US stats agencies need ‘immediate’ help to do their job, report says

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ENERGY

Cambridge-based GE Vernova Inc. surged to a record high after showering shareholders with rewards in the latest sign that demand for new natural gas-fired power will remain robust for years into the future. Shares of the supplier of electric-generation equipment climbed 15.6 percent to $723 in Wednesday trading, a day after it doubled its dividend, increased the scope for share buybacks, and raised earnings projections at an investor day in New York. GE Vernova has benefited from soaring US demand for electricity, driven by data centers, artificial intelligence, and overall electrification of the economy. Shares of the company, which spun off from General Electric Co. in early 2024, have more than doubled this year. “AI is a real driver for us right now, but it isn’t the only driver,” chief executive Scott Strazik said in an interview Tuesday. “We’re going to generate a lot of cash, and that’s going to give us a chance to play offense.” The company estimated future earnings beyond 2028 to $52 billion from $45 billion and raised its adjusted earnings before interest, taxes, depreciation, and amortization margin for the same period to 20 percent from 14 percent. — BLOOMBERG NEWS

BROADCAST

CBS News on Wednesday named Tony Dokoupil, one of the hosts of its morning show, as the next anchor of the “CBS Evening News.” His appointment is the first significant shake-up at the broadcast news division under its new editor in chief, Bari Weiss, an opinion journalist who entered the job with little background in television news. “CBS Evening News” is the network’s flagship nightly newscast, drawing several million viewers each night, although it lags its competitors at ABC and NBC. Dokoupil, 44, is set to replace the dual-anchor team of John Dickerson and Maurice DuBois, both of whom have said they are leaving the network. “We live in a time in which many people have lost trust in the media; Tony Dokoupil is the person to win it back,” Weiss said in a statement Wednesday. “That’s because he believes in old-school journalistic values: asking the hard questions, following the facts wherever they lead, and holding power to account.” — NEW YORK TIMES

NEWSPAPERS

USA Today’s editor in chief, Caren Bohan, is out after a little more than a year leading the flagship newspaper of the Gannett chain. Her exit was confirmed on Wednesday by Monica Richardson, senior vice president of USA Today. No reason was given. Bohan became the newspaper’s top editor in September 2024 after a long career writing and editing about politics for the newspaper and, prior to that, at the Reuters news service. “Caren Bohan has been a valued colleague during her tenure at USA Today,” Richardson said in a statement. “We sincerely wish her well and thank her for her many contributions.” Like many news organizations, Gannett has suffered financially over the past two decades, and its leadership announced over the summer it was making $100 million in cuts. In a social media message announcing her departure, Bohan made reference to the “many challenges facing our industry” in praising the journalists at USA Today. “I am tremendously proud of the work we did, including audience-first storytelling, watchdog journalism and deeply reported narrative stories,” Bohan wrote. — ASSOCIATED PRESS

ECONOMY

Holiday shopping crowds are back, but the mood this year has shifted. Low- to middle-income shoppers are seeking discounts, cutting back on discretionary purchases, and turning to value brands at stores like Dollar General and Walmart. Wealthy shoppers are buying luxury brands at Bloomingdale’s, then, across town, those same high earners are sifting through dollar-store aisles for pantry staples. Confronting an uncertain economy and inflationary pressures, consumers are gravitating toward places that promise what they need most: low prices. And the retailers that can meet them there are reaping the rewards. “Consumers are eager to find the best deals to wrap up their holiday shopping,” said Natalie Martini, the vice chair and US retail and consumer products sector leader at Deloitte, the consulting firm. Discount retailers are among the biggest winners. Visits to Walmart, Burlington Stores, and Ross Dress for Less have increased this year, according to data from Placer.ai, a data analytics company that tracks foot traffic at stores. Dollar General and Dollar Tree recently reported strong quarterly sales growth, partly driven by high consumer demand for discounted goods. Both companies said during their recent earnings calls that they were drawing in higher-income shoppers hunting for value. Dollar General said the chain saw “disproportionate growth” from wealthier households, while Dollar Tree reported that 60 percent of its 3 million new customers this quarter earned more than $100,000 annually. Five Below reported double-digit increases in same-store sales, with gains across income levels. — NEW YORK TIMES

CONSUMER

Federal health officials on Wednesday expanded an outbreak of infant botulism tied to recalled ByHeart baby formula to include all illnesses reported since the company began production in March 2022. The US Food and Drug Administration said investigators “cannot rule out the possibility that contamination might have affected all ByHeart formula products” ever made. The outbreak now includes at least 51 infants in 19 states. The new case definition includes “any infant with botulism who was exposed to ByHeart formula at any time since the product’s release,” according to the US Centers for Disease Control and Prevention. The most recent illness was reported on Dec. 1. No deaths have been reported in the outbreak, which was announced Nov. 8. Previously, health officials had said the outbreak included 39 suspected or confirmed cases of infant botulism reported in 18 states since August. That’s when officials at California’s Infant Botulism Treatment and Prevention Program reported a rise in treatment of infants who had consumed ByHeart formula. With the expanded definition, the CDC identified 10 additional cases that occurred from December 2023 through July 2025. — ASSOCIATED PRESS