This week in business: Taylor Swift, Tesla, and some cleaner Walmart snacks
This week brought a mix of serious headlines and splashy moves.
On one end, regulators and retailers are making decisions that could directly affect your wallet and grocery cart—from FICO shaking up how mortgage lenders handle credit scores to Walmart promising cleaner labels on its private-label food. On the other, cultural and corporate forces collided in ways that only 2025 could deliver: Starbucks is closing stores (many of them unionized), and Taylor Swift is rolling out a new album and a three-day movie event that’s giving theaters a rare box office jolt.
Here are some of the week’s biggest stories.
More pasta recalled after deadly listeria outbreak
Retailers added new ready-to-eat pasta items to ongoing listeria-related recalls this week, including products from Trader Joe’s and Albertsons. The CDC ties the outbreak back to August 2024. Cases have currently risen to 20 this year, with four fatalities and 19 hospitalizations.
Quantum computing stocks leap—again
Rigetti, D-Wave, IonQ, and Quantum Computing Inc. notched double-digit daily pops, extending huge 12-month runs. Rigetti landed a $5.7 million order for two upgradable 9-qubit Novera systems; D-Wave touted a U.K. police pilot that sped up response-time modeling. Fans see early commercial traction; skeptics say the hype is still miles ahead of revenues.
Big banks eye relief as capital rules get rewritten
Trump-era regulators are crafting the most sweeping capital update since 2008, easing parts of the “Basel Endgame,” recalibrating GSIB surcharges, and tailoring leverage constraints. Industry sources expect systemwide capital to be flat at worst—maybe lower for some mega-banks. Critics warn softer buffers could bite if the economy wobbles.
Walmart is cleaning up its private-label ingredients
Walmart announced plans this week to eliminate the use of synthetic dyes and 30 additives across its Great Value, Marketside, Freshness Guaranteed, and Bettergoods brands by January 2027. The move follows federal nudges to phase out dyes and taps consumer demand for simpler labels. Walmart says 90% of its private-label items are already dye-free, with more reformulations rolling out soon.
Starbucks closings include 59 unionized stores
As part of a $1 billion “Back to Starbucks” overhaul, the company will close about 1% of North American stores by the end of 2025 while opening others. Starbucks Workers United says 59 of the closing cafés are unionized; the company says union status wasn’t a factor and is offering transfers or severance.
KB Home hints Florida discounts went too far
After cutting hard to revive demand, KB Home says Florida orders bounced—and some communities may now see price increases. Management points to fewer housing starts and cost reductions as tailwinds. Not an all-clear for the whole state, but the tone has shifted from defense to cautious optimism.
FICO upends mortgage-score distribution
Fair Isaac Corp. will let mortgage lenders license FICO scores directly—skipping the credit bureaus—and says per-score costs could fall up to 50%. FICO shares ripped higher; Experian, TransUnion, and Equifax slumped on margin worries. The change follows public pressure from housing regulators to boost competition and lower fees.
Taylor Swift’s 3-day film window = scarcity play
Alongside her 12th album, The Life of a Showgirl, Swift is premiering a companion film in AMC, Cinemark, and Regal multiplexes this weekend for just three days (Oct. 3–5). It’s the same scarcity engine behind her limited-edition drops—and a studio-free win for theaters. Great for Swift-level stars; not a plug-and-play model for everyone else.
Tesla sued over Cybertruck doors after fatal crash
A new suit alleges electronic door releases failed in a fiery crash, trapping a 19-year-old passenger; manual releases require finding concealed cables. It adds to complaints and investigations around Tesla’s button-operated doors. Tesla has floated redesigns that blend mechanical and electronic releases to address “panic” scenarios.
New York’s inflation refund checks are in the mail
New York is sending onetime checks of $150 to $400 to 8.2 million households through October and November. Eligibility is based on 2023 filing status and adjusted gross income (AGI); no application is needed, but make sure your address is current with the state if you’re a NY resident.
