $1.1367.
ENERGY: Oil prices again turned lower, as a slower global economy would weaken demand for oil and other fuels. Benchmark U.S. crude fell 2.6 percent to $51.20 a barrel in New York. Brent crude, used to price international oils, dropped 1.9 percent to settle at $60.28 a barrel in London.
Wholesale gasoline lost 3 percent to $1.43 a gallon. Heating oil fell 1.7 percent to $1.85 a gallon and natural gas dropped 7.2 percent to $3.83 per 1,000 cubic feet.
Energy companies also sagged. Exxon Mobil fell 2.3 percent to $75.18 and Schlumberger fell 5.3 percent to $38.86.
OVERSEAS: Germany’s DAX declined 0.5 percent and the CAC 40 in France declined 0.8 percent. Britain’s FTSE 100 fell 0.5 percent.
Japan’s Nikkei 225 index slid 2 percent and the Kospi in South Korea lost 1.3 percent. Hong Kong’s Hang Seng was down 1.6 percent.
PAYING THE COST: Wholesale club company Costco also dropped following its quarter report, as the stock lost 8.6 percent to $207.12. Analysts said Costco’s profit margins weren’t as strong as they expected, and other companies that sell household goods, like Walgreens and Pepsi, also stumbled.
BONDS: Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.89 percent 2.90 percent.
METALS: Gold fell 0.5 percent to $1,241.40 an ounce. Silver dipped 1.5 percent to $14.64 an ounce. Copper was little changed at $2.77 a pound.
DOLLAR DOWN: The dollar fell to 113.23 yen from 113.60 yen.
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Business
U.S. Hispanic Chamber of Commerce Brings 47th Annual National Conference to Fort Worth Sept. 14-16
Published
1 week agoon
August 7, 2026FORT WORTH, Texas (FNN NEWS) — The United States Hispanic Chamber of Commerce will bring its 47th Annual National Conference to Fort Worth, Texas, Sept. 14-16, 2026, convening Hispanic business leaders, corporate executives, policymakers and entrepreneurs from across the country.
The three-day conference will be held at the Fort Worth Convention Center and is expected to serve as a major national platform for business development, networking, economic opportunity and deal-making.
Nearly five decades after its launch, the USHCC National Conference has grown into what the organization describes as the nation’s largest gathering of Hispanic business decision-makers.
The selection of Fort Worth highlights the North Texas city’s growing position as a center for business, entrepreneurship and culture while providing a national stage for Hispanic-owned businesses and their economic impact.
Fort Worth Selected to Host 2026 National Conference
USHCC announced Fort Worth as the 2026 host following its 46th Annual National Conference in Atlanta.
“We are thrilled to bring the USHCC National Conference to Fort Worth in 2026,” said Jackie Puente, vice president of external affairs at Comcast and chairwoman of the United States Hispanic Chamber of Commerce. “This city showcases the innovation, diversity, and economic impact of Hispanic-owned businesses nationwide. At Comcast, we are proud to support the USHCC’s mission of opening doors and creating opportunities for our community to thrive.”
Fort Worth business leaders also welcomed the opportunity to host the national gathering.
“Fort Worth is proud to host the USHCC National Conference in 2026,” said Ericka Garza, president and CEO of the Fort Worth Hispanic Chamber of Commerce. “This event highlights our city’s vibrant culture and the impact of Hispanic-owned businesses in driving economic growth.”
Connecting Hispanic Businesses With Opportunities
Connection building will be a major focus of the 2026 conference, with programming designed to bring business owners directly together with corporate executives, policymakers, industry leaders and potential partners.
Through curated networking opportunities and informal gatherings, participants will have opportunities to establish relationships that could lead to collaborations, contracts, partnerships and long-term business growth.
The conference also provides companies and organizations seeking to expand their engagement with Hispanic-owned businesses an opportunity to connect with entrepreneurs and business leaders from markets across the United States.
National Leaders Take the Main Stage
The conference’s main-stage sessions will feature influential leaders and nationally recognized voices discussing major issues affecting business, entrepreneurship and economic advancement.
Sessions are expected to provide perspectives on economic trends, public policy, market opportunities and emerging challenges facing businesses.
The discussions are designed to help entrepreneurs and executives better understand changing markets and position their organizations for future opportunities.
