Business

Chevron To Move HQ From California To Texas

The Texas Tribune reports: Chevron Corporation will move its headquarters from San Ramon, California, to Houston before the end of the year, the company said Friday. Chevron is the latest company to leave California for Texas seeking a laxer, more business-friendly regulatory environment. Last month, Elon Musk said he’ll move X and SpaceX to Texas because California Gov. Gavin Newsom …

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Over 100 Venture Capitalists Endorse Kamala Harris

Reuters reports: More than 100 venture capitalists including entrepreneur Mark Cuban threw their support behind U.S. Democratic presidential candidate Kamala Harris on Wednesday, a counterweight to tech billionaires backing Republican rival Donald Trump. Silicon Valley has traditionally been seen as a liberal bastion, but Republicans have won support from prominent industry figures in this election cycle. They were bolstered by …

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Meta To Pay Texas Record $1.4B For Biometric Usage

CNBC reports: Meta agreed to pay a record $1.4 billion to settle a lawsuit by the state of Texas over the Facebook owner’s unauthorized use of biometric data by users, Texas Attorney General Ken Paxton said Tuesday. The suit, filed by Paxton in February 2022, accused Meta of capturing and using the biometric data of millions of Texas residents — …

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Delta To Sue CloudStrike Over $500 Million In Losses

CBS News reports: Delta Air Lines has hired famed attorney David Boies to seek potential damages following days of canceled flights related to a CrowdStrike bug that disabled Microsoft programs, taking down the airline’s internal systems and causing chaos for travelers. Boies’ firm, Boies Schiller Flexner LLP, is evaluating claims against CrowdStrike and Microsoft, CBS News has confirmed. Boies previously …

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Boeing To Pay $940 Million After Boeing Max Crashes

Courthouse News reports: Boeing will plead guilty to one count of conspiracy and the company’s board will pay over $940 million after the crashes of two 737 Max aircraft that killed 346 people, federal prosecutors told a federal judge Wednesday evening. Prosecutors say in the proposed plea agreement filed Wednesday that the Virginia-based aerospace manufacturer will plead guilty to conspiracy …

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Southwest Airlines To End Its Open Seating Policy

CNBC reports: Southwest Airlines is ending open seating and will offer extra legroom seats on its airplanes as mounting pressure on the carrier to increase revenue prompts the biggest changes to its business model in its 53 years of flying. The airline plans to start selling the first flights that will offer extra legroom next year, it said Thursday. The …

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Buttigieg Opens Probe Into Delta’s Flight Cancellations

Axios reports: Delta Air Lines is under federal investigation over how it’s been handling delays and cancellations amid technical issues with its crew scheduling software. Delta’s continuing problems, as its competitors have rebounded from a widespread software outage, are a black eye for the company. Every major U.S. airline except Delta was back to normal operations by Monday morning. Delta …

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Tesla’s Favorability Craters After Musk Backs Trump

Quartz reports: Elon Musk’s endorsement of former President Donald Trump — the man who has promised the U.S. will “drill, baby, drill” for more oil — isn’t endearing his company to potential Tesla buyers. The electric vehicle maker’s favorability among Democrats has dropped to 16% as of July 16, down 20 percentage points from January, Yahoo Finance reports, citing new …

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Zuckerberg Calls Trump “Badass” But Doesn’t Endorse

Bloomberg reports: Mark Zuckerberg said that former President Donald Trump’s immediate reaction after being shot was “badass” and inspiring, and helps explain his appeal to voters. “Seeing Donald Trump get up after getting shot in the face and pump his fist in the air with the American flag is one of the most badass things I’ve ever seen in my …

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Cultists Pressure John Deere Into Ending Pride Support

NBC News reports: John Deere said Wednesday it would cease lending its name to social events like LGBTQ Pride parades — the latest corporation to reassess its stance on hot-button social issues as the culture wars ignite ahead of the presidential election. In a statement posted on its X account, the nearly 200-year-old industrial and farming equipment manufacturer said it …

