China Robots Surpass US: From Factories to Socks
- * Campbell's Soup Controversy: Campbell's is facing a PR crisis after a VP's comments about producing "highly processed food" for "poor people" were recorded.
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* Campbell’s Soup Controversy: Campbell’s is facing a PR crisis after a VP’s comments about producing “highly processed food” for “poor people” were recorded. The company is defending its ingredients, specifically stating its soups contain “real chicken.”
* Manufacturing Job Losses: The US has lost 59,000 manufacturing jobs as April, despite President Trump’s “Liberation Day” tariffs intended too protect domestic manufacturing. Experts find this decline “striking.”
* Consumer Spending: A JPMorgan chase Institute report indicates Gen Z and lower-income consumers have limited spending power this holiday season – enough to spend, but not to splurge. Younger workers are also lagging in income growth, and even those aged 50-54 are seeing income decline.
* Market Performance:
* S&P 500 futures are up 0.3%.
* STOXX Europe 600 is up 0.4%.
* FTSE 100 (UK) is up 0.26%.
* Nikkei 225 (Japan) is up 1.85%.
* CSI 300 (China) is up 0.61%.
* KOSPI (South Korea) is up 2.67%.
* NIFTY 50 (India) is up 1.24%.
* Bitcoin is flat at $87K.