Pepsi reveals a drink to help you sleep

Apple CEO Tim Cook kicking off Apple's "Time Flies" event

Apple hosted its "Time Flies" live stream today and revealed dozens of new features and products including a new iPad and a new Apple Watch. Our team of business researchers at Inside.com live-tweeted the event as it happened.

List of the biggest new products and features Apple released:

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Apple's new Fitness+ service is a competitor to Peloton, whose CEO John Foley called the release "quite a legitimization of fitness content." Peloton's stock was somewhat erratic upon the news.
Apple's Fitness+ service will be $9.99 per month or $79.99 per year and will come on existing hardware. Peloton hardware and subscriptions can cost upwards of $2,000.
The Apple Watch Series 6 comes equipped with blood oxygen monitors.

CNBC's Jim Cramer reported today that Oracle's deal to become TikTok’s ‘trusted tech partner’ in the U.S. will be approved by President Trump this afternoon. The deal fell short of being a full sale, which means that its success is contingent upon President Trump backing down from his original demand for a complete acquisition. Oracle beat out a combined bid from Microsoft and Walmart.

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A full-blown acquisition became impossible after the Chinese government refused to accept any deal that would see TikTok’s AI algorithm acquired by a foreign company.
Treasury Secretary Steven Mnuchin confirmed receiving notice of the deal and said that the Committee on Foreign Investment will review it in the coming week for protections for U.S. citizens’ data.
While Trump also demanded that any deal include a direct payment made to the U.S. treasury, reports indicate that no such clause was included in the agreement.

Disney+ and Lucasfilm released the first full trailer for the second season of "The Mandalorian." The new episodes will continue the first season's storyline, with the Mandalorian (Pedro Pascal) searching for the home planet of The Child (aka Baby Yoda) while evading new villain Moff Gideon (Giancarlo Esposito).

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Season 2 will introduce new characters played by Timothy Olyphant, Rosario Dawson, and Temuera Morrison.
Cast member Gina Carano, who plays Cara Dune on "Mandalorian," stirred controversy on social media over the weekend with anti-mask tweets and comments that were widely viewed as transphobic.
"The Mandalorian" will debut on Disney+ on Oct. 30.

A version of this story first appeared in Inside Streaming. You can read the full issue here.

Pepsi has announced Driftwell, a new enhanced water beverage it claims will improve sleep quality. The drink contains L-theanine, an amino acid found in mushrooms and tea. Pepsi says the drink provides hydration before bed and assists in improving sleep quality and combating the symptoms of stress.

The product:

The idea came from an internal competition within Pepsi where employees developed new product ideas.
The drink also has 10% of the daily recommended dose of magnesium.
It will be available online in December and in stores in Q1 2021.

The industry:

Since the early 2000s, consumer preferences have changed, with sugary drinks being one of the most common items eliminated or reduced in diets.
In 2012, the average child under 18 drank 79 calories (over half a can of Coke) less per day than in 2004. This means that, on average, each child consumed 200 fewer cans of sugary carbonated drinks per year in 2012 than in 2004.
From 2015 to 2020, the market for sugary soft drinks fell by an average of 3.6% each year.
In 2016, the sales of bottled water overtook the sales of sugary soft drinks for the first time.
80% of consumers now want to drink bottled water that serves a functional benefit.

A version of this story first appeared in Inside Business. You can read the full issue here.

QUICK HITS

Louisville, Kentucky has settled a lawsuit concerning the wrongful death of Breonna Taylor. The city will pay Taylor's family $12m and institute a series of police reforms. No officers have yet been charged in her death.
The Justice Department is opening a criminal inquiry into a book written by former National Security Advisor John Bolton concerning the possible leak of classified information.
Israel signed a diplomatic deal with The United Arab Emirates and Bahrain at the White House.
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