Business

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Netflix Cuts 6% Workforce Amid Slowed Growth

Netflix announced plans to lay off roughly 6% of its workforce, impacting about 1,000 employees , according to a memo obtained by multiple outlets including CBS News and The Guardian. The cuts will primarily affect the company's product, technology, legal, and human resources departments. The layoff

Oct 14, 2:35 PM ET Est. Read: 2 Mins

3 articles from 3 publishers

BusinessLegal

Treasury Fines Bank of America $1.2B for Money Laundering Violations

The U.S. Treasury Department has imposed more than $1.21 billion in penalties against Bank of America , the second-largest bank in the United States, for violating anti-money laundering and sanctions laws. The fines announced on Tuesday include the third-largest penalty in Treasury Department histor

Oct 14, 12:30 AM ET Est. Read: 2 Mins

5 articles from 5 publishers

BusinessAutomotive

Paris Auto Show Highlights EV Battle Between Europe & China

The Paris Auto Show opened with a strong emphasis on retro-inspired electric vehicles (EVs) as European automakers attempt to counter growing competition from Chinese manufacturers. Stellantis, which includes brands like Citroën and Peugeot, unveiled an electric version of the iconic Citroën 2CV, wh

Oct 13, 3:17 PM ET Est. Read: 4 Mins

10 articles from 3 publishers

More Business Summaries

Pharmaceuticals

FTC Seeks Contempt Ruling Against Shkreli for Pharma Ban Violation

The Federal Trade Commission (FTC) and seven US states have filed a motion in federal court seeking to hold pharmaceutical executive Martin Shkreli in contempt for allegedly violating his lifetime ban from the pharmaceutical industry. The FTC alleges that since his release from prison in May 2022, S

Oct 13, 1:15 PM ET·2 min read

4 articles from 4 publishers

Corporate

Starbucks Explores Takeover of Chipotle

Starbucks has reportedly explored acquiring Chipotle Mexican Grill, according to a report by the Financial Times . This potential merger would reunite CEO Brian Niccol with the burrito chain he previously led before joining Starbucks two years ago. The news caused Chipotle's shares to jump as much a

Oct 8, 7:08 PM ET·1 min read

3 articles from 3 publishers

Legal

McDonald's Faces Antitrust Suit Over AI Pricing Tool

McDonald's is facing a federal antitrust lawsuit that claims the fast-food giant uses an AI-powered tool to fix menu prices across its independent franchises. The proposed class action, filed in Chicago, alleges that McDonald's leverages its technology to 'nickel-and-dime consumers down to the last

Oct 8, 12:38 PM ET·2 min read

4 articles from 4 publishers

Trade

China Rejects EU Hybrid Car Export Curb Request

China has rejected the European Union's request for voluntary restrictions on hybrid car exports as both sides enter final negotiations to avoid a trade conflict, according to the Financial Times . The EU now hopes Beijing will accept unilateral measures to cap imports instead. The rejection comes a

Oct 8, 5:29 AM ET·1 min read

3 articles from 3 publishers

Corporate

Starbucks Sued Over 'Sugar-Free' Protein Drinks

Starbucks is facing a federal lawsuit over its 'sugar-free' protein drinks, which allegedly contain more sugar than a Reese's peanut butter cup. The suit, filed in Seattle on Friday by law firm Hagens Berman, claims that eight of the chain's protein beverages contain between 13 and 21 grams of sugar

Oct 7, 9:16 AM ET·2 min read

3 articles from 3 publishers

Markets

Global Markets Volatile Amid Rising Borrowing Costs

Global markets experienced significant volatility this week as rising borrowing costs and major tech companies' debt raises strained sovereign bond markets. Asian shares slipped on Thursday, with Japan's Nikkei dropping 0.9%, South Korea's KOSPI falling 0.6%, and MSCI's broadest index of Asia-Pacifi

Oct 3, 8:44 AM ET·2 min read

18 articles from 4 publishers

Corporate

Paramount Completes $111B Warner Bros Deal

Paramount has finalized its $111 billion acquisition of Warner Bros. Discovery, creating a new media conglomerate named Skydance with David Ellison as CEO ( The Guardian , PBS ). The merger brings together two of Hollywood's oldest studios and major entertainment assets including HBO Max, Paramount+

Sep 30, 8:19 PM ET·3 min read

20 articles from 8 publishers

Corporate

Starbucks to Close 250 North American Stores

Starbucks will close about 250 underperforming stores across North America this week as part of its ongoing restructuring efforts. This marks the second major wave of closures since CEO Brian Niccol took over in 2024, according to Los Angeles Times , PBS , and UPI . The company announced the closure

Sep 24, 5:14 PM ET·2 min read

3 articles from 3 publishers

Energy

Trump Considers Diesel Export Ban Amid Record Prices

President Donald Trump is considering banning U.S. diesel exports to address record-high fuel prices amid global energy disruptions caused by conflicts in Ukraine and Iran. Average diesel prices reached $6.53 per gallon on Sept. 14, a 74% increase from the same period last year. The proposal comes a

