Current Events in June 2019

Shopping for, and purchasing a home is a stressful experience. A recent study from Zillow suggests it’s even more stressful for parents of school-aged children.

That’s because there is a fairly narrow window when you can move kids. By now, school is out, or it soon will be in most of the country. It will start back up after Labor Day -- even earlier in some school districts.

Between now and then, parents have to find and purchase a home that meets certain criteria -- it needs to be the right size, the right distance from work, and in the right school district. With so many parents up against time constraints when it comes to shopping for a home, Zillow found they are prone to making mistakes.

Researchers found parents living with children under 18 are more likely to spend more for a home than they budgeted and make smaller down payments, which increases their mortgage payment.

Longer commutes and smaller houses

Because parents tend to be more selective about school districts, they are more likely to end up with longer commutes and smaller houses than they really need, since homes in better school districts tend to cost more.

As they begin their search during late June and early July, parents go through remarkably similar experiences. They’re more likely than other buyers to see an offer get rejected -- though that’s slightly less common now that inventory levels are rising again.

They’re more likely to have their financing fall through, and they attend more open houses than other buyers. Many parents who buy homes end up making sacrifices to find a home they can afford.

"Having kids is a major destabilizer in life -- their needs are constantly changing and seemingly impossible to anticipate,” said Skylar Olsen, Zillow's director of economic research.

Big decision, short deadline

Olsen says the overriding challenge facing parents in the homebuying process is dealing with a mountain of uncertainty while making a huge financial decision -- and doing it under a fairly inflexible deadline.

The red hot housing market of the last few years has made the job even tougher, but now that the market has cooled a bit, Olsen says it may work to parents’ advantage.

"With interest rates back down, they'll be more able to lock in an affordable monthly payment that will last through college,” she said. “The trick is finding the home that still fills the family's needs as toddlers turn into kids, kids into teenagers, and teenagers into the young adults in your basement.”

The story actually has a hopeful ending. The Zillow researchers asked parents who had recently gone through the homebuying experience how they feel now. An overwhelming majority -- 94.6 percent -- said they love the house they purchased, slightly higher than their peers without children.

Consumers continued to enjoy falling gasoline prices this week, but an early morning explosion at an oil refinery near Philadelphia could reverse that trend.

A video posted to social media shows a massive explosion at the Philadelphia Energy Solutions Refining Complex in south Philadelphia shortly before dawn on Friday. The refinery is reportedly the largest on the East Coast, processing more than 300,000 barrels of crude oil a day.

The fire is likely to reduce the amount of gasoline that normally supplies the northeast region, sending gas prices higher. If so, it would reverse the trend of declining fuel.

The AAA Fuel Gauge Survey shows the national average price of regular gasoline is $2.66 a gallon, down six cents from a week ago. The price is still 21 cents a gallon cheaper than at this time last year. The average price of premium gas is $3.25 a gallon, also five cents lower than last Friday. The price of diesel fuel is $3 a gallon, three cents lower than seven days ago.

Middle East tensions

In addition to the Philadelphia refinery fire, tensions in the Middle East could also send prices at the pump higher in the days ahead. Patrick DeHaan, head of petroleum analysis at GasBuddy, says Iran’s downing of a U.S. drone over the Persian Gulf this week could change things.

“The decline in gas prices may pause or slow in some places starting in the next few days, depending on any US response to Iran,” DeHaan said in a tweet.

Meanwhile, consumers are pumping more gasoline. The Energy Information Administration (EIA) reports demand hit a record last week -- 9.93 million barrels a day. AAA says that kind of demand normally pushes gas prices higher. But lower-than-normal oil prices over the last month have made it cheaper to produce fuel.

There’s a $1.52 swing between the highest average gasoline price this week and the lowest. California’s average price is the highest at $3.77 a gallon, though it’s dropped eight cents in the last week. Mississippi and South Carolina are tied for the lowest average price -- $2.25 a gallon.

The states with the most expensive regular gas

These states currently have the highest prices for regular gas, according to the AAA Fuel Gauge Survey:

• California ($3.77)

• Hawaii ($3.65)

• Washington ($3.38)

• Nevada ($3.38)

• Alaska ($3.34)

• Oregon ($3.25)

• Idaho ($3.07)

• Utah ($3.07)

• Arizona ($2.95)

• New York ($2.85)

The states with the cheapest regular gas

The survey found these states currently have the lowest prices for regular gas:

• Mississippi ($2.25)

• South Carolina ($2.25)

• Louisiana ($2.27)

• Alabama ($2.27)

• Arkansas ($2.33)

• Oklahoma ($2.34)

• Tennessee ($2.35)

• Texas ($2.36)

• Missouri ($2.40)

• Virginia ($2.41)

Walmart has reached a settlement with the Securities and Exchange Commission (SEC) which completes an investigation of the retailer’s international operations.

