Every generation blames the one before, and all of their frustrations come beating on your door.
Thus begins the ’80s hit Living Years by Mike & the Mechanics, but when it comes to the workplace, Gen-Z could fairly say it’s talking about their generation. The newest entrants to the workforce are of an age cohort so different, so angry at their elders, that theyre shunning the 9-to-5 grind and upending traditional workplace norms. A new report explores the generational difference further and brands Gen-Z workers with a surprising new label for a truly digital-first group that lives life online: Theyre the toolbelt generation.
This label came about because of younger workers’ huge swing toward learning highly specialized blue-collar jobs, according to news site University Business. These jobs typically center around unique skill sets, like being able to weld or work with wood, or even computer programming. And to learn these skills, the news outlet notes that Gen-Z workers are shunning more traditional higher education routes, and looking at alternative options: Data shows that interest in going to trade schools has nearly doubled among teens and adults since 2017, mostly driven by Gen-Zers, although older people are also showing similar interest.
The report digs into why Gen-Z is leading this trend, and suggests the top three reasons are reduced confidence in higher education, a desire for financial freedom, and an indication that trades complement Gen-Zs focus on mental health. This tallies with plenty of other data, including a general mistrust of the education system and rising college degree prices. At work, it’s reflected in the unbossing trend that’s seeing many Gen-Z workers’ preference for just turning up at work and shunning promotions or additional responsibilities to better maintain their work-life balance. It also notes that financial freedom, better mental health, and the lack of a 9-to-5 grind may be more compatible with trade work than white-collar office roles.
Add the economic problems foisted upon Gen-Z by Baby Boomers hanging onto their homes for much longer, an increased gap between wages and the cost of living, and Gen-Zs hyperawareness of alternative ways of thinking and fresh points of view thanks to its social media use, and you have a potent recipe for a generational workplace shift.
University Business, reporting from an education point of view, quotes Tracy Lorenz, president of the for-profit Universal Technical Institute, an outfit that operates in 16 campuses across nine states and which offers technical, field-focused courses. In 2025, interest in skilled trades will continue to accelerate among young Gen-Z, who increasingly view these careers as a more practical and rewarding alternative to traditional career paths, Lorenz predicted. She also added another motivator for Gen-Zers, who are used to fast-paced online lives: For a growing number, the skilled trades may offer a faster path to a career that aligns with their interests and goals.
There may be another driver for Gen-Zers interest in pursuing jobs that require they work with their hands: AI. As time passes and this innovative technology improves, offering more potent powers with each new tool on the market, it’s clear that AI is capable of doing the work of many entry-level office workers, which may thwart more traditional bottom-up career planning, starting with internships and learning on the job. Gen-Z, as the age cohort now entering the workplace, is most at risk from AI’s short-term impact on entry-level jobs. Indeed, Gen-Zers are so worried about AI that they’re even pretending to be busy at work, a.k.a. task masking, just so that they don’t get the chop in favor of an AI tool.
Perceptions of the AI threat may swing young peoples interest toward different careers, especially since (at least for now) robotics arent advanced enough that AI can take on some of the kind of detailed physical work that a skilled human tradesperson can carry out. For example, precise robot welding machines have been used in car factories for decades, but a robot wouldnt be able to go to your house and weld an artistic, hand-designed new front gate.
Why should you care about this cultural change?
For one main reason: If youre trying to hire young workers in hopes of benefiting from their fresh thinking, you may find it harder to pique the toolbelt generations interest in coming to work for you, unless you can offer some of the same flexibile duties and freedom of expression that a trade can offer over a more narrowly defined white-collar office role.
By Kit Eaton
This article originally appeared on Fast Company’s sister publication, Inc.
Inc. is the voice of the American entrepreneur. We inspire, inform, and document the most fascinating people in business: the risk-takers, the innovators, and the ultra-driven go-getters that represent the most dynamic force in the American economy.
