Coca-Cola has laid out plans to launch a product made with US cane sugar this year, days after Donald Trump claimed the company had agreed to replace high-fructose corn syrup. The announcement came Tuesday in Coca-Cola's earnings report. It confirmed a 16 July post on Trump's Truth Social platform in which the president said Coca-Cola "agreed" to use "REAL Cane Sugar in Coke in the United States". "This will be a very good move by them – You'll see," Trump's post said. "It's just better!" The drink maker's ...

Core Viewpoint - Chevron has successfully completed its $55 billion acquisition of Hess, gaining access to a significant oil discovery in the Stabroek Block off the coast of Guyana, following a legal victory over Exxon Mobil [1][2]. Group 1: Acquisition Details - The acquisition is one of the largest energy deals in the past decade, aimed at improving Chevron's performance [2]. - The Stabroek Block is estimated to hold over 11 billion barrels of oil, making it one of the fastest-growing oil provinces globally [2]. Group 2: Legal Context - Exxon and CNOOC, Hess's partners in Guyana, had previously filed arbitration disputes claiming pre-emptive rights to purchase Hess's stake, which delayed the acquisition for over a year [3]. - The International Chamber of Commerce (ICC) ruled against Exxon and CNOOC, with no appeals process available [4]. Group 3: Integration Plans - Chevron was preparing for the integration of Hess even while awaiting the arbitration verdict, with IT teams from both companies meeting regularly [5]. - Employees of Hess were informed about the option to request severance packages post-acquisition [5]. Group 4: Market Reaction - Following the news of the acquisition, shares of both Chevron and Exxon experienced a slight decline in morning trading [6].

Core Points - Meta Platforms and its current and former directors, including Mark Zuckerberg, have agreed to settle claims seeking $8 billion for alleged damages related to privacy violations [1][3] - The settlement details were not disclosed, and the trial was adjourned before entering its second day [2] - Shareholders aimed to hold the defendants liable for fines and legal costs incurred by the company, including a $5 billion FTC fine in 2019 for failing to protect user data [3][4] Group 1 - The lawsuit involved allegations that Meta's board members failed to oversee compliance with a 2012 FTC agreement and that Zuckerberg and Sandberg operated Facebook as an illegal data harvesting entity [7] - The case was linked to the Cambridge Analytica scandal, which highlighted significant data privacy issues and led to the record FTC fine [7][10] - An expert witness testified about weaknesses in Facebook's privacy policies, although he did not confirm any violations of the 2012 agreement [8] Group 2 - The trial was expected to include testimonies from notable figures, including former board members Peter Thiel and Reed Hastings [6] - The settlement has been criticized for lacking public accountability, as it prevents a thorough examination of the company's practices [5][12] - Meta has claimed to have invested billions into user privacy protections since the FTC fine in 2019 [10]

Core Points - An $8 billion trial against Meta Platforms shareholders has commenced, focusing on allegations that the company illegally harvested Facebook user data, violating a 2012 agreement with the FTC [1][5] - The trial features testimony from key figures including Mark Zuckerberg, Sheryl Sandberg, and other board members, with the plaintiffs claiming misleading privacy disclosures [2][3] - The case stems from the Cambridge Analytica scandal, which led to a $5 billion FTC fine against Facebook for data protection violations [4][5] Group 1: Trial Details - The trial is presided over by Chief Judge Kathaleen McCormick in a non-jury setting, with significant testimonies expected from high-profile defendants [2][3] - The plaintiffs are seeking reimbursement for the FTC fine and other legal costs, estimated to exceed $8 billion [5] - The defendants have characterized the allegations as "extreme" and assert that Facebook took measures to comply with the FTC agreement [6][7] Group 2: Legal Context - This lawsuit is notable as it is the first of its kind to go to trial, alleging that board members failed to oversee their company effectively [7] - Known as a Caremark claim, such lawsuits are challenging to prove under Delaware corporate law, although recent trends show an increase in these claims being allowed to proceed [8] - The trial follows recent changes in Delaware corporate law aimed at making it more difficult for shareholders to challenge deals with controlling shareholders [9][10] Group 3: Additional Allegations - Plaintiffs also allege that Zuckerberg sold Facebook shares anticipating a decline in stock value due to the Cambridge Analytica scandal, profiting at least $1 billion [12] - Defendants plan to present evidence that Zuckerberg did not engage in insider trading and followed a stock-trading plan designed to prevent such actions [12]

