Current Events in March 2019

Borrowers and lenders alike breathed a collective sigh of relief on Wednesday as Federal Reserve Chairman Jerome Powell’s forecast gave two thumbs up. In a nutshell, Powell’s outlook was affirmative.

“My colleagues and I have one over-arching goal: to sustain the economic expansion with a strong job market and stable prices for the benefit of the American people. The U.S. economy is in a good place, and we will continue to use our monetary policy tools to keep it there,” he said.

As far as interest rates and inflation go, Powell envisioned that interest rates will be in a holding pattern for a while and confirmed that inflation continues to be in check.

“We don’t see data coming in that suggests that we should move in either direction,” Powell commented after officials lowered their projected 2019 interest-rate increases this year to zero from two. “They suggest that we should remain patient and let the situation clarify itself over time. It may be some time before the outlook for jobs and inflation calls clearly for a change in policy.”

The Fed reports that on a 12-month basis, inflation has declined across the board, pegging the shift on lower energy prices. Looking further down the balance sheet, inflation for non-food and non-energy items are holding steady near 2 percent.

“On balance, market-based measures of inflation compensation have remained low in recent months, and survey-based measures of longer-term inflation expectations are little changed,” wrote the agency in its review of the current financial climate.

The deeper dive

While low inflation sounds like a good thing from a consumer angle, Powell called out global price pressures as being weak -- in his words, “one of the major challenges of our time.”

“I don’t feel that we have kind of convincingly achieved our 2 percent mandate in a symmetrical way,” Powell reflected. “That gives us the ability to be patient, and not move until we see that our target goals are being achieved.”

The jury might be out for a while trying to decipher Powell’s request for patience. “It was very dovish,’’ Stephen Stanley, chief economist at Amherst Pierpont Securities LLC, told Bloomberg. “It suggests that the Fed has jumped to the conclusion that the weakening we have seen since the start of the year will be more fundamental and more persistent, rather than being temporary crosscurrents.”

“Policy makers appear to have cooled on the notion of any meaningful, lasting impact from last year’s tax reforms and instead project a return to trend growth, a stabilization of the unemployment rate and little pickup in price pressures. Amid this backdrop, they do not see much need to further normalize interest rates,” wrote Bloomberg economists Carl Riccadonna, Yelena Shulyatyeva, and Tim Mahedy.

Despite the Affordable Care Act (ACA), more than 60 percent of consumers who have filed for bankruptcy said a medical bill “very much” or “somewhat” contributed to their bankruptcy, according to a study published recently in the American Journal of Public Health.

The study, which was conducted by two doctors, two lawyers, and a sociologist from the Consumer Bankruptcy Project (CBP), involved the examination of documents from a random sample of about 1,000 bankruptcy cases between 2013 and 2016.

The study authors found that medical expenses or income loss due to illness caused significant financial troubles for many. Middle-class Americans, in particular, “suffer at the hands of our health care finance system” because they’ve faced increasing copayments and deductibles in recent years despite the ACA, the report said.

Toll of medical problems

According to the study, 44 percent of American families had an unexpected medical expense last year. Of that figure, 40 percent surveyed said they didn’t have the money to deal with a $400 emergency.

"Unless you're Bill Gates, you're just one serious illness away from bankruptcy. For middle-class Americans, health insurance offers little protection. Most of us have policies with so many loopholes, copayments and deductibles that illness can put you in the poorhouse,” said lead author Dr. David Himmelstein in a statement.

“And even the best job-based health insurance often vanishes when prolonged illness causes job loss - just when families need it most. Private health insurance is a defective product, akin to an umbrella that melts in the rain."

The authors noted that medical bills “frequently cause financial hardship” and the U.S. Consumer Financial Protection Bureau (CFPB) reported that they were the most common cause of unpaid bills sent to collection agencies in 2014.

ACA hasn’t reduced proportion of bankruptcies

The study found “no evidence” that the ACA reduced the number of bankruptcies caused by medical problems. Nearly two-thirds (65.5 percent) of debtors cited a medical contributor to their bankruptcy in the period prior to the passage of the ACA as compared to 67.5 percent in the three years after the law went into effect.

"The ACA was a step forward, but 29 million remain uncovered, and the epidemic of under-insurance is out of control. We need to move ahead from the ACA to a single-payer, Medicare for All system that assures first-dollar coverage for everyone,” said study author Dr. Steffie Woolhandler.

