FTC sues PepsiCo, alleging unfair pricing for retailers
The Federal Trade Commission sued PepsiCo, alleging the company gave a big-box store an unfair price advantage. It’s part of a set of lawsuits that will be some of the last under the Biden administration.
In the suit, the FTC said PepsiCo gave pricing advantages to one large chain but did not give those incentives to smaller retailers. As a result, the agency accused PepsiCo of inflating prices for American consumers.
The lawsuit did not name the company PepsiCo sold to at a discount because the company did not engage in wrongdoing. However, outlets including The Wall Street Journal and NPR reported Walmart was the chain PepsiCo allegedly gave discounts to.
PepsiCo denied the charges. In a statement shared with multiple media outlets, the company said, “PepsiCo’s practices are in line with industry norms and we do not favor certain customers by offering discounts or promotional support to some customers and not others.”
The FTC is enforcing a law originally enacted during the Great Depression that bans suppliers from selling goods to retailers at different prices. Regulators slowed their enforcement of the law in the 1980s as part of a broader trend toward loosening regulations.
The FTC voted to advance the lawsuit by a 3-2 margin, with both Republicans voting against filing it. In a dissent, Republican Commissioner Melissa Holyoak called the lawsuit “the worst case” she has seen while on the commission.
At least 95 killed in 7.1 magnitude earthquake in Tibet
A powerful earthquake proves deadly in East Asia on Tuesday morning. And winter weather pounds the United States from the Great Plains to the East Coast. These stories and more highlight your Unbiased Updates for Tuesday, Jan. 7, 2025.
7.1 magnitude earthquake kills at least 95 in Tibet
At least 95 people are dead Tuesday after a 7.1 magnitude earthquake rocked Tibet, China, according to Chinese state media. The quake occurred just after 9 a.m. on Jan. 7 near Shigatse, one of Tibet’s holiest cities.
The quake reached a depth of 6.2 miles, damaging buildings and sending people running to the streets in neighboring Nepal and India. Cities as far away as Kathmandu, Nepal’s capital city about 240 miles away, felt tremors.
The U.S. Geological Survey measured the quake at a magnitude of 7.1, while the China Earthquake Networks Center reported it at 6.8. Multiple aftershocks followed the initial quake.
In addition to the dozens of lives lost, local authorities said the disaster injured at least 130 people.
First winter storm of 2025 leaves at least 4 dead across multiple states
The system moved east on Monday, Jan. 6, from the Great Plains to the East Coast. It brought snow, blizzard conditions and ice. The storm hit cities like Kansas City and Cincinnati the hardest.
Authorities said a public works employee in Missouri suffered a fatal injury while working to remove snow. Two people in Wichita, Kansas, died in a weather-related crash, and one person in Houston, Texas, most likely died as a result of the cold weather, according to local authorities.
The storm knocked out power to hundreds of thousands of homes across at least a half-dozen states.
While the heavy snow ended, the danger remained. Forecasters said the winter system is drawing cold air behind it, meaning states across the entire U.S. will experience a cold front.
Pentagon transfers 11 Yemeni detainees from Guantánamo Bay to Oman
The Pentagon said the U.S. transferred 11 Yemeni detainees to Oman, which agreed to help re-settle them. Two of the detainees are former bodyguards for Osama Bin Laden and were being held at Guantánamo Bay in Cuba.
None of the 11 detainees released were charged with crimes.
The move comes amid steps to reduce the population at the controversial U.S. military facility. Only 15 detainees remain at Guantánamo Bay’s detention facility, which the U.S. set up as the war on terror began after Sept. 11, 2001.
Of the 15 current detainees, only three are eligible for transfer. Three more are eligible for a periodic review, seven are involved in the military commissions process and two detainees were convicted and sentenced by military commissions.
In recent weeks, the Biden administration transferred four other detainees from Guantánamo, including one brought to the detention facility the day it opened in 2002. That person was never formally charged.
The move follows a recent ruling by a military judge that plea agreements with alleged 9/11 mastermind Khalid Sheik Mohammed and two other accused terrorists are valid and binding. Those deals take the death penalty off the table for the three men, who remain at Guantánamo Bay.
Biden attends memorial service for New Orleans terror attack victims
President Joe Biden and first lady Jill Biden attended a memorial service Monday, Jan. 6, for the 14 victims killed in the New Year’s Day truck attack in New Orleans. The interfaith prayer service was held at the famous St. Louis Cathedral in the city’s French Quarter, less than a mile away from the scene of the Bourbon Street terror attack.