Hours after Paramount and UFC announced a billion-dollar rights deal, Dana White said he had yet to hear from his friend, President Donald Trump, on his thoughts about the fight company’s new streaming home.That was fine with White. The UFC CEO was set to travel to Washington on Aug. 28 to meet with Trump and his daughter, Ivanka, to catch up and discuss logistics on the proposed Fourth of July fight card next year at the White House.Trump said last month he wanted to stage a UFC match on the White House grounds with upwards of 20,000 spectators to celebrate 250 years of American independence.“It’s absolutely going to happen,” White told The Associated Press. “Think about that, the 250th birthday of the United States of America, the UFC will be on the White House south lawn live on CBS.”The idea of cage fights at the White House would have seemed improbable when the Fertitta brothers purchased UFC for $2 million in 2001 and put White in charge of the fledging fight promotion.White helped steer the company into a $4 billion sale in 2016 and broadcast rights deals with Fox and ESPN before landing owner TKO Group’s richest one yet a seven-year deal with Paramount starting in 2026 worth an average of $1.1 billion a year, with all cards on its streaming platform Paramount+ and select numbered events also set to simulcast on CBS.ESPN, Amazon and Netflix and other traditional sports broadcast players seemed more in play for UFC rights White had previously hinted fights could air across different platforms but Paramount was a serious contender from the start of the negotiating window.The Paramount and UFC deal came just days after Skydance and Paramount officially closed their $8 billion merger kicking off the reign of a new entertainment giant after a contentious endeavor to get the transaction over the finish line. White said he was impressed with the vision Skydance CEO David Ellison had for the the global MMA leader early in contract talks and how those plans should blossom now that Ellison is chairman and CEO of Paramount.“When you talk about Paramount, you talk about David Ellison, they’re brilliant businessmen, very aggressive, risk takers,” White said. “They’re right up my alley. These are the kind of guys that I like to be in business with.”The $1.1 billion deals marks a notable jump from the roughly $550 million that ESPN paid each year for UFC coverage today. But UFC’s new home on Paramount will simplify offerings for fans with all content set to be available on Paramount+ (which currently costs between $7.99 and $12.99 a month), rather than various pay-per-view fees.Paramount also said it intends to explore UFC rights outside the U.S. “as they become available in the future.”UFC matchmakers were set to meet this week to shape what White said would be a loaded debut Paramount card. The UFC boss noted it was still too early to discuss a potential main event for the White House fight night.“This is a 1-of-1 event,” White said.There are still some moving parts to UFC broadcasts and other television programming it has its hands in as the company moves into the Paramount era. White said there are still moving parts to the deal and that includes potentially finding new homes for “The Ultimate Fighter,” “Road To UFC,” and “Dana White’s Contender Series.” It’s not necessarily a given the traditional 10 p.m. start time for what were the pay-per-view events would stand, especially on nights cards will also air on CBS.“We haven’t figured that out yet but we will,” White said.And what about the sometimes-contentious issue of fighter pay? Some established fighters have clauses in their contracts that they earn more money the higher the buyrate on their cards. Again, most of those issues are to-be-determined as UFC and Paramount settle in to the new deal with $1.1 billion headed the fight company’s way.“It will affect fighter pay, big time,” White said. “From deal-to-deal, fighter pay has grown, too. Every time we win, everybody wins.”Boxer Jake Paul wrote on social media the dying PPV model which was overpriced for fights as UFC saw a decline in buys because of missing star power in many main events should give the fighters an increased idea of their worth.“Every fighter in the UFC now has a clear picture of what the revenue isno more PPV excuses,” Paul wrote. “Get your worth boys and girls.”White also scoffed at the idea that the traditional PPV model is dead.There are still UFC cards on pay-per-view the rest of the year through the end of the ESPN contract and White and Saudi Arabia have teamed to launch a new boxing venture that starts next year and could use a PPV home. White, though, is part of the promotional team for the Canelo Álvarez and Terence Crawford fight in September in Las Vegas that airs on Netflix.“It’s definitely not run it’s course,” White said. “There were guys out there who were interested in pay-per-view and there were guys out there that weren’t. Wherever we ended up, that’s what we’re going to roll with.”White said UFC archival footage “kills it” in repeat views and those classic bouts also needed a new home once the ESPN deal expires.Just when it seems there’s little left for UFC to conquer, White says, there’s always more. Why stop at becoming the biggest fight game in the world? Why not rewrite the pecking order in popularity and riches and go for No. 1 in all sports?“You have the NFL, the NBA, the UFC, and soccer globally,” White said. “We’re coming. We’re coming for all of them.”
