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President Donald Trump has made the renovation of the Reflecting Pool on the National Mall a top priority in his second year back in the White House. View More

David Hearn of the USA competes in the Men's C1 whitewater canoeing final of the 2000 Summer Olympics on Sept. 18, 2000 at Penrith Whitewater Stadium in Penrith, Australia. David Madison | Getty Images U.S. Olympian canoeist David Hearn was indicted by a grand jury in Washington, D.C., for destruction of property in connection with allegedly ripping up sealant in the Lincoln Memorial Reflecting Pool, U.S. Attorney Jeanine Pirro said Thursday.Pirro said Hearn on June 19 willfully and "violently" damaged a two-square-foot piece of sealant at the pool, whose renovation has been a top priority for President Donald Trump this year.Hearn, 67, faces a possible maximum sentence of 10 years in prison if convicted of the felony charge, which was filed in the District of Columbia. He was arrested on June 19 on a misdemeanor charge.The three-time Olympian told The Washington Post after his arrest that he had been cycling when he stopped at the Reflecting Pool to look at it. While there, he said, he reached into the water to feel what a partially detached piece of blue liner felt like, after which he was arrested."I didn't vandalize anything," Hearn told The Post. "I didn't destroy or break or peel anything. By the time I realized what was going on, I was being put in handcuffs." U.S. Attorney for the District of Columbia Jeanine Pirro (C) speaks during a press conference at the U.S. Attorney's Office for the District of Columbia on July 2, 2026 in Washington, DC. Anna Moneymaker | Getty Images But Pirro, speaking at a press conference, said, "This was a deliberate act to damage the Reflecting Pool at the National Mall that members of the National Park Service actually have worked hard to restore, and have witnessed.""National Park employees observed Hearn actually forcefully and violently pulling up and removing the bottom liner with both hands," Pirro said. "According to witnesses, Hearn damaged approximately two square feet of sealant from the bottom of the pool," the prosecutor said.When a Park Service employee told Hearn to stop, he shouted at her and told her she cared too much about the Reflecting Pool, according to Pirro. Read more CNBC politics coverageTrump wants delay but E. Jean Carroll wants to gets paid — now: Court filingTrump: Others invest my money, I'm profiting because of stock marketSouth Korean government discriminated against Coupang, House report finds Hearn's lawyers, Norm Eisen and Mary Dohrmann, in a statement said, "Davey Hearn is innocent.""These charges are outrageous and should be alarming to every American," the attorneys said." This indictment reflects the Administration's effort to shift blame for their own failures. On the eve of our nation's Independence Day, Americans should be deeply concerned by the misuse of government power against an ordinary citizen based on a concocted narrative. The justice system exists to determine facts, not to provide political cover."Pirro said the Reflecting Pool is one of the national landmarks and monuments "that belong to all of us."And they must be protected for generations to come," she said.The prosecutor said her office was handling about six other cases involving alleged vandalism at the Reflecting Pool."Some of them will be misdemeanors, and some of them could be less like a violation, but we're reviewing every case based upon the evidence and reviewing all of the reports, and right now it's about another half dozen misdemeanors," Pirro said.A reporter asked Pirro how she squared charging Heard with Trump's pardon of more than a thousand people who participated in the Jan. 6, 2021, riot at the U.S. Capitol, which led to the postponement of a joint session of Congress that was confirming Trump's loss in the 2020 presidential election to former President Joe Biden. "Are you really talkin about Jan. 6?" Pirro asked."Yes," the reporter replied."I'm not," Pirro said. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Legacy apparel brands including VF Corp., Levi's, and Columbia are investing more heavily in women's products and marketing. View More

In this articleXRT.SPXKSSFollow your favorite stocksCREATE FREE ACCOUNT Shoes are seen for sale at a Vans store, a brand owned by VF Corporation, in Manhattan, New York City, U.S., May 20, 2022. Andrew Kelly | Reuters Move over, guys.Iconic apparel brands that have historically been more popular with men are turning to women to help drive a new leg of growth. The CEOs of Timberland owner VF Corp., Levi's, and Columbia Sportswear have all recently highlighted women as a key focus as they look to boost revenues and broaden their customer bases. The opportunity is sizable. Needham analyst Tom Nikic estimates the U.S. women's apparel market is roughly 70% larger than the men's apparel market. In other words, women spend substantially more on clothing than men. "If you're skewing very heavily towards men, then you're essentially leaving behind half the population," Nikic told CNBC. The efforts at VF Corp., Levi's, and Columbia reflect a broader trend across the apparel industry as brands search for growth in an increasingly competitive market, according to analysts. While these companies have sold women's clothes and shoes for decades, executives are increasingly treating female consumers as a strategic priority rather than simply another customer segment. For investors, the appeal is straightforward. Winning over more female shoppers allows brands to expand their addressable market without having to embark on a radical pivot. "There was no good structural reason why some of these brands should skew as heavily male as they did," Nikic said. "If they can successfully grow with women while maintaining strength with men, that's a significant opportunity."VF Corp. CEO Bracken Darrell, who took over three years ago to reinvigorate the company after a period of declining sales, described women as a major "unlock" for several of its brands, including Vans, The North Face, Timberland, and shoe maker Altra Running. Darrell said the opportunity stems from both women's growing purchasing power and their influence on broader consumer trends. "Women have influenced men's