FOOD

Kellogg’s will cut 248 in Ohio

Kellogg’s will lay off nearly 250 employees in August due to a change in its snacks sales and distribution model, the Dayton Daily News reported.

The company will be closing and permanently laying off employees at its Cincinnati Distribution Center in Sharonville. The company expects to permanently lay off 248 employees, and the last day for all employees is expected to occur between July 29 and Aug. 11 for distribution center employees.

ECONOMY

Consumer confidence dips

U.S. consumers were slightly less confident in May for the second straight month, but they remain bullish by historical measures.

The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 117.9 from a revised 119.4 in April. The index hit 124.9 in March, its highest mark in 16 years.

The index that measures consumers’ feelings about the current economic situation increased slightly, while the index measuring consumers’ sentiment about the future was down more. Still, the expectations index is more than 30 percent higher than it was at this time one year ago.

RIDE SHARING

Uber fires star researcher

Uber has followed through on threats to fire a star autonomous-car researcher whose hiring touched off a bitter legal fight with Waymo, the former self-driving car arm of Google.

Waymo has alleged that Anthony Levandowski downloaded 14,000 documents containing trade secrets before he founded a startup that was purchased by Uber.

A federal judge has ordered Uber to return the documents and referred the case to the U.S. Attorney’s Office for possible criminal investigation.

Uber General Counsel Salle Yoo told Levandowski in a letter filed in court by Levandowski’s lawyers that he hasn’t complied with Uber’s requests to cooperate in obeying the judge’s order to return the documents.

REAL ESTATE

U.S. home prices climb

U.S. home prices climbed in March at the strongest rate in nearly three year as a dwindling supply of houses for sale is causing prices to significantly outpace income growth.

The Standard & Poor’s CoreLogic Case-Shiller 20-city home price index released Tuesday rose 5.9 percent over the past 12 months ended in March, the most since July 2014. Home values are increasing at more than double the pace of average hourly earnings, making it more difficult for many people to afford to buy a home.

A steady job market has bulked up demand among many would-be buyers, but there are fewer properties on the market. Sales listings have plummeted 9 percent over the past year to 1.93 million, according to the National Association of Realtors. The shortage of homes to buy has caused prices to rise sharply in many metro areas.

TELEVISION

Key CBS executive leaving

CBS says its entertainment president, Glenn Geller, is stepping down from that position. The company also said it’s in discussions with him for a production deal with CBS Television Studios.

Tuesday’s announcement comes two months after he suffered a mild heart attack.

Geller, who has been with CBS since 2001, was named entertainment president in September 2015. In that role, he led the network’s entertainment programming and creative affairs for prime time, daytime and late night, as well as program development.

CBS did not immediately announce who would succeed him.

ON OHIO.COM

Surging stocks with juice left

In his column this week, John Dorfman examines some stocks that were up 100 percent in the past 12 months that still have some juice left in them.

Go to http://tinyurl.com/dorf531 to read the column.

Compiled from staff and wire reports.