In Hawaii, Spam isn’t just a canned meat — it’s an important part of history. Hormel Food’s Spam was introduced to consumers in 1937. Yet for fiscal 2019, Hormel reported that Spam had its fifth consecutive year of record sales. Why is this canned meat continuing to grow? Watch the video above to find out what’s driving Spam sales.

Ford F-150 trucks go through the customer acceptance line at the Ford Dearborn Truck Plant on September 27, 2018 in Dearborn, Michigan. Ford Motor Co. is adding 3,000 jobs at two factories in the Detroit area and investing $1.45 billion to build new pickup trucks, SUVs, and electric and autonomous vehicles. Another $700 million will be invested in the truck plant in Dearborn, Michigan, where 300 new jobs will be added. The Wayne plant investment will be used to build the new Ford Bronco SUV, as

The Food and Drug Administration on Tuesday authorized two new low-nicotine cigarettes for sale to the public. The agency cleared applications from 22nd Century Group for its Moonlight and Moonlight Menthol cigarettes. Shares of 22nd Century surged more than 30% to $1.08 a share on Tuesday. Correction: 22nd Century’s low-nicotine cigarettes are the first to get cleared through a new regulatory process put in place by the FDA in 2009. Other low-nicotine cigarettes that were available on the U.S.

President Donald Trump looks on during a discussion after delivering his speech during the World Economic Forum (WEF) annual meeting on January 26, 2018 in Davos, eastern Switzerland. /After skipping a gathering of the world’s most elite in Davos, Switzerland last January, President Donald Trump will attend the World Economic Forum in 2020, Bloomberg reported Tuesday. President Trump blamed his no-show last time on the partial government shutdown that was triggered by a funding dispute for a wal

Former Federal Reserve Chairman Alan Greenspan warned Tuesday that inflation is going to pose a larger threat to the U.S. economy as budget deficits continue to rise. But if we go further than we are currently, inflation is inevitably going to rise,” the 93-year-old ex-central bank chief said on CNBC’s “Squawk on the Street.” That has come even though the 3.5% unemployment rate is the lowest it’s been in 50 years. Fed economists closely watch what is known as the Phillips curve, which traditiona

U.S. Supreme Court Associate Justice Brett Kavanaugh attends his ceremonial swearing in in the East Room of the White House October 08, 2018 in Washington, DC. “Kavanaugh’s personal reputational interest in seeing that bitter dissent against a bipartisan majority be vindicated by the Supreme Court is considerable.” But he said the issue pointed to a “broader problem” about the lack of a Supreme Court code of ethics. The Democratic-controlled House of Representatives passed legislation earlier th

At Tuesday’s hearing, prosecutors revealed that Parnas’ previously non-disclosed assets included a $1 million transfer from a lawyer for Ukraine oligarch Dmytro Firtash, who faces criminal charges in the United States, a month before Parnas was arrested. “We believe he was trying to setup a way to flee,” said assistant U.S. attorney Rachel Donaleski of Parnas. But Joseph Bondy, Parnas’ lawyer, said that Parnas had won a visa lottery to the United States to immigrate to the United States from the

CNBC’s Jim Cramer said Tuesday that Sen. Elizabeth Warren missed her chance to court ultra-wealthy voters who may have naturally supported her 2020 presidential run. “She’s scared people, and that’s why I think people are flocking to other candidates,” Cramer said, referring to Warren’s bank-bashing and wealth-taxing proposals. The fall in the polls coincided with Warren’s heightened attacks on billionaires, Cramer pointed out. Cramer has often said that he’s tried to assuage Wall Street concern

A second term would see the administration go after the globe’s multilateral trade institutions, multiple Wall Street policy analysts said. One of the administration’s key diplomatic wins came last week, when the White House reached an agreement with House Democrats to move forward with its replacement of the NAFTA. “It was always my plan, and I was criticized for this, as you know, it was always my plan that this should be a Trump trade policy,” he added. “And a Trump trade policy is going to g

Rick Gates, former campaign aide to U.S. President Donald Trump, departs federal court after being sentenced to 45 days in jail and three years probation, in Washington, DC, December 17, 2019. Rick Gates, the former deputy campaign chairman and inaugural official for President Donald Trump, was sentenced Tuesday to 45 days in jail to be served intermittently and three years of probation, winning leniency for his “extraordinary” cooperation with federal prosecutors against other Trump associates.

