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A Black former factory worker for Tesla has lost his bid for a third trial in his race discrimination lawsuit against the company, as the judge upheld the $3.2 million verdict awarded to him by a jury and rejected Tesla's request to reduce the amount.
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Abercrombie & Fitch has launched an investigation into allegations that its former CEO, Mike Jeffries, exploited men for sex, almost ten years after his employment ended with the company.
The Federal Trade Commission has sued Amazon for allegedly maintaining a monopoly and using a secret algorithm, called Project Nessie, to raise prices and deter competitors from offering lower prices.
Clorox warns of a significant decrease in sales and profit due to a cyberattack, with expectations of a 23-28% decrease in net sales and a per-share loss of 35-75 cents, as the company continues to assess the impact on future periods.
Popeyes has surpassed KFC to become the second-largest chicken chain in the US, with Chick-fil-A remaining at the top spot.
Negotiators for the United Auto Workers (UAW) and Ford Motor have made progress on pay increases, but significant issues such as pay and union representation at future battery plants remain unresolved, as the ongoing strike against the Detroit Three automakers enters its 20th day.
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Cannabis producer Tilray reported a 15% increase in net revenue, reaching $177 million in its fiscal first-quarter, as it expands into the beer industry and strengthens its market position in Canada.
Tesla stock surged 5.2% and cleared its 50-day line after investors showed optimism for a fourth-quarter rebound in deliveries and the launch of the Cybertruck, despite analysts cutting third-quarter EPS estimates ahead of Tesla's Q3 earnings.
McLaren Health Care, the hospital network that experienced a ransomware attack in August, has acknowledged that patient data may have been leaked on the dark web, with the cyberattackers claiming to have stolen 6 terabytes of data, including personal information of 2.5 million patients.
A federal judge in Brooklyn dismissed a false advertising lawsuit against McDonald's and Wendy's, stating that he did not find evidence that the fast-food chains sold smaller burgers than advertised and had not misled customers.
A New Jersey court has thrown out a $224 million verdict against Johnson & Johnson in a lawsuit alleging that their talcum-powder products caused cancer, ordering a new trial due to faulty expert testimony.
The chaos in Washington and uncertainty surrounding a possible government shutdown could make it less likely for the Federal Reserve to raise interest rates again this year, as the economy and inflation appear to be cooling off.
General Motors has secured a $6 billion line of credit in preparation for additional strikes by the United Auto Workers union, following already incurred costs of $200 million during the third quarter.
The rapid surge in US bond yields is causing a selloff in interest rate-sensitive areas of the stock market, raising concerns about the longevity of the current bull run for equities.
Long-term yields on Treasuries have reached levels not seen since the global financial crisis, driven by expectations of higher interest rates, strong U.S. economic data, and concerns about inflation, leading to a sell-off in bonds.
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Warren Buffett, one of the richest men in the world, exemplifies frugality by using coupons at McDonald's and living in the same house he bought for $31,500 in 1958, all while planning to donate over 99% of his fortune to philanthropic causes.
Despite falling short of delivery expectations in Q3, Tesla plans to include an estimated 20,000 units in their Q4 figures as part of their expansion strategy, with analysts predicting better days ahead for the company as they prepare for increased production and the launch of new models.
Fluor Corporation gained 2% after reaching agreements to complete new projects, Carnival and Norwegian Cruise Line rose more than 3%, and Sunnova Energy and Sunrun dropped to near 52-week lows after Truist downgraded the solar stocks.
Major social media platforms such as Meta, TikTok, Twitter, YouTube, Snapchat, Instagram, and Facebook are introducing premium tiers or ad-free subscription plans, signaling a new era where users are expected to pay for access to memes and tweets. This shift in the business model creates perverse incentives and resembles the anti-consumer approach seen in the airline industry.
Moderna has announced positive results from a Phase 1/2 clinical trial of its combination vaccine, mRNA-1083, against both influenza and Covid-19, revealing strong immune responses and safety, with a Phase 3 trial planned for this year for adults aged 50 and older.
Elon Musk's Twitter investment has turned into a financial disaster, with plummeting ad revenue and skyrocketing interest rates leaving the banks in a vulnerable position, potentially paving the way for Musk to restructure the debt or even buy it out at a discount.
Americans are projected to spend a record $12.2 billion on Halloween purchases in 2023, with $3.6 billion being spent on candy, and the most popular Halloween candies by state include Skittles in Alabama, Twix in Alaska, and Reese's Cups in Florida, among others.
Sam Bankman-Fried's high-flying life, filled with wealth, power, and influence, was built on lies and a fraudulent scheme that involved stealing billions of dollars from FTX's customers, according to the prosecution in his trial.
The ousting of House Speaker Kevin McCarthy raises the odds of a government shutdown in November, which could negatively impact the stock market and further challenge an already struggling economy.
General Motors estimates that the United Auto Workers strike will cost around $200 million during the third quarter and has filed for additional credit of up to $6 billion in case of ongoing labor troubles.
