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The latest business news delivered in a convenient, AD-FREE, easy-to-read stream. Brought to you by News Plexus, a pioneer in sustainable news publishing.

The latest business news delivered in a convenient, AD-FREE, easy-to-read stream. Brought to you by News Plexus, a pioneer in sustainable news publishing.
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NewsPlexus Media November 12, 2019

Ben & Jerry's is facing a lawsuit accusing the ice cream maker and its parent company of false advertising by saying the milk and cream in its products comes from "happy cows."
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NewsPlexus Media November 12, 2019

WeWork to sell MeetUp, cut jobs in 90-day turnaround plan
WeWork said Friday it will divest from several side businesses and cut jobs as part of a 90-day plan to turn itself around following its botched attempt to sell stock on Wall Street. The office-sharing company will divest from five non-core businesses, including Meetup, the online community event organizer that WeWork bought in 2017.
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NewsPlexus Media November 12, 2019

NY regulator vows to investigate Apple Card for sex bias
A New York regulator is investigating Goldman Sachs for possible sex discrimination in the way it sets credit limits. The bank denies wrongdoing. The investigation follows a series of viral tweets by entrepreneur and web developer David Heinemeier Hansson about algorithms used for the Apple Card. Hansson said the card offered him a credit limit 20 times greater than it gave to his wife, even though she has a higher credit score.
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NewsPlexus Media November 7, 2019

McDonald's CEO's ouster reflects trend on workplace romances
Workplace couples are often romanticized — think Bill and Melinda Gates or Michelle and Barack Obama. But when the relationship involves two people with unequal power, it can also be fraught with peril, especially in the #MeToo era. McDonald's CEO Steve Easterbrook is only the latest chief executive to be ousted over a consensual relationship with an employee. Increasingly, U.S. companies are adopting policies addressing workplace romances, a trend that began well before the #MeToo movement galvanized a national conversation surrounding sexual misconduct.
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NewsPlexus Media November 7, 2019

US business sees dwindling prospects in Cuba
The Havana International Trade Fair is where Cuba puts the best face on its struggling economy. There are state-run restaurants stocked with fresh food; shiny displays of electric motorcycles from traders in Panama; dozens of Cuban government companies offering goods from cigars to farmed shrimp. One dark spot this year was the American section, where the U.S. presence has shrunk from dozens of companies during the Obama administration to a handful today.
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NewsPlexus Media November 7, 2019

Airbnb to verify all 7 million properties to improve trust
Airbnb says it will spend the next year verifying that all 7 million of its listings are accurate and that the homes and rooms being offered for short-term stays meet basic quality standards. It's one of several moves the San Francisco-based company is making to improve user trust and make it easier for guests, hosts and others to report problems and obtain refunds when things go awry. The changes come after a rough week for Airbnb.
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NewsPlexus Media November 7, 2019

HP says it has received a 'proposal' from Xerox
Computer and printer maker HP Inc. said Wednesday it had received a "proposal" from copier maker Xerox and has had conversations "from time to time" with the company about a potential business combination.
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NewsPlexus Media November 7, 2019

Hawaii may subpoena Airbnb for tax records of rental hosts
A judge ruled Wednesday that Hawaii tax authorities may subpoena Airbnb for records of its hosts as the state investigates whether operators of vacation rentals have been paying their taxes. First Circuit Court Judge Bert Ayabe approved the subpoena after a brief hearing. Airbnb and the state Department of Taxation have already agreed which records the company will provide: those of 1,000 Hawaii hosts who received the most revenue from 2016 through 2018.
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NewsPlexus Media November 6, 2019

Fitbit buy is Google's latest step into gadgetry
Google's acquisition of wearable pioneer Fitbit may be a bold plunge into health and fitness technology. But it's also just the latest step in the internet giant's often-halting effort to become a force in consumer hardware. Once a pure software company known for its search engine, apps like Gmail and its Android software for smartphones, Google has for the last several years been building out its own suite of hardware products.
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NewsPlexus Media November 6, 2019