“But the Trump administration and Republicans in several states are taking us in reverse: cutting Medicaid, threatening to gut protections for the more than 61 million Americans with pre-existing conditions, and allowing insurers to peddle stripped-down policies that offer no real protection,” Woolhandler added.

It’s no longer against the law to smoke medical marijuana in Florida, over two years after residents first said they wanted to bring legalization to their state.  

A whopping 70 percent of Florida voters had supported medical marijuana legalization under a 2016 constitutional amendment, but Florida’s then Governor Rick Scott the following year signed into law regulations that limited cannabis consumption to only concentrated forms of the substance.

Capsules, topicals, pods that could be used for vaping, creams, and tinctures were allowed, but regular old marijuana that could be smoked was not.

On Wednesday, Florida Governor Ron DeSantis signed a bipartisan law overturning the previous administration’s smoking ban. Now, Florida residents with medical cards who are over the age of 18 can have up to 2.5 ounces of regular marijuana. Underage patients who want smokable weed will be required to have a diagnosis for a terminal illness and a second opinion.

Advocacy groups celebrated the news. They previously had expressed concerns that concentrated forms of cannabis don't work on some patients.

"(Medical marijuana) should be an option available to patients and a decision for patients to make with their doctors, not one that should be made by government officials," the Marijuana Policy Project told CNN.

Cyclist enthusiasts who watched music videos on their $2,000 exercise bike may be surprised to learn that the music came for free, though not for them.

A group of music publishers are suing Peloton, the company that sells the luxury stationary bikes tailored for high-tech roadies. The bikes come with  screens that stream work-out videos and play pop music.

Though music is a popular aspect of the Peloton bikes, the music publishers say in a $150 million lawsuit that the company never obtained permission or paid a licensing fee before using thousands of popular songs.

The publishers represent major artists such as Lady Gaga, Justin Timerbalek, Ariana Grande and Rihanna.

"Music is a core part of the Peloton business model and is responsible for much of the brand's swift success," David Israelite, National Music Publishers Association's president and CEO, told CNBC.

Peloton told CNBC that it has “great respect for songwriters and artists.” The company says it is still reviewing the lawsuit.

Peloton is planning to go public this year and is rumored to be worth $4 billion.

Amid growing consumer and governmental pressure, cell phone providers are taking steps to curb the nuisance of robocalls.

AT&T and Comcast have announced they will work together to help consumers avoid calls placed by machines. The two companies are offering authentication on calls between networks to customers later this year.

When the system goes online, customers could see verified calls not only from callers using the same provider but, more importantly, from other participating providers. The companies say their successful test used phones on the companies’ actual consumer networks.

According to AT&T, test calls were authenticated and verified using the SHAKEN/STIR protocol – believed to be an industry first for calls between separate providers. AT&T and Comcast also helped to develop and refine SHAKEN/STIR, which is an important tool in the broader effort to combat fraudulent robocalls.

Harder to spoof

The verification protocol lets consumers know that an incoming call is really coming from the number listed on the caller ID display, making “spoofed” calls much less effective. AT&T concedes that the authentication protocol won’t eliminate unwanted robocalls by itself; however, it is a key step toward giving customers greater confidence and control over the calls they receive.

Under the new system, if a call is illegally “spoofed” – or shows a faked number – it will not be classified as verified. At the same time, verification will confirm that a call is really coming from the identified number or entity.

As he was addressing an audience at the Economic Club in Washington, AT&T CEO Randall Stephenson was interrupted by, what else, a robocall.

“I’m getting a robocall,” Stephenson said looking down at his Apple Watch. “It’s literally a robocall.”

Pressure is building to do something

Wireless providers are under increasing pressure to find a solution to the growing scourge of robocalls. Last November, Federal Communications Commission Chairman Ajit Pai laid down the law to providers, demanding that they find a way to block “spoofing” before the end of 2019.

Before the end of this year, the FCC chairman said he expects all cell phone carriers to have a call authentication system in place. The companies that have made little progress, he says, need to catch up. In some areas, he says the entire industry needs to work together on this.

The FCC said some carriers have committed to rolling out a robust plan in the coming months but others hedged, citing concerns that other carriers appear to have already addressed the issue. But Pai said he believes that wireless providers, interconnected VoIP providers, and telephone companies should make real caller ID authentication a priority and believes that major carriers can meet his 2019 goal.

