The canned cocktail maker High Noon is warning customers that some of its vodka seltzers were accidentally labeled as Celsius energy drinks.

In a recall notice posted to the Food and Drug Administration’s website, High Noon said an unspecified number of its Beach Variety packs contain cans are filled with High Noon vodka seltzer alcohol but have been mislabeled as Celsius Astro Vibe energy drink, Sparkling Blue Razz Edition, with a silver top.

The products were shipped to retailers in Florida, New York, Ohio, South Carolina, Virginia and Wisconsin from July 21 to July 23.

The recall was initiated after High Noon discovered that a shared packaging supplier mistakenly shipped empty Celsius cans to High Noon, it said.

No illnesses have been reported to date.

President Donald Trump on Wednesday signed an executive order ending the de minimis trade loophole for low-value packages shipped from all countries.

The order, which takes effect Aug. 29, will subject any shipments of imported goods into the U.S. worth $800 or less to duties, the White House said.

Any goods shipped through the international postal network will be subject to tariff rates based on the value of the package and its country of origin.

The move comes after Trump in May shuttered the de minimis loophole for goods from China and Hong Kong. A federal trade court on Monday declined to block Trump’s de minimis ban, even after an auto parts retailer argued the action was unlawful and threatened its business.

Use of the de minimis provision has exploded in recent years as online shopping has become more prevalent. Ultra-cheap online retailers such as Temu and Shein have used the loophole to ship packages to American shoppers directly from China duty-free.

Shares of PDD Holdings, the parent company of Temu, dipped lower following the announcement.

The Trump administration has sought to close the loophole, calling it a “big scam” that hurts U.S. businesses. Officials have said de minimis facilitates shipments of fentanyl and other illicit substances, saying the packages are less likely to be inspected by customs agents.

The volume of de minimis shipments has skyrocketed to 309 million units so far this fiscal year, up from 115 million for all of last year, the White House said.

July 29 (Reuters) – Union Pacific said on Tuesday it would buy smaller rival Norfolk Southern in an $85-billion deal to create the country’s first coast-to-coast freight rail operator and reshape the movement of goods from grains to autos across the U.S.

If approved, the deal would be the largest-ever buyout in the sector and combine Union Pacific‘s stronghold in the western two-thirds of the United States with Norfolk’s 19,500-mile network that primarily spans 22 eastern states.

The two railroads are expected to have a combined enterprise value of $250 billion and would unlock about $2.75 billion in annualized synergies, the companies said.

The $320 per share price implies a premium of 18.6% for Norfolk from its close on July 17, when reports of the merger first emerged.

The companies said on Thursday they were in advanced discussions for a possible merger.

The deal will face lengthy regulatory scrutiny amid union concerns over potential rate increases, service disruptions and job losses. The 1996 merger of Union Pacific and Southern Pacific had temporarily led to severe congestion and delays across the Southwest.

The deal reflects a shift in antitrust enforcement under U.S. President Donald Trump’s administration. Executive orders aimed at removing barriers to consolidation have opened the door to mergers that were previously considered unlikely.

Surface Transportation Board Chairman Patrick Fuchs, appointed in January, has advocated for faster preliminary reviews and a more flexible approach to merger conditions.

Even under an expedited process, the review could take from 19 to 22 months, according to a person involved in the discussions.

Major railroad unions have long opposed consolidation, arguing that such mergers threaten jobs and risk disrupting rail service.

“We will weigh in with the STB (regulator) and with the Trump administration in every way possible,” said Jeremy Ferguson, president of the SMART-TD union‘s transport division, after the two companies said they were in advanced talks last week.

“This merger is not good for labor, the rail shipper/customer or the public at large,” he said.

The companies said they expect to file their application with the STB within six months.

The SMART-TD union‘s transport division is North America’s largest railroad operating union with more than 1,800 railroad yardmasters.

The North American rail industry has been grappling with volatile freight volumes, rising labor and fuel costs and growing pressure from shippers over service reliability, factors that could further complicate the merger.

Union Pacific‘s shares were down about 1.3%, while Norfolk fell about 3%.

The proposed deal had also prompted competitors BNSF, owned by Berkshire Hathaway BRKa.N, and CSX CSX.O, to explore merger options, people familiar with the matter said.

Agents at the STB are already conducting preparatory work, anticipating they could soon receive not just one, but two megamerger proposals, a person close to the discussions told Reuters on Thursday.

If both mergers are approved, the number of Class I railroads in North America would shrink to four from six, consolidating major freight routes and boosting pricing power for the industry.

The last major deal in the industry was the $31-billion merger of Canadian Pacific CP.TO and Kansas City Southern that created the first and only single-line rail network connecting Canada, the U.S. and Mexico.

That deal, finalized in 2023, faced heavy regulatory resistance over fears it would curb competition, cut jobs and disrupt service, but was ultimately approved.

Union Pacific is valued at nearly $136 billion, while Norfolk Southern has a market capitalization of about $65 billion, according to data from LSEG.

