DFD Partners CEO Devon Drew on the State of US Economy
Devon Drew, CEO and chief investment officer at DFD Partners, joined Cheddar News to discuss the state of the economy as the major indexes continue their positive trends. He also had a few suggestions for investors who are weighing risks. "On that same note with the banking crisis, you've seen money flow out of the banks and into money market mutual funds," Drew said. "From a sector perspective, looking at financials and looking at all the mid and smaller tier banks that could potentially be under similar stresses as we've seen from Credit Suisse and SVB and First Republic."
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