“This goal should be achievable for every major wireless provider, interconnected VoIP operator, and telephone company—and I expect those lagging behind to make every effort to catch up,” Pai said. “If it appears major carriers won’t meet the deadline to get this done this year, the FCC will have to consider regulatory intervention,” Pai said last month.

Pickup trucks remain popular with consumers and big sellers for automakers, but new crash tests show most don’t do a good job of protecting front-seat passengers in a crash.

The Insurance Institute for Highway Safety (IIHS) put 11 current model pickups through front-side impact tests and only two -- the Ford F-150 and Nissan Titan --  earned a good rating.

The Honda Ridgeline, which was rated “acceptable” in the passenger-side test, was the only pickup to earn a 2019 Top Safety Pick award, bolstered by its good headlights and available front crash prevention.

The Toyota Tacoma also did well in the passenger-side test, earning an “acceptable” rating. However, the vehicle missed out on the Top Safety Pick award because of its headlights.

Toyota Tundra rated poor

In this latest round of tests, IIHS rated 11 crew cab pickups in the passenger-side test — four small and seven large. Among full-size pickups, the Toyota Tundra only managed a poor rating while five of the trucks were rated as marginal.

"We commend Ford, Nissan and Ram for providing state-of-the-art crash protection for both drivers and front passengers of their large pickup models," says David Zuby, IIHS chief research officer. "As a group, however, the pickup class still has a lot of work to do."

The video below graphically illustrates the damage that occurs to a pickup when it is struck from the front on the passenger’s side.

Working to improve

Automakers whose trucks lagged in the crash tests say they are constantly working to improve safety.

“We’ll continue to look for ways to improve in an effort to exceed customers’ expectations — particularly in new testing such as IIHS’ passenger-side front small overlap (tests) for pickup trucks,” a spokesman for Toyota told CNBC.

What IIHS calls a “small overlap crash” occurs when just the front corner of the vehicle strikes another vehicle or an object such as a tree. Two years ago, the organization developed the passenger-side test to ensure that occupants on both sides are protected in one of these crashes.

IIHS says it took longer for automakers to meet the tough safety guidelines in pickups, so it isn’t surprising that they’re behind on the passenger-side standard. The group says most pickups earn a “good” rating for protecting the driver side.

Ford Motor Company is recalling 2,108 model year 2019 Fusion Energi Hybrids.

The vehicles may not adequately protect against direct and indirect contact of high voltage sources during normal operation, increasing the risk of injury.

What to do

Ford will notify owners, and dealers will install a Bus Electrical Center (BEC) cover over the high voltage fuses free of charge.

The recall is expected to begin April 1,2019.

Owners may contact Ford customer service at 1-866-436-7332. Ford's number for this recall is 19C05.

Productos La Aguadillana of Aguadilla, Puerto Rico, is recalling approximately 35,870 pounds of breaded chicken patties.

The product may be contaminated with extraneous materials -- specifically pieces of metal.

There are no confirmed reports of adverse reactions due to consumption of these products.

The following items, produced on February 27 and March 1, 2019, are being recalled:

• 10-lb. boxes containing 47 portions of “Productos La Aguadillana, Inc. Breaded Chicken Patty,” with a case code of TCE03060A, a packaging date of 03/01/2019, and an expiration date of 02/29/2020 represented on the label.
• 10-lb. boxes containing 47 portions of “Productos La Aguadillana, Inc. Breaded Chicken Patty,” with a case code of TCE03058A, a packaging date of 02/27/2019, and an expiration date of 02/27/2020 represented on the label.

The recalled products, bearing establishment number “P-7360” inside the USDA mark of inspection, were shipped to institutions in Puerto Rico.

While the product was distributed to schools, it resulted from a commercial sale and was not part of food provided by USDA for the National School Lunch Program.

What to do

School programs that have purchased these products should not consume them., but discard or return them to the place of purchase.

Consumers with questions about the recall may contact Luis Alvarez at (787) 891-5720.

Monogram Meat Snacks of Martinsville, Va., is recalling approximately 191,928 pounds of ready-to-eat pork sausages.

The products may be adulterated due to possible product contamination.

There are no confirmed reports of adverse reactions due to consumption of these products.