Jill and I traveled to New Orleans to stand with a community defined by strength and resilience.
To grieve. To pray. And let them know that America stands with them, and mourns with them. pic.twitter.com/26Phe203WF
The president spoke at the service, reassuring the people of New Orleans they are not alone and highlighting the city’s enduring strength and resilience amid tragedy. He referred to past devastation experienced by the city, including Hurricane Katrina in 2005.
“If there’s one thing we know: New Orleans defines strength and resilience,” the president said. “You define it, whether it’s in the form of this attack, from this attack, or hurricanes or super storms. This city’s people get back up.”
The president and first lady also visited the Bourbon Street memorial, where they placed flowers and prayed for the victims.
While in New Orleans, the Bidens met privately with grieving families, survivors and first responders.
Though both cases were dismissed, the special counsel is required to provide a report to Garland, who can then decide whether to make it public.
According to the letter and a legal filing, Trump’s lawyers and two former co-defendants in the documents case viewed a two-volume draft copy of the report over the weekend. They called the report “one-sided” and “slanted.”
In the letter, Trump’s lawyer requested Garland fire Smith, who is set to resign before Trump’s inauguration on Jan. 20, or let the decision on the release of the report be handled by Trump’s incoming attorney general, Pam Bondi.
The lawyers for Trump’s two former co-defendants in the documents case also asked the judge who dismissed the case to halt the report’s release, citing her ruling that Smith’s appointment was unconstitutional.
While it is not clear when the report will be released, the lawyers have asked the judge for a hearing on their request by Friday, Jan. 10, believing the release is “imminent.”
‘Shark Tank’ star Kevin O’Leary announces bid to buy TikTok
With millions of social media users counting down TikTok’s days in the U.S., one businessman is looking to prevent the ban from taking effect. “Shark Tank” star Kevin O’Leary issued a press release Monday announcing his interest in purchasing TikTok.
O’Leary — known by “Shark Tank” fans as “Mr. Wonderful” — said he is partnering with former Dodgers owner Frank McCourt on the bid.
Speaking to Fox Business, O’Leary said he would need Trump’s help to seal the deal. O’Leary said he’s “protecting the privacy of 170 million American users” and “empowering creators and small businesses.”
TikTok faces a federal ban on Jan. 19 unless its China-based parent company, ByteDance, sells. The Biden administration and other federal lawmakers believe TikTok threatens national security, accusing the Chinese government of using it to spy on Americans. Lawmakers fear the app is being used to weaponize and influence content Americans view.
On Friday, the U.S. Supreme Court will hear arguments from ByteDance on why it should prevent the ban.
New year, same fees: The debate over credit card swipe fees continues
Even as inflation cools, small businesses across the country are feeling the heat from credit card swipe fees as more consumers pay with plastic. “Swipe fees” is the catchall term for businesses’ payments to banks and card companies each time customers use their credit or debit cards to pay.
While a federal rule caps debit card swipe fees at 21 cents per transaction, fees for credit card swipes can be much higher. Businesses have seen credit card transactions only go up as more and more people opt to link their card to mobile payment apps.
According to the Nilson Report, which tracks the card and mobile payment industry, in 2023 the U.S. saw $172 billion in swipe fees. Nilson Report said merchants paid Visa and Mastercard an average of 2.26% in swipe fees, accounting for more than $100 billion.
Visa accounted for 52% of all spending on the U.S.’ four major credit card networks, which also includes Mastercard, American Express and Discover.
On top of that, some of Visa’s fees just went up on Jan. 1. That move comes amid growing pushback from critics, including some lawmakers, who say swipe fees are excessive and frequently get passed on to shoppers.
In September, the Justice Department filed a lawsuit accusing Visa of maintaining an illegal monopoly over debit card payment networks, which Attorney General Merrick Garland said has impacted the price of “nearly everything.”
Visa and Mastercard also agreed to a $30 billion settlement in March, meant to reduce their swipe fees by four basis points for three years. However, a federal judge rejected the settlement in June, saying they could afford to pay more.
Congress has taken up the fight, proposing the Credit Card Competition Act. The bipartisan bill, which has stalled, would boost competition among credit card processing companies, which advocacy group Merchants Payments Coalition says is essential.
Small business owners concerned as TikTok ban looms
The popular social media app TikTok could be banned in the U.S. in a matter of days and the looming threat has some small business owners concerned. Since the app launched in 2017, small business owners say they have used TikTok in several ways, from advertising and marketing to selling goods directly.
