Rivian eyes new debt deal

JPMorgan Chase & Co. is leading a potential high-yield bond sale for electronic vehicle manufacturer Rivian Automotive Inc., partly to refinance its upcoming debt, according to people familiar with the transaction.

The company aims to raise as much as $2 billion, in part to replace existing bonds that mature in 2026, said the people, who were not authorized to discuss the matter publicly. JPMorgan is sounding out investors on the bond deal, with early pricing discussions around 10%, and a transaction could launch as soon as next week, said the people.

The potential debt deal for Rivian, meanwhile, comes after the company said full-year deliveries will decline more sharply than anticipated just a month earlier. That is due in part to risks President Donald Trump’s trade war will weaken demand for electric vehicles.

Oreo maker sues Aldi over packaging

Snack food maker Mondelez International is suing the Aldi supermarket chain, alleging the packaging for Aldi’s store-brand cookies and crackers “blatantly copies” Mondelez products like Chips Ahoy, Wheat Thins and Oreos.

In a federal lawsuit filed Tuesday in Illinois, Chicago-based Mondelez said Aldi’s packaging was “likely to deceive and confuse customers” and threatened to irreparably harm Mondelez and its brands. The company is seeking monetary damages and a court order that would stop Aldi from selling products that infringe on its trademarks.

Aldi didn’t respond to messages seeking comment. The U.S. branch of Aldi, which is based in Batavia, Illinois, was named in the lawsuit.

In the lawsuit, Mondelez displayed side-by-side photos of multiple products. Aldi’s Thin Wheat crackers, for example, come in a gold box very similar to Mondelez’s Wheat Thins. Aldi’s chocolate sandwich cookies and Oreos both have blue packaging. The supermarket’s Golden Round crackers and Mondelez’s Ritz crackers are packaged in red boxes.

Aldi keeps prices low by primarily selling products under its own labels. The chain has faced lawsuits over its packaging before.

Inflation gauge subdued in April

The Federal Reserve’s preferred inflation measure stayed subdued in April as spending slowed. But the outlook for the economy has become even more muddied amid constant changes to President Donald Trump’s policies.

The personal consumption expenditures price index, released Friday, climbed 2.1% in April from a year earlier, slightly lower than the previous reading of 2.3% and closer in line with the Fed’s 2% target. On a monthly basis, prices increased 0.1% after staying flat in March.

The “core” personal consumption expenditures price index, which strips out volatile food and energy costs and is closely watched as a measure for underlying inflation, rose 0.1% in April. Compared with the same time last year, it is up 2.5%. In March, it rose at an annual pace of 2.6%.

When adjusted for inflation, personal spending rose 0.1% for the month, a significant drop compared to March’s 0.7% increase. Personal income jumped in April, but that largely reflected a rise in Social Security payments.

Compiled from Bloomberg, Associated Press and New York Times reports.