AP sports: https://apnews.com/sports
Dan Gelston, AP Sports Writer
U.S. stocks are ticking higher on Wednesday after a rally spurred by hopes for lower U.S. interest rates wrapped around the world.The S&P 500 rose 0.4%, coming off its latest all-time high. The Dow Jones Industrial Average was up 364 points, or 0.8%, as of 10:20 a.m. Eastern time, while the Nasdaq composite was adding 0.3% to its own record set the day before.Stocks got a lift from easing Treasury yields in the bond market, as expectations reach a virtual consensus that the Federal Reserve will cut its main interest rates for the first time this year at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, though they risk worsening inflation.Stock indexes jumped in Asia in their first trading after Tuesday’s better-than-expected report on U.S. inflation triggered a jump in bets that a cut to interest rates is coming. Hong Kong’s Hang Seng leaped 2.6%, Japan’s Nikkei 225 rallied 1.3% and South Korea’s Kospi climbed 1.1%.Indexes also rose in Europe, though the moves were more modest after they already had the chance to trade on the U.S. inflation data the afternoon before. Germany’s DAX returned 0.8%, and France’s CAC 40 rose 0.7%.On Wall Street, the hopes for lower interest rates are helping to drown out criticism that the U.S. stock market has grown too expensive after its big leap since hitting a low in April.One way companies can make their stock prices look less expensive is to deliver strong growth in profits, and Brinker International added 0.8% after reporting stronger results for the latest quarter than analysts expected. The company behind the Chili’s brand said it’s seeing more customers coming to its restaurants, and it’s also making more profit off each $1 in sales.“Chili’s is officially back, baby back!” said CEO Kevin Hochman.HanesBrands climbed 5.4% after it agreed to sell itself to Gildan Activewear for $2.2 billion in cash and Gildan stock. The deal would combine North Carolinas’ HanesBrands with Canada’s Gildan, and Gildan’s stock that trades in the United States rose 11.6%.On the losing end of Wall Street were grocery stores and delivery companies, which fell after Amazon said it will offer fresh groceries to customers in more than 1,000 cities and towns through same-day delivery. Kroger fell 4.6%, and DoorDash dropped 3.6%, while Amazon rose 0.9%.Cava Group sank 17.2% after the Mediterranean restaurant chain reported weaker revenue for the latest quarter than analysts expected, though its profit topped forecasts. It also cut its forecast for 2025 growth in sales at restaurants that have been open for more than a year, where guest traffic has been roughly flat recently from year-ago levels.CoreWeave lost 13.7% after the company, whose cloud platform helps customers running artificial-intelligence workloads, reported a larger loss for the latest quarter than analysts expected.In the bond market, Treasury yields eased as expectations built for coming cuts to interest rates by the Fed.The yield on the 10-year Treasury fell to 4.23% from 4.29% late Tuesday and from 4.50% in mid-July. That’s a notable move for the bond market.President Donald Trump has angrily been calling for cuts to help the economy, often insulting the Fed’s chair personally while doing so.But the Fed has been hesitant so far because of the possibility that Trump’s tariffs could make inflation much worse. Lowering rates would give inflation more fuel, potentially adding oxygen to a growing fire. That’s why Fed officials have said they wanted to see more data come in about inflation before moving.On Thursday, a report will show how bad inflation was at the wholesale level across the United States. Economists expect it to show inflation accelerated a touch to 2.4% in July from 2.3% in June.
AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
Stan Choe, AP Business Writer
If the Swifties in your office are a little overstimulated and having trouble concentrating, grant them some grace.
It’s been a big week for Taylor Swifts biggest fans, with the masterful announcement of her 12th studio album The Life of a Showgirl, and theres only more to come when the full episode of Travis and Jason Kelces podcast, New Heights, is released on Wednesday at 7 p.m. ET.
