jittawit.21 Rising fuel costs are putting a worse-than-expected strain on the U.S. consumer, a reality highlighted in PepsiCo's ( PEP ) second-quarter earnings call, as the snack and beverage giant observed noticeable shifts in domestic spending behavior. During Thursday's Q2 earnings call , PepsiCo ( PEP ) CEO Ramon Laguarta stated, "the consumer is worse than what we had anticipated, and it's dr...
jittawit.21 Rising fuel costs are putting a worse-than-expected strain on the U.S. consumer, a reality highlighted in PepsiCo's ( PEP ) second-quarter earnings call, as the snack and beverage giant observed noticeable shifts in domestic spending behavior. During Thursday's Q2 earnings call , PepsiCo ( PEP ) CEO Ramon Laguarta stated, "the consumer is worse than what we had anticipated, and it's driven mainly by gas ( UNG ) ( BOIL ) prices". He noted that shoppers are pulling back more than expected at convenience stores and other locations critical for impulse purchases, entirely due to these elevated fuel costs. This corporate commentary mirrors recent macroeconomic data highlighted by Schwab's Kevin Gordon. As of May, U.S. gasoline and energy spending as a percentage of consumption jumped to 2.51%. While this overall share remains relatively low relative to history, the rolling three-month increase spiked by 0.5 percentage points, representing the sharpest such acceleration since 2009. This pressure on consumer wallets comes as U.S. gas prices have surged above $4 per gallon, driven by the ongoing conflict in Iran. As fuel continues to consume a larger slice of household income, companies relying on discretionary, on-the-go purchasing may continue to face headwinds. Kevin Gordon More on Pepsico, United States Natural Gas Fund LP ETF, etc. PepsiCo Q2: Why The Dividend Story Is Still Intact Greg Sharenow On Structural Changes In The Commodity Complex PepsiCo, Inc. (PEP) Q2 2026 Earnings Call Transcript PepsiCo's international demand makes up for pressured U.S. consumer Pepsico Non-GAAP EPS of $2.20 misses by $0.01, revenue of $24.18B beats by $230M
Former Federal Reserve Chairman Ben Bernanke has been appointed to Anthropic’s long-term benefit trust, an oversight body meant to keep the artificial intelligence company accountable to its public mission. Ed Ludlow reports. (Source: Bloomberg)
Former Federal Reserve Chairman Ben Bernanke has been appointed to Anthropic’s long-term benefit trust, an oversight body meant to keep the artificial intelligence company accountable to its public mission. Ed Ludlow reports. (Source: Bloomberg)
Veteran energy analyst Paul Sankey, president of Sankey Research, said in a July 9, 2026, CNBC interview that he believes crude oil is no longer the biggest constraint on the energy system. Instead, the real bottleneck sits in U.S. refining capacity, where limited supply continues to keep gasoline prices elevated even as crude prices remain well below ... Veteran Energy Analyst: “Crude Oil Is Not ...
Veteran energy analyst Paul Sankey, president of Sankey Research, said in a July 9, 2026, CNBC interview that he believes crude oil is no longer the biggest constraint on the energy system. Instead, the real bottleneck sits in U.S. refining capacity, where limited supply continues to keep gasoline prices elevated even as crude prices remain well below ... Veteran Energy Analyst: “Crude Oil Is Not the Problem.” Here’s What’s Keeping Gas Prices High.
Artificial intelligence may be the biggest technology race in the world, but SandboxAQ CEO Jack Hidary believes the United States is still investing with the wrong playbook. Speaking on CNBC on Thursday, July 9, Hidary argued that America should treat strategic technologies the way countries like Norway manage national wealth by making long-term investments in ... SandboxAQ CEO: “It’s Time That Am...
Artificial intelligence may be the biggest technology race in the world, but SandboxAQ CEO Jack Hidary believes the United States is still investing with the wrong playbook. Speaking on CNBC on Thursday, July 9, Hidary argued that America should treat strategic technologies the way countries like Norway manage national wealth by making long-term investments in ... SandboxAQ CEO: “It’s Time That America Really Has a Sovereign Wealth Fund.” Why America Should Copy Norway’s $2 Trillion Fund
The memo from the Smithsonian's secretary, Lonnie Bunch, responded to a White House report that calls the National Museum of American History driven by "a radical, activist ideology." (Image credit: J. Scott Applewhite)
The memo from the Smithsonian's secretary, Lonnie Bunch, responded to a White House report that calls the National Museum of American History driven by "a radical, activist ideology." (Image credit: J. Scott Applewhite)
A number of stocks jumped in the afternoon session after semiconductor stocks rebounded amid dip buying following a recent selloff, as reports revealed that China may ease restrictions on advanced Nvidia AI chip imports.
A number of stocks jumped in the afternoon session after semiconductor stocks rebounded amid dip buying following a recent selloff, as reports revealed that China may ease restrictions on advanced Nvidia AI chip imports.
Instacart (NASDAQ:CART) is seeing early signs that price parity, in which grocers charge the same prices online as in-store, could become a meaningful growth lever, according to a new Jefferies survey of US grocery delivery users. The firm reiterated its Buy rating on the stock and raised its...
Instacart (NASDAQ:CART) is seeing early signs that price parity, in which grocers charge the same prices online as in-store, could become a meaningful growth lever, according to a new Jefferies survey of US grocery delivery users. The firm reiterated its Buy rating on the stock and raised its...
Zachary Griffiths, head of US IG & macro strategy at CreditSights, joins Katie Greifeld on "Bloomberg Real Yield." Amazon borrowed $25 billion in an eight-part offering that garnered about $62 billion in peak investor demand, about half the orders it attracted for its prior $37 billion deal in March. The offering is heaping pressure on the broader tech space, with the sector among the worst perfor...
