Business News
Former Twitter executives including CEO Parag Agrawal, Chief Financial Officer Ned Segal, head of legal Vijaya Gadde and General Counsel Sean Edgett filed a new lawsuit against Elon Musk and X Corp. in federal court arguing that they are owed $128 million in unpaid severance. In their complaint, lawyers for the ex-Twitter executives say that after Musk […]
Labor protests in China have increased rapidly since August of last year, according to rights groups, especially in the lead-up to Lunar New Year, which began late last week. Labor protests more than tripled in the fourth quarter of 2023 compared to the same period in 2022, according to data collected by New York-based international […]
WASHINGTON — For the first time in more than two decades, Mexico last year surpassed China as the leading source of goods imported to the United States. The shift reflects the growing tensions between Washington and Beijing as well as U.S. efforts to import from countries that are friendlier and closer to home. Figures released Wednesday […]
Alaska Airlines said Thursday that the weekslong grounding of the Boeing 737 Max 9 will cost the carrier $150 million. The Federal Aviation Administration grounded the planes a day after a door plug blew out during an Alaska flight on Jan. 5. Late Wednesday the agency said it approved inspection instructions that would allow that type of aircraft to return […]
Altice USA is in talks to sell the financial news streaming service Cheddar News to LA-based private equity firm Regent LP, according to people familiar with the matter. No deal is assured and discussions around structure are still fluid, said the people, who asked not to be named because the talks are private. In one iteration […]
The IRS has unveiled a “voluntary disclosure program” for businesses that claimed a pandemic-era tax credit in error and want to pay the money back. Worth thousands per employee, the employee retention tax credit, or ERC, was designed to support small businesses affected by the Covid-19 pandemic. The lucrative tax break sparked a cottage industry of firms pushing employers to […]
Vinyl LP purchases have risen for the 16th consecutive year in the UK in 2023 and are growing at their fastest rate this decade. Following a 2.9% improvement in unit sales last year, the vinyl market in 2023 has, with just a few more days to go to year-end, increased more than four times as […]
TOKYO — Toyota Motor’s Daihatsu unit will halt shipments of all of its vehicles, Japan’s biggest automaker said on Wednesday, after an investigation into a safety scandal found issues at 64 models, including almost two dozen sold under Toyota’s brand. An independent panel has been investigating Daihatsu after it said in April it had rigged side-collision […]
SEOUL — South Korea’s Hyundai Motor plans to sell its plant in Russia for a nominal $77.67, a company official said on Tuesday, making it the latest global automaker to sell Russian assets since the outbreak of the war in Ukraine. Hyundai Motor, in a regulatory filing, said it would take a $219.19 million loss on […]
Panera Bread has confidentially filed to go public again, people familiar with the matter told CNBC. The restaurant chain, known for its soups, sandwiches and bagels, has been signaling for months that it’s looking to go public through an initial public offering. In May, Panera announced a CEO transition and said the leadership changes were “in preparation […]
