Core Points - The Transportation Department has imposed a $2 million penalty on JetBlue Airways for operating four chronically delayed flights, marking the first fine of its kind for such scheduling practices [1] - JetBlue will pay a $1 million fine, with the remaining amount allocated to compensate affected customers for delays or disruptions within the next year [1][2] - JetBlue has agreed to provide vouchers worth a minimum of $75 for future flight cancellations or delays of three hours or more caused by the airline within the next year [2][6] Industry Implications - Transportation Secretary Pete Buttigieg emphasized that the airline industry must ensure flight schedules reflect reality, signaling increased scrutiny on airlines [3] - JetBlue did not admit liability but expressed the importance of timely arrivals for customers and criticized the USDOT for inadequate air traffic control staffing [3][4] - USDOT reported that JetBlue was responsible for over 70% of the disruptions for the four chronically delayed flights, which included 395 delays and cancellations [8]

Core Viewpoint - Costco's board of directors is urging shareholders to vote against a proposal aimed at eliminating the company's diversity, equity, and inclusion (DEI) program, emphasizing that these efforts are integral to their success and ethical standards [1][3]. Summary by Sections Company Position on DEI - The board asserts that their DEI initiatives are essential for attracting and retaining employees, which is critical for the company's success, supported by a workforce of over 300,000 employees globally [1][3]. - Costco's DEI program has been rebranded to "People and Communities," but the board maintains that their commitment to diversity and inclusion remains strong despite external pressures [3][5]. Shareholder Proposal - The proposal from the National Center for Public Policy Research challenges the legality of Costco's DEI program, citing the Supreme Court's ruling in SFFA v. Harvard, which impacts corporate DEI initiatives [1][4]. - The foundation argues that Costco's DEI practices could lead to potential legal risks, claiming that a significant portion of its workforce could be victims of illegal discrimination based on race and sex [3][5]. Legal and Financial Implications - The board contends that the DEI practices are legally appropriate and that the proposal reflects a policy bias rather than a genuine concern for the company's risk management [3][5]. - The potential financial impact of lawsuits related to DEI practices could amount to tens of billions of dollars, according to the proposal, if even a fraction of affected employees were to file claims [3][5].

Acquisition and Regulatory Approval - Nvidia completed its $700 million acquisition of Israeli AI firm Run:ai after a series of regulatory roadblocks [5][9] - The European Commission granted unconditional approval to the deal in December, concluding it would not raise competition concerns [2][4] - The EU antitrust watchdog initially warned the deal threatened competition in the markets where the companies operate [10] Market Dominance and Antitrust Scrutiny - Nvidia dominates the AI graphics processor market with an 80% share [11] - The European Commission's probe focused on practices that could strengthen Nvidia's control over the GPU market [3] - The U S Department of Justice is investigating the acquisition on antitrust grounds [1] Run:ai's Software and Ecosystem - Run:ai plans to make its software open-source, enabling it to extend availability to the entire AI ecosystem [6][8] - Currently, Run:ai supports only Nvidia GPUs [6] Regulatory Environment - Regulators on both sides of the Atlantic have increased scrutiny of tech giants' acquisitions of startups due to concerns about potential rivals being shut down [7]

Walt Disney World is hoping to attract visitors to its Orlando resort this summer with a limited-time offer.Beginning on Jan. 2, guests purchasing select Walt Disney World vacation packages for 2025 can enjoy a free dining plan.The offer is available most nights for arrivals between May 27 to June 26, and July 7 to Aug. 6, according to a press release.In order to participate in the promotion, a minimum 3-night, 3-day non-discounted Walt Disney World package that includes room and a theme park ticket with a ...

Barclays' Strategic Focus - Barclays is re-focusing on its home British market [1] - The company announced a three-year plan to become a simpler and more efficient bank, reducing reliance on investment banking revenue [9] Workforce and Compensation - Barclays has more than 13,000 workers in the US [3] - The company did not pay bonuses to dozens of bankers last year due to declining revenue and cut bonuses by 43% across the bank in 2023 [3] - Barclays was expected to increase bonuses by as much as 20% to some departments this year as dealmaking rebounded [3] - More than a dozen New York-based Barclays bankers and traders were fired just before the holidays and denied bonuses [6] - An investment banker might make a $200,000 salary and an expected $1 million bonus [6] - Some of the fired bankers are considering filing $10 million-plus lawsuits [8] Industry Practices - Rival Wall Street firms, including Goldman Sachs and Bank of America, award bonuses — perhaps half — when firing bankers and traders toward the end of the year [12] - A good employer will pay the bonus pro-rata for the amount of time worked during the year, but some don't [7] Legal and Employment Issues - The banks often in their labor agreements say you have to be employed at the time of the bonus to get your bonus [3] - They will likely contend that the bonus is earned throughout the year and is not discretionary [5] - Rahman said they may have a tough time winning their cases, though they often end up in arbitration with the Financial Industry Regulatory Authority (FINRA) [5] - One employment lawyer told The Post that while it is not unheard of for banks to fire workers late in the year, the fact that they were not giving a bonus is pretty heartless [4]

