July 2, 2025
- Del Monte Foods has filed for bankruptcy, voluntarily entering Chapter 11 proceedings. The company is reportedly searching for a buyer, selling all of its assets (via CNN Business).
- GameStop has settled, for $4.5 million, a class-action lawsuit related to an alleged privacy breach. Customers who purchased a game digitally from the retailer during the past five years could be entitled to a modest payout (via FOX Business).
- Tariffs are beginning to trigger an increasing number of retail price hikes, according to a Dataweave analysis. Should President Trump extend tariffs beyond the July 9 deadline set for dealmaking, experts suggest price increases will continue (via CNBC).
- Microsoft has announced that it will be cutting as many as 9,100 jobs globally, or approximately 4% of its workforce. The company’s Xbox division, known as Microsoft Gaming, will allegedly be hardest-hit (via The Verge).
- Chuck E. Cheese is expanding its business via a spin-off venture aimed at adult customers. Chuck’s Arcade will feature a mix of new and old games, food offerings, and in some cases alcoholic beverages (via CNN Business).
- Absolut is honoring Keith Haring via its Absolut Haring artist edition bottle. The campaign follows last year’s Absolut Warhol launch (via Forbes).
- Stellantis has announced the return of its Street and Racing Technology (SRT) performance division. The revived brand is set to span Chrysler, Jeep, Dodge, and Ram makes (via MotorTrend).
- Constellation Brands reported a quarterly earnings and revenue miss, citing aluminum tariffs as at least one headwind. However, the brewer reiterated its fiscal 2026 forecast (via CNBC).
- Louis Vuitton has opened a flashy and extravagant cruise ship installation in Shanghai. The 17,000 square-foot space includes retail, exhibition, and hospitality spaces for interested consumers (via Forbes).
- Tesla reported a significant plunge in quarterly sales, moving 384,122 cars this quarter. Down nearly 60,000 sales versus last year’s quarter, this statistic represents the largest sales drop in the automaker’s history (via CNN Business).