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A Nestlé DEI boycott begins this week. What Wisconsinites should know about latest spending freeze

A Nestlé DEI boycott begins this week. What Wisconsinites should know about latest spending freeze

Yahoo19-03-2025
Consumers across the country are participating in a week-long boycott of Nestlé beginning Friday, the latest in a series of spending freezes targeting major corporations' reversal of DEI policies.
The boycott, organized by the same activist group that planned the 24-hour economic spending blackout on Feb. 28, will last through Friday, March 28. A 40-day "fast" of Target is also underway.
The People's Union USA, led by John Schwarz, also organized a week-long boycott of Amazon that ended last Friday. Schwarz cited several reasons for the upcoming boycott, including Nestlé's alleged use of child labor, in a recent Instagram video.
"This is not just another boycott," Schwarz said. "It is a direct hit to one of the most corrupt global corporations there is."
More: DEI explained: What is DEI and why is it so divisive? What you need to know.
Here's what Wisconsin shoppers should know:
The Nestlé boycott is slightly different from past actions. Unlike the Target and Amazon spending freezes, consumers are urged to avoid buying products from the hundreds of brands Nestlé owns, ranging from pet food to bottled water to candies.
An entire list of brands owned by Nestlé can be found on its website.
The Nestlé boycott begins on Friday, March 21 and runs until Friday, March 28.
The faith community's 40-day boycott is in protest of the retailer's decision to reverse DEI initiatives. It began on Wednesday, March 5, and will continue for 40 days to align with Lent, which ends on Thursday, April 17.
Organizers created targetfast.org to offer information on the boycott.
"This is a fast for accountability," the boycott's website said. "A fast for justice. A fast for a future where corporations do not bow to pressure at the expense of marginalized communities."
More: A 40-day boycott of Target begins this week. Here's what Wisconsinites should know about it
The People's Union USA has more consumer boycotts planned in the coming months. Here is the schedule laid out in a flier found on its website:
Nestlé: March 21-28
Walmart: April 7-14 and May 20-26
Second economic blackout: April 18
General Mills: April 21-28
Amazon: May 6-12
Target: June 3-9
McDonald's: June 24-30
Independence Day boycott: July 4
Social media posts — using #LatinoFreezeMovement and #LatinoFreeze — have also encouraged consumers to "hold your money'' amid freezes on DEI initiatives, National Institutes of Health funding and immigration actions.
The National Action Network, founded by Rev. Al Sharpton, also said in a Feb. 25 news release that it will announce an authorized boycott at the NAN Convention in early April.
Lori Comstock and Chad Murphy contributed to this report.
More: UW-Madison under second investigation by Trump administration amid federal DEI crackdown
This article originally appeared on Milwaukee Journal Sentinel: Nestlé DEI boycott to begin Friday. What to know in Wisconsin
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Trump-backed 'big beautiful bill' unleashes billions for Big Tech. How four of our megacaps benefit
Trump-backed 'big beautiful bill' unleashes billions for Big Tech. How four of our megacaps benefit

CNBC

time2 hours ago

  • CNBC

Trump-backed 'big beautiful bill' unleashes billions for Big Tech. How four of our megacaps benefit