Core Insights - Nvidia has become the first public company to reach a $4 trillion market value, driven by a significant rise in demand for artificial intelligence technologies [1] - The company's market value has more than tripled in about a year, surpassing both Apple and Microsoft in growth rate [2] - Nvidia's market value represents approximately 7.3% of the S&P 500 index, highlighting its substantial impact on the market [3] Company Performance - Nvidia's stock price increased by approximately 2.4% to $164, reflecting ongoing investor confidence [1] - The company rebounded about 74% from its April lows, indicating a strong recovery despite challenges such as US export controls on advanced chips to China [3] Market Context - The S&P 500 has reached an all-time high, influenced by optimism around trade agreements and the performance of tech stocks [4] - Analysts predict that other tech giants, including Microsoft, will soon join Nvidia in the $4 trillion market valuation club, emphasizing the ongoing AI revolution [4][5]

Group 1 - Tesla shares are experiencing a significant decline, with a drop of over 7% in pre-market trading, potentially reducing the company's value by approximately $70 billion [1] - If the shares fall as projected, Elon Musk's personal wealth could decrease by more than $9 billion, bringing his net worth to about $120 billion, while Tesla's market valuation is just under $1 trillion [2] - The decline in Tesla's stock is attributed to Musk's political activities and his relationship with Donald Trump, which has created consumer backlash and investor concerns about Musk's focus on the company [3][4] Group 2 - Analysts express alarm over Musk's announcement of forming a new political party, suggesting it diverts attention from Tesla's business during a critical period [3][4] - Trump's criticism of Musk's political ambitions, labeling them as "ridiculous," adds to the negative sentiment surrounding Tesla's stock performance [5][6] - Musk's statement about the formation of the America party indicates a shift towards political engagement, which may further concern Tesla investors about his commitment to the company [6]

Core Viewpoint - Tesla is experiencing a significant decline in quarterly deliveries, indicating a potential second consecutive annual sales decline due to waning demand linked to CEO Elon Musk's political stance and an aging vehicle lineup [1]. Delivery Performance - Tesla delivered 384,122 vehicles in Q2, a decrease of 13.5% from 443,956 units in the same quarter last year [2]. - Analysts had anticipated deliveries of approximately 394,378 vehicles, with some estimates dropping as low as 360,080 units [2]. Market Reaction - The market's response to Tesla's delivery figures was somewhat positive, as analysts had recently lowered their forecasts, suggesting that the results were not as poor as initially feared [3]. Stock Performance - Tesla's stock has declined by 25% this year, primarily due to concerns over brand damage in Europe and the U.S. linked to Musk's political affiliations [4]. - Following a public split between Musk and Trump in early June, Tesla lost around $150 billion in market value, although the share price has seen some recovery since then [4]. Product Strategy - Despite Musk's earlier claims of a sales turnaround, Tesla's delivery drop occurs in a growing global EV market [5]. - The company updated its best-selling Model Y crossover, which temporarily halted production and led to some buyers delaying purchases [5]. Revenue and Valuation - Tesla's revenue and profit are heavily reliant on its core EV business, with much of its valuation tied to Musk's ambitions of transforming its vehicles into robotaxis [6]. Robotaxi Initiative - Tesla launched a limited robotaxi service in Austin, Texas, with restrictions and only a small number of vehicles on the road [7]. - The U.S. National Highway and Transportation Safety Administration has initiated an investigation into this autonomous ride service launch [7]. Future Sales Expectations - Tesla plans to produce a more affordable vehicle, likely a pared-down Model Y, by the end of June [8]. - Analysts predict a second consecutive annual sales decline for Tesla this year, with the company needing to deliver over a million units in the second half to meet Musk's growth targets, which is considered a challenging goal [8].

