Year: 2023
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Cummins to pay record-setting $1.675 billion US environmental fine
By David Shepardson WASHINGTON (Reuters) -Truck engine maker Cummins Inc has agreed in principle to pay a $1.675 billion fine for installing devices on hundreds of thousands of engines to allow them to emit excess pollution, the largest-ever civil penalty for a Clean Air Act violation, the U.S. Justice Department said on Friday. The Department…
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Nike’s powerhouse labels lose footing against upstart brands – analysts
By Savyata Mishra and Aishwarya Venugopal (Reuters) – Nike is starting to lose share to upstart sneaker brands such as On and Hoka and will need to invest in fresher styles, analysts said on Friday, after the sportswear giant trimmed its annual sales forecast and sent shares tumbling 11%. The Air Jordan 1 shoe maker…
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Exclusive-US scrutinizing airline frequent flyer programs
By David Shepardson WASHINGTON (Reuters) -The U.S. Transportation Department is scrutinizing the frequent flyer programs of major U.S. airlines for potential deceptive or unfair practices, the agency said Thursday as regulators step up oversight of the airline industry. The department has been meeting in recent weeks with passenger airlines to discuss the popular loyalty programs,…
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Warner Bros Discovery, Paramount will be ‘worse off’ together – analysts
By Samrhitha A and Aditya Soni (Reuters) – Warner Bros Discovery and Paramount Global are likely to be “worse off” together as a merger will leave them billions deeper in debt and saddled with dying traditional television assets, Wall Street analysts said on Thursday. Shares of both companies extended losses after dropping sharply a day…
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Pornhub owner pays $1.8 million to resolve US probe of sex trafficking ties
By Luc Cohen NEW YORK (Reuters) -The company that owns and operates adult entertainment websites including Pornhub.com will pay $1.8 million to the U.S. government to resolve a probe into its ties to an alleged sex trafficking operation, federal prosecutors said on Thursday. Under a deferred prosecution agreement, the U.S. Attorney’s office in Brooklyn charged…
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Microsoft ending support for Windows 10 could send 240 million PCs to landfills – report
By Akash Sriram (Reuters) – Microsoft Corp’s plan to end support for Windows 10 operating system could result in about 240 million personal computers (PCs) being disposed, potentially adding to landfill waste, Canalys Research said. The electronic waste from these PCs could weigh an estimated 480 million kilograms, equivalent to 320,000 cars. While many PCs…
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Oil prices slip as Angola decides to exit OPEC
By Nicole Jao NEW YORK (Reuters) – Oil prices settled lower on Thursday after Angola said it would exit the Organization of the Petroleum Exporting Countries (OPEC), raising questions about the producer group’s efforts to support prices by limiting global supplies. Brent crude futures settled down 31 cents at $79.39 a barrel. U.S. West Texas…
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GM, Ford vehicles to lose US EV tax credits Jan. 1
By David Shepardson WASHINGTON (Reuters) -General Motors said Thursday it expects its Cadillac Lyriq and Chevrolet Blazer EV will temporarily lose eligibility for a U.S. electric vehicle tax credit starting Jan. 1. GM said on Jan. 1 only its Chevrolet Bolt EV will be eligible for the consumer EV tax credit. Ford Motor said its…
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Buzzfeed, Semafor sued by Ozy Media over alleged trade secret theft
By Luc Cohen NEW YORK (Reuters) – Ozy Media has sued digital media company Buzzfeed, startup news outlet Semafor and its founder Ben Smith for allegedly stealing trade secrets from the now-shuttered U.S. media and entertainment company, court records filed on Thursday showed. Ozy and its CEO Carlos Watson were themselves criminally charged earlier this…
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California sues Kroger unit for rejecting job seekers with criminal records
By Daniel Wiessner (Reuters) – California filed a lawsuit against Kroger Co subsidiary Ralph’s Grocery Co on Thursday, accusing it of violating state law by screening out hundreds of job applicants based on their criminal history. The lawsuit, filed in state court by the California Civil Rights Department (CRD), accuses Ralph’s of flouting a 2018…