The "big beautiful bill" — championed by President Donald Trump and signed on Independence Day — is shaping up to be a windfall for Big Tech. The measure — officially called the "One Big Beautiful Bill Act," or OBBBA for short — restores three tax provisions from the 2017 Tax Cuts and Jobs Act (TCJA) from Trump's first administration. They are set to boost free cash flow (FCF) for megacap tech firms that are pouring billions and billions of dollars into building artificial intelligence data centers and specialized AI infrastructure. The OBBBA brings back (1) expensing for domestic research and development, (2) 100% bonus depreciation for qualified capital expenditures, and (3) a more flexible interest deductibility limit. These provisions don't lower statutory tax rates. But, as Morgan Stanley noted, they will accelerate deductions, which could potentially drive "effective cash tax rates back toward historical lows." That, according to the analysts, could "unlock billions of free cash flow" this year for companies, including Club names Amazon , Apple , Meta Platforms , and Microsoft , which all report earnings this week. While the OBBBA provisions are valuable for the entire business community, large tech firms, in particular, benefit, according to Morgan Stanley, due to "massive R & D (research and development) and infrastructure investment in areas like AI, compute, data centers, and cloud platforms." The analysts at Morgan Stanley estimated that tech companies' FCF — or cash a company generates from its operations after accounting for necessary investments to maintain or expand the business — "could inflect this quarter," as companies adjust to the new legislation. That extra liquidity will give them "more flexibility to continue to deepen their competitive advantage in Generative AI and deliver more free cash flow to investors," they wrote in a recent note to clients. 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"Before this bill, we were probably the only first-world country that penalized companies to do research and development, which is interesting in the sense that the U.S. is one of the leading innovators," said Kunaal Patel, principal of tax services at Baker Tilly. Companies can now take that full R & D expense on those deductions, meaning, their overall cash liability "should decrease dramatically in 2025 and going forward," he added. Under TCJA's rules on bonus depreciation, companies were temporarily permitted to deduct 100% of qualifying capital expenditures upfront. But, that went down by 20% each year starting in 2023, resulting in a 40% depreciation level in 2025. As Morgan Stanley puts it, these OBBBA changes allow businesses to "now reliably factor full bonus depreciation into long-term capital planning and investment decisions." These two provisions together – R & D and bonus depreciation – "significantly lower current cash tax obligations by accelerating the timing of cash deductions," analysts wrote. TCJA also placed new limits on how much interest businesses could deduct. Initially, businesses could deduct interest expenses up to 30% on EBITDA (earnings before interest, taxes, depreciation, and amortization. Beginning in 2022, that limit tightened to 30% of EBIT, excluding depreciation and amortization. The OBBBA went back to 30% on EBITDA. According to the Tax Foundation , a Washington think tank, this change provides "tax relief for firms dealing with debt-financed investment in a higher interest rate environment." To be sure, while the OBBBA should boost FCF, investors should continue to prioritize the companies' fundamental drivers of cash flow generation, especially since the timing of these tax changes won't impact their generally accepted accounting principles (GAAP) earnings-per-share. In other words, these tech firms aren't fundamentally different companies just because they're getting billions in bonus free cash flow from these new tax treatments. Rather, it's a "timing benefit from the pull forward of future cash tax savings rather than a structural change in free cash flow generation," according to Morgan Stanley. This means these companies will recognize more cash flows upfront and less later. "The new bill should promote a lot of domestic investment by big tech and provide a positive trickle-down effect to the rest of the economy," Jeff Marks, director of portfolio analysis for the Investing Club. "Although, some of the boost to free cash flow is accounting-based, it should support the multibillion-dollar share repurchase programs of these large companies." Here's a look at how much and in what ways Amazon, Apple, Meta, and Microsoft (in alphabetical order) stand to benefit from the three major tax provisions of the OBBBA. AMZN YTD mountain Amazon YTD Amazon stands to be the "largest beneficiary" thanks to its massive capital spending on data centers, logistics infrastructure, and research and development, particularly in cloud computing. A Morgan Stanley analysis estimates that Amazon will see a $15 billion lift to free cash flow by 2026, with the benefit still reaching $11 billion in 2028. While some of this may be returned to shareholders, analysts say the real impact is in Amazon's ability to double down on next-generation investments. That includes everything from same-day delivery and robotics in its retail business, to chip development and infrastructure expansion in its Amazon Web Services (AWS) cloud unit. The OBBBA would also give Amazon room to scale its partnership with AI firms like Anthropic. "This is more likely to give Amazon the flexibility to continue investing in its moats, especially in areas like generative AI, logistics and grocery," analysts said. AAPL YTD mountain Apple YTD Apple is expected to get a $20 billion boost to FCF over the next four years, according to Morgan Stanley. That's equal to an average annual free cash flow tailwind of 4% — with the biggest benefit of about $12 billion coming in 2026, the analysts noted. While meaningful, this extra cash isn't likely to change Apple's steady capital return strategy, which includes roughly $25 billion in quarterly stock buybacks and modest dividend increases. Still, Morgan Stanley sees room for Apple to invest "on the margin," particularly in areas like AI infrastructure, iPhone manufacturing shifts, and new technology like health or robotics. The analysts said the bill gives Apple "more cash optionality," but expects most of its plans to stay the same. META YTD mountain Meta Platforms YTD Meta, too, would see a significant lift from the bill, with Morgan Stanley estimating an $8 billion to $10 billion increase in free cash flow through 2028. That's a 22% boost to the company's expected 2026 free cash flow — a strong figure for a company spending heavily in AI infrastructure. Analysts believe Meta is more likely to reinvest a good chunk of that tax benefit into its infrastructure buildout to support massive AI computing clusters. MSFT YTD mountain Microsoft YTD The OBBBA could boost Microsoft's free cash flow by $10 billion over the next year — a 12% jump from previous forecasts, according to Morgan Stanley. However, the analysts don't expect this to change Microsoft's game plan. With more than $80 billion already on its balance sheet and another $130 billion to $150 billion in annual operating cash flow expected, the company "is not cash constrained," they said. This suggests any extra funds might be used for opportunistic acquisitions under the current administration. (Jim Cramer's Charitable Trust is long AMZN, META, MSFT, AAPL. See here for a full list of the stocks.) 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Procter & Gamble beats on earnings, warns of $1 billion tariff hit
Procter & Gamble beats on earnings, warns of $1 billion tariff hit

