Business

CNBC reports: The auditing firm for Trump Media and the auditor’s owner were charged Friday with “massive fraud” by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator announced. The auditor, BF Borgers CPA and its owner Benjamin Borgers have agreed to be permanently suspended from practicing as accountants before the SEC, …

CNN Business reports: Truth Social’s average number of daily active US users on iOS and Android dropped by 19% year over year in April to about 113,000, according to data shared exclusively with CNN from Similarweb, a data intelligence company. The Similarweb data, which captures the first 29 days of April, showed that the average number of users dipped 4% …

Courthouse News reports: A panel of automotive industry experts and advocates on Tuesday sought to dissuade lawmakers from moving forward with a bill that would require new vehicles to be fitted with analog radio receivers, despite growing bipartisan momentum behind the measure. Both the House and Senate are considering versions of the AM Radio for Every Vehicle Act, which would …

NBC News reports: The Supreme Court on Monday turned away tech billionaire and Tesla CEO Elon Musk’s attempt to challenge the terms of an agreement he reached with the Securities and Exchange Commission that required a lawyer to review some of his social media posts. The justices rejected Musk’s appeal of a ruling by the New York-based 2nd U.S. Circuit …

The Associated Press reports: Home products retailer Williams-Sonoma will have to pay almost $3.2 million for violating a Federal Trade Commission “Made in USA” order. Williams-Sonoma was charged with advertising multiple products as being “Made in USA” when they were in fact manufactured in other countries, including China. That violated a 2020 commission order requiring the San Francisco-based company to …

Reuters reports: U.S. auto safety regulators said Friday they have opened an investigation into whether Tesla’s recall of more than 2 million vehicles announced in December to install new Autopilot safeguards is adequate. The National Highway Traffic Safety Administration (NHTSA) said it was opening an investigation after the agency identified concerns due to crash events after vehicles had the recall …

CNN reports: Southwest Airlines announced Thursday it will stop serving four airports after reporting increased losses in the first quarter and more delays in the delivery of promised jets from Boeing. The four airports are Bellingham International Airport in Washington state, Cozumel International Airport in Mexico, Syracuse Hancock International Airport in New York and Houston’s George Bush Intercontinental Airport. Southwest …

NBC News reports: TikTok CEO Shou Chew said Wednesday that the company would go to court to try to remain online in the United States. In a video posted on the app, Chew denounced a potential ban signed into law by President Joe Biden. The law has a built-in delay of nine months, giving TikTok’s Beijing-based parent company, ByteDance, a …

Politico reports: Passengers whose flights are canceled or “significantly” delayed won’t have to fight to get a cash refund from the airline under a new Biden administration rule issued Wednesday. The rule comes after more than a year of promises by the administration to shore up protections for air passengers, who have suffered through a glut of delays, cancellations and …

CBS News reports: Baltimore City is suing the owners and managers of the Dali, the cargo ship that crashed into the Francis Scott Key Bridge on March 26, causing it to collapse and killing six construction workers. The lawsuit claims the owners of the Dali were negligent in letting the ship leave the Port of Baltimore without failing to fix …

The Associated Press reports: Express Inc — once a trendsetter of casual office attire that has struggled to compete with the likes of Zara and H&M — has filed for Chapter 11 bankruptcy protection. The retailer based in Columbus, Ohio also said Monday it is seeking to sell the majority of its stores. In an announcement addressing its bankruptcy filing, …

Reuters reports: Gay dating app Grindr is facing a mass data protection lawsuit in London from hundreds of users who allegedly had their private information, including HIV status, shared with third parties without consent, a law firm said on Monday. Austen Hays, which said the lawsuit is being filed at London’s High Court, said thousands of Grindr users in the …

Politico reports: In this deep blue state where Republicans rarely back Democratic colleagues in the Capitol, one issue is overcoming the partisan divide: line skipping at airports. A pair of Orange County state senators from opposing parties — who frequently fly between their districts and Sacramento — are both boosting a first-in-the-nation proposal critics say would ban the expedited security …

Ars Technica reports: SpaceX is reportedly working with at least one major US defense contractor, Northrop Grumman, on a constellation of spy satellites for the National Reconnaissance Office. According to Reuters, development of the network of hundreds of spy satellites by SpaceX is being coordinated with multiple contractors to avoid putting too much control of a highly sensitive intelligence program …

The New York Times reports: Tesla has agreed to recall nearly 4,000 of its Cybertruck pickups to fix an accelerator pedal that can get stuck, raising the risk of crashes, a federal safety agency said on Friday. The defect could cause the vehicle to accelerate unintentionally, the National Highway Traffic Safety Administration said in a notice posted on its website. …

NBC News reports: The automaker Hyundai said it had paused its advertising on Elon Musk’s social media app, X, after a sponsored post from the company appeared next to antisemitic and pro-Nazi posts. Hyundai confirmed the pause in a statement to NBC News late Wednesday and said it was taking its brand safety concerns to Musk’s company. “We have paused …

Bloomberg News reports: Seafood restaurant chain Red Lobster is mulling a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to people with knowledge of the matter. Red Lobster has been getting advice from law firm King & Spalding, said the people, who asked not to be identified discussing a private matter. The dining chain is considering …

Ars Technica reports: Tesla is asking shareholders to approve a move to Texas and to re-approve a $55.8 billion pay package for CEO Elon Musk that was recently voided by a Delaware judge. Musk’s 2018 pay package was voided in a ruling by Delaware Court of Chancery Judge Kathaleen McCormick, who found that the deal was unfair to shareholders. After …

The Associated Press reports: Hours before leaving port, the massive container ship that caused the deadly collapse of a Baltimore bridge experienced apparent electrical problems, a person with knowledge of the situation told The Associated Press. While the ship was docked in Baltimore, alarms went off on some of its refrigerated containers, indicating an inconsistent power supply, according to the …

Axios reports: The Department of Justice (DOJ) is planning to sue Live Nation, one of the largest ticketing and live events companies in the country, on antitrust grounds, a regulatory source familiar with the DOJ’s plans told Axios. The company faced intense scrutiny from lawmakers and consumer advocacy groups over botched ticket sales for Taylor Swift’s Eras Tour in late …