Breakout Sessions Focus on Business Growth
Attendees will also have access to industry-focused breakout sessions featuring subject-matter experts addressing specific business challenges and opportunities.
The interactive sessions are designed to provide participants with practical strategies, tools and information they can apply to their companies and organizations.
Topics and speakers for the 2026 conference are expected to be announced as the event approaches.
Hispanic Businesses Take Center Stage in Fort Worth
The conference comes as Hispanic-owned businesses continue to play an increasingly important role in entrepreneurship, job creation and economic development across the United States.
For Fort Worth, hosting the national conference provides an opportunity to showcase the city’s business community while connecting local entrepreneurs with corporate and government decision-makers from across the country.
47th Annual USHCC National Conference
Dates: Sept. 14-16, 2026
Location: Fort Worth Convention Center
City: Fort Worth, Texas
Business
Historic Casements to Debut Mateo Blanco’s ‘Rockefeller Flag’ During The American Legacy Exhibition
Published
2 weeks agoon
July 30, 2026ORMOND BEACH, Fla. (FNN NEWS) — The Casements, the historic Ormond Beach residence where industrialist John D. Rockefeller spent the final years of his life, will host “The American Legacy,” a new exhibition by American artist Mateo Blanco opening Saturday, Aug. 1.
The exhibition brings together painting and photography to explore themes of American history, material, memory, innovation and the ideas that continue to shape the nation’s identity during its Semiquincentennial.
Public Premiere of Rockefeller Flag
The centerpiece of the exhibition is the public debut of “Rockefeller Flag,” a new oil-on-canvas painting created exclusively for The Casements.
Rather than depicting Rockefeller himself, the work examines the relationship between industry, history and artistic tradition. Executed entirely in black oil paint on canvas, Rockefeller Flag draws its conceptual inspiration from petroleum—the natural resource that transformed American industry and helped redefine the modern world.
Blanco notes that petroleum also returns to its artistic origins through oil paint, the medium that has shaped Western painting for more than five centuries, creating an intersection between industrial innovation and artistic expression.
Installed inside Rockefeller’s historic residence, the painting encourages visitors to reflect not only on one of America’s most influential business leaders but also on the broader themes of vision, enterprise, stewardship and the legacy each generation leaves behind.
“For many people, The Casements represents the final chapter of John D. Rockefeller’s life,” Blanco said. “For me, it represents the beginning of another conversation—one about legacy. Every generation inherits ideas, opportunities and responsibilities created by those who came before. What ultimately defines us is what we choose to build with that inheritance.”
Museum Exhibition Highlights
The exhibition also features paintings previously exhibited at The Butler Institute of American Art alongside a curated selection of photographs celebrating the American landscape, its people and the cultural narratives that have shaped the nation across generations.
Together, the works represent one of Blanco’s most comprehensive museum presentations to date, combining painting and photography in a reflection on the American experience.
According to exhibition organizers, The American Legacy is intended as a cultural reflection rather than a political statement, highlighting creativity, craftsmanship, imagination, innovation and the enduring ability of individuals to transform ideas and materials into lasting contributions.
By returning petroleum to the language of oil painting, Blanco creates a dialogue between one of America’s defining industrial achievements and one of the oldest artistic traditions in history.
About Mateo Blanco
Mateo Blanco is an American multidisciplinary artist whose work explores material transformation, cultural memory and the evolving narrative of American identity. Working across painting, photography, sculpture and mixed media, Blanco examines how everyday materials become symbols of history, belonging and collective memory.
His work has been exhibited by museums and cultural institutions throughout the United States, including The Butler Institute of American Art, the Orlando Museum of Art, the Boca Raton Museum of Art, the Museum of Art – DeLand, the Armory Art Center, the Cornell Art Museum and the Brick Store Museum.
His artwork is included in the permanent collections of several American museums, reflecting continued institutional recognition of his contributions to contemporary American art.
Blanco is represented by Rosenbaum Contemporary, with gallery locations in Palm Beach, Boca Raton and Hollywood, Florida.
Exhibition Information
The American Legacy: Featuring the Public Premiere of Rockefeller Flag
Opening Reception
Saturday, Aug. 1, 2026
3–7 p.m.
