Business
- BusinessReuters
US judge rejects Amazon bid to get FTC lawsuit tossed over Prime program
WASHINGTON (Reuters) -A U.S. judge in Seattle on Tuesday rejected Amazon.com's request to dismiss a Federal Trade Commission lawsuit that accuses the company of enrolling millions of consumers into its paid Amazon Prime service without their consent. Attorneys for Amazon had urged U.S. District Judge John Chun to dismiss the FTC's claims. Amazon did not immediately respond to a request for comment.
2 min read - BusinessLA Times
Dozens of shuttered 99 Cents Only stores could reopen under a familiar name: Dollar Tree
Chesapeake, Va.-based Dollar Tree, which operates hundreds of stores in California, reportedly made a bid on about 100 recently shuttered 99 Cents Only locations.
2 min read - BusinessReuters
Cathie Wood's Ark buys stake in Musk's xAI, Bloomberg News reports
The stake represents about 2% of the fund's holdings, according to Ark Chief Futurist Brett Winton in an interview to Bloomberg, which added that Ark Venture Fund revealed the stake in an email to clients. Musk's xAI announced on Monday it had raised $6 billion in series B funding, backed by investors including Andreessen Horowitz and Sequoia Capital.
1 min read - BusinessBloomberg
Elliott Bets $2.5 Billion on Shaking Up Texas Instruments
(Bloomberg) -- Elliott Investment Management has invested more than $2.5 billion in Texas Instruments Inc. and is pushing the chipmaker to improve free cash flow, setting the stage for another campaign by the influential activist investor.Most Read from BloombergWall Street Returns to T+1 Stock Trading After a CenturyTreasuries Hit as US Sales Struggle to Lure Buyers: Markets WrapFor Private Credit’s Top Talent, $1 Million a Year Is Not EnoughIsraeli Airstrike and Egyptian Guard’s Death Ratchet
5 min read - BusinessReuters
Amid merger speculation, Brazilian airline Gol parent talks with Azul
SAO PAULO (Reuters) -The parent company of Brazilian airline Gol has started talks with rival Azul to "explore opportunities," both airlines said on Monday, following media reports earlier this year that pointed to a potential merger. Azul added in a securities filing it has not signed or formalized any new agreement regarding a potential business combination with Gol, which is controlled by Latin American airline holding company Abra Group. Abra Group was formed in 2022 to combine Gol and Co
1 min read - USLansing State Journal
MSU investigation into trustee misconduct, bullying passes $2 million
Michigan State University has also paid for Trustees Rema Vassar and Dennis Denno's legal representation during the investigation into their behavior.
2 min read - BusinessBloomberg
China Financial Firms Are Unusually Cash-Rich as Savers Pile In
(Bloomberg) -- Cash is so abundant in China’s financial markets that even traditionally liquidity-starved firms are swimming with money.Most Read from BloombergWall Street Returns to T+1 Stock Trading After a CenturyTreasuries Hit as US Sales Struggle to Lure Buyers: Markets WrapFor Private Credit’s Top Talent, $1 Million a Year Is Not EnoughIsraeli Airstrike and Egyptian Guard’s Death Ratchet Up TensionsMortgages Stuck Around 7% Force Rapid Rethink of American DreamNon-bank institutions like as
3 min read - BusinessKRON
Tesla Fremont factory faces class action suit alleging ‘severe’ racism against Black workers
(KRON) — The Alameda County Superior Court certified a class action alleging “severe and pervasive race harassment” against Black workers in Tesla’s Fremont factory, the order filed on May 17 said. The court found that “the approximately 500 declarations in support of and in opposition to this motion suggest that over a period of approximately […]
4 min read - BusinessBloomberg
Credit Suisse’s Archegos Debacle Takes Hwang Trial Spotlight
(Bloomberg) -- Newly promoted to equities Delta One head at Credit Suisse Group AG in February 2021, Josh Lukeman said he only became familiar with Archegos Capital Management that month.Most Read from BloombergWall Street Returns to T+1 Stock Trading After a CenturyTreasuries Hit as US Sales Struggle to Lure Buyers: Markets WrapFor Private Credit’s Top Talent, $1 Million a Year Is Not EnoughIsraeli Airstrike and Egyptian Guard’s Death Ratchet Up TensionsMortgages Stuck Around 7% Force Rapid Ret
5 min read - BusinessBusiness Insider
Wedding-dress designer Hayley Paige got her name back. Here's a complete timeline of her yearslong legal battle with JLM Couture.