The following ready-to-eat pork heat-treated shelf-stable items, produced and packaged for Conagra Brand / Duke’s Meats between January 16 and March 7, 2019, are being recalled:

• 5-oz. plastic pouches of “DUKE’S HICKORY PEACH BBQ SMOKED SHORTY SAUSAGES, Made with A PEACH BBQ RELISH,” that contain a package and case code of 1580002003, and various BEST IF USED BY dates from Jan. 16, 2019 through Jan. 27, 2020.
• 5-oz. plastic pouches of “DUKE’S HOT & SPICY SMOKED SHORTY SAUSAGES, Made with FRESH-DICED SERRANO PEPPERS,” that contain a package and case code of 1601201052, and various BEST IF USED BY dates from Jan. 16, 2020 through Feb. 3, 2020.
• 16-oz. plastic pouches of “DUKE’S ORIGINAL RECIPE SMOKED SHORTY SAUSAGES, Made with A CLASSIC BLEND OF SPICES & FRESHLY-CHOPPED HERBS,” that contain a package code of 1601201182, various BEST IF USED BY dates from Jan. 11, 2020 through Feb. 27, 2020, and a case code of 1580002130.
• 5-oz. plastic pouches of “DUKE’S CAJUN STYLE ANDOUILLE SMOKED SHORTY SAUSAGES, Made with ROASTED RED PEPPERS & CAJUN SPICES,” that contain a package and case code of 1580002073, and various BEST IF USED BY dates from Jan. 10, 2020 through Feb. 13, 2020.
• 5-oz. plastic pouches of “DUKE’S ORIGINAL RECIPE SMOKED SHORTY SAUSAGES, Made with A CLASSIC BLEND OF SPICES & FRESHLY-CHOPPED HERBS,” that contain a product and case code of 1601201051, and various BEST IF USED BY dates from Feb. 14, 2020 through Feb. 29, 2020.
• 5-oz. plastic pouches of “DUKE’S HATCH GREEN CHILE SMOKED SHORTY SAUSAGES, Made with ROASTED & DICED HATCH CHILES,” that contain a package and case code of 1580002002, and various BEST IF USED BY dates from Jan. 13, 2020 through Feb. 3, 2020.
• 5-oz. plastic pouches of “DUKE’S ORIGINAL RECIPE SMOKED SHORTY SAUSAGES, Made with A CLASSIC BLEND OF SPICES & FRESHLY-CHOPPED HERBS,” that contain a package code of 1601201051, various BEST IF USED BY dates from Feb. 17, 2020 through March 1, 2020, and a case code 1601201272.
• 5-oz. plastic pouches of “DUKE’S HOT & SPICY SMOKED SHORTY SAUSAGES, Made with FRESH-DICED SERRANO PEPPERS,” that contain a package code of 1601201052, various BEST IF USED BY dates from Jan. 16, 2020 through Feb. 24, 2020, and a case code of 1601201274.

The recalled products, bearing establishment number “EST. 795” inside the USDA mark of inspection, were shipped to retail locations nationwide.

What to do

Customers who purchased the recalled products should not consume them, but discard or return them to the place of purchase.

Consumers with questions about the recall may contact Gary Brooks at (855) 556-1351.

American fliers have weighed in on their favorite airlines, and Delta, Alaska, and Southwest Airlines rule the roost, according to a new study by ThePointsGuy (TPG). Bringing up the rear was Allegiant, Frontier, and Spirit.

Taking into account everything from on-time arrivals to the number of cities served, TPG found some benchmarks that consumers might find interesting the next time they book a flight.

Winners and losers

Overall:Delta captured first place overall with a remarkable 92.7 percent on-time arrival score, the largest network of lounges, fewest people bumped, and the largest number of cities served.

On the flip side? Discount carrier Frontier, thanks to its paltry on-time record, fell to last place. The carrier also scored low due to run-of-the-mill cabin features, a tendency to bump paying passengers, and a high rate of customer complaints.

Affordability: Combing through airline financials, websites, Department of Transportation files, fees, customer ratings, and other metrics, the formula TPG created found that Spirit Airlines had the best ratio of fare cost-per-mile. “On average, Spirit passengers only paid about $1 per mile flown in base fare for every $2.60 that Delta flyers paid,” was TPG’s analysis. “If you can avoid the plethora of fees, Spirit can be a bargain.”

Regarding ancillary fees -- those nasty charges for every little thing the passenger wants to bring or do onboard -- Southwest Airlines got the prize for not penny-pinching its passengers. Of course, free is hard to beat, and with Southwest allowing fliers to check two bags for free and not charging to change a flight, it was pretty much a shoo-in in that metric.