(Reuters reporting by Shivansh Tiwary and Sabrina Valle, additional reporting by Abhinav Parmar, Nathan Gomes and Mariam Sunny; Reuters editing by Sriraj Kalluvila, Pooja Desai, Dawn Kopecki and Cynthia Osterma)

After spiraling from crisis to crisis over much of the past seven years, Boeing is stabilizing under CEO Kelly Ortberg’s leadership.

Ortberg, a longtime aerospace executive and an engineer whom the manufacturer plucked from retirement to fix the problem-addled company last year, is set this week to outline significant progress since he took the helm a year ago. Boeing reports quarterly results and gives its outlook on Tuesday.

So far, investors are liking what they’ve been seeing. Shares of the company are up more than 30% so far this year.

Wall Street analysts expect the aircraft manufacturer to halve its second-quarter losses from a year ago when it reports. Ortberg told investors in May that the manufacturer expects to generate cash in the second half of the year. Boeing’s aircraft production has increased, and its airplane deliveries just hit the highest level in 18 months.

It’s a shift for Boeing, whose successive leaders missed targets on aircraft delivery schedules, certifications, financial goals and culture changes that frustrated investors and customers alike, while rival Airbus pulled ahead.

“The general agreement is that the culture is changing after decades of self-inflicted knife wounds,” said Richard Aboulafia, managing director at AeroDynamic Advisory, an aerospace consulting firm.

Analysts expect the company to post its first annual profit since 2018 next year.

“When he got the job, I was not anywhere as near as optimistic as today,” said Douglas Harned, senior aerospace and defense analyst at Bernstein.

Ortberg’s work was already cut out for him, but the challenges multiplied when he arrived.

As the company hemorrhaged cash, Ortberg announced massive cost cuts, including laying off 10% of the company. Its machinists who make the majority of its airplanes went on strike for seven weeks until the company and the workers’ union signed a new labor deal. Ortberg also oversaw a more than $20 billion capital raise last fall, replaced the head of the defense unit and sold off its Jeppesen navigation business.

Ortberg bought a house in the Seattle area, where Boeing makes most of its planes, shortly after taking the job last August, and his presence has been positive, aerospace analysts have said.

“He’s showing up,” Aboulafia said. “You show up, you talk to people.”

Boeing declined to make Ortberg available for an interview.

Boeing’s leaders hoped for a turnaround year in 2024. But five days in, a door-plug blew out of a nearly new Boeing 737 Max 9 as it climbed out of Portland. The almost-catastrophe brought Boeing a production slowdown, renewed Federal Aviation Administration scrutiny and billions in cash burn.

Key bolts were left off the plane before it was delivered to Alaska Airlines. It was the latest in a series of quality problems at Boeing, where other defects have required time-consuming reworking.

Boeing had already been reeling from two deadly Max crashes in 2018 and 2019 that sullied the reputation of America’s largest exporter. The company in May reached an agreement with the Justice Department to avoid prosecution stemming from a battle over a previous criminal conspiracy charge tied to the crashes. Victims’ family members slammed the deal when it was announced.

For years, executives at top Boeing airline customers complained publicly about the manufacturer and its leadership as they grappled with delays. Ryanair CEO Michael O’Leary told investors in May 2022 that management needed a “reboot or boot up the arse.”

Last week, O’Leary had a different tune.

“I continue to believe Kelly Ortberg, [and Boeing Commercial Airplane unit CEO] Stephanie Pope are doing a great job,” he said on an earnings call. “I mean, there is no doubt that the quality of what is being produced, the hulls in Wichita and the aircraft in Seattle has dramatically improved.”

United Airlines CEO Scott Kirby cast doubt over the Boeing 737 Max 10 after the January 2024 door-plug accident, as the carrier prepared not to have that aircraft in its fleet plan. The plane is still not certified, but Kirby has said Boeing has been more predictability on airplane deliveries.

Still, delays for the Max 10, the largest of the Max family, and the yet-to-be certified Max 7, the smallest, are a headache for customers, especially since having too few or too many seats on a flight can determine profitability for airlines.

“They’re working the right problems. The consistency of deliveries is much better,” Southwest Airlines CEO Bob Jordan said in an interview last month. “But there’s no update on the Max 7. We’re assuming we are not flying it in 2026.”

Boeing under Ortberg still has much to fix.

The FAA capped Boeing’s production at 38 Maxes a month, a rate that it has reached. To go beyond that, to a target of 42, Boeing will need the FAA’s blessing.

Ortberg said this year that the company is stabilizing to go beyond that rate. Manufacturers get paid when aircraft are delivered, so higher production is key.

“I would suspect they would be having those discussions very soon,” Harned said. “It’s 47 [a month] that I think is the challenging break.”

He added that Boeing has a lot of inventory on hand to help increase production.

Its defense unit has also suffered. The defense unit encompasses programs like the KC-46 tanker program and Air Force One, which has drawn public ire from President Donald Trump. Trump, frustrated with delays on the two new jets meant to serve the president, turned to a used Qatari Boeing 747 to potentially use as a presidential aircraft, though insiders say that used plane could require months of reoutfitting.

