Your Money: Thursday, Aug. 28, 2014 - News, Weather & Sports

Your Money: Thursday, Aug. 28, 2014

 LOUISVILLE, KY (WAVE) - Here's a look at your top consumer headlines.

Whiskey Wars

In yet another sign of worsening economic relations between the US and Russia, Brown-Forman is now battling accusations that harmful chemical substances were discovered in its liqueur.

Russia's consumer agency, Rospotrebnadzor, announced its discovery last week, pointing specifically to Jack Daniel's Tennessee Honey Liqueur. CNBC reports Brown-Forman denied allegations of the “presence of harmful substances in any of our products.”

Yesterday, the US company released its first quarter results for 2014. While the company reported growth overall, it warned of increased scrutiny for American brands in Russia, stating:

“The geopolitical environment remains fragile, particularly in Russia, where iconic American brands are experiencing increased scrutiny, including some of Brown-Forman's brands.”

Brown-Forman is not the only liquor company facing such accusations. Earlier in August, Russia suspended its imports of Kentucky Gentleman bourbon. Once again, the consumer agency found signs of a chemical substance in the bourbon, which is made at the Barton Brands Distillery in Bardstown.

The two brands join a growing list of American-based products and companies Russia has either banned or suspended since the West imposed new sanctions on the country. This week, three McDonald's restaurants closed down in Moscow, over more accusations of sanitation rule violations.

Time to Trade-In your iPhone

Apple is expected to unveil the iPhone 6 in early September. The latest smartphone will reportedly have a bigger screen, making the competition with Samsung smartphones even closer.

If you're planning on getting the newest iPhone, now is the time to trade in your old one. The trade-in value of an old phone typically will drop sharply before the launch of a new one. At this time, a 16GB iPhone 5S could be worth up to $290. That price is expected to continue to fall throughout the next few weeks.

Check Before Plugging-In

HP has issued a warning for anyone who owns a laptop: check your charging cord before using it again. HP announced this week that it is recalling six million power cords thanks to a problem with overheating. The recall affects cords sold between September 2010 and June 2012 for HP and Compaq notebooks. CNN reports HP has received nearly 30 reported cases of overheating, two of which involved burns.

If you believe your cord may be part of the recall, you can check on the company's website at this link.

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