California utility PG&E shares tumbled 19%, on pace for their biggest drop since the Covid-19 selloff of March 2020.

Other California-based utility stocks also sank, including Edison International. Its shares are down 20%, on pace for their biggest loss in more than 25 years.

Newsom and California lawmakers have clashed this month over updates to the state’s wildfire response. The administration initially proposed blocking insurance companies from suing utilities over wildfire claims—a move proponents argue is necessary to prevent higher electricity bills for California residents and to prevent utilities from facing bankruptcy.

BOSTON — Unrefined Foods is adding to its portfolio of frozen foods with a line of frozen breakfast muffins.

The organic muffins are formulated with stone-milled whole grains and are sweetened with maple syrup. The muffins are available in banana bread, cinnamon swirl and loaded blueberry varieties.

“We created Unrefined Foods to eliminate a trade-off parents shouldn’t have to make,” said Melissa Bermudez, co-founder of Unrefined Foods. “Convenience shouldn’t require compromise. Busy families need packaged foods that are quicky and easy to eat on the go; they just deserve packaged foods made from healthy, wholesome ingredients they’d actually choose themselves.”

The breakfast line may be purchased at select retailers across New England and online through the company’s website.

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A fuel supplier is suing a New Jersey distributor and its president, alleging they failed to pay for gasoline that was later sold through stations in the Trump-promoted Freedom Fuel Network.

Mansfield Oil Company filed the lawsuit against KRSM Inc. and its president, Syed Kazmi, on Aug. 19 in the U.S. District Court for the Eastern District of Pennsylvania. Mansfield alleges KRSM obtained approximately 150 loads of fuel from its account at the Twin Oaks terminal in Pennsylvania between May 21 and July 7, totaling roughly 1,124,594 gallons worth $3,998,868.46. 

“KRSM sold a portion of such fuel to its stations that are part of the Freedom Fuel Network,” Mansfield alleges in the complaint. The company further claims KRSM was able to sell some of the fuel at low prices because it had not paid Mansfield for it. Those allegations have not been adjudicated. 

KRSM had been a Mansfield customer since 2022. A commercial credit application included with the complaint and signed by Kazmi states that if Mansfield extended credit and KRSM purchased fuel, KRSM would be responsible for paying for it. The agreement called for payment by electronic funds transfer within 10 days of receiving an invoice. 

VENEZUELA SAYS TRUMP’S HISTORIC OIL DEAL TARGETS 1.5M BARRELS PER DAY, COULD GENERATE $200B

A fuel truck arrives to refuel a Freedom Fuel Network gas station on Aug. 10, 2026, in West Berlin, New Jersey. (Al Drago/Getty Images)

Mansfield acknowledged in the complaint that a data-receiving error delayed its ability to send the invoices until early July. The company said it later discussed what it characterized as minor pricing discrepancies with Kazmi, revised the invoices and sent them to KRSM on July 17. Mansfield alleges its bank subsequently advised it that KRSM had refused attempted drafts from its account. 

KRSM disputes Mansfield’s account of the payment dispute.

Kazmi said in an Aug. 25 court declaration that he “did not agree that the amounts Mansfield demanded were correct or owing.” In court filings, KRSM contends the dispute centers on the prices Mansfield charged for the fuel and says it objected to the invoices before the lawsuit was filed.

On Aug. 28, U.S. District Judge Gerald Austin McHugh vacated an earlier temporary restraining order that had frozen the identified M&T Bank account but granted Mansfield’s requests for preliminary injunctions in part. McHugh ordered the defendants to maintain at least $2.75 million in the account while the litigation proceeds.

The Freedom Fuel Network drew national attention after lowering pump prices amid President Donald Trump’s push for cheaper gasoline.

The White House published a Freedom Fuel Network video on July 7 promoting the network’s lower prices.

President Donald Trump in the Oval Office of the White House in Washington, D.C., on Aug. 27, 2026. (Al Drago/The Washington Post/Bloomberg via Getty Images)

Freedom Fuel says on its website that it is a privately owned company that “answered President Trump’s call to action to lower prices at the pump.”