choices in a bigger way than a lot of us who ran predominantly men's brands gave credit for," Darrell said in an interview. "We always had opportunities across all our brands that were bigger for us if we tried to get in with women." VF is incorporating that focus into more product development across its portfolio. Vans, a hallmark of skateboard culture, has introduced more women's apparel, pearlized footwear and shoe jewelry. Known for its iconic yellow boot, Timberland has expanded its lineup with products such as its Stone Street platform boots and other women's-focused silhouettes, leaning into elevated designs as it looks to broaden its appeal among female shoppers.At The North Face, the company has collaborated with Kim Kardashian's Skims and other fashion brands, while also expanding its offerings for female outdoor enthusiasts. Its Advanced Mountain Kit line, one of the brand's premium performance collections, now includes a full women's assortment. The North Face is the company's "single biggest opportunity with women," Darrell said. It's also the company's largest brand by revenue, accounting for roughly 42% of its $9.6 billion in fiscal 2026 sales. "We believe North Face can double from $4 billion to $8 billion over some time frame," he said, estimating that women could account for more than $2 billion of that potential growth. The focus on women could also play a role in helping Vans return to sustainable growth, according to Jefferies analyst Blake Anderson. He said younger women can act as "strong brand advocates and trendsetters," helping drive awareness through social media and online shopping channels. Vans brand has struggled for years, predating Darrell's arrival. But revenue trends are improving. Sales on a constant-currency basis fell 11% in VF's fiscal year ended in March, compared with 15% and 27% in fiscal 2025 and 2024, respectively. For 2027, the company projects a mid-single decline. In fiscal 2026, VF broke a streak of three consecutive years of declining companywide sales, with The North Face and Timberland both growing 5% on a constant-currency basis. It's guided for another year of growth in fiscal 2027. So far in Darrell's tenure, shares of VF are down roughly 7%, when including dividends. That trails State Street's popular retail ETF known as the XRT, which is up 38% in that timeframe. Over the past year, though, the stock has trounced the XRT, returning almost 36% versus roughly 10%. Levi Strauss & Co. President and CEO Michelle Gass rings the opening bell at the New York Stock Exchange (NYSE) in New York City, U.S., April 5, 2024. Andrew Kelly | Reuters Levi's has emerged as one of the clearest examples of how expanding into women's apparel can translate into growth. Former Kohl's CEO Michelle Gass became Levi's chief executive in January 2024 after a year as president. She was tasked with accelerating growth and advancing the company's transition to a direct-to-consumer-first business.As part of that strategy, Gass made attracting female shoppers a key priority through the company's "Win With Her" initiative, which first launched in Europe and has since expanded more broadly throughout the business. On CNBC's "Mad Money" earlier this year, Gass told Jim Cramer that women's apparel now accounts for 38% of Levi's business, up from roughly a third in 2022. She is targeting a 50-50 revenue split between men and women. "Women's was up 11% for [2025], and we have a long way to go between 38% and 50%, and that's incremental business for us," Gass said. On the company's 2026 first-quarter earnings call, Gass said women's apparel grew 13% in the quarter, compared with 7% growth in men's. In its 2025 annual report, Levi's described the category as a "powerful growth engine," and noted that it carries higher gross margins while remaining underpenetrated. The company has expanded beyond denim into dresses, skirts, tops and lifestyle apparel. It's also increased its marketing efforts, including its high-profile partnership with Beyoncé in 2024. Levi's has also changed how it merchandises its stores. Women's apparel is now featured prominently at the front of many U.S. locations, supported by mannequins and lifestyle displays designed to showcase complete outfits. Nikic, the Needham analyst, said Levi's demonstrates how brands can grow their women's businesses without sacrificing momentum among male shoppers. "The women's business is performing even better, but men's product has continued to sell well," he said. "When you can get balanced growth across both men and women, it obviously does wonders for your P&L and for your stock price." Shares of Levi's have returned 66%, including dividends, since Gass became CEO in January 2024. In that stretch, the stock has significantly outperformed the XRT's 28% return. It's also narrowly topped the S&P 500's total return of 58%.Levi's reports its next set of quarterly earnings on Wednesday. ULAANBAATAR, MONGOLIA - 2025/04/24: American sportswear brand Columbia store in Ulaanbaatar, Mongolia. Budrul Chukrut | Sopa Images | Lightrocket | Getty Images Columbia Sportswear is pursuing a similar strategy.At a recent investor conference, CEO Tim Boyle pointed to the success of Columbia's Amaze Puff Jacket, a stylish winter coat, as an example of how the company is broadening its appeal beyond clothes and shoes popular for hiking, fishing and more. "It's highly fashionable," said Boyle, who's been CEO since 1988. "It brought a lot of new people into the brand." The jacket generated significant social media attention and helped introduce Columbia to consumers who may not have traditionally considered the company a fashion brand, Boyle said. The company has continued to build on that momentum. During an appearance on CNBC's "Mad Money" in May, Boyle highlighted women's outerwear as a major area of focus, and said Columbia plans to expand the Amaze collection into additional seasons. Columbia expects sales to grow between 1% to 3% this year, after falling 3% last year on a constant-currency basis. Over the past year, the stock has returned about 1%, trailing the XRT's 10% advance. The stock performance across the group has been mixed, but their pursuits are aligned. "Your average woman spends almost twice as much on their closet annually as the average man in the U.S.," Nikic said.Darrell said that's an opportunity the company can no longer afford to overlook."You can't look away from the fact that more than 50% of the population is women, so that's always been a big opportunity for these brands," he said. "Investors should be excited to know that we're not ignoring them, we're going after them." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Jersey Mike's has nearly 3,300 locations, making it the second-largest hoagie sandwich chain in the U.S. behind Subway. View More

