More than 7,000 workers at CVS stores across California are holding a strike vote this week after accusing the US’s largest pharmacy chain of shortchanging staff and failing to provide affordable healthcare.CVS and its union remain far apart in negotiations on a new contract. Their current union contract expired on 30 June 2024.The union said the average CVS clerk makes less than $20 an hour, and the union wants improved healthcare costs for employees, and improvements to safety and staffing.The United Food ...

Boeing’s CEO said on Wednesday that the company would begin furloughing “a large number” of employees to conserve cash during the strike by union machinists that began last week.The chief executive, Kelly Ortberg, said the layoffs would be temporary and affect executives, managers and other employees.About 33,000 Boeing factory workers in the Pacific north-west began a strike on Friday after rejecting a proposal to raise pay by 25% over four years. They want raises of at least 40% and other improvements in ...

Amazon said on Monday it would require employees to return to the office five days a week, effective 2 January.“We’ve decided that we’re going to return to being in the office the way we were before the onset of COVID. When we look back over the last five years, we continue to believe that the advantages of being together in the office are significant,” Andy Jassy, the CEO, said in a note to employees.The e-commerce giant’s previous office attendance requirement for its workers was three days a week. Amazon ...

Boeing is freezing recruitment and drawing up plans to furlough “many” employees as the aerospace giant scrambles to curb spending after tens of thousands of its workers went out on strike.Warning that the industrial action “jeopardizes our recovery in a significant way”, the US planemaker said it would pause most employee travel and suspend non-essential capital expenditures.About 33,000 Boeing workers walked off the job early on Friday after voting overwhelmingly to strike for higher pay. The company’s ne ...

A second antitrust trial pitting Google against the US Department of Justice begins on 9 September, with a federal judge in Virginia to hear arguments over whether the tech giant illegally monopolized the digital advertising industry. The case could have far-reaching implications for Google’s primary source of revenue as well as the tech industry and online publishers.The long-awaited trial is the second major US antitrust suit against Google, after the company lost a landmark case last month that determine ...

Shares in the AI chip designer Nvidia have continued to slide overnight after a report said US authorities were ramping up an investigation into whether the company had breached competition laws.The company’s shares fell 2.4% in after-hours trading, exacerbating a near-10% drop in the regular trading session that slashed its value by $279bn (£212bn) to $2.6tn, marking the largest one-day drop in history for a US company.Overnight, the US Department of Justice sent subpoenas to Nvidia and other tech companie ...

Shares in the chip designer Nvidia have fallen after investors were spooked by signs of slowing growth and production issues, despite the artificial intelligence company posting a doubling of quarterly sales.The Silicon Valley company posted a 122% rise in second-quarter revenues to $30bn (£23bn) compared with the same period last year. While that beat average analyst estimates of $28.7bn, investors were spooked by signs of a slowdown in growth, particularly around its next-generation AI chips, code-named B ...

Chipmaker Nvidia reported its latest financial results on Wednesday, recording $30.04bn in revenue over the past three months – a 122% jump from the year prior – and showing that artificial intelligence investment mania shows no signs of cooling.The importance of Nvidia’s earnings results to Wall Street can hardly be overestimated – the company represents 6% of the total value of the S&P 500, currently the third most valuable company in the world by market capitalization at $3.1tn.The index has gained 27% o ...

Tesla has issued a recall for about 9,100 Model X sports utility vehicles in the US over a trim on the roof that could separate, it said on Wednesday, its second over the same issue since 2020.Front and center roof cosmetic trim pieces may be adhered without primer and could separate from the vehicle creating a road hazard and increasing the risk of a crash, the National Highway Traffic Safety Administration said.The recall covers 2016 model year Model X SUVs. The electric vehicle maker said a change in pro ...

Disney has dropped a controversial legal claim that the terms and conditions a widower agreed to when signing up for Disney+ streaming service protect it from a wrongful death lawsuit he brought over his wife’s death after she ate at a resort restaurant.On Monday night, Josh D’Amaro, the chair of Disney Experiences, released a statement announcing that Disney had decided to have the matter proceed in court, rather than through arbitration, as the company had been fighting for just last week.“At Disney, we s ...