Hayley Paige Gutman's legal issues with JLM Couture finally came to a close after she reached a $263,000 settlement with the company.
63 min read - BusinessRetail Banker International
Wipro to drive Close Brothers’ tech delivery and transformation
Collaboration aims to create a more digitally enabled, resilient and sustainable IT environment
2 min read - BusinessZacks
Nucor (NUE) Stock Dips While Market Gains: Key Facts
Nucor (NUE) reachead $168.39 at the closing of the latest trading day, reflecting a -1.68% change compared to its last close.
2 min read - BusinessZacks
Why Whirlpool (WHR) Outpaced the Stock Market Today
In the latest trading session, Whirlpool (WHR) closed at $86.76, marking a +0.28% move from the previous day.
3 min read - USUSA TODAY
Former mayor of South Dakota town charged in shooting deaths of 3 men
Jay Ostrem, 64, was booked into the Minnehaha County Jail on Tuesday in connection with the shootings in in Centerville, South Dakota.
3 min read - USMarketWatch
‘I feel like an idiot. I need every cent to retire’: I gave a friend $20,000 to buy me a car. He ghosted me. I called the police. What options do I have?
“We met several times in person, and he explained that once I gave him the money that I could trust him.”
4 min read - TechnologyDigital Trends
LG’s Tone Free T80 wireless earbuds come with head tracking — and a free portable speaker
The LG Tone Free T80 wireless earbuds boast a graphene speaker driver, Dolby Head Tracking, and a limited time promotion for a free Bluetooth speaker.
3 min read - BusinessBellingham Herald mcclatchy
This Bellingham health clinic is getting a new name. What other changes should you expect?
What does this change mean for local patients, services and providers?
2 min read - USBloomberg
Texas Storms Cut Power to 1 Million, Some Outages to Last Days
(Bloomberg) -- High winds and heavy rains tore through storm-battered Texas Tuesday, grounding flights, flooding streets and leaving more than 1 million homes and businesses without power — some possibly for days. Most Read from BloombergWall Street Returns to T+1 Stock Trading After a CenturyTreasuries Hit as US Sales Struggle to Lure Buyers: Markets WrapFor Private Credit’s Top Talent, $1 Million a Year Is Not EnoughIsraeli Airstrike and Egyptian Guard’s Death Ratchet Up TensionsMortgages Stuc
3 min read - BusinessFreightWaves
Benchmark DOE/EIA diesel price drops for seventh straight week
The benchmark price used for most diesel fuel surcharges declined for the seventh straight week. The post Benchmark DOE/EIA diesel price drops for seventh straight week appeared first on FreightWaves.
5 min read - BusinessKOIN
40 wineries file $102M lawsuit against PacifiCorp for ‘negligence’ in 2020 wildfires
A group of 40 wineries filed a lawsuit against Pacific Power and its parent company PacifiCorp alleging the company was negligent for deciding to not shut off power during the 2020 wildfires, which damaged their grapes, according to court documents.
3 min read - BusinessZacks
Nasdaq Hits New Closing High; BOX, CAVA Report Q1
Economic data is also lightening up, along with earnings season, but not quite over.
2 min read - BusinessZacks
Lockheed Martin (LMT) Stock Dips While Market Gains: Key Facts
In the latest trading session, Lockheed Martin (LMT) closed at $458.48, marking a -1.9% move from the previous day.
3 min read - BusinessZacks
Schlumberger (SLB) Rises Higher Than Market: Key Facts
In the latest trading session, Schlumberger (SLB) closed at $46.53, marking a +0.63% move from the previous day.
3 min read - USWFLA
Customers of defunct marine construction company want accountability
Customers of AVCO Marine Construction say an ongoing criminal investigation is moving too slowly.
1 min read - BusinessZacks
Tesla (TSLA) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Tesla (TSLA) closed at $176.75, marking a -1.39% move from the previous day.
3 min read - BusinessZacks
Nike (NKE) Rises Higher Than Market: Key Facts
In the closing of the recent trading day, Nike (NKE) stood at $92, denoting a +0.27% change from the preceding trading day.
3 min read - BusinessZacks
Broadcom Inc. (AVGO) Rises Higher Than Market: Key Facts
Broadcom Inc. (AVGO) closed at $1,412.45 in the latest trading session, marking a +0.33% move from the prior day.