In this photo illustration, a Jersey Mike's cup is displayed outside of Jersey Mike's restaurant on April 21, 2026 in Los Angeles, California. Justin Sullivan | Getty Images Sandwich chain Jersey Mike's filed for an initial public offering on Thursday, reporting that its same-store sales cumulatively climbed 50% from 2020 through 2025.Jersey Mike's plans to trade on the New York Stock Exchange under the ticker "JMKE."The company reported net income of $55 million on total revenue of $724 million last year, up from net income of $5 million on revenue of $653 million in 2024, according to the regulatory filing.Last year, Jersey Mike's annual system sales, which includes both company-owned and franchised locations, reached $4.3 billion, up 13% from the previous year.Its same-store sales increased 3% over the same period; the metric tracks sales growth at restaurants open at least a year. Broadly, the restaurant industry has seen same-store sales weaken over the last two years as consumers dine out less often to save money.Jersey Mike's filing comes as many companies feel more optimistic about going public, especially following the blockbuster SpaceX IPO. While the number of IPOs that have been priced so far this year lags behind the year-ago period, the number of companies that have filed to go public is up, according to Renaissance Capital. Artificial intelligence giants OpenAI and Anthropic are among the hopefuls that have submitted confidential filings with the Securities and Exchange Commission. A growing business Today, Jersey Mike's has nearly 3,300 locations, making it the second-largest hoagie sandwich chain in the U.S. behind Subway. About 2,000 of those restaurants were opened in the last decade. Nearly all of Jersey Mike's restaurants are franchised, so the bulk of its revenue comes from royalties and advertising fees.Despite a sluggish industry backdrop, the company announced in April that it had confidentially filed for an initial public offering. More than a year earlier, Blackstone bought a majority stake in Jersey Mike's in a deal that reportedly valued the chain at roughly $8 billion.After the transaction closed, Jersey Mike's tapped Charlie Morrison as its latest chief executive. Morrison previously led Wingstop for more than a decade, including during the chicken wing chain's public market debut.Jersey Mike's founder Peter Cancro began working at a Jersey Shore sandwich shop at age 14 in 1971. Four years later, he pulled together enough money to buy Mike's Subs. Cancro later changed the name and began franchising the chain. Following the deal with Blackstone, he has retained "meaningful equity" in Jersey Mike's and holds a seat on its board, according to a letter to fellow shareholders included in the regulatory filing."[Blackstone's] experience with leading franchisors aligns with the values and long-term mindset that have shaped Jersey Mike's and will help continue our expansion in the United States and abroad," Cancro wrote. "I remained involved in the Company now and in the future." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Gen Z defines the American Dream as having financial stability and being happy. Marriage could help them reach both of those goals, but many aren't sold on it. View More

Traditionally, achieving the American Dream usually means going to college, getting married, buying a house and then having kids.Gen Z may be more inclined to skip the marriage part, according to a recent CNBC and SurveyMonkey American Dream Pulse Survey. Among the survey's 4,130 respondents, getting married was one of the least-important markers for feeling like they'd achieved the American Dream, lagging far behind achievements like financial stability, owning a home and simply being happy.Just 37% of Gen Z respondents saw getting married as integral. That's a departure. According to Pew Research Center data, two thirds (67%) of U.S. high school seniors surveyed in 2023 said they'll most likely get married some day, but that's down from 80% who reported the same in 1993.Gen Zers are young, currently ages 14 to 29, with plenty of time to figure out the rest of their lives. But their relative disinterest in marriage, if it sticks around, could create problems for them later in life, ranging from loneliness to financial difficulties, suggest psychologists and money experts. The Next DreamWelcome to The Next Dream, a CNBC Make It series exploring how the modern-day pursuits of success and happiness are reshaping our lives 250 years after America's first dream was born.Here's the latest:Married Americans tend to be wealthier and happier. Gen Z is forgoing the institution anyway'This bargain is eroding': Inside the youngest generations' view of the American DreamSome renters say homeownership isn’t part of their American Dream: Renting is ‘really freeing for me’These families have been in business for 100 years—they say the American Dream isn't what it used to be51% of U.S. adults say the American Dream is out of reach for most people right now: CNBC survey Single people under age 35 in the U.S. have a lower median net worth — roughly $22,000 for men and $9,000 for women — than similarly aged married couples, whose collective median is nearly $114,000, according to U.S. Census Bureau data. And 61% of married Americans say they're "thriving" in life, compared with just 45% of those who have never married, according to a 2023 Gallup Poll."Data are really so clear that if you have somebody who loves you and somebody you love, you're so much better off in life," says John Gottman, a clinical psychologist, relationships expert and co-founder of The Gottman Institute, a Seattle-based couples counseling organization.Those who do partner up are waiting longer. Many Gen Zers see marriage as more of a "capstone" experience than a "cornerstone" of their lives, Gottman says. In other words, they're more likely