The company will pay fines totaling $282 million to settle charges that it violated provisions of the Foreign Corrupt Practices Act (FCPA), which governs how U.S. corporations deal with foreign governments.

The settlement, announced by both parties, ends a seven-year investigation that began when Walmart alerted U.S. regulators that it might have violated the law.

The settlement relates to Walmart’s anti-corruption internal controls in Brazil, Mexico, India, and China prior to April 2011. Walmart says it conducted a thorough internal investigation and cooperated with the Department of Justice (DOJ) and the SEC.

“We’re pleased to resolve this matter,” said Walmart President and CEO Doug McMillon. “Walmart is committed to doing business the right way, and that means acting ethically everywhere we operate.”

McMillon said the company has enhanced its policies, procedures, and systems and invested significant resources into ethics and compliance.

“We want to be the most trusted retailer, and a key to this is maintaining our culture of integrity,” McMillon said.

Failures in oversight

The SEC said Walmart suffered failures in oversight of its foreign operations and did not sufficiently investigate anti-corruption risks. The agency said the retailer allowed subsidiaries in Brazil, China, India, and Mexico to employ third-party intermediaries who made payments to foreign government officials without reasonable assurances that they complied with the FCPA.

“Walmart valued international growth and cost-cutting over compliance,” said Charles Cain, chief of the SEC Enforcement Division’s FCPA Unit. “The company could have avoided many of these problems, but instead Walmart repeatedly failed to take red flags seriously and delayed the implementation of appropriate internal accounting controls.”

While settling with the SEC, Walmart also entered into a non-prosecution agreement with DOJ. That agency has agreed not to prosecute Walmart if the company meets its obligations under the agreement for the next three years.

UNFI is recalling Woodstock frozen Organic Grilled Red Peppers that may be contaminated with Listeria monocytogenes.

No illnesses have been reported to date.

The product, which comes in a 10-oz. plastic package marked with UPC code 4256301714, lot #60B, and an expiration date of April 2020 stamped on the back, was sold in retail stores nationally.

What to do

Customers who purchased the recalled product should dispose of the product and contact ResponseTeam@bluemarblebrands.com for more information

Nature’s Touch Frozen Foods (West) is recalling Signature Select Avocado Chunks.

The product may be contaminated with Listeria monocytogenes.

There are no reported illnesses to date.

The following item is being recalled:

• Brand: Signature Select
• Product: Avocado Chunks (Frozen)
• Size: 12 oz.
• UPC: 2113009412 (UPC found on the back of the panel.)
• Codes: Best Before OCT 11 20

The recalled product was sold in Alaska, Arizona, California, Colorado, Hawaii, Idaho, Nebraska, Nevada, New Mexico, Oregon, South Dakota, Washington, Wyoming, Texas and Utah at the following stores:

• Albertsons
• Safeway
• Safeway Community Markets
• Carrs-Safeway
• Eagle
• Lucky
• Pak N Save
• Pavilions
• Vons

What to do

Customers who purchased the recalled product should discard or return it to the place of purchase for a full refund.

Consumers with questions may contact the company at (877) 850-2664 Monday through Friday from 9:00 am to 5:00 pm (EST) or by email at: info@naturestouch.ca.

Young people struggling with type 2 diabetes could get a new source of relief following the Food and Drug Administration’s (FDA) approval of a new drug called Victoza.

Administered via injection, the drug works to regulate blood sugar levels in the body, and it is now under Priority Review by the FDA, meaning the next six months will be spent performing a detailed review of the medication before a final approval is made and the drug is available for use.

“The FDA encourages drugs to be made available to the widest number of patients possible when there is evidence of safety and efficacy,” said Dr. Lisa Yanoff. “Victoza has now been shown to improve blood sugar control in pediatric patients with type 2 diabetes. The expanded indication provides an additional treatment option at a time when an increasing number of children are being diagnosed with this disease.”

Early success rate

While Victoza has been a viable course of treatment for adult type 2 diabetes patients, it is new for pediatric patients, and researchers were pleased to see positive outcomes in early clinical trials.

In the most recent test, researchers had over 130 children over the age of 10 administer either Victoza or a placebo injection for 26 weeks. They found that Victoza won out rather significantly.

While under 40 percent of the placebo group saw an improvement in their hemoglobin A1c levels, nearly 65 percent of the children taking Victoza saw the same results, indicating that the drug was effective in helping patients keep their diabetes under control.

