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Trump and Xi had a “very good phone call.” President Trump said he spoke to Chinese President Xi Jinping—the first time since Trump’s inauguration in January—for about 90 minutes yesterday, and agreed to meet in the near future for trade talks. According to Trump, the two addressed the issue of rare earth metals, which China stopped exporting in April in response to Trump’s tariffs, though Beijing’s readout of the phone call did not mention rare earths. Trump said the call focused on trade and did not delve into matters concerning Iran, Ukraine, or Russia. A day before the call, Trump posted on social media that he liked Xi but that the Chinese leader was “EXTREMELY HARD TO MAKE A DEAL WITH!!!”

Procter & Gamble is cutting 15% of its nonmanufacturing workforce. The company that makes half the products at your local CVS or Walgreens announced it’s eliminating 7,000 roles as part of a restructuring. P&G said the cuts aren’t a cost-cutting measure, though earlier this year the company admitted it was considering cutting costs after it reported a decline in sales and lowered its annual outlook due to consumer uncertainty. As part of the restructuring, P&G reportedly plans to exit some product categories.

Nintendo Switch 2 consoles are selling like hot cakes. If you’re reading this, that means you’re not playing your new Switch 2, which would put you in the minority in many friend groups. The highly anticipated handheld console officially launched yesterday, selling out instantly at Walmart and other stores for consumers who weren’t lucky enough to snag a preorder. Nintendo said it expects to sell 15 million devices by March 2026, though analysts believe the Japanese video game giant is undershooting estimates. It has sold more than 152 million units of the original Switch, which was released in 2017.—AE

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