than previous generations to want to accomplish at least some big life milestones on their own, before feeling ready to settle down and get married — or even prioritize their own happiness and satisfaction over the pursuit of marriage.Here's why, according to some Gen Zers, and what psychology and money experts say it means for the future of the American Dream. Why some Gen Zers are foregoing marriage Getting married may not directly encourage financial stability, homeownership or general happiness, but metrics like household wealth and reported life satisfaction are higher among married Americans. Still, marriage rates have plunged among young adults since 1980, according to Pew — and the U.S. has some of the least-happy young adults in the world, according to the World Happiness Report 2026, released on March 19.A potential culprit: Gen Z may be lonely. Only 17% of U.S. adults under age 30 feel "deeply connected to at least one community," found a poll from The Institute of Politics at Harvard Kennedy School, published in April 2025. Less social and community engagement means fewer chances to find a future partner who shares your values and makes you happy, which may help explain the country's falling marriage rates.A gendered split in education — and the economic opportunity that often comes with it — also contributes to Gen Z's reticence to marry. Young women increasingly outpace men in bachelor's degree attainment and economic opportunity for men without college degrees has deteriorated, shrinking the pool of men that women are more likely to see as suitable husbands.Some men have turned toxic toward women in response, says Gottman. "We've seen the rise of a lot of misogyny recently," he says, referencing the so-called "manosphere," a catch-all term for online communities and influencers who decry feminism and encourage traditional gender roles in relationships. The trend certainly doesn't help the country's falling marriage rates, Gottman notes. We've seen the rise of a lot of misogyny recently.John GottmanClinical psychologist and relationships expert Against that backdrop, it's no surprise that some young women could opt to pursue financial stability on their own. Until the 1970s, women needed a male guarantor, often a husband, to buy homes and get credit cards. Since then, their individual economic prospects have improved, and the gender wage gap has narrowed for some: Women ages 25 to 34 now earn $0.95 for every dollar a man in that age range makes, up from about $0.74 in 1982, according to Pew's most recently available data, published in March 2024.Isabel Crawford, a 25-year-old DJ and event photographer in New York City, says she grew up in Philadelphia assuming she'd go to college, get a good job and get married because that's what her parents, grandparents and family friends all did. Moving to New York and witnessing unmarried women have successful careers and fulfilling lives has since inspired her to boycott marriage entirely, she says."Is it written on paper that women have to sacrifice [in marriage]? No, but they continuously do it, time and time and time again," says Crawford. Marriage may not be the American Dream, but it often helps Plenty of young Americans are still getting married, including some who previously rejected the notion. They're just doing it later in life than previous generations.Sarah Wu, a 29-year-old public relations professional in New York, grew up not wanting to get married — in part, because she struggled with her self-worth as a Chinese-American person in a predominantly white New Jersey suburb, she says. She tied the knot on June 27 after a journey of self-discovery — and meeting the right person, she notes. Finding her partner helped her realize that her negative view of marriage was a defense mechanism to protect herself from the pain of rejection, she says.Wu's timing aligns with her peers. The median age for Americans when they first get married was around 28 for women in 2025 and 31 for men, compared with 22 for women and 24 for men in 1980, according to U.S. Census Bureau data. Sarah Wu got married in New York's Catskill Mountains on June 27.Sarah Wu However, delaying marriage could have longer-term consequences for individuals, like waiting to access financial advantages like joint tax filing, shared health insurance and Social Security benefits. Getting too set in your ways financially before you get married could make it more difficult to accomplish shared goals with your spouse, says Douglas Boneparth, a certified financial planner and co-author with his wife Heather of "Money Together," a book about how couples can navigate the emotional and psychological aspects of money."If you're creating financial silos or operating too independently from a financial perspective, you're actually doing yourself a disservice," says Boneparth. Often, he adds, big goals "require more teamwork."But worrying about the future of your marriage depends on having one in the first place, and some Gen Zers say they can achieve their version of the American Dream on their own. Crawford, for example, says she anticipates enjoying more financial freedom in her 30s, as she grows her career. She gets much of the emotional fulfillment she needs from her platonic relationships, she adds."I've experienced so much from the women in my life, and I just can't really imagine a man ever comparing to that, or being able to offer me, truly, the endless love that my friends offer me," says Crawford.Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBC's new online course, How To Talk To People At Work, expert instructors share practical strategies to help you use everyday conversations to gain visibility, build meaningful relationships and accelerate your career growth. Sign up today! Take control of your money with CNBC Select CNBC Select is editorially independent and may earn a commission from affiliate partners on links.What credit score do you need to qualify for the Chase Sapphire Preferred Card?How much should a honeymoon cost? Here’s the average price tag — and how to pay for yoursThe best hardship loans for bad credit of July 2026You can expect gas prices to remain elevated. Here’s how to saveCan you pay student loans with a credit card? VIDEO9:0509:05How I bought a $575,000 duplex at age 27 by myselfMillennial Money

