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PepsiCo blames beverage losses on war, gas prices

NEW YORK (AP) — PepsiCo reported stronger-than-expected revenue in the second quarter despite weaker demand in North America, where it said consumers tightened their budgets as the Iran war caused gas prices to spike. “I think the consumer is worse than what we had anticipated, and it’s driven mainly by gas prices,” PepsiCo CEO Ramon Laguarta said Thursday during a conference call with investors. PepsiCo’s shares fell 4% in morning trading Thursday. The food and beverage giant said its net revenue rose 6.4% to $24.2 billion for the April-June period. That was better than ...

Kimberly-Clark project helps Ohio earn Silver Shovel Award

One of the largest economic development projects in the Mahoning Valley’s history has helped Ohio earn a 2026 Silver Shovel Award, a national recognition for excellence in economic development. Area Development magazine cited Kimberly-Clark’s $800 million manufacturing facility in Trumbull County and its planned creation of 491 jobs among the projects that helped Ohio earn the award in the category for states with populations between 8 million and 12 million. The annual Silver Shovel Awards recognize states that attract high-impact economic development projects generating ...

AAA: Motorists continue to see relief at the pump

Staff report Gas prices are 23 cents lower in Northeast Ohio this week at $3.612 per gallon, according to Monday’s AAA East Central’s Gas Price Report. As millions of drivers filled up and hit the road for the long Independence Day weekend, gas prices were the lowest they’ve been in several weeks. The national average is down 40 cents from a month ago at $3.79 for a gallon of regular. While that number is higher than last year, it’s a relief from this past spring, when the national average peaked at $4.56 on May 21. Crude oil prices have fallen to their lowest levels in ...

Microsoft cuts 4,800 jobs, including many at Xbox in a ‘reset’

REDMOND, Wash. (AP) — Microsoft is cutting 4,800 jobs, about 2.1% of its global workforce, including a large number of workers at its Xbox video game business. The layoffs included 1,600 Xbox workers, with more to come this year in a broader reorganization designed to “reset” Xbox as it faces heightened competition, the company said Monday. “Our business today is not healthy,” said a memo from Xbox CEO Asha Sharma, who took over the gaming division earlier this year. “We are operating at margins that are 3-10x lower than comparable platform and publishing ...

‘Great Immigrants, Great Americans’

This year’s class of “Great Immigrants, Great Americans” includes Citi CEO Jane Fraser, Pulitzer Prize-winning authors Hernan Diaz and Cristina Rivera Garza, and fashion designer Gabriela Hearst. The newly renamed Andrew Carnegie Foundation announced the honorees Tuesday as immigration advocates expressed concern about the future of U.S. immigration policy following last week’s Supreme Court rulings. Foundation President Dame Louise Richardson said the awards, launched in 2006, have never been meant to be political. Earlier this month, the foundation changed its name from the ...

The all-you-can-eat buffet is fading. Thanks, COVID.

LAS VEGAS (AP) — On a cool fall evening after the end of World War II, Las Vegas watched “officialdom and ‘cafe society’ turn out for the opening of America’s first all-you-can-eat buffet,” a local paper wrote. It was a big night in a small town that dreamed of hungry visitors. ...