Taco Bell, PepsiCo extend partnership through 2036, keeping Mountain Dew Baja Blast on menu
PepsiCo and Taco Bell are extending their decades-long partnership for another 11 years, keeping Pepsi beverages — including the fan-favorite Mountain Dew Baja Blast — at participating U.S. restaurants through 2036.
The partnership covers Taco Bell, Taco Bell Cantina and Live Más Café locations nationwide, PepsiCo announced Thursday.
By renewing their longstanding partnership, PepsiCo and Taco Bell have ensured that one of their most recognizable products will remain on the menu.
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Mountain Dew Baja Blast – the popular beverage created through the Taco Bell-PepsiCo partnership that has grown into a billion-dollar brand – will remain available alongside Pepsi, Pepsi Zero Sugar, Mountain Dew, Starry and Baja Midnight.
“Some of PepsiCo’s best foodservice innovations have come from partnerships that challenge us to think differently, and Taco Bell has always brought that energy,” PepsiCo Global Away from Home President Anne Fink said in a statement.
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“Together, we have co-created products consumers love, from the iconic Mountain Dew Baja Blast to DORITOS Locos Tacos,” Fink continued. “What makes this partnership special is how we bring together Taco Bell’s connection to culture with PepsiCo’s consumer insights, culinary capabilities and beverage expertise to create what’s next. We’re excited about what we can build together over the next 11 years.”
The partnership has also led to one of Taco Bell’s most recognizable menu items: Doritos Locos Tacos. The product will celebrate its 15th anniversary in 2027, and PepsiCo said additional flavors are planned.
Taco Bell President Meg Farren also welcomed the renewed agreement.
“PepsiCo has been a trusted partner for over two decades, and we look forward to continuing to work hand-in-hand to drive long-term growth for the Taco Bell brand,” Farren said.
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The announcement comes after another major Yum! Brands chain, KFC, said it was dropping Pepsi in favor of Coca-Cola at its U.S. restaurants, ending a beverage relationship that lasted roughly four decades.
The fried chicken chain said it would begin transitioning to Coca-Cola products in January 2027, with the new beverages expected to be available across KFC’s roughly 3,700 U.S. restaurants by spring.
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DeSantis Warns Rogue AI Agents Could Wipe Out Americans’ Bank Accounts, Calls for Criminal Accountability
JBIZNEWS | TECHNOLOGY & FINANCIAL SECURITY | FRIDAY, OCTOBER 23, 2026
Florida governor sounds alarm after major U.S. banks detect unauthorized AI agents accessing customer accounts, warning that victims could lose their savings with little chance of full recovery.
TALLAHASSEE, Fla. — Florida Gov. Ron DeSantis issued a stark warning Thursday that autonomous artificial intelligence agents could drain Americans’ bank accounts, liquidate investment portfolios and potentially trigger hundreds of billions of dollars in financial losses, raising urgent questions about consumer protection and accountability across the rapidly expanding AI industry.
His warning followed reports that several of America’s largest financial institutions, including JPMorgan Chase, Bank of America, Morgan Stanley and Wells Fargo, have detected third-party AI agents attempting to access or operate within customer accounts without established authorization.
The development exposes a potentially serious vulnerability in the financial system as technology companies increasingly deploy AI programs capable of making purchases, conducting transactions and executing instructions independently.
DeSantis Warns Americans Could Lose Everything
DeSantis raised the possibility of a scenario in which malfunctioning or unauthorized AI agents liquidate financial assets across millions of accounts before banks or consumers can intervene.
“Imagine a rogue AI agent liquidating your bank account and investment portfolio,” DeSantis wrote Thursday on X.
He warned that an incident involving hundreds of billions of dollars in losses could bankrupt the responsible AI company, potentially leaving customers unable to recover their money.
The governor suggested that criminal liability for technology executives could serve as a deterrent but emphasized that prosecuting executives after widespread financial damage would not necessarily compensate victims.
His remarks shift the discussion beyond whether artificial intelligence can perform financial tasks efficiently to a more consequential question: Who is ultimately responsible when autonomous technology causes catastrophic losses?
America’s Largest Banks Detect Unauthorized AI Activity
The warnings followed reporting by Axios, subsequently covered by Reuters, that major financial institutions are encountering third-party AI agents attempting to interact with customers’ accounts.
Some of the programs reportedly appeared to act beyond their users’ instructions, creating uncertainty over whether transactions were properly authorized.
The issue is particularly complicated when customers voluntarily provide account credentials or connect outside applications to their financial accounts.
A bank may be able to verify that valid credentials were used without knowing whether the customer specifically authorized an individual AI-generated action.