IIf fees are a turn-off, you might want to avoid Hawaiian Air. The airline charges an acceptable $30 for a checked bag but an astronomic $300 for flight changes, making it the study’s worst value for fees. You may also want to double-check your wishlist against what Delta is going to charge you for seatback screens, extra legroom, and the like.

On-Time Performance: Hawaiian Airlines had the fewest delayed flights or cancellations and Frontier had the most delays -- an eye-popping 24.6 percent of its flights.

Comfort: It makes economic sense that fare price and comfort go hand-in-hand. But for fliers who concern themselves with legroom and free Wi-Fi, here’s the takeaways:

• JetBlue and Southwest tied for the most generous seat pitch in coach, at 32.9 inches on average, while Spirit’s 28-inch average seat pitch is the least-giving.

• Hawaiian and Frontier have the widest seats on average at 18 inches. Alaska has the narrowest seats at 17 inches.

• Alaska is the only airline that has power outlets at every seat.

• JetBlue wins the Wi-Fi battle with free Wi-Fi on every plane.

Customer Satisfaction: TPG took into account the number of passenger complaints against each airline filed with the DOT and the number of lost luggage complaints. The winner? Southwest Airlines.

ConsumerAffairs reviewers give Southwest positive ratings, and TPG’s survey takers seem to agree.

“Southwest has a reputation for great service and loyal customers, and it showed,” wrote TPG. “Frontier, on the other hand, racked up nearly the same number of complaints as airlines that flew 10 times as many people. If you check bags, you have the most reason to worry if flying American, while Spirit flyers can probably rest easy.”

On the opposite end of the satisfaction spectrum were Frontier with a jumbo jet-sized number of complaints. American’s baggage handling took a hit for misplacing 3.8 bags per every 1,000 passengers compared to Spirit, which only lost 1.7 bags per 1,000 passengers.

San Francisco city officials have introduced a measure to ban the sale of e-cigarettes within the city until the Food and Drug Administration (FDA) can rule on their safety.

It’s the first U.S. city to consider outlawing the sale of the electronic nicotine-delivery devices, which have come under fire because of their growing popularity among teens. The city has already outlawed the sale of flavored e-cigarettes because they are believed to be more popular with young people.

If the proposed ordinance is adopted in San Francisco, it would prohibit the sale of e-cigarettes within the city limits, either in retail stores or online. The measure was announced Tuesday by the city attorney, Dennis Herrera, and Supervisor Shamann Walton.

“San Francisco has never been afraid to lead and we’re certainly not afraid to do so when the health and lives of our children are at stake,” Herrera said.  E-cigarettes have wiped out the hard-fought gains we have made in curbing youth tobacco use. Today we are taking action to protect our kids.”

Would require FDA review

Herrera said the law requires a new tobacco product, before it goes on sale, to be reviewed by the FDA for its impact on health.

“Inexplicably, the FDA has failed to do its job when it comes to e-cigarettes,” Herrera said. “Until the FDA does so, San Francisco has to step up. These products should not be on our shelves until the FDA has reviewed the threat they pose to public health.”

Walton singled out Juul, an e-cigarette maker owned by Altria but based in San Francisco,  claiming it is contributing to increased numbers of people addicted to nicotine.

“Banning vaping products that target young people and push them towards addiction to nicotine and tobacco is the only way to ensure the safety of our youth,” he said.

‘Modern day prohibition’

In an interview with USA Today, Gregory Conley, president of the American Vaping Association, pointed out that actual tobacco products, such as cigars and cigarettes, are still legally sold in the California city.

"No youth should vape, but no politician should try to enact modern-day prohibition," Conley told the newspaper. "It is hard for San Francisco to get even more absurd, but this proposal and the rhetoric around it is absolutely insane."

If the San Francisco action weren’t bad enough for Juul and its parent company Altria, FDA Commissioner Scott Gottlieb disclosed that his meeting last week with Altria officials to discuss its e-cigarette business was “difficult.”

Gottlieb said the meeting left the firm impression with him that Altria’s decision to invest in the e-cigarette maker last year was purely a business decision and not an effort to offer a tobacco substitute.

A new study conducted by researchers from the University of South Australia could have consumers running out to buy nuts.

According to the study, adults who eat nuts regularly -- 10 grams per day -- can improve their cognitive functioning in old age.

“Population ageing is one of the most substantial challenges of the twenty-first century,” said lead researcher Dr. Ming Li. “Not only are people living longer, but as they age, they require additional health and support which is placing unprecedented pressure on aged-care and health services.”

