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UK Attorney General says government will comply with law to stop no-deal Brexit

09/25/2019

Best Buy targets $1 billion in additional cost cuts by 2025

Best Buy Co. Inc. BBY, +0.45% unveiled on Wednesday its financial targets for fiscal 2025, including $1 billion in additional cost reductions and annual enterprise revenue of $50 billion. The revenue target compares with the electronics retailer’s 2020 guidance range of $43.1 billion to $43.6 billion, which surrounds the FactSet consensus of $43.4 billion. For adjusted operating income, Best Buy targets a rate of 5.0%, which compares with its current 2020 guidance of flat to up slightly from 2019’s 4.6% rate. The stock, which is still inactive in the premarket, has rallied 27.9% year to date, while the SPDR S&P Retail ETF XRT, -0.83% has tacked on 2.2% and the S&P 500 SPX, -0.84% has gained 18.3%.

‘The Daily’ Transcript: Interview With Representative Mikie Sherrill

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Former head of Danske Bank in Estonia found dead

The former head of Danske Bankin Estonia, Aivar Rehe, has been found dead, a spokesman for Estonian police told Reuters on Monday.

Police had been searching for Rehe since Monday when he left his home in Tallinn.

Rehe headed Danske Bank's Estonian branch from 2007 to 2015. The bank is under investigation in several countries including the United States, Denmark, Britain and Estonia, for suspicious payments of some 200 billion euros through its tiny Estonian branch between 2007 and 2015.

Rehe was a witness in the ongoing investigation but not a suspect, according to a spokeswoman at the Estonian prosecutor's office.

Germany has no doubt Britain supports statement on Iran's role in Saudi oil field attack

BERLIN (Reuters) – Great Britain still supports a joint statement made with Germany and France on Iran’s responsibility in an attack on a Saudi Arabian oil field earlier this month, a spokesman for Berlin’s foreign ministry said on Wednesday.

“We have no doubt that Great Britain fully supports the statement”, he said.

Impossible Burger products now selling at Fairway, Wegmans

Impossible Burger is coming to a supermarket near you.

The wildly popular plant-based meat company — whose burgers are served in 7,200 Burger Kings across the country — is now inking deals with New York-area grocers, including Wegmans and Fairway Market, which will begin selling the patties on Thursday.

The Silicon Valley-based Impossible Foods will sell 12-ounce packages of its patties to two Fairways in Manhattan and 100 Wegmans in seven states for $8.99 apiece.

California grocer Gelson’s began selling the brand in its 27 stores last week, but Thursday’s move marks its first grocer offerings on the East Coast.

Just five months ago there were shortages of the burgers, which bleed like real meat but are made from a molecule from beef called heme that’s also found in soybean roots.

“We scrambled to increase our supply,” chief financial officer, David Lee, told The Post. “But we are back in business now and are trying to get that message out.”

Its biggest rival, Beyond Meat, launched by selling to grocery stores. Shares of Beyond Meat are up by more than 500 percent since the company went public in May.

Impossible Foods is expected to go public as well, but its chief executive, Pat Brown, has said recently that its not the right time for the company to go public.

Warren Tied With Biden in New National Poll: Campaign Update

Elizabeth Warren is essentially tied with Joe Biden nationwide, continuing a surge in surveys that showed her ahead in Iowa and New Hampshire, according to a Quinnipiac poll released Wednesday.

The survey will fuel questions about whether the former vice president is losing his perch as the front-runner in the race for the 2020 Democratic nomination.

The poll showed Warren with support from 27% of Democratic and Democratic-leaning voters, compared with 25% for Biden. That’s well within the margin of error of the survey of 4.9% but represents the first time a candidate other than Biden has held a numerical lead since Quinnipiac began its survey in March.

Warren has been riding a wave of momentum since the last Democratic debate earlier this month in Houston.

COMING UP

The United Food and Commercial Workers union will host forums in Iowa and Michigan with Democratic presidential candidates on Sept. 29 and Oct. 13. Michael Bennet, Joe Biden, Cory Booker, Pete Buttigieg, Kamala Harris, Bernie Sanders and Elizabeth Warren have confirmed that they will attend.