Victoza is designed to regulate the body’s production of insulin. While it is not insulin itself, it aids in insulin production when needed, paces the digestion process, and ensures that the body doesn’t produce too much glucose, all imperative for those suffering with type 2 diabetes.

With more and more young people receiving type 2 diabetes diagnoses, despite it being a disease that primarily targets older patients, the addition of this treatment option could be a game changer.

To read the full report from the FDA, click here.

Electric scooters and bicycles are about to be part of the New York state landscape.

It took some give-and-take, but tech leaders, delivery workers, and Manhattan residents should all feel good about the deal. The e-scooter and e-bike companies gain some valuable territory, but they have to stay out of Manhattan -- at least for the time being.

“Our state leaders appear ready to enshrine e-bikes and e-scooters into state law and answer the call to bring more transportation alternatives to New Yorkers,” Paul Steely White, the director of safety policy at scooter company Bird, told the New York Times.

The legislation seems like a slam dunk. The only thing missing is Gov. Andrew Cuomo’s signature. Despite some safety concerns, Cuomo has said that he supports the bill. The bill’s sponsor, Jessica Ramos, said that the bill should assuage the governor’s concerns because it bans scooters from sidewalks. It also gives local governments the power to decide exactly where the devices would be allowed.

“We are leaving the nitty-gritty, the pieces of this that can be very hyper-local and sensitive, we’re leaving that to cities and towns,” Ms. Ramos said.

Delivery workers raise a glass

Delivery workers, in particular, are heaving a sigh of relief. Since the e-scooter rage began, and without any laws in place to regulate them, delivery workers claimed they were frequently hassled by the police, going as far as having their bikes confiscated and being slapped with expensive fines.

New York City Mayor Bill de Blasio hasn’t exactly been in the workers’ corner, calling them out for “reckless behavior” on electric bikes and saying that restaurants should find a different way to deliver food.

Nonetheless, de Blasio appears to be okay with the new rules. His office told the Times that he welcomes the regulations, but he has warned scooter rental companies that they will have to get special permission from the City if they want to do business in any borough outside Manhattan.

Consumers raise a couple of questions

In comments on the bill, consumers raised questions on several points. For one, they questioned restrictions on e-bike riders and passengers younger than 16.

“This criminalizes parents ferrying their kids around on e-assist cargo bikes and bakfiets (a freight bicycle used by delivery companies),” wrote one person.

Another commenter felt like the new rules leave electric skateboards in a legal gray area because they weigh less than 100lbs. The products also do not have handlebars and have four wheels, not two like the bill stipulates.

“Please include these devices, much the same way Michigan recently has. This is a growing market that deserves the same recognition as the large scooter startups,” they said.

Another consumer voiced concerns over the 750 (electric/power) watt limit, speculating that “750W might be adequate for a light 130lb person going up a steep hill, but for someone +260lbs they will be underpowered.”

Despite President Trumps unprecedented pressure on the Federal Reserve to cut interest rates, the Fed’s Open Market Committee (FMOC) decided Wednesday to leave rates right where they are.

In its policy statement, the Fed removed the word “patient,” which market analysts interpreted as a signal that at least one rate cut -- perhaps two -- could come at future meetings this year.

“The FMOC said it believes its goal of promoting maximum employment and price stability is best served by maintaining the target range for the federal funds rate at 2-1/4 to 2-1/2 percent,” the Fed said in its policy statement. “The Committee continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective as the most likely outcomes, but uncertainties about this outlook have increased.”

The Fed appeared to suggest that its concern about the lack of inflation in the economy could be the main reason it would consider cutting the federal funds rate in the months ahead. A rate cut might have a stimulative effect and move inflation closer to the Fed’s target of 2 percent.

Consensus toward rate cuts

Economist Joel Naroff, of Naroff Economic Advisors, says one of the things that caught his attention was the large number of FOMC members -- seven -- who forecast two rate cuts before the end of the year.

“That is very aggressive and signals real concern about inflation and possibly growth,” Naroff told ConsumerAffairs. “The evaluation of the economy was relatively the same, with consumption a little better but investment a little worse.  As for inflation, the slowdown in the market measures of inflation was the key difference. That has to be the only thing that the members are worried about in order to support the desire to cut.”

Naroff said it’s a little discouraging that the FOMC gave little reason to support the idea of aggressive rate-cutting. He notes that the FOMC members appear to think economic growth will continue well into 2020.