Location
The Casements
25 Riverside Drive
Ormond Beach, FL 32176
Business
Essence Magazine Co-Founder Jonathan Blount Dies at 84, Leaving Enduring Legacy in Civil Rights and Black Media
Published
3 weeks agoon
July 25, 2026By
Willie DavidORLANDO, Fla. (FNN NEWS) — Jonathan Sebastian Blount Dunn Morse, a visionary entrepreneur, one of the four founders of Essence magazine, pioneering civil rights activist, Black business leader, publisher, and community advocate, died peacefully Monday, July 20, 2026, at his Orlando home surrounded by family after a courageous battle with prostate cancer that later spread to his bones and liver. He was 84.
For more than seven decades, Morse dedicated his life to advancing civil rights, expanding opportunities for Black-owned businesses, strengthening independent Black media, and empowering communities through economic opportunity, education, and public service.
His life’s work stretched from the front lines of the Civil Rights Movement in North Carolina to the boardrooms of Wall Street and, ultimately, to the neighborhoods of Central Florida, where he remained a tireless advocate until his final days.
Jonathan Morse at a Glance
1930s–1940s
- Born in Monroe, North Carolina.
- Adopted and raised by Carrie Blount.
1950s
- Civil Rights activist under Robert F. Williams.
- Survived an attempted lynching while challenging segregation.
Late 1960s
- Conceived the vision that became Essence magazine.
1970
- Co-founded Essence magazine.
- Became its first President and Chairman of the Board.
1970s–1990s
- Helped raise more than $1 million in Wall Street investment capital.
- Founded additional Black publications.
- Consulted nationally with Black-owned businesses.
2000s–2026
- Relocated to Orlando.
- Founded the African American Art and Heritage Museum.
- Led Operation Clean Sweep.
- Mentored Caribbean American Passport News Magazine and celebrated its evolution into CAP Village.
July 20, 2026
- Passed away at age 84.
A Vision That Changed Black Media
Morse is best known as one of the four founders of Essence magazine, the publication that forever changed how Black women were represented in American media.
While history remembers him as a co-founder, Morse often smiled and described himself as the magazine’s “ideational and conceptual founder,” explaining that the original vision for a fashion and lifestyle publication devoted specifically to Black women was his.
That vision became Essence, now one of the world’s most influential media brands serving Black women.
Known affectionately by many as “The Father of Essence,” Morse served as the publication’s first President and Chairman of the Board, helping transform an ambitious idea into a nationally recognized institution.
Under his leadership, the founders became among the first Black-owned businesses to raise more than $1 million on Wall Street, an unprecedented accomplishment during an era when Black entrepreneurs faced enormous barriers to investment capital.
Although philosophical differences over preserving majority Black ownership eventually led Morse and fellow founder Cecil Hollingsworth to leave the company, he remained proud of the publication’s continued success.
Years later, fellow founder Clarence O. Smith publicly acknowledged that Morse had been right in advocating for Essence to remain Black-owned.
A Freedom Fighter Before He Was a Publisher
Long before changing American media, Jonathan Morse was risking his life for civil rights.
Growing up in Monroe, North Carolina, he came under the mentorship of legendary civil rights leader Robert F. Williams, whom Morse affectionately called “Uncle Rob.”
Together with other young activists, Morse helped defend Monroe’s Black neighborhoods from Ku Klux Klan violence while challenging segregation.
At only 14 years old, he nearly lost his life after participating in an effort to integrate a segregated county swimming pool, surviving an encounter with a lynch mob.
More than six decades later, in 2022, the North Carolina African American Heritage Commission honored Morse and his fellow activists with a historical marker recognizing their courage and sacrifice.
Building Black Business
Following his years with Essence, Morse continued creating opportunities for Black entrepreneurs.
He launched several publishing ventures, including:
- In Advance
- Eagle and Swan
- Élan
He later became one of the nation’s most respected consultants to Black-owned businesses and advertising firms.
Among the accomplishments he valued most was helping secure what was then the largest contract ever awarded to a Black advertising agency—a $10 million U.S. Census Bureau contract.
Economic empowerment remained one of his life’s defining passions.
His favorite Frederick Douglass quotation became his guiding philosophy:
“Power concedes nothing without demand.”
Transforming Orlando
When Morse made Orlando his home, he quickly became one of Central Florida’s most recognizable community advocates.
Among his many accomplishments, he:
- Founded the African American Art and Heritage Museum.