“We didn’t hesitate; we took decisive action and lowered our prices to make filling up more affordable for hardworking families across the greater Philadelphia area,” the company says on its website.

Freedom Fuel also says 25 participating stations experienced an average volume increase of more than 50% after prices were lowered, with several locations increasing more than 100%. Those figures are company-reported and have not been independently verified.

A man uses a gas pump at a Shell gas station in Houston, Texas, on March 16, 2026. (Ronaldo Schemidt/AFP via Getty Images)

Mansfield’s lawsuit brings claims including breach of contract, unjust enrichment, action for the price, account stated and conversion. The company is seeking at least $3.998 million, plus interest, costs and other damages. 

CLICK HERE TO GET FOX BUSINESS ON THE GO

Fox Business reached out to attorneys for KRSM and Kazmi, Freedom Fuel Network and counsel for Mansfield Oil for comment.

Australian retail traders seeking a user-friendly mobile platform for contracts for difference have a clear frontrunner in 2026, according to independent platform testing. Plus500, operated locally by Plus500AU Pty Ltd under Australian Securities and Investments Commission licence AFSL 417727, ranks as the best overall trading app for its tap-to-trade design, one-tap guaranteed stop-loss orders and rapid onboarding process. Sources: (FXEmpire, Investing.com, compareforexbrokers.com.au, Investing in the Web Plus500 Review 2026

Independent evaluations of ASIC-regulated apps conducted through mid-2026 consistently place Plus500 highly for overall mobile experience. Testers scored the app highly across criteria including order placement speed, ease of account setup, biometric login options and parity between the mobile version and the full web platform. Onboarding typically requires only an email to access a free unlimited demo account. The app supports Face ID, Touch ID and fingerprint authentication, and delivers the complete feature set available on desktop across more than 2,800 CFD instruments. Sources: (FXEmpire, Investing.com, compareforexbrokers.com.au)

Visit Plus500 (CFD service. Your capital is at risk)

Plus500 offers CFDs on shares, indices, forex, commodities, ETFs, options and cryptocurrencies. Pricing is commission-free, with costs embedded in the spread. Typical spreads reported in recent testing include around 0.8 pips on EUR/USD, 1.0 pips on GBP/USD and 0.9 pips on AUD/USD, though these fluctuate with market conditions. The minimum deposit stands at A$200, with fee-free Australian funding options that include PayID, BPAY, cards and PayPal. Retail leverage remains capped under ASIC’s Product Intervention Order, and negative balance protection applies so clients cannot lose more than the funds deposited.

Client money is held in segregated trust accounts with Australian banks in accordance with the Corporations Act. Plus500AU does not use client funds for hedging or its own business purposes. The parent company, Plus500 Ltd, is listed on the London Stock Exchange as a FTSE 250 constituent, providing an additional layer of public financial reporting and governance transparency. The firm is also an AFCA member for dispute resolution.

The app’s risk-management tools stand out for casual and intermediate users. Guaranteed stop-loss orders can be set with a single tap and are priced via a wider spread at the time the position is opened. Trailing stops, price alerts and push notifications during Australian market hours further support position management on the go. Charting includes more than 100 indicators and drawing tools, though it remains more basic than the 115-plus indicator suites offered by some competitors.

While Plus500 leads for user-friendliness and mobile usability, other ASIC-regulated apps serve different needs. Pepperstone’s cTrader platform appeals to active forex and CFD traders seeking tighter raw spreads and depth-of-market data. CMC Markets’ Next Generation app provides desktop-grade charting and a broader instrument range that includes ASX share trading alongside CFDs. eToro remains popular for social and copy-trading features, while Interactive Brokers offers deeper multi-market access for more experienced users. Independent shortlists from 2026 testing routinely list these platforms immediately after Plus500 for specialised use cases.

