Activist investment firm ValueAct Capital Management agreed to back Walt Disney’s board nominees at its upcoming shareholder meeting as the entertainment giant looks to fight off a proxy battle from Nelson Peltz.Disney signed an agreement to share confidential company information with ValueAct, plus consult with the San Francisco-based firm “on strategic matters, including through meeting with the Disney Board and management,” per a press release shared with The Post on Wednesday.“ValueAct Capital has a tr ...

Tesla beat estimates for fourth-quarter deliveries on Tuesday after a push to hand over more Model 3 electric cars before some variants of the compact sedan lose federal tax credits in the New Year under the Inflation Reduction Act.The world’s most valuable automaker delivered a record number of vehicles in the fourth quarter and hit its 2023 target of 1.8 million, helped by increasing discounts on key models.The end of the tax incentives on some models was expected to bring sales forward into the fourth q ...

Apple started the new year on a sour note Tuesday after analysts at Barclays cut the company’s stock rating over concerns about softening sales demand for its flagship iPhone.The analysts cited recent sales checks that showed weaker demand in China, as well as developed markets. Barclays downgraded its rating for Apple to “underweight.”Barclays also cut its price target for Apple to $160, down from its previous target of $161. Apple’s stock fell about 3% to 186.38 in premarket trading after the downgrade.“ ...

A Japanese car manufacturer has temporarily shut down production after admitting to decades of fraudulent safety test results.“We recognize the extreme gravity of these irregularities, their causes, and the recommendations to prevent their recurrence identified during the Independent Third-Party Committee’s investigations,” automaker Daihatsu wrote in a statement on the company’s website.“We will not only review and revise certification application operations, but we will also make sweeping reforms to our ...

She was tricked by this treat. A Florida woman is taking on The Hershey Company, claiming it has “tricked” customers through “misleading” packaging on Reese’s seasonal-shaped chocolates. Cynthia Kelly, of Tampa, is suing the chocolate giant for $5 million because she claims the packaging and the actual contents don’t match. For example, the pumpkin-shaped chocolate does not have eyes and nose cutouts like the packaging suggests, and the football shape is like an egg, according to the lawsuit, filed in Flor ...

Tesla’s stainless steel Cybertruck was involved in its first reported accident after finally hitting the road last month — and it wasn’t pretty for the other car.A Toyota Corolla was left crumpled after appearing to collide head-on with the fully electric, bomber-like vehicle on Thursday, according to a Reddit post that showed photos of the accident.The Toyota’s front end was completely demolished, and the sedan’s side airbags deployed as it rested on the side of the road with its hood popped open and a he ...

Drugmakers including Pfizer, Sanofi and Takeda Pharmaceutical plan to raise prices in the US on more than 500 drugs in early January, according to data analyzed by healthcare research firm 3 Axis Advisors.Excluding different doses and formulations, more than 140 brands of drugs will have their prices raised next month, the data showed.The expected price hikes come as the pharmaceutical industry gears up for the Biden Administration to publish significantly discounted prices for 10 high-cost drugs in Septem ...

Google has agreed to settle a massive $5 billion lawsuit that accused the embattled tech giant of improperly tracking the personal data of millions of people who used its Chrome browser’s incognito mode, lawyers said Friday.Lawyers from both sides said they had signed a binding term sheet as part of the mediation process and would submit the agreement for final approval by a federal judge in Oakland, Calif., no later than Feb. 24, 2024.Financial terms of the settlement were not disclosed. The plaintiffs ha ...

General Motors has sued the city of San Francisco, seeking to recover more than $100 million, alleging that it was charged a higher tax bill than warranted because its Cruise self-driving car unit was improperly used to make the calculations.In the case filed in California Superior Court in San Francisco, GM is seeking $108 million in back taxes over the course of seven years, as well as $13 million in penalties and interest, according to the complaint. The Detroit automaker said San Francisco-based Cruise ...

Amazon is warning Prime Video subscribers that they will soon see a limited number of ads while watching movies or TV shows — unless they’re willing to cough up another monthly fee.In an email to subscribers this week, Amazon said it would begin to show “limited advertisements” on its main streaming platform on Jan. 29. Customers can receive ad-free service if they are willing to pay an additional $2.99 per month.“This will allow us to continue investing in compelling content and keep increasing that inves ...