The meteoric rise of the $2 trillion crypto industry is becoming a magnet for seasoned legal minds. Paul Clement, the former solicitor general under the Bush administration and veteran Supreme Court attorney, is joining the board of directors at Coinbase, the U.S.’s largest cryptocurrency exchange, FOX Business has learned.Clement, who’s known as one of the most formidable legal minds in the field, has a career that spans three decades with over 100 cases argued before the Supreme Court. His latest victory ...

Chipotle CEO Brian Niccol announced this week that the company is ensuring portion sizes are generous and consistent across all stores after customers aired frustrations on social media accusing the fast-casual chain of using fewer ingredients in its popular burrito bowls. "There was never a directive to provide less to our customers," Niccol told analysts Wednesday on the company's earnings call. The chief executive added that generous portions has always been a core brand equity of the fast-casual restaur ...

Tesla's second-quarter margin missed analysts' estimates as price cuts and incentives to spur sagging demand continued to hurt the bottom line while the company intensifies its self-driving technology efforts, it said on Tuesday. Tesla recorded automotive gross margin excluding regulatory credits of 14.65% in the second quarter, compared with estimates of 16.29%, according to 20 analysts polled by Visible Alpha.It was the lowest quarterly margin in more than five years, and shares of the electric-vehicle ma ...

United Parcel Service missed Wall Street estimates for second-quarter earnings on Tuesday, hurt by subdued package delivery demand and higher costs from its Teamsters labor contract. Shares of the delivery company, seen as a bellwether for the global economy, were down 8% in premarket trading, while shares of rival FedEx fell about 2%.UPS, FedEx and other home delivery providers have been slashing costs since the end of home-bound consumers' early pandemic e-commerce binge in late 2021. Demand for doorstep ...

Coca-Cola raised its annual organic sales and profit forecasts on Tuesday, signaling consumers are willing to spend more for the beverage giant's higher-priced sodas, energy drinks and juices mainly in international markets. The company's shares rose nearly 1% in premarket trading as the company also posted a surprise increase in quarterly revenue.Coca-Cola has been foraying into newer regions in Asia and Europe to keep its revenue growth intact and launching reformulated versions of its drinks such as Coke ...

If you think you are seeing more Tesla Cybertrucks, you're not alone.  In the first half of the year, the Elon Musk-run electric vehicle (EV) maker has notched 11,558 U.S. sales of its futuristic truck, including 2,803 in the first quarter and 8,755 in the second, according to estimates by Cox Automotive. ELON MUSK SAID TESLA MOVED ROBOTAXI EVENT ‘FOR IMPORTANT DESIGN CHANGE’ The nearly 8,800 Cybertrucks sold in the second quarter topped sales of the Ford F-150 Lightning for that three-month period. The F-1 ...

General Motors and Ford may post lower profit when they report quarterly results this week, as the industry's high-stakes bet on EVs fails to pay off, while a cyberattack on a crucial computer network used by dealerships disrupted sales. GM is expected to report a 7.7% drop in second-quarter net income, while Ford is expected to post a 10% drop in profit, according to data from LSEG. GM is scheduled to report its results on Tuesday and Ford the following day.The cyberattack-induced outage at CDK forced the ...

The leader of aerospace giant Boeing's defense division said Sunday that the company is still fighting through issues that have delayed the construction of two new Air Force One presidential aircraft. Boeing received a $3.9 billion contract in 2018 to build two new 747-8 aircraft for use as Air Force One that would be delivered by December 2024, but the aircraft are delayed until at least 2027 and 2028.Ted Colbert, head of Boeing Defense, Space & Security, said the company is dealing with supply chain, infl ...

Netflix said on Thursday it added more than 8 million subscribers in its second quarter as the streaming service benefited from a password-sharing crackdown and the popularity of such titles as "Bridgerton," "Baby Reindeer" and "The Roast of Tom Brady."  While the subscriber gains topped analyst predictions of 5 million, Netflix issued cautious guidance for the third quarter and said its advertising business would not become a primary driver of revenue growth until at least 2026.Netflix shares reversed init ...

Ford Motor Co. is investing $3 billion to expand production capacity for one of its most popular and profitable vehicles.  The company announced on Thursday that it's adding its third North American assembly plant for its F-Series Super Duty trucks, its heavy-duty line of pickups. The plan will initially add capacity for 100,000 vehicles, Ford said.The plant, located at Oakville Assembly Complex in Ontario, Canada, is an effort by the company to maximize its manufacturing footprint and expand its Ford Pro c ...