US prosecutors are examining financial transactions at Jack Dorsey’s Block, NBC News reported Wednesday, citing two people with direct knowledge of the matter.NBC reported that federal prosecutors were discussing with a former employee alleged widespread compliance lapses at Square and Cash App, the company’s two main units.Areas under investigation include whether the company failed to gather sufficient information on customers to assess risks, if Square processed transactions involving countries subject t ...

Starbucks shares plunged 15% in early trading Wednesday after the Seattle-based java giant reported weaker-than-expected quarterly earnings and warned that its cafes will continue to underperform in 2024.For the three-month period ended March 31, Starbucks said that same-store sales in the US decreased 3% as foot traffic toppled a disappointing 7%, marking the second consecutive quarter that the coffee chain’s home market has struggled.“In a highly challenged environment, this quarter’s results do not refle ...

Elon Musk’s abrupt decision to lay off employees who ran Tesla’s electric vehicle charging business blindsided automakers gearing up to equip new EVs for customers to use the Tesla Supercharger network, industry officials and analysts said on Tuesday.For now, General Motors, Ford and other automakers which struck deals last year to give customers access to the network said they are not changing their plans.Tesla’s decision to open its network to rival EV manufacturers was hailed by President Biden, and open ...

Amazon forecast second-quarter revenue below Wall Street expectations on Tuesday, as it expects tepid spending from cost-conscious businesses on its cloud-computing services.Amazon’s first-quarter sales of $143.3 billion, a 13% gain, were higher than the $142.5 billion average according to LSEG data.Amazon shares rose as much as 6% in after-hours trading, after closing down 3.3% in the regular session.Amazon’s first-quarter sales of $143.3 billion beat analysts’ estimates. REUTERSThe company expects revenue ...

McDonald’s earnings fell short of expectations as its inflation-weary menu prices and boycotts at its Middle Eastern franchises hurt profits.McDonald’s reported first-quarter net income of $1.93 billion, or $2.66 per share on Tuesday. Excluding restructuring charges, the Golden Arches earned $2.70 per share. Though it was up from the year-ago period, it missed Wall Street’s $2.72-per-share expectations. 5 McDonald’s reported first-quarter earnings on Tuesday that widely came in below Wall Street’s expecta ...

 The US Supreme Court declined on Monday to hear Elon Musk’s bid to throw out part of a securities fraud settlement with the Securities and Exchange Commission restricting the billionaire businessman’s public statements about his electric car company Tesla.The justices turned away Musk’s appeal of a lower court’s decision upholding the 2018 settlement reached after he said on social media that he had “funding secured” to take Tesla private — a statement the SEC in a legal action called false and misleading. ...

The National Highway Traffic Safety Administration is opening an investigation into Ford Motor’s hands-free driving technology BlueCruise after two fatal crashes involving Mustang Mach-E SUVs striking parked vehicles, the agency said Monday.The agency’s preliminary evaluation into 130,000 2021-2024 Ford Mustang Mach-E vehicles is the first step to determine whether the vehicles pose an unreasonable risk to safety.Ford said it is working with the NHTSA to support its investigation. 3 The agency’s prelimina ...

Tesla shares surged more than 12% in early trading Monday after CEO Elon Musk secured approval to roll out “Full Self Driving” technology in China after a whirlwind weekend trip to the country.Top Chinese officials gave Tesla tentative permission to launch the software following a meeting with Musk during his surprise trip to Beijing. Tesla will rely on Chinese tech giant Baidu’s mapping license for navigation on public roads, people familiar with the matter told the Wall Street Journal.During his trip, Mus ...

The emergency slide that fell off a Delta flight departing from JFK Airport on Friday was found two days later — washed up in front of the beachside house of a lawyer whose firm happens to be suing Boeing over safety issues, The Post has learned.Jake Bissell-Linsk — a New York attorney whose firm filed a lawsuit against Boeing following the Alaska Airlines door blowout in January — told The Post he got a surprise on Sunday around noon when he looked out the window of his oceanfront home in Belle Harbor, Que ...

To hear it from his handlers at Goldman Sachs, CEO David Solomon is having quite a moment these days. After surviving a rocky couple of years of staff turmoil and business failures (retail banking, the Apple credit card), Solly gave up his side hustle as DJ D-Sol so he could focus more on his day job, and it seems to be working. Goldman’s stock has been up, way up, beating rivals JPMorgan and Morgan Stanley in recent months.The firm had blow-out profits for the first quarter of this year, even as the dealma ...