- Organized Operation Clean Sweep.
- Served as President of the Parramore Business Association.
- Created a community tool library.
- Coordinated free paint and home improvement supplies.
- Helped secure the first corporate funding for Orlando’s SALT hygiene program.
- Successfully challenged diversity issues within public broadcasting.
- Helped relocate Orlando’s Martin Luther King Jr. Parade onto Orange Avenue’s Main Street.
Whether attending City Council meetings, neighborhood forums, NAACP events, or nonprofit gatherings, Jonathan Morse became known as someone who consistently showed up—not for recognition, but to serve.
A Champion of Independent Black Journalism
Journalism remained one of Jonathan Morse’s greatest passions.
He became a trusted mentor and advisor to Caribbean American Passport News Magazine, working closely with founders Sam and Guenet Roberts as the publication expanded throughout Central Florida and the Caribbean diaspora.
He later celebrated its transformation into CAP Village, where he proudly participated in filming portions of his own documentary.
Morse believed independent Black media preserved history, amplified underrepresented voices, and held institutions accountable.
He encouraged young journalists to pursue difficult stories, ask challenging questions, and never underestimate the value of community journalism.
Family First
Despite a remarkable public career, Jonathan Morse considered family his greatest achievement.
He rarely missed a grandchild’s recital, athletic event, school performance, Easter program, or talent show.
Opening night at the Central Florida Fair became a cherished annual tradition shared with his family.
To Morse, family extended far beyond blood relatives.
Many who knew him referred to him as a brother whose friendship, wisdom, and generosity changed their lives forever.
Courage Through Every Challenge
Later in life, Morse publicly shared his diagnosis of bipolar disorder, hoping his openness would encourage others to seek treatment without fear or shame.
During his battle with cancer, he again chose transparency, believing honesty could inspire hope and reduce stigma for others facing serious illness.
His willingness to discuss deeply personal challenges reflected the same courage that defined his life’s work.
Finding His Roots
Born in Monroe, North Carolina, Morse was adopted at birth by Carrie Blount.
After her passing, he began searching for his biological family through an appeal published in Jet magazine.
That search ultimately reunited him with his birth parents and siblings, completing a deeply personal chapter that remained among the most meaningful experiences of his life.
Comments and Reflections
Family Statement
“Jonathan believed every generation has a responsibility to leave the world better than it found it. We will forever cherish his love, wisdom, humor, and unwavering commitment to family, community, and justice.”
Florida National News
“Jonathan Morse leaves behind more than an extraordinary résumé. He leaves stronger institutions, empowered communities, inspired journalists, successful entrepreneurs, and generations of leaders who benefited from his mentorship. His impact will continue to be felt wherever courageous journalism and community leadership thrive.”
Community Reflection
“Jonathan never measured success by titles or recognition. He measured it by how many people he helped, how many doors he opened, and whether the next generation had greater opportunities than his own.”
Why Jonathan Morse Still Matters
Jonathan Morse’s vision remains remarkably relevant today.
Long before diversity became a corporate priority, he insisted Black voices deserved their own media platforms.
Long before conversations about media ownership became commonplace, he warned of the importance of preserving Black ownership of Black institutions.
Long before community journalism faced unprecedented economic pressures, he championed independent local news organizations as essential pillars of democracy.
His ideas continue to shape conversations about journalism, entrepreneurship, civil rights, economic opportunity, and community empowerment.
Life and Legacy
Jonathan Sebastian Blount Dunn Morse helped shape modern Black America.
He stood against segregation as a teenager.
He helped create one of America’s most influential Black-owned media companies.
He championed Black entrepreneurship.
He strengthened independent journalism.
He revitalized Orlando neighborhoods.
He mentored generations of journalists, civic leaders, entrepreneurs, and community advocates.
His influence extended from Monroe to Manhattan, from Wall Street to Washington, and from Central Florida to communities across the nation.
His legacy is measured not only by the organizations he helped build, but by the countless lives he inspired.
As Jonathan Morse often demonstrated, history is not written only by those who hold public office or corporate titles—it is written by those with the courage to imagine a better future and the determination to build it.
Rest in Peace and Power, Jonathan Sebastian Blount Dunn Morse.
Thank you for believing that ordinary people, united by courage, conviction, and compassion, truly can change the world.
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