TikTok estimates the ban would cost the company more than $1 billion in revenue in a single month.
If the ban does take effect, small businesses could still turn to alternatives like Instagram Reels, Snapchat and YouTube Shorts. However, owners raised concerns that it may be harder to reach teens since TikTok tends to be their preferred social media app.
The Supreme Court will hear oral arguments over whether the ban violates the First Amendment on Jan. 10.
President-elect Donald Trump, who is not set to take office until Jan. 20, the day after the ban is scheduled to take effect, asked the Supreme Court to consider a delay on the ban taking effect.
Canadian wildlife resort offers a night with wolves, experts warn against trend
Parc Omega in Quebec, Canada, puts guests face-to-face with nature when they book a night at the park’s cabin. Some wildlife experts in Wyoming, meanwhile, say that such meetings between humans and wolves can cause negative impacts to the wild animals.
Imagine a pane of glass separating you from a pack of wolves. A wildlife preserve in Canada uses giant windows and sliding doors to give guests a look inside a wolves habitat.
A local researcher in Wyoming said changing a wolf’s surroundings to include more interaction with humans can shift its behavior and create a false sense of security.
Wildlife experts said the trend could become dangerous if it’s brought to Wyoming National Parks because it blurs the line between wildlife and human interaction. Wolves aren’t known to attack humans, but experts said the growing popularity can change that. Once animals become too familiar with people, it decreases their natural fear of humans.
Parc Omega’s website states that its experience puts safety precautions in place for lodgers. Visitors are not allowed to feed the wolves or open the windows to interact directly with animals. It also mentions a tall fence separating the animal’s habitat from the lodge’s yard and patio.
Right now, across America’s national parks, there aren’t any wildlife-viewing lodges. Many parks use technology or designated viewing areas to keep people and animals separate.
The measure passed in Missouri with 58% voting in favor. It requires companies to give employees one hour of paid sick leave for every 30 hours worked, totaling up to five days per year for small businesses with fewer than 15 employees and up to seven days a year for larger companies.
In Nebraska, 74% of voters said they were in favor of requiring companies to offer paid sick leave. Small businesses must now provide 40 hours per year — or up to five days — paid sick leave, and large businesses must give employees up to 56 hours — or seven days’ worth.
Nebraska considers small companies to be those having fewer than 20 employees.
So far in Alaska, 56% of voters want paid sick leave. As of Wednesday, Nov. 6, only 76% of Alaska’s precincts had reported, so that could change, but the measure is still likely to pass.
It’s similar to Missouri’s measure, requiring one hour of paid sick leave for every 30 hours worked. It’ll require smaller employers to provide up to five days paid sick leave, and larger ones seven.
The measure also raises the state’s minimum wage to $15 dollars per hour by 2027. Currently, Alaska’s minimum wage is $11.73 an hour.
Businesses prepare for effects of possible tariffs if Trump wins
Former President Donald Trump wrapped up his campaign talking about tariffs during a stop in Pittsburgh, Pennsylvania. The topic has the business world watching closely in the event he wins the election.
During his rally, Trump started talking about the addictive painkiller fentanyl and the negative effect it has over the country.
Trump stated he will punish Mexico and China with a 25% tariff on goods unless both countries stop the flow of fentanyl into the U.S.
Toolmaker Stanley Black & Decker is just one company that’s already preparing for possible tariffs to be slapped on China. President and CEO Don Allan told IndustryWeek that the company has been planning for this possibility since last Spring.
He said his company has gone through various scenarios, one of which would be price increases.
Allan also said the second aspect of the company’s plan would be to move production out of China. He said the company would move to either other Asian countries or even Mexico. He said this in advance of Trump’s latest remarks on tariffs.
He added that it’s unlikely Stanley Black & Decker would move production, or business, back to the United States. He said it’s because it’s too expensive and he has concerns about labor supply.
Most profitable US fishing port voices concerns over offshore wind projects
The New Bedford Port Authority, which oversees the nation’s most profitable commercial fishing hub, is voicing concerns over new offshore wind developments that could impact critical scalloping grounds. Generating over $400 million annually, around 80% of the region’s fishing industry revenue stems from its scallop harvests.
Over the next 16 years, the most impacted fisheries from these renewable energy projects have an estimated catch value of $2 billion at stake, with $1.5 billion of that total coming from scallops. Officials worry that expanding offshore wind could disrupt an industry that many coastal communities rely upon.
