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☆ Target says Pride collection will appear in 'select' stores, cuts LGBTQ apparel for kids
▼ + stars: | 2024-05-10 | by ( Rob Wile | Matt Lavietes | ) www.cnbc.com time to read: +2 min

A customer walks by a Pride Month merchandise display at a Target store on May 31, 2023 in San Francisco, California. Target will limit which stores sell LGBTQ-themed products following last year's firestorm over its decision to sell products designed for transgender people. It added that in addition to selling LGBTQ-themed home and food and beverage items, apparel from its Pride collection this year will be tailored to adults. No Pride apparel for children will be sold. The latest decision, first reported by Bloomberg News, represents a change from offering the products in all Target stores, as the company has done in previous years.

Organizations: Pride, Bloomberg News, Pride Month, Target Locations: San Francisco , California, Target

☆ Biden administration to require advanced safety tech on all new cars and trucks
▼ + stars: | 2024-04-30 | by ( Rob Wile | Tom Costello | ) www.cnbc.com time to read: +3 min

The Biden administration plans to require that all new cars and trucks come with pedestrian-collision avoidance systems that include automatic emergency braking technology by the end of the decade. They will also require braking at up to 45 mph when a pedestrian is detected. Automatic emergency braking "prevents collisions. It said that technologies like automatic emergency braking have proven "game changing" and that automakers have voluntarily committed to install them on new vehicles. Buttigieg acknowledged the technology is still being perfected — one reason the requirement won't take effect until the end of 2029.

Persons: Biden, Pete Buttigieg, Buttigieg, hadn't, Kathleen Rizk, Power's, Rizk Organizations: U.S ., Transportation Department, Alliance for Automotive Innovation, Governors Highway Safety Association, Research, Consumers, Drivers Locations: San Francisco , California

Federal authorities say a "critical safety gap" in Tesla 's Autopilot system contributed to at least 467 collisions, 13 resulting in fatalities and "many others" resulting in serious injuries. The findings come from a National Highway Traffic Safety Administration analysis of 956 crashes in which Tesla Autopilot was thought to have been in use. Tesla's Autopilot design has "led to foreseeable misuse and avoidable crashes," the NHTSA report said. The agency also said it was opening a new probe into the effectiveness of a software update Tesla previously issued as part of a recall in December. "People are dying due to misplaced confidence in Tesla Autopilot capabilities.

Persons: Tesla, Lars Moravy, Edward J, Markey, Richard Blumenthal, Conn, Walter Huang, Elon Musk, Musk, Philip Koopman, Koopman Organizations: Tesla, Traffic, NHTSA, CNBC, NBC News, Apple, Carnegie Mellon University Locations: U.S, Mountain View , California, Snohomish County , Washington, Sens

☆ Consumer advocates — and even some Realtors — hail NAR settlement: 'We've opened up the entire industry to competition'
▼ + stars: | 2024-03-24 | by ( Rob Wile | ) www.cnbc.com time to read: +6 min

Now, a landmark settlement with the National Association of Realtors is poised to upend this model. According to consumer advocates, and even some Realtors, it's a win for homebuyers and sellers. And in the months following Covid-19 pandemic reopenings, the hottest U.S. real estate markets were tipped squarely in favor of sellers. It's the same amount of money, but now the buyer gets money instead of a buyer agent, and they can decide what to do with it." What's more, greater competition for clients is likely to result in lower costs across the board, said Ryan Tomasello, a real estate industry analyst with the Keefe, Bruyette & Woods financial firm.

Persons: it's, Mariya Letdin, Letdin, they'll, Doug Miller, Miller, Ryan Tomasello, Keefe, Tomasello, Phil Crescenzo Jr, Crescenzo Organizations: National Association of Realtors, Realtors, homebuyers, Florida State University's College of Business, NBC News, U.S, NAR, Nation One Mortgage Corp Locations: Alhambra , California, Minnesota, Woods

☆ Home buyers and sellers to be spared automatic broker commissions under $418 million settlement
▼ + stars: | 2024-03-15 | by ( Rob Wile | ) www.cnbc.com time to read: +3 min

The National Association of Realtors has agreed to a landmark settlement that would eliminate real estate brokers' long-standing automatic commissions, commonly of up to 6% of the purchase price. Instead, home buyers and sellers would be able to negotiate fees with their agents upfront. If the $418 million legal agreement is approved by a federal court, consumer advocates predict the ranks of real estate agents will thin, further driving down commission prices. "For years, anti-competitive rules in the real estate industry have financially harmed millions," said Benjamin Brown, managing partner at the Cohen Milstein law firm and one of the settlement's negotiators. "It's a bribe," Doug Miller, an attorney and longtime consumer advocate in the real estate industry, said of the commission-splitting arrangements.

