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California bans consumer-facing ‘sell by’ food labels under new law aimed at reducing waste
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California’s standardized food date-labeling law took effect Tuesday, requiring food manufacturers that choose to display expiration-style dates on products sold in the state to use uniform language and prohibiting consumer-facing “sell by” labels.
Under Assembly Bill 660, food manufacturers, processors and retailers that display date labels on food manufactured on or after July 1, 2026, must use “BEST if Used by” or “BEST if Used or Frozen by” to indicate product quality, and “USE by” or “USE by or Freeze by” to indicate food safety.
The law also prohibits covered food products sold in California from displaying consumer-facing “sell by” labels, although retailers may continue using coded stock-rotation labels that are not easily readable by consumers.
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An employee arranges a digital price tag for vegetables on the opening day of the 365 by Whole Foods Market store in the Silver Lake neighborhood of Los Angeles, California, U.S., on Wednesday, May 25, 2016. Whole Foods Market Inc., plans to open 10 (Photographer: Patrick T. Fallon/Bloomberg via Getty Images / Getty Images)
“Using clear, consistent date labels will help reduce confusion about when food is safe to eat, cut down on unnecessary food waste, and make it easier for consumers to make informed decisions,” Assemblymember Jacqui Irwin, D-Thousand Oaks, who authored the legislation, wrote Monday on X. “A simple change with meaningful benefits for families, businesses, and the environment.”
Organic labeled vegetables are offered for sale at a grocery store on January 19, 2023 in Chicago, Illinois. (Scott Olson/Getty Images)
State officials say the change is intended to reduce consumer confusion over the dozens of different date-label phrases currently used on food packaging.
According to the California Department of Food and Agriculture, more than 50 differently worded date labels have been used in the U.S., leading many consumers to mistakenly discard food that remains safe to eat.
The department, citing the California Department of Resources Recycling and Recovery, said Californians throw away the equivalent of 2.5 billion meals worth of unspoiled food each year. Organic waste accounts for about 48% of material sent to California landfills and generates roughly 41% of the state’s methane emissions as it decomposes there, according to the agency.
The legislation does not require manufacturers to place date labels on products that otherwise would not have them. Instead, it standardizes the wording used when companies choose — or are otherwise required by law — to include quality or safety dates.
Elderly shoppers browse the isles of Iceland Foods in Northwich, Britain, on March 18, 2020, where shoppers will soon be able to take out small interest free loans from the supermarket for groceries. (REUTERS/Molly Darlington / Reuters Photos)
The law also preserves several exceptions. It does not apply to infant formula, eggs, pasteurized in-shell eggs, or beer and other malt beverages. Grocery stores may continue using “packed on” labels for prepared foods as long as the products also display the required quality or safety date labels.
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Gov. Gavin Newsom signed AB 660 into law in September 2024, making California the first state to adopt standardized consumer-facing food date labels.
Kismet Kebabs remains one of the UK’s largest kebab meat suppliers.
In 2024, the company was accredited by BRCGS (Brand Reputation through Compliance Global Standards), a global food safety standard recognised in 130 countries.
Once BRCGS became aware of court proceedings against Kismet Kebabs, its accreditation was reviewed and last month the firm was found to still be compliant.
In a statement, Kismet Kebabs Ltd said the business was “significantly different” to how it was run five years ago.
“It is important to recognise that the matters in question relate to historical events and do not reflect the standards, systems, management structure, or operational controls that exist within the business today,” a spokesperson added.
The VanEck Semiconductor ETF (SMH), which tracks major chip stocks, fell more than 5%, a day after ending its strongest quarter on record. The index had surged 71% between April and June as investors aggressively bought companies expected to benefit from the artificial intelligence boom.
Memory chip maker Micron led the losses, tumbling 11%, while Intel fell 9% and Advanced Micro Devices (AMD) declined 7%.
The three companies together had added nearly $2 trillion in market value during the second quarter as investors broadened their AI bets beyond Nvidia, expecting rising demand for memory chips and central processors to support future growth.
