A McDonald’s franchisee who owns 18 outposts in California is considering reducing store hours, hiking menu prices and delaying renovations to offset the impact of the state’s $20 hourly minimum wage for fast-food workers.Scott Rodrick said he’s had to rethink his business strategy in the wake of the new law, which went into effect April 1 and has spurred some of his fast-food rivals to raise menu prices. “There is more than extraordinary labor costs stressing restaurant P&Ls right now,” Rodrick, whose 18 M ...

The Federal Aviation Administration is investigating a Boeing whistleblower’s claims that the company dismissed safety and quality concerns in the production of the planemaker’s 787 and 777 jets, an agency spokesperson said Tuesday.Boeing engineer Sam Salehpour identified engineering problems that affect the structural integrity of the jets and claimed Boeing employed shortcuts to reduce bottlenecks during the 787 assembly process, his attorneys said in a release.“Rather than heeding his warnings, Boeing pr ...

Tesla has settled a lawsuit over a car crash which killed an Apple engineer in 2018 after his car veered off a highway near San Francisco, court documents showed on Monday.The settlement would help Tesla avoid a lengthy jury trial over what role its Autopilot driver-assistance technology may have played in the crash.The case involves a highway accident that killed Walter Huang. Tesla had contended Huang misused the system because he was playing a video game just before the accident.The case involved a highw ...

The US government will dole out $11.6 billion in CHIPS Act funds to Taiwan Semiconductor in order to get the world’s largest chipmaker to boost its production of the critical technology in Arizona, the US Commerce Department said Monday.The Taiwanese company — which produces 90% of the world’s super-advanced semiconductors and supplies tech giant like Apple and Nvidia — agreed to build a third factory in Phoenix as part of a $65 billion investment at the production hub, officials said. TSMC’s first two fact ...

JPMorgan Chase is preparing for the day when Jamie Dimon is no longer head of the banking behemoth.The board of directors at JPMorgan Chase said a top priority for the bank is to “plan for an orderly CEO transition in the medium term,” according to its latest proxy statement which was released on Monday.According to the bank, the board “is spending significant time on developing Operating Committee members who are well-known to shareholders as strong potential CEO candidates.” 4 JPMorgan Chase CEO Jamie D ...

The Google Gemini chatbot’s “woke” AI image generator still isn’t fixed more than a month after its disastrous rollout – and some critics claim it’s the latest sign that embattled CEO Sundar Pichai should be out of a job.The search giant disabled Gemini’s ability to create pictures of humans in late February after it produced bizarre ahistorical photos such as Black Vikings and “diverse” Nazi-era German soldiers. At the time, Google DeepMind CEO Demis Hassabis said that the feature would be “back online ver ...

Facebook owner Meta announced major changes to its policies on digitally created and altered media on Friday, ahead of elections poised to test its ability to police deceptive content generated by new artificial intelligence technologies.Mark Zuckerberg’s social media giant will start applying “Made with AI” labels in May to AI-generated videos, images and audio posted on its platforms, expanding a policy that previously addressed only a narrow slice of doctored videos, Vice President of Content Policy Moni ...

Apple is reportedly laying off 614 workers after cancelling its decade-long effort to build a self-driving electric car in its first round of job cuts since the pandemic.The Cupertino, Calif.-based iPhone maker notified employees of the layoffs on March 28, with changes to take effect on May 27, according to The Wall Stret Journal, citing state records.Though it wasn’t immediately clear which roles were being affected, the move comes about a month after Apple axed its EV ambitions in favor of focusing more ...

McDonald’s is buying its 30-year-old Israel franchise from Alonyal Ltd., taking back ownership of 225 restaurants in the country that employs more than 5,000 people, the companies said on Thursday.The fast-food chain has been subject to boycotts and protests since Alonyal announced shortly after the Oct. 7 attack by Palestinian Islamist group Hamas that it would be donating free meals to the Israeli military.McDonald’s is a global chain but its franchises are often owned locally and operate autonomously.Its ...

Wall Street giant Goldman Sachs was urged to separate its CEO and chairman roles held by embattled czar David Solomon — and to slash his gargantuan compensation package. Glass Lewis and Institutional Shareholder Service, two influential proxy advisers, made the recommendations in separate reports ahead of Goldman’s annual shareholders meeting this month. An independent chair “is nearly always preferable to having a single individual lead both the board and the executive team,” Glass Lewis wrote on Thursday, ...