Business

Stocks plunge to 8-month lows on China fears; J&J nosedives

Published

8 years ago

December 14, 2018

NEW 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.

Business

GOAA Highlights Airport Improvements, Approves New Small Business Policies

Published

1 week ago

October 22, 2026

FNN NEWS

Gate Link train on an elevated guideway at Orlando International Airport, with palm trees, airport buildings and a control tower behind it.

A Gate Link train travels along an elevated guideway at Orlando International Airport, with the airport’s control tower in the background. Photo courtesy of the Greater Orlando Aviation Authority.

Terminal upgrades, parking projects and international connections mark the authority’s fiscal year review.

ORLANDO, Fla. (FNN) — The Greater Orlando Aviation Authority highlighted terminal improvements, expanded international connections and parking projects during its fiscal 2026 review, while its board adopted changes to a local business program and announced a new statewide small business initiative.

The updates affect Orlando International Airport and Orlando Executive Airport, which GOAA operates.

“We are undertaking an ambitious effort to redefine what it means to deliver a world-class airport experience,” GOAA CEO Lance Lyttle said in the authority’s announcement.
“As we welcome more visitors, more airlines, more routes, and new programs, our responsibility is to elevate every part of the journey — making it more welcoming, intuitive, and connected.”

A Gate Link train travels along an elevated guideway at Orlando International Airport, with the airport’s control tower in the background. Photo courtesy of the Greater Orlando Aviation Authority.

Terminal Improvements Focus on Connections and Families

Among the completed projects was an enclosed pedestrian bridge with moving walkways connecting Orlando International Airport’s train station and Terminal C.

Terminal C also opened a new wing serving gates 250–254, providing additional capacity and becoming the new home for Virgin Atlantic’s airport operations.

Three new Family Zones — one in each terminal — offer spaces for children and families to play, read and recharge. GOAA also highlighted improvements to directional signs along airport roads, in parking areas and throughout the terminals.

Parking Expansion and $40 Million Improvement Program

GOAA reported progress on a parking guidance system at Terminal C, with phased activation across all garages planned through mid-2027.

Dedicated employee parking areas are intended to free additional spaces for travelers. Planning is also underway for two new garages expected to add 8,000 public parking spaces over the next few years.

Separately, the authority’s $40 million Beautiful Airports Program targets safety, functionality and appearance across garages, terminals and other airport areas.

Aviation Investments and International Service

The fiscal year review highlighted a $50 million investment by dnata, a $26 million redevelopment by Signature Aviation at Orlando International Airport and groundbreaking for Sky Harbour’s $40 million campus at Orlando Executive Airport.

International service developments included ZIPAIR’s nonstop passenger charter flights between Orlando and Tokyo and Iberia’s launch of nonstop service to Madrid.

GOAA described ZIPAIR’s service as the first passenger charter connection between Florida and the Asia-Pacific region.

Business Policy Changes Broaden Eligibility

The board adopted revisions to GOAA’s Local Developing Business program following research, town halls and discussions with internal experts.

The changes increase the allowable personal net worth threshold and clarify how assets are excluded from that calculation, including primary residence equity, business equity, retirement assets and certain nonliquid holdings.

Business size standards were also revised to account for inflation and increased operating costs. The announcement did not specify the updated financial thresholds.

A new Small Business program will complement the local program and extend eligibility to qualifying businesses throughout Florida. Under the announced framework, participating businesses must fall within 50% of the applicable U.S. Small Business Administration size standard.

GOAA said detailed guidelines for both programs would be posted on its website. Those guidelines will provide businesses with the information needed to assess eligibility.

Business

Florida Restaurant Show 2026: Orlando Event Features Chef Competitions, Pizza Innovation and Restaurant Solutions

Published

3 weeks ago

October 9, 2026

FNN NEWS

The combined events celebrate their 55th and fifth anniversaries Oct. 25–27 at the Orange County Convention Center, featuring education, culinary competitions and a $5,000 attendee giveaway.

ORLANDO, Fla. (FNN) — The Florida Restaurant Show and Pizza Tomorrow Summit are marking milestone anniversaries at the Orange County Convention Center, bringing restaurant, pizza and foodservice professionals together Oct. 25–27 for product demonstrations, education, culinary competitions and networking.

The Florida Restaurant Show is celebrating its 55th anniversary, while the Pizza Tomorrow Summit marks its fifth. One registration provides access to both events.

Organizer Restaurant Events announced a total of $5,000 in attendee giveaways during the three-day gathering. Attendees can pick up a ticket at registration for a chance to win.

Education Addresses Food Costs, Staffing and AI

More than 40 hours of education cover profitability, food costs, operations, marketing, artificial intelligence, staffing, leadership and customer engagement.

Featured programs include Restaurant Management 201 and 301, presented by Darren Denington, founder and operator of Service with Style, and Alison Anne, leader of Restaurant Revolution.

