The National Highway Traffic Safety Administration said Monday it has opened a preliminary probe into about 2,000 Waymo self-driving vehicles after reports that the company’s robotaxis may have failed to follow traffic safety laws around stopped school buses.The probe is the latest federal review of self-driving systems as regulators scrutinize how driverless technologies interact with pedestrians, cyclists and other road users.NHTSA said the Office of Defects Investigation opened the review after flagging ...

Gucci owner Kering has agreed to sell its beauty business to L’Oreal for $4.66 billion, the company said on Sunday, as new CEO Luca de Meo moves to tackle the luxury group’s high debt and refocus on its core fashion business.Under the deal, French beauty giant L’Oreal will acquire Kering’s fragrance line Creed, as well as rights to develop products under Kering’s fashion labels Bottega Veneta and Balenciaga under a 50-year exclusive license.L’Oreal is acquiring Kering’s fragrance line Creed, and rights to d ...

Core Viewpoint - AppLovin, a rapidly growing tech company valued over $200 billion, is under scrutiny from regulators regarding its consumer data practices, including potential investigations by multiple state attorneys general and a reported SEC probe over data privacy issues [1][2][6]. Regulatory Investigations - The SEC is investigating whether AppLovin misled investors about its data collection and ad-targeting methods, following allegations from short-sellers that the company used digital "fingerprints" to improperly track users for targeted advertising [2][6]. - AppLovin is reportedly being investigated by federal and state regulators concerning its consumer data usage, with Delaware leading the probe [5][6]. - State regulators have reached out to short sellers as part of a preliminary investigation into AppLovin, indicating the seriousness of the allegations [5][6]. Allegations and Company Response - Allegations include claims that AppLovin illegally tracked children and served inappropriate ads, with a short-seller report suggesting the company assigned unique digital identifiers to underage accounts labeled "do not track" [8][14]. - AppLovin has denied these allegations, asserting that users must explicitly consent to download applications from its ads and that the product "Array" was merely a test [5][9]. - The company maintains that it operates within industry-standard policies regarding ad content and data privacy [9][12]. Business Performance - Despite the ongoing investigations and allegations, AppLovin's stock has surged 80% this year, and the company has been added to the S&P 500, indicating strong market interest in its AI-powered advertising software [12][13]. - Founded in 2012, AppLovin has shifted its focus from mobile gaming to app monetization software, positioning itself as a competitor to major players like Meta and Google [12][13]. Legislative Context - The investigations occur amid heightened legislative efforts to protect children online, including a reintroduction of an updated version of the Children’s Online Privacy Protection Act (COPPA) aimed at barring targeted ads for individuals under 17 [24][25]. - Legal challenges are also emerging against AppLovin, including a lawsuit from a California resident alleging unauthorized tracking of her data despite disabling location services [25][26].

Core Insights - Paramount Skydance will initiate mass layoffs, eliminating approximately 2,000 U.S. jobs as part of a $2 billion cost-cutting strategy under new CEO David Ellison [1][5][6] - The layoffs are a consequence of the $8.4 billion merger between Skydance Media and Paramount Global, which was finalized in August [1][3][5] - Additional international job cuts are anticipated, with comprehensive details expected to be revealed in the third quarter earnings report on November 10 [1][5] Company Overview - As of December 2024, Paramount employed nearly 18,600 full- and part-time employees, along with 3,500 project-based staff [6] - The company had previously indicated plans to reduce between 2,000 and 3,000 jobs by early November [5]

Core Viewpoint - Salesforce CEO Marc Benioff publicly apologized for suggesting the deployment of National Guard troops to San Francisco, stating that he no longer believes federal intervention is necessary for public safety [1][2][5]. Group 1: Apology and Clarification - Benioff expressed that his earlier comments were made out of "an abundance of caution" related to the Dreamforce event and he thanked local officials for their support [2][4]. - He acknowledged the success of Dreamforce, which attracted approximately 50,000 visitors, and emphasized the importance of collaboration for progress in San Francisco [4][12]. Group 2: Reaction and Criticism - His initial remarks received backlash from city leaders and allies in the tech community, with local officials noting that crime rates in San Francisco have reached a 70-year low [7][10]. - Prominent figures, including venture capitalist Ron Conway, resigned from the Salesforce Foundation board in response to Benioff's comments, indicating a significant fallout within the community [8]. Group 3: Future Commitments - Despite the controversy, Salesforce announced plans to invest $15 billion in San Francisco over the next five years to advance artificial intelligence initiatives, demonstrating a commitment to the city [11].

Core Viewpoint - Tesla's proposed $1 trillion compensation package for CEO Elon Musk faces significant opposition, particularly from proxy adviser ISS, which has urged shareholders to reject the plan, marking the second consecutive year of such recommendations [1][2][5]. Group 1: Compensation Plan Details - The proposed compensation plan is described as potentially the largest corporate pay package in history, with ambitious performance targets that could still yield Musk tens of billions even with partial achievements [3][10]. - The plan includes market capitalization milestones up to $8.5 trillion and operational targets such as delivering 20 million vehicles and achieving $400 billion in adjusted core earnings [10]. - ISS has criticized the plan for its "astronomical" size and design features that could lead to high payouts for partial goal achievement, raising concerns about potential dilution for existing investors [7][11]. Group 2: Shareholder and Board Reactions - The ISS recommendation adds pressure on Tesla's board ahead of the upcoming shareholder meeting on November 6, renewing scrutiny of Musk's compensation following a Delaware court's previous voiding of his $56 billion pay package [2]. - Tesla's shares increased after the announcement of the compensation plan, as investors believe it would incentivize Musk to focus on the company's strategy [4][8]. - Tesla's board argues that retaining Musk is crucial for attracting and retaining talent, with Director Kathleen Wilson-Thompson emphasizing the importance of his leadership [6]. Group 3: Voting Power and Governance - Unlike the 2018 pay deal, Musk will be allowed to vote his shares this time, giving him approximately 13.5% of Tesla's voting power, which could be pivotal for securing approval of the compensation plan [6]. - Tesla has publicly criticized ISS's stance, suggesting that the adviser overlooks fundamental investment and governance principles, while reiterating a call for support of all proposals [9].

