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Automotive revenue increased 2% to $20 billion from $19.63 billion in the same period a year earlier and is about flat since late 2022. Energy generation and storage revenue soared 52% to $2.38 billion, while services and other revenue, which includes revenue from non-warranty repairs of Tesla vehicles, jumped 29% to $2.79 billion. Earlier this month, Tesla reported third-quarter vehicle deliveries of 462,890. While deliveries increased 6% from a year earlier, they fell shy of analysts’ expectations and followed two straight quarters of year-over-year declines. “Despite ongoing macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024,” the company said in its earnings deck Wednesday.
Persons: Tesla, Elon Musk, FactSet, Musk, ” Tesla, , Kelley, Vaibhav Taneja, Li Auto, Donald Trump, Trump, doesn’t Organizations: Revenue, Energy, that’s, California Public Utilities, Li, Ford, General Motors, Trump, Nasdaq Locations: Texas, California, Bay, U.S, China, Harrisburg , Pennsylvania
Net income rose to about $2.17 billion, or 62 cents a share, from $1.85 billion, or 53 cents a share, a year ago. Profit margins were bolstered by $739 million in automotive regulatory credit revenue during the quarter. Automotive revenue increased 2% to $20 billion from $19.63 billion in the same period a year earlier and is about flat since late 2022. Energy generation and storage revenue soared 52% to $2.38 billion, while services and other revenue, which includes revenue from non-warranty repairs of Tesla vehicles, jumped 29% to $2.79 billion. "Despite ongoing macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024," the company said in its earnings deck Wednesday.
Persons: Elon Musk, Tesla, FactSet, Musk, Kelley, Vaibhav Taneja, Li Auto, Donald Trump, Trump, doesn't Organizations: LSEG, Energy, that's, California Public Utilities, Li, Ford, General Motors, Trump, Nasdaq Locations: Los Angeles , California, U.S, Texas, California, Bay, China, Harrisburg , Pennsylvania
Gavin Newsom that bans all plastic shopping bags. California had already banned thin plastic shopping bags at supermarkets and other stores, but shoppers could purchase bags made with a thicker plastic that purportedly made them reusable and recyclable. The new measure, approved by state legislators last month, bans all plastic shopping bags starting in 2026. “Californians voted to ban plastic grocery bags in our state almost a decade ago, but the law clearly needed a redo. With the Governor’s signature, California has finally banned plastic bags in grocery checkout lanes once and for all.”As San Francisco’s mayor in 2007, Newsom signed the nation’s first plastic bag ban.
Persons: Gavin Newsom, Sen, Catherine Blakespear, Newsom, Christy Leavitt, , Jenn Engstrom Organizations: CNN, Gov, Consumers, Oceana, Environment America Research & Policy, California Legislature, California Public Interest Research Group, Francisco’s Locations: California, California’s, solidifies California
After tearing into each other in the past, the world's richest person and Republican presidential nominee have become close political allies. December 2016: Musk appointed to Trump's advisory councilsDonald Trump on Tuesday escalated his feud with Elon Musk in a series of Truth Social posts belittling the billionaire. May 2022: Musk said he would reinstate Trump's Twitter accountTesla CEO Elon Musk. "You know [Musk] said the other day 'Oh, I've never voted for a Republican,'" Trump said during a Saturday rally in Anchorage, Alaska. AdvertisementJuly 2022: Musk says Trump shouldn't run againElon Musk.
Persons: , Elon, Donald Trump, Trump, Musk, Yasin Ozturk, Hillary, Elon Musk, Evan Vucci, Uber, Travis Kalanick, flack, Alex Brandon, Musk's, Tesla, Justin Sullivan, He's, Thomas Edison, Jonathan Ernst, Chris Saucedo, unban Trump, Patrick T, Fallon, I've, Alexi Rosenfeld, getty, Seth Herald, Twitter, Ron DeSantis, DeSantis, David Sachs, John Moore, Joe Biden, Ohio Sen, JD Vance, Vance, MAGA, Biden, Kamala Harris, Harris Organizations: Service, Trump, Twitter, Business, CNBC, Elon, White, SpaceX, Donald Trump AP, America, Ford, General Motors, NASA's Kennedy Space Center, REUTERS, SXSW, Financial Times, US, Getty, Republican, and Freedom Coalition, White House, Radical Left, Florida Gov, The New York Times, GOP, Times, Republican National Convention, Ohio, Wall Street, Democratic Locations: United States, Paris, Anchorage , Alaska, California, Cape Canaveral , Florida, U.S, Nashville , Tennessee, Musks, Silicon Valley, Mexico, Eagle Pass , Texas, Eagle, , Texas, Washington, Ukraine, Lago, Harris
A former California public school official who embezzled more than $16 million from a school district and used the money to fund a lavish lifestyle was sentenced to nearly six years in prison this week, according to the Justice Department. A federal judge on Thursday sentenced Jorge Armando Contreras, 53, who worked for the Magnolia School District in Orange County, to 70 months and ordered him to pay $16,694,942 in restitution. Mr. Contreras, of Yorba Linda, Calif., had pleaded guilty in March to one count of embezzlement, theft and intentional misapplication of funds from an organization receiving federal funds, the U.S. attorney’s office said. He used the money to buy a range of luxurious products like Louis Vuitton bags and $2,000 tequila bottles, according to the Justice Department. About $7.7 million in personal and real property traced to the scheme have been seized, officials said.
