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Morning briefing: August 15, 2014 Live

Here's what's happening in the world of business on August 15, 2014.

 – BIG NEWS

In the latest move in the buzzing energy drink market, beverage retailer Coca-Cola announced it will pay $2.15 billion for a nearly 17 percent stake in Monster Energy and will place two directors on the company's board. The news comes after growing concern over the high caffeine levels in these drinks. In Suffolk County, pols passed a law limiting the sale of energy drinks to minors at county parks and beaches.

WebMD in 2012 compiled a list of caffeine levels in energy drinks. Check out the chart here.

-- BREACH WARNING --

Grocery chain Supervalu says it may have suffered at data breach at stores in Minnesota, Virginia, Illinois, Maryland and Missouri.

-- NEWS WITH WHEELS

 -- A three-wheeled car is closer to pulling into the auto market, company Elio Motors said today. The company plans to begin production next fall at a Louisiana General Motors plant on the tiny three-wheelers (if you can call it that). Trike?

Elio's vehicle is about the size of a Hondat Fit, gets 84 miles to the gallon and should cost just under $7,000.

-- EARNINGS –

-- Department store chain JC Penney narrowed its second quarter loss to $172 million on a 6 percent gain in sales. News comes after former CEO Ron Johnson was ousted after masterminding a failed turnaround plan.

– ELSEWHERE IN THE WORLD –

Chinese media says the founder of a web marketing company has admitted to deleting Web posts and makign up info in order to attrack more followers to Chinese microblogging site Weibo. The trial is part of China's crackdown on online rumors.

 

 

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