Business

The New York Daily News reports: Takes one to know one. Imprisoned “Pharma Bro” Martin Shkreli sued three former colleagues Friday over his ouster from the unethical pharmaceutical company he founded, alleging they were “driven by their egos, jealousy, and greed.” The notorious Brooklyn-born troll is serving seven years for securities fraud. His lawsuit describes a Bizarro Shkreli who was …

CNN Money reports: Costco says it’s going to be raising prices on many items — and the company is pointing to U.S. tariffs on China as the reason why. “At the end of the day, prices will go up on things,” Costco chief financial officer Richard Galanti said this week in a call with investors, in response to a question …

Bloomberg reports: The automotive industry is bearing the brunt of trade-war crossfire again as U.S. President Donald Trump threatens to slap tariffs of as much as 25% on goods from Mexico, a key production hub for carmakers from Mazda Motor Corp. to General Motors Co. Mexico is the largest source of U.S. vehicle and auto-parts imports, meaning tariffs would increase …

CNBC reports: China has halted purchases of American soybeans in another move in the escalated trade war with the U.S. Chinese buyers have stopped ordering and don’t expect to resume the purchases due to the disagreement over trade between the world’s two largest economies. U.S. soybean farmers have taken a hard hit from the trade tensions as the value of …

Axios reports: Resolutions pushing ExxonMobil and Chevron to get more aggressive on climate change were soundly defeated at annual shareholder meetings on Wednesday. The meetings were the latest example of growing investor pressure on oil giants over global warming. At Exxon’s meeting, a resolution calling for a new board committee on climate won just 7.4% support. At Chevron’s meeting, roughly …

The New York Times reports: Disney’s chief executive, Bob Iger, said on Wednesday it would be “very difficult” for the company to continue filming in Georgia if the state’s highly restrictive abortion law is carried out. Iger’s comments were the strongest sign yet that Hollywood could pull back from Georgia, which has lured television and film producers with generous tax …

CNET reports: As Samsung continues its figure out its Galaxy Fold problems, a recent patent suggests we might be getting closer to seeing Apple’s version of a foldable device. On Tuesday, the US Patent and Trademark Office issued a patent to Apple for a “foldable cover and display for an electronic device.” There are no specifics on whether this display …

Courthouse News reports: A Wisconsin judge has ordered Anheuser-Busch to stop suggesting in advertising that MillerCoors’ light beers contain corn syrup, wading into a fight between two beer giants that are losing market share to smaller, independent brewers. Corn syrup is used by some brewers during fermentation. During that process, corn syrup is broken down and consumed by yeast so …

Yahoo Finance reports: Two months ago, Amazon.com Inc. halted orders from thousands of suppliers with no explanation. Panic ensued — until the orders quietly resumed weeks later, with Amazon suggesting the pause was part of a campaign to weed out counterfeit products. Suppliers breathed a sigh of relief. Now a larger, more permanent purge is coming that will upend the …

Vox reports: Less than two months after finalizing her divorce from the world’s richest person, MacKenzie Bezos has indicated that she intends to be a far more generous philanthropist than her husband has ever been. MacKenzie Bezos announced in a letter on Tuesday that she had signed the Giving Pledge, a commitment to give half of her $35 billion in …

The San Antonio Express-News reports: The Federal Aviation Administration has launched an investigation into the San Antonio City Council’s decision to remove Chick-fil-A from an airport vendors contract, breathing new life into a controversy that roiled the mayor’s race and potentially putting millions of dollars in federal grants at risk. The FAA told San Antonio officials Friday that it is …

Reuters reports: Walmart Inc said on Thursday that prices for shoppers will go up due to higher tariffs on goods from China as the world’s largest retailer reported its best comparable sales growth for the first quarter in nine years. U.S. President Donald Trump increased tariffs on $200 billion worth of Chinese imports to 25% from 10% last week. The …

The Associated Press reports: Macy’s customers may start to feel the impact of President Donald Trump’s trade war with China. The administration is preparing to extend the 25% tariffs to practically all Chinese imports not already hit with levies including toys, shirts, household goods and sneakers, which furnish Macy’s behemoth stores. Macy’s CEO Jeff Gennette told investors Wednesday the higher …

Bloomberg reports: Trump Tower, once the crown jewel in Donald Trump’s property empire, now ranks as one of the least desirable luxury properties in Manhattan. The 36-year-old building has been turned into a fortress since Trump won the presidency, ringed with concrete barriers and the two main entrances partially blocked off. It hasn’t been substantially updated in years. And Trump’s …

The Verge reports: Walmart will offer free one-day delivery on up to 220,000 items on its online store with orders over $35. Walmart is currently offering the new service in Phoenix and Las Vegas, and will come to Southern California in the coming days. The retailer expects the service to be available to 75 percent of the US by the …

Variety reports: Disney is now the only one with its hands on Hulu’s steering wheel. Disney and Comcast announced a deal under which Disney will assume full operational control of Hulu, effective immediately. Under their pact, Comcast’s NBCUniversal will retain its 33% ownership interest in Hulu but as early as January 2024, Comcast can require Disney to buy NBCUniversal’s interest …

Wyoming Public Radio reports: One of the largest domestic coal companies has voluntarily filed for Chapter 11 bankruptcy. Cloud Peak Energy warned of its financial problems in November of last year. By 2018, Cloud Peak had nearly no cash, were hundreds of millions of dollars in debt, and sold less coal than it had in years. The company points to …

CNBC reports: China will raise tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods. Beijing will increase the tariffs to 25% from 10% on June 1, the Chinese Finance Ministry said Monday. It follows President Donald Trump’s decision to raise duties on $200 billion in Chinese products to 25% from …

The Corpus Christi Times reports: An openly gay freshman member of the Texas House derailed a bill backed by religious conservatives but denounced by opponents as a tool to target the LGBT community for discrimination. “Hopefully, this is the day of discrimination against the LGBT community dies in Texas,” said State Rep. Julie Johnson, D-Carrollton, after using a procedural maneuver …

USA Today reports: Amid a global helium shortage, Party City announced Thursday it will shutter 45 stores in 2019. The New Jersey-based party supplies company did not release a list of affected stores but said the closures will take place throughout the year. Party City said it is working to secure a new helium source and a contract, which is …