Business News

Suntory CEO resigns after purchase of potentially illegal supplements

September 02, 2025

Suntory Holdings CEO Takeshi Niinami resigned after a police investigation into his purchase of a supplement that may be illegal in Japan. The supplement is believed to contain THC, a psychoactive component of cannabis, which is against Japanese law. Niinami claimed he thought the supplement was legal at the time of purchase.

Key Facts:

Takeshi Niinami resigned as CEO of Suntory Holdings after a police probe.
The investigation concerns his purchase of a potentially illegal supplement with THC.
Niinami asserted he believed the supplement was legal.
THC, a component of cannabis, is illegal in Japan but CBD is not.
Nobuhiro Torii, related to Suntory's founder, will now lead the company.
Niinami was questioned, and his home was searched, but no illegal drug use was confirmed.
Niinami expanded Suntory's business significantly since joining in 2014.
He remains chairman of the Keizai Doyukai business lobby.

Source Information

Al Jazeera

Trump and sons' stake in crypto firm worth $5bn

September 02, 2025

Donald Trump and his sons have a major stake in a cryptocurrency firm called World Liberty Financial, valued at $5 billion. The company raised funds by selling digital tokens and recently started trading publicly. There are ongoing discussions about potential conflicts of interest given Trump's regulatory role.

Key Facts:

The cryptocurrency firm founded by Trump and his sons is called World Liberty Financial.
The Trumps own nearly a quarter of the firm's 100 billion WLFI coins, valued at about $5 billion.
Trump himself owns around 15.75 billion WLFI tokens worth about $3.4 billion.
The company initially restricted investors from selling their tokens but allowed partial sales starting in July.
The WLFI token began public trading, dropping 50% in value but still offering early buyers profits.
The firm partnered with another company that invested $750 million, functioning as both buyer and seller of WLFI tokens.
There are concerns from Democrats about potential conflicts of interest and corruption related to Trump's involvement in the cryptocurrency market.
The Trump administration claims its policies foster innovation and dismisses allegations of conflicts of interest.

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BBC US

Vogue’s Wintour taps successor to lead editorial at the iconic magazine

September 02, 2025

Vogue has appointed Chloe Malle as the new head of editorial content, succeeding Anna Wintour, who held the position for nearly 40 years. Malle, who has worked at Vogue since 2011, will manage the day-to-day operations of the U.S. edition while still reporting to Wintour. Anna Wintour will remain with Conde Nast as the chief content officer and global editorial director of American Vogue.

Key Facts:

Chloe Malle is named the new head of editorial content at Vogue.
Anna Wintour steps down after nearly 40 years but stays with Conde Nast in high-level roles.
Malle has over a decade of experience at Vogue, including roles as social editor and editor of Vogue.com.
Malle's leadership at Vogue.com doubled direct traffic and increased site growth metrics.
The appointment comes before New York Fashion Week and the Venice Film Festival.
Malle is the daughter of actress Candice Bergen and filmmaker Louis Malle.
Under Wintour, Vogue expanded its international editions and mixed high fashion with pop culture.
Vogue was originally a society journal, acquired by Conde Nast in 1909.

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Al Jazeera

Exclusive: Disney will pay $10M to settle children's privacy lawsuit with FTC

September 02, 2025

Disney has agreed to pay $10 million to settle a lawsuit with the Federal Trade Commission (FTC) over improperly designated children's content on YouTube. The FTC claimed Disney violated the Children's Online Privacy Protection Act (COPPA) by not labeling some videos for children, which led to data being collected from viewers without parental consent. Disney will implement measures to ensure proper labeling of children's content moving forward.

Key Facts:

Disney agreed to a $10 million settlement with the FTC over a children's privacy lawsuit.
The issue involved videos on YouTube not marked as children-targeted, which led to improper data collection.
The FTC alleges this violated the 1998 Children's Online Privacy Protection Act (COPPA).
The content mostly consisted of storytime videos featuring celebrities reading to children during the COVID-19 pandemic.
The FTC began its investigation during the Biden administration.
Disney will create an "Audience Designation" program to better review and categorize videos.
The settlement does not involve Disney-owned platforms, only content distributed on YouTube.
The settlement is part of broader FTC efforts to enforce children's privacy rules online.

Source Information

Axios

In a major antitrust ruling, a judge lets Google keep Chrome but levies other penalties

September 02, 2025

A U.S. judge ruled that Google does not need to sell its Chrome browser but must stop exclusive deals that make Google the default search engine on devices. Google has to share some search data with third parties and an oversight committee will monitor compliance for six years. The ruling is part of an antitrust case against Google filed by the Justice Department in 2020.