Lets get you up to speed so you can be knowledgeable at the water cooler and prepared for new announcements on the pod.
How did Taylor Swift announce her new album?
Textbooks could be written about the brilliant marketing tactics that Swift employs. It all centers around the small details or easter eggs that her fans love to analyze ad nauseam.
On Monday, August 11, the Kelce brothers announced a mysterious guest on this weeks episode. Jasons shirt and Taylors silhouette gave the secret away. Additionally, the episode comes out on today, the 13th of the month. Thirteen has a special meaning for Swifties as it is Swift’s lucky number.
Later that same day, Taylor Nation posted a carousel of 12 images featuring Swift in orange outfits, which has taken on the meaning of her next era.
Swift’s website also got a makeover, becoming an orange glittering countdown to 12:12 a.m. ET on August 12. It was then her new album was officially announced.
What can we expect from Taylor Swifts appearance on New Heights?
The announcement might just be the tip of the iceberg. After her website momentarily crashed, fans were able to preorder The Life of a Showgirl on CD, cassette tape, or vinyl, and were told that the products will ship before October 13 of this year.
There is still no official release date, so that information could be in the episode.
Fans can also look forward to possibly seeing the official cover art. Even though podcasts are primarily an auditory medium, most podcasts these days are also on-camera experiences. The cover art is also locked on Taylor Swift’s website.
Fans will also most likely get a deeper look into Swift and Travis Kelce’s relationship. How do the two interact? What is it like falling in love in the spotlight?
How to listen to New Heights
Now that you are up to speed, you have some options about how to consume New Heights featuring Tay.
If you want the full visual experience, head to YouTube. If you prefer just to listen, you can catch it on Apple Podcasts, Amazon Music, Audible, Spotify, or Wondery.
Until then, shake it off, Swifties, and try to get some work done.
Doctors advise most patients on GLP-1 obesity drugs such as Wegovy and Zepbound to stay on them to keep the weight off, but as more U.S. insurers restrict coverage people are trimming costs by stretching doses or forgoing expenditures like vacations to pay for the medication out of pocket.
A half dozen doctors who spoke with Reuters said insurance coverage has tightened in 2025 as many employers drop it for the expensive GLP-1 drugs. While patients on these medications are counseled on proper diet and exercise, clinical trials show that people who stop taking these drugs are apt to regain weight.
Novo Nordisk’s Wegovy and Eli Lilly’s Zepbound are weekly injections with U.S. insurer list prices of more than $1,000 a month. For customers willing to pay cash, both drugmakers will ship directly for $499 a month if refills are purchased at fixed intervals.
“A significant number of my patients now pay cash,” said Dr. Nidhi Kansal, an obesity specialist at Northwestern Medicine in Chicago. “People find a way to scrounge up $6,000 a year, which sucks, because that’s a vacation or two.”
More than a billion people worldwide are obese, according to the U.N. World Health Organization, which has said the GLP-1 drugs could help end the obesity pandemic.
‘A KIND OF PURGATORY’
A tech industry job change for Yelena Kibasova, a 40-year-old who lives in the Minneapolis area, meant loss of coverage for her Zepbound prescription that helped her achieve and maintain a 150-pound (68-kg) weight loss.
GLP-1 patient Yelena Kibasova, 40, poses in this undated handout picture. [Photo: @morethanmyweight/Handout via Reuters]
“My new company does not cover GLP-1s, so now I am in a kind of purgatory,” Kibasova said. “I stopped doing my nails. I stopped doing my hair. Those things are not as important as me staying at a healthy weight.”
The doctors interviewed by Reuters said patients once leery about long-term obesity treatment are now more comfortable staying on a drug. The doctors said that conversations about temporary use happen only when a patient is trying to lose a certain amount of weight for issues such as fertility treatment or an organ transplant.
These obesity specialists said they are hopeful that competition will help bring down prices as new weight-loss options emerge, including new oral drugs that may be available next year.
Lilly last week announced trial results for its easier-to-manufacture pill, which was shown to cut patient weight by 12.4%, a few percentage points less than injected drugs. The company hopes to launch it in August 2026.
