LAWMAKERS, WARN TRUMP ON TARIFFS
Republican lawmakers cautioned President Donald Trump in a White House meeting Tuesday against levying tariffs on steel and aluminum imports, warning that it would raise prices of the metals and potentially cost the U.S. jobs in other industries including car manufacturing.
Trump’s meeting with the four Democrats and 15 Republicans led off with discussion of his administration’s investigation of steel and aluminum imports.
Commerce Secretary Wilbur Ross submitted his department’s final reports on the metals to Trump in January, and the president has until mid-April to decide on any potential action, which could include tariffs.
Trump said that “many countries” including China are “dumping” imports of the metals on the U.S. market, hurting domestic production.
Ex-employee sues Vice Media for pay discrimination.
A former female employee of Vice Media has alleged in a lawsuit filed Tuesday that the company discriminates against female employees, systemically and intentionally paying them less than their male counterparts.
The lawsuit, which seeks class-action certification, was filed by Elizabeth Rose, who worked at the millennial-focused media company in New York and Los Angeles from 2014 to 2016, serving as a channel manager and project manager.
Energy watchdog warns of U.S. oil boom.
PARIS» A leading energy watchdog says that the boom in U.S. oil production is reminiscent of the rise in output that eventually led to the 2014 crash in crude prices.
The International Energy Agency, a policy adviser to countries, says in its monthly report that “in 2018, fast rising production in non-OPEC countries, led by the U.S., is likely to grow by more than demand.”
Snacks boost PepsiCo.
PepsiCo’s snacks are having to pick up more of the slack for its ailing beverages.
The company posted sales and earnings that topped analysts’ estimates last quarter, helped by an uptick in volume at its Frito-Lay business in North America. The snack growth helped offset continued declines at the Purchase, N.Y., -based company’s drinks business. Still, a disappointing forecast suggests that PepsiCo has more struggles ahead.
AmerisourceBergen climbs on takeover story.
Shares of AmerisourceBergen soared Tuesday on reports that Walgreens is pursuing a complete takeover of the huge drug distributor.
The Wall Street Journal reported late Monday that Walgreens Boots Alliance Inc. reached out to AmerisourceBergen Corp. about a potential deal several weeks ago. The paper, citing anonymous sources, said no offer is on the table.
Walgreens already owns about 26 percent of the company, according to data provider FactSet.
Applebee fires 3 in racial incident.
Applebee’s has temporarily closed a suburban Kansas City restaurant and fired three employees accused of falsely accusing two black women of “dining and dashing.”
The Kansas City Star reports Applebee’s said in a statement that it doesn’t “tolerate racism, bigotry or harassment.” It said it’s closing the restaurant in the Independence Center shopping mall in Independence, Mo., so employees can “regroup, learn and grow.”