Ortberg replaced the head of that unit last fall.

A strike could also be on the horizon at the defense unit after factory workers “overwhelmingly” rejected a new labor deal, according to their union, the International Association of Machinists and Aerospace Workers Local 837.

“The proposal from Boeing Defense fell short of addressing the priorities and sacrifices of the skilled IAM Union workforce,” the union said Sunday. “Our members are standing together to demand a contract that respects their work and ensures a secure future.”

There is a seven-day cooling off period before a strike would begin, if a new deal isn’t reached.

“They’re not totally out of the woods,” Harned said.

Boeing and Ortberg also need to start thinking about a new jet, some industry members said. Its best-selling 737 first debuted in 1967, and the company was looking at a midsize jetliner before the two crashes sent its attention elsewhere.

“Already there’s been a reversal from ‘read my lips, no new jet.’ I would like to see that accelerate,” Aboulafia said. “He is the guy to make that happen.”

Samsung Electronics has entered into a $16.5 billion contract for supplying semiconductors to Tesla, based on a regulatory filing by the South Korean firm and Tesla CEO Elon Musk’s posts on X.

The memory chipmaker, which had not named the counterparty, mentioned in its filing that the effective start date of the contract was July 26, 2025 — receipt of orders — and its end date was Dec. 31, 2033.

However, Musk later confirmed in a reply to a post on social media platform X that Tesla was the counterparty.

He also posted: “Samsung’s giant new Texas fab will be dedicated to making Tesla’s next-generation AI6 chip. The strategic importance of this is hard to overstate. Samsung currently makes AI4.TSMC will make AI5, which just finished design, initially in Taiwan and then Arizona.”

“Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress,” Musk said on X, and suggested that the deal with Samsung could likely be even larger than the announced $16.5 billion.

Samsung earlier said that details of the deal, including the name of the counterparty, will not be disclosed until the end of 2033, citing a request from the second party “to protect trade secrets,” according to a Google translation of the filing in Korean on Monday.

“Since the main contents of the contract have not been disclosed due to the need to maintain business confidentiality, investors are advised to invest carefully considering the possibility of changes or termination of the contract,” the company said.

The company’s shares rose over 6% in trading on Monday to reach their highest level since September 2024.

Tesla was a probable customer, Ray Wang, research director of semiconductors, supply chain and emerging technology at The Futurum Group, told CNBC before Musk’s post. Bloomberg News had earlier reported that Samsung’s deal was with Tesla, citing a source.

Samsung’s foundry service manufactures chips based on designs provided by other companies. It is the second largest provider of foundry services globally, behind Taiwan Semiconductor Manufacturing Company.

The company stated in April that it aimed to commence 2 nanometer mass production in its foundry business and secure major orders for the next-generation technology. In semiconductor technology, smaller nanometer sizes signify more compact transistor designs, which lead to greater processing power and efficiency.

Local South Korean media outlets have also reported that American chip firm Qualcomm could place an order for chips manufactured using Samsung’s 2 nanometer technology.

Samsung, which is set to deliver earnings on Thursday, expects its second-quarter profit to more than halve. An analyst previously told CNBC that the disappointing forecast was due to weak orders for its foundry business and as the company has struggled to capture AI demand for its memory business.

The company has fallen behind competitors SK Hynix and Micron in high-bandwidth memory chips — an advanced type of memory used in AI chipsets.

SK Hynix, the leader in HBM, has become the main supplier of these chips to American AI behemoth Nvidia. While Samsung has reportedly been working to get the latest version of its HBM chips certified by Nvidia, a report from a local outlet suggests these plans have been pushed back to at least September.

Palantir has hit another major milestone in its meteoric stock rise. It’s now one of the 20 most valuable U.S. companies.

The provider of software and data analytics technology to defense agencies saw its stock rise about 3% on Friday to another record, lifting the company’s market cap to $375 billion, which puts it ahead of Home Depot and Procter & Gamble. The company’s market value was already higher than Bank of America and Coca-Cola.

Palantir has more than doubled in value this year as investors ramp up bets on the company’s artificial intelligence business and closer ties to the U.S. government. Since its founding in 2003 by Peter Thiel, CEO Alex Karp and others, the company has steadily accrued a growing list of customers.

Revenue in Palantir’s U.S. government business increased 45% to $373 million in its most recent quarter, while total sales rose 39% to $884 million. The company next reports results on Aug. 4.

Earlier this year, Palantir soared ahead of Salesforce, IBM and Cisco into the top 10 U.S. tech companies by market cap.

Buying the stock at these levels requires investors to pay hefty multiples. Palantir currently trades for 273 times forward earnings, according to FactSet. The only other company in the top 20 with a triple-digit ratio is Tesla at 175.

With $3.1 billion in total revenue over the past year, Palantir is a fraction the size of the next smallest company by sales among the top 20 by market cap. Mastercard, which is valued at $518 billion, is closest with sales over the past four quarters of roughly $29 billion.