From cheese recalls to Klarna’s IPO, this week in business had it all
This week served up a sampler platter of business stories with a little bit of everything: food recalls that had shoppers double-checking the fridge, a high-stakes immigration raid that spilled into international diplomacy, and a splashy fintech IPO testing investor appetite. Housing data hinted that the balance of power is (slowly) tilting back toward buyers in parts of the country, while a blue-chip tech veteran reminded Wall Street that AI demand can paper over a messy quarter. Overseas, Argentina’s markets were whipsawed by politics—again—underscoring how quickly sentiment flips when reform agendas wobble.
There’s a common thread running through it all: resilience under pressure. Food companies are racing to pull risky products before they cause harm; automakers and suppliers are navigating the fine print of U.S. work visas; and growth-hungry firms are courting the public markets even as valuations come back to earth. At the same time, nonprofits are turning into content studios to build community (and revenue), builders are using incentives to keep homes moving, and investors are trying to separate real AI tailwinds from hype. It’s a reminder that business isn’t just earnings and charts—it’s people, policy, logistics, and timing. With that, let’s dig into the biggest moves and what they could mean next.
Cheese recall over Listeria fears
The Food and Drug Administration flagged multiple cheeses from both Middlefield Original Cheese Co-Op and Sunrise Creamery this week after listeria was detected on finished product and cutting equipment. Impacted items range from Gouda and Swiss to pepper Jack and shredded blends, with some sell-by dates stretching into 2026. No illnesses have been reported, but consumers are asked to return or toss affected products and check pantries for long-dated packs.
ICE raid at Hyundai battery site sparks a diplomatic scramble
On September 4, roughly 300 South Korean workers were detained during a Georgia raid tied to a $4.3 billion Hyundai-LG Energy battery project, the largest single-site action of its kind by U.S. Immigration and Customs Enforcement. Seoul arranged a charter flight to return the workers to South Korea and is pushing for smoother U.S. visa pathways for technical staff. The incident could complicate trade ties and serves as a cautionary tale for foreign firms staffing fast-moving U.S. projects.
Frozen foods salmonella recall widens
Chetak LLC expanded its voluntary recall to dozens more Deep-brand frozen veggies and fruits after a positive salmonella test. The outbreak has sickened 11 people across 10 states and led to four hospitalizations. It’s part of a broader run of salmonella alerts this season; retailers are urged to pull impacted lots immediately.
NYC Marathon nonprofit launches a content studio
New York Road Runners is spinning up East 89th St Productions to capture the marathon’s built-in drama and community. First up: Final Finishers, a documentary premiering at Tribeca that celebrates those last epic hours at the finish line. Beyond storytelling, NYRR sees content as a way to diversify revenue and deepen ties with runners and donors.
Housing tips toward buyers in 14 states
Active listings are up year over year, and in 14 states inventory has climbed back above 2019 levels—giving buyers a bit more leverage. Sunbelt and Mountain West markets that ran hot during the Pandemic Housing Boom are seeing softer pricing as builders dangle incentives. Nationally we’re still below 2019 inventory, but the trend is moving away from sellers’ complete control.
Klarna finally lists—at a slimmer valuation
BNPL heavyweight Klarna priced its New York Stock Exchange debut at $40 a share, above guidance but well below its 2021 peak valuation. The company is profitable again, but investors will watch whether growth can continue without fueling consumer debt concerns. For the IPO market, it’s another data point that “public is open,” just not at 2021 prices.
Argentina’s markets stumble after local election shock
A big loss for President Javier Milei’s party in Buenos Aires sent the peso to new lows and hammered stocks and bonds. The setback clouds the path for reforms in the South American country and raises questions about its foreign exchange policy ahead of national midterms. With International Monetary Fund support in the backdrop, investors are bracing for more currency and debt volatility.
Oracle pops on AI cloud optimism
Austin-based Oracle Corp. missed on earnings and revenue in its first quarter, but shares ripped higher on September 10 thanks to eye-popping AI-driven cloud bookings and long-term revenue targets. CEO Safra Catz touted multibillion-dollar deals with marquee AI names and a massive jump in remaining performance obligations. Investors shrugged off recent layoffs, focusing instead on the growth runway through the decade.
Ford recalls ~1.5 million vehicles for backup-camera glitch
Ford issued yet another recall this week. This one, announced September 9, is due to a faulty rear-view camera that can display a blank or distorted image across a wide range of 2015 to 2019 Ford and Lincoln models. The company will inspect and replace cameras at no charge; regulators cite 18 accidents and no injuries. Owners will get mailed notices with service instructions.