Core Viewpoint - A new study indicates that women using Depo-Provera have a higher risk of developing slow-growing brain tumors, specifically meningiomas, raising concerns as Pfizer faces numerous lawsuits regarding the contraceptive's safety [1][4][10]. Group 1: Study Findings - The study analyzed over 61 million female patient records, revealing that women who used depot medroxyprogesterone acetate (DMPA) had a twofold higher risk of being diagnosed with meningioma compared to those not on hormonal birth control [4][6]. - The highest risk of meningioma was found in women who began using DMPA after age 31 or those who used it for more than four years [5][6]. - Meningiomas are typically benign but can cause significant health issues by exerting pressure on nerves or brain structures [5]. Group 2: Legal and Regulatory Context - Pfizer is currently facing over 1,200 federal lawsuits from women alleging that the company failed to warn them about the risks associated with meningioma linked to Depo-Provera [10][12]. - A "black box" warning was added to Depo-Provera's label in 2004 due to concerns about significant bone mineral density loss with long-term use [9]. - The FDA had previously rejected Depo-Provera for contraceptive use due to cancer risk concerns before its approval in 1992 [8][9]. Group 3: Company Response - Pfizer maintains that it stands behind the safety and efficacy of Depo-Provera, emphasizing its importance as a treatment option for women's reproductive health [12][14]. - The company has requested the FDA to update the label with a warning regarding meningioma risk, but the request was denied due to insufficient supporting studies [14].

Core Points - Ford is recalling nearly 625,000 vehicles in the US due to safety issues related to seat belts and rearview camera displays, which could increase the risk of crashes or injuries [1][10] Group 1: Seat Belt Recall - The recall includes 332,778 units of 2015-2017 Ford Mustang vehicles due to faulty seat belt anchor cables that may corrode and break over time [1][2] - The corrosion is attributed to water and salt from the road, which can affect the front seat belt pretensioner cables [1][8] - Owners are advised to take their vehicles to dealerships for inspection and potential replacement of the front seat belt cables at no cost [2][8] Group 2: Rearview Camera Recall - A separate recall involves 291,901 units of 2020-2022 F-250 SD, F-350 SD, and F-450 SD vehicles due to a faulty rearview camera image that may not display correctly in certain lighting conditions [4][5] - This camera issue could hinder the driver's ability to see behind the vehicle, increasing the risk of a crash [5][10] Group 3: Overall Recall Context - Ford has issued more safety recalls in the first half of 2025 than any other car company has in an entire year, with 88 recalls reported by June and approximately 120 recalls so far this year [11] - The company has consistently reported the highest or second-highest number of recalls in the industry since 2020 [11]

Core Viewpoint - Micron plans to cease supplying server chips to data centers in China due to the impact of a 2023 government ban on its products in critical infrastructure, which has hindered recovery efforts [1][6]. Group 1: Business Impact - The company was the first U.S. chipmaker targeted by the Chinese government, seen as a retaliatory measure against U.S. restrictions on China's semiconductor industry [1]. - Micron generated $3.4 billion, or 12% of its total revenue, from mainland China in the last business year, but will continue to sell to two Chinese customers with significant data center operations outside China, including Lenovo [4][5]. - The ban has resulted in Micron missing out on China's data center expansion boom, benefiting competitors like Samsung Electronics, SK Hynix, and Chinese firms such as YMTC and CXMT [10]. Group 2: Market Dynamics - Despite challenges in China, the global demand for data centers, driven by AI adoption, has allowed Micron to report record quarterly revenue [15]. - The investment in data centers in China surged ninefold to 24.7 billion yuan ($3.4 billion) last year, indicating a significant market opportunity that Micron is currently unable to capitalize on [15]. - Micron is looking to expand its customer base outside of China in regions such as Asia, Europe, and Latin America [5]. Group 3: Employment and Operations - Micron's data center team in China employs over 300 people, and the company has been downsizing in other areas, including laying off several hundred employees in its universal flash storage program [17]. - The company continues to maintain a chip packaging facility in Xian, indicating a commitment to certain operations within China despite the challenges [18].

Core Viewpoint - Long-term shareholders of Starbucks are urging the company to resume negotiations with its workers' union regarding staffing, wages, and other labor issues, highlighting concerns over deteriorating labor relations and the lack of a contract agreement since the first successful union election over three years ago [1][3][5]. Group 1: Shareholder Concerns - The letter from shareholders, including the New York City Comptroller and various investment firms, emphasizes the significant deterioration in Starbucks' labor relations, citing over 100 Unfair Labor Practice complaints filed this year, partner walkouts, protests, and strikes [3][4]. - The New York City pension funds, as the largest shareholders in the group, hold approximately 1.33 million shares of Starbucks [4]. Group 2: Union Relations - Talks between Starbucks and the union, representing over 12,000 baristas, began in April of the previous year but have stalled, with no contract agreement reached despite three years since the first successful union election [4][5]. - Union members staged multi-day strikes during the peak holiday season in December, indicating ongoing tensions between the union and management [4]. Group 3: Company Actions - Starbucks is implementing a $1 billion restructuring plan under CEO Brian Niccol, which includes closing underperforming stores, such as its flagship unionized outlet in Seattle [8][9]. - Currently, there are over 650 unionized Starbucks stores in the U.S., with the first successful unionization occurring in Buffalo, New York, in December 2021 [8].