Nuts could be the answer

To see how eating a steady intake of nuts affected cognition in older adults, the researchers evaluated over 4,800 adults aged 55 and older who were participating in the China National Health Survey between 1991 and 2006.

At the start of the study, 17 percent of the participants reported consuming nuts regularly. Over the course of the study, the researchers regularly measured the participants’ food intake and cognitive functioning.

The researchers found that eating 10 grams of nuts per day positively affected the participants’ cognitive functioning, including their memory, thinking, and reasoning skills.

“By eating more than 10 grams (or two teaspoons) of nuts per day, older people could improve their cognitive function by up to 60 percent -- compared to those not eating nuts -- effectively warding off what would normally be experienced as a natural two-year cognitive decline,” said Dr. Li.

Staying mentally sharp

As the population ages, the researchers are concerned about what that means for what kind of care older people will need, and they cite the World Health Organization’s finding that by next year, people over 60 will outnumber those under five years old.

However, these findings are a bright spot, in that they offer some way for older people to stay sharp and push off any decline in mental capabilities.

“As people age, they naturally experience changes to conceptual reasoning, memory, and processing speed,” explained Dr. Li. “This is all part of the normal ageing process. But age is also the strongest known risk factor for cognitive disease. If we can find ways to help older people retain their cognitive health and independence for longer -- even by modifying their diet -- then this is absolutely worth the effort.”

A second jury has found glyphosate, the controversial key ingredient in Monsanto’s weed-killing product Roundup, caused cancer in an individual who regularly used it.

The ruling comes seven months after Dewayne Johnson, a former school groundskeeper with non-Hodgkin’s lymphoma, won a lawsuit alleging that Roundup was a factor in his terminal illness.

It was announced Tuesday that a jury unanimously decided that 70-year-old Edwin Hardeman’s exposure to the herbicide was what caused his non-Hodgkin’s lymphoma. Hardeman used Roundup for almost 30 years to control poison oak and weeds on his property, according to court documents.

In a statement, Environmental Working Group (EWG) President Ken Cook said the verdict “reinforces what another jury found last year, and what scientists with the state of California and the World Health Organization have concluded: Glyphosate causes cancer in people.”

“As similar lawsuits mount, the evidence will grow that Roundup is not safe, and that the company has tried to cover it up,” Cook said.

Thousands of lawsuits

Bayer, which purchased Monsanto in June of 2018 for $63 billion, is facing more than 11,000 pending lawsuits alleging that the herbicide causes cancer. Hardman’s is the first federal case against Monsanto.

Bayer has maintained that “hundreds of studies indicate glyphosate doesn’t cause cancer,” despite a finding issued in 2015 by the World Health Organization’s International Agency for Research on Cancer which classified the substance as “probably carcinogenic to humans.”

In February, a meta-analysis found that glyphosate increases the cancer risk of heavily-exposed individuals by 41 percent. Bayer countered by saying the analysis provided “no scientifically valid evidence that contradicts the conclusions of the extensive body of science demonstrating that glyphosate-based herbicides are not carcinogenic."

Attorneys for Hardeman argued that information disseminated by Monsanto was “inaccurate, false, and misleading” and did not provide consumers with adequate warnings regarding the product’s safety.

The second phase of the trial, set to begin Wednesday, will focus on determining if Bayer is liable for damages.

In recent years, Instagram has become increasingly populated by posts containing links to products. Now, the platform is making it easier for consumers to buy products they see in posts or Stories with the addition of a new feature which enables users to make purchases directly from the app.

After tapping a product tag on feed posts, Stories, or Explore content, users can simply click the “Checkout on Instagram” label, enter their payment information, and complete the purchase. The new feature eliminates the need for users to exit the app and visit the vendor’s website to purchase a product.

Payment information can be saved for future transactions, and orders can be managed in an “orders” section of users’ profiles. Users will also receive a notification from Instagram when an order ships.

“Checkout on Instagram, which will be available within posts and stories with shopping stickers and tags, enables Instagram users in the U.S. to buy, track and manage their purchases directly within Instagram, and allows businesses to sell directly on Instagram without the buyer having to change contexts,” PayPal EVP and COO Bill Ready said in a blog post.

“After discovering a checkout-enabled product, shoppers will see the option to ‘Checkout on Instagram’ when they tap to view additional details,” Ready said.

