Tesla launched a fresh bid to secure legal reinstatement of Elon Musk’s controversial $56 billion pay package on Monday – days after the company’s shareholders voted to ratify the record-setting agreement.In January, Delaware Chancery Court Judge Kathaleen McCormick voided Musk’s stock-based compensation plan, which she referred to as an “unfathomable sum.” The package was challenged in a lawsuit filed by Tesla shareholder Richard Tornetta.Tesla’s lawyers argued that the two sides should make their legal ar ...

The US government on Monday sued Adobe, accusing the maker of Photoshop and Acrobat of harming consumers by enrolling them in its most lucrative subscription plans without clearly disclosing important terms.In a complaint filed in the San Jose, Calif., federal court, the Federal Trade Commission said Adobe failed to adequately disclose hefty early termination fees, sometimes reaching hundreds of dollars, when customers sign up for “annual, paid monthly” subscription plans.The government said Adobe hides imp ...

McDonald’s is reportedly planning to end its artificial intelligence-powered automated drive-thru order-taking experiment at more than 100 locations after angry customers reported receiving items they didn’t order.The gaffes including adding nine sweet teas to one customer’s order and giving another customer an ice cream cone topped with bacon.The Chicago-based fast food chain and IBM partnered on the pilot program two years ago at select franchises.But the company recently informed franchisees in a recent ...

Barclays on Friday suspended its sponsorship of all Live Nation music festivals in 2024 after various acts dropped out in protest over the bank’s links to defense companies that work with Israel.The suspension includes upcoming Live Nation festivals across the UK this summer, including Latitude, Download and the Isle of Wight. 3 Barclays’ links to defense companies that work with Israel has prompted various musicians to drop out of festivals. Bloomberg“The protesters’ agenda is to have Barclays debank def ...

Apple is reportedly set to face charges in the European Union for alleged anticompetitive behavior in its App Store — in what would mark the first time EU officials have gone after a Big Tech giant for violating a sweeping digital law.The European Commission, the EU’s antitrust watchdog, has found that Apple is not in compliance with the Digital Markets Act, which took effect in March and is aimed at tech titans designated as the internet’s “gatekeepers,” the Financial Times reported, citing sources familia ...

Alphabet’s Google must face trial on US antitrust enforcers’ claim that the internet search juggernaut illegally dominates the online advertising technology market, a federal judge ruled on Friday.US District Judge Leonie Brinkema in Alexandria, Va., denied Google’s motion during a hearing, according to court records.Google had argued for a win without a trial, saying that antitrust laws do not block companies from refusing to deal with rivals and that regulators had not accurately defined the ad tech marke ...

Tesla will use Thursday’s strong support for Elon Musk’s $56 billion pay package to try to win over a Delaware judge that invalidated his 2018 agreement, the company’s board president said Friday.The long process to reaffirm the largest-ever corporate pay package ended Thursday, when nearly three-quarters of shareholders – excluding Musk and his brother – voted in favor of the deal, overcoming opposition from a number of institutional investors and proxy advisory firms.The support was roughly in line with 2 ...

The Federal Aviation Administration is investigating whether false or incorrect documents were used to verify the authenticity of titanium used in some recently manufactured Boeing jets, the agency said.The New York Times, which first reported the issue on Friday, said the FAA is also investigating the authenticity of titanium used in some Airbus jets.Aircraft manufacturers are facing strong demand for new planes due to a surge in post-pandemic travel. However, supply-chain problems and component shortages ...

Apple on Thursday was hit with a proposed class action accusing the tech giant of paying more than 12,000 female employees in California less than men with comparable jobs, lawyers for the plaintiffs said.The lawsuit filed in state court in San Francisco by two women claims Apple systematically underpays female workers in its engineering, marketing, and AppleCare divisions, according to a release from the lawyers.Apple bases workers’ starting pay on their salaries at previous jobs or on their “pay expectati ...

Tesla shares spiked 3.5% in early trading on Thursday after CEO Elon Musk signaled that shareholders would overwhelmingly approve his controversial $56 billion pay package, as well as his plan to relocate the company’s legal headquarters to Texas.Shareholders can cast and change their votes on the two resolutions up until 4:30 p.m. ET, when the company’s annual meeting kicks off in Texas. Musk shared charts which showed both measures were easily clearing the threshold required for passage, according to prel ...