Kenneth Custer, Lilly’s head of cardiometabolic health, told Reuters the pill is being tested in several settings, including as a maintenance therapy. Custer declined to comment on how it might be priced.
MEDICATION FOR MAINTENANCE
Dr. Anne Peters, an endocrinologist at Keck Medicine USC in Los Angeles, said it is important that patients who reach their weight-loss goal not stop a prescription “cold turkey,” so the dose can be tapered down over several months. Peters said about a third of her patients are able to reduce their dose and maintain weight loss, while the rest need to stay on the medication.
An analysis of U.S. pharmacy insurance claims found that nearly two-thirds of patients who started on Wegovy or Zepbound in 2024 were still on the medications a year later.
Peters said she uses “every technique in the book” to secure insurance coverage for patients, but noted that a growing number of plans no longer pay for the treatments, and patients have to pay out-of-pocket.
U.S. pharmacies supply self-injection pens pre-loaded with doses of Wegovy or Zepbound. Lilly’s direct-to-consumer service also offers vials.
“Some patients can stretch out the vials longer. Get 15 mg, and then give a 10 mg dose for instance,” Dr. Peters said, noting that the drug’s instructions advise that such an approach should not be taken. Doses of 5 mg, 10 mg and 15 mg are recommended for weight-loss maintenance.
Patients also are turning to lower-cost compounded versions of the GLP-1 drugs, or are even mixing them at home with raw ingredients, both of which Peters and other doctors advise against due to safety concerns.
Dr. Angela Fitch, former president of the Centennial, Colorado-based Obesity Medicine Association and chief medical officer at online primary care provider Knownwell, said nobody wants to be on a medication, but patients who respond to a GLP-1 drug “really don’t want to go off of it when they recognize that it has such a value to them.”
Both Wegovy and Zepbound were first launched, under the brand names Ozempic and Mounjaro, as diabetes treatments. The class has been linked to a range of benefits, including improved heart health and less sleep apnea.
Fitch said the most common reason for her patients to stop taking a GLP-1 drug is loss of insurance coverage. She said her experience is that about 10% of patients are able to reach a target weight and maintain it without further treatment.
“We are in a dip where people are dropping coverage,” Fitch said, adding that the direct-to-consumer options are an “upper-ish middle-class thing.”
Deena Beasley, Reuters
Back-to-school season is officially upon us, and with it comes the usual influx of ad campaigns and last-minute trips to Target. This year, though, some parents are sensing a shiftand theyre sharing how back-to-school shopping is starting to feel untenably expensive.
On TikTok, several creators have voiced their concerns that back-to-school prices are becoming shockingly high this year, with some creators finding a pack of pencils for as much as $21 and Post-its for $19.
These reports come after the Trump administrations second major round of tariffs on more than 60 countries came into effect on August 7. Now, parents are rushing to get their shopping done earlier than ever as potential price hikes loom.
Parents report rising back-to-school prices
According to a July report from the National Retail Federation (NRF), two-thirds of back-to-school shoppers had already begun purchasing items for the upcoming school year as of early Julythe earliest start on the NRFs record. The NRF expects the average household to spend just under $860 on back-to-school shopping for K-12 students.
Consumers are being mindful of the potential impacts of tariffs and inflation on back-to-school items, and have turned to early shopping, discount stores and summer sales for savings on school essentials, Katherine Cullen, NRF vice president of industry and consumer insights, noted in the report.
Indeed, school supplies are one of the categories that experts expect to be hit the hardest by tariff-related price jumps. In an analysis published on August 5, the U.S. Chamber of Commerce examined Census Bureau data for May and June of this year and compared it to the same months last year, aiming to identify which product categories are bearing the brunt of tariff-based tax increases so far.
It found that, over the past year, tariff rates on typical back-to-school items like pens, pencils, and folders jumped from an average rate of 5% to 18%, while tariff rates on clothing and shoes have jumped from 14% to over 25%.