Core Points - The 3rd US Circuit Court of Appeals ruled that Starbucks lacked standing to challenge the constitutionality of NLRB administrative law judges, which may impact other companies like Amazon and Trader Joe's [1][6] - The court found substantial evidence that Starbucks was aware of baristas recording meetings without consent prior to their firings, rejecting Starbucks' argument regarding the timing of the discovery of these recordings [2][9] - The case marks the first instance where a federal appeals court examined broader challenges to NLRB enforcement powers, including the constitutionality of its administrative law judges [6][12] Company Actions - Starbucks was found to have illegally fired two baristas in Philadelphia who were attempting to organize a union, with the court supporting the NLRB's conclusion of unfair labor practices [8][9] - Starbucks claimed the firings were due to performance issues and spreading false rumors, but these claims were contested by the NLRB [10][11] - The NLRB's order for Starbucks to cover the baristas' foreseeable expenses related to their firings was deemed an overreach of authority by the court [9]

Core Insights - The FDA has approved Eli Lilly's Zepbound (tirzepatide) as the first medication for treating moderate to severe obstructive sleep apnea (OSA) in adults with obesity, marking a significant advancement in treatment options for this condition [3][4][5] Drug Approval and Mechanism - Zepbound is intended to be used alongside a reduced-calorie diet and increased physical activity, which is essential for its effectiveness [3][6] - The drug works by activating receptors of hormones secreted from the intestine (GLP-1 and GIP), similar to other treatments like semaglutide [3][5] Patient Impact and Statistics - Approximately 30 million people in the US suffer from sleep apnea, with obesity being a common contributing factor [6] - Studies indicate that Zepbound leads to a statistically significant reduction in apnea or hypopnea events, with many participants achieving remission or resolution of symptoms [7] Expert Opinions - Experts view the approval as a promising advancement for patients, particularly for those who struggle with traditional therapies like positive airway pressure (PAP) [5] - The drug is seen as a potential generational medication that can help patients lose weight, reduce the severity of sleep apnea, and improve overall health [5]

Apple has asked to participate in Google’s upcoming US antitrust trial over online search, saying it cannot rely on Google to defend revenue-sharing agreements that send the iPhone maker billions of dollars each year for making Google the default search engine on its Safari browser.Apple does not plan to build its own search engine to compete with Alphabet’s Google, whether or not the payments continue, the company’s lawyers said in court papers filed in Washington on Monday. Apple received an estimated $20 ...

Core Points - The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Walmart and Branch Messenger for allegedly forcing over a million delivery drivers to use accounts that incurred more than $10 million in junk fees [5] - The lawsuit claims that Walmart misled drivers about their access to wages, stating they would have instant access, while in reality, they faced delays and fees [4][7] - Walmart and Branch Messenger have denied the allegations, asserting that the CFPB rushed to file the lawsuit without allowing them adequate time to respond [6] Summary by Category Lawsuit Details - The CFPB's lawsuit alleges that Walmart threatened to fire drivers unless they opened Branch accounts without their consent [2] - The agency is seeking to end the alleged conduct, return funds to affected consumers, and impose fines to be paid into the CFPB's victim relief fund [8] Company Responses - Walmart has expressed its intention to vigorously defend itself in court, emphasizing the importance of due process [2][6] - Both Walmart and Branch Messenger have criticized the CFPB for not allowing them time to provide explanations before the lawsuit was filed [6]

Core Viewpoint - The recent surge in Apple shares is driven by investor enthusiasm for artificial intelligence and expectations of a supercycle in iPhone upgrades [1] Group 1: AI Enhancements and iPhone Sales - Apple launched iOS 18.2, a significant update that enhances its Apple Intelligence functions, including Visual Intelligence [2] - The company is expected to see strong iPhone sales during the Christmas shopping season, with positive trends for iPhone 16 upgrades based on supply chain checks [3][8] - Recent AI features, such as Image Playground, are aimed at rejuvenating iPhone sales, which had previously been sluggish [7][9] Group 2: Market Capitalization and Stock Performance - Apple is on track to become the first company to surpass a $4 trillion market capitalization, driven by AI advancements [5] - As of Monday, Apple's stock was trading around $255, reflecting a nearly 40% increase since the beginning of the year [10] - Analysts predict that Apple's stock could exceed $300 per share within the next 12 months, with a market cap surpassing $4 trillion by early 2025 [12] Group 3: Financial Performance - iPhone sales totaled $46.22 billion for the July-September period, marking a 6% increase year-over-year [17] - The company has reversed two consecutive years of declining quarterly iPhone sales, indicating a recovery in demand [12][9] Group 4: Competitive Landscape - Apple has outpaced Nvidia and Microsoft in the race to reach a $4 trillion market cap, aided by a 16% increase in shares since early November [13] - Despite recent stock cooling due to concerns over a new AI chip, Blackwell, the overall outlook remains positive [14]