Activist investor takes a $4 billion stake in PepsiCo, seeing a path to revive sales

PepsiCo is reporting better-than-expected earnings and revenue in the second quarter despite sluggish North American sales.

The Republican-controlled Federal Trade Commission has voted to dismiss a lawsuit against PepsiCo that the previous commission filed in the waning days of the Biden administration.

PepsiCo lowered its full-year earnings expectations Thursday, citing increased costs from tariffs and a pullback in consumer spending.

Food and beverage giant PepsiCo has agreed to meet this week with civil rights advocates from the National Action Network to discuss the company’s recent decision to roll back some of its diversity, equity, and inclusion initiatives.

The Rev. Al Sharpton has written to the CEO of PepsiCo giving the company three weeks to meet with him — or suffer a boycott — to discuss reversing the company’s recent move to do away with its diversity, equity and inclusion initiatives, according to a letter shared with The Associated Press.

Los Angeles County is taking on Pepsi and Coke for their role in plastic pollution.

Dr. Pepper is moving on up in the soda wars, knocking Pepsi from its spot.

Many Americans are in a sour mood about the economy for one main reason: Prices feel too high.

PepsiCo reported better-than-expected sales in the fourth quarter after hiking prices for its drinks and snacks, but it warned that consumers may be less willing to accept those increases as this year progresses.

Pollution is killing our ocean, which is filled with more than 150 million tons of plastic.

The NFL says Apple Music will be the new sponsor of the Super Bowl halftime show.

The NFL, Pepsi and Roc Nation announced Thursday, Nov. 12 that the three-time Grammy winner will perform at the 2021 Pepsi Super Bowl Halftime Show on Feb. 7 at Raymond James Stadium in Tampa, Florida. (Photo by Rob Grabowski/Invision/AP, File)LOS ANGELES – The Weeknd will bring his popular falsetto vocals to the 2021 Pepsi Super Bowl Halftime Show. “We all grow up watching the world’s biggest acts playing the Super Bowl and one can only dream of being in that position,” the singer said in a statement. This is an extraordinary moment in time and the Pepsi Super Bowl LV Halftime Show is going to be an extraordinary experience with an extraordinary performer.”Roc Nation and Emmy-nominated producer Jesse Collins will serve as co-executive producers of the halftime show. “We are thrilled to have The Weeknd join us in Tampa Bay on the Pepsi Halftime Stage,” said Brian Rolapp, the NFL’s chief media and business officer.

The company reported sales that topped forecasts, thanks in part to a double-digit increase in volume for its 7.5-ounce mini cans. The company also said that its Coca-Cola Zero Sugar brand posted double-digit sales growth. Coke changed the name of its Coke Zero product to Coca-Cola Zero Sugar a few years ago. The company said Friday that Coca-Cola Energy and Coca-Cola Energy Cherry will be available in the US in January and that there will be zero-calorie versions of them as well. Coca-Cola Energy debuted in Spain and Hungary earlier this year and the company said it is now available in more than 25 countries.

Pepsi's plan to reduce plastic waste includes ditching plastic bottles for cans. The company said Friday that its Aquafina-brand water will soon be sold in aluminum cans at US fast food and restaurant chains beginning as soon as next year. "Tackling plastic waste is one of my top priorities and I take this challenge personally," PepsiCo CEO Ramon Laguarta said in a statement. The company said Bubly, its line of flavored sparkling water, will now only be offered in cans. Pepsi said it has committed to using only recyclable, compostable or biodegradable packaging by 2025, and it's pledged to make new plastic bottles using 25% recycled material.