Business

The Associated Press reports: More than 1.15 million power banks are under recall across the U.S. after some fires and explosions were reported by consumers. Electronics maker Anker Innovations is recalling certain “PowerCore 10000” power banks because the lithium-ion battery inside can overheat. An overheating battery can lead to “melting of plastic components, smoke, and fire hazards,” Anker wrote. The …

The Wall Street Journal reports: Some of the biggest merchants are exploring how to issue or use stablecoins, potentially shifting the high volumes of cash and card transactions that they handle outside the traditional financial system and saving them billions of dollars in fees. Walmart, Amazon, and other multinational giants have recently explored whether to issue their own stablecoins in …

The Associated Press reports: Louisiana Attorney General Liz Murrill announced Thursday she is investigating whether pharmaceutical giant CVS improperly used customers’ personal information to send out text messages lobbying against a proposed state law. Murrill also said she plans to issue a cease-and-desist letter to the company to stop the messages. As lawmakers debated a now-failed bill on Wednesday they …

CBS News reports: Silver Airways abruptly scuttled all of the Florida regional carrier’s flights and told passengers booked on flights scheduled to depart Wednesday not to go to the airport. The bankrupt carrier said in an Instagram post that it would no longer serve customers as of June 11. Silver Airways also said it struck an agreement to sell it …

Ars Technica reports: Amid all the Gemini hype at Google I/O last month, the company also turned one of its experiments into a (kind of) real product. Project Starline was reborn as Google Beam, a 3D video conferencing system that makes it look like you’re in the same room with the other party. Google said HP would reveal the first …

NPR reports: Twenty-seven states and the District of Columbia on Monday filed a lawsuit in bankruptcy court seeking to block the sale of personal genetic data by 23andMe without customer consent. The lawsuit comes as a biotechnology company seeks the court’s approval to buy the struggling firm. Biological samples, DNA data, health-related traits and medical records are too sensitive to …

CBNC reports: The CEOs of Uber, Dell, Goldman Sachs and more are expected to announce Monday that they will collectively invest billions of dollars into so-called “Trump accounts” for the children of their employees, a White House spokesperson confirmed to CNBC. The executive are slated to make the commitments during President Donald Trump’s roundtable event touting the eponymous pilot program, …

NewsNation reports: About 1.7 million window air conditioning units have been recalled in the U.S. after 17 customers reported getting sick from fungal growth in the appliance. The Midea U and U+ window air conditioners may fail to drain quickly, causing mold growth that “poses risks of respiratory issues or other infections to some consumers,” according to the U.S. Consumer …

Axios reports: Coign, a self-described credit card “built for conservatives,” claims to have launched the first fully AI-generated national television commercial, at least in the financial services industry. Hyper-realistic AI videos flooded the internet after the release of Google’s Veo 3 tool last month. Now, signs are emerging of a potentially massive disruption to the $250 billion TV advertising industry. …

Courthouse News reports: A Los Angeles judge rejected on Wednesday a motion by Starbucks to reduce or invalidate a $50 million jury award leveled at the coffee giant earlier this year over a spilled cup of tea that left a Postmates driver’s penis scalded and permanently disfigured. In 2020, then-25-year-old Garcia was picking up an order of three venti-sized “medicine …

USA Today reports: Just eight years after starting in a Los Angeles parking lot, Dave’s Hot Chicken has been acquired by private equity firm Roark Capital in a deal worth approximately $1 billion to enter its “next phase of growth and innovation.” A spokesperson for Dave’s Hot Chicken confirmed the acquisition to USA TODAY via email on Wednesday, June 4. …

CNBC reports: Macy’s cut its full-year profit guidance on Wednesday even as it beat Wall Street’s quarterly earnings expectations, as the retailer’s CEO said it will hike prices of certain items to offset tariffs. In an interview with CNBC, CEO Tony Spring said about 15 cents to 40 cents per share of the guidance cut is due to tariffs. He …

CBS News reports: President Trump said again Tuesday he’s working to take mortgage giants Fannie Mae and Freddie Mac public, winding down 17 years of federal control over two central parts of the U.S. housing market — a move that was cheered on by Trump ally and noted Wall Street investor Bill Ackman. Ending the conservatorship of Fannie and Freddie …

CNBC reports: European sales of Tesla vehicles plunged in April, as the U.S. electric carmaker continues to face reputational damage regionally and rising competition. Tesla sold 7,261 cars in Europe in April, down 49% year-on-year, according to the European Automobile Manufacturers’ Association (ACEA). That drop came even as overall battery electric car sales rose 34.1% annually in April. Tesla has …

CNBC reports: Set your alarm. Southwest Airlines customers have only one day to go before the company starts charging to check bags for the first time in more than half a century. Starting Wednesday, Southwest will end its blanket “two bags fly free” policy. It was a perk that was sacrosanct among customers and the airlines’ longtime executives alike, setting …

Axios reports: The Treasury told WSJ businesses will need to start rounding up or down to the nearest 5 cents when there’s not enough pennies to use in everyday cash transactions. Cashless transactions will still be priced at exact change. State and local governments should provide guidance to retailers so that sales taxes are properly collected, WSJ reports. This is …

Wired reports: A fire broke out Thursday at a data center in Hillsboro, Oregon, leased by Elon Musk’s X, forcing an extended response from emergency crews, according to multiple sources who spoke to WIRED. The sources required anonymity as they aren’t authorized to speak publicly about the company. Firefighters arrived at the Hillsboro Technology Park, in a suburb west of …

Bloomberg News reports: Walt Disney Co. notified Florida-based employees who are losing temporary legal residency in the US that their jobs would be terminated next month after the Supreme Court ruled Monday that the Trump administration could revoke protections for 350,000 Venezuelans. The company sent an email to employees under Temporary Protected Status on Tuesday stating they had been placed …

CNBC reports: Nike will raise prices on a wide range of footwear, apparel and equipment as soon as this week as the retail industry braces for tariffs to hit its profits, CNBC has learned. Prices for Nike apparel and equipment for adults will increase between $2 and $10, a person familiar with the matter said. Footwear priced between $100 and …

CNBC reports: Subaru of America is hiking prices on several models, the company said on Monday, the latest automaker to pass along cost increases to consumers as their expenses rise from the Trump administration’s tariffs. Subaru said in a statement that the increases were made in response to “current market conditions,” without citing tariffs or specific price actions. The Subaru …