Instagram checkout

Initially, the checkout feature will be rolled out in a closed beta in the U.S. More than 20 brands will be involved at launch, including Warby Parker, Adidas, Nike, Zara, Kylie Cosmetics, Uniqlo, Burberry, H&M, Mac, Prada, and Michael Kors. More brands will be added in the coming months.

Around 130 million people tap Instagram’s product tags on shopping posts each month, up from just 90 million in September, said Ashley Yuki, the Instagram product executive heading up shopping, in an interview with Recode.

Sellers on the platform will be charged a “selling fee,” but Instagram has declined to share how much of a cut it will take.

“We aren’t sharing the specific number right now,” a spokesperson told TechCrunch. “We are testing a selling fee with businesses during the closed beta. It will not change the price of the items for consumers.”

Uber’s food delivery service, Uber Eats, announced this week that it’s changing how its fees work. In place of a flat $4.99 booking fee for each order, customers will be presented with a variable booking fee based on their distance from a restaurant and the availability of nearby couriers.

The booking fee will be closer to $2 or $3 if the restaurant is very close and closer to $6 or $8 if the restaurant is further away. All cities will have options that are under $5.

“You'll always know how much before selecting a restaurant,” Uber said in a statement.

The new fee structure helps cover delivery costs and keeps couriers on the road so customers’ food can arrive quickly and reliably, the ride-hailing giant said.

Planning to go public

Both Uber and rival Lyft have been rolling out discounts and diversifying their offerings as they prepare to go public in 2019.

“It looks like with the IPO looming that they’re more focused than ever on charging customers what it actually costs to get these items delivered,” Harry Campbell, a former Uber driver who runs The Rideshare Guy blog and podcast, told The Verge.

“We’ve seen a number of changes to the fee structure on Uber Eats over the past year which tells me they’re experimenting and trying to figure out the best way to get profitable on this service.”

Uber plans to begin its IPO in April and hopes for a valuation of as much as $120 billion, Reuters reported.

Competition continues to heat up in entertainment media with Apple’s expected announcement next week that it is launching a video streaming service.

The company has an event scheduled for March 25 at the Steve Jobs Theater in Cupertino, Calif., and it has done nothing to temper expectations. The tagline on the event announcement was “It’s show time” and featured a film-inspired countdown.

While it’s not clear what programming will be available, it is known that Netflix content will be absent. Netflix CEO Reed Hastings has confirmed that Netflix won’t participate in Apple’s venture, saying he prefers that people watch Netflix content on the Netflix platform.

Netflix entered the conversation because it is believed Apple will offer subscriptions to other video content channels through its app. Meanwhile, 9to5Mac reports Apple has signed a number of deals to produce original content, including with Oprah Winfrey, Jennifer Anniston,  Reese Witherspoon, and Steve Carell, as well as with directors J.J. Abrams and Steven Spielberg.

Users reportedly will be able to subscribe to Apple’s content and use the app to watch other content they subscribe to, such as HBO.

A premium price

An analyst at Goldman Sachs told Bloomberg News that he expects the Apple Video subscription to cost about $15 a month. That’s slightly more than both Netflix and Amazon Prime.

While Apple is gathering content for the small screen, MoviePass is launching a limited-time promotion for big screen content. It’s offering an “uncapped” subscription plan for $9.95 a month for a limited time if the subscriber pays for a full 12 months. Those who prefer to pay monthly will pay $14.95, $5 off the regular price.

“We are – and have been – listening to our subscribers every day, and we understand that an uncapped subscription plan at the $9.95 price point is the most appealing option to our subscribers,” said Ted Farnsworth, Chairman and CEO of MoviePass’ parent company, Helios and Matheson Analytics Inc.  

Farnsworth says the company has had to modify its service a number of times in order to “continue delivering a movie-going experience to our subscribers.” The company changed its subscription plan at least twice in 2018.

Is a recession on the way? FedEx, without using the word, suggests that could be the case.

The package delivery company disappointed Wall Street after the bell Tuesday when it reported lower than expected quarterly profits and offered weaker full-year guidance.

Business in the U.S. is just fine. After all, Amazon alone keeps a lot of those FedEx trucks rolling. But FedEx is an international company, and it attributed its weak quarter to a slowdown in the global economy.

The company said it didn’t do as well as expected in Europe, in part due to currency issues and growing competition. But it also said tariffs have resulted in a slowdown in trade, and that means fewer packages and less freight are being shipped.

"Slowing international macroeconomic conditions and weaker global trade growth trends continue," FedEx Chief Financial Officer Alan Graf said in a statement.

