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Wonder Bread could soon be back on store shelves and Friday's start to massive spending cuts is predicted to hurt more than just government workers. Here's the Wednesday Bloomberg After The Bell Report from the New York Stock Exchange.
Friday's looming government spending cuts are likely to put financial pressure on the private sector as well. The Global Business Travel Association warns that small businesses will be hurt by the cuts, which are expected to cause lengthy airport delays. The group says the travel problems will negatively impact entrepreneurs working to secure business opportunities across the country.
It appears Wonder Bread has a new owner. Sources tell Bloomberg the brand, along with a majority of the Hostess bread making business, will be bought by Georgia's Flowers Foods, makers of Tastykakes. Hostess is liquidating assets after executives failed to reach a contract agreement with the company's bakers.
Stocks were higher Wednesday on better than expected housing data. Contracts to buy previously owned homes climbed more than twice as much as analysts had predicted last month, a sign the housing industry will keep gaining ground this year.