Key Facts:

Google can keep Chrome browser but must stop exclusive default search engine deals.
Google has to share certain search data with third parties.
A committee will monitor Google's compliance for six years.
The U.S. Justice Department filed an antitrust suit against Google in 2020.
Judge Amit Mehta ruled that Google has an illegal monopoly in the search market.
The Justice Department suggested more severe actions like selling Chrome.
Google opposed the sale of Chrome, saying it would harm competition.
Google's Chrome is significant because it contributes to 40% of U.S. search volume.

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NPR Home

Trump's tariffs are in limbo. So what now? How 3 businesses are adjusting — again

September 02, 2025

A federal court ruled that many tariffs put in place by former President Trump are illegal, but the tariffs still remain while the case might go to the Supreme Court. This situation leaves U.S. businesses uncertain about their costs, impacting their planning and pricing strategies.

Key Facts:

A U.S. federal appeals court ruled that many of Trump's tariffs are illegal.
The tariffs apply to nearly all goods that the U.S. imports and range from 10% to 50%.
The tariffs remain in place pending a likely Supreme Court decision.
Businesses are uncertain about future costs due to the tariff situation.
BAYDOG, a company selling dog adventure gear, must order goods from Asia without knowing future tariff costs.
Silva, a board game company owner, considers moving production to Vietnam or Brazil to avoid tariffs.
Businesses are forced to adjust prices and strategies due to the tariff uncertainty.

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NPR Business

How three businesses are coping with tariff limbo

September 02, 2025

Three businesses in the U.S. are dealing with uncertainty because of changing import taxes, known as tariffs. Although a court has canceled most of these taxes, they are still being collected until the Supreme Court makes a final decision.

Key Facts:

U.S. importers are affected by current import taxes, also called tariffs.
A federal appeals court recently canceled many of these tariffs.
Despite the court's decision, the tariffs are still being collected for now.
The final decision on these tariffs will come from the Supreme Court.
This situation causes uncertainty for businesses that rely on imports.

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NPR Home

Electric vehicle sales increase as federal tax credits for them come to an end

September 02, 2025

Sales of electric vehicles are rising as a federal tax break for these cars is ending soon. This upcoming deadline has caused a rush in buying and confusion for car sellers.

Key Facts:

The federal tax credit for electric vehicles is ending at the end of the month.
Electric vehicle sales have increased as the expiration date approaches.
Auto dealers are experiencing a rush in demand due to the tax credits ending.
The federal tax credit helped reduce the price of electric vehicles for buyers.
The end of the tax credits may affect future electric vehicle sales.
Some dealerships face challenges in managing the increased customer interest.

Source Information

NPR Business

Kraft Heinz to split into two companies as financial struggles mount

September 02, 2025

Kraft Heinz plans to divide into two separate companies, one focusing on groceries and the other on sauces and spreads, to address financial challenges. The breakup is expected to happen in the second half of 2026. This move follows a trend among large consumer brands shifting away from the conglomerate model due to slow sales and low stock values.

Key Facts:

Kraft Heinz will split into two companies, targeting groceries and sauces/spreads, respectively.
The split is expected to be completed in the latter half of 2026.
The companies will be temporarily named Global Taste Elevation Co and North American Grocery Co.
Wall Street had anticipated this breakup as a strategy to increase shareholder value.
Share prices of Kraft Heinz have dropped about 60% since their 2015 merger.
The company has attempted to focus on high-growth brands, selling its Planters nut and natural cheese businesses in 2021.
The split is estimated to cost up to $300 million, though Kraft Heinz plans to minimize these costs.
The current Kraft Heinz CEO, Carlos Abrams-Rivera, will lead the grocery unit.

Source Information

Al Jazeera

Sting sued by ex-Police bandmates over royalties

September 02, 2025

Former members of The Police, Andy Summers and Stewart Copeland, have filed a lawsuit against Sting over unpaid royalties from their time in the band. The dispute is about whether they deserve a share of both performance and mechanical royalties for songs recorded between 1977 and 1984. Sting denies underpaying his bandmates, and the case is currently in court.

Key Facts:

Andy Summers and Stewart Copeland have sued Sting over unpaid royalties from The Police's music.
The lawsuit involves songs created between 1977 and 1984, including hits like "Roxanne" and "Every Breath You Take."
Summers and Copeland claim there was an oral agreement in 1977 to share income, later formalized in written contracts.
Sting's lawyer states the lawsuit's claims are not valid and denies underpayment.
The dispute centers around whether Summers and Copeland should receive both performance and mechanical royalties.
Sting argues the agreement only covers mechanical royalties.
Summers and Copeland allege they have lost about £1,750,000 in royalties.
The band's agreements were revised in 1981, 1995, and 2016, with the current legal debate focusing on the 2016 terms.

