Tag Archives: business

Courthouse News reports: A Los Angeles judge rejected on Wednesday a motion by Starbucks to reduce or invalidate a $50 million jury award leveled at the coffee giant earlier this year over a spilled cup of tea that left a Postmates driver’s penis scalded and permanently disfigured. In 2020, then-25-year-old Garcia was picking up an order of three venti-sized “medicine …

The Washington Post reports: Skype users bade farewell to the online communication service Monday, reminiscing about late-night calls with friends, long-distance dates and free catch-ups with far-flung family — along with pixelated faces and “Can you hear me?” moments. Microsoft, its owner, has shuttered the service to focus on its alternative calling service, Teams. The decision to scrap Skype, announced …

Courthouse News reports: The Federal Trade Commission (FTC) filed a lawsuit on Monday against Uber, accusing the ride-share giant of enrolling users in its Uber One subscription service without consent, failing to honor promised savings and creating a labyrinthine cancellation process in violation of federal consumer protection laws. In the complaint, filed in the U.S. District Court for the Northern …

Columbus’s NBC affiliate reports: Microsoft has confirmed that it is backing down on building data centers in Licking County. In a statement released Monday, the company did not give a reason for stopping the projects, only to say the decision was made “after careful consideration.” “After careful consideration, we will not be moving forward at this time with our plans …

Via press release from Hooters: In conjunction with the proposed sale of the Company-owned locations, and with the widespread support of key stakeholders in its capital structure (who will exchange certain of their debt for equity in the Company), the Company filed voluntary petitions for chapter 11 cases in the United States Bankruptcy Court for the Northern District of Texas. …

Axios reports: If you’re a foreign leader or a CEO about to meet with President Trump — or if you want to avoid his vengeance — come bearing gifts. Government officials and business leaders around the world have gotten the message and are strategizing about how to give Trump real or perceived wins to try to smooth out any relationship …

CNBC reports: Fast-fashion retailer Forever 21′s U.S. operating company on Sunday filed for Chapter 11 bankruptcy for the second time in six years, hamstrung by dwindling mall traffic and mounting competition from online retailers. The move likely means liquidation for the company, which was unable to find a buyer for its roughly 350 U.S. stores. Its trademark and intellectual property …

NBC News reports: A California delivery driver was awarded $50 million in damages after a jury agreed a Starbucks location was negligent in its handling of a scalding hot tea. Michael Garcia sued the cafe chain after a tea spilled in his lap at a drive-thru and caused permanent disfigurement to his penis. His attorney Nick Rowley said in a …

The CBC reports: Hudson’s Bay Company is nearly a billion dollars in debt, according to court filings that paint a dire portrait of the struggling Canadian department store chain’s finances. The documents were submitted as part of its creditor protection filing last week. The company owes a total of $950 million to nearly 2,000 secured and unsecured creditors. Some experts …

CBS News reports: Kroger CEO Rodney McMullen is resigning following a probe into his personal conduct, the grocery chain said Monday. McMullen, who was both the chairman and CEO, is out after a company board investigation found that his personal conduct, “was inconsistent with Kroger’s Policy on Business Ethics,” the company said on Monday. His behavior was unrelated to business, …

CBS News reports: Coffee giant Starbucks is shaking up its drinks menu, removing 13 “less popular” beverages from the list of offerings to help streamline operations and move customers through stores more quickly, according to the company. The move comes as the company also plans to cut 1,100 workers as part of a turnaround plan CEO Brian Niccol hopes will …

NBC News reports: Fabrics outlet Joann will shutter all of its approximately 800 locations after failing to find a buyer who would keep its stores open. In a statement, the company said it would commence nationwide going-out-of-business sales as a stipulation of the group that won its assets at auction. Joann listed some 19,000 employees, most of them part-time, when …

Axios reports: Apple on Monday morning announced plans to invest more than $500 billion in the U.S. and hire 20,000 people over the next four years, with expansion and construction planned from coast to coast. The new jobs will focus on research and development, silicon engineering, software development, and AI and machine learning. Apple plans to greatly expand chip and …

Investing.com reports: Tesla Inc. is issuing a recall for 376,241 vehicles, according to a notice filed with the National Highway Traffic Safety Administration. The recall involves certain 2023 Model 3 and Model Y vehicles that are operating on software versions prior to 2023. The issue lies with the printed circuit board for the electronic power steering assist. This component may …

ABC News reports: Joann, the fabrics and crafts retailer, is shutting down hundreds of its stores nationwide as part of its bankruptcy proceedings. The company filed a motion in court on Wednesday seeking approval to begin closing approximately 500 locations. In a statement to ABC News, the company’s spokesperson said the move is “part of the ongoing Chapter 11 process …

CBS News reports: Tesla’s fourth-quarter net income fell 71% from a year ago when results were boosted by a one-time tax benefit. The latest results fell short of Wall Street forecasts. The electric vehicle company run by Elon Musk said Wednesday that it made $2.31 billion from October through December, less than the $7.93 billion profit it posted in the …

The Wall Street Journal reports: CVS Health today unveiled a revamped app that aims to shorten long pharmacy lines, deliver more transparency on prescription costs and ultimately make visits to the retail pharmacy chain quicker and less painful. The new features include a bar code that lets pharmacists quickly look up a prescription and receive a payment, a way for …

CNET reports: A new broadband law is going into effect this week in New York state requiring internet provider to offer low-income residents access to monthly broadband rates of $15 for 25Mbps or $20 for 200Mbps. As a response, AT&T has decided that it no longer plans to offer its 5G home internet in the Empire State and will begin …

The Washington Post reports: As Donald Trump prepares to return to the White House, Amazon has cut commitments to protecting the rights of Black and LGBTQ+ people from a public listing of its corporate policies. Statements that said Amazon supported the rights of transgender people and would protect the safety of Black employees and customers disappeared from a webpage stating …

CBS News reports: Macy’s is closing 66 store locations that it has said are underperforming. The closures are part of the storied retailer’s turnaround strategy. The company referred to the brick-and-mortar stores it’s shuttering as “non-go-forward” locations. They include outposts in Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Louisiana, Massachusetts, Maryland, Michigan, Minnesota, Missouri, New Jersey, New York, Ohio, Oregon, …