Panera is next step for JAB Holdings and low-profile family
FRANKFURT, Germany—Its brands are some of the best known in the U.S.: names like Coty, Jimmy Choo, Krispy Kreme, Keurig Green Mountain, and now Panera Bread. But the same can’t be said of Luxembourgbased JAB Holdings Co. and the low-profile, wealthy family behind it.
Delta cancels flights for third day after storm hits Atlanta
ATLANTA—Delta has canceled about 3,000 flights this week in the aftermath of a thunder storm in Atlanta. The cancellations top the number of flights grounded by a major technology breakdown last summer.
Consumer borrowing up solid $15.2 billion in February
WASHINGTON—Consumers stepped up their borrowing in February as a rebound in use of credit cards offset a slowdown in borrowing on autos and student loans. The Federal Reserve says that total borrowing rose $15.2 billion in February. It was the biggest gain in three months and an acceleration from January’s increase of $10.9 billion.
Uber fires back at Google spinoff in self-driving car case
SAN FRANCISCO—Uber is refuting claims that its expansion into self-driving cars hinges on trade secrets stolen from a Google spinoff, arguing that its ride-hailing service has been working on potentially superior technology. The defense presented in documents filed Friday in San Francisco federal court marks Uber’s first detailed response to explosive allegations that its self-driving cars are using a crucial piece of technology designed by Waymo, a company created from Google’s work on autonomous vehicles.
KFC to stop using chickens raised with human antibiotics
NEW YORK—KFC says it plans to stop serving chicken raised with antibiotics important to human medicine. The fried chicken chain says the change will be completed by the end of next year at all its U.S. restaurants.
Drug epidemic: One small-town mayor takes on pill distributors
WELCH, W.Va.—Fed up with the drug epidemic in West Virginia, one smalltown mayor has joined the ranks of communities suing some of the biggest U.S. drug distributors. Mayor Reba Honacker of Welch, West Virginia, wants distributors to pay for the damage done by addiction to her community. Lawyers say similar lawsuits filed by local communities are part of a growing push that could ultimately rival the scope of litigation against big tobacco companies over smoking.
The Standard & Poor’s 500 fell 1.95 points, or 0.1 percent, to 2,355.54.
The Dow Jones industrial average declined 6.85 points, or 0.03 percent, to 20,656.10. The Nasdaq composite dipped 1.14 points, 0.02 percent, to 5,877.71.
U.S. oil added 54 cents, or 1 percent, to $52.24 a barrel in New York. Brent crude, the standard for international oil prices, rose 35 cents to $55.24 a barrel in London. In other energy trading, wholesale gasoline gained 2 cents to $1.75 a gallon. Heating oil rose 2 cent to $1.63 a gallon. Natural gas slid 7 cents, or 2.1 percent, to $3.26 per 1,000 cubic feet.