Selling pressure also spread to semiconductor equipment makers. Lam Research, KLA Corp. and Applied Materials, all of which more than doubled during the second quarter, fell at least 10%.
The weakness came after reports suggested that Meta Platforms may rent out excess AI computing capacity, raising concerns that the rapid expansion of AI infrastructure could eventually lead to excess supply.
The report fuelled speculation that AI computing capacity may be catching up with demand, prompting investors to reassess lofty valuations across the semiconductor sector.Interestingly, Meta’s shares moved in the opposite direction, rising more than 9% after the development was viewed positively by investors. The company is among the largest spenders on AI infrastructure globally, investing billions of dollars annually in data centres and computing hardware.
Analysts at KeyBanc Capital Markets said the move could help Meta expand into the enterprise AI market and generate quicker returns from its infrastructure investments.
Despite Wednesday’s sell-off, many market participants continue to remain constructive on large technology companies investing heavily in AI.
Richard Saperstein, chief investment officer at Treasury Partners, said he continues to favour hyperscalers, arguing that their earnings growth remains strong even as valuations have moderated due to concerns over heavy capital expenditure.
The sharp reversal highlights growing volatility in AI-related stocks after an extraordinary rally, with investors becoming increasingly selective as they look for clearer evidence that massive investments in AI infrastructure will translate into sustainable earnings growth.
U.S. Securities and Exchange Commission chair Paul Atkins discusses the value of Trump investment accounts on Kudlow.
Goldman Sachs on Thursday announced that it will make a matching contribution to Trump Accounts for eligible children of the firm’s employees.
The company will make a one-time matching contribution of $1,000 to employees with children born between 2025 and 2028 upon the time of enrollment in Trump Accounts, matching the $1,000 federal seed contribution.
“Starting early and staying invested for the long term is one of the most reliable ways American families build lasting financial security,” said Goldman Sachs CEO David Solomon.
“We have long been committed to the importance of savings and investment as a pathway to a more resilient financial future, and we’re proud to continue our support of this partnership and invest in the future of America,” Solomon added.
WHITE HOUSE UNVEILS TRUMP ACCOUNTS MOBILE APP AHEAD OF JULY 4 ROLLOUT
Goldman Sachs CEO David Solomon said that Trump Accounts can help instill savings and investment as financial habits. (Al Drago/Bloomberg via Getty Images)
The company said in a statement that it views the public-private initiative as a way to “instill the fundamental economic principles of savings and investing in America’s next generation.”
With the matching contribution, Goldman Sachs joins the ranks of U.S. companies that have opted to participate in the Trump Accounts program.
HOW TO KNOW IF YOUR CHILD QUALIFIES FOR A TRUMP ACCOUNT: ‘A FINANCIAL STAKE IN THE FUTURE’
Trump Accounts are scheduled to officially launch on July 4. (Valerie Plesch/Bloomberg via Getty Images)
Financial firms including Citi, JPMorgan Chase, Bank of America and Vanguard have all announced that they will make contributions to the Trump Accounts of their employees’ children that at least match the $1,000 federal contribution for children born between 2025 and 2028.
Michael and Susan Dell also announced the donation of $6.25 billion to seed 25 million accounts belonging to children 10 and under with $250 each, providing a boost that includes some children who wouldn’t have been eligible for the federal seed money.
HERE’S HOW MUCH TRUMP ACCOUNT BALANCES COULD GROW OVER TIME
The Trump Accounts app will feature eight exclusive financial literacy modules that families can access before the July 4 rollout. (U.S. Department of the Treasury / Fox News)
Trump Accounts were created by the One Big Beautiful Bill Act, the package of tax cuts and reforms that Republicans passed through Congress and was signed into law by President Donald Trump last year.
The initiative invests the savings in low-cost index funds that provide broad, diversified exposure to the U.S. stock market.
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Parents and guardians may contribute up to $5,000 per year to the accounts belonging to their children, while a parent’s employer can contribute up to $2,500 annually without impacting the employee’s taxable income.
