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 ...

Tesla will face a 9% levy on its Chinese-made cars exported to the EU, the European Commission has said, as it issued an update on its sweeping investigation into Beijing’s “unfair” subsidies of electric vehicles.The tariff on Tesla – far lower than the 21.3% average on companies that cooperated with the EU investigation and 36.3% on those that did not – came after the California-headquartered firm requested individual treatment as part of the wider Brussels inquiry.The levies – far lower than the 100% tari ...

Meta is struggling with moderating content related to the Israel-Palestine war, particularly in Hebrew, despite recent changes to internal policies, new documents have revealed.Internal policy guidelines shared with the Guardian by a former Meta employee who worked on content moderation outline a multilayered process for moderating content related to the conflict. But the documents indicate Meta, which owns the platforms Facebook, Instagram and WhatsApp, does not have the same processes in place to gauge th ...

A week after a judge ruled the tech giant illegally monopolized the online search market, the US Department of Justice is considering options that include breaking up Alphabet’s Google, worth some $2tn, according to reports from the New York Times and Bloomberg News.Divesting the Android operating system was one of the remedies most frequently discussed by justice department attorneys, the reports said.Officials were also considering trying to force a possible sale of AdWords, Google’s search ad program, an ...

Amazon has argued the country’s top labor watchdog is violating the constitution as the company fights to dismiss unfair labor practice charges, leaning on a recent conservative US supreme court ruling.In a filing last month, attorneys representing the technology giant pushed back against a complaint issued by the National Labor Relations Board (NLRB) after two Georgia workers alleged that they faced retaliation, surveillance and interrogation after exercising their right to organize.The workers, based at t ...

Group 1 - Apple has changed its policy in the European Union to allow developers to communicate with customers outside its App Store after being charged for breaching tech rules [1] - Developers can now promote offers available anywhere from within their app, not just on their own website [1] - Apple will introduce two new fees: a 5% acquisition fee for new users and a 10% store services fee for sales made by app users within 12 months of app installation [1] Group 2 - Apple currently charges three types of fees, including a core technology fee for less than 1% of apps and a reduced commission for digital goods sold through the App Store [2] - The new fees will replace the reduced commission for digital goods and services sold through the App Store [2] - Spotify has criticized Apple's proposal, stating that the fees for communication with users disregard the requirements of the Digital Markets Act [2] Group 3 - The charge against Apple is the first under the Digital Markets Act, which aims to limit the power of big tech companies [3] - Violations of the Digital Markets Act could result in fines of up to 10% of a company's global annual turnover [3]

Google lost its landmark antitrust case against the US Department of Justice this week after a federal judge ruled the tech giant had built an illegal monopoly over the online search and advertising industry. The decision will probably have immense implications for both Google’s internal operations and how people interact with the most popular page on the internet.Judge Amit Mehta’s ruling specifically found that Google broke antitrust laws by striking exclusive agreements with device makers like Apple and ...

The vacation rental company Airbnb forecast third-quarter revenue below Wall Street estimates on Tuesday and reported a lower second-quarter profit, as it flagged weakening demand from US customers.Shares of the company were down about 12% after the bell.Domestic travel in the United States has been pressured since the start of the year as more Americans grow cautious about travel spending amid growing economic uncertainty.The San Francisco-based company reported quarterly profit of $555m compared to $650m ...

Magnificent Seven Performance and AI Investment Concerns - The Magnificent Seven (Microsoft, Amazon, Apple, Nvidia, Alphabet, Meta, Tesla) accounted for half the gains in the S&P 500 last year but have entered correction territory, with combined share prices falling over 10% since their peak on 10 July [1] - Concerns about the return on AI investments, mixed quarterly results, and weak US economic data have contributed to the decline [1] - The group has been hit by doubts over whether the $1tn investment in AI over the next few years will pay off, with estimates suggesting tech companies need to earn $600bn to cover AI investments [2] Sector Rotation and Market Impact - Investor expectations of a Federal Reserve rate cut have shifted focus to smaller businesses, banks, and real estate firms, leading to sector rotation [3] - The concentration of the Magnificent Seven in the S&P 500 means their performance significantly impacts the broader market [3] Quarterly Results and Valuations - Microsoft's cloud computing division reported lower-than-expected growth, while Amazon's cloud growth was offset by higher AI infrastructure spending [4] - Meta's shares rose due to strong revenue growth, and Apple beat sales expectations [4] - Tech valuations reached 20-year highs, leading to a market pullback [6] AI Breakthroughs and Revenue Challenges - More AI breakthroughs are expected, with companies like Google DeepMind setting new records in AI performance [7] - The cost of frontier AI training runs has increased tenfold annually, raising questions about long-term financing for even well-capitalized companies like OpenAI [8] - Generative AI has seen bottom-up success in improving efficiency, but corporate-level success stories remain limited [9][10]