Core Points - Kraft Heinz Co. announced that Steve Cahillane, former CEO of Kellanova, will become the new CEO effective January 1, succeeding Carlos Abrams-Rivera, who will remain as an advisor until March to ensure a smooth transition [1][4][9] - The company plans to split into two independent publicly traded entities, with Cahillane leading the Global Taste Elevation business, which will manage brands such as Heinz, Philadelphia, and Kraft Mac & Cheese [2][5] - The separation is projected to occur in the second half of 2026, aiming to create more focused organizations that can enhance brand management and profitability [4][5] Leadership Transition - Steve Cahillane's appointment is seen as a strategic move to leverage his experience, having successfully led Kellogg through a similar separation and brand expansion [9][10] - Carlos Abrams-Rivera will assist in the transition, ensuring continuity in leadership during this critical period [1] Business Strategy - The split will result in two distinct companies: Global Taste Elevation and North American Grocery, the latter overseeing brands like Oscar Mayer and Kraft Singles [5] - The goal of the separation is to reduce complexity and enhance the ability of each entity to compete effectively in the market [4][7]

Treasury Secretary Scott Bessent said Tuesday that two major decisions – the Supreme Court ruling on tariffs and the selection of a new Federal Reserve chair – will come in January. Bessent told FOX Business Network's Maria Bartiromo that while the administration has "plenty of revenue alternatives," he would like to see the Supreme Court rule in favor of President Donald Trump's trade policy."Economic security is national security. So this ruling is really a national security ruling and if they rule agains ...

The U.S. economy added jobs in November as economic uncertainty continued to dampen activity in the labor market. The Labor Department on Tuesday reported that employers added 64,000 jobs in November, a figure that was above the 50,000 estimate of economists polled by LSEG.The unemployment rate ticked higher to 4.6% for November, which was higher than the 4.4% rate expected by economists. Job gains in the two prior months in which the employment report was released were both revised down. Employment in Augu ...

Core Viewpoint - President Trump is considering reclassifying marijuana from a Schedule I to a Schedule III drug, which could significantly impact the cannabis industry and research opportunities [1][6][10]. Industry Impact - Reclassifying marijuana as a Schedule III drug would ease the buying and selling of cannabis, potentially increasing profitability for the cannabis industry [6][7]. - The reclassification would lower barriers to research, allowing for more extensive studies on marijuana [2][6]. - Cannabis stocks surged following reports of Trump's consideration to ease federal restrictions on marijuana [9][12]. Legislative Context - The Biden administration had previously pursued reclassification but did not implement changes before Trump left office [15]. - Various bills have been introduced in Congress to lower marijuana's classification or decriminalize it, but none have been signed into law [15]. Public Sentiment and Political Commentary - Senator Ron Wyden criticized Trump for misleading the public regarding the legality of marijuana, emphasizing that reclassification does not equate to decriminalization [10][11].

Federal Reserve Chair Jerome Powell outlined how the central bank is viewing the labor market after it cut interest rates last week for the third straight time, with a fresh jobs report due out on Tuesday. Powell spoke at a press conference after Federal Reserve policymakers voted to lower the benchmark federal funds rate by 25 basis points to a range of 3.5% to 3.75%, amid signs of a weakening labor market and emerging risks to the half of the Fed's dual mandate that focuses on promoting maximum employment ...

Traders on the prediction market platform Kalshi place the odds of President Donald Trump selecting Kevin Warsh to succeed Federal Reserve Chairman Jerome Powell at 42%, a 27 percentage point increase this week. Kevin Hassett remains the frontrunner to lead the world’s most powerful central bank, holding a 50% chance despite a 20-point drop.The trading volume, or the total dollar amount wagered on this market, is a little over $10.2 million. TRUMP SAYS HE’S CHOSEN NEXT FED CHAIR AS AFFORDABILITY PRESSURES R ...

Group 1 - Federal Reserve Chairman Jerome Powell aims to leave the economy in good shape before his term ends in May 2026, focusing on controlling inflation and maintaining a strong labor market [1][2][4] - Powell has not indicated whether he will remain on the Federal Reserve Board of Governors after his term, emphasizing his focus on his current responsibilities [4] - The question of succession is significant as President Trump considers potential candidates for the next Fed chair, with Kevin Warsh and Kevin Hassett being the leading options [6][8] Group 2 - Trump expressed his desire for the next Fed chair to be honest about interest rates, stating that the U.S. should have the lowest rates in the world [8]

Core Viewpoint - Paramount and Netflix are both pursuing the acquisition of Warner Bros. Discovery, but they are likely to encounter significant antitrust challenges that may require adjustments to their plans to satisfy regulatory bodies [1][3]. Acquisition Details - Warner Bros. Discovery has agreed to sell its film and television studios and HBO Max to Netflix in a cash-and-stock deal valued at $27.75 per share [2]. - Paramount has made an all-cash tender offer to acquire Warner Bros. Discovery for $30.00 per share, claiming it to be a "superior" offer [2]. Antitrust Considerations - Scott Wagner, an antitrust expert, indicates that both Paramount and Netflix will face considerable regulatory scrutiny due to their market shares in the streaming sector [3][5]. - Paramount's acquisition would include the entirety of Warner Bros. Discovery, including CNN and other cable assets, while Netflix is only interested in the studio and streaming divisions [5]. Market Share Implications - Paramount's control over both CBS News and CNN would significantly enhance its position in traditional media, although newer media outlets may also be considered in market evaluations [6]. - Wagner suggests that the relevant market for antitrust considerations may extend beyond legacy media to include broader media platforms [9]. Regulatory Approval Timeline - The approval process for such a merger typically takes one to two years, followed by an additional period to finalize the deal if approved [14]. - Regulatory scrutiny will not be limited to the U.S.; the EU and other jurisdictions will also evaluate the acquisition, potentially requiring changes or divestitures [15].

President Donald Trump said Friday that he is focusing on two candidates to chair the Federal Reserve next year, with former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett the leading contenders. Trump was interviewed by The Wall Street Journal and said that Warsh is at the top of the list, adding that he and Hassett are at the forefront of the decision."Yes, I think he is. I think you have Kevin and Kevin. They're both – I think the two Kevins are great," Trump said. "I think ...

President Donald Trump is touting improvements in mortgage costs since he took office as he looks to address Americans' concerns about affordability amid persistent inflation in the economy. Trump spoke at a rally in Pennsylvania on Monday and blamed the Biden administration for high housing costs, saying that "America is winning again" because of his policies. The president also displayed a chart showing that annual total mortgage payments increased over $14,600 during former President Joe Biden's term, wh ...