Trump’s Medicaid freeze, Starbucks’ vibe shift, and Costco’s DEI defense: Business news roundup
President Donald Trump’s move to freeze federal funding for a massive number of government programs seems to have impacted Medicaid payment systems across the country, potentially locking 72 million Americans out of their health insurance.
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Starbucks is changing its vibe beginning today.
The coffee chain is reintroducing elements many customers associate with its “classic coffeehouse vibe,” like condiment bars and handwritten names on cups.
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Costco (COST) is making a big change to its soda offerings.
After years of serving Pepsi (PEP), the wholesale giant will switch to Coca-Cola (KO) beverages later this year, according to CEO Ron Vachris.
“This summer, we will be converting our food court fountain business back over to Coca-Cola,” Vachris confirmed during the company’s annual shareholders meeting on Jan. 23.
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Bill Gates had some choice words for Elon Musk when asked about Musk’s recent involvement in global politics.
“It’s really insane that he can destabilize the political situations in countries,” Gates told The Sunday Times in an interview published over the weekend.
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Tesla (TSLA) shares rose despite fourth-quarter revenue and other metrics falling short of Wall Street expectations.
The Austin, Texas-based electric vehicle maker reported fourth-quarter revenue of $25.7 billion, up 2% compared to last year’s $25.2 billion. But analysts had expected $27.2 billion, according to estimates compiled by FactSet (FDS).
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LinkedIn (MSFT) co-founder and venture capitalist Reid Hoffman on Monday launched an AI startup aimed at discovering new treatments for cancer.
Manas AI will use a proprietary AI-driven platform to help speed up the drug discovery process, from identifying potential drug candidates with “paradigm-shifting speed and accuracy” all the way to clinical trials, Hoffman said in a press release. The company is initially focusing on treatments for breast cancer, prostate cancer, and lymphoma. Eventually, it intends to target other autoimmune diseases and rare conditions.
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Starbucks just cut its menu down to size. It’s not what you think
The “Back to Starbucks” strategy aims to slow down the cafe experience — while speeding up service
President Donald Trump is set to slap Mexico and Canada, two of the U.S.’s top three trade partners, with 25% tariffs on all imports as soon as Saturday. But he’s eyeing a carve-out for one of his favorite products: oil.
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