The U.S. Food and Drug Administration has upgraded a recall of certain Utz Quality Foods potato chips under its Zapp’s and Dirty brands to a Class I event, citing a seasoning ingredient that may contain salmonella-contaminated dry milk powder. The affected products were sold nationwide and include multiple flavors with “Best By” dates running through Aug. 31, 2026. Utz said it initiated the recall voluntarily out of an abundance of caution and has not received any illness reports. The company said it is working with the FDA as part of an ongoing investigation.

PJM Interconnection, the largest U.S. grid operator, expects electricity demand to reach 166,147 megawatts on Thursday, a level not seen in nearly 20 years. It has secured an emergency order from the Energy Department that could allow transmission operators to curtail usage by data centers and other large customers with backup generation if needed. PJM also obtained temporary relief from certain environmental permit restrictions for power plants through July 3 to help meet surging demand. Wholesale power prices have jumped in parts of the region, including northern Virginia, as temperatures neared 100 degrees.

Alibaba Group and its U.S. payment unit, AUS Merchant Services, reached a nonprosecution agreement with the U.S. Department of Justice after admitting they failed to prevent illegal products—including pharmaceuticals and controlled substances—from being sold into the United States. The companies will pay a combined $600 million, including a $125 million criminal penalty and $390 million in forfeiture. The conduct spans January 2016 to December 2024 and involves roughly 80,000 unlawful sales tied to U.S. imports, with more than $200 million in gross merchandise value. Alibaba said it will strengthen compliance controls governing third-party merchants on its e-commerce platforms.

Ford is recalling more than 741,000 SUVs and pickups, including 2018–2021 Expedition and Navigator, 2020–2021 Explorer and Aviator, and 2021 F-150 models, over a transmission defect that can allow a vehicle to roll away. The company has linked the issue to 24 reports of property damage and nine alleged injuries, including two reports involving emotional injuries. Dealers will install a software update and inspect and replace damaged transmission components at no cost, with interim owner letters expected to begin Aug. 3. Ford said a permanent repair is not expected to be available until April 2027.

Amgen is voluntarily recalling 944,142 bottles of its Corlanor and Sensipar tablets after unexpected foreign matter was found in a reserve sample from one lot. The substance was reported to be localized on the outside surface of coated tablets, prompting the recall of multiple lots packaged in the same area, according to the California State Board of Pharmacy. The board said hazard assessments indicate the issue does not pose a clinical risk and that overall patient safety risk is low. No complaints have been reported, and the products were distributed from Oct. 28, 2021 to Dec. 30, 2025.

The U.S. Commerce Department has declined to authorize Polestar to import and sell cars under the Connected Vehicles Rules, which would bar new Polestar sales in the United States starting with the 2027 model year. The rules restrict connected-vehicle technologies linked to China, including data-capable features such as Bluetooth and cellular connectivity. Polestar said 94% of its first-quarter 2026 retail sales came from outside the U.S., but the move threatens its North American growth outlook and adds to profitability pressure. Volvo, a sister brand that builds the Polestar 3, said it was too early to say whether the decision would alter its production plans.

Apple said it is raising prices across its iPad and MacBook lineup after a sharp increase in memory and storage chip costs tied to AI-driven supply strains. The MacBook Air 512GB is moving to $1,299 from $1,099, while the iPad Air 128GB is rising to $749 from $599. Apple’s Neo will also increase to $699 from $599. The company said it has not seen component prices climb “this much, this quickly,” and warned memory costs will continue to weigh on results in coming quarters.

U.S. Treasury Secretary Scott Bessent used a speech at the Economic Club of New York to lay out five principles he said guide the Trump administration’s approach to economic statecraft. He framed the agenda around national capacity, trade reciprocity, U.S. economic leadership, financial leadership and delivering household prosperity. The framework emphasizes supply-chain resilience in strategic sectors including semiconductors, AI, quantum computing, critical minerals and pharmaceuticals, calls for reciprocal trade, and seeks to protect the integrity of the dollar-based financial system. It is presented as a medium-term, structural policy direction and does not announce specific legislation or immediate measures, with no direct short-term trading trigger.

The U.S. Department of Energy said it will provide $17.5 billion in conditional loans to help utilities and energy companies purchase long-lead equipment for five nuclear projects. The program is designed to support the goal of having 10 new large commercial reactors with completed designs under construction by 2030. Projects must be jointly owned with Westinghouse, with each partner committing $500 million in equity up front, for a total of $1 billion. The financing structure also requires lining up major power buyers such as AI data center hyperscalers, including Meta, which are seeking steady, large-scale baseload electricity.