While much of this burden has been shouldered by wholesalers and manufacturers, the months ahead will see a larger share of these costs passed on to consumers, the reports author, Neil Bradley, wrote. Americans are paying the tariffs, but not all these costs are being passed onto consumersat least, not yet.
Customers are taking to TikTok to express fears that big-box retailers might be actively raising prices on back-to-school related items. Several creators have specifically noted discrepancies between tag prices and display prices on clothing items at Walmart or tags with no prices altogether, with some speculating that tariff-related price hikes could be to blame.
For Walmart’s part, the company clarified in a statement to Fast Company that, when shopping for apparel, the price posted at the top of the rack is the highest price of any item on the rack, and that this system is nothing new for the company. Per a press release, Walmart is offering 14 of the most common school supplies for lower prices this year than last year.
Tariff fears compound general financial anxiety
Parents are feeling the back-to-school sticker shock this year, as concerns around potential impending tariff hikes are also compounded by a more general sense of financial stress.
Based on the June Consumer Price Index reporta metric that measures overall cost of living in the U.S.inflation rose by 0.3% across the board in June, the highest monthly reading since January.
Another July study from Credit Karma found that 39% of surveyed parents reported that they were unable to afford back-to-school shopping this year (up from 31% in 2024), with 44% planning to take on debt as a result.
I feel as if [prices] keep going up, $125 is insane on just supplies, one TikTok user captioned her Walmart back-to-school haul.
Tell me why colored pencils are now 97 cents and no longer a quarter? another user added in a storytime on her shopping experience this year. I felt like I was about to pass outnot from the heat, but from these prices.
A federal judge is set to hear closing arguments Wednesday over whether to stop construction indefinitely at an immigrant detention center in the Florida Everglades dubbed “Alligator Alcatraz” as she considers whether it violates environmental laws.U.S. District Judge Kathleen Williams ordered a two-week halt on new construction last Thursday as witnesses continued to testify in a hearing to determine whether construction should end until the ultimate resolution of the case.The temporary order doesn’t include any restrictions on law enforcement or immigration enforcement activity at the center, which is currently holding hundreds of detainees. The center, which was quickly built two months ago at a lightly used, single-runway training airport, is designed to eventually hold up to 3,000 detainees in temporary tent structures.The order temporarily barred the installation of any new industrial-style lighting, as well as any paving, filling, excavating, fencing or erecting additional buildings, tents, dormitories or other residential or administrative facilities.Environmental groups and the Miccosukee Tribe want Williams to issue a preliminary injunction to halt operations and further construction, which they say threatens environmentally sensitive wetlands that are home to protected plants and animals and would reverse billions of dollars’ worth of environmental restoration.Plaintiffs presented witnesses Wednesday and Thursday who testified that the facility violates the National Environmental Policy Act, which requires federal agencies to assess the environmental effects of major construction projects.Attorneys for the state and federal government have said that although the detention center would be holding federal detainees, the construction and operation of the facility is entirely under the state of Florida, meaning the federal environmental review wouldn’t apply.The judge last week said the detention facility was, at a minimum, a joint partnership between the state and federal government.
Witnesses describe environmental threats
Witnesses for the environmental groups have testified that at least 20 acres (8 hectares) of asphalt have been added to the site since the Florida Division of Emergency Management began construction. They said additional paving could lead to an increase in water runoff to the adjacent wetlands, spread harmful chemicals into the Everglades and reduce the habitat for endangered Florida panthers.Amy Castaneda, the Miccosukee Tribe’s water resource director, testified Tuesday that nutrient runoff from the detention center could flow into tribal lands, changing vegetation growth. That could lead to fish kills and block humans and wildlife from moving throughout certain areas, she said.Marcel Bozas, director of the Miccosukee Tribe’s fish and wildlife department, said tribe members hunt and fish for subsistence and cultural reasons. Sustained human activity can drive away game animals, like whitetail deer, as well as protected species, like Florida panthers, wood storks, eastern black rails and bonneted bats, he said.
