Apple on Thursday was hit with a proposed class action accusing the tech giant of paying more than 12,000 female employees in California less than men with comparable jobs, lawyers for the plaintiffs said.The lawsuit filed in state court in San Francisco by two women claims Apple systematically underpays female workers in its engineering, marketing, and AppleCare divisions, according to a release from the lawyers.Apple bases workers’ starting pay on their salaries at previous jobs or on their “pay expectati ...

Tesla shares spiked 3.5% in early trading on Thursday after CEO Elon Musk signaled that shareholders would overwhelmingly approve his controversial $56 billion pay package, as well as his plan to relocate the company’s legal headquarters to Texas.Shareholders can cast and change their votes on the two resolutions up until 4:30 p.m. ET, when the company’s annual meeting kicks off in Texas. Musk shared charts which showed both measures were easily clearing the threshold required for passage, according to prel ...

Wells Fargo last month terminated over a dozen employees after reviewing allegations that they were involved in pretending to work by using simulating keyboard activity, Bloomberg News reported Thursday.The fired staffers worked in the bank’s wealth and investment management unit, according to the report, which cited the bank’s disclosures filed with the Financial Industry Regulatory Authority.“Wells Fargo holds employees to the highest standards and does not tolerate unethical behavior,” a spokesperson tol ...

Disney and Florida Gov. Ron DeSantis have put an end to their feud with a deal that allows the entertainment giant to develop the Walt Disney World Resort near Orlando for the next 15 years.DeSantis and Disney, one of Florida’s biggest employers, had been embroiled in a dispute since 2022, when former Disney CEO Bob Chapek criticized a state legislative effort to limit classroom discussion of sexuality and gender issues for younger students. Critics described it as the “Don’t Say Gay” law.Under the agreemen ...

Tesla shareholders are voting to approve a $56 billion pay package for Elon Musk and to move the electric vehicle maker’s legal home to Texas, Musk said on social media platform X on Wednesday, adding that passage was by wide margins.A yes vote gives the electric carmaker more ammunition in a Delaware court, where a judge voided the 2018 pay package plan, which at the time was the largest in US corporate history, saying the board was “beholden” to CEO Musk.It also marks a massive win for Musk and the board, ...

Apple once again became the world’s most valuable company on Wednesday, dethroning Microsoft from the top spot, as the iPhone maker pushed ahead in a race to dominate artificial intelligence technology.Its shares jumped nearly 4% to a record $215.04, giving it a market valuation of $3.29 trillion.Microsoft’s market capitalization stood at $3.24 trillion, falling behind Apple for the first time in five months. 3 Apple shares jumped to a record as the iPhone maker pushed ahead in a race to dominate artifici ...

Apple shares climbed 6% to a record high on Tuesday, a day after unveiling new artificial intelligence features meant to increase the appeal of its devices, including the iPhone.The rally comes as a breather for the stock, that has underperformed versus the benchmark S&P 500 this year, as Apple grapples with weak sales for its premium consumer gadgets.Apple stands to add $180 billion to its market value if the current stock price of $205 holds.The rally comes as a breather for the stock, that has underperfo ...

Apple unveiled AI features called “Apple Intelligence” and a partnership with ChatGPT maker OpenAI across its devices on Monday as the Big Tech giant seeks to convince Wall Street it is keeping pace in the race to develop the burgeoning technology.OpenAI boss Sam Altman was seated in the VIP section during Apple’s Worldwide Developer Conference, which kicked off with a heavily stylized intro in which Apple executives were seen “skydiving” down to the company’s headquarters.As part of a long-teased partnersh ...

California State Teachers Retirement System will vote against Tesla CEO Elon Musk’s $56 billion pay package, the pension fund’s chief investment officer told CNBC on Monday.“We’ll pay him 140-times the average worker pay. How about that deal? I think that’s more than fair. This pay package is ridiculous,” Chris Ailman said on “Squawk on the Street.”California State Teachers Retirement System’s decision comes Norway’s $1.7 trillion sovereign wealth fund said it will vote against Elon Musk’s pay package. Cali ...

Alphabet’s Google will not face a jury trial over its alleged digital advertising dominance after the company wrote a check to the US to cover monetary damages, a federal judge ruled Friday.The Justice Department and a coalition of states sued the tech giant last year, claiming it was unlawfully monopolizing digital advertising and overcharging users. The jury trial would have been the first-ever in a civil antitrust case lodged by the Justice Department, Google said.Google will face a non-jury trial in the ...