Pilgrim's Pride Corp. has reached a plea agreement with the U.S. government over charges of price-fixing in the chicken industry.
Under the agreement, Pilgrim's Pride would pay a fine of $110.5 million as a penalty for restraining competition in three separate contracts with a U.S. customer. In exchange, the U.S. Department of Justice would not bring further charges against Pilgrim's Pride or recommend a monitor or any probationary period.
The agreement must still be approved by the U.S. District Court in Colorado.
Sen. Warren blasts Disney layoff plans
Sen. Elizabeth Warren, D-Mass., sharply attacked Walt Disney Co. over its plans to lay off 28,000 workers, accusing the company of prioritizing executive pay and shareholder interests over the needs of rank-and-file employees.
The senior Massachusetts senator and former candidate for the Democratic presidential nomination Wednesday sent a letter to Disney executive chairman Bob Iger and chief executive Bob Chapek,.
“It appears that – prior to, and during the pandemic – Disney took good care of its top executives and shareholders – and now is hanging its front-line workers out to dry,” Warren said in the letter.
Disney responded with a statement calling Warren's letter “misinformed.”
Wholesale prices see 0.4% spike
U.S. wholesale prices jumped 0.4% in September as food costs rose by the largest amount since May.
The Labor Department said Wednesday that the September increase in its producer price index, which measures inflation before it reaches the consumer, followed a 0.3% rise in August and a 0.6% surge in July which had been the biggest monthly gain since late 2018.
The 0.4% September rise was bigger than economists had been expecting and reflected in part a 1.2% increase in food costs, the sharpest rise since a 5.6% spike in May.
UnitedHealth beats earnings forecast
UnitedHealth Group beat third-quarter earnings expectations and finally hiked its 2020 forecast after holding off while trying to gauge COVID-19's impact..
Overall, the company's net income dropped 10% to $3.17 billion in the quarter, due partially to costs tied to the pandemic. The company booked medical costs from COVID-19 care and testing. It also gave some customers premium breaks and temporarily waived fees like co-payments for doctor visits.
YouTube to remove false vaccine videos
YouTube will begin taking down videos that spread misinformation about vaccines to treat the coronavirus, the company said Wednesday.
The new policy applies to clips with content that contradicts “expert consensus” from local health authorities and the World Health Organization.
This includes claims that COVID-19 vaccines will kill people or cause infertility, or that microchips will be implanted in people who get these treatments, the company said. The second example refers to a conspiracy theory that falsely claims Bill Gates plans to inject chips into every vaccinated person.