Persons: Benjamin Brown, Cohen Milstein, Nykia Wright, Wright, —, Doug Miller Organizations: National Association of Realtors, NAR, MLS

☆ Target to limit self-checkout to 10 items or fewer as Walmart also adjusts
▼ + stars: | 2024-03-15 | by ( Rob Wile | ) www.cnbc.com time to read: +2 min

Target is set to limit the number of items that can be purchased in its self-checkout lanes to 10 items or fewer. Some self-checkout lanes may also close entirely at certain hours depending on foot traffic patterns, it said. Target said it would be also be opening more traditional lanes staffed by team members. Customers at certain Walmart locations may start to notice changes to self-checkout lanes. As the number of shoppers and associate staffing increases, these stores open self-checkout registers to manage the increased customer flow.

Persons: I'm, Brian Cornell Organizations: CNBC, Walmart Locations: Queens , New York

☆ Boeing failed to retain security camera footage showing work on Max jet door that blew out, NTSB says
▼ + stars: | 2024-03-13 | by ( Rob Wile | ) www.cnbc.com time to read: +3 min

Security camera footage showing work being done on a Boeing Max 9 door plug that later blew out mid-air has been overwritten, the head of the National Transportation Safety Board said. "Boeing has informed us that they are unable to find the records documenting this work." She continued: "A verbal request was made by our investigators for security camera footage to help obtain this information; however, they were informed the footage was overwritten. A Boeing spokesperson said the company, like many others, does not retain security footage for longer than 30 days. The Alaska Airlines plane in question was in the factory last year in September and delivered in October.

Persons: Jennifer Homendy, Homendy, Dave Calhoun, Calhoun, John Barnett, Max, Bob Jordan Organizations: Alaska Airlines Flight, Boeing, National Transportation Safety Board, Boeing Max, National Transportation Safety, Commerce, Science, Alaska Airlines, NBC News, Journal, U.S . Department of Justice, South, The New York Times, United Airlines, Southwest, JPMorgan, CNBC Locations: Alaska, Portland , Oregon, U.S, South Carolina, Barnett's

☆ Mass layoffs hit Sports Illustrated staff
▼ + stars: | 2024-01-19 | by ( Rob Wile | ) www.cnbc.com time to read: +2 min

The publisher of Sports Illustrated is laying off much of the storied magazine's entire staff. The news, first reported by Front Office Sports, came less than 24 hours after publisher The Arena Group announced "a significant reduction in its workforce," comprising 100 employees. According to FOS, Sports Illustrated's parent company, Authentic Brands Group, has sought to revoke Arena's license to publish SI after Arena missed a payment. The union representing SI's staff said in a tweeted statement that it had been notified of Arena's intention to "lay off a significant number, possibly all" of its union-represented staff. "This is another difficult day in what has been a difficult four years for Sports Illustrated under Arena Group (previously The Maven) stewardship," the union said in a statement.

Persons: Richard Deitsch, Long, Ross Levinsohn, Manoj Bhargava, Bhargava Organizations: Sports Illustrated, Front Office Sports, Arena, Authentic Brands, The, Arena Group, SI, Authentic Brands Group, NBC News, Time Inc, Meredith Corp, Better Homes, Gardens, Sports, Innovations Ventures, Men's, Sports Illustrated Resorts Locations: Dominican Republic

☆ Etsy warns sellers of delay in processing payments due to Silicon Valley Bank collapse
▼ + stars: | 2023-03-11 | by ( Rob Wile | ) www.cnbc.com time to read: +3 min

Etsy is warning sellers that the collapse of Silicon Valley Bank on Friday is causing delays in processing payments, according to an email from the company shared with NBC News. "We wanted to let you know that there is a delay with your deposit that was scheduled for today," the email from Etsy said. "Please know that our teams are working hard to resolve this issue and send you your funds as quickly as possible." One affected Etsy seller told NBC News the deposits delay would have a "catastrophic" effect on his business. The FDIC has formed a separate entity where all insured SVB deposits — up to $250,000 per depositor — will be available by Monday morning.

☆ Florida to place leadership of Disney's special operating district under DeSantis' control
▼ + stars: | 2023-02-10 | by ( Rob Wile | ) www.cnbc.com time to read: +3 min

One of those procedures concerns the district's ability to raise taxes and issue bonds to build and maintain infrastructure serving the Walt Disney World Resort. And the district will be renamed: From the Reedy Creek Special Improvement District to the Central Florida Tourism Oversight District. "Until Governor DeSantis acted, the Walt Disney Company maintained sole control over the District," a spokesman for the governor said in a statement. Disney is monitoring the legislation, Jeff Vahle, president of Walt Disney World Resort, said in a statement. But construction still appears to be progressing on a Disney office campus in Lake Nona, roughly 20 miles east of Disney World.