McDonald's CEO pushed out after relationship with employee
McDonald's chief executive officer has been pushed out of the company after violating company policy by engaging in a consensual relationship with an employee, the corporation said Sunday. The fast food giant said former president and CEO Steve Easterbrook demonstrated poor judgment, and that McDonald's forbids managers from having romantic relationships with direct or indirect subordinates.
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NewsPlexus Media November 6, 2019

Krispy Kreme orders student to halt doughnut resale service
An enterprising Minnesota college student who drove to Iowa every weekend to buy hundreds of Krispy Kreme doughnuts that he then sold to his own customers in the Twin Cities area has been warned by the confectionary giant to stop.
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NewsPlexus Media November 1, 2019

Former Juul exec alleges company shipped tainted products
A Juul Labs executive who was fired earlier this year is alleging that the vaping company knowingly shipped 1 million tainted nicotine pods to customers. The allegation comes in a lawsuit filed Tuesday by lawyers representing Siddharth Breja, a one-time finance executive at the e-cigarette maker. The suit claims that Breja was terminated after opposing company practices, including shipping the contaminated flavored pods and not listing expiration dates on Juul products.
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NewsPlexus Media November 1, 2019

Apple shakes off iPhone slump to deliver strong fiscal 4Q
Apple is still running a well-oiled moneymaking machine despite cooling demand for its hottest product, the iPhone. Sales and revenue in the July-September quarter exceeded Wall Street estimates as Apple's newest iPhones got off to a better start than expected, even though the devices aren't that much different from last year's models.
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NewsPlexus Media November 1, 2019

New drinks help Starbucks pull in more US, Chinese customers
Starbucks Corp. says new beverages and more efficient stores are drawing in more U.S. and Chinese customers, turning around the weaker traffic it saw at the start of the year. The company rolled out popular new drinks, like nitro cold brew and pumpkin cream cold brew, to all U.S. stores in its fiscal fourth quarter. In China, where mobile orders and delivery now make up 10% of its business, it opened new express stores to speed orders.
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NewsPlexus Media November 1, 2019

Amazon drops monthly fee to boost grocery delivery sales
Amazon said Tuesday it will no longer charge $15 a month for its Amazon Fresh service, which delivers raw meat, vegetables and other groceries to customers' doorsteps. But the service is only for subscribers of its Prime membership, which costs $119 a year.
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NewsPlexus Media October 30, 2019

Sony shutting down online-cable service PlayStation Vue
Sony is shutting down its pioneering online-cable alternative, PlayStation Vue, citing the high cost of content and the difficulty of reaching deals with networks. It launched Vue in early 2015 as a skinnier, cheaper version of cable or satellite TV delivered via the internet.
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NewsPlexus Media October 30, 2019

Grubhub's stock plunges as food delivery competition grows
Shares in Grubhub plunged 43% Tuesday after it sharply cut its revenue expectations for the year and warned of intense competition. The steep decline in share price wiped away more than $2.3 billion of the company's stock market valuation. It is the worst single-day decline for shares since the company went public almost six years ago.
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NewsPlexus Media October 30, 2019

Amazon hopes $1.5 mil elects pro-business Seattle leaders
Seven of the nine Seattle City Council seats are up for grabs in next month's election, where retail giant Amazon has made unprecedented donations totaling $1.5 million to a political action committee that's supporting a slate of candidates perceived to be friendlier to business.
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NewsPlexus Media October 30, 2019

Walgreens to shutter in-store clinics, add Jenny Craig sites
Walgreens will shutter nearly 40% of the clinics in its stores as the drugstore chain cuts costs and shifts to other businesses it believes will draw more people through its doors. The company said Monday that it will close 150 Walgreens-run clinics by the end of the year, but it will keep open more than 200 that are run in partnership with health care providers. The chain also is working on partnerships with other companies like the grocer Kroger Co. to improve its food offerings. Walgreens said Monday that it also will open 100 locations for the weight-loss company Jenny Craig at stores nationwide.
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NewsPlexus Media October 30, 2019