“The idea that two cuts could solve a perceived inflation issue is beyond me,” Naroff said. “Will the economy boom because of rates being down 50 basis points?  I don’t know what model would have that happening.”

Important for consumers

The federal funds rate is a key factor in banks’ prime rate, which in turn sets the rates for auto loans and home equity loans. Credit card interest rates are also tied to the federal funds rate, so that when it rises or falls credit card rates usually follow.

Holden Lewis, NerdWallet’s home expert, says the decision to leave the rate unchanged means consumers with home equity lines of credit (HELOC) will see their payments remain the same for the time being.

“If the Fed moves to cut short-term rates at the end of July as expected, consumers with HELOCs will benefit from smaller monthly payments, which could give many consumers an opportunity to pay down other variable rate debt, like credit cards,” Lewis told ConsumerAffairs.

President Trump had publicly lobbied for a rate cut, something highly unusual for a president to do. Trump had raised the possibility that he might try to “demote” Fed Chair Jerome Powell.

When asked Tuesday whether he still planned to do that, Trump replied “Let’s wait and see what he does,” implying demotion could be on the table unless the Fed cut rates. At his news conference Wednesday, Powell said he intends to serve his four-year term as chairman.

Across the U.S., surprise medical bills are relatively common following an emergency room visit or hospital stay.

A recent analysis of claims data from larger employer plans conducted by the Kaiser Family Foundation found that 18 percent of all emergency visits and 16 percent of in-network hospital stays led to at least one out-of-network bill in 2017.

The likelihood of receiving an unexpected bill varied by state. In Texas, 27 percent of emergency room visits and 38 percent of in-network hospital stays generated at least one surprise charge. The odds were much lower in Minnesota, at 2 and 3 percent, respectively.

Out-of-network charges were also found to be prevalent in New York, Florida, New Jersey, and Kansas. Patients in South Dakota, Nebraska, Maine, and Mississippi were less likely to be hit with a surprise bill, according to the survey.

“Most of the potential surprise out-of-network emergency charges observed in this study were from doctors and other out-of-network professionals, rather than from the hospital or emergency facility,” the report noted.

The study authors suggested that the state-by-state differences were linked to the reach of hospital and doctor networks in each state, as well as the way each state’s network is designed.

Ending surprise billing

The rate of surprise billings in the U.S. points to the need for federal legislation aimed at addressing the issue, said researcher Karen Pollitz of the Kaiser Foundation.

Last month, President Trump -- who has described surprise medical charges as "one of the biggest concerns Americans have about health care" today -- sought to put an end to the practice by calling for a prohibition on balance billing for all emergency care and for services from out-of-network providers that patients didn’t choose themselves.

"For too long, surprise billings, which has been a tremendous problem in this country, has left some patients with thousands of dollars of unexpected and unjustified charges for services they did not know anything about and sometimes services they didn't have any information on," the president said at a White House event, according to CBS News.

Lawmakers in both parties are working to introduce measures that would protect patients in the event that they are unknowingly treated by out-of-network providers. A Senate panel is scheduled to vote next week on legislation that would limit what patients can be charged for their in-network deductibles and copays.

California is currently moving to enact a new state legislation (Assembly Bill 5) that would codify and expand a 2018 State Supreme Court ruling, which states that a worker is considered an employee unless they qualify for an exception.

The proposed legislation would alter the employment classification of rideshare drivers, who don’t qualify for an exception. Under the law, companies would be required to designate most independent contractors as employees and provide them with benefits like unemployment, health insurance, and workers compensation.

Uber and Lyft, who would each be impacted by the bill in a big way, sent emails to drivers over the weekend with the goal of getting them fired up about the effect the bill would have on their flexibility and ability to set their own schedules.

“It’s also no secret that a change to the employment classification of ride-share drivers would pose a risk to our businesses. But it’s equally true that the status quo can and should be improved,” Uber CEO Dara Khosrowshahi and Lyft co-founders Logan Green and John Zimmer wrote in an op-ed for the San Francisco Chronicle. “Tell lawmakers to protect driver flexibility.”

In exchange for leaving drivers’ classification status the way it is, the ride-sharing companies vowed to set a minimum pay rate for drivers while they are picking up and dropping off passengers, create a fund for perks like paid time off, and create an association for drivers to advocate for additional improvements.

Drivers support the legislation

On Tuesday, Uber and Lyft drivers -- many of whom have been pushing to be classified as employees for some time --  held a rally outside of Uber’s headquarters in San Francisco to support the new state legislation.

Uber and Lyft driver Rashed Alsanea refuted the claim that driver flexibility is on the line.

