Skip to main content

Opening Bell 6.27.18

ConAgra merges; Kudlow's new crew; Yakuza stealing watermelon and more!

Judge Orders Migrant Families Separated at Border to Be Reunited Within 30 Days [WSJ]

The nationwide preliminary injunction by U.S. District Judge Dana Sabraw late Tuesday comes in a class action brought by the American Civil Liberties Union on behalf of parents who had been separated from children after crossing the border and detained in immigration custody.

The order requires the federal government to reunite all children within 30 days and those younger than 5 within two weeks. Judge Sabraw said that for now, parents can no longer be detained or deported without their children unless the minors are found to be in danger or the parents have consented.

Conagra Creates Frozen Food Giant With $8.1 Billion Deal for Pinnacle [Bloomberg]

The deal values Pinnacle at $68 a share, the companies said in a statement Wednesday. The price is 23 percent above Pinnacle’s closing level on April 19, when an activist investor disclosed a stake in the Parsippany, New Jersey-based company and began pushing it to sell itself. Bloomberg News reported last week that Conagra had approached Pinnacle about a deal. Including assumed debt, the deal values Pinnacle at about $10.9 billion.

Kudlow moves to restock White House economic team [CNBC]

Kudlow is considering Dan Clifton, head of policy research at Strategas Research Partners, for the role of deputy director, according to three people familiar with the matter. He is also considering bringing on Stephen Moore — economist, conservative commentator and close personal friend of Kudlow’s — for a senior advisory role, these people said.

Clifton was seen at the White House on Monday afternoon. When reached by CNBC on Tuesday, he declined to comment. He is among a handful of candidates for a deputy or chief of staff role, these people say, a slate that includes senior officials at other government agencies. At least one current NEC employee — Andrew Olmem, who runs financial policy — is said to have been considered internally.

Rep. Joe Crowley suffers shocking defeat in New York Democratic primary [MarketWatch]

Both the Associated Press and New York 1 project that Ocasio-Cortez has an insurmountable lead.

Crowley’s defeat is a political earthquake in New York City politics where political machines dominate low-turnout elections and incumbents often go unchallenged.

Crowley — a high-ranking house member who had been considered a contender to take over leadership from Rep. Nancy Pelosi — was no exception to that rule. First elected to Congress in 1998, Ocasio-Cortez was the first primary challenge he had faced in 14 years.

Financially troubled yakuza reduced to stealing watermelons [JapanToday]

"Yakuza who have been hurting financially have been tying up with han-gure (members of non-designated crime groups, such as hot-rod gangs)," a retired gang leader from the Tokai region commented after seeing the NHK program. "But arrangements like those are only found in the big cities like Tokyo and Osaka. The yakuza in rural areas don't have other groups to fall back on for income. Of course, there are groups that manage to do all right by shamelessly going to extremes without any qualms at all."

"Still, I was surprised when a fellow gang member told me he's been pilfering from farms," he related.

In this particular instance, the 37-year-old gangster, named Uemura (a pseudonym), began stealing agricultural produce from about three years ago. As his colleague tells it, "Up to then he had been overseeing operations of food carts at local shrine festivals or involved in various construction work. But the authorities began putting pressure on the shrines and construction companies shun any ties with yakuza.



Opening Bell 6.12.18

Trump-Kim Summit; Fed meetings; Inappropriate air travel and more!

By World Economic Forum (Flickr: The Global Financial Context: James Dimon) [CC BY-SA 2.0], via Wikimedia Commons

Opening Bell 7.13.18

JPMorgan earnings; Activist investors; Woodchucks eating cars and more!


Opening Bell 6.15.18

More mergers; Trump tariffs; Salad snobs and more!


Opening Bell 7.10.18

New justices; Pepsi profits; Smuckers sells; Dick Hancocks and more!


Opening Bell 6.26.18

Navarro says no; Trump attacks Harley; Finance managers steal to buy kittens and more!


Opening Bell 6.8.18

Verizon's new horizon; McDonald's cuts; Smartphone safe lanes and more!


Opening Bell 7.11.18

More tariffs; Twitter troubles; Escape room captures criminal and more!


Opening Bell 6.25.18

OPEC raises; Erdogan elected; Sex robots and more!