U.S. sells 10-year notes at highest demand since June

Beaufort Bonnet Recalls Handmade Knit Dolls

Beaufort Bonnet Co. has issued a recall for thousands of handmade knit dolls after a sewing needle was discovered in the stuffing of one of the dolls.

The U.S. Consumer Product Safety Commission or CPSC said that the recall is for about 4,500 units of the stuffed, knit dolls as the needle poses a hazard of puncture injury.

Lexington, Kentucky-based Beaufort Bonnet received one report of a sewing needle found in the stuffing of a knit doll. However, no injuries have been reported.

The knit dolls, made in Peru, were sold in specialty stores nationwide and online from September 2016 through August 2019 for about $40 to $65.

The dolls are styled and named according to animal themes. This includes style names such as Drayton Hall Hare, Ellie Mae the Cat, Lionel the Lion and Woodmont Wabbit, among others.

Consumers will receive a full refund in the form of a gift card from the company.

In July, Walt Disney Co. recalled the Forky 11-inch Plush toy for posing a choking hazard, as the “googly” plastic eyes can detach. The company recalled about 80,000 toys in U.S. and about 650 toys in Canada. However, there were no reported incidents or injuries related to the toys.

Apple’s stock surge boosts market cap to above $1 trillion

The surge in Apple Inc.’s stock AAPL, +2.87% has propelled the technology giant’s market-capitalization back into trillion-dollar territory for the first time in 10 months. The stock surged 2.6% in midday trading, in the wake of Apple’s iPhone launch event on Tuesday. Based on 4.52 billion shares outstanding as of July 19, that would lift Apple’s market cap to $1.004 trillion. The last time Apple’s market-cap closed above $1 trillion was Nov. 1, 2018. Apple is still just the second-most valuable U.S. company by market cap, behind first-place Microsoft Corp.’s MSFT, -0.49% $1.035 trillion. Apple is well ahead of third-place Amazon.com Inc. AMZN, +0.63%, which is currently worth $904.7 billion. Apple’s stock has now run up 41% year to date, while the Dow Jones Industrial Average DJIA, +0.38% has gained 16%.

The latest trailer for 'Final Fantasy VII Remake' is a gorgeous nostalgia trip

  • “Final Fantasy VII Remake” is due out for PlayStation 4 on March 3, 2020, and Square Enix just dropped a new trailer at the Tokyo Game Show.
  • The new footage shows off the game’s villains: the president of the nefarious Shinra Company, and the Turks, Shinra’s suit-wearing enforcers.
  • “Final Fantasy VII Remake” will re-create the classic game from the ground up with totally new gameplay, but classic characters, summons, and the story will remain the same. The remake will be split into a series, with this game focusing on the city of Midgar.
  • You can watch the trailer in English below, or watch here if you prefer Japanese voices.
  • Visit Business Insider’s homepage for more stories.

US can trump China innovation: Condoleezza Rice

Condoleezza Rice talks new book that compares the Cold War to present day

Former Secretary of State Condoleezza Rice discusses her new book

The United States can rise above China in the global race for artificial intelligence dominance, former Secretary of State Condoleezza Rice said.

Continue Reading Below

“The United States can win any competition in innovation. I'm confident of that, but we have to do it in our own way,” she told FOX Business’ Maria Bartiromo on Wednesday. “It means that we're not going to be able to do it in a state-controlled way that China does it.”

What the U.S. government could do is increase the National Science Foundation budget by 25% to help bolster research and development of A.I., Rice said.

“I understand China is going to have access to large amounts of data that will make the progress in A.I., for them, more rapid. But we can't out China, China. Our strength is innovation from below.”

Rice also examines the ongoing competition with China in her new book, “To Build a Better World: Choices to End the Cold War and Create a Global Commonwealth.”

Advertisement

CLICK HERE TO READ MORE ON FOX BUSINESS

Tesla stock jumps nearly 5%, its best in seven weeks

Shares of Tesla Inc. TSLA, +4.67% on Wednesday hovered at their best in seven weeks and extended their gains to a third straight session. The stock is up more than 8% in September, a contrast with losses of nearly 7% in August. Chief Executive Elon Musk late Tuesday tweeted the Model S, Tesla’s luxury sedan, had just set a record for the fastest four-door sedan "ever," promising a video of the alleged feat later today. Tesla shares have lost 26% this year, in contrast with gains of more than 19% for the S&P 500 index. SPX, +0.45%

U.S. sells 10-year notes at highest demand since June

Sept 11 (Reuters) – The U.S. Treasury Department on Wednesday sold $24 billion of 10-year notes at the strongest demand in three months, resulting in a yield of 1.739%, which was above a near three-year low set at the previous auction, Treasury data showed.

The ratio of bids to the amount of 10-year government issue offered was 2.46, the highest reading since June. This measure of overall demand was 2.20 at the prior 10-year note sale in August. (Reporting by Richard Leong Editing by Chris Reese)