“The flexibility, I don’t know what they’re talking about,” Alsanea told a CBS affiliate in San Francisco. “For us, still we have to work in certain times to make money. Otherwise, you’re not gonna make money.”

He said he’s forced to work 16 hours a day because the pay is so low, and the new legislation would see to it that at least drivers have basic protections.

“We’re here for ourselves, our rights, that’s been taken from us by Uber and Lyft. We’re asking for a living wage and we’re asking for benefits,” longtime Uber and Lyft driver Omar A. said at Tuesday’s rally, according to CBS SF Bay Area. “They are trying to force the drivers to sign a petition against AB 5. Actually AB 5 is supporting the drivers and protecting the drivers. That’s what we’re fighting for.”

Previous studies have shown how powerful spending time outside can be for improving mental health, and now researchers have discovered teachers can benefit from some fresh air.

According to a new study conducted by researchers from Swansea University, incorporating outdoor lessons for just one or two hours per week can make teachers happier and more satisfied with their jobs.

“Initially, some teachers had reservations about transferring the classroom outdoors but once outdoor learning was embedded within the curriculum, they spoke of improved job satisfaction and personal wellbeing,” said researcher Emily Marchant, PhD. “This is a really important finding given the current concerns around teacher retention rates.”

Getting a breath of fresh air

The researchers evaluated both teachers and students at three schools in south Wales that had recently implemented a new curriculum that required lessons to be taught outside for one hour each week.

Teachers were interviewed, while children between the ages of nine and 11 were put into focus groups to assess their attitudes and feelings towards the outdoor learning. Responses were recorded both before the new curriculum began and after it was put in place.

Overall, spending just one hour per week outside was beneficial for both students and teachers, even if the teachers were a little apprehensive at the start. Educators reported their students producing better learning outcomes, and improved memory skills of the lessons they had outside, while they also appreciated the time outside of the classroom.

“We found that the pupils felt a sense of freedom when outside the restricting walls of the classroom,” said Marchant. “They felt more able to express themselves, and enjoyed being able to move about more too. They also said they felt more engaged and were more positive about the learning experiences.”

While some teachers felt that being outside was an even greater distraction to some students than being in the classroom, and they felt more pressure to meet curriculum goals than usual, they viewed the outdoor lessons as a positive opportunity for students to experience a change of scenery and engage in the material in a new way.

“Overall, our findings highlight the potential of outdoor learning as a curriculum tool in improving school engagement and the health, well-being, and education outcomes of children,” said Marchant.

Job stressors and pressures

With a record number of teachers leaving their jobs in recent years, researchers have begun to explore why so many of these professionals are feeling dissatisfied with their career choice.

While job-related stress is a big factor, a recent study found that many teachers are feeling overworked and undervalued. Researchers say that many educators also lack a suitable work/life balance, and this has led many to leave their jobs after 10 years.

“The general response from government is that teaching will be improved by reducing workload, removing unnecessary tasks and increasing pay,” the authors wrote. “This may help, and our study does continue the discourse that workload is key. However, it also indicates that part of the problem lies within the culture of teaching, the constant scrutiny, the need to perform, and hyper-critical management. Reducing workload will not address these cultural issues.”

The Federal Trade Commission (FTC) is investigating YouTube "for its handling of children's videos,” the Washington Post reported.  

Complaints dating back several years accuse the company of not doing enough to protect children who use the platform. Additionally, YouTube is facing allegations that it “improperly collected” data on youth users.

“The FTC has been investigating YouTube about its treatment of kids based on multiple complaints it received dating back to 2015, arguing that both YouTube and YouTube Kids violate federal laws,” the publication reported, citing sources familiar with the matter.

“The exact nature and status of the inquiry is not known, but one of the sources said that it is in advanced stages — suggesting a settlement, and a fine depending on what the FTC determines, could be forthcoming.”

Protecting young users

Earlier this month, YouTube updated its policy to include new rules that prohibit videos that contain white supremacy concepts and conspiracy theories. The move was part of a broader effort being made by the company to crack down on extremist views and hate speech.

The FTC investigation, which is said to be in a late stage, has reportedly prompted further discussion among YouTube executives about how to protect kids who use the service.

“As the investigation has progressed, YouTube executives in recent months have accelerated internal discussions about broad changes to how the platform handles children's videos,” the Post said. “That includes potential changes to its algorithm for recommending and queuing up videos for users, including children.”

Just recently, YouTube disabled comments on videos that feature children and banned children from being featured in live-streamed videos unless an adult is also present.

Sen. Edward Markey (D-MA) called the FTC investigation “long overdue.”

