US Business

Consumer prices rose at the fastest rate in four decades in May, the Labor Department said Friday.

The U.S.’s largest hog processor by volume says it isn’t worth doing business in the state due to rising inflation and the regulatory environment.

The Swiss watch industry is moving ever further upmarket, boosting its revenue as brand owners target rich consumers and try to differentiate their products from the Apple Watch and other wearable tech.

Major U.S. food suppliers and restaurants, including Kraft, Tyson and some McDonald’s franchisees, said they would continue to raise prices as they face starkly higher costs.

The tech giant will approve borrowers and fund loans itself rather than rely on a bank.

The hypermarket model is losing ground, local rivals do better on fast delivery, and geopolitics gives the company headaches. Then there’s the red dates problem.

Nearly 1,000 Western companies plan to leave the country or cut back operations, with more write-downs expected as sanctions hit.

Health officials have determined testing is no longer necessary as of Sunday based on available science and data. They will reassess the decision in 90 days.

The move would require tobacco companies to reduce the nicotine in all cigarettes sold in the U.S. to minimally or nonaddictive levels, according to people familiar with the matter.

The Facebook parent’s lawyers have been investigating outgoing COO Sheryl Sandberg’s use of corporate resources for personal projects going back several years, people familiar with the matter say.