$125M... That's how much Jack Daniel's owner Brown-Forman is losing each year because of tariffs. Sales rose just 1% last quarter because Europe's retaliatory tariffs specifically targetted America's finest (whiskey, jeans, and motorcycles). The happy hour bright spot: Sales of Brown-Forman's tequila brand combo (Herradura and el Jimador) jumped 13%.
You're dead to me, Amazon... FedEx made the bold move to end its frenemy-ship with the ecommerce beast. Shockingly, Amazon only made up 1.3% of FedEx's annual biz. Then Amazon got deeper in the shipping game — It opened an air cargo hub in Kentucky last month and now lets local logistics entrepreneurs drop-off Amazon packages. Last week's drone delivery teaser (coming from Amazon "in the coming months") was the last straw for FedEx.
Wedding's off... Fiat Chrysler and Renault planned a $40B summer merger. Then a Japanese relative canceled the nuptials. Renault has a long/incestuous relationship with Japan's Nissan (they own a significant chunk of each others' shares) — Apparently Nissan felt betrayed it wasn't asked by Renault for its merger blessing, so Fiat Chrysler pulled out over the family drama.