Business

Bloomberg News reports: United Parcel Service Inc. has agreed to end a dual wage system for delivery drivers in its next contract with the International Brotherhood of Teamsters, dramatically lowering the chances of a nationwide strike when the current labor agreement expires at the end of July. The breakthrough came after a marathon day of negations in Washington, where representatives …

The New York Times reports: If you thought that a cage fight between two of the world’s richest men was just a far-fetched social media stunt, think again. Over the past 10 days, Mr. White said he, Mr. Musk and Mr. Zuckerberg — aided by advisers — have negotiated behind the scenes and are inching toward physical combat. The preferred …

USA Today reports: Twitter CEO Elon Musk on Saturday announced “temporary limits” on the number of tweets users are able to read, an announcement that comes amid reports of users having difficulty accessing the site. Verified accounts “are limited to reading 6000 posts/day,” while unverified accounts were limited to 600 per day, Musk’s tweet said. New and unverified counts will …

Courthouse News reports: Pharmaceutical giant Gilead Sciences triumphed over consumers Friday in a closely watched, yearslong class action that claimed the company deliberately manipulated the market in order to profit off of its highly-priced HIV treatment drugs. Closing arguments in a six-week trial wrapped Wednesday, leaving a federal jury to consider weeks of evidence regarding the pharmaceutical giant’s conduct and …

The Associated Press reports: Apple became the first publicly traded company to close a trading day with a $3 trillion market value, marking another milestone for a technology juggernaut that has reshaped society with a line-up of products that churn out eye-popping profits. Apple shares closed up 2.3% at $193.97 Friday, bringing its market value to $3.04 trillion. Apple is …

The Washington Post reports: Fake reviews are ruining the web. But there’s some new hope to fight them. The Federal Trade Commission on Friday proposed new rules to take aim at businesses that buy, sell and manipulate online reviews. If the rules are approved, they’ll carry a big stick: a fine of up to $50,000 for each fake review, for …

The Verge reports: If you currently try to access Twitter without logging in to your user account, you may find you’re unable to see any of the content that was previously available to the wider public. Instead, you’ll likely be met with the Twitter window that asks you to either sign in to the platform or create a new account, …

Mediaite reports: The proposed fight between billionaire rivals Elon Musk and Mark Zuckerberg may take place in Rome’s Colosseum, according to both Musk and a new report. “Some chance fight happens in Colosseum,” Musk tweeted on Thursday. “Need to work on my endurance,” he added in a follow-up post, which included a clip of the Colosseum fight from Monty Python’s …

Reuters reports: Overstock.com intends to sunset its company name and rebrand as Bed Bath & Beyond after purchasing that company’s intellectual property assets in bankruptcy, Overstock CEO Jonathan Johnson said on Thursday. Overstock, which chose not to bid on any of Bed Bath & Beyond’s retail locations or inventory, will remain an online-only home goods retailer, combining Overstock’s strengths with …

The New York Times reports: Federal authorities charged three men on Thursday with taking part in a scheme to make $22 million in illegal profits by trading ahead of the proposed merger of former President Donald J. Trump’s social media company with a cash-rich public shell company in fall 2021. The arrests came after a lengthy investigation by federal prosecutors …

Via press release from the Teamsters: Today, the International Brotherhood of Teamsters walked away from the national bargaining table and officially demanded UPS exchange its last, best, and final offer no later than June 30. The Teamsters gave UPS a one-week notice on Tuesday to act responsibly and exchange a stronger economic proposal for more than 340,000 full- and part-time …

Yahoo News reports: Elon Musk takes “microdoses” of ketamine to manage depression, according to a US media report. The Twitter owner and SpaceX entrepreneur also takes full doses of the substance at parties, according to the Wall Street Journal. Ketamine, an anaesthetic that has some hallucinogenic effects, is a controlled substance in the US and can only be legally administered …

Courthouse News reports: The bill, sponsored by Assemblyman Matt Haney [photo], a Democrat from San Francisco, would allow cannabis retail stores to sell prepackaged food and beverages and permit cannabis businesses with an on-site consumption license to sell food prepared at the location. The bill would also allow on-site consumption license holders to host live music and performances. The bill …

Bloomberg News reports: Starbucks Corp. plans to issue “clearer centralized guidelines” for in-store visual displays and decorations following a union’s allegations that managers banned Pride-themed decor, which the company disputes. “We have heard from our partners that you want to be creative in how our stores are represented and that you see visual creativity in stores as part of who …

Click Orlando reports: The Walt Disney Company has no basis for suing Florida’s governor in federal court over actions taken to reform the special district that governed Disney property, according to a new motion filed in the lawsuit between Gov. DeSantis and Disney. Attorneys for Gov. Ron DeSantis and Meredith Ivey, the secretary for the Florida Department of Economic Opportunity, …

The Washington Post reports: Starbucks workers at more than 150 stores launched a week-long strike, alleging that employees at dozens of U.S. locations were restricted or barred from putting up Pride decorations, a claim the company has denied. Starbucks Workers United said the walkout involving more than 3,000 workers in at least 28 states began Friday at the company’s flagship …

NBC News reports: Bed Bath & Beyond will live on in name only after Overstock.com won an auction for the failed home goods retailer’s intellectual property and digital assets, according to court records filed early Thursday. The e-commerce discounter, which was selected as the stalking horse bidder for Bed Bath’s bankruptcy-run auction, will buy the chain’s brand name, business data …

CNBC reports: The Federal Trade Commission on Wednesday sued Amazon, alleging the nation’s dominant online retailer intentionally duped millions of consumers into signing up for its mainstay Prime program and “sabotaged” their attempts to cancel. The agency claims Amazon violated the FTC Act and the Restore Online Shoppers’ Confidence Act by using so-called dark patterns, or deceptive design tactics meant …

The Daily Beast reports: Billionaire Hamish Harding is reportedly one of the five people on board the missing submarine that was meant to take tourists down to see the Titanic’s shipwreck. Harding’s stepson, Brian Szasz, confirmed the news with posts asking for “thoughts and prayers” on social media. Harding, the chairman of global sales company Action Aviation, was sharing posts …

Axios reports: In a new bid to steady his rattled company, Anheuser-Busch U.S. CEO Brendan Whitworth vowed to protect the jobs of employees and those of independent wholesalers. Axios has learned that Whitworth plans to go on the road around the U.S. this summer to listen to consumers, in connection with Budweiser’s MLB sponsorship. The company’s summer ad campaign, which …