Zachary Griffiths, head of US IG & macro strategy at CreditSights, joins Katie Greifeld on "Bloomberg Real Yield." Amazon borrowed $25 billion in an eight-part offering that garnered about $62 billion in peak investor demand, about half the orders it attracted for its prior $37 billion deal in March. The offering is heaping pressure on the broader tech space, with the sector among the worst performers in the US high-grade secondary market. (Source: Bloomberg)
Jeff Bezos spent a quarter-century building Blue Origin with his own money. Now, outside investors are finally getting a chance to get a seat at the table. During a recent TBPN discussion, John Coogan broke down Blue Origin’s reported $10 billion fundraising round at a $130 billion valuation, which is the company’s first external capital ... TBPN’s John Coogan: “People Can’t Really Complain.” Here...
Jeff Bezos spent a quarter-century building Blue Origin with his own money. Now, outside investors are finally getting a chance to get a seat at the table. During a recent TBPN discussion, John Coogan broke down Blue Origin’s reported $10 billion fundraising round at a $130 billion valuation, which is the company’s first external capital ... TBPN’s John Coogan: “People Can’t Really Complain.” Here’s Why Blue Origin Is Worth $130 Billion.
Key PointsInvesco Aerospace & Defense ETF carries a lower expense ratio and significantly higher assets under management than ARK Space & Defense Innovation ETF
Key PointsInvesco Aerospace & Defense ETF carries a lower expense ratio and significantly higher assets under management than ARK Space & Defense Innovation ETF
Jack Smith's Team Exposed Classified Materials, Senator Finds Authored by Zachary Stieber via The Epoch Times, Prosecutors with the office of former special counsel Jack Smith left classified materials unsecured and provided materials to at least one person without confirming that person needed to see them, a senator said on July 8. A set of messages from Smith’s team showed that in 2024, the team...
Jack Smith's Team Exposed Classified Materials, Senator Finds Authored by Zachary Stieber via The Epoch Times, Prosecutors with the office of former special counsel Jack Smith left classified materials unsecured and provided materials to at least one person without confirming that person needed to see them, a senator said on July 8. A set of messages from Smith’s team showed that in 2024, the team left a facility designated for the review of sensitive information open overnight, and potentially longer. “Who opened the [facility] yesterday?” one member of the team asked in a message. “No one opened it yesterday because no one closed it the day before,” another member replied. A second set of messages from 2024 outlined how the team provided classified materials to an unidentified person despite not having confirmation that the person needed to see the materials. The incidents took place as Smith’s team, which was part of the Department of Justice (DOJ), was prosecuting then-presidential candidate and former President Donald Trump for allegedly mishandling classified materials during his first term as president. “Talk about the pot calling the kettle black,” Grassley said in a statement. “According to these messages, Biden DOJ personnel may have committed the very offense for which Jack Smith was prosecuting President Trump. These records expose yet another double standard of justice.” Grassley also wrote in a post on X that the messages “indicate hypocritical [and] careless behavior” and “merit further investigation.” He pointed to how some former officials, such as former Secretary of State Hillary Clinton, mishandled classified information but were not charged. Grassley asked Todd Blanche, the acting attorney general, for more records, including whether the facility that was left unlocked contained any material that was part of Smith’s prosecution of Trump, and whether the DOJ investigated Smith’s team for giving classified information without the need-to-know conf...
Linda Noskova defeats Marta Kostyuk in straight sets in the women's singles semi-final, to set up a meeting with Karolina Muchova for the 2026 Wimbledon title.
Linda Noskova defeats Marta Kostyuk in straight sets in the women's singles semi-final, to set up a meeting with Karolina Muchova for the 2026 Wimbledon title.
Volkswagen AG ’s management said it plans to cut the carmaker’s sprawling model lineup by as much as half, a limited savings push after a supervisory board meeting that stopped short of agreeing on deeper workforce reductions. The proposals follow a showdown at Thursday’s supervisory board meeting, where Chief Executive Officer Oliver Blume had planned to push for doubling job cuts to 100,000 and ...
Volkswagen AG ’s management said it plans to cut the carmaker’s sprawling model lineup by as much as half, a limited savings push after a supervisory board meeting that stopped short of agreeing on deeper workforce reductions. The proposals follow a showdown at Thursday’s supervisory board meeting, where Chief Executive Officer Oliver Blume had planned to push for doubling job cuts to 100,000 and closing four plants in Germany. Details of the potential measures had leaked through ahead of the meeting, irking VW’s powerful labor representatives. VW’s ongoing efforts to cut jobs and capacity weren’t enough “in the current economic and political environment,” Chief Financial Officer Arno Antlitz said late Thursday in a statement. The decision follows weeks of tension with labor leaders and politicians over proposals to eliminate more jobs, shutter sites and carve out the VW brand, according to people familiar with the discussions. Early indications from the labor side, which holds half the supervisory board seats, didn’t indicate any easing in the impasse. “Enough is enough, this is the last straw,” said Daniela Cavallo , the top labor representative, said in statement, delivering an ultimatum for Blume to address workers by Friday or face extraordinary works meetings across Volkswagen after the summer break. Volkswagen’s 2024 pact with workers already calls for more than 35,000 reductions at the VW brand in Germany by 2030, but management has argued that worsening conditions in China, Europe and the US mean those savings are no longer enough. Any restructuring at Volkswagen is difficult because of the company’s complex governance, where labor representatives hold half the seats on the supervisory board and the state of Lower Saxony has significant influence.