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COFFEE
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In a shift, Starbucks starts to cut out the sugar
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Starbucks Corp., which built a loyal following in part by selling sugary candy-colored drinks, has a vision for a healthier menu that's better suited for the MAHA era. It's testing matcha and cold brew made with coconut water. It's exploring syrups sweetened with agave instead of sugar. It's been piloting a protein-infused cold foam and looking into more plant-based products. The moves are meant to draw in the health and wellness crowd, part of a broader menu overhaul designed to bring more traffic to stores and reverse a stubborn sales slump. On Tuesday, the company reported its sixth straight quarter of same-store sales declines and a steeper-than-expected drop in profits. The menu revamp is one element of a turnaround plan put into place by chief executive Brian Niccol that has yet to bear fruit. 'We've been working on sugar reduction,' Dana Pellicano, who leads product development at Starbucks, said in an interview. This week, the Seattle-based chain started testing coconut-water-based beverages at five New York-area stores. The drinks have about a third of the sugar content of a summer-berry lemonade refresher, plus electrolytes. A bigger regional test will soon follow. — BLOOMBERG NEWS
SOCIAL MEDIA
TikTok launches new safety features for teens
TikTok is rolling out several new safety features, including a more expansive version of its community notes-style product, as the broader social networking industry is under fire for not doing enough to protect mental health. TikTok debuted more protections for teen and creator accounts at an event in New York City this week. The company is also expanding a test of its crowdsourced fact-checking product, called Footnotes, and will start displaying notes on TikTok posts that may be misleading or inaccurate. Footnotes will only appear next to videos if they're considered helpful by TikTok's algorithm and rated highly by the app's user base. The new tools come at a time when social networking companies have been heavily criticized for failing to protect their users, especially teens. Several of TikTok's changes are tailored toward teens. Parents could already link their account to a teen's account, but now they can also block their teen from interacting with specific users, and get notifications when their teen uploads new content or reports a video. Parents can also review their teen's privacy settings and see which topics their teen has chosen to prioritize in their feed. — BLOOMBERG NEWS.
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HEALTH
Big tech companies team up with Trump administration on medical records
Leading US technology companies, including Amazon.com Inc., Anthropic, Apple Inc., Alphabet Inc.'s Google, and OpenAI Inc., have pledged to work with health systems and the Trump administration to make the nation's fragmented medical data more useful for patients and providers. The challenges of working with people's private health information have created a black box around much of medicine. President Trump and top health officials — including Centers for Medicare and Medicaid Services Administrator Mehmet Oz and Health and Human Services Secretary Robert F. Kennedy Jr. — were set to tout a voluntary agreement aimed at breaking down those barriers at a White House event Wednesday. Both Democratic and Republican administrations have long tried to make data sharing seamless across the disjointed US health care system. The government steered billions of dollars toward digitizing paper records and promoting standards so electronic record systems could link to one another. But the effort has had uneven results, with health technology lagging industries like finance or media. Friction in the system creates frustration for patients and doctors. The latest effort from the Medicare and Medicaid agency focuses on two areas: improving data sharing between patients and health providers and expanding the suite of apps for consumers. It will involve more than 60 companies and 11 health systems, the agency said. The goal is to make it easier for seniors to sign up for health plans, find providers, and give patients more access to their health data. As a voluntary initiative, it's unclear what the consequences are for companies that don't follow through on their commitments. They agreed to 'deliver results' by the first quarter of 2026, the agency said. — BLOOMBERG NEWS
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TRADE
In blow to online retailers, Trump order set to end 'de minimis' tariff exemption
President Trump on Wednesday signed an executive order suspending the de minimis exemption, applying tariffs to low-value imports from all trading partners. The measure will be effective on Aug. 29 and apply to all goods that are valued at or under $800 that previously qualified for that tax-free treatment, according to a White House fact sheet. Some exemptions for US travelers, allowing them to bring back up to $200 in personal items, and for individuals to continue receiving 'bona fide gifts' valued at $100 or less duty-free will remain in place, the White House said. Trump's order will apply fresh duties to online retailers that ship directly to US consumers. Packages coming into the United States have long qualified for the exemption, which has been a boon for companies abroad, such as discount retailers Temu and Shein Group Ltd., that ship low-cost clothing, household goods, and other items directly to American consumers. — BLOOMBERG NEWS
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Business Insider
21 minutes ago
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A 'seismic' 39% tariff on Switzerland is rocking the watch world, and even pre-owned Rolexes could see price hikes
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