Leading indicator

FedEx and other shipping companies are often seen as a leading indicator for the world economy. When business slows for these companies, it usually means economic conditions are worsening.

Even though FedEx shares sold off sharply in after-hours trading, many on Wall Street said they were not surprised at the results.  Donald Broughton, Broughton Capital managing partner, told CNBC that FedEx is facing particularly strong headwinds.

“If you look at what’s happening right now in both Europe and Asia, deceleration, contraction of air freight volumes, it’s no surprise that FedEx, being the biggest deliverer of e-commerce and air freight is struggling to make results,” Broughton said in an interview with the network.

Broughton said he expects FedEx will bounce back, but he also said the larger question is whether the trade turmoil being felt around the world will make that process slow and difficult. In the short run, he said he sees a continued reduction in the amount of air freight that needs to be moved.

The FedEx results will no doubt be part of the collection of data considered by Federal Reserve policymakers when they meet later today in Washington. The Fed has moved in recent months from a posture of aggressively raising interest rates to control inflation to taking a more accommodative stance.

The shift to a more dovish position is taken by many analysts as a sign the Fed is worried that a global economic slowdown could eventually slow the U.S. economy.

A new study conducted by researchers from Tufts University suggests that healthy food prescriptions could be the answer for a number of traditional health concerns. The researchers say that if Medicare/Medicaid were to start doling out these prescriptions, the results would not only be cost effective but also leave patients with countless health benefits.

“We found that encouraging people to eat healthy foods in Medicare and Medicaid -- healthy food prescriptions -- could be as or more cost effective as other common interventions, such as preventative drug treatments for hypertension or high cholesterol,” said researcher Yujin Lee, PhD.

“Healthy food prescriptions are increasingly being considered in private health insurance programs, and the new 2018 Farm Bill includes a $25 million Produce Prescription Program to further evaluate this approach.”

Food as medicine

The researchers modeled two scenarios to measure how consumers’ health and overall cost would be affected by this change. The team used three years’ worth of data from the National Health and Nutrition Examination Survey (NHANES) to determine sample population sizes of those who would be eligible for Medicare, Medicaid, or both.

In the first model, the researchers aimed to see the effects of Medicare and Medicaid picking up the tab for 30 percent of fruit and vegetable purchases via an electronic debit card. The second model also included fruits and vegetables, while also adding seafood, plant-based oils, whole grains, and nuts/seeds.

Perhaps the biggest finding was that, overall, consumers wouldn’t be relying on healthcare as often. The researchers estimated that the first model would reduce healthcare costs by nearly $40 billion, while the second, more broad model would knock down healthcare costs by over $100 billion.

“Our findings support implementation and evaluation of healthy food prescriptions within healthcare systems to improve the diet and health of Americans,” said researcher Renata Micha.

From a health standpoint, the researchers found similar results. Estimating the results of current beneficiaries over the course of their lifetimes, the second model was predicted to prevent 120,000 cases of diabetes and over 3.2 million cases of cardiovascular disease; the first model was estimated to prevent nearly two million cases of cardiovascular disease.

“Medicare and Medicaid are the two largest healthcare programs in the U.S., together covering one in three Americans and accounting for 1 in every 4 dollars in the entire federal budget,” said researcher Dr. Dariush Mozaffarian. “These new findings support the concept of Food is Medicine: that innovative programs to encourage and reimburse healthy eating can and should be integrated into the healthcare system.”

Effects for body, mind, and planet

Recent studies have explored the countless benefits of eating healthy for physical and mental health, as well as for the environment.

Researchers have also charted out how low-income families can eat healthy on a limited budget; however, making sure that consumers have access to proper federal programs is key.

“This research demonstrates that menus that meet USDA guidelines can be purchased by a family of four when shopping at a bulk supermarket, but any reduction in SNAP benefits or increase in food costs would make it difficult for these economically vulnerable families to maintain a healthy lifestyle,” said researcher Dr. Karen M. Jetter.

Hometown Food Company is recalling two specific lot codes, or 12,245 cases, of Pillsbury Unbleached All-Purpose Flour.

The product may be contaminated with Salmonella.

There have been no reports of any illnesses associated with this recall.

The following products, distributed through a limited number of retailers and distributors nationwide, are being recalled:

What to do

Customers who purchased the recalled products should not consume them, but discard or return them to the store where purchased.

Consumers may call ( 800) 767-4466 for replacement coupons for the recalled product.