In response, the New Bedford Port Authority has sent a letter to the Bureau of Ocean Energy Management (BOEM), the federal agency overseeing offshore wind leases. The letter expresses the group’s apprehensions over the 13,476,805-acre area off the U.S. East Coast that has been designated for offshore wind projects.
“It unnecessarily includes some of the most critically important scallop fishing areas on the East Coast,” Gordon Carr, New Bedford Port Authority executive director, wrote in a statement. “What is stunning to us is that all that data is and was available to BOEM prior to setting the boundaries.”
While the Port Authority says the group does “recognize and support the need for offshore wind development,” officials argue that BOEM’s decision to include critical scalloping grounds in the proposed lease area disregards the established industries dependent on these waters. They suggest that shifting the boundary 150 miles to the south could have prevented this overlap.
“We have become more and more concerned that development must only be accomplished in a responsible manner by protecting established industries that share our waters,” Carr wrote. “In particular, ‘responsible manner’ must include learning from mistakes made in failing to avoid and address the interaction and conflicts between offshore wind and commercial fishing in connection with previous BOEM actions. People’s livelihoods are based on these actions.”
Some local fishers have also reported changes they believe correlate with increased offshore wind activity, such as more frequent sightings of dead whales, declining scallop catches and empty shells. Meanwhile, the Port Authority says it expects BOEM will ultimately modify the leasing area to exclude these key scalloping grounds.
Billing error, not rising energy prices, behind viral Trump campaign moment
A viral moment from former President Donald Trump’s recent campaign stop at a Bronx barbershop captured the store’s owner, Javier Rodriguez, expressing concerns about sharply rising energy costs, saying his annual utility bill rose from $2,100 to $15,000 over the last four years. However, it has now been reported by The New York Times that the increase in power bills was not due to rising energy prices since Trump left office, but rather a billing error.
This all began when Rodriguez shared allegations of a more than 600% spike in his shop’s energy costs during Trump’s visit to his business. Rodriguez’s story quickly spread online, raising questions about whether such a large increase in the barber’s power bill was actually possible. A Straight Arrow News analysis of the math behind the supposed energy cost hike found that the figures did not align with current state electric rates.
However, the substantial increase in Rodriguez’s power bill is now believed to be the result of a recurring billing error linked to a malfunctioning smart meter. At times, the meter had been charging Rodriguez’s barbershop 14 times the actual amount of electricity it used.
Con Edison, the utility company responsible for managing power across New York City, has acknowledged the error. The company stated that it had been working to resolve the problem since August, and reached out directly to Rodriguez to correct the mistake. The company also claims that no payments have been or will be collected from Rodriguez until the issue is fully resolved.
During Trump’s town hall style event at his barbershop, Rodriguez mentioned that he was in the process of disputing the charges with Con Edison. The barber posted this exchange with the former president on his Instagram, although that portion of their conversation was omitted from Fox News’ coverage of Trump’s visit. The network expressed it is happy to see that the segment helped bring the billing issue to light.
Rodriguez admitted he was initially overwhelmed by the media attention, but now sees it as a positive development, as he says the public spotlight prompted Con Edison to address the situation more urgently.
Is the alleged $15,000 energy bill from Trump’s NYC barbershop visit accurate?
During former President Donald Trump’s recent visit to a New York City barbershop, the store’s owner raised concerns about increases in electricity costs, stating that his monthly energy bills had skyrocketed from $2,100 to $15,000 since the Biden administration took office. While electricity prices in New York have gone up since Trump left the White House, some have questioned the accuracy of a more than 600% hike in energy expenses.
Back in 2020, the average retail price of electricity for commercial use in New York state was approximately 15 cents per kilowatt hour (kWh). Today, the average has risen to around 21 cents per kWh, which is 51% higher than the national average.
Calculations based on 2020 electricity prices suggest that the barbershop would have been using approximately 14,000 kWh annually—consistent with the average consumption for a small business with around 11 employees, which stands at 15,000 kWh.
If the current $15,000 energy bill is accurate, this would imply a significant increase in electricity usage, reaching around 71,400 kWh per year. This level of a power consumption increase would be equivalent to adding the annual energy needs of more than five typical households.
Assuming the barbershop’s energy consumption rate has remained consistent since 2020, the estimated total annual cost today should be closer to $3,000, reflecting higher rates that could strain the average American’s bottom line, but not to the extent claimed.