3 min read - BusinessZacks
UnitedHealth Group (UNH) Stock Declines While Market Improves: Some Information for Investors
In the most recent trading session, UnitedHealth Group (UNH) closed at $503.68, indicating a -0.88% shift from the previous trading day.
3 min read - BusinessZacks
Why Adobe Systems (ADBE) Outpaced the Stock Market Today
Adobe Systems (ADBE) closed at $478.43 in the latest trading session, marking a +0.63% move from the prior day.
3 min read - USAssociated Press
Oregon wineries and vineyards seek $100 million from PacifiCorp for wildfire smoke damage to grapes
Dozens of Oregon wineries and vineyards have sued PacifiCorp over the deadly 2020 wildfires that ravaged the state, alleging that the utility's decision to not turn off power during the Labor Day windstorm contributed to blazes whose smoke and soot damaged their grapes and reduced their harvest and sales. In the latest lawsuit to hit the utility over the fires, some 30 wineries and vineyards in the Willamette Valley accused PacifiCorp of negligence and requested over $100 million in damages. T
2 min read - BusinessBloomberg
Short Seller Jim Chanos Sued by Partner Alleging Misuse of Funds
(Bloomberg) -- Jim Chanos, the short seller who made his name and fortune on Enron Corp.’s demise, was sued by a partner that accused him of embezzling company funds for his personal use and enriching his girlfriend in the process.Most Read from BloombergWall Street Returns to T+1 Stock Trading After a CenturyTreasuries Hit as US Sales Struggle to Lure Buyers: Markets WrapFor Private Credit’s Top Talent, $1 Million a Year Is Not EnoughIsraeli Airstrike and Egyptian Guard’s Death Ratchet Up Tensi
2 min read - BusinessWDVM
Price check: Where grocery essentials are cheapest at popular DMV supermarkets
WASHINGTON (DC News Now) — Supermarket savings are in sight — not just for consumers using coupons or buying in bulk. Our price tracking at Walmart, Giant and Safeway continues to identify disparities between 10 pantry essentials. The latest Consumer Price Index said grocery prices went up slightly from March to April—though inflation did cool. […]
1 min read - LifestyleMotorious
Young People Are Car Theft Magnets: Study
They’re three times more likely to have their car stolen…
2 min read - USWFLA
Two women are suing former Jaguars kicker Brandon McManus alleging sexual assault
Tony Buzbee, the lawyer who represented two dozen women who accused Deshaun Watson of sexual assault or harassment, said he is the lead counsel representing the women. Buzbee wrote on social media that he and his clients attempted to resolve the matter without litigation.
2 min read - BusinessWFXR Roanoke
Virginia-based tech company fined after ‘whites only’ job posting
ROANOKE, Va. (WFXR) — One information technology services firm based in Virginia, Arthur Grand Technologies Inc. has been ordered to pay a civil penalty after it was accused of posting a discriminatory job advertisement. According to the Department of Justice (DOJ), this comes after a job advertisement was posted in March 2023 restricting eligible candidates […]
2 min read - USFortune
These are the 9 most rent-burdened cities in the U.S. where tenants spend more than one-third of their income on housing, Moody’s says
New Yorkers spend nearly 60% of their income per month on housing, the report shows.
4 min read - BusinessTechCrunch
China's $47B semiconductor fund puts chip sovereignty front and center
China has closed a third state-backed investment fund to bolster its semiconductor industry and reduce reliance on other nations, both for using and for manufacturing wafers — prioritizing what is called chip sovereignty. China's National Integrated Circuit Industry Investment Fund, also known simply as 'the Big Fund,' had two previous vintages: Big Fund I (2014 to 2019) and Big Fund II (2019 to 2024). The latter was significantly larger than the former, but Big Fund III is larger than both at
4 min read - BusinessAFP
Oil rises, stock markets mixed before key inflation data
Oil prices rose Tuesday on tensions in the Middle East while stock markets wavered as investors awaited key inflation data later this week. "Risk sentiment has faltered in recent weeks, and global stock markets have experienced a mild sell off as the focus shifts to a plethora of economic data that is released this week," said XTB research director Kathleen Brooks.