The storm was concentrated in the Dallas-Fort Worth metropolitan area, home to both American and Southwest airlines — though with 419 canceled departures, Southwest had the lion's share of affected flights, according to FlightAware. An alternative measure of cancellation rates on flight-tracking site Anuvu.com showed 9% of Southwest's flights had been canceled, compared with 6% of American's flights. On Monday, it issued a winter weather waiver for 12 airports in the region that will allow affected travelers to get a refund or rebook for any flights canceled from January 30 to February 1. The outsized Southwest cancellations come just weeks after a holiday travel meltdown prompted nearly 17,000 flights to be canceled, potentially affecting millions of travelers. If your flight is delayed for any other reason, like weather, you are not entitled to any compensation or refund.

A Tesla car battery "spontaneously" burst into flames on a California freeway Saturday, and firefighters needed 6,000 gallons of water to put it out. In 2021, the National Highway Transportation Safety Administration (NHTSA) declined to open an investigation into Tesla car battery fires, calling them "rare events." A handful of studies have shown electric vehicles are less likely to catch fire than gasoline or hybrid-electric vehicles — but that when they do, they burn hotter and longer. Tesla CEO Elon Musk has previously said only 0.01% of Teslas have ever caught fire. That compares with an annual rate of 0.08% for all passenger and heavy-duty vehicles in a given year, according to NHTSA and the National Fire Protection Association.

Ford is recalling 462,000 sport utility vehicles whose potentially faulty rear-view cameras have been linked to at least 17 accidents. The affected vehicles include 2020 to 2023 model year Ford Explorers, Lincoln Corsairs and Aviators. Their 360-degree rearview cameras may malfunction and display a blue screen that impacts the ability of a driver to see behind them. The recall expands and replaces a 2021 recall of 228,000 vehicles. Dealers will update the image processing module software on affected vehicles.

If you've been debating whether to file your taxes early this year, tax experts say there are now several reasons that might be a good idea. "It’s safe to assume your Social Security number is in the hands of someone you don’t want to have it," Long said. If you are exposed to identity theft-related tax fraud, the process to file your real return could be onerous, she said. There are other reasons filing early could prove beneficial, especially if you're owed a refund. For many people who expect larger refunds, she said, filing early will help pay for, or help you plan for, expenses for the rest of the year.

If you've ever been confused by miniature bottles branded as Fireball Cinnamon, the popular cinnamon-flavored drink found in gas stations and supermarkets, you're not alone — and now there's a lawsuit over the matter. Citing two news articles pointing out that the bottles, while displaying the Fireball label, do not actually contain whisky, lawyers representing Chicago plaintiff Anna Marquez are seeking unspecified damages against Fireball-maker the Sazerac Company. In the suit, Marquez and her attorneys say the mini bottles, which advertise "Fireball Cinnamon," falsely give consumers the impression that the drinks are merely smaller versions of regular Fireball whisky. "When viewed together with the Fireball distilled spirit brand name, the label misleads consumers into believing it is or contains distilled spirits," the suit states. A representative for Sazerac said the company does not comment on pending litigation and referred an inquiry to the company's Fireball Cinnamon FAQ page.

Big Olaf Creamery has been ordered to pay $4 million to the estate of Mary Billman, a 79-year-old Illinois woman whose death has been linked to a listeria outbreak traced to the Florida-based ice cream maker. Included in Judge William Jung’s ruling are $1 million Big Olaf will have to pay in punitive damages. Big Olaf Creamery in Siesta Key, Fla. Google Maps"Her pain and suffering and resulting death, and ultimate loss to her family and friends, cannot be understated," the suit said. A subsequent investigation by the U.S. Food and Drug Administration prompted a Dec. 9 warning letter finding Big Olaf in "serious violation" of U.S. health codes. A representative for Big Olaf could not be reached for comment.

Walmart said Tuesday it would raise the average hourly wage of its associates to more than $17.50 an hour — up from about $17 an hour. A Walmart representative also told CNBC Tuesday that its overall minimum wage would climb to $14 an hour, a roughly 17% jump for workers who stock shelves and serve customers. The range of salaries for store employees will also climb to between $14 and $19 an hour, from $12 and $18 an hour. About 340,000 store employees will get a raise, representing 21% of Walmart’s 1.6 million U.S. employees. "The labor market for most workers cooled somewhat over 2022, but it’s still hot," he said.

