Chipotle Mexican Grill was sued on Monday by shareholders for concealing how many of its restaurants were skimping on portions, forcing the chain to spend more on ingredients and hurting its stock price.In a proposed class action filed in Santa Ana, Calif., federal court, shareholders said Chipotle failed to disclose growing unhappiness among customers with inconsistent portion sizes for its burritos and rice bowls.They said the truth came out as customers voiced dismay on TikTok and other social media, pro ...

Hedge funds betting against Elon Musk's Tesla have lost billions of dollars after Donald Trump's White House win last week, according to a report. Investment firms with short positions on the electric car maker's stock between Election Day and Friday's close suffered an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners. Many funds had unwound bets against Tesla over the past four months, despite challenges for electric vehicle makers like tariff ...

Core Insights - A key executive from Google's news division, Shailesh Prakash, has resigned amid rising tensions with publishers over advertising revenue issues [1][2] - Prakash's departure comes during a period of scrutiny for Google regarding its business practices and their impact on news publishers [4][6] Group 1: Executive Departure - Shailesh Prakash served as vice president and general manager for Google News and had previously worked at the Washington Post [2][3] - His experience included guiding the Washington Post's transition to digital content and working closely with Jeff Bezos after the acquisition of the newspaper [3] Group 2: Industry Tensions - Google has faced criticism for its "AI Overviews" feature, which allegedly harms traffic to news publishers by summarizing content without proper attribution [4][5] - The News Media Alliance has expressed concerns that this feature could be "catastrophic" for publisher traffic and has called for federal intervention [5] Group 3: Legal and Regulatory Scrutiny - Google is under investigation by the Justice Department for alleged antitrust violations related to its digital advertising practices [8][9] - A federal judge ruled that Google operates an illegal monopoly over online search, with potential remedies expected by next summer [10]

Goldman Sachs added dozens of bankers to Wall Street’s most exclusive club on Thursday by naming 95 new partners — the largest number since former CEO Lloyd Blankfein’s promoted 115 financiers in 2006. Goldman’s latest class of new partners — which includes 26 female bankers — also marks the biggest group by far since David Solomon became CEO in 2018. The announcement comes amid a flurry of dealmaking activity in the world’s financial capital that has boosted profits at Goldman’s lower Manhattan headquarter ...

General Motors said Thursday it will end production of the gas-powered Cadillac XT4 in January as it shifts production at its Kansas plant to electric vehicles.GM is investing $390 million at its Kansas assembly plant to build next-generation Chevrolet Bolt EVs.GM will end production of the gas-powered Cadillac XT4 in January. Tamara Beckwith/NY PostGM is investing $390 million at its Kansas assembly plant to build next-generation Chevrolet Bolt EVs APGM plans to end production of its Chevrolet Malibu in th ...

Apple has warned investors that its future suite of new products may never be as profitable as the iPhone.The company issued the warning in a recent securities filing as part of a list of “risk factors” that could weigh down the business.Apple, which was recently supplanted by AI chip maker Nvidia as the world’s most valuable company, last week reported 6% increase in revenue for the most recent quarter though it said that it expects weaker growth during the current quarter. 3 Apple has warned investors t ...

Tesla shares surged 14% on Wednesday after President-elect Donald Trump – whose campaign the electric-car maker’s CEO Elon Musk outspokenly supported – clinched a victory.Musk’s Tesla soared on Wednesday morning as Trump was projected to win the presidency with 277 electoral votes.The billionaire tech founder donated millions to a pro-Trump PAC, rallied on the former president’s behalf and swayed Americans to vote early with a $1 million-a-day sweepstakes. 3 Tesla shares zoomed ahead on Wednesday after Pr ...

JPMorgan Chase CEO Jamie Dimon will remain at the bank and has no plans to join the Trump administration despite questions about whether he would take a senior government role after the presidential election, a source said.Dimon, 68, has been the subject of repeated speculation in recent weeks as a candidate for Treasury secretary by both Republicans and Democrats, but said last month that his chances of taking an official post were “almost nil.”Jamie Dimon said last month that his chances of taking an offi ...

Core Viewpoint - Google has intensified restrictions on political discussions among employees, particularly in the lead-up to the recent election, aiming to maintain a neutral workplace environment and uphold its role as a trusted information source [1][2][5]. Group 1: Policy Implementation - Google CEO Sundar Pichai emphasized the importance of adhering to the company's "personal political activity policy" in a memo, stating the goal is to be a trusted source of information for all backgrounds and beliefs [2]. - The company had previously enacted a rule that would ban employees from political discussions after three violations of the policy [2]. - Google has been actively moderating and removing election-related posts from its internal message board, Memegen, to enforce these policies [1][4]. Group 2: Employee Reactions - Some employees expressed dissatisfaction with the political discussion restrictions, with one jokingly suggesting making Election Day a holiday to relieve the internal community management team [3]. - There were complaints from employees regarding the removal of posts they believed did not violate the political discussion ban [3]. Group 3: Historical Context - Google has faced internal discord over political issues, including the firing of dozens of employees involved in anti-Israel protests [5][6]. - The company briefly shut down Memegen in March due to employee backlash over its $1.2 billion "Project Nimbus" contract with the Israeli government [5]. - A federal labor complaint was filed by the Alphabet Workers Union, accusing Google of imposing an illegal "gag order" on discussions related to pending antitrust cases [6][7].

Apple is set to be fined by the European Union’s antitrust regulators under the bloc’s landmark rules aimed at reining in the power of Big Tech, making it the first company to be sanctioned, sources with direct knowledge of the matter said on Tuesday.The regulators charged in June that the iPhone maker, helmed by CEO Tim Cook, had breached the bloc’s tech rules. The charge against Apple was the first by the Commission under its Digital Markets Act (DMA).The fine is likely to come this month although the tim ...