A new program, “The Wizard Behind the Curtain,” presented by Maverick Theory founder Michael Tipps, examines how owners and entrepreneurs develop restaurant concepts and turn ideas into businesses.

A Team Bundle Package offers savings and flexible attendance options for groups of six from the same organization, allowing employees to explore sessions relevant to their roles.

Culinary Competitions Spotlight Professional Chefs

The Sunshine Plate Challenge Arena features more than 30 professional chefs across four American Culinary Federation-sanctioned competitions, organizers said.

The announced schedule includes:

Sunday, Oct. 25: Student and professional pastry sculpture competitions and the Professional Pork Challenge.
Monday, Oct. 26: The Professional Seafood Challenge, sponsored by Bar Harbor Seafood.
Tuesday, Oct. 27: The Professional Beef Challenge.

The arena’s Sunday programming also includes the Hospitality School Showdown, featuring culinary faculty and alumni representing four Florida hospitality programs.

Unox sponsors the arena, with product support from Gordon Food Service, Bar Harbor Seafood, Expedition Provisions, Yukan Foods, Pizzacini and Keg Kraft Beverage Company.

Pizza Tomorrow Summit Highlights Industry Innovation

The Pizza Tomorrow Summit features education, demonstrations and competitions focused on the pizza industry.

Its announced Monday programming includes a live taping of the “So You Want to Run a Restaurant” podcast with California Pizza Kitchen co-founder Rick Rosenfield. The session, sponsored by Back of House, includes a discussion and giveaway of his book, “The California Pizza Kitchen Story.”

The U.S. Pizza Team and Galbani Professionale U.S. are also hosting the 2026 Galbani Professionale Pizza Cup. Pizza makers and pizza acrobats compete in culinary and acrobatic events, with grand-prize winners earning a trip to compete at the World Pizza Championships in Parma, Italy.

One Registration Connects Two Industries

By holding the events together, organizers give restaurant operators access to ideas emerging from the pizza industry while connecting pizzeria operators with equipment, technology and education relevant to the broader foodservice market.

The Florida Restaurant Show and Pizza Tomorrow Summit conclude Tuesday, Oct. 27, at the Orange County Convention Center.

Business

Dallas Mayor Eric Johnson Listed as Speaker for Global AI, Supply Chain Summit

Published

3 weeks ago

October 9, 2026

FNN NEWS

Organizers say the Oct. 26–27 conference will bring together business leaders, policymakers and technology professionals for discussions on global commerce, digital transformation and industry innovation.

DALLAS, TX (FNN) — Dallas Mayor Eric L. Johnson is listed as an invited speaker for the Global Procurement, Supply Chain, AI & Logistics Summit and Global Recognition Awards 2026, scheduled for Oct. 26–27 in Dallas, according to an announcement from the event’s organizer.

The American Association of Procurement, Supply Chain and Tourism Management, known as AAPSCM, said the two-day summit will take place at the AC Hotel & Residence Inn Dallas by the Galleria, 5460 James Temple Drive.

The conference will focus on artificial intelligence, supply chain resilience, innovation and the future of global commerce.

Mayor listed among international speakers

Organizers identified Johnson among the invited speakers joining executives, policymakers, academics, consultants and professionals in procurement, supply chain management, technology and logistics.

The announcement describes participants as coming “from the United States and around the world.”

According to the release, Johnson is listed among speakers participating in the Oct. 27 program. The announcement does not specify the subject or time of his remarks.

AI, forecasting and digital transformation

The second day’s agenda includes a session on artificial intelligence and machine learning in inventory management, forecasting, and sales and operations planning.

An executive leadership session titled “Driving Innovation & Digital Transformation” is scheduled to follow.

The program will examine technology’s role in procurement, logistics and supply chain operations, with an emphasis on how leaders respond to changing business conditions.

Awards to recognize industry achievement

The summit will also include procurement and supply chain awards, followed by Global Excellence Awards recognizing individuals, organizations and industry leaders.

Organizers said the awards program includes more than 35 categories spanning procurement, supply chain management, artificial intelligence and logistics.

The announcement describes the awards as recognizing “achievement, innovation and leadership.”

Executives and decision-makers expected

AAPSCM said it expects attendees to include chief executives, chief procurement officers, chief supply chain officers, chief operating officers and technology leaders.

The anticipated audience also includes procurement directors, logistics professionals, government representatives and specialists in AI and digital transformation.

About the organizer

AAPSCM describes itself as a U.S.-based nonprofit professional organization that supports professional development through certification, education, training, membership, conferences and international collaboration.

Event and registration information

Event: 2nd Global Procurement, Supply Chain, AI & Logistics Summit & Global Recognition Awards 2026
Dates: Oct. 26–27, 2026
Venue: AC Hotel & Residence Inn Dallas by the Galleria
Address: 5460 James Temple Drive, Dallas, Texas 75240
Organizer: American Association of Procurement, Supply Chain and Tourism Management
Registration: aapscm-conferences.org
Organization: aapscm.org