Pork-flavored coffee is Starbucks' newest pitch

Walmart to buy Irvine's Vizio for $2.3 billion

Walmart is buying Irvinebased TV maker Vizio for $2.3 billion as it attempts to expand its rapidly growing advertising business to compete with Amazon.

If completed, the deal would give Walmart access to Vizio's SmartCast operating system, allowing the retail behemoth to offer its suppliers the ability to display ads on streaming devices.

Walmart has been ramping up its media and ad business with Walmart Connect, giving advertisers access to Walmart's massive customer base.

In its earnings release on Tuesday, Walmart said its global advertising business grew approximately 28% to $3.4 billion last year.

The moves come as Amazon announced last month it would start charging its Prime members $2.99 per month to keep their movies and TV shows ad-free, on top of the fee it charges for Prime: $14.99 per month or $139 per year.

Vizio's SmartCast system has 18 million active accounts and has grown by 400% since 2018.

The companies say that Vizio's platform has more than 500 direct advertisers and that ads now account for the majority of the company's gross profit.

Ford slashes price of electric Mustang

Ford Motor Co. cut the price of its electric Mustang Mach-E by as much as $8,100 after its sales tumbled 51% in January when the automaker had to stop offering tax incentives on the plug-in model.

The automaker lowered prices on several versions of the 2023 model Mach-E by a range of $3,100 to $8,100, according to an emailed statement Tuesday.

The battery-powered crossover SUV that Ford makes in Mexico now starts at $39,895, down from $42,995. The biggest discount is offered on several versions, including the high-end premium model with an extended range battery, which now starts at $45,895.

Amid an industrywide slowdown in demand for electric vehicles, Ford's EV sales fell 11% in January. On Jan. 1, the Mach-E lost its eligibility for a $3,750 U.S. tax credit as the Biden administration tightened rules on stimulus measures to prevent EV makers from sourcing battery materials from China and other foreign adversaries. Ford also is cutting production of the Mach-E and the F-150 Lightning plug-in pickup truck.

“We are adjusting pricing for 2023 models as we continue to adapt to the market to achieve the optimal mix of sales growth and customer value,” Ford said in the statement.

Starbucks is betting on that unusual combination with a new drink released in China to mark the Lunar New Year. Dubbed the Abundant Year Savory Latte, the brand describes it as having an “interesting” flavor.

The drink combines Dongpo Braised Pork Flavor Sauce with espresso and steamed milk, with extra pork sauce and pork breast meat for garnish, according to the Starbucks delivery app.

The drink is priced at 68 yuan ($9.45), according to the app.

Photos of the drink, posted on Chinese social media platform Weibo by the Shanghai Starbucks Reserve Roastery, show a drizzle of dark red sauce atop the latte foam with a square slice of pork on a skewer resting on the mug rim.

“Eating meat means prosperity in the coming year,” the roastery wrote on Weibo on Feb. 5, days before the Lunar New Year began.

Lunar New Year is one of the biggest annual holidays in Asia.

Compiled from CNN and Bloomberg reports.