To develop a boutique Grade A commercial office project on the site, with an estimated Gross Development Value of ?300 crore View More

Defense tech startups are raising record amounts on both sides of the Atlantic amid a flurry of investment in the sector. View More

"Quantum Systems" will be at its booth at the Berlin ExpoCenter Airport during the International Aerospace Exhibition (ILA). In the foreground is a model of Quantum Systems' Pulse P19 multirole flight system.Sebastian Christoph | Picture Alliance | Getty Images Autonomous defense startup Quantum Systems raised $1.2 billion in a Series D funding round, the company announced on Thursday, giving it a valuation of around $8 billion on a post-money basis.It comes amid a flurry of activity in the defense sector as investors race to throw cash behind a new generation of companies developing military technology. Quantum Systems, which is developing unmanned systems for land, air and sea, said the funding round was co-led by Blackstone, Noteus, Airbus and Advent, with participation from Bond, Fidelity Management and Research Company, Balderton and HV Capital. "Defense will be defined by autonomous systems that can operate together across domains in real time," Florian Seibel, co-CEO and co-founder of the German start-up, said in a statement. "With Quantum Systems, we are building a next generation neo prime that has the potential to disrupt defense as we know it today." The company is profitable, Seibel added.The new capital will be used to expand production capacity, strengthen supply chain resilience, scale delivery across allied markets, and fund continued investment in software and AI capabilities.Defense tech companies have already raised a record $17.4 billion so far this year, according to Dealroom, far exceeding the $11.2 billion the sector picked up in 2025.The biggest raises this year have come from startups in the U.S. Anduril picked up $5 billion in May, while Saronic Technologies and Shield AI raised $1.8 billion and $2 billion in March, respectively. In Europe, Helsing is set to raise $1.2 billion at an $18 billion valuation, the Financial Times reported in May. Helsing has been approached for comment. Stark picked up 500 million euros ($572 million) in a funding round in June, led by Sequoia Capital and Peter Thiel's Founders Fund."A structural shift in the European defense market has created significant demand for capital to support the sector's development and the adoption of advanced technologies," said David Kaden, senior managing director at Blackstone.Deployed in Ukraine, the company's systems executed over 19,000 missions in the country in 2025, it said. Quantum Systems has expanded its production footprint across Germany, Ukraine, the United States, Australia, Romania, the United Kingdom and the Baltics. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Despite record beef prices, Americans aren't giving up steak. Consumers are treating beef as an affordable luxury and prioritizing it for special occasions. View More

watch nowVIDEO2:5502:55Here's why beef prices keep rising, and why consumers keep buyingFood & Beverage As Americans prepare to fire up their grills for the Fourth of July, they're facing some of the highest beef prices on record. Yet despite the sticker shock, demand for beef and steak are holding up. Beef prices have surged after the U.S. cattle herd shrank to its smallest size in decades following years of drought, high feed costs and herd liquidation. The resulting supply crunch has driven up cattle prices and, ultimately, the cost of beef at grocery stores and on restaurant menus.While prices eased slightly in May after reaching record highs in the spring, consumers are still paying near-record prices for ground beef and steaks. The average price of ground beef was $6.75 per pound in May, according to U.S. Bureau of Labor Statistics data, up nearly 13% from a year ago and just below April's record high of $6.90. Beef steak prices averaged $12.80 per pound, up 16% from a year earlier and the second-highest level on record.But so far, shoppers don't appear willing to abandon their summer grilling traditions. The resilience offers another clue into consumer behavior at a time when investors are closely watching for signs of whether and where high prices are causing shoppers to pull back. Cattle are herded in a stable on June 05, 2026 in Hamilton, Texas. Brandon Bell | Getty Images "We are seeing customer demand for steaks remain quite high, with a shift towards more premium and organic options," a Kroger spokesperson told CNBC. "We've also seen beef continue to be a preferred choice during recent holidays, including Easter and Memorial Day."Beef has generated the largest dollar growth of any food category ahead of Independence Day, with sales rising roughly $352 million compared to last year, according to data from NielsenIQ."Consumers are entering the holiday with discipline, making more trips but with clear intent behind each one," the consumer research firm said in a June report. Steak and quality win As demand for beef holds up, consumers have shown clear preferences within the segment.NielsenIQ said consumers increasingly view steak as the centerpiece of special occasions: an "affordable luxury" where they're willing to pay more for quality and the experience, while finding savings elsewhere when they shop for groceries.The data also suggest consumers aren't simply searching for the cheapest protein. Instead, many are placing a greater emphasis on quality. Shoppers reported increasing favor toward quality claims such as USDA Prime (42%), no added hormones (40%), grass-fed (37%), and no antibiotics ever (36%) when purchasing meat, according to NielsenIQ."Shoppers are looking past the label and into the story behind the meat," the firm said. "Claims tied to quality and sourcing are gaining ground as buyers seek confidence." The demand has also benefited others in the industry, like Omaha Steaks, which told CNBC that consumers continue to prioritize gifting steaks even as they cut back elsewhere. Cuts of beef are displayed at Handy Market on May 14, 2026 in Burbank, California. Justin Sullivan | Getty Images "Customers are still celebrating dad with premium proteins, but they're also being thoughtful about value and versatility," said Nate Rempe, president and CEO of Omaha Steaks last month as Father's Day approached.The company said it has seen continued growth in its USDA certified tender top sirloin filet, a recently introduced value cut, with sales up 25% in the weeks heading into Father's Day this year compared to 2025.Restaurants have also reported seeing benefits from the dynamic. LongHorn Steakhouse, among others, has seen a rise in diners seeking out steaks. "The guests know they're getting high quality steaks when they come to LongHorn [Steakhouse]," said Rick Cardenas, CEO of the chain's parent company Darden Restaurants. "They get a great value. And it doesn't hurt that there's a high beef inflation in the market. And so the relative value looks a little bit better."The key question for investors is how long the dynamic can last. Rebuilding the U.S. cattle herd could eventually increase beef supplies and ease prices, but that process takes years without the aid of imported supply. