Google’s Chrome browser would be worth $20 billion on the open market if the Justice Department succeeds in convincing a federal judge to order divestment, according to a report.The DOJ will recommend in a Wednesday filing that US District Judge Amit Mehta order Chrome to be sold as part of a suite of changes aimed at ending Google’s monopoly power, Bloomberg reported, citing sources familiar with the matter.If Chrome does hit the market, the browser would be worth “at least $15-20 billion, given it has ove ...

Walmart reported earnings and revenue that beat expectations as shoppers slammed by sticky inflation flocked to the discount chain to start their holiday shopping. In the three months ended Oct. 31, Walmart reported adjusted earnings per share of 58 cents, above expectations of 53 cents. The company posted revenue of $169.6 billion, above expectations of $167.7 billion and up from $160.8 billion in the year-ago period. The company said it now expects net sales will grow between 4.8% and 5.1% this year on in ...

Boeing will lay off more than 200 workers based in South Carolina as part of a massive cost-cutting drive that will slash 17,000 employees — or 10% of its workforce.The aerospace giant last week notified 220 employees who assemble the 787 Dreamliner aircraft at a Charleston-based facility that they would be let go, according to WCBD-TV.On Monday, Boeing said in a notice filed with the Employment Security Department in Washington that it has so far laid off 2,199 workers in that state. 3 Boeing has said it ...

The Justice Department will ask a judge to force Alphabet’s Google to sell off its Chrome browser, Bloomberg reported Monday, citing people familiar with the plans.The DOJ will ask the judge, who ruled in August that Google illegally monopolized the search market, to require measures related to artificial intelligence and its Android smartphone operating system, the report said.Google and the DOJ did not immediately respond to Reuters requests for comment.The Justice Department plans to ask a judge to force ...

Core Viewpoint - The National Highway Traffic Safety Administration (NHTSA) has opened two new investigations into Ford, focusing on potential recalls related to seat belt issues and the adequacy of a previous recall concerning power loss in certain vehicles [1][2][3]. Group 1: Investigations and Recalls - NHTSA is investigating whether Ford should recall 112,000 Ford Expedition SUVs due to seat belt issues, following complaints of inadvertent deployment of the seat belt retractor pretensioner [2]. - The agency is also examining the adequacy of Ford's recall of approximately 456,000 Bronco Sport and Ford Maverick vehicles, which was initiated due to a loss of power linked to the 12-volt battery [3]. - Ford had previously recalled 77,000 Ford Expedition and Lincoln Navigator SUVs for similar seat belt issues earlier in the year [2]. Group 2: Civil Penalties and Compliance - Ford agreed to a $165 million civil penalty after NHTSA found that the company failed to recall vehicles with defective rearview cameras in a timely manner [5][6]. - As part of the settlement, Ford is required to review all recalls filed in the last three years and potentially file new recalls if necessary [6]. - NHTSA criticized Ford for providing inaccurate or incomplete information and failing to submit timely quarterly reports for other recalls [6].

Tesla shares jumped 7.2% on Monday following a report that President-elect Donald Trump plans to speed along the regulatory process on self-driving vehicles. Trump’s transition team is aiming to make a federal framework for fully autonomous vehicles a top priority for the Transportation Department, sources familiar with the matter told Bloomberg.The streamlined regulatory system would greatly benefit Tesla founder Elon Musk, helping Tesla deliver on its longtime promise to release a fleet of fully self-driv ...

Core Viewpoint - Ford Motor has agreed to a $165 million civil penalty due to failure in timely recalling vehicles with defective rearview cameras, marking the second-largest penalty in NHTSA's history [1]. Group 1: Financial Penalty and Compliance - Ford will pay $65 million in cash, invest $45 million in advanced data analytics and a new testing facility, and $55 million will be held in abeyance contingent on compliance with the agreement [1]. - The consent order will last at least three years and requires Ford to conduct a thorough review of all recalls filed in the last three years [1]. Group 2: Investigation Background - The investigation was initiated by NHTSA in August 2021 after Ford recalled 620,246 vehicles in 2020 for rear camera issues to assess the timeliness of the recall [1]. - Ford expanded the recall in 2022 by adding approximately 24,000 vehicles [1]. Group 3: Obligations and Oversight - Ford is required to hold quarterly meetings with NHTSA and develop safety data analytics [2]. - The company must build an imaging test lab focusing on low-voltage electronics and invest in a vehicle identification number-based traceability system [2]. - NHTSA mandates Ford to review and potentially revise its recall decision-making process, including its ability to analyze data for identifying safety-related defects [2].

General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.The workers, mostly white-collar, were notified about the decisions early Friday. The company confirmed the layoffs in a statement but gave few details. 3 GM and other automakers have been navigating an uncertain transition to electric vehicles (above). AFP via Getty Images“We need to optimize for speed and excellence,” the statement said. “This includes operating with ef ...

Core Viewpoint - Elon Musk has expanded his lawsuit against OpenAI, now including Microsoft as a defendant, alleging illegal monopolization of the generative AI market [1][2]. Group 1: Lawsuit Details - The amended lawsuit includes federal antitrust claims and accuses OpenAI and Microsoft of attempting to monopolize the generative AI market while sidelining competitors [1][2]. - Musk's original complaint from August also claimed that OpenAI and its CEO, Sam Altman, prioritized profits over public good in their AI advancements [2]. - The lawsuit seeks to void OpenAI's licensing agreement with Microsoft and demands the divestment of what Musk describes as "ill-gotten" gains [2]. Group 2: Company Responses - OpenAI has responded to the lawsuit, stating that it is "even more baseless and overreaching than the previous ones" [3]. - Musk's long-standing opposition to OpenAI is noted, as he co-founded the startup which has since received significant funding from Microsoft [3][4]. Group 3: Antitrust Allegations - The lawsuit alleges that OpenAI and Microsoft violated antitrust laws by conditioning investment opportunities on agreements not to engage with rival companies [5]. - It claims that the exclusive licensing agreement between OpenAI and Microsoft constitutes a merger that lacks the necessary regulatory approvals [5].

Core Viewpoint - Citigroup is under investigation by US government agencies regarding its connections to sanctioned Russian billionaire Suleiman Abusaidovich Kerimov, particularly focusing on its dealings with Heritage Trust, which manages Kerimov's assets [1][4]. Group 1: Investigation Details - The Department of Justice, the Federal Bureau of Investigation, and the Internal Revenue Service are examining Citigroup's relationship with Heritage Trust [1][4]. - The investigation includes scrutiny of Citigroup's anti-money laundering policies and systems designed to prevent financial crimes [2]. Group 2: Company Response - Citigroup has stated its commitment to conducting business in compliance with all applicable laws and regulations, while actively winding down most of its institutional banking operations in Russia [2]. - The bank is maintaining only those operations necessary to fulfill remaining legal and regulatory obligations as it closes its Russian consumer banking business [2]. Group 3: Background on Sanctions - Suleiman Kerimov has been sanctioned by the US in 2014 and 2018 due to Russia's actions in Syria and Ukraine [2][3]. - In 2022, the US imposed restrictions on Heritage Trust due to its ties to Kerimov [4].