Caitlin McCabe

The Chapter 11 proceedings are being led by a group of bondholders, including Bracebridge Capital and Pentwater Capital.

But PIMCO has also submitted a competing offer to finance the business with a $1.5 billion loan.

And talks are underway to create the world's largest mining company with a market value of more than $200 billion.

Rio Tinto is expected to buy copper miner Glencore and has until February 5th to confirm the deal under UK takeover rules.

The deal comes as miners across the industry look to capitalize on a scramble for copper, which is used in data centers supporting AI and cloud computing.

Coming up, we take a look at which food giants stand to win and lose under America's new dietary guidelines, plus why Saudi Arabia is quietly lifting its booze ban.

Those stories after the break.

Earlier this week, when Trump administration officials unveiled sweeping changes to federal nutrition guidelines, one thing was immediately clear.

Investors weren't thrilled about what it means for food giants like Kraft Heinz, Mondelez, General Mills and PepsiCo.

The new inverted food pyramid recommends that people avoid highly processed foods, dramatically increase protein intake, and skip added sugar.

In his remarks, Health Secretary Robert F. Kennedy Jr.

suggested the American government's guidance in the past was aimed at protecting corporate profits.

So, what could the changes mean for the business of food in America?

For more, our producer Daniel Bach spoke to Journal food reporter Jesse Newman.

And in another major change, Saudi Arabia has begun allowing select residents to buy alcohol.

It's part of the kingdom's push to attract expats, but as Middle East correspondent Omar Abdel-Baki explains, the process of actually buying booze at the only known liquor store in the country's capital, Riyadh, remains a bit unusual.

According to analysts and people familiar with the Saudi rulers' thinking, more changes could be in store, including allowing alcohol at new resorts popping up along the Red Sea.

And that's it for What's News for this Friday morning.

Today's show is produced by Hattie Moyer and Daniel Bach.

Our supervising producer was Sandra Kilhoff.