Attorneys for Tesla blasted last month's $242.5 million jury verdict that found Elon Musk's electric car company partly to blame for a 2019 deadly crash in Florida, arguing in court papers that the massive judgment should be tossed. "The $243 million judgment against Tesla flies in the face of basic Florida tort law, the Due Process Clause, and common sense," Tesla lawyers wrote in a motion filed in a Miami federal court on Friday.The attorneys argued that if the verdict is allowed to stand, "it will chill ...

The CEO of McDonald's says restaurants that rely on tips are letting diners pick up the bill when it comes to paying their employees. Speaking on CNBC Tuesday morning, McDonald's CEO Chris Kempczinski was asked how the fast-food chain would be affected by the "no tax on tips" provision of the Big Beautiful Bill, which President Donald Trump signed into law in July.Proponents of the change say that it will lower taxes for a variety of employees, including restaurant servers. At McDonald's, workers don't ta ...

Klarna employees, including engineers and people in marketing, are being told their jobs are no longer needed and reassigned to customer support, after its CEO acknowledged that earlier AI-driven cost-cutting went too far. Founded in 2005, the buy-now, pay-later firm plans to IPO soon, seeking to raise up to $1.27 billion, according to an SEC filing on Tuesday. As Klarna prepares to go public, the firm has recently been informing staff that their roles are no longer required, redirecting them into customer ...

Tesla investors have some proposals for the company, but at least 11 of those won't be discussed at the coming shareholder meeting in November. Business Insider reviewed a dozen shareholder proposals submitted ahead of the July 31 deadline that some shareholders would like to discuss with Tesla's board.The 12 proposals come from both state-managed and private funds and ask Tesla to commit to a range of sustainability and accountability measures. Tesla's November 6 meeting is the company's first since the ...

Elon Musk's nightmare across most of Europe is showing no sign of ending, but in EV-mad Norway, Tesla is thriving. The Scandinavian nation is one of the first countries to have almost completely transitioned to electric vehicles, with battery-powered vehicles making up 97% of Norway's new car sales in August.Tesla is reaping the rewards of Norway's EV obsession. The US automaker is the top-selling car brand of any kind in the country this year, and saw its sales surge nearly 22% year-over-year in August, a ...

Group 1 - The company has dismissed its chief executive, Laurent Freixe, for failing to disclose a romantic relationship with a direct subordinate, violating corporate policy [1] - Philipp Navratil, the former chief executive of Nestlé Nespresso, will succeed Freixe [1] - Freixe had been with the company for four decades and was appointed 14 months ago to revive growth after a period of sluggish performance under his predecessor, Mark Schneider [1]

BYD's "gravy train" might be grinding to a halt. The Chinese EV giant's share price slumped as much as 8% on Monday, as investors digested disappointing earnings released last week.On Friday, BYD reported that net profits in the second quarter had fallen 30% from a year earlier, as the Tesla rival grappled with fierce competition in China's congested EV market. BYD has also found itself in the crosshairs of China's regulators, which have cracked down on practices of heavy discounting and delayed supplier ...

Tech giant Alibaba has been fighting a bruising food delivery war in China. But the company's latest earnings make it clear that artificial intelligence is what investors really care about. On Friday, Alibaba reported a 2% rise in overall revenue to 247.65 billion Chinese yuan, or $34.6 billion, for the quarter ended June 30 — missing analysts' forecasts of $252.92 billion yuan in revenue. Operating profit dropped 3% to 35 billion yuan.Despite that drag, investors piled in. Alibaba's New York-listed share ...

Core Points - Meta is implementing temporary changes to its AI chatbot to ensure safe and age-appropriate interactions for teens while developing long-term measures [1][2] - The changes were prompted by a Reuters report revealing that the chatbot was allowed to engage in romantic conversations with children [1][3] - Meta is adding guardrails to prevent discussions on sensitive topics such as self-harm, suicide, and disordered eating, and is limiting teen access to specific AI characters for educational purposes [2][3] Industry Context - The nonprofit digital safety advocacy group Common Sense Media has recommended that the Meta AI chatbot should not be used by anyone under 18 due to safety concerns [8] - A watchdog report indicated that AI tools often mislead teens and promote harmful behaviors, highlighting ongoing scrutiny of Meta regarding child safety [9] - Meta has faced previous scrutiny over the safety of children, with CEO Mark Zuckerberg testifying before lawmakers about the mental health risks associated with social media platforms [9]

Core Viewpoint - Spirit Airlines has filed for Chapter 11 bankruptcy protection again, indicating ongoing financial instability despite previous restructuring efforts [1][2]. Company Actions - The airline's president, Dave Davis, stated that further restructuring is necessary to position Spirit for future success, highlighting the need for additional tools beyond previous debt reduction and equity capital raising [2]. - The Board of Directors has opted for a court-supervised process to implement necessary changes for long-term success, while the airline will continue its operations, allowing customers to book and use tickets and loyalty points [3]. Strategic Focus - Spirit Airlines aims to focus its operations on key markets, adjust its fleet size, and enhance its cost structure during the Chapter 11 proceedings, with an emphasis on pursuing further efficiencies across the business [4]. Market Context - In early August, Spirit warned that it may not survive the year, with its stock falling over 45% in after-hours trading following the announcement of the bankruptcy filing [8].