Volkswagen is recalling 679,000 cars because they can roll away unexpectedly

• Volkswagen said Friday it’s recalling 679,000 vehicles sold in the US because of an electrical issue that that could cause the car to roll away.
• No injuries have been reported because of the issue.
• The recall includes Volkswagen Jettas, Beetles, Beetle Convertibles, Golfs, Golf Sportwagens and GTIs models made from 2011 through 2019.
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Volkswagen AG said Friday it is recalling 679,000 U.S. vehicles sold since 2011 that could roll away because of an electrical issue.

The automaker said drivers could remove the key after stopping without placing the car in park, which increases the risk the vehicle could roll away. VW said a build-up of silicate on the shift lever micro switch contacts is to blame.

Dealers will install an additional switch and circuit board and disable a micro switch. A Volkswagen spokesman said there are no reports of injuries. The recall covers the Jetta, Beetle, Beetle Convertible, Golf, Golf Sportwagen, and GTI from various model years from 2011 through 2019.

How Beyond Meat Is Breaking Into Fried Chicken

Beyond Meat Inc. (NASDAQ: BYND) shares jumped on Monday after the company announced that it would be making its debut at KFC in Atlanta. Beyond Fried Chicken will launch at one restaurant as part of a test on August 27.

KFC turned to plant-based leader, Beyond Meat, to create a plant-based fried chicken that will appeal to fans of both Beyond Meat and KFC. Customer feedback from the Atlanta test will be considered as KFC evaluates a broader test or potential national rollout.

The restaurant will be offering a six of 12-piece nugget meal as well as boneless wings.

KFC has a history of frequently testing unique menu items as a part of the brand’s food innovation strategy, considering food trends and evaluating customer feedback to KFC’s test offerings. This limited, one-restaurant test of Beyond Fried Chicken is part of KFC’s continued commitment to understanding its consumers’ tastes and preferences.

Ethan Brown, founder and CEO of Beyond Meat, commented:

KFC is an iconic part of American culture and a brand that I, like so many consumers, grew up with. To be able to bring Beyond Fried Chicken, in all of its KFC-inspired deliciousness to market, speaks to our collective ability to meet the consumer where they are and accompany them on their journey. My only regret is not being able to see the legendary Colonel himself enjoy this important moment.

Shares of Beyond Meat traded up about 3% Monday morning to $151.51, in a 52-week range of $45.00 to $239.71. The consensus price target is $165.43.

Atlanta Fed model raises U.S. third quarter GDP view to 2.3%

(Reuters) – The U.S. economy is likely growing at a 2.3% annualized rate in the third quarter, based on the data on domestic durable goods orders in July, the Atlanta Federal Reserve’s GDPNow forecast model showed on Monday.

This was a tad faster than the 2.2% pace estimated by the Atlanta Fed’s GDP program on Aug. 16.

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Dow’s nearly 200-point jump led by gains in shares of Walt Disney, Apple Inc.

The Dow Jones Industrial Average is up Monday afternoon with shares of Walt Disney and Apple Inc. delivering the strongest returns for the blue-chip average. Shares of Walt Disney DIS, +2.00% and Apple Inc. AAPL, +1.54% have contributed to the blue-chip gauge’s intraday rally, as the Dow DJIA, +0.81% is trading 197 points (0.8%) higher. Walt Disney’s shares are up $2.28 (1.7%) while those of Apple Inc. are up $3.23, or 1.6%, combining for an approximately 37-point bump for the Dow. Other components contributing significantly to the gain include Nike NKE, +1.85%, Procter & Gamble PG, +1.54%, and Goldman Sachs GS, +1.45%. A $1 move in any of the index’s 30 components equates to a 6.78-point swing.

Editor’s Note: This story was auto-generated by Automated Insights using data from Dow Jones and FactSet. See our market data terms of use.

GOP Rep. Duffy announces he’s resigning from Congress

Rep. Sean Duffy, a Republican from Wisconsin who was a senior member of the minority on the House Financial Services Committee, announced Monday he was resigning from Congress to take care of his family.

In a post on Facebook, Duffy said he decided to step down after he found out that his expected child is going to need medical attention from a heart condition.

“With much prayer, I have decided that this is the right time for me to take a break from public service,” Duffy said.

Duffy always has had a high profile in Washington because of his appearance on the MTV’ reality show “The Real World-Boston.”

He was elected to his fifth term in the House in 2018 and was mentioned as a possible future chairman of the key financial services committee.

Duffy was a fierce critic of the Consumer Financial Protection Bureau and often unhappy with Federal Reserve decisions.

Duffy said he would step down on Sept. 23.