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Gas station chains led by Buc-ee's are coming closer to rivaling America's big box stores in size, and Dolly Parton is getting in on the retail trend. View More

In an aerial view, the Buc-ee's convenience store is seen on June 12, 2024 in Luling, Texas. The Texas-based convenience store and gas stop, Buc-ee's has become the world's largest convenience store with over 100 gas pumps and a 75,000 square feet store. Brandon Bell | Getty Images As the Fourth of July holiday approaches and Americans head to the beach, mountains, or someplace in between, they'll more than likely see something that they wouldn't have seen just a few years ago: the mega-gas station. Gas stations have been reinventing themselves for the past decade with food offerings that rival many established grub-only chains. But now they are doing something else: growing in physical size and attracting legions of fans along the way. Buc-ee's is the heavyweight in the growing gas station phenomenon with over 50 locations in 13 states.Sally McQuinn drove from her home near Roanoke, Virginia, to Dayton, Ohio, to celebrate the opening of the company's first Ohio location. "I'm a super fan of Bucs for sure," McQuinn said, using a nickname with the familiarity of an old friend. She added that she got her photo taken with the chain's owner, who visited the Dayton opening. On a recent summer evening at the Dayton Buc-ee's, almost all of the station's 120 pumps were occupied, but the real action was happening in the store. There, employees chant "Brisket on the Booooard" every time fresh brisket moves into a carving station. And customers snap up sandwiches of brisket, three-meat sandwiches, and anything else. The largest Buc-ee's, in Texas, is over 75,000 square feet. For comparison, gas stations like Sheetz and Wawa usually are around 7,000 square feet. A low-end Walmart comes in at around 150,000 square feet. "The traditional gas station is rapidly transforming from a transactional stop for fuel into a sprawling, multi-faceted retail and travel destination. This evolution is driven primarily by razor-thin profit margins on gasoline, forcing operators to leverage fuel as a loss leader to draw customers into high-margin convenience stores and food service," said Sudip Mazumder, senior vice president, retail industry lead, North America at Publicis Sapient, a digital business transformation and marketing consultancy. Other factors fueling this growth include changing consumer expectations for cleaner, more experiential stops, the need to accommodate electric vehicles requiring longer charging times, and the long-standing need to cater extensively to professional truckers. Gas stations have been growing in size and morphing into all-in-one travel centers for some time. But the arrival of Buc-ee's supercharged the trend and spawned imitators like Wally's, which has three 50,000-square-foot locations in the Midwest, with plans for more. The stores, which have a Midwest vibe, have amenities like a popcorn bar and an assortment of jerky to rival Buc-ee's.   Whether intentional or not, these stores are tapping into the nostalgia associated with the traditional family road trip adventure by providing a stop that is more than just gas-and-go with questionable restrooms, says Tom Seng, professor of professional practice at Texas Christian University, and because millions of Americans still take vacations on the road, the interstate system is a perfect location for these. "These stores have become destinations in themselves for some people," Seng said. Locals, he noted, can also use them as a de facto grocery or a fuel stop. "Having been to a Buc-ee's many times myself, I know there will be many gas pumps, so I shouldn't have a long wait. The restrooms will be clean and there is a variety of food," Seng said, noting the BBQ and a variety of roasted nuts providing tempting aromas as soon as you enter. For the corporations, there are much higher margins on food and gift sales than on gasoline. "Buc-ee's doesn't advertise its gasoline prices like its competitors, but that is more of a service to draw customers inside," Seng said.  The grand opening of Dolly Parton's Dolly's Tennessean Travel Stop, an 18-acre development including a dog park, a theater, restaurant and bar, trucker showers, and lounge.Dolly's Tennessean Travel Stop And, now, there's Dolly's, where the gas seems almost an afterthought — only 16 pumps at the 25,000-square-foot, 18-acre behemoth, which includes a dog park, a theater, restaurant and bar, trucker showers, and lounge. But look for more — and bigger — Dolly's locations after the grand opening last week of the first Dolly's in Cornersville, Tennessee, which even brought out the establishment's namesake, who took a light-hearted jab at Buc-ee's as she cut the ribbon. "Initially, we are focusing on making the Cornersville flagship location the best it can be. The plan is to open up locations throughout the country, in a deliberate, measured fashion," said Gregory H. Sachs, partner of Dolly's Tennessean Travel Stop. Sachs said Parton and her team were involved in all aspects of creating the travel stop. Elizabeth Lafontaine, director of research at Placer.ai, a location analytics firm, said that the latest mega-offerings are a natural progression in this segment, one that's outliving its own category name. "The convenience store channel has, in many ways, evolved