Court Strikes Trump Tariffs, Kraft Heinz Breaks Up, and Spirit Airlines Collapses Again
In today’s episode, a federal appeals court struck down most of President Trump’s tariffs as illegal, throwing his signature trade policy into uncertainty ahead of an October Supreme Court appeal. Kraft Heinz announced it will split into two companies by 2026, reversing its troubled 2015 mega-merger. Spirit Airlines filed for bankruptcy for the second time in under a year, slashing its fleet and operations after a failed turnaround. The AI rally expanded beyond Nvidia as companies like MongoDB, Pure Storage, and Snowflake saw big stock gains tied to AI adoption. Nestlé fired its CEO after an internal investigation into a relationship with a subordinate, marking another corporate governance shakeup. The Atlanta Journal-Constitution will end its print edition after 157 years as it cuts jobs and shifts fully digital. Activist investor Elliott disclosed a $4 billion stake in PepsiCo, signaling pressure for major changes at the struggling food and beverage giant. And Cadillac’s EV strategy is paying off with market share gains, but looming tariffs and the loss of EV tax credits may test its ability to sustain momentum.
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