“It is no secret that kids flock to YouTube every day, but the company has yet to take the necessary steps to protect its youngest users. I am pleased to see reports that the FTC is working to hold YouTube accountable for its actions,” Markey said in a statement.

Congress continues to look at how prescription drugs are priced, with an eye toward curtailing spiraling costs to consumers. And with an election year looming, it appears to be the one issue that both Republicans, Democrats, and the president might agree on.

The Senate Special Committee on Aging held the third in a series of hearings on the topic Wednesday, exploring how drugs become generic and how they are discounted by a series of rebates to patients with health insurance coverage.

Committee Chairwoman Sen. Susan Collins (R-Me.) said she believes it is important for Congress to keep strong incentives in place so pharmaceutical companies will continue to take risks and innovate.

“But we must do more to ensure that essential medicines are more affordable, that their prices are transparent, and that their competitors are not blocked, once their patents have expired, by gaming of the patent system,” Collins said. “One thing is certain, our drug pricing system is opaque and rife with misaligned incentives.”

Scrutinizing rebate arrangements

Vicki Robinson, senior counselor for Policy Office of Inspector General Department of Health and Human Services (HHS), testified that her agency is formulating a proposed rule that could alter existing rebate arrangements that she says have proven to be “ineffective at, and counterproductive to,” lowering the cost of prescription medication.

“Rebates may be harming federal healthcare programs by increasing list prices, preventing competition to lower drug prices, discouraging the use of lower-cost brand or generic drugs, and skewing formularies,” she said.

The prescription drug distribution chain is complicated and involves a number of players. These participants’ agreements will determine how much a patient’s health insurance pays for prescription drugs and what the patient pays out of pocket.

Drug companies routinely mark up the list price of a drug to compensate for the series of discounts. But patients without health insurance usually pay the full price.

Industry response

The Pharmaceutical Care Management Association (PCMA), which represents pharmacy benefit managers (PBM), applauded the committee for its hearings on drug prices and said it agrees that policy changes are necessary to lower prescription drug costs.

"The most effective way to lower prescription drug costs is through increased competition in the marketplace,” said PCMA President J.C. Scott. “PCMA supports a number of legislative and regulatory policies to increase competition and build on market-based tools in public programs and private health insurance. When real competition exists in the marketplace PBMs can most effectively negotiate with drug manufacturers to reduce drug costs.”

But the group expressed concern that the Trump administration’s proposed rebate rule will “significantly increase taxpayer costs and beneficiary premiums.”

Dr. Janet Woodcock, Director of the Center for Drug Evaluation and Research for the Food and Drug Administration (FDA), told the committee that the agency is working to increase the number of generic drugs on the market as a way to lower prices.

She said the agency wants to curb list price increases, reduce financial burden on beneficiaries, improve transparency, and reduce the risks associated with rebates inappropriately influencing formulary placement or inducing business payable by Medicare Part D or Medicaid.

When it comes to the housing market, conditions that favor a buyer don’t always favor a seller. Right now, most consumers seem to think it’s a good time to be a seller.

A new survey by the National Association of Realtors (NAR) shows a big rise in optimism in the current quarter among home-sellers. Forty-six percent of homeowners said now is a good time to put a house on the market, up from 37 percent in the first quarter.

There could be several reasons for that sentiment. For one, home inventories remain constrained, giving buyers fewer choices and creating competition for those houses that are for sale. NAR Chief Economist Lawrence Yun says the rise in home prices has slowed in recent months, providing another incentive to sell now.

"With home price appreciation slowing, home sellers understand that the days of large price gains from holding an extra year are over," Yun said.

Not such a good time to buy

Fewer consumers believe now is a particularly good time to buy a home, but 38 percent strongly believe it is. Nearly as many believe now isn’t a good time to make a move, about the same as in the first quarter.

Consumers in the survey are more optimistic about the economy than many economists. Fifty-five percent of those polled said that the economy is improving, a slight increase from the first quarter. However, many economists have recently suggested that the economy could slow from effects of escalating trade tensions.

Broken down demographically, over half of Gen Xers said they believe the economy is improving, which is also up from 50 percent in the last quarter. Yun said Gen Xers are at a time in their lives when they may be feeling more financial pressures.

"Many in the Generation X population find themselves needing to purchase multi-generational homes,” Yun said. “Also, they may be feeling financial stress from caring for aging parents and children of all ages. Nonetheless, they have an optimistic outlook about the future."

Changing home values

Some of that optimism may be tied to the recent sustained increase in home values. Sixty-three percent of those in the survey believe home prices have risen in their communities in the last 12 months, which increases the net worth of homeowners.