State official says Florida runs center
Department of Highway Safety and Motor Vehicles executive director David Kerner testified that the 1,800 state troopers under his command are authorized to detain undocumented migrants under an agreement with the U.S. Department of Homeland Security. He said the federal government doesn’t tell the state where to detain immigrants, and that the Everglades facility was built to alleviate overcrowding at federal immigration detention facilities, as well as state and county facilities with agreements to hold federal immigration detainees.Kerner couldn’t say how many of the “Alligator Alcatraz” detainees have been charged with violent crimes or whether any other sites besides the middle of the Everglades were considered for possible detention centers.Attorneys for federal and state agencies last month asked Williams to dismiss or transfer the injunction request, saying the lawsuit was filed in the wrong jurisdiction. Even though the property is owned by Miami-Dade County, Florida’s southern district is the wrong venue for the lawsuit because the detention center is in neighboring Collier County, which is in the state’s middle district, they said.Williams had yet to rule on that argument.
Facility faces a second legal challenge
In a second legal challenge to “Alligator Alcatraz,” a federal judge over the weekend gave the state more time to prepare arguments against an effort to get the civil rights litigation certified as a class action.U.S. District Judge Rodolfo Ruiz in Miami said he will only consider a motion by detainees’ lawyers for a preliminary injunction during an Aug. 18 hearing. He set a Sept. 23 deadline for the state to respond to the detainee’s class action request. The second lawsuit claims detainees’ constitutional rights are being violated because they are barred from meeting lawyers, are being held without any charges, and a federal immigration court has canceled bond hearings.The lawsuits were being heard as DeSantis’ administration apparently was preparing to build a second immigration detention center at a Florida National Guard training center in north Florida. At least one contract has been awarded for what is labeled in state records as the “North Detention Facility.”
David Fischer, Associated Press
Cava Group is not having a good week. On Tuesday, August 12, the fast casual restaurant chain announced its second-quarter results and a decline in net income to $18.4 million from $19.7 million year-over-year (YOY).
The drop brought Cavas earnings (NYSE: CAVA) to 16 cents per share. Notably, this was above Wall Streets predicted 13 cents per share, but other figures missed the mark, according to consensus estimates cited by CNBC.
Take Cavas revenue, which increased to $280.6 million from $233.5 million YOY. Despite the growth on paper, it fell short of the $285.6 million figure predicted. Then theres the companys same restaurant sales, which grew 2.1%, compared to a projected 6.1%.
This low single-digit increase represented a significant decline from 2024s fourth-quarter jump of 21.2% and even quarter ones 10.8%.
Protein sets a high bar
Cava attributes the 2.1% to menu price and product mix, while foot traffic was stagnant. Meanwhile, in a post-earnings report call, Cava CEO Brett Schulman attributed the slow growth YOY in part to 2024s successful launch of steak, our most significant protein launch in a number of years.
Investors dont seem to accept last years steak addition as a good enough excuse. But crucially, Cava also cut its sales outlook for the full year.
Cavas stock plummeted over 24% after-hours and into premarket trading on Wednesday morning. Its a significant turnaround from last November, when Cava led most of its competitors with an impressive 255% stock growth year-to-date for 2024.
Schulman also acknowledged an uncertain macroeconomic climate, which he described as a “fog,” noted Restaurant Business.
Still, the CEO had a full-speed-ahead attitude when discussing the second-quarter results.
He noted that Cava opened 16 new restaurantswith a total of 398and that long lines and warm welcomes in new markets gave him confidence that Cava will have 1,000 restaurants by 2032. He also highlighted the successful testing of chicken shawarma in Dallas and Tampa.
Schulman further shared that Cavas Project Soul prototype should be done this fall. The fast casual chain announced Project Soul in 2024, an initiative focused on warmer color palettes, comfier seating, greenery, and an overall more welcoming environment in its restaurants.
Its expected to launch across new restaurants starting in 2026. Cava will have to wait until then to see if the redesign parlays into another boost in same restaurant sales.
U.S. President Donald Trump will visit the John F. Kennedy Center for the Performing Arts on Wednesday to unveil its 2025 honorees for artistic excellence and tout a major renovation as lawmakers push to rename the venue for the Republican president.
