Good morning! This is Daniel de Visé bringing you your Daily Money update.

Opponents of Diversity, Equity, and Inclusion (DEI) are now focusing their efforts on LGBTQ+ rights within the business sector, achieving some recent successes.

Molson Coors has scaled back its DEI initiatives, including its withdrawal from a rating index that evaluates how supportive a company’s policies are towards LGBTQ+ individuals.

This move by Molson Coors is part of a broader trend, as several companies are stepping back from supporting LGBTQ+ advocacy.

For more details, check out Jessica Guynn’s report.

Fearless Fund Ends DEI Initiative

In another story by Jessica Guynn:

The Fearless Fund is discontinuing a grant program aimed at Black women, reaching a settlement in a highly publicized case that questioned corporate DEI practices.

As a part of this legal agreement, the Fearless Fund has officially closed its Fearless Strivers grant competition.

In June, the 11th Circuit U.S. Court of Appeals halted the Fearless Fund’s ability to issue $20,000 grants to Black women-owned businesses during the legal proceedings, siding with activist Edward Blum, who argued that the grant program was biased.

This case is just one instance in a larger movement.

🍔 Today’s Topic 🍔

What might Andy Warhol have thought?

After 150 years, the Campbell Soup Company is removing “soup” from its official name, according to Mary Walrath-Holdridge.

Since its inception as Anderson & Campbell in 1869, the company has expanded significantly beyond its original soup offerings to include a variety of food and snack brands such as Pepperidge Farm, Swanson, Pace Foods, Prego, and Snyder’s-Lance, which produce items ranging from salsa and pasta sauce to Goldfish crackers, pretzels, and TV dinners.

Now rebranded simply as “The Campbell’s Company,” it intends to focus on the lucrative snack segment. While soup remains a staple, it’s now secondary to their broader business strategy.

About The Daily Money

Every weekday, The Daily Money provides you with top consumer and financial news from YSL News, simplifying complex stories, summarizing key points, and illustrating how decisions like Federal Reserve actions or bankruptcies could affect you.

Daniel de Visé specializes in personal finance coverage for YSL News.