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BBC Top Stories

Trade is the new fiscal risk

September 02, 2025

A court ruled that President Trump exceeded his authority by imposing certain tariffs, calling them illegal but allowing them to stay temporarily while appeals are filed. These tariffs have been collecting significant revenue, which has positively impacted the U.S. fiscal outlook by reducing deficits. If the tariffs are rolled back, it could affect the economy and financial markets, leading to higher interest rates.

Key Facts:

A court ruled that President Trump exceeded his authority with some tariffs.
The tariffs will remain temporarily while the government appeals.
The tariffs cover 70% of imports, over $2 trillion worth of goods.
The tariffs have helped reduce the U.S. deficit by generating significant revenue.
The government collected $135 billion in tariffs by July, up from $63 billion in the same period last year.
The Congressional Budget Office estimates the tariffs could lower deficits by $4 trillion over ten years.
Bond markets reacted to the ruling by adjusting long-term interest rates upward.
The Trump administration plans to appeal to the Supreme Court.

Source Information

Axios

Nestle CEO fired over undisclosed affair

September 02, 2025

Nestle's CEO, Laurent Freixe, was fired after a year in the position due to an undisclosed romantic relationship with a subordinate, which broke the company's rules. Philipp Navratil from Nespresso has been appointed as the new CEO at a time when Nestle is facing challenges like slow sales and U.S. tariffs. This leadership change is part of a larger management shake-up at the company, including the upcoming change in the chairman position.

Key Facts:

Laurent Freixe was dismissed as Nestle CEO after being investigated for an undisclosed relationship with a direct subordinate.
Philipp Navratil, formerly head of Nespresso, is the new CEO of Nestle.
The romantic relationship violated Nestle's code of business conduct.
This is the second CEO change at Nestle within a year, following Mark Schneider's departure in August 2024.
Paul Bulcke will step down as chairman in April, to be replaced by Pablo Isla.
Nestle is dealing with challenges such as slow sales and U.S. tariffs.
Shares of Nestle dropped 0.8% following the announcement.
Freixe will not receive an exit package, and his dismissal aligns with a broader trend of executives being removed for personal misconduct.

Source Information

Al Jazeera

Faisal Islam: What's causing the UK's long-term borrowing costs to rise?

September 02, 2025

The UK's long-term borrowing costs have reached a 27-year high, marked by the 30-year gilt yield. This rise is part of a broader trend affecting several European countries and is linked to market demands for long-term government debt and structural changes in pension markets.

Key Facts:

The UK's 30-year gilt yield has reached its highest level in 27 years.
This yield represents the interest rate for 30-year loans taken by the UK government.
Similar trends are seen across other European countries.
The rise may be due to structural changes in pension markets reducing demand for long-term debt.
There are concerns about the UK's economic and political stability, impacting tax and spending plans.
The Bank of England and UK Treasury are both auctioning large amounts of government debt, adding complexity to the market.
The 10-year gilt yield has also risen but remains below previous highs this year.

Source Information

BBC Business

Anna Wintour names her successor at Vogue — but she remains in charge

September 02, 2025

Anna Wintour has named Chloe Malle as her successor for the role of head of editorial content at the U.S. edition of Vogue, while Wintour will still be in charge of global content. Chloe Malle, who joined Vogue in 2011, will oversee the day-to-day operations but will report to Wintour.

Key Facts:

Anna Wintour named Chloe Malle as head of editorial content for Vogue's U.S. edition.
Wintour will remain as the chief content officer for Condé Nast.
Chloe Malle joined Vogue in 2011 and has recently managed all digital content.
The "editor-in-chief" title, held by Wintour for nearly 40 years, has been retired.
Chloe Malle is the daughter of actor Candice Bergen and director Louis Malle.
Malle will manage the U.S. operations but will report to Wintour.
Vogue.com under Malle saw its site traffic double, reaching 14.5 million monthly visitors.
Anna Wintour has led Vogue since 1988, known for expanding its global reach and pop culture influence.

Source Information

PBS NewsHour

How rural hospitals are banding together to survive

September 02, 2025

Rural hospitals in North Dakota are forming a network to share resources and save on costs. This network helps them stay independent and improve patient care without merging with larger hospital systems. The Rough Rider Network is an example where hospitals collaborate to negotiate better deals on medical services.

Key Facts:

Bowman, North Dakota, has about 1,400 residents who rely on Southwest Healthcare Services.
Rural hospitals are joining clinically integrated networks to share resources and remain independent.
The Rough Rider Network includes 22 rural hospitals in North Dakota.
These networks help hospitals get better prices on medical equipment, like mobile MRI units.
Clinically integrated networks aim to improve care quality and patient health outcomes.
Since 2010, 153 rural hospitals in the U.S. have closed or cut services.
A total of 441 rural hospitals merged or were acquired by larger systems between 2011 and 2021.
Networks sometimes share specialists and invest in community resources to improve health access.