In a post on his Truth Social platform on Tuesday, Trump teased the announcement, saying, “GREAT Nominees for the TRUMP/KENNEDY CENTER, whoops, I mean, KENNEDY CENTER, AWARDS.”
Trump also teased a physical overhaul of the center in Washington, D.C., saying he planned to restore it to the “absolutely top level of luxury, glamour, and entertainment.” No details were immediately available.
Since returning to power in January, Trump has sought to put his stamp on American culture and institutions to align them closer with his political and personal preferences.
His administration has ordered a review of some Smithsonian museums and exhibitions to “remove divisive or partisan narratives.” At the White House, Trump has added gold leaf to the Oval Office, paved over the Rose Garden, and embarked on plans for a $200-million ballroom.
Trump did not attend events at the Kennedy Center during his first term but has taken a keen interest in it during his second, vowing to overhaul an institution he and his “Make America Great Again” supporters view as too liberal.
He pushed out its chairman in February and took on the role himself, fired its longtime president, and installed his former ambassador to Germany, Richard Grenell, as interim president.
In a post on X, the Kennedy Center said its building which opened in September 1971 would undergo renovations thanks to Trump’s advocacy aimed at restoring its “prestige and grandeur.”
The arts facility also hinted at the 2025 winners: “A country music icon, an Englishman, a New York City Rock band, a dance Queen and a multi-billion dollar Actor walk into the Kennedy Center Opera House.”
Republicans recently voted as part of a sweeping tax cut and spending bill to earmark $257 million for the building’s renovation, conditional on the opera house being named after first lady Melania Trump.
Republican Representative Bob Onder in July introduced a bill that would rename the modernist building the Donald J. Trump Center for the Performing Arts.
Trump last visited the Kennedy Center in June for a performance of “Les Miserables,” where he and his wife were met with a loud mix of boos and cheers.
Ticket and subscription sales have fallen since Trump’s conservative takeover of the venue, and some shows, including the hit “Hamilton,” have canceled their engagements.
Under his leadership, the center has sought to add conservative-leaning programming, including a show that Grenell has described as a celebration of the birth of Christ.
Andrea Shalal, Reuters
The world’s biggest retailer of IKEA furniture said on Wednesday CEO Jesper Brodin was stepping down after eight years, to be succeeded by Spaniard Juvencio Maeztu, the first non-Swede to lead the group.
Maeztu takes the top job at Ingka Group as the Swedish retailer grapples with U.S. tariffs, wars and geopolitical tensions that risk disrupting its operations spanning 31 countries from Europe to China, India and the United States.
Brodin, CEO since 2017, said his decision to step down was not easy, but that it was the right time to do so. Maeztu is to start in the new role by November 5, with Brodin staying at the company until the end of February to ease the transition.
Deputy CEO and chief financial officer since 2018, Maeztu, 57, started at IKEA in 2001 as manager of the Alcorcon store in Madrid, later managing the Wembley store in London, before a six-year stint as CEO of IKEA India.
“We’ve been riding through quite some storms together pandemic, geopolitical issues, war, etcetera,” Brodin, 56, told Reuters.
“So in a way I feel proud of the things we have achieved but also super confident that the IKEA house is in good order and we’ll be able to take off for the future with Juvencio.”
Under Brodin, Ingka Group invested heavily to improve online shopping for IKEA, driving the retailer’s online sales up. Ingka also set new emissions reduction targets and reported in January that emissions fell by 30.1% from its 2016 baseline.
Brodin said the appointment of Maeztu, who grew up in Cadiz and does not speak Swedish, shows IKEA’s global culture works.
The incoming CEO is setting off on a “listening tour” of its big blue stores around the world, starting in Asia, as he builds his strategy to grow the company which last year reported weaker net profit and revenue after slashing prices.
“I am fully determined to make IKEA grow and to really be relevant for many millions more consumers around the world,” Maeztu told Reuters. He has said tariffs make it harder for IKEA to keep prices low.
Privately-held Ingka Group will report sales figures in mid-October for its financial year ending August 31. As the biggest franchisee, Ingka sells IKEA products manufactured by brand owner and franchiser Inter IKEA.
Helen Reid, Reuters