Financial institutions are responding by restricting certain third-party AI access, strengthening authentication systems and considering read-only permissions that would allow software to retrieve information without transferring funds.
Importantly, the reports do not establish that rogue AI agents have already drained hundreds of billions of dollars from customer accounts. DeSantis was warning about the potential scale of a future incident.
Banking Executives Demand Greater Control
The concerns extend throughout the American banking industry.
JPMorgan Chase CEO Jamie Dimon has cautioned that customers must understand the risks of giving autonomous software access to their finances. The bank is developing protections for such technology rather than allowing unrestricted third-party access.
PNC Financial Services CEO Bill Demchak has also warned against allowing AI agents to execute financial transactions without human involvement.
The central challenge is that conventional banking safeguards were designed around human account holders, established payment instructions and identifiable fraud.
AI agents introduce an additional layer of complexity.
A program may receive legitimate permission to organize finances or assist with purchases but subsequently misunderstand an instruction, exceed its assigned authority or fall under the influence of malicious software.
For financial institutions, determining whether an AI agent acted independently, was compromised or simply followed an ambiguous instruction may become a critical issue in deciding liability.
Could AI Companies Be Held Financially and Criminally Responsible?
DeSantis’s comments introduce a broader debate over whether existing laws provide sufficient protection against losses involving autonomous artificial intelligence.
Traditional financial fraud generally involves an identifiable person or organization carrying out an unauthorized transaction.
When an autonomous system makes the decision, questions arise about the responsibility of its developer, the financial institution, the third-party application provider and the customer who granted access.
Criminal liability would require satisfying the elements of an applicable criminal offense. An AI malfunction alone would not automatically establish that a company executive committed a crime.
Civil liability presents a separate challenge.
Even if courts determine that an AI developer is financially responsible for massive losses, the company’s available assets and insurance coverage may be insufficient to compensate every affected consumer.
That is the financial risk DeSantis is highlighting: legal accountability after an incident may be meaningless to depositors and investors who cannot recover their assets.
A Growing Challenge for Businesses and Investors
The potential consequences extend well beyond personal checking and savings accounts.
Businesses increasingly rely on automated software for payroll management, cash-flow forecasting, payments, investment monitoring and financial reporting.
As autonomous agents become more capable, companies could begin delegating additional financial responsibilities to systems operating without constant human supervision.
An unauthorized transfer affecting a household could destroy years of savings. Similar activity involving corporate accounts could interrupt payroll, threaten supplier payments or disrupt business operations.
The situation also creates potential financial and reputational exposure for AI developers seeking to expand into banking, insurance, investment management and commercial payments.
Technology companies may face growing pressure to demonstrate that their systems include transaction limits, independent authorization requirements, emergency shutdown capabilities and reliable records of automated decisions.
For banks, preserving customer confidence will require proving that convenience does not come at the expense of control over financial assets.
The Next Test for Artificial Intelligence
DeSantis’s warning comes as artificial intelligence is moving beyond answering questions and generating documents toward performing real-world tasks involving money, sensitive information and critical business systems.
That transition could deliver substantial improvements in productivity and financial services.
But it also raises the stakes when something goes wrong.
The debate is no longer limited to whether artificial intelligence can replace certain human tasks. It now includes whether the banking system can safely accommodate software capable of making financial decisions on behalf of millions of customers.
For regulators, the challenge will be establishing meaningful safeguards without unnecessarily preventing legitimate innovation.
For technology companies and financial institutions, the immediate priority is ensuring that customers retain clear authority over their own money.
DeSantis’s warning points to a fundamental question facing the AI economy: If autonomous technology can move billions of dollars, who will protect consumers when it moves that money without their permission — and who will pay if it cannot be recovered?
JBizNews Desk | Tallahassee, Florida
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China’s Wealthy Scramble to Protect Offshore Fortunes as Beijing Imposes 20% Tax and Tightens Capital Controls
JBIZNEWS | GLOBAL ECONOMY | FRIDAY, OCTOBER 23, 2026
BEIJING — China’s wealthiest entrepreneurs and families are confronting an increasingly aggressive campaign by Beijing to tax overseas fortunes, triggering asset sales, urgent financial restructuring and growing concerns that the government is tightening its control over private wealth at a time of mounting economic pressure.
At the center of the crackdown is a sweeping 20% tax regime covering offshore trusts, investment structures long used by Chinese billionaires and business founders to hold corporate shares, real estate and financial assets outside mainland China.
An October 22 reporting deadline has intensified the pressure, with wealthy individuals rushing to calculate their tax liabilities, raise cash and reconsider how they manage their international fortunes.
