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Vantage, Our Cruise Company, Went Bankrupt. We Are Out $17,905.
A couple purchased an Arabian Sea voyage, but Vantage, the cruise company, went under. Their travel insurance was supposed to cover financial default, but the claim was repeatedly denied.The New York Times - Business -
UK water companies embrace PFI to deliver £14bn of infrastructure
Ofwat encourages debt-laden utilities to set up entities to deliver reservoirs and pipelinesFinancial Times - World - United Kingdom -
Some A.I. Companies Face a New Accusation: ‘Open Washing’
An accusation against some A.I. companies that they are using the “open source” label too loosely.The New York Times - Business -
Canada Goose jumps 16% after the company reports growth surge in China
Shares of Canada Goose soared 16% on Thursday after the apparel company reported better-than-expected revenue and earnings for its fiscal fourth quarter.CNBC - Business - China -
Water company boss defends multi-million pay packet
The water firm made 60,000 sewage spills last year but insists river quality is improving.BBC News - Top stories -
As Tesla layoffs continue, here are 600 jobs the company cut in California
The latest wave of Tesla layoffs hit an array of departments, impacting factory workers, software developers and robotics engineers. Read the WARN filing here.CNBC - Business - California -
As Tesla layoffs continue, here are 600 jobs the company cut in California
As part of Tesla’s massive restructuring, the electric-vehicle maker notified the California Employment Development Department this week that it’s cutting approximately 600 more employees at its manufacturing facilities and engineering offices ...NBC News - Top stories - California -
GTA Parent Company Explains Why It Just Canceled Games
Take-Two president Karl Slatoff has discussed the company's recent decision to cancel games as part of a wider restructuring effort that also included layoffs. . During an earnings briefing, Slatoff observed that, across the video game industry, ...GameSpot - Tech -
3 Things I've Learned to Do Before Acquiring Another Company
Here's why most acquisitions fail.Inc. - Business -
US companies find borrowing conditions improving as markets rally
Chicago Fed’s index of financial conditions falls to lowest level since January 2022Financial Times - Business -
AI companies seek big profits from ‘small’ language models
Microsoft, Meta and Google have released new versions with fewer ‘parameters’ that are cheaper to build and trainFinancial Times - Business - Artificial Intelligence -
Why Levain Bakery's Co-Founders Let Their Company Rise Slowly
The women behind America's favorite cookie, Pam Weekes and Connie McDonald, have a different view of scaling.Inc. - Business -
Companies are trying to attract more smartphone users across Africa. But there are risks
Internet-enabled phones can play a unique role in sub-Saharan Africa, where infrastructure and public services are among the world’s least developedABC News - Tech -
Airbnb CEO discusses what’s in store for the company ahead of summer travel season
Airbnb CEO Brian Chesky sat down with NBC News’ Hallie Jackson ahead of the busy summer travel season to discuss what’s in store for the company and respond to recent concerns from customers over fees and higher prices.NBC News - Top stories -
UK water companies lash out at ‘labyrinthine’ regulatory system
Industry lobby group criticises Ofwat for ‘slow’ and ‘inflexible’ processes that delay vital infrastructureFinancial Times - Business - United Kingdom -
Even a Fraud Conviction Won't Keep Nikola's Founder Away From the Company
Nikola, the embattled hydrogen-truck maker, wants to put convicted founder Trevor Milton in the rearview mirror. Milton has had other plans.The Wall Street Journal - World -
UL Solutions tops revenue estimates in first quarter as a public company
Profit was flat in the first quarter, but the company is expecting to benefit from the “electrification of everything” trend.MarketWatch - Business -
Damage Control for Tesla as European Leasing Companies React to Falling Fleet Values
Major car rental firms and leasing firms have complained about Tesla's servicing and repairs for years.Inc. - Business -
Are UK boards ‘too hot to trot’ in selling off companies?