The Dow ended higher, logging its fourth consecutive weekly gain, the longest such streak since October 2024. The U.S. market will be closed on Friday in observance of the U.S. Independence Day holiday.
An index of semiconductors was down sharply for a second day and technology was among the biggest sector decliners in the S&P 500.
Investors are probably taking profits in chip stocks following this year’s strong gains, said Bruce Zaro, managing director at Granite Wealth Management in Plymouth, Massachusetts. “You can really point the finger at the consolidation in the chips,” he said.
Tesla shares fell sharply as well even though the electric carmaker posted second-quarter deliveries above estimates. Tesla shares had risen sharply this week ahead of the report.
The U.S. nonfarm payrolls report showed the economy added 57,000 jobs last month, far below economists’ estimates for a rise of 110,000. The unemployment rate was 4.2%, in line with expectations of 4.3%.
According to preliminary data, the S&P 500 lost 1.53 points, or 0.06%, to end at 7,478.66 points, while the Nasdaq Composite lost 226.28 points, or 0.87%, to 25,813.75. The Dow Jones Industrial Average rose 560.00 points, or 1.10%, to 52,865.24.The employment report followed a run of strong job gains recently. Expectations for a rate hike from the Fed decreased after the report, according to CME FedWatch. For the September meeting, hike expectations dimmed to 55% from 64.1%.
The jobs report “doesn’t mean the fear of inflation is over,” said Adam Sarhan, chief executive at 50 Park Investments in New York. “It just takes the pressure off the Fed to raise rates in the short term.”
Investors have been worried about inflation especially given sharp gains in oil prices tied to the Middle East war. On Thursday, oil prices fell after mediator Qatar said Iran and the U.S. made progress in talks over ending the war.
Among other decliners in stocks, Bending Spoons dropped, a day after the Vimeo owner gained 40% in its debut on the Nasdaq.
Mid Penn Bancorp director Albert Evans buys $9,999 in stock
Form 13D/A Icon Energy Corp For: 2 July
Electric vehicle makers Rivian Automotive and Lucid Group reported second-quarter delivery results Thursday with mixed results.
Rivian raised its 2026 delivery guidance range after seeing stronger-than-expected demand for its electric vehicles during the second quarter, while Lucid missed Wall Street expectations and its new CEO Silvio Napoli announced a shake-up of the company’s leadership team.
Rivian said it now expects to deliver between 65,000 and 70,000 vehicles this year, up from a prior forecast of between 62,000 and 67,000 units.
Rivian stock rose roughly 6% in early trading Thursday.
Rivian, Lucid and Tesla stocks
Rivian also said Thursday it produced 12,613 vehicles and delivered 12,194 units during the second quarter. The second-quarter deliveries are higher than FactSet’s analyst consensus of 11,0000 units and the company’s previous outlook, which called for delivering between 9,000 and 11,000 EVs.
Rivian, which will report its second-quarter financial results July 30, said higher deliveries during the second quarter were driven by its electric delivery van and flagship R1 products.
The company also started delivering its midsize R2 SUV during the quarter. It’s ramping up production of that vehicle at its sole production plant in Normal, Illinois, which has capacity to produce 160,000 of the vehicles annually.
Lucid reported producing 4,774 vehicles and delivering 3,953 vehicles during the second quarter. The deliveries were below Wall Street’s expectations of 5,000 units, according to FactSet.
Along with the deliveries, the company announced a new leadership team under Napoli, who started overseeing the company in June. Lucid said the new format is meant to “simplify the company’s structure” and cuts the number of direct reports to the CEO in half.
Most notably, Lucid Chief Financial Officer Taoufiq Boussaid will leave the company after a handover to his successor, Alexander De Bock, who most recently served as CFO of automotive supplier TI Automotive.
“We are simplifying the organization, strengthening leadership, enforcing accountability and aligning our structure with the priorities that matter most: customers, quality, and innovation,” Napoli said in a release.
