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Musk moves to delay Twitter trial, Starbucks eyes sale of UK business, heat wave hits UK, Skittles sued

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Yahoo Finance's Julie Hyman breaks down leading business headlines around the Twitter vs. Musk lawsuit, Starbucks, deadly heatwaves, and Mars being sued over an alleged toxin in Skittles.

Video Transcript

[MUSIC PLAYING]

JULIE HYMAN: Some other headlines we're watching now, Elon Musk has filed for a motion to block Twitter's requested fast track trial over his plan to terminate his $44 billion deal for the company. In the filing, Musk's legal team said Twitter's request is, quote, "unjustifiable." They asked for it to be pushed to February 13 of 2023 at the earliest. Twitter, for its part, would like the trial to take place in mid-September, citing the merger agreement's drop dead date of October 24. Twitter sued Musk early last week after he tried to bail on his agreement to buy the company over what he said are issues with fake and spam accounts.

Starbucks is reportedly exploring the sale of its UK business, as the coffee chain faces hurdles from changing consumer habits and increased competition. The company hired advisors Houlihan Lokey to examine potential options for the business. But Starbucks said it was, quote, "not in a formal sales process" for the company's UK business, but it continues to evaluate strategic options. The chain owns around 1,000 stores in the UK. 70% of those are franchises. The rest are company-owned.

And Britain is expected to face record breaking temperatures this week of 40 degrees Celsius. That's 104 degrees Fahrenheit. As heat waves and wildfires bear down on parts of Europe, the British government declared an unprecedented national heat emergency. Schools there have moved to remote. London's transit agency is urging people not to travel. The EU and scientists are attributing Europe's drought and fire season to climate change. And by the way, that heat wave is happening acutely in parts of the US as well.

And Skittles maker Mars is being sued by a group of consumers who are alleging the candy contains a known toxin that makes it unfit for human consumption. The class action lawsuit states that Skittles are unsafe because they have heightened levels of titanium dioxide. That's what Mars uses to produce Skittles's rainbow of artificial flavors. In 2016, the company said it intended to remove the toxin from its products, but the lawsuit alleges that Mars has not done so. Brad.

BRAD SMITH: All right, Marshawn Lynch is not going to be happy about that. Thanks so much, Julie, for those updates.