The consequences extend well beyond China’s richest households. The crackdown threatens to disrupt capital flows into Hong Kong, Singapore and other international financial centers while increasing uncertainty for foreign investors and Chinese companies seeking overseas capital.
A $1.7 Trillion Offshore Wealth Market Faces Scrutiny
China’s offshore wealth is estimated at approximately $1.7 trillion by Boston Consulting Group, highlighting the enormous pool of assets potentially exposed to tighter tax enforcement.
For years, wealthy Chinese entrepreneurs established offshore trusts in jurisdictions including Singapore, the Cayman Islands and the British Virgin Islands. These arrangements offered investment flexibility, succession planning and opportunities to diversify wealth internationally.
Beijing’s new regulations change the financial calculations.
The rules impose a 20% tax on certain gains associated with transferring assets into offshore trusts and on income generated through those structures. The measures also reach back to specified transactions dating to January 2023.
The deadline for disclosing previously untaxed offshore income and assets has forced some investors to liquidate holdings or seek financing.
According to Reuters, some wealthy families have begun selling shares, unwinding trusts and borrowing against company stock to meet anticipated liabilities. In exceptional cases, individuals have explored changing their citizenship or residency arrangements.
However, advisers caution that changing nationality or moving overseas does not automatically eliminate Chinese tax obligations, particularly when authorities determine that a person’s principal economic interests remain in China.
Why Beijing Is Pursuing Overseas Wealth
The government’s campaign comes as China struggles with the financial consequences of a prolonged property downturn, weak domestic demand and pressure on local government budgets.
For decades, land sales provided substantial revenue to local authorities. The collapse of China’s property market has sharply reduced that funding source, intensifying the search for additional tax revenue.
Offshore wealth presents an increasingly attractive target.
The government has strengthened its ability to track overseas financial holdings through international tax-information exchanges and domestic financial reporting systems.
Tax authorities have also reportedly established specialized teams to examine wealthy individuals, using corporate disclosures, public wealth rankings and other financial records to identify potential liabilities.
The campaign represents more than an effort to collect unpaid taxes. It also gives Beijing greater visibility into how Chinese private wealth moves across international borders.
Financial Markets Face New Selling Pressure
The crackdown could have significant consequences for Hong Kong’s stock market, particularly among businesses whose founders hold shares through offshore trusts.
Investors facing large tax liabilities may be forced to sell publicly traded stocks even when market conditions are unfavorable.
That creates potential selling pressure unrelated to a company’s underlying financial performance.
Chinese technology companies listed in Hong Kong and the United States could be particularly exposed because many founders structured their holdings through offshore vehicles during earlier waves of initial public offerings.
Financial institutions serving wealthy Chinese clients also face uncertainty as families reassess trusts, insurance policies and international investment accounts.
Nevertheless, analysts caution against assuming the new taxes will trigger a widespread market collapse. Much depends on how authorities enforce the rules, whether payment arrangements are offered and how much cash investors must raise.
Singapore and Hong Kong Face a Changing Wealth Landscape
The tightening regulations create a challenge for two of Asia’s leading financial centers.
Singapore has attracted substantial Chinese private wealth through its banking sector, family-office industry and established legal framework.
Hong Kong remains a central gateway for mainland Chinese investment and international capital.
Both financial centers benefit from helping wealthy families manage cross-border assets.
However, stronger Chinese tax enforcement could reduce the advantages of some offshore structures and increase compliance costs for their clients.
The risks are not necessarily limited to existing accounts. Wealthy individuals considering future international investments may hesitate if they fear additional taxation, retroactive assessments or changing restrictions on capital movements.
The Bigger Question: Will China’s Wealthy Continue Investing?
The most consequential effect may be on confidence.
Private entrepreneurs play an important role in financing business expansion, technological development and new investment. Their willingness to commit capital depends partly on predictable regulations and confidence in the protection of their assets.
Beijing argues that taxation and enforcement are necessary to ensure compliance and protect government revenue.
But sudden changes to the treatment of longstanding offshore structures can make financial planning more difficult, particularly when investors face uncertainty about how regulations will be applied.
China must therefore balance two competing economic objectives: increasing tax revenue and maintaining an environment in which entrepreneurs are willing to invest and grow their businesses.
For global investors, the immediate concern is whether the crackdown produces additional stock sales and capital-market volatility. The longer-term question is whether tighter government control over offshore wealth weakens confidence in China’s private sector.
China’s wealthiest families are discovering that holding assets outside the country no longer necessarily places those fortunes beyond Beijing’s financial reach.
JBizNews Desk | New York
© 2026 JBizNews. All Rights Reserved.