Sep 23, 3:47 PM ET·2 min read

12 articles from 9 publishers

Corporate

Converse Pulls Ad Criticized for Racist Imagery

Converse has removed an Instagram ad featuring K-pop singer Karina that drew criticism for evoking racist imagery associated with the Ku Klux Klan and lynching. The ad, which showed Karina wearing a white skirt and holding Chuck 70 X sneakers, was widely condemned online. The triangular shape create

Sep 23, 7:28 AM ET·1 min read

5 articles from 5 publishers

Corporate

DoorDash Settles NYC Wage Claims for $131.5M

DoorDash has agreed to a $131.5 million settlement with New York City to resolve allegations that the company underpaid or delayed payments to its delivery workers between April 2022 and June 2026, according to multiple reports. The settlement includes $12.3 million for over 264,000 delivery workers

Sep 23, 7:28 AM ET·1 min read

5 articles from 5 publishers

Corporate

Paramount Clears Legal Hurdle for $110B Warner Bros Deal

Paramount Global has reached a settlement with California and several other states, paving the way for its $110 billion acquisition of Warner Bros. Discovery. The deal faced legal challenges from a coalition led by California Attorney General Rob Bonta but now includes concessions to address antitru

Sep 23, 7:28 AM ET·2 min read

17 articles from 9 publishers

Corporate

Nvidia to Acquire Hugging Face for $12.9B

Nvidia has agreed to acquire the open-source AI platform Hugging Face in a deal valued at $12.9 billion, according to multiple reports. The acquisition represents approximately 0.2% of Nvidia's current market value of $5.5 trillion and marks the company's second-largest purchase on record. The acqui

Sep 4, 2:56 AM ET·1 min read

10 articles from 3 publishers

Corporate

Volkswagen to Cut 50,000 Jobs by 2030

Volkswagen announced plans to cut 50,000 jobs globally by 2030 , as reported by multiple sources including The Guardian and UPI. This decision comes amidst fierce competition from Chinese rivals, US tariffs, and decreasing sales in China. According to Volkswagen's statement, management and unions ha

Sep 3, 7:48 PM ET·2 min read

7 articles from 4 publishers

Economy

Automakers Urge Congress to Ban Chinese Vehicles

Major automakers urged U.S. Congress to pass legislation banning Chinese vehicles from the American market before year-end, citing concerns over subsidized competition and national security risks. The Alliance for Automotive Innovation, representing General Motors, Ford, Toyota, Volkswagen, Hyundai,

Sep 3, 3:40 PM ET·1 min read

4 articles from 4 publishers

Markets

Yen Surges to One-Month High on BoJ Rate Hike Bets

The Japanese yen surged by more than 1% against the U.S. dollar on Thursday, reaching a one-month high of ¥156.4 per dollar as traders speculated about potential Bank of Japan (BoJ) interest rate hikes and further government intervention to support the currency. According to The Guardian , the yen's

Sep 3, 8:13 AM ET·3 min read

7 articles from 3 publishers

Corporate

Judge Rejects DOJ Bid to Force Google Ad Tech Sale

In a significant victory for Alphabet’s Google , a federal judge in Virginia rejected the U.S. Department of Justice's (DOJ) request to force the company to sell its online advertising exchange business, known as AdX ( The Guardian , UPI , Ars Technica ). The ruling follows an April 2025 decision by

Sep 2, 6:18 PM ET·2 min read

3 articles from 3 publishers

Corporate

Southwest to Open First Lounges in Four Airports

Southwest Airlines announced plans to open its first-ever airport lounges in four U.S. cities: Austin, Baltimore, Honolulu, and Nashville. The airline stated that construction has already begun at these locations, with the lounges expected to debut in late 2027. The new lounges will be accessible th

Sep 2, 6:18 PM ET·2 min read

3 articles from 3 publishers

Corporate

Uber Cuts 3,300 Jobs in Largest Layoff Since Pandemic

Uber Technologies plans to cut around 3,300 jobs , or roughly 10% of its workforce, as part of a major restructuring aimed at simplifying management layers and consolidating teams. According to multiple reports, CEO Dara Khosrowshahi announced the changes on Wednesday in an effort to create a 'simpl

Sep 2, 2:51 PM ET·2 min read

4 articles from 4 publishers

Energy

Chevron to Double Venezuela Oil Production with $7B Investment

Chevron announced a $7 billion investment over five years to double its oil production in Venezuela from 280,000 barrels per day (bpd) to approximately 600,000 bpd by 2031. This expansion follows a recent U.S.-Venezuela deal granting North American Blue Energy Partners access to vast reserves. The i

Sep 2, 10:55 AM ET·2 min read

9 articles from 6 publishers

Corporate

John Ternus Takes Over as Apple CEO

John Ternus has officially taken over as Apple CEO, succeeding Tim Cook after a 15-year tenure that saw the company's value grow from $350 billion to over $4.6 trillion. According to Reuters and Al Jazeera, Cook transitions to executive chairman, focusing on global policy relations amid U.S.-China t

Sep 1, 10:40 AM ET·3 min read

7 articles from 6 publishers

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Business

Netflix Cuts 6% Workforce Amid Slowed Growth

Treasury Fines Bank of America $1.2B for Money Laundering Violations