A federal judge ruled on Monday that a class action lawsuit alleging that Burger King falsely advertised the size of its signature cheeseburger can move forward. U.S. District Judge Roy K. Altman in Florida found ‘some’ merit to the plaintiff’s argument that the fast food chain advertised its Whopper cheeseburger and other menu items to appear bigger than they are. ...
Amazon’s Zoox issued a software recall for 270 of its robotaxis after a crash in Las Vegas last month, the company said Tuesday. The recall surrounds a defect with the vehicle’s automated driving system that could cause it to inaccurately predict the movement of another car, increasing “the risk of a crash,” according to a report submitted to the National Highway Traffic ...
U.S. pharmacy chain Rite Aid on Monday filed for bankruptcy protection for the second time in as many years, according to a court filing. Pharmacy chains, such as Rite Aid, Walgreens and CVS, have been under pressure as falling drug margins and competition from Walmart and Amazon have led to a closure of hundreds of stores. Walgreens, facing significant losses, recently agreed ...
Footwear giant Skechers has agreed to be acquired by private equity firm 3G Capital for $63 per share, ending its nearly three-decade run as a public company, the retailer announced Monday. The price 3G Capital agreed to pay represents a 30% premium to Skechers’ current valuation on the public markets, which is in line with similar takeover deals. Shares of Skechers soared ...
Chinese bargain retailer Temu changed its business model in the U.S. as the Trump administration’s new rules on low-value shipments took effect Friday. In recent days, Temu has abruptly shifted its website and app to only display listings for products shipped from U.S.-based warehouses. Items shipped directly from China, which previously blanketed the site, are now labeled as out of stock. Temu made ...
Netflix is on a winning streak. The streaming giant’s stock has traded for 11 straight days without a decline, the company’s longest positive run ever. Its previous record was a nine-day stretch in late 2018 and early 2019 when the stock traded up for four days, was unchanged for a day and then traded positively for another four days. The stock ...
Amazon founder Jeff Bezos plans to sell up to 25 million shares in the company over the next year, according to a financial filing on Friday. Bezos, who stepped down as CEO in 2021 but remains Amazon’s top shareholder, is selling the shares as part of a trading plan adopted on March 4, the filing states. The stake would be worth about $4.8 billion ...