Apple will change how users choose browser options in the European Union, add a dedicated section for changing default apps, and make more apps deletable, the company said on Thursday.The iPhone maker came under pressure from regulators to make changes after the EU’s sweeping Digital Markets Act took effect on March 7, forcing big tech companies to offer mobile users the ability to select from a list of available web browsers on a “choice screen.”The new rules require mobile software makers to show the choi ...

Walmart said Thursday it has partnered with Restaurant Brands’ Burger King to offer discounted meal benefits to its membership customers as the retail giant looks to make its services more attractive to compete better with Amazon’s Prime.Walmart’s members can avail discounts at Burger King, including 25% off on any digital order every day, the company said. Additionally, starting September, its members can receive a free Whopper burger every three months with any purchase at Burger King.The Walmart Plus mem ...

Core Viewpoint - Brown-Forman Corp., the maker of Jack Daniel's whisky, is retracting its diversity, equity, and inclusion (DEI) initiatives due to social media pressure and the threat of a boycott led by activist Robby Starbuck [1][2][3]. Group 1: Company Actions - Brown-Forman will cease linking bonuses and pay to DEI progress, end participation in LGBTQ-friendly workplace rankings, and abandon plans for a more diverse supplier base [3]. - Previously, 10% of executives' short-term compensation was tied to DEI goals, as noted in the 2023 annual report [3]. - The company initiated its DEI goals in 2019 but has now decided to adjust its approach in response to changing business and legal environments [4]. Group 2: Market Reaction - Following the announcement, Brown-Forman shares experienced a slight dip of less than 1% [4]. Group 3: Industry Trends - Major firms, particularly those with a strong customer base in conservative regions, are increasingly retracting DEI policies under pressure from activists [2][6]. - The shift in corporate policies reflects a broader trend where companies are responding to consumer sentiment, with only 38% of Americans supporting corporate stances on current events [7]. - Companies like Tesla, Home Depot, Wayfair, and Walmart have also been phasing out DEI leadership goals due to consumer backlash [6]. Group 4: Public Perception - There is a growing perception that DEI initiatives may lead to unfairness in hiring and promotions, with some employees feeling overlooked based on ethnicity or sexuality [10][11]. - The backlash against DEI policies is illustrated by the experiences of companies like Target and Bud Light, which faced significant financial losses following their social justice initiatives [9][10].

Shein is suing fast-fashion rival Temu over claims the e-tailer stole confidential information to copy its designs – the same allegations Shein itself has been hit with in the past.The lawsuit claimed Temu – which is owned by Chinese e-commerce giant PDD Holdings – has been “masquerading” as a legitimate marketplace while pushing sellers to steal designs and then continuing to sell those stolen designs after they’ve admitted to infringement.The suit – filed in Washington, D.C. federal court on Monday – is j ...

Target’s earnings and revenue beat Wall Street’s forecasts in the latest sign that shoppers are flocking to discount chains as inflation has left prices stubbornly high.The “cheap chic” retailer raised its full-year profit forecast on Wednesday and reported its first increase in quarterly comparable sales in over a year, driven by price cuts that attracted more shoppers to its stores.Shares of the Minneapolis-based retailer rose 11% in pre-market trading, after the chain said it expects 2024 profit in the r ...

Core Insights - Lowe's has reduced its annual profit and sales forecasts, reflecting concerns similar to those expressed by Home Depot regarding the low likelihood of a recovery in home improvement demand this year [1] - The Federal Reserve's high interest rates, due to insufficient evidence of easing inflation, are negatively impacting home sales and demand for renovation projects [1] - Lowe's anticipates a 3.5% to 4% decline in comparable sales for the full year and adjusted earnings per share of approximately $11.70 to $11.90, down from a previous forecast of $12.00 to $12.30 [1] Sales Performance - Home Depot also projected a decline in annual profit and a larger drop in annual comparable sales [2] - Unseasonably warm weather has negatively affected sales during the typically strong spring season, leading consumers to delay expensive lawn and garden projects [2] - Lowe's experienced a 5.1% drop in second-quarter comparable sales, which was worse than analysts' expectations of a 4.11% decline [2] Market Strategy - Both Lowe's and Home Depot are focusing on engaging more professional contractors and property managers due to weak demand from individual customers for services like plumbing and roofing [4] - Lowe's has managed gross margin and cost control better than anticipated, although lower sales in the second half of the year may pose challenges [4]

Boeing is being forced to ground its entire test fleet of 777X jetliners after a test flight on Friday revealed damage to a key engine part.The test flight for the 777X — Boeing’s latest and most state-of-the-art commercial aircraft — is just the latest safety fail to dog the planemaker, which has endured years of increased regulatory scrutiny and reputation damage following a series of mishaps and crashes.During test flights in Hawaii on Friday, a 777X plane landed with damage to an important part that con ...

Core Viewpoint - Edgar Bronfman Jr. has submitted a $4.3 billion bid to acquire Paramount Global through National Amusements, challenging a previous agreement with Skydance Media [1][2]. Group 1: Bid Details - Bronfman's offer includes $2.4 billion in debt and equity for National Amusements and an additional $1.5 billion to strengthen Paramount's balance sheet [2]. - The bid also incorporates a $400 million breakup fee to terminate the existing deal with Skydance [2]. Group 2: Competitive Landscape - Skydance Media had previously reached an agreement to acquire Paramount, valuing the company at $4.75 billion in an all-stock transaction [3]. - Paramount's board is expected to evaluate Bronfman's offer and may extend the "go-shop period" until September 5 to consider competing bids [5]. Group 3: Background on Edgar Bronfman Jr. - Bronfman has a history in the media industry, having previously acquired MCA and Warner Music Group, and attempted to acquire Time Inc. [7]. - His experience and past ventures indicate a strong understanding of the media landscape, which may influence the outcome of the current bid [6][7].

Core Viewpoint - Kroger is suing the Federal Trade Commission (FTC) to block its in-house review of the proposed $25 billion merger with Albertsons, claiming the tribunal is unconstitutional and that the matter should be resolved in federal court [1][2]. Group 1: Legal Proceedings - The lawsuit was filed in Cincinnati, coinciding with a scheduled trial where the FTC seeks to temporarily block the merger while its in-house judges review the deal [1]. - Kroger argues that the in-house review process could take years, which would delay the merger [2]. - Kroger's Chairman stated the company is prepared to defend the merger in federal court, asserting that this is the appropriate venue for the case [2]. Group 2: FTC's Position - The FTC has previously indicated that the merger could lead to increased prices for millions of Americans and negatively impact the labor market for unionized grocery store workers [1]. - A spokesperson for the FTC declined to comment on the ongoing lawsuit [4].

General Motors said Monday it is laying off more than 1,000 salaried employees at its software and service units worldwide.GM, confirming the layoffs initially reported by CNBC, said in a statement that “as we build GM’s future, we must simplify for speed and excellence, make bold choices, and prioritize the investments that will have the greatest impact.”CNBC said the job cuts include roughly 600 jobs at GM’s tech campus near Detroit. GM, which said about half of the cuts are in the United States, said the ...