Forbes Daily: A New $18 Billion Beverage Deal Amid Rising Coffee Prices
For many high school students in the midst of college application season, President Donald Trump’s war on higher education adds a new layer of stress.
In addition to typical considerations like academic fit or net cost, it’s critical to examine how a school might be impacted by cuts to research funding and foreign student admissions. Forbes’ latest America’s Top Colleges list, out today, can serve as a guide for parents and students navigating these difficult choices: The ranking of these 500 institutions examines academic, financial and career outcomes.
Some names may not be surprising, like No. 1 MIT, where recent graduates earn a median salary of $110,200. But other schools, like the Georgia Institute of Technology, also boast an impressive ROI.
In a deal worth about $18.3 billion, Keurig Dr Pepper said it will acquire the firm that owns Peet’s Coffee, and then split its coffee and soft drink businesses, leading shares of the beverage giant to tank more than 11%. The move comes as President Donald Trump’s 50% tariffs on imports from Brazil—the world’s largest coffee exporter—have led both businesses to warn of price impacts.
In a new lawsuit, Elon Musk’s xAI is accusing Apple and OpenAI of colluding to prevent other AI companies from reaching the top of the App Store’s rankings, as the billionaire makes good on his previous legal threats. The suit claims that the companies are “manipulating the App Store rankings to cause the X and Grok apps to perform worse,” and Musk’s artificial intelligence startup requests billions in damages.
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