American multinational food and beverage giant with a global footprint and a string of major brand acquisitions
Refunds from court-invalidated tariffs are flowing to businesses, offsetting inflation and costs. Firms plan to use the money to offset rising expenses, reinvest, or pay down debt. The timing and distribution of the refunds could influence how price pressures transmit through the economy.
AstraZeneca has announced that Wainua, its gene-silencer drug for transthyretin-mediated amyloid cardiomyopathy, did not meet its primary endpoint in a phase 3 trial. The news triggers a sharp stock drop and prompts investors to rethink the company’s long-term growth targets and the strength of its pipeline.
PepsiCo has reported a mixed second quarter, with North American volumes flat or down and international markets driving overall growth. Revenue rose 6.4% to $24.18 billion, but North American beverage volumes fell 4% and per-share earnings narrowly missed expectations. The company has signaled a slower but steady recovery in North America as inflation pressures persist.
Retailers face pressure as volume declines outpace inflation, prompting price cuts and promotions to spur unit growth. Bain data shows grocery units fell 1.8% year over year in June, while prices remain elevated. Major chains push value-focused strategies amid softer consumer demand.
The United States has set 10% to 12.5% tariffs on imports from 60 countries accounting for 99% of U.S. imports, arguing that they fail to enforce bans on goods made with forced labour. The tariffs take effect as prior global levies expire, with India and others qualifying for lower rates after tightening enforcement.
Northern Ireland is considering measures to curb obesity by restricting where unhealthy foods are placed in shops and online, mirroring policies in England and Wales. The Department of Health and the FSA have launched a consultation, arguing that price, placement and marketing influence purchases and contribute to obesity. Critics warn about effects on low-income families.
The FDA has moved to close the GRAS loophole by requiring safety data for new ingredients and creating a public inventory. A parallel step defines ultraprocessed foods to help future regulation. Officials say the measures increase transparency but are not expected to alter consumer diets immediately.
Presley Gerber, son of Cindy Crawford and Rande Gerber, has died at a rehab facility in Los Angeles. An autopsy has been performed but the cause of death has not yet been disclosed. Family requests privacy as they mourn his passing; he had spoken publicly about mental health and addiction struggles.
Lilly has reported growth in the oral GLP-1 pill market and expansion plans, with one-third of new oral-GLP-1 patients on Foundayo. The company is also building a new manufacturing facility in Houston and reiterating its commitment to meeting rising demand as Medicare coverage broadens access to obesity drugs.
Tesla has officially opened high-volume production of the Semi in Sparks, Nevada, with a plan to build up to 50,000 trucks a year. The event showcases new design changes, a charging network, and cost considerations as diesel prices rise and fleets eye emissions reductions. CEO Elon Musk is attending a state dinner abroad, while executives highlight lowered battery weight and improved efficiency.