The outlook is considerably different among consumers who do not currently own a home. Twenty-seven percent think it would be “very difficult” to qualify for a mortgage because of their financial situation, with another 30 percent saying it would be “somewhat difficult” to qualify.

Yun predicts mortgage affordability will improve in the months ahead because of falling mortgage interest rates and rising wages.

Sprouts Farmers Market of Phoenix, Ariz., is recalling Frozen Cut Leaf Spinach conventional and organic.

The products may be contaminated with Listeria monocytogenes.

No illnesses have been reported to date.

The following products are being recalled:

• Sprouts Frozen Cut Leaf Spinach, 16oz. bag, UPC 87487500982, Lot 19031203A03, USE BY 12/03/21. Identifying information is on the back of the package.
• Sprouts Frozen Organic Cut Leaf Spinach, 16oz. bag, UPC 87487500991, Lot 19031203A03, USE BY 12/03/21. Identifying information is on the back of the package

The recalled products were sold by retail stores in Arizona, California, Nevada, Utah, New Mexico, Texas, Kansas, Oklahoma, Missouri, Tennessee, Alabama, Georgia, Florida, South Carolina, North Carolina, Pennsylvania, Maryland and Virginia.

What to do

Customers who purchased the recalled products should discard or return them to the store where purchased for a full refund.

Consumers with questions may contact the company at (888) 577-7688 from 8am to 5pm (PST).

Wall Street loved the idea of Facebook’s new digital currency, Libra, as the stock price soared in anticipation of Tuesday’s announcement. The reaction in Washington was quite different.

Facebook, along with other tech giants, is already under governmental scrutiny over privacy and antitrust concerns. The announcement that Facebook users can trade their dollars and other currencies for Libra and purchase things on Facebook promises to make the company even bigger and more powerful.

Rep. Maxine Waters (D-Calif.), who chairs the powerful House Financial Services Committee, called on Facebook to place a “moratorium” on the launch until Congress and other regulators can explore its potential impact.

“With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users,” Waters said in a statement. “The cryptocurrency market currently lacks a clear regulatory framework to provide strong protections for investors, consumers, and the economy. Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies.”

‘Too big and powerful’

Across the Capitol, Sen. Sherrod Brown (D-Ohio), the ranking member of the Senate Committee on Banking, Housing, and Urban Affairs, had a similar reaction. He said the new cryptocurrency would give Facebook competitive advantages with regard to collecting data about financial transactions, as well as control over fees and functionality.

“Facebook is already too big and too powerful, and it has used that power to exploit users’ data without protecting their privacy,” Brown said. “We cannot allow Facebook to run a risky new cryptocurrency out of a Swiss bank account without oversight.”

In Europe, regulators are also alarmed. Bloomberg reports France’s finance minister said the idea of a Facebook coin was “out of the question.” Markus Ferber, a German member of the European Parliament, said a digital coin might allow Facebook to become a “shadow bank” and amass even more power than it now has.

“Multinational corporations with giant user bases such as Facebook must not be allowed to operate in a regulatory nirvana when introducing virtual currencies,” Ferber said.

Ready to answer concerns

Facebook, for its part, doesn’t seem all that concerned about the instant governmental opposition to its plans. A spokesman for the platform tells CNBC that it looks forward to responding to policymakers’ concerns as the process moves forward.

Facebook has suggested that its coin will be most used outside of the U.S. and Europe, in developing nations where local currencies are often unstable. An estimated 85 percent of Facebook users live outside the U.S.

The old saying “two’s company but three’s a crowd” apparently does not apply to mergers. Dish Network has reportedly emerged as a major player in Sprint and T-Mobile’s bid to become one company.

Bloomberg News quotes people close to the situation as saying Dish is negotiating the purchase of spectrum and Boost Mobile from the two companies that are trying to gain approval of their proposed merger from the Department of Justice (DOJ).

The Antitrust Division at DOJ has reportedly been cool to the idea of Sprint and T-Mobile joining forces because it would reduce the number of major carriers from four to three. Previously, some DOJ officials have reportedly suggested the government go to court to block the merger.

Spinning off assets -- especially those that overlap -- is a common practice among merger partners in the same industry to assure the government that it won’t have monopolistic power.

Approval may be close

According to Bloomberg, DOJ is getting close to flashing a green light for the two wireless providers, with an approval coming as early as this week. The Federal Communications Commission (FCC) has already signed off on the deal, saying the engineering specs appear to be in order.

When Sprint and T-Mobile announced their plan to merge they said they required the synergy of their two companies to build out a 5G network that could compete with Verizon and AT&T. But according to Bloomberg, DOJ approval could hinge on the two proposed partners selling off enough assets that another company could buy them and launch a new wireless service.