Yahoo

time2 hours ago

  • Yahoo

Procter & Gamble beats on earnings, warns of $1 billion tariff hit

Procter & Gamble (PG) is taking a cautious approach to the next 12 months as it navigates uncertain consumers and Trump tariffs. The consumer products giant said Tuesday it will see a $1 billion hit to profits in its new fiscal year as a result of tariffs. It offered mixed earnings-per-share guidance as a result, with the bottom end of the range below analyst forecasts. Shares rose slightly in premarket trading as its fiscal fourth quarter results beat estimates. Read more: Live coverage of corporate earnings P&G's earnings come amid a change atop the C-suite ahead of the results. It announced late Monday that Shailesh Jejurikar will succeed CEO Jon Moeller on Jan. 1, 2026. Jejurikar is currently the company's COO but has been with P&G since 1989. He has helped lead some of P&G's most important businesses around the world, notably a fabric care business led by the Tide brand. Moeller has been the CEO of P&G since November 2021. He has been with the company since 1988, holding positions such as COO and CFO before landing the top job from David Taylor. Moeller will assume the position of executive chairman of P&G. "We are not surprised as we believe Mr. Jejurikar's was the natural successor to CEO Moeller after his appointment to the COO position in October of 2021. We also think Jejurikar's experience in both developed markets and emerging market and as the CEO of global fabric care and home care gives him enough experience to lead P&G," JPMorgan analyst Andrea Teixeira said. Earnings insight: Weakness in fabric and baby products Net sales: $20.9 billion, +2% from the prior year vs. $20.82 billion estimate Organic sales growth: +2% vs. +1.75% estimate Beauty segment organic revenue growth: +1% vs. +1.6% estimate Grooming segment organic revenue growth: +1% vs. +2.46% estimate Healthcare segment organic revenue growth: +2% vs. +3.57% estimate Fabric and home care segment organic revenue growth: +1 vs. +1.76% estimate Baby, feminine, and family care segment organic revenue growth: +1% vs. +1.37% estimate Adjusted EPS: $1.48, +6% from the prior year vs. $1.42 estimate What else caught our attention: Warnings Full-year organic sales growth: 0% to +4% (estimate: +2.54%) Full-year earnings per share: $6.83 to $7.09 (estimate: $6.99)Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Paris Hilton's $63M mansion buy led US home sales in June
Paris Hilton's $63M mansion buy led US home sales in June

New York Post

time2 hours ago

  • New York Post

Paris Hilton's $63M mansion buy led US home sales in June

Paris Hilton and her husband led the US real estate market in June with their pricey purchase of Mark Wahlberg's former megamansion. The mammoth Beverly Hills estate cost Hilton and her venture capitalist husband, Carter Reum, a cool $63 million. Their purchase topped out Redfin's top 10 list of the country's most expensive home sales, as did five other California-based transactions. Agents told CNBC the recent ranking reflects a pattern of luxury real estate regaining momentum in fire-ravaged Los Angeles. Advertisement 9 Paris Hilton, pictured in June. GC Images 9 Hilton and her husband, Carter Reum, share two children — and a new place to call home. Evan Agostini/Invision/AP 9 Wahlberg and his wife Rhea Durham sold the impressive property for $55 million in 2023. Paul Barnaby Advertisement Indeed, Hilton and Reum, who share two young children, lost their $8.4 million oceanfront Malibu home to the Palisades Fire — one of several that raged through the state in January. Hilton was candid about the loss in a post to her millions of Instagram followers. 'Sitting with my family, watching the news, and seeing our home in Malibu burn to the ground on live TV is something no one should ever have to experience,' the heiress and influencer wrote. The sheer scale of her family's new home makes its eye-watering $63 million price a little more understandable. 9 A sun-lit dining room. Paul Barnaby Advertisement 9 One of two kitchens in the main house. Paul Barnaby 9 A wine and cigar cellar with a tasting area. Paul Barnaby 9 The outdoor pool includes a grotto, waterfalls and waterslides. Paul Barnaby The nearly 30,500-square-foot spread sits on 6 private acres. The extensive grounds feature a sports court, a skate park, a five-hole golf course and a pool worthy of a waterpark. A main house and a guesthouse include a collective 12 bedrooms — as well as a wine and cigar cellar, a home theater and staff quarters. Advertisement The mansion's sellers made a tidy profit from the deal, CNBC reported, even accounting for Los Angeles' hefty mansion tax. Their success makes Mark Wahlberg's $55 million sale of the home in 2023 look sadly premature. Hilton and Reum's purchase is currently the fifth priciest home sale of 2025, according to Redfin. Nicole Plaxen, an agent with the Beverly Hills Estates, told CNBC that LA's luxury market is being driven by displaced homeowners like Hilton. Plaxen also noted a return in foreign buyers, especially from China. 9 The Palisades Fire claimed modest starter homes and A-lister mansions alike. London Entertainment for NY Post 9 Hilton closed on the home five months after losing her family's Malibu beach house. Paul Barnaby The other 50% of Redfin's chart-topping June sales took place elsewhere: Three in coastal Florida, one in Manhattan and another on Lake Tahoe's Nevada side. All 10 sold for more than $30 million. New York's appearance in the June rankings was credited to the sale of a 50-foot-wide mansion in Midtown Manhattan. The sprawling 22-bedroom residence just off Fifth Avenue was built for a cousin of J.P. Morgan during the city's Gilded Age. The seller, previously reported at real estate developer Orin Wilf, cinched a $38.2 million deal on the property. Neither Wilf's sale nor Hilton's purchase comes even close to the year's most expensive deal so far. That superlative belongs squarely with the $225 million sale of three adjacent beachfront properties in Naples, Florida. The April transaction marked the second-highest home sale ever in the US, trailing Ken Griffin's $238 million penthouse purchase at 220 Central Park South in early 2019.

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