Visit Plus500 (CFD service. Your capital is at risk)

CFD trading carries significant risk. ASIC and brokers themselves note that a substantial majority of retail CFD accounts lose money. Leverage amplifies both gains and losses, and positions can be closed automatically if margin requirements are not met. Prospective users are advised to review the Product Disclosure Statement and Target Market Determination, practise extensively on the free demo account, and trade only capital they can afford to lose. Educational resources on the platform cover basic concepts, though more advanced research and technical analysis tools are limited compared with some rivals.

Market conditions in 2026 continue to favour mobile-first platforms as smartphone trading volume grows. Australian regulators maintain strict oversight of CFD providers, enforcing segregated funds, negative balance protection and leverage limits that apply equally on mobile and desktop. Plus500 has operated under its current ASIC licence since 2012 and maintains compliance with these rules.

For traders who prioritise a clean interface, fast execution on a limited number of weekly trades, and built-in risk controls without the complexity of MetaTrader or advanced multi-platform setups, recent independent assessments identify Plus500 as a leading CFD trading platform available in Australia. Those seeking the absolute tightest spreads, extensive automation or real share ownership under CHESS sponsorship may find better fits elsewhere. As always, individual circumstances, risk tolerance and trading style should guide the final selection after careful comparison of fees, features and regulatory protections. Sources: (FXEmpire, Investing.com, compareforexbrokers.com.au)

The competitive landscape remains dynamic, with brokers continually refining mobile interfaces and funding options. Yet for the combination of accessibility, regulatory standing and practical risk tools that define everyday mobile CFD trading in Australia this year, Plus500 currently sets the benchmark.

Visit Plus500 (CFD service. Your capital is at risk)

MINNEAPOLIS — Vibrant growth for Uncrustables has The J.M. Smucker Co. working to ramp up the momentum, including by bolstering production, marketing and innovation for the handheld PB&J sandwich brand.

Double-digit growth for Uncrustables fueled a 3% net sales gain in the fiscal 2027 first quarter for J.M. Smucker’s US Retail Frozen Handheld and Spreads business, which also saw profit climb 13% year over year. The Minneapolis-based food company said a 10% increase in volume/mix for Uncrustables lifted the division’s performance, and the Away From Home segment also benefited from rising Uncrustables volume.

“Beginning with Uncrustables, the brand delivered 12% net sales growth at the total company level, driven by a double-digit increase in volume/mix,” Mark Smucker, chairman and chief executive officer, said in reporting first-quarter results. “The brand achieved record quarterly volume, net sales and household penetration, reflecting the strength of our proven brand-building model, continued distribution gains and consumer-led innovation.”

J.M. Smucker has prioritized Uncrustables as one of its key growth platforms. In fiscal 2026, Uncrustables surpassed annual sales of $1 billion.

“Momentum for the Uncrustables brand remains strong, and with household penetration of 27%, we continue to see significant runway ahead,” Smucker said. “To support this growth, we are accelerating our plans to bring the second phase of our McCalla, Ala., facility online toward the end of this fiscal year.”

Manufacturing, innovation boost

J.M. Smucker opened a 900,000-square-foot manufacturing plant for Uncrustables in McCalla back in November 2024, which freed the brand from previous production capacity constraints. Then, this past January, the company said it’s investing $27 million in the McCalla facility to fortify production and operations.

Growth for Uncrustables has been driven in part by J.M. Smucker’s stepped-up innovation efforts for the brand. In September 2024, the company launched the first new flavor for Uncrustables in 10 years (peanut butter and raspberry spread), which was followed in May 2025 by the brand’s first-ever limited-edition flavor (peanut butter and mixed berry spread) and in October 2025 by the rollout of higher-protein Uncrustables sandwiches.

Earlier this year, Smucker said at an investor conference that Uncrustables would be expanding from the freezer to the fridge with the launch of sandwiches with a five-day refrigerated shelf life. The product, which can be stored in the freezer for a longer lifespan, made its debut in July.