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NPR Home

Kraft Heinz will split back into 2 companies a decade after merger

September 02, 2025

Kraft Heinz will split into two separate companies, one focusing on famous brands like Heinz and Kraft Mac & Cheese, and another on brands like Maxwell House and Oscar Mayer. This change is expected to happen in the second half of 2026. The company originally formed through a merger in 2015 but faced challenges due to changing consumer preferences and economic conditions.

Key Facts:

Kraft Heinz plans to split into two companies, called Global Taste Elevation Co. and North American Grocery Co., with official names to be announced later.
The split is expected to complete in the second half of 2026.
This decision follows a strategic review that started in May.
Kraft Heinz originally merged in 2015 to take advantage of its large size.
Changes in consumer tastes and health trends presented challenges for the company.
In 2021, Kraft Heinz sold its Planters nut and natural cheese businesses.
The company has faced declining net sales, with a 3% drop in 2024.
The merger initially created the 5th largest food and beverage company in the world.

Source Information

PBS NewsHour

Vogue promotes Chloe Malle to top editor spot

September 02, 2025

Vogue announced that Chloe Malle is the new head of editorial content for American Vogue, following Anna Wintour's decision to focus on global content. Malle has been with Vogue since 2011 and will report directly to Wintour.

Key Facts:

Chloe Malle is now the top editor for American Vogue.
Anna Wintour, the previous head, will continue to oversee global content.
Malle joined Vogue in 2011 as a social editor.
Malle recently worked as the editor of Vogue's website, improving various key measures of success.
She played a key role in boosting Vogue's wedding coverage.
Malle is the daughter of actress Candice Bergen.
Vogue faces challenges from fashion influencers for audience attention.
Malle aims to engage a more focused and loyal audience for Vogue.

Source Information

NPR Home

Chloe Malle to become top editor at American Vogue

September 02, 2025

Chloe Malle has been announced as the new top editor at American Vogue, replacing Anna Wintour, who has held the position for 37 years. Malle has worked at Vogue for 14 years and will continue to shape the magazine's influence in fashion and culture. Anna Wintour will remain within the parent company, Condé Nast, in a key role overseeing content.

Key Facts:

Chloe Malle will become the top editor at American Vogue.
Anna Wintour is stepping down as editor-in-chief after 37 years.
Malle has worked at Vogue for 14 years, starting as a social editor.
Malle was previously editor of Vogue.com and host of a Vogue podcast.
She has been involved in major projects, like photoshoots and interviews with high-profile figures.
Anna Wintour will continue at Condé Nast as the chief content officer.
The exact timing of Malle's transition into the role has not been announced.

Source Information

BBC World

UK borrowing costs hit 27-year high adding to pressure on Reeves

September 02, 2025

Long-term borrowing costs in the UK have hit their highest level since 1998, increasing pressure on Chancellor Rachel Reeves before the upcoming budget. The interest rate on 30-year government bonds, known as the yield, reached 5.698%, while the British pound fell over 1% against the US dollar.

Key Facts:

UK long-term borrowing costs are at their highest since 1998.
The interest rate on 30-year government bonds rose to 5.698%.
Chancellor Rachel Reeves may face pressure to raise taxes in the upcoming budget.
The British pound fell more than 1% against the US dollar.
Global factors, including US trade policy, have affected government bonds.
The cost of UK government debt has increased due to higher bond yields.
The UK's Office for Budget Responsibility reviews 10-year borrowing costs to ensure fiscal rules are met.

Source Information

BBC Business

Stocks could rally another 50% in two years, BofA says

September 02, 2025

Bank of America suggests the S&P 500, a major stock market index, could increase by over 50% in the next two years. This prediction follows recent market highs and is based on historical data from previous market surges. However, there are risks and uncertainties that could affect this outlook, including high valuations and other market factors.

Key Facts:

Bank of America predicts the S&P 500 could reach 9,914 by September 2027.
The S&P 500 recently crossed 6,500, indicating a potential increase of 52.5%.
Historically, the average gain in a bull market over 100 years was 177% in about five years.
Since October 2022 lows, stocks are up about 80%.
Current S&P 500 price-to-book ratio is 5.3 times, the highest since 1946.
Past performance is not a guarantee of future results, and there are risks like valuations and policy changes.
Investors focus on possible rate cuts, AI developments, and stimulus measures in the future.
Earnings growth in the second quarter of 2023 exceeded expectations.

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Axios

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