EV leader Tesla, meanwhile, reported 480,126 vehicle deliveries for second quarter, topping expectations. The company doesn’t break out exact delivery numbers by region or individual model, but it said its entry-level Model 3 sedan and most popular Model Y SUVs accounted for 467,762.
— CNBC’s Lora Kolodny contributed to this report.
As the United States turns 250 this weekend, and with gas prices pressuring travel, boutique outdoor hospitality brand AutoCamp has a pitch for American travelers.
The high-end camping company offers Airstream suites, polished cabins, fire pits, design-forward amenities and access to iconic outdoor destinations. It has nine U.S. locations, from Joshua Tree in California to Cape Cod, Massachusetts.
AutoCamp says its room revenue is up 20% over last year, and heading into the Fourth of July weekend, it’s 90% occupied across the portfolio, with average daily room rates up 15%.
Its chief commercial officer, Bryan Terzi, said part of the company’s appeal is a luxury camping experience just a quick drive from home — no buying or lugging tents, grills and other camping gear.
“It’s really kind of that cross-section of tapping into people’s nostalgia of what they remember from when they were young but also creating an environment to make memories with their families and children,” Terzi told CNBC.
AutoCamp Catskills in Saugerties, New York.
CNBC | Contessa Brewer
Visitor interest in AutoCamp coincides with rising demand for visits to America’s parks.
Airbnb said it saw searches for stays “near a national park” up 35% in 2026, even before gas prices spiked. The company said nature and outdoor experiences are the top-booked experience category.
According to Hilton’s 2026 trends report, 37% of travelers said that spending time in nature is a top reason they travel.
Hilton has a partnership with AutoCamp as part of a broader strategy to invest in experiential offerings. Hilton said it’s seen a 30% rise in direct bookings with AutoCamp on its platform, with nearly half booked with Hilton Honors loyalty points.
AutoCamp Catskills Clubhouse.
Courtesy: AutoCamp Catskills
Now, AutoCamp is ready to fuel its growth by selling more than a weekend in the woods. It’s offering guests a piece of the company, turning its most loyal customers into shareholders.
From camping to crowdfunding
Using the DealMaker crowdfunding platform, AutoCamp raised $1.2 million in less than 30 days from 353 investors, many of them past guests. DealMaker says it was one of the fastest raises it’s seen, with exceptional early investor interest.
It’s part of a recent wave of hospitality companies delving into fractional ownership.
Overthrow Hospitality, a plant-based food and beverage company raised nearly a million dollars from 403 investors using the investment crowdfunding service StartEngine. MAF Hospitality, an Italian-inspired restaurant, vintner and hotel brand, offers investment opportunities through Wefunder, with a testimonial from a lead investor, who’s also a customer, prominently displayed.
DealMaker says it’s an appealing way to raise funds for any business that has a strong fan base like sports, media and entertainment, and consumer brands.
Customers get a real sense of participation in something they care about, said Rebecca Kacaba, CEO and co-founder of DealMaker.
“They’re putting money into businesses they understand firsthand: tangible products, real experiences, brands they’ve already interacted with. That alignment between consumer behavior and investment is something retail investors find increasingly appealing,” she said.
The U.S. Securities and Exchange Commission permits regulated crowdfunding of up to $5 million annually through an SEC-registered platform. Their investment materials include the typical warnings, that positions can be illiquid, speculative and difficult to value.
AutoCamp Catskills Clubhouse.
Courtesy: AutoCamp Catskills
Wefunder puts it plainly: “Startups either win big or go bankrupt. You could lose all your money. Consider them more like socially-good lottery tickets.”
But these kind of investments in hospitality companies often come with special guest perks — the kind you might normally expect by being a premier member in a rewards program. For instance, this month, a $10,000 investment in AutoCamp comes with 2% bonus for additional shares on top of the 4% shares the investor receives, plus a $400 gift card to be used on the booking platform.
And hospitality brands get more than capital with this kind of fundraising.