Analysts say Dish is a logical player to take up that role because it already has significant spectrum that has gone unused. Taking assets from T-Mobile and Sprint, the reasoning goes, could turn Dish into a major wireless player.

Congressional opposition

While the DOJ may be softening its position toward the proposed merger there is still opposition among elected officials, who fear T-Mobile and Sprint -- both favored by lower income consumers -- would raise their prices if they become one company. Earlier this month, nine states and the District of Columbia filed a suit in U.S. District Court to block the merger.

“I have repeatedly raised serious antitrust concerns about the harmful effects of merging T-Mobile and Sprint, two of the four remaining nationwide wireless carriers,” said Sen. Amy Klobuchar (D-Minn.). “This merger would harm competition and consumers, and I am pleased that action is being taken by state attorneys general to block it. Now, the Justice Department must take similar action to stop this transaction.”

Klobuchar and other lawmakers opposed to the merger say T-Mobile and Sprint are favored by low-income consumers because both offer no contract plans, prepaid and no credit check plans, and unlimited, text, voice, and data plans.

Apple announced Wednesday that it has partnered with Best Buy to expand its repair coverage beyond its own stores.Consumers can now have their Apple devices repaired at almost 1,000 Best Buy locations.

The tech giant says 7,600 “newly Apple-certified technicians” (trained Geek Squad employees) now offer same-day repairs at many Best Buy locations.

“At Apple, we’re dedicated to providing the best customer service in the world,” Apple Care VP Tara Bunch said in a press release. “If a customer ever needs to repair their products, we want them to feel confident those repairs are done safely and correctly.”

Tripling repair center locations

Combined with Apple’s existing authorized third-party service locations, the latest partnership brings the number of U.S. locations that offer repairs on iPhones and other devices to 1,800. Apple said that figure is three times higher than it was just three years ago.

“We’re always looking at how we can reliably expand our network of trained technicians and we’re excited to partner with every Best Buy store so it’s even easier for our customers to find an authorized repair location near them,” Bunch said.

Apple says its partnership with Best Buy will put Apple-certified technicians in closer range of consumers in locations such as Yuma, Arizona; Sioux City, Iowa; Twin Falls, Idaho; Casper, Wyoming; and Bismarck, North Dakota, where its retail stores aren’t as conveniently located.

Eight out of ten Apple customers will now be within 20 minutes of an authorized service provider, Apple said.

City supervisors in San Francisco are set to make the city the first in the country to prohibit all sales of e-cigarettes. The move comes as federal regulators continue to formulate ways to combat the alarming surge in teen vaping rates.

In addition to banning e-cigarette distribution and sales, city supervisors are expected to vote to impose a ban on manufacturing e-cigarettes on city property. The measures, which will receive a final vote next week, are each intended to prevent e-cigarettes from taking the place of traditional cigarettes.

Though vaping is considered to be less harmful than smoking cigarettes, researchers say the health risks of e-cigarettes may be more extensive than consumers may have been led to believe.

“This is about thinking about the next generation of users and thinking about protecting the overall health and sending a message to the rest of the state and the country: Follow our lead,” Supervisor Ahsha Safaí said in a statement to the media.

Addressing the rise in teen vaping

While vaping may be a useful tool in helping some smokers quit, former FDA Commissioner Scott Gottlieb has said that the agency “will not allow that opportunity to come at the expense of addicting a whole new generation of kids to nicotine.”

Just recently, the FDA reprimanded four vaping companies for failing to ensure that content posted by social media influencers contained the statement, “WARNING: This product contains nicotine. Nicotine is an addictive chemical.”

“Given the significant risk of addiction, the failure to disclose the presence of and risks associated with nicotine raises concerns that the social media postings could be unfair or likely to mislead consumers,” federal regulators said in letters sent to the four companies.

Juul, the leader in the e-cigarette industry, wasn’t among the companies that received a letter. However, the manufacturer was accused of reneging on its promise to serve only as an “off-ramp” for smokers to quit when it accepted a $12.8 billion investment from tobacco giant Altria.

The upcoming vote in San Francisco could have a big impact on Juul, which is headquartered in the city. Juul is currently backing a signature-collecting initiative for a November vote to overrule the measure.

Banning vaping products for all adults in San Francisco “will not effectively address underage use and will leave cigarettes on shelves as the only choice for adult smokers, even though they kill 40,000 Californians every year,” a spokesman for Juul told the Associated Press.

If imposed as expected, the ban would go into effect in around seven months.