“Our newest innovation, fridge-friendly Uncrustables sandwiches, is resonating with consumers, and we are beginning to support the launch with a robust marketing campaign across social, influencer and digital channels,” Smucker said. “We are also building on the strong momentum of our morning protein platform with the recent launch of two new flavors, Beamin’ Berry Blend and Burstin’ Blueberry. These varieties are driving incremental growth and further expanding the Uncrustables brand’s presence in the morning occasion.”

Growth story

Uncrustables’ ongoing growth factored into J.M. Smucker’s raised top-line guidance for fiscal 2027, to net sales decreases of 1% to 2% from the previous projection of down 3% to 4%, said Tucker Marshall, chief financial officer and executive vice president of Frozen Handheld and Spreads and Sweet Baked Snacks.

“In US Retail Frozen Handheld and Spreads, we now expect net sales to increase low-single digits compared to the prior year, driven by the strength and momentum of the Uncrustables brand,” he said.

“Fridge-friendly” Uncrustables can be stored in and eaten straight from the refrigerator for up to five days.

| Photo: J.M. Smucker Co.

In an Aug. 26 conference call with analysts on first-quarter results, Marshall said J.M. Smucker is reinvesting a portion of its tariff refunds in the Uncrustables plant in McCalla.

“As we think about the business, we continue to support growth,” he said. “We now expect high-single-digit growth for the Uncrustables brand, total company, total venture. And as we move forward, we’ll continue to support the portfolio with ongoing marketing investments and also ensuring that we continue to bring production along as we support demand. As you can see or you may have read, we are increasing preproduction expenses for the year in support of the McCalla, Ala., facility. And so, the margin profile may take a slight step back in our next few quarters, but the profile continues to remain strong.”

When asked what was behind Uncrustables’ strong growth, Smucker said, “I would sum it up this way: All the fundamentals are right.”

 “We’ve got new marketing, the launch of fridge-friendly,” he explained. “You can keep the Uncrustables stored in your fridge for five days — so instant consumption, if you will. Price-pack architecture is right. So, just competitively, I think we’re in the sweet spot there. The breadth of our offerings, whether that’s new flavors — some are limited-time offerings — and hitting on dayparts with the higher-protein offerings as well. Just the combination of all of those things has also led to stronger distribution gains. And our Away From Home business is performing well, still building out our c-store presence with the larger chain customers. So I would just say it’s a tale of just doing all of those important things right.”

Marshall said Uncrustables “continues to be a great story” for J.M. Smucker.

“It’s going to demonstrate another year of growth,” he said. “It continues to demonstrate growth in traditional US retail channels and also in the away-from-home channel. We’re also bringing along innovation. We’re supporting brand-building, and we are increasing capacity in support of ongoing demand.” 

MIAMI — The National Hurricane Center is monitoring two areas of potential tropical development in the Atlantic basin, with a disturbance in the northern Gulf carrying increasingly high odds of strengthening into a short-lived tropical depression or tropical storm before reaching the Texas or Louisiana coast as soon as Monday night.

The system, designated Invest 97L, was located roughly 100 to 125 miles south of the southeastern Louisiana coast as of Monday morning, according to the National Hurricane Center. As of the agency’s latest advisory, the disturbance carried a 70% chance of development over both the next 48 hours and the next seven days, an increase from the 30% to 50% odds forecasters had assigned the system over the weekend as it became better organized. An Air Force Reserve reconnaissance aircraft, commonly known as a hurricane hunter, was scheduled to investigate the low-pressure area Monday morning to gather more detailed data on its structure.

Forecasters say the disturbance is expected to drift slowly west-northwest across the northern Gulf before potentially strengthening into a short-lived tropical depression or tropical storm as it approaches the upper Texas or southwestern Louisiana coast late Monday or early Tuesday. If the system’s maximum sustained winds reach 39 mph, it would be named Tropical Storm Edouard, the fifth named storm of the 2026 Atlantic hurricane season. The National Hurricane Center has said tropical storm watches or warnings could be issued for portions of the Gulf Coast later Monday as the system continues to organize.

