McDonald’s will be extending its fan-favorite $5 Meal Deal at most of its US locations through the end of the year as cash-strapped customers continue to grapple with inflation.Franchisees were given the option to vote on whether to extend the value meal and about 80% of US markets voted to keep it through the end of December, according to CNBC. Not all of the votes have been completed, so more locations may opt to extend the deal during the next few weeks, the outlet said. 3 McDonald’s will be extending ...

A Google executive boasted to co-workers  the goal for the company’s budding online advertising business in 2009 was to “crush” rivals in the digital ad market, according to evidence presented Wednesday at the blockbuster federal antitrust trial targeting against the tech titan.The Justice Department highlighted remarks made by David Rosenblatt, Google’s former president of display advertising, during the third day of the non-jury trial that alleges Google abused its control of digital market technology to ...

The maker of John Deere tractors has agreed to pay a $10 million penalty to the US government to settle charges that it lavished Thailand government officials with extravagant trips and visits to massage parlors — bribes that netted its subsidiary more than $4 million in profit. Deere & Co. came to an agreement on Tuesday with the Securities and Exchange Commission, which charged the company with violating the US Foreign Corrupt Practices Act. The Moline, Ill.-based company did not admit to any wrongdoing n ...

Core Insights - News Corp considered moving away from Google's advertising products in 2017 but estimated a loss of at least $9 million in revenue if they did so [1][4] - Google's dominance in the digital advertising market has led to a situation where it is essentially the only service used by publishers for ad deals, despite complaints about its tools being "clunky and slow" [2][5] - The Justice Department's antitrust case against Google highlights its control over ad tools and the significant revenue it siphons from the market, estimated at up to 35 cents of every dollar [6] Revenue and Market Share - In 2016, News Corp generated $83.3 million in ad revenue through digital ad tech tools, with $18.4 million coming from advertisers on Google's platform [3] - By the end of 2022, 70% to 80% of News Corp's ad deals were conducted through Google's tools, indicating a heavy reliance on Google's advertising ecosystem [4] Legal Proceedings - The Justice Department is pursuing a breakup of Google's ad tech business, including the divestment of its Ad Manager tool, as part of its antitrust case [7][8] - The trial is expected to last about four weeks, with US District Judge Leonie Brinkema overseeing the proceedings [8]

Nearly two-thirds of US shoppers said that stubborn inflation will prevent them from buying a new phone this year, according to a survey released Tuesday — putting a possible damper on Apple sales of its latest iPhone.The survey by WalletHub also found that nine in 10 who were polled said they think iPhones are overpriced.“When day-to-day living costs are already high, it’s hard for many people to justify an expensive phone upgrade,” WalletHub analyst Chip Lupo said in a statement. “Apple and other phone co ...

Starbucks’ new CEO Brian Niccol said he would focus on reinvigorating coffeehouse culture at the chain’s stores in the US as he takes the helm in the midst of patchy demand for its pricey lattes.Starbucks named Niccol as its CEO in a surprise move last month, replacing Laxman Narasimhan after the company’s comparable sales fell for the second straight quarter this year.In his first week at the job, Niccol said in an open letter he would initially focus on US stores delivering drinks and food on time and ele ...

JPMorgan Chase is focused on succession planning and has a cadre of “extremely” qualified people who are prepared to run the bank eventually, CEO Jamie Dimon said Tuesday.Dimon and his team spend a lot of time thinking about what happens after he retires, Dimon said, without giving a timeframe.“We all want to get that exactly right,” he told pension funds and institutional investors at a conference in New York.JPMorgan CEO Jamie Dimon said he and his team spend a lot of time thinking about what happens afte ...

Goldman Sachs shares dropped 4% after CEO David Solomon warned the Wall Street giant is facing a $400 million hit from the exit of a credit card venture as well as recent weakness in trading revenue.The Wall Street giant’s stock fell by just over $19 to $470 after Solomon told an industry conference in New York late Monday that the October quarter’s financial results will be hit by its exit from its consumer banking venture that began in 2022, including a joint credit card scheme with General Motors.But the ...

Google lost its bid to escape a $2.7 billion fine imposed by European Union regulators for illegally stifling rival online shopping services on Tuesday — the latest in a slew of legal setbacks for the tech giant.The European Commission initially imposed the fine in 2017 after determining that Google had violated the law by giving its own “comparison shopping service” priority placement in its search engine results while demoting links to smaller rivals in the region.The EU’s Court of Justice in Luxembourg d ...

Apple must pay $14.4 billion in back taxes to the Irish government after the European Union’s top court rejected the iPhone maker’s appeal of a landmark 2016 ruling — which CEO Tim Cook denounced at the time as “total political crap.”The European Court of Justice in Luxembourg on Tuesday upheld the decision by the European Commission that Ireland broke state-aid law by giving Apple an unfair advantage.“We are disappointed with today’s decision as previously the general court reviewed the facts and categoric ...