Blended: Gov. John Bel Edwards this week signed into law a bill that dissolves the Pointe Coupee Port Commission, conveying its assets to the Baton Rouge port. The bill, sponsored by Sen. Rick Ward, R-Port Allen, unanimously passed both houses of the Legislature. Read a recent Daily Report story about why proponents were in favor of the merger.
Hot Wheels: Mattel is giving new life to the tiny cars that many parents know the pain of stepping on, USA Today reports. The company is finally ready to give America’s best-selling toy a detail job and re-introduction, by reinventing the venerable toy line as Hot Wheels id, a physical toy that now connects to video play, via a smartphone and tablet app, as well. The Apple Store has nabbed an exclusive window of the next 30 days to demonstrate the toy and sell it at retail. Read the full story.
Sales boost: U.S. retail sales posted a broad-based gain in May and the prior two months were revised higher, suggesting consumer spending is healthy enough to limit the case for a Federal Reserve interest-rate cut in the near term, Bloomberg reports. The value of overall sales rose 0.5% from the previous month after a 0.3% increase in April that was revised from a decline, according to Commerce Department figures released Friday. The median forecast in Bloomberg’s survey of economists was for a 0.6% gain. Read the full story.