PepsiCo said it will raise prices on some products to offset higher costs for fuel, aluminum and agricultural commodities. The company recently cut prices sharply on chips such as Lay’s and Doritos ahead of the Super Bowl after demand softened in North America, and beverage volumes fell 2%. PepsiCo also lowered its full-year profit outlook, trimming expected adjusted EPS growth to 2.5% to 3.5% from 5% to 7%.

The U.S. Supreme Court ruled in Trump v. Slaughter that presidents may remove Federal Trade Commission (FTC) commissioners without cause, overturning a 90-year precedent. In a separate case, Trump v. Cook, the court left in place job protections for Federal Reserve governors. The article argues the FTC’s independence is weakened and the agency becomes more vulnerable to political interference as it has pursued antitrust scrutiny of tech giants including Amazon and Meta. A former FTC commissioner said the ruling could turn the agency into an echo chamber for the president’s associates.

Multiple sources say Iranian-laid sea mines are present in the Strait of Hormuz, and clearing operations are expected to last 40 to 50 days. The waterway previously carried 20% of the world’s daily oil and LNG shipments, but traffic has recovered to only one-tenth of pre-war levels at 12–15 ships a day versus 120–140. The United States, Britain, Germany and France have deployed minesweeping capabilities, though progress on clearance has not been confirmed. With oil inventories in major economies near their lowest level since 2003, the risk of supply disruptions has materially increased.