Massive American Dream mall opens but will shoppers come?
More than two decades ago when a mega entertainment and shopping complex was being conceived on a vast swath of swamp land in New Jersey, the iPhone didn't exist, Amazon was only selling books online and malls were where you went for all your shopping needs. Now, after endless fits and starts and billions of dollars spent, American Dream is officially opening its doors to the public as the second largest mall in the country, and third largest in North America.
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NewsPlexus Media October 28, 2019

Google claims breakthrough in blazingly fast computing
Google announced Wednesday it has achieved a breakthrough in quantum computing, saying it has developed an experimental processor that took just minutes to complete a calculation that would take the world's best supercomputer thousands of years. The feat could open the door some day to machines so blazingly fast that they could revolutionize such tasks as finding new medicines, developing vastly smarter artificial intelligence systems and, most ominously, cracking the encryption that protects some of the world's most closely guarded secrets.
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NewsPlexus Media October 25, 2019

Microsoft racks up more cloud customers
Microsoft on Wednesday reported its latest solid quarterly report card to Wall Street, buoyed by another round of business customers signing up for its cloud computing services. The company reported fiscal first-quarter profit of $10.7 billion, up 21% from the same period last year.
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NewsPlexus Media October 25, 2019

Iconic AmEx 'Green Card' turns 50, gets a needed revamp
For 50 years, the American Express "Green Card" has been the card many people wouldn't leave home without. Launched in 1969, the Green Card gave travelers a sense of importance they didn't feel carrying travelers' cheques. For many people, it was their first AmEx card. Over time, however, the Green Card became neglected in favor of its fancier siblings, the Gold and Platinum Cards. Now, the Green Card is getting a much-needed revamp, with a new look and more travel benefits — and, yes, a higher annual fee.
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NewsPlexus Media October 25, 2019

Amazon's profit falls as costs for faster shipping soar
Amazon's push for faster delivery is hurting its profits. The online retailer said its third-quarter net income fell 26% from a year ago, missing Wall Street expectations. Its sales outlook for the holiday shopping season also disappointed analysts, and its stock sank 7% in after-hours trading.
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NewsPlexus Media October 25, 2019

For toymaker Hasbro, trade wars are no fun
Shares of Hasbro plunged Tuesday after the company revealed that the trade war is wreaking havoc on its supply chain and creating confusion among customers for its toys. The company said price hikes may be on the way for consumers as it offsets rising costs.
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NewsPlexus Media October 23, 2019

New restaurants show meat-free Mexican is not a carne sin
"That's not real Mexican food," ''My grandma would slap you" and "sellout" are just some of comments Jose and Leticia Gamiz received when they started their pop-up vegan Mexican food business, Mi Vegana Madre, four years ago. People saw them doing something new and took it personally, Jose Gamiz said. "We even had somebody write (online) in Spanish, 'They're probably not even Mexican.'"
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NewsPlexus Media October 23, 2019

Report: Women company owners say they're not taken seriously
Women business owners can find it hard to be taken seriously even as their companies grow into multimillion-dollar enterprises. That's the finding of a report released last week by Babson College and Bank of America that analyzed the challenges women encountered as they were building their companies.
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NewsPlexus Media October 23, 2019

Facebook ramps up election security efforts ahead of 2020
With just over a year left until the 2020 U.S. presidential election, Facebook is stepping up its efforts to ensure it is not used as a tool to interfere in politics and democracies around the world. The efforts outlined Monday include a special security tool for elected officials and candidates that monitors their accounts for hacking attempts such as login attempts from unusual locations or unverified devices.
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NewsPlexus Media October 22, 2019

Despair in Burgundy and beyond, as US tariffs hit EU goods
French vintners are begging for government aid. Italian farmers are scrambling for new export markets. And American shoppers are about to face supermarket sticker shock on European products. That's because some $7.5 billion in U.S. tariffs on European food, wine and other goods took effect Friday, in response to illegal EU subsidies to planemaker Airbus.
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NewsPlexus Media October 22, 2019