“These customers that are staying with us, then they’re investing with us, and then it’s really exciting to see them tell 10 friends about, ‘Hey, I had a great experience, I loved it so much, I invested in the brand and their growth, and I want you to come check it out as well,’” Terzi said.
Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team
U.S. Securities and Exchange Commission chair Paul Atkins discusses the value of Trump investment accounts on Kudlow.
The Treasury Department on Wednesday announced the lineup of investment funds that will be available in Trump Accounts for families to choose from in the months ahead as they use the accounts to invest in their children’s futures.
When the program officially launches on July 4, all contributions to Trump Accounts will be invested by default in the State Street SPDR Portfolio S&P 500 ETF (SPYM), which is a low-cost exchange-traded fund (ETF) that tracks the performance of the S&P 500 Index.
Treasury’s announcement said that the fund was chosen because it provides broad exposure to the U.S. stock market and maintains expenses at a level that’s well below the expense ratio limit of 0.1% established by the One Big Beautiful Bill Act, which created Trump Accounts.
GOLDMAN SACHS TO CONTRIBUTE $1,000 TO TRUMP ACCOUNTS FOR ELIGIBLE CHILDREN OF EMPLOYEES
Trump Accounts will officially debut on July 4. (Valerie Plesch/Bloomberg via Getty Images)
While the SPYM ETF will be the default investment when the Trump Accounts launch, the Treasury Department said that it is planning to make several other funds available to investors in the months ahead once the functionality is available on the platform.
Four other low-cost ETFs that track broad indexes will be available in Trump Accounts in the future:
- iShares Core S&P 500 ETF (IVV)
- Vanguard Total Stock Market ETF (VTI)
- State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM)
- iShares Core S&P Total U.S. Stock Market ETF (ITOT)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SPYM | STATE STREET® SPDR® PORTFOLIO S&P 500® ETF – USD DIS | 87.44 | -0.33 | -0.38% |
| IVV | ISHARES CORE S&P 500 ETF – USD DIS | 749.10 | +0.21 | +0.03% |
| VTI | VANGUARD TOTAL STOCK MARKET ETF – USD DIS | 369.27 | -0.77 | -0.21% |
| SPTM | STATE STREET® SPDR® PORTFOLIO S&P 1500® COMPOSITE STOCK MARKET ETF – USD DIS | 90.63 | -0.16 | -0.18% |
| ITOT | ISHARES TRUST CORE S&P TOTAL US STOCK MKT | 164.02 | -0.25 | -0.15% |
HERE’S HOW MUCH TRUMP ACCOUNT BALANCES COULD GROW OVER TIME
The iShares IVV ETF offers investors another option for tracking the S&P 500 Index, which is considered the benchmark for the U.S. stock market and tracks 500 companies listed on U.S. exchanges that meet criteria for market capitalization, liquidity, trading volume and other factors.
State Street’s SPTM ETF tracks a broader segment of the U.S. market through the S&P 1500 Composite Index, as it includes 1,500 companies that span large-cap firms like those in the S&P 500 as well as mid-cap and small-cap firms.
Vanguard’s VTI ETF tracks the CRSP U.S. Total Market Index, which covers large-, mid- and small-cap portions of the U.S. market.
The iShares ITOT ETF tracks the S&P Total Market Index and also encompasses the large-, mid- and small-cap components of the U.S. equity market.
The ETFs that will be available in Trump Accounts are broad-based, low-cost funds that cover a broad segment of the U.S. stock market. (Reuters/Jeenah Moon)
TED CRUZ SAYS TRUMP ACCOUNTS ARE ‘SOCIAL SECURITY PERSONAL ACCOUNTS’ THAT COULD RESHAPE RETIREMENT
With those investment funds on deck and expected to become available in Trump Accounts in the months ahead, the Treasury Department said that it will make an announcement once the investment election functionality becomes available.
The Treasury will also provide instructions for parents and guardians who are the responsible parties for their children’s accounts about how to change the allocation of their investment.
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