Core Viewpoint - Google has significantly increased its carbon emissions since setting a goal for net-zero emissions by 2030, contradicting its sustainability claims [1][2][3] Emission Data - Google's carbon emissions reportedly increased by 65% from 2019 to 2024, contrary to the company's claim of a 51% increase [2] - Total greenhouse gas emissions rose by 1,515% from 2010 to 2024, with a notable 26% increase from 2023 to 2024 [2][8] - The increase in emissions from data centers alone was 121% between 2019 and 2024, with total energy consumption rising by 1,282% since 2010 [6][16] Methodology Discrepancies - The report highlights discrepancies in emission calculations, with Google using market-based emissions while researchers used location-based emissions, which reflect actual grid emissions [5][6] - The report criticizes Google's presentation of data, arguing that focusing on energy efficiency metrics obscures the total emissions figures [16] Water Usage - Google's water withdrawal increased by 27% from 2023 to 2024, amounting to 11 billion gallons, enough to supply 2.5 million people for 55 days [10][11] Industry Pressure - Tech companies, including Google, face increasing pressure to utilize clean energy for their data centers, with public calls for commitments to avoid new gas and delayed coal plant retirements [12] Future Projections - The Kairos report suggests that Google is unlikely to meet its 2030 emissions reduction goal without significant public pressure, as it has only reduced Scope 1 emissions, which account for a mere 0.31% of total emissions [8][14] - The report expresses concern over Google's reliance on speculative technologies, particularly nuclear power, to achieve its sustainability goals [14][15]

Core Viewpoint - Meta has received a favorable ruling in a copyright lawsuit regarding the use of authors' works to train its AI system, marking a significant legal victory for the US AI industry this week [1][2]. Group 1: Legal Rulings and Implications - The US district judge Vince Chhabria ruled that the authors did not provide sufficient evidence to prove that Meta's AI usage would harm the market for their works, thus not violating US copyright law [2][4]. - Chhabria noted that while the ruling does not imply that Meta's use of copyrighted materials is lawful, it indicates that the plaintiffs failed to present a strong case [4]. - The ruling contrasts with a separate case involving Anthropic, where another judge found that its AI training constituted "fair use" of copyrighted materials [3][9]. Group 2: Industry Context and Reactions - The lawsuit is part of a broader trend where writers and copyright owners are challenging AI companies like OpenAI and Microsoft over copyright issues related to AI training [9]. - AI companies argue that their systems utilize copyrighted material in a transformative manner, which they claim is protected under fair use, while copyright owners contend that this practice threatens their livelihoods [10][11]. - Chhabria expressed concerns that generative AI could inundate the market with content, undermining the incentive for traditional creative processes [10][11].

Core Viewpoint - The UK Competition and Market Authority (CMA) is proposing to impose stricter regulations on Google, potentially requiring the company to offer users options for alternative search services and enhance transparency in its operations [1][2][3]. Group 1: Regulatory Actions - The CMA is considering designating Google with "strategic market status," which would grant the authority additional powers to regulate the company due to its significant market presence [1][2]. - Proposed regulatory measures include implementing "choice screens" for users to switch between search services, ensuring fair ranking of search results, and providing publishers with more control over their content, especially in AI-generated responses [2][4]. Group 2: Implications and Timeline - If confirmed in October, Google will be the first company to receive this designation since the CMA acquired new regulatory powers earlier this year [3]. - The CMA plans to address more complex issues related to Google's operations starting in 2026, focusing on the treatment of rival specialized search firms and enhancing transparency in search advertising [4]. Group 3: Company Response - Google has expressed concerns regarding the CMA's broad and unfocused scope of considerations, indicating that the proposed interventions may have significant implications for UK businesses and consumers [6].