A group of major US airline CEOs have reportedly requested a meeting with Boeing’s board to express concerns over production problems following near-disastrous fuselage blowout aboard an Alaska Airlines flight.The airline chiefs want Boeing directors to spell out their plan for fixing quality problems at the aircraft maker as US regulators scrutinize the company following the Jan. 5 incident on a 737 MAX, people familiar with the matter told the Wall Street Journal on Thursday.Boeing has responded by offeri ...

Amazon’s top brass is now more concerned about China-based competitors Temu and Shein than the Seattle-based web giant’s decades-long battle with Walmart and Target, according to a report.Fast-growing e-tailers Temu and Shein, which offer cheap goods shipped directly from China, are making significant inroads in the US in less than two years — and there are signs it is already taking a bite out of Amazon’s business, the Wall Street Journal reported. Temu grew to 51.4 million users in January from its launch ...

Apple violated antitrust laws by blocking fair competition to ensure the dominance of its iPhone, the Justice Department alleged Thursday in a long-awaited federal lawsuit that could upend the business model of the world’s second-most valuable company.Filed in a New Jersey federal court by the DOJ and 16 state attorneys general, the lawsuit alleges that Apple has maintained an illegal monopoly over the smartphone market through unfair tactics, such as onerous App Store fees and restricted developer access t ...

Target is reportedly doubling bonuses for its salaried workers this year in a display of financial strength — despite a challenging year for the retailer during which it reported its first decline in store visits and same-store sales since before the pandemic.Target has plans to pay 100% of employees’ eligible 2023 bonuses, up an impressive 50% from the year prior, people familiar with the matter speaking on condition of anonymity told Bloomberg.The Minneapolis-based chain employs more than 415,000 people — ...

A group of California residents have filed a lawsuit against Starbucks and claim the popular coffeehouse chain discriminates against lactose-intolerant customers.The $5 million class action lawsuit represents Maria Bolliger, Dawn Miller and Shunda Smith, three women who allege Starbucks has violated the Americans with Disabilities Act (ADA) by charging lactose intolerant coffee lovers like them more for nondairy milk options, according to the Los Angeles Times.In expensive cities such as San Francisco and N ...

The Justice Department is poised to sue Apple as soon as Thursday for allegedly violating antitrust laws by blocking rivals from accessing hardware and software features of its iPhone, Bloomberg News reported on Wednesday.The lawsuit, which is expected to be filed in federal court, escalates the Biden administration’s antitrust fights against most of the biggest technology companies in the US, the report said.Apple is accused of blocking rivals from accessing hardware and software features of its iPhone. RE ...

Private equity firm Apollo Global Management reportedly made an $11 billion offer to pry away Paramount Global’s Hollywood studio, Paramount Pictures, from the rest of media heiress Shari Redstone’s debt-saddled company. The stunning offer comes as an independent committee of the company’s board of directors reviews a competing bid from Skydance Media for all of Paramount Global — which also owns CBS, Comedy Central, Nickelodeon and the Paramount+ streaming service, The Wall Street Journal reported Wednesda ...

The Biden administration on Wednesday said it is awarding Intel nearly $20 billion in grants and loans as part of the CHIPS Act, supercharging the company’s domestic semiconductor output and marking the government’s largest outlay to subsidize leading-edge chip production.President Joe Biden will announce the preliminary agreement for $8.5 billion in grants and up to $11 billion in loans for Intel in Arizona, where some of the funding will be used to build two new factories and modernize an existing one.Com ...

Chipotle Mexican Grill’s stock breached the $3,000 mark for the first time on record, rising as much as 8% on Wednesday after the burrito chain’s board approved a 50-for-1 stock split as the company looks to make the stock less expensive for potential investors.Shares of the California-based company have rallied to record levels over the past year powered by strong earnings owing to solid demand for burritos and rice bowls among its relatively wealthier customer base. The stock was recently at $2,909.Shares ...

France’s competition watchdog on Wednesday said it fined Alphabet’s Google $271.7 million for breaches linked to EU intellectual property rules in its relationship with media publishers, citing concerns about the company’s AI service.The watchdog said Google’s AI-powered chatbot Bard — since rebranded under the name Gemini — was trained on content from publishers and news agencies, without notifying them.Google has pledged not to contest the facts as part of settlement proceedings, the watchdog said, adding ...