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Warnings Issued Over Amazon Prime Day Scams

The Associated Press reports:  Prime Day, a two-day discount event for Amazon Prime members, kicks off on Tuesday and runs through Wednesday. The Better Business Bureau reminded consumers to watch out for lookalike websites, too-good-to-be-true social media ads, and unsolicited emails or calls during sales events this month. The Israel-founded cybersecurity company Check Point Software Technologies said more than 1,230 …

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SpaceX Rocket Explodes In “Catastrophic Failure”

CBS News reports: SpaceX launched another batch of Starlink internet satellites from California Thursday, but the engine powering the rocket’s second stage suffered a catastrophic failure, if not an explosion, during an attempt to carry out a final “burn” to raise the low point of the orbit, company founder Elon Musk posted early Friday on X. Musk referred to the …

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Beastie Boys Sue Chili’s For Copyright Infringement

The Associated Press reports: The Beastie Boys are suing the parent company of Chili’s in a case that accuses the chain restaurant of running an advertisement that used the hip-hop trio’s smash hit “Sabotage” without permission. The rap group, in a federal case filed Wednesday in New York, alleged Brinker International created a Chili’s ad that used significant portions of …

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AT&T: Hackers Stole Data Of Nearly All Our Customers

TechCrunch reports: U.S. phone giant AT&T confirmed Friday it will begin notifying millions of consumers about a fresh data breach that allowed cybercriminals to steal the phone records of “nearly all” of its customers, a company spokesperson told TechCrunch. In a statement, AT&T said that the stolen data contains phone numbers of both cellular and landline customers, as well as …

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Redbox To Close All 24,000 DVD Rental Locations

NBC News reports: DVD rental service Redbox is set to shut down after 22 years in business, as streaming continues to dominate the at-home entertainment market. Redbox’s parent company, Chicken Soup for the Soul Entertainment, changed its Chapter 11 bankruptcy case, filed last month, to a Chapter 7 liquidation case on Wednesday. The conversion signifies that the company couldn’t come …

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Target To Stop Accepting Checks: Not Worth The Hassle

NBC News reports: Target will soon stop accepting personal checks as a form of payment at checkout. In a statement to NBC News, the retail giant said it was committed to creating an easy and convenient checkout experience — but that due to “extremely low volumes,” it would no longer take personal checks starting July 15. It said it has …

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DOJ: Boeing To Plead Guilty To Fraud, Pay $234M Fine

CNBC reports: Boeing agreed to plead guilty to a criminal fraud charge tied to the fatal 737 Max crashes, the Justice Department said Sunday, months after U.S. prosecutors said the aerospace giant violated a 2021 settlement that shielded it from prosecution. Under the deal, Boeing agreed to pay a $243.6 million fine. An independent compliance monitor would also be installed …

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Musk Seeks Dismissal Of Suit By Twitter Shareholders

Reuters reports: Elon Musk wants to dismiss a lawsuit by former Twitter shareholders who said he waited too long in early 2022 to reveal his large ownership stake in the social media company, saying “all indications” show his delay was a mistake. In a late Wednesday night filing in Manhattan federal court, Musk called it implausible to believe he wanted …

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Saks Parent Acquires Neiman Marcus In $2.6B Deal

The New York Times reports: In a move that will further consolidate the luxury retail market, the parent company of Saks Fifth Avenue has agreed to acquire Neiman Marcus in a $2.65 billion deal, creating the ultimate high-end department store behemoth. The deal, which had been rumored since Neiman Marcus filed for bankruptcy protection during the pandemic, comes just over …

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Parent of DVD Rental Firm Redbox Files For Bankruptcy

The Associated Press reports: Chicken Soup for the Soul Entertainment, the parent of DVD rental operator Redbox, has filed for Chapter 11 bankruptcy protection. The bankruptcy filing comes after months of a series of financial struggles for the company and piling unpaid bills. Chicken Soup for the Soul has accumulated nearly $1 billion in debt, the Chapter 11 filing submitted …

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