LVMH buys California wine giant Joseph Phelps as high-end drinks market soars

LVMH’s Moet Hennessy division on Wednesday announced it has acquired California wine-maker Joseph Phelps Vineyards, as the French luxury goods giant continues to broaden its drinks portfolio. The deal delivers Moet one of the best-known California wine makers, famous for its red table wines and premium Insignia label, and deepens its foothold in the U.S., its largest market. Terms of the deal were not disclosed. Moet Hennessy Chairman and CEO Philippe Schaus told CNBC the company had been looking around the world for larger winemakers that had the same dedication…

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Stocks making the biggest moves midday: Bed Bath & Beyond, Carnival, Upstart and more

A security guard stands next to a Bed Bath & Beyond sign at the entrance to a New York City store location. Scott Mlyn | CNBC Check out the companies making headlines in midday trading. Bed Bath & Beyond — Shares of the retailer plummeted about 21% after the company missed revenue estimates and posted a wider-than-expected loss in the recent quarter. Bed Bath & Beyond also announced it is replacing CEO Mark Tritton. Carnival — Shares of the cruise line operator fell more than 14% after Morgan Stanley cut its price target…

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Unilever reaches deal to keep selling Ben & Jerry’s ice cream in Israel

Consumer products giant Unilever said it reached a deal that will let its Ben & Jerry’s ice cream continue selling in Israel. The company said Wednesday that it sold the Israeli branch of the ice cream brand for an undisclosed sum to Avi Zinger, whose American Quality Products already licenses Ben & Jerry’s ice cream for sale in the country. The move by Unilever comes after Ben & Jerry’s, which has an independent board, said last summer that it was stopping sales in the territory that has been occupied by…

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A winning $1 million Mega Millions ticket is about to expire: Here’s how much lottery money goes unclaimed

It looks like a Mega Millions player is about to join the ranks of lottery winners who end up missing out on a windfall. A ticket purchased in Lewisville, North Carolina, and worth $1 million will expire Thursday at 5 p.m. The amount is a second-tier prize for matching five out of the six numbers that were pulled in the lottery game’s Dec. 31 drawing. “Sometimes people leave their tickets in a night stand, the glove compartment of their cars and trucks, or tucked away in a wallet,” said Mark…

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Summer temperatures — and inflation — are running hot. Here’s how to save money on cooling bills as prices rise

A pedestrian uses an umbrella to get some relief from the sun as she walks past a sign displaying the temperature on June 20, 2017 in Phoenix, Arizona. Ralph Freso | Getty Images Tips for efficient energy use Most cooling systems use electricity, so making sure your home is running as efficiently as possible can help you spend less to operate air conditioners and fans in the summer, according to Kelly Speakes-Backman, principal deputy assistant secretary for the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy. First,…

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Bed Bath & Beyond says it’s still open to selling its Buybuy Baby division

A view of the atmosphere during the Whitney Port & Bundle Organics #MomAsYouAre buybuyBABY product launch in Torrance, California. Randy Shropshire | Getty Images As Bed Bath & Beyond shakes up its leadership suite and ousts its CEO, the retailer said Wednesday it remains open to another big change: A potential sale of its baby gear chain, Buybuy Baby. “The business is a very attractive business, and we’re not alone in appreciating its value,” interim CEO Sue Gove said on a call with analysts when asked if a sale was…

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