The House passed a $1.4 trillion spending package Tuesday, sending it to the Senate as Congress rushes to prevent a government shutdown. The Senate needs to pass the legislation — and President Donald Trump has to sign it — by Friday to keep federal departments running. The president is “poised” to sign the appropriations bills when they reach his desk, White House advisor Kellyanne Conway said earlier Tuesday. The House passed the sprawling legislation less than a day after lawmakers released i

Mike Dunleavy told CNBC on Tuesday that it will be hard for President Donald Trump to be booted from office, due to the strong economic performance during his tenure. The U.S. economy, which was on fire last year, has been cooling lately, under the weight of the U.S.-China trade war. The stock market, as measured by the S&P 500, since Trump’s 2016 election victory is up nearly 50%. Dunleavy said he met with a handful of government officials and Trump on Monday to discuss trade and the state of t

Negotiators have reached a tentative deal to end a labor dispute that led all the qualifiers for Thursday’s 2020 Democratic presidential debate to threaten a boycott. Workers had planned to picket during the debate if they did not reach a deal before Thursday. Democratic National Committee Chairman Tom Perez, who worked to salvage the debate, will appear there. Democratic candidates have courted organized labor, a key constituency for the party, as they look for an edge in a jammed primary field

For those considering another job, 2020 looks promising. “Every indicator we have still sees a robust and healthy job market barreling into 2020,” said Ian Siegel, the CEO of jobs marketplace ZipRecruiter. Top 10 hottest job markets in 20201. New York-Northern New Jersey-Long Island (New York-New Jersey-Pennsylvania)Not surprisingly, New York and Los Angeles have the largest job markets where job seekers have the best chance of landing a new position. At any one time, there are more than 200,000

Melanie Lockert addressed her debt anxiety and then set about paying down $80,000. baonaDon’t just pay the minimumLockert says she made a big mistake, originally paying off her loans as an ordinary monthly bill. Lockert chose the debt avalanche method: paying down the highest-interest debt as quickly as possible. Melanie Lockert bloggerPick the right payment planSome people like the satisfaction of the Dave Ramsey snowball method. “Put a reminder in your calendar for every due date of your loan,

An Eli Lilly & Co. logo is seen on the cap of a pill bottle in this arranged photograph at a pharmacy in Princeton, Illinois. Eli Lilly on Tuesday forecast a higher-than-expected profit for 2020, citing growing demand for its medicines including diabetes drug Trulicity and psoriatic arthritis treatment Taltz. Lilly sees the possibility for two product approvals and up to three new launches in 2020. For fiscal year 2020, the company forecast sales between $23.60 billion and $24.10 billion. The co

The U.S. Food and Drug Administration has approved Pfizer and Astellas Pharma’s Xtandi to treat patients with a type of prostate cancer, the companies said on Monday. The drug can now also be used to treat patients with metastatic hormone-sensitive prostate cancer, a form of prostate cancer that spreads to other parts of the body. Pfizer said Xtandi, in combination with an anti-hormone therapy, reduced the risk of cancer spreading or deaths by 61% in men with the disease, compared to placebo plu

Signage in the background says”‘FCA Fiat Chrysler Automobiles,” to which Jeep belongs. The boards of Fiat Chrysler Automobiles and Peugeot will meet separately on Tuesday to discuss finalizing an initial agreement for a $50 billion merger to create the world’s number four carmaker, sources said. Peugeot SA and Fiat Chrysler (FCA) in October announced a plan for a tie-up, with PSA’s Carlos Tavares as chief executive and FCA’s John Elkann as chairman. Both boards are expected to meet on Tuesday to

The Sackler family — owners of Purdue Pharma — transferred more than $10 billion in a decade from the OxyContin maker to its trusts and holding companies, the New York Times reported on Monday, citing a new audit commissioned by the drugmaker. The audit showed that from 2008 through 2017, Purdue’s payouts to the Sackler family totaled $10.7 billion, the report said. “These distribution numbers were known at the time the proposed settlement was agreed to by two dozen attorneys general and thousan

There’s a new leading bull on Wall Street. John Stoltzfus of Oppenheimer Asset Management is now at the top end of stock market projections for 2020, giving an S&P 500 target of 3500 for the year. That would be nearly a 10% climb for the index, which closed at just under the 3200 level on Monday. The projection includes a ratio of 20 times earnings, while the index currently trades at a ratio of about 18 times. Stoltzfus cites confidence in the Federal Reserve’s ability to navigate “uncertain wa