3 min read - BusinessReuters
American Airlines cuts second-quarter profit forecast
(Reuters) -American Airlines on Tuesday cut its second-quarter profit forecast on weaker pricing power, sending its shares of down about 8% in aftermarket trading. The company also said its Chief Commercial Officer Vasu Raja will leave in June. Raja has been spearheading the airline's new business strategy.
2 min read - USWPXI
Penn Highlands Healthcare to pay $735K to settle False Claims Act allegations
Penn Highlands Healthcare will pay $725,000 to settle a lawsuit alleging False Claims Act infringement.
1 min read - BusinessBenzinga
Apple's Defense Of App Store Fees Backfires As U.S. District Judge Calls Out Executives
Apple faces increasing scrutiny over its App Store fees as a U.S. District Judge raises concerns about its practices. Carson Oliver, Senior Director for Business Management for the App Store, testified before U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, defending the company’s 27% commission on certain in-app purchases. However, Judge Rogers questioned the justification for this rate, citing a study commissioned by Apple that suggested a rate half of that would be more appr
3 min read - BusinessThe Columbus Dispatch
Former presidential candidate and Ohioan Ramaswamy buys big into BuzzFeed, demands change
Ohio native and former Republican presidential candidate Vivek Ramaswamy has taken a stake in BuzzFeed and is pushing for big changes at the website.
3 min read - BusinessSkift
Booking Holdings’ Glenn Fogel Was the Highest-Paid Travel CEO
CEO pay versus performance: See the highest-paid travel bosses and how they scored on total returns for their shareholders.
3 min read - BusinessFootwear News
From VF to Crocs, Here Are the Shoe Brands That Named New CFOs This Month
Throughout the last month, Crocs, Wolverine Worldwide, Superfeet and more brands have named new CFOs.
2 min read - BusinessBloomberg
Robinhood Jumps on Plan to Buy Back Up to $1 Billion of Shares
(Bloomberg) -- Robinhood Markets Inc. jumped after the retail brokerage announced a plan to repurchase as much as $1 billion of its own shares.Most Read from BloombergWall Street Returns to T+1 Stock Trading After a CenturyTreasuries Hit as US Sales Struggle to Lure Buyers: Markets WrapFor Private Credit’s Top Talent, $1 Million a Year Is Not EnoughIsraeli Airstrike and Egyptian Guard’s Death Ratchet Up TensionsMortgages Stuck Around 7% Force Rapid Rethink of American DreamThe firm expects the b
1 min read - BusinessSourcing Journal
Arizona Class Action Alleges Patagonia Used ‘Spy Pixels’ to Amass Sensitive Consumer Info
A class-action lawsuit filed in Arizona federal court last week accused the outdoor brand of violating the state’s Telephone, Utility and Communication Service Record Act.
2 min read - TechnologyTechCrunch
Apple's Design Awards nominees highlight indies and startups, largely ignore AI (except for Arc)
With its list of Apple Design Awards finalists, Apple is celebrating indie apps and startups over bigger tech firms — including those offering AI chatbots. At a time when its App Store model has been called into question by legislators and regulators alike, Apple's annual list of what it considers the best and most technically innovative software available on its platform is turning its attention to the little guy. There's no ChatGPT to be found on Apple's list of finalists, for example.
3 min read - BusinessIEN
Stanley Black & Decker Faces $222,000 in Fines After Maintenance Worker Severely Injured
The electrician was repairing an industrial oven.
1 min read - USSouth Florida Sun Sentinel
Fort Lauderdale’s yellow tap water safe to drink, city says
Has the yellow water coming out of the tap got you spooked? Don’t worry. The water is safe to drink, Fort Lauderdale says. Fort Lauderdale has two water treatment plants, but the one that produces clear water has been offline since Thursday. The city was forced to shut down its Peele-Dixie plant after a raw water pipeline was damaged, said Dr. Nancy Gassman, assistant director of Public Works. ...
1 min read - BusinessBenzinga
Nike Wins Partial Victory in Three-Stripe Trademark Battle with Adidas
Nike Inc. (NYSE:NKE) has been given the green light to feature three stripes on some of its trouser designs in Germany following a court ruling. The ruling marks a significant moment in the ongoing legal battle between the U.S. sportswear giant and its German competitor, Adidas AG (OTC:ADDYY). The Duesseldorf regional court had previously barred Nike from using two or three stripes on five of its trouser designs after Adidas filed a trademark infringement lawsuit in 2022, according to a report f
2 min read