State Farm's recent announcement of new contracts for its sales agents has ignited fierce backlash, as the changes could reduce their income by up to 40% and cut benefits, The Wall Street Journal reports. The move is part of a strategy to adapt to AI advancements and take on Progressive, which has overtaken State Farm as the largest personal auto insurer. While some agents see the need for change, many feel betrayed by the proposed cuts, venting their anger and frustration across social media.
For the first time in 11 years, Chick-fil-A is not the top-rated quick-service restaurant in America. Sandwich giant Jersey Mike's scored an 84 compared with Chick-fil-A's 83 in the annual American Customer Satisfaction Index. However, Chick-fil-A still managed to take the crown in the chicken category, while Starbucks dominated coffee, and Burger King and Culver's tied for top burger chain. The results show that consumers are valuing "consistency, reliability, and perceived value" amid rising prices and inflation, per Nation's Restaurant News.
In a unanimous vote, the Federal Reserve kept interest rates at a range of 3.5% to 3.75%, as expected. Market attention has centered less on the rate decision and more on the Federal Open Market Committee's policy statement, updated economic projections, and Warsh's post-meeting press conference. Against this backdrop, some Fed officials have suggested that rate hikes may be justified later this year amid inflationary pressures stemming from higher energy prices. All three major stock indexes ended the day down amid concerns about future hikes.
Apple plans to raise prices, Tim Cook told me in an exclusive interview. Hyperscalers have driven up the cost of memory and storage so much that iPhones, iPads, Macs, and basically every consumer device will soon have an AI tax layered on.
He didn't say how much prices will increase, when, or on what products. But the iPhone 18 Pro would likely have to jump more than $200 relative to the 17 Pro for Apple to maintain its margins. I'd expect to see Mac and iPad prices increase before the fall iPhone event.
Apple is clearly unhappy with the memory and storage companies. Their profits are surging thanks to phenomenal contract terms offered by AI players, terms that even Apple likely can't match, never mind thousands of smaller consumer tech companies.
After years of conscious efforts from streaming services to broaden representation on their platforms, a new UCLA study reveals diversity in streaming films took a sizable hit last year. Despite some notable outliers like Netflix's animated "Kpop Demon Hunters," non-white leading actors in streaming features dropped to 36% in 2025, down from 51% in 2024. The percentage of directors and writers of color also declined, while women directed less than 24% of the films analyzed by the report, the lowest level since the study began in 2022.
The San Francisco startup formerly known as Allbirds has changed its name to Smartbird and selected a new chief executive as the firm shifts focus from footwear to AI infrastructure. Nadia Carlsten will usher the company into its new era following the departure of former CEO Joe Vernachio, as Lily Yan Hughes becomes chair of the board. In April, the company said it would rebrand as NewBird AI. Carlsten's professional credentials include a stint as CEO at the Danish Centre for AI Innovation.
SpaceX shares closed down almost 5% on Wednesday, marking the stock's first daily decline after a record-breaking few days that saw its market cap surge to $2.65 trillion, overtaking Amazon and — briefly — LinkedIn parent Microsoft as the world's fourth-largest company by that metric. Elon Musk's rockets-and-AI firm has seen its stock jump about 40% since its record-breaking IPO on Friday. On Tuesday, the company also nailed down its $60 billion deal to acquire AI coding startup Cursor. Some are now suggesting Musk could soon merge SpaceX with his automaker, Tesla.
America may not be known as a soccer country, but a record number of U.S. viewers tuned in to watch the men's national team dismantle Paraguay. The USMNT romped to a 4-1 victory on Friday that drew a combined 27.5 million viewers to Fox and Telemundo, breaking the previous record of roughly 26.7 million for the 2014 and 2022 finals. The match beat Game 7 of a classic World Series between the Dodgers and Blue Jays, and equaled Netflix's Christmas Day NFL audience for Lions vs. Vikings.