Google affiliate begins drone deliveries in Virginia town
A Google affiliate started using drones Friday to deliver customers' Walgreens and FedEx purchases in a test being run in a Virginia town. Wing, which is owned by Google parent Alphabet, received federal approval earlier this year to make commercial deliveries by drone. It was the first drone company to receive the approval in the U.S., beating out Amazon's Prime Air, which revealed its drone plans in 2013.
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NewsPlexus Media October 20, 2019

California unemployment rate falls to record low of 4%
California's economy kept humming in September, dropping the unemployment rate to a record low 4% statewide and under 2% in San Francisco and some of its neighboring counties, a level that economists once thought impossible. "That is almost unthinkable," said Sung Won Sohn, professor of economics at Loyola Marymount University. "It flies in the face of economic theory."
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NewsPlexus Media October 18, 2019

Netflix heads into showdown with slowing subscriber growth
Netflix's subscriber growth is bogging down even before the leading video streaming service confronts high-powered threats from Apple and Walt Disney Co. The latest sign of the challenges the company is facing emerged Wednesday with the release of its third-quarter results. The numbers provided further evidence that Netflix's salad days may be over, particularly in the U.S., where most households that want its 12-year-old streaming service already have it.
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NewsPlexus Media October 18, 2019

J&J agrees to $117M settlement over pelvic mesh devices
Johnson & Johnson has agreed to a $117 million multistate settlement over allegations it deceptively marketed its pelvic mesh products, which support women's sagging pelvic organs. Ohio's attorney general said Thursday an investigation found that J&J, the world's biggest health products maker, violated state consumer protection laws by not fully disclosing the devices' risks.
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NewsPlexus Media October 18, 2019

Juul halts sales of fruit, dessert flavors for e-cigarettes
Juul Labs stopped selling fruit and dessert flavors Thursday, acknowledging the public's "lack of trust" in the vaping industry. The voluntary step is the company's latest attempt to weather a growing political backlash that blames its flavored-nicotine products for hooking a generation of teenagers on electronic cigarettes.
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NewsPlexus Media October 18, 2019

'Totally avoidable': 3 firms fined in Seattle crane collapse
Washington state on Thursday fined three companies for their roles in a crane collapse that killed four people in Seattle last April, with officials calling it "totally avoidable," and Seattle Police confirmed that they have opened a criminal investigation. The Department of Labor and Industries released the results of its investigation Thursday. It found, as experts suspected, that the crane toppled in a wind gust because the workers who were disassembling it prematurely removed pins securing sections of the crane's mast, contrary to the manufacturer's instructions.
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NewsPlexus Media October 16, 2019

Despite defections, Facebook officially launches Libra
Facebook officially moved forward with its plans Monday to create a new digital currency called Libra, despite several high-profile defections from the project and intense criticism from U.S. regulators and politicians. The Libra Association, the nonprofit that will govern the currency, officially signed on 21 charter members on Monday at the organization's inaugural meeting in Geneva.
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NewsPlexus Media October 16, 2019

End in sight? GM CEO Barra joins talks with striking union
General Motors CEO Mary Barra joined negotiators at the bargaining table, an indication that a deal may be near to end a monthlong strike by the United Auto Workers union that has paralyzed the company's factories. Barra and GM President Mark Reuss were in the bargaining room early Tuesday, a person briefed on the talks said, but they left later in the morning as committees began work on specific contract language. The person didn't want to be identified because the talks are confidential.
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NewsPlexus Media October 16, 2019

Google touts privacy options, but still depends on your data
Google's latest phone and smart-home devices came packaged with a not-so-subtle message: Google cares about your privacy. Does it? The tech company has had a complicated relationship with user information in the past. Google's latest steps offer consumers some additional protections, although it's unclear how much more secure users will feel.
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NewsPlexus Media October 16, 2019

US consumers snap up Italian Parmesan before tariffs hit
U.S. consumers who appreciate the tang of aged Italian Parmesan cheese as an aperitif or atop their favorite pasta dish are stocking up ahead of next week's tariff hike and as dairy producers in the two countries square off. The Italian agricultural lobby Coldiretti said Friday that sales of both Parmigiano Reggiano and Grana Padano, aged cheeses with a distinctive granular quality that are defined by their territory of origin, have skyrocketed in the United States by 220% since the higher tariffs were announed.
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NewsPlexus Media October 14, 2019