But an accompanying document from one of Holmes' attorneys explained that the ticket had been purchased prior to her conviction. "The government’s newfound claim that Ms. Holmes attempted to flee is baseless," Holmes' attorneys write. Holmes has also been in frequent contact with multiple pretrial services officers, they write. "She has a flawless pretrial services record," they said. The lawyers add that the accusations “have been widely reported in the press and already have produced negative effects for Ms. Holmes and her partner beyond this case,” without elaborating.

Tesla CEO Elon Musk took the witness stand again Monday in a trial over whether he purposefully misled investors when he tweeted that he had "secured" funding to take the electric car maker private. Musk is being sued by Tesla investors who claim the August 2018 take-private tweet caused them to lose substantial sums of money. “Just because I tweet something does not mean people believe it or will act accordingly,” Musk told the jury Friday in San Francisco federal court. Musk’s attorney, Alex Spiro, told the jury in opening statements last week that Musk believed he had financing from Saudi backers and was taking steps to make the deal happen. Asked Friday about requests from Twitter stakeholders to avoid tweeting, Musk said he did not recall them.

Labor shortagesAs the pandemic swooped in, air travel was among the industries most affected, as more than 90% of flights were grounded. Today, labor shortages exist throughout the economy, but the problem drags on in the air travel sector, where more extensive employee training is usually required. Steven Senne / APOutdated technology and infrastructureThere is near-universal agreement that the infrastructure underpinning segments of America's air travel system is outdated and vulnerable. Rep. Sam Graves, R-Montana, said the incident highlighted "a huge vulnerability in our air transportation system." Air travel should be predictable and consistent, and you shouldn’t have to wonder if air traffic control is going to be working today as you head to the airport.

Elizabeth Holmes, the founder of disgraced biotech firm Theranos, bought a one-way ticket to Mexico shortly after she was convicted of fraud last January, a court filing submitted Thursday alleges. Holmes was found guilty on four counts of lying to investors on Jan. 3, 2022. Shortly thereafter, federal prosecutors allege in the filing, Holmes bought a flight to Mexico departing Jan. 26, 2022 without a scheduled return trip. "Only after the government raised this unauthorized flight with defense counsel was the trip canceled," prosecutors say. U.S. District Court Judge Edward Davila ordered Holmes to surrender herself into custody by April 27.

If you bought a period underwear product made by Thinx, you may now be entitled to a refund thanks to a class-action lawsuit settlement announced in November. Plaintiffs in the suit accused Thinx of using — and not telling customers about — potentially harmful chemicals known as PFAS in the underwear. The company has agreed to provide up to an additional $1 million if needed to cover valid claims. As part of the settlement, Thinx denied all the allegations leveled by the plaintiffs, and asserted that the settlement is not an admission of guilt. Thinx customers may receive a $7 refund for each purchase of up to three pairs of Thinx Period Underwear reflected in Thinx’s records, or for which they provide a valid proof of purchase.

The court trial to decide whether a tweet Elon Musk sent in 2018 cost Tesla investors millions of dollars will resume Friday, with Musk himself potentially taking the stand. Tesla shareholders are suing the company to recoup losses they say they suffered amid Musk's claims that he had "secured" money to take the company private at $420 per share. Had the plan ultimately materialized, people who owned shares of Tesla at the time could have earned profits on their holdings. After the trial adjourned Wednesday, Porritt told The Associated Press he hopes to call Musk to the stand Friday after two other witnesses testify. Littleton told the nine-person San Francisco jury that Musk’s claim about the financing alarmed him.

Opening arguments kick off Wednesday in a trial that will see Tesla face off against shareholders who are accusing the company of misleading them over a tweet by Elon Musk that stated funding had been "secured" to take the electric car company private. Lead shareholder plaintiff Glen Littleton is seeking billions of dollars in damages over the August 2018 tweet, which prompted a brief rise in Tesla's stock price. Shares of company stock began a steady decline that continued into the following year. Musk and Tesla were separately fined $20 million and Musk was forced to step down as Tesla's chairman. He also agreed to a requirement to have lawyers review his statements about Tesla before publishing them on social media.

Microsoft said Wednesday it would cut 10,000 jobs worldwide amid a slowing global economy. In a blog post, Microsoft CEO Satya Nadella said the company was seeking to align its cost structure with projected revenues and where customer demand remained the strongest. “As we saw customers accelerate their digital spend during the pandemic, we’re now seeing them optimize their digital spend to do more with less,” he wrote. Microsoft joins companies including Google's parent Alphabet, Amazon, Facebook and Salesforce among the tech giants that have announced job cuts in recent months. Microsoft has called for 2% revenue growth in the fiscal second quarter, which would be the slowest rate since 2016, CNBC reported.

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