A Cereal Deal Worth $3B & Delta's Profit Forecast Means Travel is Back

Morning Brew Daily

Morning Brew

News, Business, Business News

4.4 • 2.8K Ratings

🗓️ 11 July 2025

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 624: Neal and Toby unpack Ferrero, the maker of Nutella, acquiring the cereal maker Kellogg in a nearly $3B deal. Then, the Pentagon becomes the largest shareholder for a rare earth mining company. Also, Delta shares jumped 11% signaling traveling is stabilizing. Meanwhile, there’s in-fighting in the matcha community that is leading to a shortage. Plus, Varda Space just bagged $187M in funding to make drugs in space. Meet your local home loan expert at ⁠⁠https://mortgagematchup.com/?utm_source=morning_brew&utm_medium=podcast Subscribe to Morning Brew Daily for more of the news you need to start your day. Share the show with a friend, and leave us a review on your favorite podcast app. Listen to Morning Brew Daily Here:⁠ ⁠⁠https://www.swap.fm/l/mbd-note⁠⁠⁠ Watch Morning Brew Daily Here:⁠ ⁠⁠https://www.youtube.com/@MorningBrewDailyShow⁠

Transcript

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0:00.0	Good morning brew daily show. I'm Neil Fryman. And I'm Toby Howell.
0:07.6	Today, Nutella and Rice Krispies get together in a food deal made in chocolatey heaven.
0:12.4	Then there is a matcha shortage brewing, which is bad news for everyone who pretends to like the taste of it.
0:18.4	It's Friday, July 11th. Let's ride.
0:25.6	Tennis hasn't been this hot since Challenger's came out, and let's face it, it will never
0:30.4	be that hot again.
0:31.8	Still, not only is Wimbledon nearing its epic conclusion, but billionaire investor Bill
0:37.0	Ackman got in on the action,
0:39.0	competing in an ATP Challenger tour event in Newport, Rhode Island Wednesday afternoon.
0:43.9	His stint as a professional tennis player lasted all of 67 minutes, losing a doubles match in
0:49.7	straight sets and was lambasted by pretty much everyone online.
0:53.9	Andy Roddock described it as, quote, the biggest joke I've watched in professional
0:57.7	tennis.
0:58.7	Ackman had only nice things to say about tennis players after the match, writing whatever
1:02.7	respect we already have for these incredible athletes, it is not enough.
1:06.2	They deserve more of our applause and our appreciation.
1:08.9	I mean, Neil, it was rough watching these highlights.
1:12.0	A lot of serving volume kind of ending up in the net.
1:15.5	You never want a billionaire stepping into a pro sporting event
1:18.4	and taking the spot of someone who worked their whole life to get there.
1:21.6	But if I had a couple extra billions to add to my net worth,
1:25.7	I am not proud to say I'd probably do the exact same thing
	...

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