Democrats on the House Agriculture Committee failed to restore cuts in federal food-stamp spending as the panel approved yesterday a $940 billion bill reauthorizing U.S. Department of Agriculture programs.
U.S. stocks retreated, following five successive records for the Standard & Poor’s 500 Index, as the Federal Reserve Bank of Philadelphia President Charles Plosser said he favors scaling back the central bank’s pace of stimulus.
Dean Foods Co.’s WhiteWave Foods Co. unit may become a takeover target for buyers such as General Mills Inc. after it is spun off from the dairy maker, said Alexia Howard, an analyst at Sanford C. Bernstein & Co.
The Alpina Foods Inc. plant that just opened in Batavia, New York, to feed the nation’s growing appetite for Greek-style yogurt should have nearby dairy farmers such as Matt Lamb scrambling to expand their herds.
U.S. stocks rose, rebounding from earlier losses in benchmark indexes, as a rally in Hewlett- Packard Co. offset Federal Reserve Bank of Dallas President Richard Fisher’s remark that adequate stimulus is in place.