Group 1 - Teamsters members at Costco Wholesale voted in favor of a nationwide strike, with 85% supporting the authorization [1][2] - The vote is attributed to the company's failure to engage in constructive bargaining, with the current master agreement set to expire on January 31 [2] - Final negotiations are scheduled to begin on January 20, leading up to the contract deadline [2]

Amazon has temporarily suspended its commercial drone delivery operations in Texas and Arizona after two of its latest MK30 models crashed in rainy weather at a testing facility.The company announced on Friday that it was pausing the program to implement software updates to ensure the safety of its fleet.The crashes, which occurred in December at Amazon’s Pendleton, Ore. testing site, were attributed to a software malfunction caused by light rain. 4 Amazon has temporarily suspended its commercial drone de ...

Starbucks said Friday it plans an unspecified number of layoffs as it restructures its corporate staff.In a letter to employees, Starbucks Chairman and CEO Brian Niccol said the Seattle coffee giant needs to ensure all work has a clear and accountable owner who can make decisions. The company also needs to reduce complexity and silos.“Our size and structure can slow us down, with too many layers, managers of small teams and roles focused primarily on coordinating work,” Niccol wrote.Brian Niccol, the former ...

Core Viewpoint - BlackRock and the state of Tennessee have reached a settlement regarding a lawsuit that claimed the firm downplayed the influence of environmental, social, and governance (ESG) proposals in its investment processes, marking a significant win for states opposing ESG initiatives [1][4]. Group 1: Settlement Details - The settlement requires BlackRock to enhance transparency, undergo regular audits, provide compliance training, cooperate with the attorney general, improve investor communications, and commit to prioritizing financial interests [3]. - Tennessee Attorney General Jonathan Skrmetti stated that the settlement ensures that retirement funds for Tennesseans will not support ideologies they oppose [2]. - BlackRock expressed satisfaction with the resolution, emphasizing its commitment to acting in the best interests of clients and increasing transparency about its practices [5]. Group 2: Legal Context and Implications - The lawsuit, filed in 2023, accused BlackRock of making misleading statements regarding the extent to which ESG proposals influenced its investments, a claim that BlackRock has dismissed as inaccurate [3][9]. - The settlement does not involve any penalties, fines, or admissions of wrongdoing by BlackRock [5]. - This settlement may set a precedent for other ongoing legal challenges against ESG investing, particularly in the context of a coalition of states that have accused major asset managers of colluding to influence coal production negatively [8].

Executive Compensation - Goldman Sachs CEO David Solomon received a total compensation of $39 million in 2023, marking a 26% increase from the previous year [1] - The compensation package includes a $2 million base salary, an $8.3 million cash bonus, and the remainder in stock options [1] - Solomon is eligible for an $80 million retention bonus if he remains with the bank for another five years [1][2] Succession Planning and Retention - President and COO John Waldron, seen as Solomon's potential successor, will receive the same $80 million retention bonus if he stays until 2030 [3][7] - The retention bonuses are part of the board's strategy to ensure leadership stability and maintain a solid succession plan [5] - The decision follows Waldron's brief consideration of joining Apollo Global Management, highlighting the competitive landscape for top talent [4][5] Financial Performance and Strategy - Goldman Sachs reported surging full-year profits, driven by a revival in M&A activity and optimism about the incoming administration's economic policies [2] - The company's stock price has increased by nearly 50% over the past year and 174% since Solomon became CEO in 2018 [6] - Solomon has refocused the bank on traditional investment banking activities after significant losses in its consumer banking arm, Marcus [8] Leadership and Public Perception - Solomon's tenure has faced criticism over his DJing side hustle and use of corporate aircraft, but strong financial results have alleviated investor concerns [9] - Solomon has officially retired from DJing at major clubs and festivals, signaling a shift in focus back to the bank's core operations [8][9]

Investigation Overview - US auto safety regulators have opened an investigation into General Motors vehicles equipped with certain V8 engines, including the best-selling Silverado, due to complaints of engines seizing up without warning [1] - The National Highway Transportation Safety Administration (NHTSA) is investigating an estimated 877,710 vehicles after receiving 39 complaints from users of GM vehicles equipped with L87 V8 engines [1] Safety Concerns - Complainants reported no detectability prior to engine failure, which increases the risk of crashes resulting in injury and/or property damage [2] - A bearing failure can cause the engine to seize or a breaching of the engine block by a connecting rod [2] Affected Vehicles - The preliminary investigation includes the following models: 2019-2024 Chevrolet Silverado 1500, 2021-2024 Chevrolet Tahoe, 2021-2024 Chevrolet Suburban, 2019-2024 GMC Sierra 1500, 2021-2024 GMC Yukon, 2021-2024 GMC Yukon XL, 2021-2024 Cadillac Escalade, and 2021-2024 Cadillac Escalade ESV [3] Market Performance - General Motors was the US leader in 2024 auto sales, posting a 4.3% increase in sales for the year, its best performance since 2019 [5] - The Silverado pickup truck was the second-best selling vehicle in the US last year [4][5]

Core Viewpoint - The Federal Trade Commission (FTC) has filed a lawsuit against PepsiCo for allegedly offering preferential pricing to Walmart, which the FTC claims has led to higher consumer prices and disadvantaged other retailers [1][2]. Group 1: Allegations and Legal Context - The lawsuit alleges that PepsiCo violated the Robinson-Patman Act, a law that has seen limited enforcement in recent decades [2]. - The FTC's action aims to ensure fair competition among all retailers, regardless of size, according to outgoing FTC Chair Lina Khan [2]. Group 2: Company Response - PepsiCo has strongly disputed the FTC's allegations and criticized the manner in which the lawsuit was filed [1][3]. - The company emphasizes its position against the claims made by the FTC [3]. Group 3: Political Context - The lawsuit has seen opposition from the FTC's two Republican commissioners, who voted against the case [4].

The looming TikTok ban presents a multibillion-dollar headache for app store operators Apple and Google – as well as other Big Tech giants like Microsoft and Amazon that count its Chinese parent company ByteDance as a business partner.The Biden administration effectively punted enforcement of the law, which is set to take effect on Sunday, to President-elect Donald Trump, who formally takes office the next day and has vowed to save the app. On Friday, the Supreme Court rejected TikTok’s appeal and upheld th ...

Amazon is laying off 200 staffers, the majority of them from the e-commerce firm’s fashion and fitness department, as part of an ongoing effort to streamline operations and improve efficiency, the company said.The layoffs affect workers across multiple locations in the United States, including a group in San Diego.An Amazon spokesperson confirmed the job eliminations and stated that the company is restructuring its North America Stores team to enhance efficiency and innovation. 3 Amazon has confirmed repo ...

Apple was dethroned as China’s biggest smartphone seller in 2024, with local rivals Vivo and Huawei overtaking the iPhone maker after its annual shipments in the country declined 17%, data from research firm Canalys showed on Thursday.It was Apple’s largest-ever annual sales decline in China and involved contraction in all four quarters, including a 25% drop in the final quarter, according to the data.Apple shares dropped 4% on Thursday.For the full year, budget smartphone maker Vivo captured a 17% market s ...