Must Read Money Stories for Friday, July 22

by July 22, 2016

Must Read Money Stories

Walmart embraces imperfect fruit.

No. That fruit at Walmart hasn’t gone bad. Walmart is selling apples that are misshapen, twisted and bruised at a discount in an effort to reduce food waste, reports The Fiscal Times. Extreme weather such as hail, high winds, too much rain or too much sun can damage the exterior finish of many fruits, but the inside is just as healthy and delicious. That was Walmart’s sentiment in a statement announcing a brand of Washington state apples with imperfections called “I’m Perfect.” The line includes 12 varieties, including Granny Smiths and Red Delicious. In recent decades, consumer preferences for perfect-looking fruit send about 80 billion pounds of edible produce to landfills, according to the environmental activist group, The Sierra Club.

Roger Ailes’ resignation.

Roger Ailes, the chairman and chief executive of Fox News Channel, has resigned from his role following allegations of sexual harassment, the company said on Thursday. Rupert Murdoch, the executive chairman of Twenty-First Century Fox Inc., the parent company of Fox News, will take over as chairman and CEO of Fox News and Fox Business Network, Reuters reported. Ailes helped build Fox News into the most-watched U.S. Cable news channel and also advised several U.S. presidents, including George H.W. Bush. Former Fox news anchor Gretchen Carlson filed a lawsuit against Ailes earlier this month, claiming sexual harassment. Ailes has denied that he ever sexually harassed Carlson. Though it’s not looking good for Ailes. New York Magazine reported other women also say Ailes harassed them from as far back as the ’60s. Fox News anchor Megyn Kelly also told investigators Ailes made unwanted sexual advances toward her a decade ago.

U.S. Justice Department sues insurers.

The U.S. Justice Department moved to block a pair of proposed deals that would merge four of the health insurance industry’s largest players. Thursday’s lawsuit would prevent Anthem Inc.’s $48 billion takeover of Cigna Corp. and Aetna Inc.’s $37 billion offer for Humana Inc. —on the grounds the deals would raise health-care costs and reduce consumer choices, Bloomberg reported. Aetna and Humana have said they will fight the lawsuit. Cigna said it is reviewing its options, while Anthem said it is ready for a legal battle but also is open to a settlement with the Justice Department. The Obama Administration has underscored the importance of competition among health insurers, in an effort to provide consumers with choice and affordable options under the Affordable Care Act.

Pokemon Go gives businesses a boost.

Detroit businesses are getting a boost from an unexpected source: the popular mobile game Pokemon Go, reports The Detroit Free Press. The game attracted more users than Twitter within three days of its release. The mobile game gets users off the couch and exploring new shops, restaurants and landmarks in method that encourages interaction and trying new things. In the game, a customizable character competes on a map representative of the gamer’s surroundings, complete with Pokestops — usually landmarks, popular locations, wooded areas or educational places. The game is available across the country.