Visa, Mastercard shun Facebook's Libra digital currency plan
Visa and Mastercard on Friday announced their departure from Facebook's Libra project, a major setback to the social network's plan for a worldwide digital currency. Along with the two payment giants, several other large companies have said they're exiting Libra. Payment processing company Stripe is stepping back, as well as e-commerce company eBay.
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NewsPlexus Media October 14, 2019

Boeing, FAA both faulted in certification of the 737 Max
A panel of international aviation regulators found that Boeing withheld key information about the 737 Max from pilots and regulators, and the Federal Aviation Administration lacked the expertise to understand an automated flight system implicated in two deadly crashes of Max jets. In its report issued Friday, the panel made 12 recommendations for improving the FAA's certification of new aircraft, including more emphasis on understanding how pilots will handle the increasing amount of automation driving modern planes.
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NewsPlexus Media October 12, 2019

Legos lying around? Toy maker tests way to recycle bricks
Lego is looking to keep its plastic bricks out of the trash. The Danish toymaker is testing a way for customers to ship their unwanted bricks back and get them into the hands of other kids.
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NewsPlexus Media October 12, 2019

Parent of Toys R Us teams up with Target to power online biz
The parent company of Toys R Us is turning to a key rival to restart its e-commerce business ahead of the holiday shopping season. Tru Kids Brands is teaming up with discounter Target Corp. to relaunch Toysrus.com, according to a joint release. The site, which launched Tuesday, features product reviews and videos and directs browsers to a buy button at Target.com to complete the purchase.
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NewsPlexus Media October 12, 2019

Boeing to invest $20 million in Virgin Galactic
Boeing plans to invest $20 million in Virgin Galactic, looking at possibilities beyond the space tourism company's immediate goal of launching passengers on suborbital flights as early as next year. The companies announced the investment Tuesday, saying they will work together on broadening commercial access to space and transforming global travel technologies.
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NewsPlexus Media October 12, 2019

MedMen's ends blockbuster deal adding to cannabis stock woes
Marijuana stocks have come down hard from their highs a year ago, and the skid isn't just spooking investors. On Tuesday, MedMen Enterprises Inc., which sells legal cannabis in California and 11 other states, backed out of a blockbuster deal to buy PharmaCann, a Chicago-based marijuana company with operations in eight states.
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NewsPlexus Media October 12, 2019

Court hears case on paternity leave at Japanese brokerage
A Tokyo court held a hearing Wednesday into the case of a former brokerage manager who says he was forced from his job for taking paternity leave. Canadian Glen Wood wants to get back his former position of equity sales manager at brokerage giant Mitsubishi UFJ Morgan Stanley. He sued the company last year, alleging he was harassed and forced from his job after taking a legally allowed paternity leave when his son was born in 2015.
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NewsPlexus Media October 10, 2019

US job openings slip 1.7% in August as labor market slows
U.S. job openings fell 1.7% in August and hires edged down, bolstering views that the labor market may lose momentum as economic uncertainty and a manufacturing recession squeeze employers. The Labor Department says employers advertised 7.1 million available jobs in August, down from 7.2 million available jobs in July.
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NewsPlexus Media October 10, 2019

US nuclear, uranium mining industries hope for Trump bailout
A plea from uranium mining companies and nuclear power plant operators for tax breaks and other federal financial boosts is going before President Donald Trump, as his administration studies reviving the U.S. uranium industry in the name of national security. Trump is scheduled to receive recommendations Thursday from a task force of national security, military and other federal officials about ways to revive U.S. uranium mining, which has lagged against global competition amid low uranium ore prices.
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NewsPlexus Media October 10, 2019

Bed Bath & Beyond taps former Target exec to be new CEO
Struggling home goods chain Bed Bath & Beyond has named Target's former chief merchandising officer to be its new CEO and president.
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NewsPlexus Media October 8, 2019

Facebook to settle advertiser lawsuit for $40 million
Facebook has agreed to pay $40 million to advertisers who said it inflated the amount of time its users watched videos.
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