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Columbia University President Minouche Shafik has stepped down, becoming the third Ivy League college president to resign amid widespread campus protests over the Israel-Hamas conflict. Shafik notes "this period has taken a considerable toll on my family."

Kraft Heinz's (KHC) trademark ketchup is experiencing supply chain challenges as the summer heat wave in California has significantly impacted tomato crops. The harvest, which will now be collected in October, is estimated to suffer a 20% reduction due to the weather conditions.

Former Chipotle (CMG) CEO Brian Niccol has been named the new chief executive and chairman of Starbucks (SBUX), with his compensation package totaling nearly $113 million. The deal includes a $10 million signing bonus, $75 million in stock grants, and an annual base salary of $1.6 million.

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This post was written by Angel Smith.