More clarity is needed from government on which companies should be protectedFinancial Times - Business - United Kingdom -
First companies sign up to AI safety standards on eve of Seoul summit
Rishi Sunak says 16 international firms have committed, but standards have been criticised for lacking teeth. The first 16 companies have signed up to voluntary artificial intelligence safety standards introduced at the Bletchley Park summit, ...The Guardian - World -
Graceland is not for sale, Elvis Presley's granddaughter Riley Keough says in lawsuit
Elvis Presley’s estate is fighting what it says is a fraudulent scheme to auction off Graceland to the highest bidderABC News - Top stories -
Poultry company allegedly used 'oppressive child labor' at plant: DOL
In a statement to ABC News, Mar-Jac said the minors were hired with documents "that showed they were over 18 years of age."ABC News - Top stories -
Cramer looks at why enterprise and data tech companies are winning: 'Follow the money'
CNBC's Jim Cramer on Tuesday described how consumer-focused companies are suffering as money primarily flows into data-heavy outfits in tech.CNBC - Business -
Too Many Credit Cards? Here's How Visa Plans to Change That
The credit card company plans numerous technological innovationsthat will widen payment options and reduce the number of cards people carry in their wallets.Inc. - Business -
Pro-cannabis advocates in Thailand rally ahead of the government's plan to recriminalize the plant
Dozens of pro-cannabis advocates in Thailand gathered at the health ministry on Thursday to oppose the government’s plan to relist it as narcotics, two years after it was decriminalizedABC News - World -
Putin and Xi announce plans to strengthen military ties in Beijing
Russian leader praises ‘comradely’ talks with Chinese president ahead of concert to mark 75 years of ‘friendship’. . Russia and China have announced they will deepen their already close military ties, as Vladimir Putin met Xi Jinping in Beijing on ...The Guardian - World - China -
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Honda Motor Plans to Invest Over $60 Billion on EV Strategy
The Japanese automaker plans to invest on its electric-vehicle strategy through 2030 as part of efforts to boost sales and production in the coming years.The Wall Street Journal - Business -
Trump Allies Draw Up Plans for Unprecedented Immigration Crackdown
Advisers to the former president are getting a head start on clearing the hurdles they would face.The Wall Street Journal - World - Donald Trump -
China to cut mortgage rates as part of plan to prop up property market
Local authorities will be allowed to turn unsold homes from developers into affordable housing. China will cut mortgage rates and allow local authorities to turn unsold homes from developers into affordable housing, in a series of drastic measures ...The Guardian - World - China -
GameStop Stock Slides on Plans for Share Sale, Weak Revenue
Shares of the videogame maker declined 25% after it said it plans to sell up to 45 million shares. GameStop has 306 million shares outstanding.The Wall Street Journal - World -
Is Hunt right that Labour’s spending plans would leave a £38bn black hole?
Labour criticises a dossier released by the Conservatives that adds up how much their spending commitments would cost.BBC News - Top stories -
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Trump aides plot deportation effort inspired by UK Rwanda plan – report
Wall Street Journal notes that British example may not be a good one, as ‘plan hasn’t gone into effect yet ‘amid legal challenges’. Aides to Donald Trump working to transform US immigration policy should he return to power are pursuing goals ...The Guardian - World - United Kingdom -
New Star Wars Plan: Pentagon Rushes to Counter Threats in Orbit
Citing rapid advances by China and Russia, the United States is building an extensive capacity to fight battles in space.The New York Times - Top stories -
Musk Pushes Plan for China Data to Power Tesla's AI Ambitions
A data center in Chinato teach AI models for self-driving technology using data that could be processed in the countrycould be a big shift for Tesla, or merely a backup plan.Inc. - Business - China -
CURO Group Says Bankruptcy Court Confirms Reorganization Plan
CURO Group Holdings said Friday that its reorganization plan was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division.The Wall Street Journal - World -
German parliament approves plans to relax strict restrictions on family names
The German parliament has approved plans to relax strict restrictions on family names — clearing the way, among other things, for couples to take double-barreled surnames and pass them on to their childrenABC News - World - Germany -
Crypto Lender Genesis Global Gets Wind-Down Plan Approved
A bankruptcy judge approved a chapter 11 wind-down plan for Genesis that will pay back creditors about 77% of the same digital assets that they lent to the cryptocurrency lender before its bankruptcy filing.The Wall Street Journal - World - Crypto -
Gantz threatens to quit Israeli government if no new war plan by June 8
Ultimatum by member of Netanyahu’s war cabinet brings to a head months of internal tensions over GazaFinancial Times - Business - Israel