Celebrate National Taco Day with deals and promotions at various taco chains, including free tacos at Condado Tacos throughout October and Taco Bell's Taco Lover's Pass, which offers a free taco a day for 30 days for $10.
X Corp., owned by Elon Musk, has been ordered by a judge to reimburse former Twitter executives, including ex-CEO Parag Agrawal, $1.1 million in legal fees after they were fired by Musk.
Apple stock receives a rare downgrade over concerns of slowing US sales and restrictive iPhone promotions, leading to a decrease in its shares.
Apple CEO Tim Cook sold approximately $41 million worth of stock, his largest sale in over two years, as shares of the company decline from recent highs.
Restaurants across the country are offering freebies and discount deals to celebrate National Taco Day on October 4th.
Citigroup managers are conducting a staff review as part of a major reorganization, with job cuts expected to be announced in November.
Lithium mining start-up Lithium Americas completes spin-off, offering investors another way to participate in the EV trend.
Starbucks is closing seven downtown locations in San Francisco amid a decline in the city's quality of life, although the company stated that the decision was part of its regular evaluation of store portfolios.
Warren Buffett has moved up to the fourth spot on Forbes' "Richest People in America" list for 2023 with a net worth of $121 billion.
Rivian, an electric vehicle company, is planning to reduce manufacturing costs by up to $40,000 per vehicle in an attempt to offset its losses of more than $30,000 on each truck sold.
Chipotle's stock edged higher after Oppenheimer shared a positive outlook, despite a price target cut, and CNBC's Jim Cramer also agrees with the optimistic view due to the company's solid fundamentals.
Ford's third quarter EV sales surpassed 20,000 vehicles, with the Mustang Mach-E leading the way, although electric models make up just over 4% of the company's overall sales, and it still trails behind Rivian in terms of EV sales.
US oil prices and energy stocks, including ExxonMobil, Chevron, and Occidental Petroleum, fell as crude oil inventories decreased but gasoline stockpiles increased, while the outlook for demand remains uncertain and refinery stocks struggle.
Ford delivered 500,504 vehicles in the U.S. in the third quarter, including 20,962 all-electric vehicles and 34,861 hybrids, edging out GM in electric-vehicle sales but still falling short of Tesla.
The increasing frequency of extreme weather events and natural disasters is driving more travelers to purchase travel insurance to protect against trip cancellations, lost luggage, and delays, leading to a boost in the travel insurance market.
Novavax's protein-based COVID-19 vaccine has received FDA authorization, providing Americans with an alternative to mRNA vaccines for the booster campaign, with CDC signoff and availability to individuals aged 12 and up.
A US judge denied the Securities and Exchange Commission's attempt to appeal a ruling that digital tokens are not securities when sold to the general public, dealing another blow to the agency's efforts to regulate the crypto industry.
The S&P 500 and Nasdaq rose as data indicated a cooling labor market and U.S. Treasury yields pulled back from their highs.
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SoftBank CEO Masayoshi Son predicts that artificial general intelligence (AGI), which surpasses human intelligence, will be achieved within 10 years, with AGI being ten times more intelligent than the sum total of all human intelligence.
Gold prices hover around session lows as the U.S. service sector experiences a moderate pullback in September, according to data from the Institute for Supply Management (ISM).
FTX co-founder Sam Bankman-Fried is facing trial for allegedly defrauding customers and investors of the FTX cryptocurrency exchange, as prosecutors accuse him of funneling over $8 billion into risky side bets, luxury real estate, and political contributions.
JPMorgan lowers Meta Platforms' price target but maintains a buy rating; Bank of America raises Alphabet's price target citing search market share; Ford's electric vehicle sales show growth; Barclays decreases price targets for CSX, Norfolk Southern, and United Pacific; Citi cuts price targets for various airlines; United orders more Boeing and Airbus jets; Barclays reduces PepsiCo's price target but RBC Capital remains optimistic on Domino's Pizza; McCormick's estimates and price target are lowered by Bank of America and Stifel; Lifetime Brands upgraded by Wells Fargo; Kohl's price target reduced but impressed with new CEO; Fluor upgraded by UBS; Loop recommends buying Snowflake due to AI; Mizuho predicts Coinbase missing revenue estimate; Bank of America increases price target for Molson Coors; Chipotle Mexican Grill's price target is lowered at Oppenheimer.
Falling bond prices in the US, resulting in higher Treasury yields, suggest that a recession might be approaching, according to investor Jeff Gundlach, who is closely watching the upcoming jobs report for further signs.
Apple CEO Tim Cook has sold $88 million worth of his company's stock, marking his largest sale in over two years, taking advantage of Apple's declining market valuation.
Uber is expanding its services to include mailing consumers' return packages, with drivers collecting and dropping off up to five prepaid packages at post offices or FedEx and UPS stores for a flat fee of $5 or $3 for Uber One members.
