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The city of San Francisco has filed a lawsuit against 10 major food manufacturers, including Coca-Cola, PepsiCo, Kraft Heinz, and Nestlé, claiming that ultraprocessed foods are contributing to a public health crisis. City Attorney David Chiu said: "They took food and made it unrecognizable and harmful to the human body," as he highlighted the link between these foods and serious health issues including Type 2 diabetes and cancer. The lawsuit seeks to hold the companies accountable for deceptive marketing practices, and also calls for consumer education on health risks and financial penalties to assist local governments with healthcare costs related to ultraprocessed food consumption. The lawsuit marks the first time a municipality has sued over claims food companies have knowingly marketed addictive and harmful ultra-processed foods. A report from the U.S. Centers for Disease Control and Prevention indicates that most Americans derive over half their calories from such foods.

 

BBC News

NPR

Reuters

San Francisco Chronicle

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U.S. wireless carrier AT&T has confirmed its decision to end diversity, equity, and inclusion (DEI) programs in order to secure approval from the Federal Communications Commission (FCC) for its $1.02bn acquisition of wireless spectrum assets. The move aligns with similar actions taken by T-Mobile and Verizon, which have also ceased DEI initiatives while pursuing regulatory approvals for major deals. AT&T said in its letter to the FCC that it “does not and will not have any roles focused on DEI.”

 

CNN

Reuters

American manufacturing contracted for the ninth straight month in November, according to the Institute for Supply Management (ISM). The organization's purchasing managers index (PMI) fell by a half-point from October to 48.2, below the 50-mark separating expansion from contraction. Economists polled by Reuters had forecast the PMI would rise to 49. The forward-looking new orders sub-index decreased to 47.4 from 49.4, while the prices paid measure increased to 58.5, from 58. Separately, the S&P Global U.S. Manufacturing PMI dropped from 52.5 in October to 52.2. "The main impetus came from a strong rise in factory production, but growth in new order inflows slowed sharply, hinting at a marked weakening of demand growth," commented S&P Global Market Intelligence chief business economist Chris Williamson. “In short, manufacturers are making more goods but often not finding buyers for these products. This combination of sustained robust production growth alongside weaker than expected sales led to a worryingly steep rise in unsold inventories." 

 

Market Watch

Reuters

The Federal Reserve is closely monitoring the commercial real estate loan portfolios of community and regional banks due to concerns over "elevated interest rates, tighter underwriting standards, and lower commercial property values." These adverse factors could impact borrowers' abilities to refinance or repay their loans, as noted in a recent supervision and regulation report. In addition to assessing loan trends, the Fed is also reviewing underwriting practices and credit loss reserve levels within these banks.

 

Bloomberg

Blackstone, Apollo and KKR have agreed to participate in a Bank of England stress test of how the fast-growing private credit market would fare in a major crisis, sources say.

 

Financial Times

Airbus is conducting inspections on A320 fuselage panels after defects were identified, impacting deliveries of up to 100 jets scheduled for 2025. A total of 628 aircraft across various stages of production need to be examined for quality issues, including 168 already in service. While the situation is not considered an immediate safety risk, repairs may take three to five weeks and could disrupt normal production sequences, potentially affecting the company's delivery targets for the year.

 

Reuters

UnitedHealth Group has reportedly agreed to sell its South American business, Banmedica, to Brazilian private equity firm Patria Investments for $1bn. This move follows UnitedHealth's strategy to exit Latin America, a plan initiated in 2022 after previous divestments in Brazil and Peru. The sale, which has been in negotiations for nearly a year, is expected to bolster the company's efforts to regain investor confidence and focus on future growth following a significant $8.3bn loss associated with its South American operations.

 

CNBC

Zillow has removed climate risk scores from over 1 million listings after complaints from real estate agents, who argued that the information negatively impacted sales. Initially added in September 2024, these scores were intended to inform buyers. Matthew Eby, a spokesperson for First Street, the climate risk analytic start-up that provides the data, emphasized the importance of such information, saying: “When buyers lack access to clear climate-risk information, they make the biggest financial decision of their lives while flying blind.” First Street's scores remain available on other platforms including Realtor.com and Redfin. Art Carter, CEO of the California Regional Multiple Listing Service, had raised concerns about the accuracy of First Street's data, questioning the likelihood of flooding in areas that haven't experienced it in decades.

 

Techcrunch

Utilities including PG&E are using artificial intelligence start-ups to analyze satellite images and identify trees that pose a risk of falling onto power lines and igniting wildfires. The approach is seen as significantly cheaper than burying power lines, a process which costs over $3m per mile. AI-driven tree trimming can prevent about 80% of potential fire starts, while targeted interventions help mitigate remaining risks. Overstory, a Massachusetts-based company, has developed technology to pinpoint trees needing maintenance. The start-up's CEO Fiona Spruill said: “We could have a huge impact from a climate standpoint, in that we could help prevent wildfires.”

 

Los Angeles Times

Russia's state communications regulator, Roskomnadzor, has threatened to completely block WhatsApp unless it complies with local laws aimed at combating crime and terrorism. The regulator accused WhatsApp, owned by Meta Platforms, of failing to share necessary information with law enforcement after previously limiting some calls on the platform. In response, WhatsApp has claimed that the Russian government is attempting to restrict access to secure communications, while authorities promote a state-backed app called MAX, which critics speculate could track users.

 

Reuters

The Food and Drug Administration is to stop requiring pharmaceutical companies to use lab monkeys for some safety studies, in what the Financial Times says is "a significant cost-savings victory for the industry."

 

Financial Times

Reuters

U.S. Sen. Tom Cotton (R-AR) has written to Attorney General Pam Bondi, requesting an investigation into Shein and Temu, which source most of their products from China, for intellectual property theft, and counterfeiting. The ending of the de minimis exemption, which allowed packages shipped directly to shoppers valued at under $800 to enter the U.S. duty-free, has "forced Shein and Temu to change their business model", Mr Cotton said in the letter, adding: "These companies now stock massive inventories in U.S. warehouses and distribution centers. Their goods are no longer slipping through ports. They are sitting on American soil under U.S. jurisdiction". Separately, Texas Attorney General Ken Paxton has added to the pressure on the companies, citing numerous reports about Shein's alleged reliance on forced labor, and claims of the use of unsafe materials and deceptive marketing.

 

BBC News

Reuters

Costco has joined a growing number of businesses suing the Trump administration to secure refunds if the Supreme Court invalidates the president's global tariffs policy. The lawsuit, filed on November 28th in the U.S. Court of International Trade, was prompted by concerns over the uncertainty of refunds for companies paying duties. Costco's lawyers said: "We need a court intervention immediately" due to Customs and Border Protection denying an extension for tariff determinations. The Supreme Court heard arguments on the tariffs on November 5th, and while lower courts have ruled against the administration, the tariffs remain in effect until a decision is made. Other companies, including Revlon and Kawasaki, have also filed similar lawsuits. The ongoing tariff policies have disrupted the retail sector, raising prices and affecting consumer purchasing power.

 

CNBC

NBC News

The Oregonian

Washington Post

The U.S. Food and Drug Administration (FDA) has identified 19 cookware products that may release harmful levels of lead into food. Most items, made from aluminum or brass, originate from India. The FDA's warning follows additional testing, adding nine new products to the list. Lead exposure poses serious health risks, particularly for children and pregnant women. Consumers should consult a doctor if concerned about exposure. The affected cookware was found in several states, including California, Illinois, and Maryland.

 

US News and World Report