Regardless of whether the disturbance officially strengthens into a named storm, forecasters say its primary threat will be heavy rainfall rather than strong winds. The National Hurricane Center said the system is expected to bring locally heavy rain to portions of the upper Texas and southwestern Louisiana coasts over the coming days, with rainfall totals of up to 2 inches expected in some areas and higher localized amounts possible. Southern Louisiana has been placed under a marginal risk for heavy rainfall, raising the potential for flash flooding, particularly given recent dry conditions in the region. Forecasters covering the Houston area have said the system could bring an uptick in showers and storms by Tuesday and Wednesday as it moves inland, with the potential for rainfall totals to climb further depending on how the system tracks once it makes landfall.

Separately, the National Hurricane Center is also tracking the remnants of former Tropical Storm Dolly, which are producing showers and thunderstorms stretching from Hispaniola eastward to the northern Leeward Islands. That system is moving west to west-northwest at roughly 20 to 25 mph, and forecasters say strong upper-level winds are expected to prevent redevelopment over the next couple of days. The National Hurricane Center has given Dolly’s remnants a near-zero chance of redevelopment over the next 48 hours and just a 20% chance over the next seven days. Even without redeveloping into a formal tropical system, forecasters say the moisture associated with Dolly’s remnants could reinforce an already wet pattern across South Florida later this week as the disturbance approaches the southern Bahamas or the Florida Straits. Should either the Gulf system or Dolly’s remnants develop into a named storm, the next name after Edouard on this year’s Atlantic storm list would be Fay.

The Atlantic hurricane season is now moving into its historical peak period, which arrives around Sept. 10 and spans the stretch from mid-August through mid-October, when ocean temperatures are typically at their warmest and atmospheric conditions are often more conducive to tropical development. So far this season, the Atlantic has produced four named storms, Arthur, Bertha, Cristobal and Dolly, but no hurricanes. By comparison, the climatological average season has typically produced its sixth named storm and first hurricane, generally forming around Aug. 11, by this point on the calendar, putting the 2026 season somewhat behind its typical pace in both named storm activity and hurricane formation.

Forecasters have cautioned that a slower-than-average start to the season does not determine how active the remainder of it will be. With the Atlantic entering its peak window for tropical activity, meteorologists say conditions can shift quickly, and it takes only one significant landfalling storm to make a season consequential regardless of how quiet its earlier months may have been. Residents along the Gulf Coast, particularly in southeast Texas and southwestern Louisiana, are being urged to monitor forecast updates closely in the coming days as Invest 97L continues its approach toward the coastline.

0815 ET – Oil futures rise after the U.S. attacked Iranian rocket launchers, renewing military action in the Persian Gulf for the first time in weeks. “The longer geopolitical uncertainty and supply disruptions continue, the tighter the market gets, keeping upward pressure on crude,” Nikos Tzabouras of Tradu says in a note. But the U.S. may have limited appetite for broader military action with its shift in focus to economic measures against Tehran and its enablers, he adds. Although below prewar levels, crude is finding its way out of the Middle East and with lower consumption the market could return to balance, he adds. WTI is up 3.4% at $86.21 a barrel, and Brent is 3.1% higher at $90.85. (anthony.harrup@wsj.com)

Oil Rises as U.S.-Iran Tensions Escalates

0933 GMT – Oil prices rise as renewed fighting between the U.S. and Iran revives concerns over crude flows through the Strait of Hormuz. November Brent rises 3.4% to $91.08 a barrel, while October WTI gains 3.3% to $86.19 a barrel. U.S. forces struck Iranian missile launchers on Larak Island, prompting retaliation from Tehran and renewed fears over safe passage through the key Gulf shipping route. Recent disruptions have shown how quickly uncertainty around Hormuz can feed back into oil prices, say ING commodity strategists Warren Patterson and Ewa Manthey. (farhan.rafid@wsj.com)