Papa John's founder Schnatter resigns as chair amid backlash
John Schnatter steps down as Papa John's board chair after using a racial slur, while remaining the largest shareholder and keeping his image on logos. The firm distances itself but faces ongoing reputational risks and mixed steps in marketing and partnerships.
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Fast food chains end no poach policies in Washington
Washington AG Bob Ferguson announced binding agreements with McDonald’s Auntie Anne’s Arby’s Carl’s Jr Jimmy John’s Cinnabon and Buffalo Wild Wings to end no poach policies that blocked workers from moving between franchise locations. The firms deny illegality but settle to avoid litigation. McDonald’s praised the move.
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Global tensions loom over tariffs and auto plant risk
Communist and allied governments push back against U.S. trade tactics while warning that Trump threats endanger the global economy. The Hyundai Alabama plant faces possible shutdown and 20 000 jobs at risk if U S auto imports fall, amid a broader U S Commerce probe into national security.
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Powell signals Fed will weigh trade battles in rate path
Federal Reserve Chair Powell says tariffs could hurt the economy while trade policy lies outside the Fed remit. The central bank intends gradual rate hikes, aiming to return to normal levels without triggering inflation or asset bubbles. He notes prior increases in 2015 2016 and again recently, with two moves this year.
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Justice Department challenges Leon ruling in AT&T Time Warner case
The Justice Department intends to appeal Judge Leon's decision on AT&T Time Warner merging, arguing a strong legal basis for a ruling error. AT&T defends the ruling as thorough, while the deal faces potential breakup fees and broader implications for vertical mergers and future media deals.
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