past its name to become a full-service one-stop shop for consumers," said Lafontaine. "As the lines blur between grocery stores, convenience stores (c-stores), and quick-service restaurants, convenience chains have effectively changed shoppers' perceptions, becoming must-visit destinations during a typical weekday or as a special stop on a vacation," Lafontaine said.Placer.ai's data shows that shoppers spend more time in-store at chains that focus on prepared food or unique offerings, with Buc-ee's seeing the longest dwell time of any c-store chain, roughly double the time of the nearest competitor. Average dwell time (in minutes) at convenience store chainsBuc-ee's: 20.8Wawa: 11.7Sheetz: 11.77-Eleven: 9.8Circle K: 9.3Casey's General Store: 8.7Cumberland Farms: 8.5Source: Placer.aiLafontaine said that the category definition has expanded as a variety of c-store formats emerge and become popular. "Social media has played a key role in bringing regional offerings onto the national stage, which has in turn pushed all chains to take a closer look at what resonates with consumers," she said. The growth does come with assorted growing pains. As convenience store formats encroach on grocery and superstore territory in both size and assortment, chains need to consider how to maximize their popularity without creating excessive additional competition. "Larger-format chains like Buc-ee's have successfully added general merchandise and private-label goods — accounting for close to 50% of the store floor — that are often just as popular as their prepared foods among shoppers. But this strategy may be limited by the c-store model and isn't necessarily indicative of how other chains plan to compete for consumer attention," Lafontaine said. Buc-ee's is succeeding in getting customers to stay in its stores longer, something Dolly's and Wally's are trying to emulate. Dolly's entertainment options will especially increase the "stickiness" in stay. For instance, upcoming events feature a story time in the auditorium from 10 a.m. to 11 a.m. Marbue Brown, CEO and founder of the Customer Obsession Advantage, a customer-experience consulting firm, says success is more about the zeitgeist and less about the size. "They need to have that kind of Cabbage Patch appeal so people who stop feel like they have to have one. Those are the aspects of the Buc-ee's experience these competitors need to emulate, not the size," Brown said. "Buc-ee's has nailed it. ... people want to buy a T-shirt telling the world they were there," Brown said. There is a limit to the square footage."While these stores can get remarkably large, physical expansion faces practical limits in land availability, zoning, and operational complexity, suggesting future growth might prioritize optimizing services and space over sheer square footage," Mazumder said. The mega-size convenience store-gas station could, in fact, be approaching its upper limit.Since these stores are designed to serve the interstate traveler, they don't locate in major urban areas, instead preferring more rural settings along the highway. "That benefits the small towns connected to our interstate system. Buc-ee's appears to be setting the standard for now, but I don't see the development of shops larger than what they currently have," Seng said.Dolly's says it is focused on delivering a place that feels like home. "In general, bigger is not always better," Sachs said. "So, there will be some max size where the 'home' feeling is lost. We haven't figured out yet what that exact size is," he said. In the end, all the brisket, fudge, beef jerky, and kitschy highway trinkets may not matter as much as one aspect of the experience all the chains need to execute on, according to Brown: "People love Buc-ee's for the one thing that gets people to stop more than anything else: clean bathrooms.""The idea is that spotless facilities make people feel comfortable. If they are comfortable using the bathroom, they feel comfortable eating there and spending more money. If bathrooms aren't clean, we don't eat here," he said.  Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The Russian Defense Ministry said that it launched a "massive strike using long-range precision air, land, and sea-based weapons and attack drones." View More

Smoke rises over the city following a Russian air attack on Kyiv, on July 2, 2026, amid the Russian invasion of Ukraine. Russian missile and drone strikes rocked Kyiv early on July 2, killing two people and wounding more than a dozen, after President Volodymyr Zelensky warned that Moscow was preparing a "massive attack". (Photo by Roman PILIPEY / AFP via Getty Images)Roman Pilipey | Afp | Getty Images Russia on Thursday launched a large-scale missile and drone attack on Ukraine, targeting Kyiv and other regions across the country.Russia's Defense Ministry said that it carried out a "massive strike using long-range precision air, land, and sea-based weapons and attack drones."Moscow said the strikes targeted military-industrial facilities, fuel and energy complexes in Ukraine's capital and the Kyiv region as well as military airfields in the Dnipropetrovsk, Poltava, Cherkasy and Chernihiv regions."Kyiv is under attack from ballistic missiles and UAVs," Kyiv Mayor Vitali Klitschko said on Telegram, adding that there were 10 deaths and 34 injured.It was not immediately clear how many missiles and drones were launched at Ukraine, or how many Ukraine had managed to intercept.Finland temporarily imposed an "aviation restriction zone" in the eastern Gulf of the country on Thursday morning, before lifting the measure shortly thereafter.Poland also scrambled fighter jets in response to Russia's attack on Ukraine, saying on X that "fighter jets have begun operating, while ground-based air defense systems and radar reconnaissance have reached a state of readiness." A damaged residential building is seen following missile strikes on the Ukrainian capital of Kyiv on July 2, 2026, amid the Russian invasion of Ukraine. Russian missile and drone strikes rocked Kyiv early on July 2, killing at least eight people and wounding dozens, after President Volodymyr Zelensky warned that Moscow was preparing a "massive attack"Genya Savilov | Afp | Getty Images Poland's Armed Forces Operational Command said the measures were of a preventive nature and aimed at securing