Ad restrictions: A proposal striking at the proliferation in Louisiana of TV, radio and billboard ads by lawyers promising big payouts is headed to the state House for debate after winning support from senators Thursday. Sen. Heather Cloud’s bill would declare as false or misleading those lawyer ads in which a person claims to have received the full amount of a settlement or judgment. Instead, the ads would have to disclose how much was deducted for attorney fees, expert witness fees, court costs and any other expenses related to the litigation. Read the full story.
Record drop: U.S. industrial production suffered the most severe plunge on record last month with factories, mines and utilities battered by the coronavirus pandemic. The Federal Reserve said Friday that its industrial production index tumbled a record 11.2% in April. Manufacturing output also posted a record drop, 13.7%, as production of cars, trucks and auto parts plummeted more than 70%. Production of aerospace and other transportation products, metals and furniture fell around 20%. Output dropped 6.1% at mines and 0.9% at utilities. Read the full story.
In the basket: Grocery prices showed their biggest monthly increase in nearly 50 years last month, led by rising prices for meat and eggs, the U.S. Bureau of Labor Statistics reports. U.S. consumers paid 4.3% more in April for meats, poultry, fish and eggs, 1.5% more for fruits and vegetables, and 2.9% more for cereals and bakery products, the Labor Department said. Overall, consumers paid 2.6% more in April for groceries, the largest one-month jump since February 1974. Read the full story.
