Business

Elon Musk Calls Cave Rescue Hero “Pedo Guy” For Telling Him To “Stick Your Submarine Where It Hurts”

The Independent reports: Elon Musk has called a British diver who helped rescue schoolboys from a flooded cave in Thailand ‘pedo guy’ on Twitter. The entrepreneur’s outburst came after diver Vern Unsworth told Mr Musk to “stick his submarine where it hurts” after describing his offer to help with a miniature submersible as a “PR stunt”. Mr Musk travelled to …

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Chinese Tariffs May Double Price Of MAGA Hats

ABC News reports: The latest round of tariffs on products from China proposed by President Donald Trump could double the price of “Make America Great Again” hats inspired by his 2016 campaign slogan, according to a merchandiser who imports them. The new tariffs announced Thursday would hit $200 billion worth of Chinese imports, especially consumer goods, including the popular hats …

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Hudson’s Bay Drops Ivanka Trump’s Fashion Line

Global News reports: Hudson’s Bay Company (HBC) pulled all items from the Ivanka Trump fashion line from their website overnight and said they will be “phasing” out the brand, both online and in-store, through the fall. In an email to Global News, HBC sent the following statement: “Hudson’s Bay is phasing out this brand through the fall based on its …

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Papa John’s Yanks Founder’s Face From Their Ads

ABC News reports: Papa John’s, which has featured founder John Schnatter in logos and TV ads, is pulling his image from its marketing after reports he used a racial slur. His face was off at least some materials by late morning Friday, though the company said the details and exact timing for everything were still being worked out. Schnatter has …

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DOJ Appeals Merger Of AT&T And Time Warner

CNBC reports: The Justice Department will appeal the AT&T-Time Warner merger approval, according to a court document filed Thursday. Shares of AT&T slipped more than 1 percent in after-hours trading Thursday. AT&T General Counsel David McAtee said the company was surprised by the appeal. “The Court’s decision could hardly have been more thorough, fact-based, and well-reasoned. While the losing party …

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Papa John’s Chairman Resigns After N-Word Backlash

NPR reports: The founder of the Papa John’s pizza chain has stepped down as chairman of the board after he apologized for using a racial slur against African Americans during a conference call in May. John Schnatter’s resignation comes months after he had already quit as CEO in the wake of controversial remarks concerning the National Football League’s handling of …

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Papa John’s Chair Drops N-Word In Conference Call

The New York Post reports: Papa John’s can’t get out of its own way. Its stock was down more than 4 percent on Wednesday following a report that founder and chairman John Schnatter allegedly made racist comments during a May conference call in which he was receiving public relations training from an outside marketing firm. The controversial restaurateur — who …

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Russian Mining Company Places Trump’s Seal Of Approval On Asbestos Pallets: Donald Is On Our Side!

The Guardian reports: Donald Trump’s environmental policies may have caused controversy in the US but the president’s stance has managed to get him a literal stamp of approval from a Russian mining company. Uralasbest, one of the world’s largest producers and sellers of asbestos, has taken to adorning pallets of its product with a seal of Trump’s face, along with …

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STUDY: San Francisco Rents Now World’s Highest

NBC News reports: Let’s face it, San Francisco is expensive. To make matters worse, a new study has now ranked the city No. 1 in the world with the highest rent and the list also includes three more Bay Area cities in the top ten: San Jose, Oakland and Berkeley. According to a study released by financial advice site Walletwyse, …

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Federal Appeals Court Upholds Volkswagen’s $10 Billion “Dieselgate” Settlement, Nissan Admits Falsifying Data

Reuters reports: A federal appeals court on Monday upheld Volkswagen’s $10.03 billion settlement with the owners of nearly 500,000 polluting diesel vehicles announced in 2016. The three-judge panel of the U.S. 9th Circuit Court of Appeals said, in dismissing a number of objections to the settlement, that it “delivered tangible, substantial benefits to class members, seemingly the equivalent of — …

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Mexico Hits Back With New Round Of Retaliatory Tariffs

Politico reports: Mexico on Thursday began imposing its second stage of retaliatory tariffs on dozens of U.S. goods in response to President Donald Trump’s duties on Mexican steel and aluminum exports to the United States. The tariffs complete Mexico’s two-part retaliation on almost $3 billion worth of U.S. products. The Mexican government, which first announced its retaliation list last month, …

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Barnes & Noble Abruptly Fires CEO, Won’t Say Why

MarketWatch reports: Barnes & Noble Inc. has fired Chief Executive Demos Parneros, citing company policy violations. The bookseller said Tuesday that Parneros won’t receive any severance pay and that he is no longer a board member. Barnes & Noble didn’t disclose what rules Parneros may have violated, but said the decision wasn’t tied to any disagreement over financial reporting or …

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Trump Rages: Screw Harley-Davidson, I’m Just Going To Get Other Motorcycle Companies To Move To The US

CNBC reports: President Donald Trump is blasting Harley-Davidson again for announcing it’s shifting some operations overseas in the wake of retaliatory EU tariffs against U.S. duties. Trump said on Tuesday his administration is working with other motorcycle companies to move into the U.S. Harley-Davidson said on June 25 that EU tariffs implemented would increase the average cost per motorcycle by …

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Rite Aid Tries Barry Manilow To Chase Away “Loiterers”

The New York Post reports: He writes the songs that make people run. Some Rite Aid stores in California have taken to blasting Barry Manilow tunes as part of a plan to make loiterers scramble. Employees said that the drugstore chain has been testing the tactic of playing songs by the 75-year-old crooner outside their stores — over and over, …

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European Automakers Brace For Trump’s Tariffs

The Washington Post reports: For as long as Donald Trump has been president, he has been threatening to slap tariffs on foreign carmakers to stop flashy German vehicles from “flooding” American streets. On Friday, he repeated the threat and attached a specific number, tweeting about a 20 percent tariff on all automobile imports from Europe. Car tariffs are shaping up …

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Turkey Hits US With Steep Retaliatory Tariffs

When will all this endless winning ever stop? Turkey on Thursday hit back at the United States with steep tariffs on $1.8 billion of goods for President Trump’s duties on steel and aluminum imports that went into effect in March. The additional retaliatory tariffs range between 5 and 40 percent and are set to start on Thursday. Trump has imposed …

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SCOTUS Rules States Can Collect Sales Tax On Internet Businesses That Have No Local Physical Presence

The New York Times reports: Internet retailers can be required to collect sales taxes in states where they have no physical presence, the Supreme Court ruled on Thursday. Brick-and-mortar businesses have long complained that they are disadvantaged by having to charge sales taxes while many of their online competitors do not. States have said that they are missing out on …

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AMC Theatres Launches $20/Month Subscription

The New York Post reports: AMC Theatres, the world’s largest movie theater chain, has unveiled a $20-a-month subscription service to rival the flagging MoviePass. The theater chain on Wednesday announced a new service to its loyalty program, AMC Stubs, allowing subscribers to see up to three movies a week for a monthly fee of $19.95. That’s more expensive than the …

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Airlines To Trump: Don’t Use Us To Fly Migrant Children

Axios reports: American Airlines and United Airlines have cautioned the Trump administration against using their planes to transport immigrant children separated from their families — repudiating Trump’s controversial “zero tolerance” that had triggered widespread outrage. The airlines’ requests came as Trump said Wednesday he will sign an executive order “in a little while” that would end his administration’s separation of …

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