and protecting the airspace, "especially in areas adjacent to the threatened regions." Olga Stefanishyna, Ukraine's ambassador to the U.S., said on X that residents spent the night in shelters. Kyiv was seeing fires and the destruction of residential buildings in several districts of the city, she said. Ukraine says Putin 'refusing to end the war' Ukrainian President Volodymyr Zelenskyy had warned of an imminent "massive" Russian strike on Wednesday evening, urging citizens to take shelter and pay attention to air raid alerts across the country. Zelenskyy, who said he was cutting short a trip to Ireland to return to Ukraine, said it was known that Russian President Vladimir Putin had been preparing to launch another large-scale strike against Ukraine for some time."Russia's head is completely refusing to end the war," Zelenskyy said via social media. "And although through all possible official and unofficial channels – including through people close to him – we have conveyed that the war can and must be ended, and that we in Ukraine are ready for meetings and meaningful negotiations, he sees only further aggression against Ukraine and against other neighbors and Europe as a whole," Zelenskyy added.Ukraine's president recently signed off on a 40-day operation designed to influence the Kremlin to bring an end to the war. watch nowVIDEO3:2303:23Ukraine intensifies attacks on Russia, creating new pressure points for PutinEurope Early Edition Russia's latest attack comes as Kyiv has stepped up long-range drone strikes inside Russia, targeting oil refineries, military facilities and major cities, including Moscow and St. Petersburg.Ukraine's deep-strike successes had prompted some analysts to suggest the conflict could be turning in Kyiv's favor, with Putin acknowledging the impact of Ukrainian drone strikes on Russian fuel production for the first time. "As envisaged by the Defense Strategy of Ukraine, we are depriving the enemy of resources for waging war," the ministry said on Telegram on July 1, adding that the effort is intended to pressure Russia to end the war, now in its fourth year. Read morePutin’s fuel shortage admission signals growing strain on Russia’s energy infrastructureUkraine is raising the cost of war for Russia — and testing Putin's resolveEurope’s defense boom faces a new test: Can it actually deliver weapons? Correction: Poland's Armed Forces Operational Command said the measures were of a preventive nature and aimed at securing and protecting the airspace. An earlier version misspelled the name of the agency. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

India can become a major aluminium exporter if production costs are competitive, according to Karan Adani. Despite existing capacity, the nation imports the metal, indicating strong domestic demand. Adani Group plans a massive integrated aluminium project in Odisha, committing $11.5 billion to establish a refinery, smelter, and downstream park, aiming to bridge the supply-demand gap and create over 53,000 jobs. View More

Bhubaneswar (Odisha) [India]: India has the potential to transform into a net exporter of aluminium if production is executed at a highly competitive rate, as the domestic market currently maintains enough room for multiple players to operate simultaneously, said Karan Adani , Managing Director of AdPorts & Special Economic Zone Ltd (APSEZ). While speaking to the media post the MoU signing between Adani Enterprises Ltd and the Odisha govt, Adani noted that despite the presence of large domestic capacities and established industry participants, India continues to rely on aluminium imports to meet its internal requirements. This ongoing reliance signals robust underlying demand within the local market. "I think if you look at the overall market, even with such large capacities being there, large players being there, we still import aluminium, which is a sign that there is more demand and there is going to be enough room for everybody to be in this market," Adani said. "And at the end of the day, if done at a very competitive rate, India can be a net exporter of aluminium as well," he added. The company plans to initiate the physical construction of the project after navigating the initial regulatory and licensing phases. The preliminary groundwork and state clearances are expected to span over the next several months. Live Events "As I mentioned earlier, it will take us 12 to 18 months to get the approvals and then post that we will start the physical construction. So that's the timeline that we are looking at," Adani stated. A critical component of the upcoming project involves securing a stable supply of bauxite, the primary raw material needed for aluminium production. The company intends to participate in upcoming state mineral auctions and explore partnerships with the state-owned mining entity to secure its supply chain. "As I said earlier, there are few mines which are coming up for auction. We will definitely look at that. We will try to look at working with OMC as well," Adani said. "We'll find a way where bauxite security is ensured." The newly signed agreement outlines an initial capital commitment aimed at addressing the structural deficit in the domestic non-ferrous metals sector . The project focuses on aligning local production capabilities with both immediate and long-term industrial consumption trends. "This is our initial investment that we are looking at and basically the idea is to bridge the gap between what is India's requirement and also the future requirement and that's the gap that we are looking to fill," Adani said. Adani Group on Thursday announced a proposed investment of USD 11.5 billion (nearly Rs 1.08 lakh crore) in Odisha to develop an integrated aluminium manufacturing ecosystem , a project expected to generate more than 53,000 jobs during its construction and operational phases. According to Karan Adani, the project will integrate the entire aluminium value chain and include an alumina refinery with a capacity of nearly 4 million tonnes per annum, an aluminium smelter of around 2 million tonnes per annum, and a downstream aluminium park of about 1 million tonnes per annum. The project will also be backed by a captive power plant of around 4,000 MW along with a 400 MW green energy component. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)