Business

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 …

CNBC reports: Regeneron Pharmaceuticals on Monday announced it will acquire “substantially all” of 23andMe’s assets for $256 million. The drugmaker participated in a bankruptcy auction for 23andMe, a once high-flying genetic testing company that filed for for Chapter 11 bankruptcy protection in March. Regeneron is buying 23andMe’s Personal Genome Service, Total Health and Research Services business lines, according to a …

CBNC reports: In a regulatory filing out Friday, Elon Musk-led automaker Tesla announced a change to its corporate bylaws that will limit shareholders ability to sue the company if investors believe the company’s board or executives committed any breach of fiduciary duties. The filing says the new bylaw went into effect as of May 15, and that Tesla has adopted “an …

Axios reports: Charter Communications has agreed to buy Cox Communications from Atlanta-based Cox Enterprises for approximately $34.5 billion, the companies announced on Friday. The combined company would become America’s largest cable TV and broadband provider by subscribers, leapfrogging Comcast. The combined company eventually will be called Cox Communications, with Charter CEO Chris Winfrey retaining his title and Cox Enterprises CEO …

CBNC reports: Shares of UnitedHealth Group plunged more than 18% on Thursday following a report that the Justice Department is conducting a criminal investigation into the health-care giant over possible Medicare fraud. The DOJ is focusing on the company’s Medicare Advantage business practices, but the exact nature of the potential criminal allegations is unclear, the Wall Street Journal reported late …

CNN reports: Walmart, the world’s largest retailer, warned that is not immune from President Donald Trump’s tariffs. It plans to raise prices on some items as Trump’s global trade war sends the company’s costs higher. “We will do our best to keep our prices as low as possible but given the magnitude of the tariffs, even at the reduced levels …

USA Today reports: Rite Aid added 68 more locations to its list of closures in a May 9 filing in the U.S. Bankruptcy Court for the District of New Jersey. The company, which currently operates 1,240 stores across 15 states, announced on May 5 it had begun Chapter 11 bankruptcy proceedings and would soon begin a process of selling and …

ABC News reports: A panel of judges on the Court of International Trade today heard arguments in a lawsuit challenging Trump’s sweeping tariffs, as the president’s trade war continues to disrupt the international economy and raise the specter of a recession. The lawsuit was filed last month by a group of small businesses, including a New York liquor distributor, Utah …

The New York Times reports: In March, after a steep decline in Tesla’s share price, Elon Musk told employees, “Hang on to your stock.” The chair of Tesla’s board, Robyn Denholm, has not heeded his advice. Ms. Denholm has made $198 million in the past six months selling Tesla stock that she earned for serving on the board, according to a …

Politico reports: Online food delivery firm DoorDash recently gave $1 million to the super PAC boosting Democrat Andrew Cuomo’s New York City mayoral bid — the single largest donation in the race. It follows the company’s lobbying push last year, when it reported spending nearly $500,000 getting an audience with City Hall officials and lawmakers on a bill to let …

Ars Technica reports: Alex Mashinsky, the disgraced founder of the Celsius Network cryptocurrency bank who deceived hundreds of thousands into losing billions with the catchy slogan “unbank yourself”—was sentenced to 12 years in prison on Thursday. In December, Mashinsky pleaded guilty to securities fraud and commodities fraud. Federal prosecutors slammed him for reaping $48 million in profits while causing billions …

Reuters reports: Google has agreed to pay $1.375 billion in a settlement in principle reached with the state of Texas over allegations the company violated users’ data privacy, Texas Attorney General Ken Paxton said on Friday. The agreement settles two lawsuits that covered three products for allegedly violating Texas consumer protection laws. “In Texas, Big Tech is not above the …

NPR reports: David Steiner will lead the U.S. Postal Service as the next postmaster general, as the federal mail agency faces an uncertain future under the Trump administration. Amber McReynolds, chair of the USPS Board of Governors, announced the board’s appointment at an open session of a board meeting Friday. She said Steiner is set to start in July. Steiner, …

The New York Times reports: A year ago, the world’s biggest automaker was on a tear. American consumers were snapping up Toyota Motor’s hybrids, and a weak yen inflated the value of the company’s earnings. That May, Toyota reported the highest annual profit ever recorded by a Japanese firm. On Thursday, Toyota presented a significantly more somber outlook, projecting that …

The Washington Post reports: President Donald Trump and the U.S. Postal Service’s governing board are expected to name FedEx board member and former Waste Management CEO David Steiner as the nation’s next postmaster general, helping solidify the White House’s control over the historically independent mail service. Steiner replaces Louis DeJoy, whom Trump forced out of the role in March amid …

Reuters reports: Ford Motor is hiking prices on three of its Mexico-produced models effective May 2, becoming one of the first major automakers to adjust sticker prices following U.S. President Donald Trump’s tariffs. Prices on the Mustang Mach-E electric SUV, Maverick pickup and Bronco Sport will increase by as much as $2,000 on some models, according to a notice sent …

The New York Times reports: In a new test for its singularly American brand, the Walt Disney Company said on Wednesday that it had reached an agreement with the Miral Group, an arm of the Abu Dhabi government, to build a theme park resort on the Persian Gulf. The property, the seventh in Disney’s global portfolio, will have a castle …

The Daily Beast reports: Immigration and Customs Enforcement agents raided multiple restaurants in Washington, D.C., on Tuesday, including one owned by the husband of CBS News anchor Norah O’Donnell. Chef Geoff’s, an American eatery founded by O’Donnell’s husband Geoff Tracy, had its Northwest D.C. location near American University raided by nearly a dozen ICE agents on Tuesday morning, according to …

The Washingtonian reports: Immigration and Customs Enforcement agents are targeting DC restaurants today in what is shaping up to be one of the city’s most high-profile examples yet of President Donald Trump’s immigration crackdown. Millie’s in Spring Valley, Pupatella in Dupont Circle, Chef Geoff’s in Northwest, and Chang Chang downtown are among the businesses that immigration officials have visited seeking …

Australia’s NewsCorp outlet reports: A cafe owner has closed his business just six weeks after opening in Sydney’s inner west, blaming “snowflakes” for the failure of his latest venture. Mark Da Costa opened Bueno Eatery in St Peters in March after closing down his Waterloo cafe Hale and Hearty in 2020 after being involved in a series of internet controversies, …