☕️ Why is John Bolton in the news?

Good morning!

You didn’t think we’d open this newsletter with anything except Taylor Swift’s engagement, did you? The announcement just about broke the internet and I suspect it’ll be dominating your office chat today.

I’ve got 30 seconds

Some headlines from this morning:

• Indian goods entering the U.S. will face tariffs of up to 50% from today. Tariffs were increased by 25% on India weeks ago to encourage India to stop buying Russian products. India’s Prime Minister Narendra Modi announced he would lower taxes to help companies adjust to the higher tax rate, calling it a "massive tax bonanza". Modi also told Indian exporters to look to becoming self-reliant, saying: "We should become self-reliant - not out of desperation, but out of pride.

• Officials at the Federal Emergency Management Agency (FEMA) who signed a letter warning Congress that Trump administration budget and staffing cuts compromised U.S. disaster response were put on leave on Tuesday. 180 current and former FEMA employees signed a letter saying that President Trump and his delegate, Kristi Noem, have weakened the agency, ignored its congressional mandate, and appointed unqualified leadership. Only 36 individuals signed the “Katrina Declaration” publicly, and a day later, they received an email stating that they would “will conduct no business, visit no FEMA/DHS facility, and contact no FEMA/DHS personnel.”

I’ve got 1 minute

Southern food outlet Cracker Barrel has seen a rise in stock price after reversing its recent logo change that sparked conservative accusations the chain had gone ‘woke’.

Outrage from diners went viral on social media and included responses from President Trump, MAGA influencer Charlie Kirk, and the Democratic Party.

“We said we would listen, and we have. Our new logo is going away, and our ‘Old Timer’ will remain,” the company said in a statement accompanying the change of course.

What happened?

Cracker Barrel offers Southern-inspired comfort food. Its logo features the chain's name, ‘Cracker Barrel’, next to the figure of a man known as the ‘Old Timer’ sitting in a chair and leaning on a wooden barrel.

Underneath the logo is the store motto, ‘Old Country Store’.

Earlier this month, a new design was unveiled. The design was almost identical, but had removed the ‘Old Timer’ Uncle Herschel.

The new logo formed part of a $700 million rebrand plan to revitalise the 56-year-old eatery.

Speaking of the new logo, Company CEO Julie Felss Masino said: “Cracker Barrel needs to feel like the Cracker Barrel for today and for tomorrow.”

Outrage

The restaurant chain’s rebrand was criticized online by people who claimed the removal of a ‘southern character’ was a move towards progressive politics.

Om this, President Trump said: “Make Cracker Barrel a WINNER again”. The President added “Go woke, go broke” next to a doctored picture of the new logo.

The official Democratic Party account also posted about the change, saying, “We think the Cracker Barrel rebrand sucks too.”

Shares in the company dove in response to the backlash, diving 7% this week.

Reversal

“We thank our guests for sharing your voices and love for Cracker Barrel. We said we would listen, and we have. Our new logo is going away, and our ‘Old Timer’ will remain,” the company said in response to the outrage.

President Trump praised the move, saying, “All of your fans very much appreciate it. Good luck into the future.”

Stock markets also responded positively. Cracker Barrel stock is now up nearly 3 and a half points.

I’ve got 2 minutes

Former National Security Advisor John Bolton criticized his old boss, President Trump, in an opinion column published by the Washington Examiner on Monday.

The column comes after Bolton’s house was raided last week as part of an investigation into allegations that he mishandled and shared sensitive information.

The ex-White House advisor has become a major critic of President Trump. The White House has rejected assertions that the ongoing investigation and raids are part of a Trump administration campaign to prosecute political dissent.

Advisor to critic

John Bolton served as the third national security advisor during President Trump’s first term. In September 2019, President Trump fired him, saying he disagreed with much of Bolton’s advice.

Bolton emerged as an outspoken critic of the Trump administration after he was fired. He published “The Room Where It Happened” in 2020, which included significant criticism of President Trump’s first term in the White House.

Since the book's publication, Trump has targeted Bolton with insults, calling him a “low life”. One of Trump’s first moves when he entered office was to remove Bolton’s security detail despite an ongoing threat from Iran.

Investigation and raid

When Bolton published his 2020 memoir, the Justice Department launched a criminal investigation. They alleged that Bolton disclosed national security information in the book.

A grand jury issued subpoenas as part of the criminal investigation into Bolton’s handling of national security information. In addition to unauthorised disclosures, the investigation also includes unauthorized removal of national security documents.

The investigation ran through the Biden presidency and has become more active since President Trump took office for the second time.

On Friday, FBI officials told U.S. media they were “conducting court-authorized activity in the area” after FBI agents were seen entering John Bolton’s house in Maryland. Bolton claims they also searched his office.

President Trump denied knowledge of the raid, but Vice President JD Vance said, “We’re in the very early stages of an ongoing investigation into John Bolton.”

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