Persons: Jorge Armando Contreras, . Contreras, Martin Estrada, ” Mr, Contreras, Louis Vuitton Organizations: Justice Department, Magnolia School, Central, Central District of Locations: California, Orange County, Yorba Linda, Calif, U.S, Central District, Central District of California
Read previewSome institutional Tesla shareholders told Business Insider that approving Elon Musk's record-shattering pay package was a mistake and that they have lingering concerns about Musk's ability to lead the company. Reuters reported that Vanguard, the largest institutional shareholder with a 7% stake in Tesla, voted to approve the pay package. Related storiesIt's unclear how many Tesla shares AkademikerPension owned as of June 14. Shareholders call for board oversightDuring Thursday's shareholder meeting, Musk challenged concerns from institutional shareholders, though he did not name specific investors. The California Public Employees' Retirement System, or CalPERs, which, according to the pension fund, owns about 9.2 million Tesla shares, has also been vocal about striking down Musk's pay package.
Persons: , Elon Musk's, doesn't, Musk's, Tesla, Anders Schelde, James Murdoch, Kimbal, Musk, … they're, Brad Lander, Lander, CalPERS, Marcie Frost, isn't Organizations: Service, Business, Investors, Reuters, Vanguard, York, New, Retirement System, California Public Employees, Tesla Locations: Delaware, Danish, New York, York City, Tesla
How Tesla Shareholders Upheld Elon Musk’s Sky-High PayTesla shareholders on Thursday voted to reaffirm a roughly $48 billion compensation package for Elon Musk, which was originally approved in 2018 and was nullified by a judge early this year. Mr. Musk’s pay package helped him become one of the richest people in the world. Thursday’s vote arose from a court case in Delaware, where the company is incorporated, that voided Mr. Musk’s pay package. California Public Employees’ Retirement System, or CalPERS, the largest pension fund in the United States, also opposed the pay package. The debate about Mr. Musk’s compensation raised questions about the limits of executive compensation and the accountability of Silicon Valley billionaires whose wealth gives them vast influence.
Persons: Elon Musk, Elon, Kimbal, Tesla, Musk, Eli Lilly, Nvidia Berkshire Hathaway Apple Tesla, Bernstein Organizations: Tesla, Elon, Sky, The New York, Mr, Norges Bank Investment Management, California Public, Broadcom, Chase Amazon, Nvidia Berkshire, The New York Times, Silicon, SpaceX, Fortune Locations: Delaware, United States, Texas, Austin
Read previewThe vote for Elon Musk's hotly debated $55 billion pay package is next week. Tesla is now putting Musk's pay package to a shareholder vote on June 13 in an effort to reinstate it. Tesla board chair Robyn Denholm said in an interview on CNBC's "Squawk Box" on Thursday that there are multiple possibilities. AdvertisementThe Tesla board chair said while there may be other options, they would lead to increased costs or decreased motivation from Musk. Advocates for and against ratifying Musk's pay package have been ramping up their arguments in recent weeks.
Persons: , Elon Musk's, Tesla, Robyn Denholm, Denholm, Elon, Musk, hasn't, There's, it's, Ron Baron Organizations: Service, Business, California Public Employees Locations: Delaware, America
Read previewTesla is facing increasing pushback from investors regarding its bid to reinstate Elon Musk's $55 billion pay package. The fund initially voted for Musk's pay package when it was taken to a shareholder vote in 2018. Separately, proxy advisory firm Glass Lewis said in a report on Saturday that the pay plan was "excessive" and presented investors with "uncertain benefits and additional risk." Tesla has also argued the compensation plan is "critical to the future success of Tesla" and has even paid for a handful of advertisements promoting the pay plan. Shareholders will be asked to vote on several proposals in addition to the proposal to reinstate Musk's pay package, which was struck down by a Delaware judge earlier this year.
Persons: , Elon, Marcie Frost, Musk's, Tesla, Frost, Musk, CalPERS, James Murdoch, Kimbal, Glass Lewis, Kimbal Musk, Murdoch Organizations: Service, Elon Musk's, California Public Employees, CNBC, Business, Bloomberg, Securities and Exchange Commission, Texas Locations: Delaware, Texas
Exxon Mobil 's monthslong battle with two environmentally focused activist investors has cost the company the support of the California Public Employees' Retirement System. The two activists submitted a shareholder proposal that would have forced the company to reduce direct emissions and set a target for lowering emissions at suppliers and customers. Exxon sued the investors in Texas federal court in January, prompting them to withdraw the proposal. Even with the activists backing off, Exxon has continued its lawsuit to prevent the activists from ever again submitting such a proposal. CalPERS said in its letter that Exxon's "reckless" lawsuit threatened shareholder activism efforts on any issue.
Persons: Darren Woods, Arjuna, CalPERS, Marcie Frost, Theresa Taylor, it's, Greg Goff, Kaisa Hietala, Andy Karsner, Jeff Ubben Organizations: APEC, Summit, Moscone West, Exxon Mobil, California Public Employees, Exxon, CNBC, ExxonMobil, Securities and Exchange Commission, Inclusive Capital Locations: San Francisco , California, Texas
Utility regulators in California on Thursday changed how most residents will pay for energy by adding a new fixed monthly charge and lowering the rates that apply to energy use. Officials said the shift would reduce monthly bills for millions of residents and support the use of electric vehicles and appliances that run on electricity, rather than fossil fuels. The decision by the California Public Utilities Commission will apply to the rates charged by investor-owned utilities, which provide power to about 70 percent of the state. Starting next year, most customers of those companies will be required to pay a $24.15 monthly charge. California’s residential electric rates, which averaged 31.2 cents per kilowatt-hour in February, are the highest in the country after Hawaii, where rates were about 44 cents, according to the federal Energy Information Administration.
Organizations: California Public Utilities Commission, Regulators, Energy Information Administration Locations: California, Hawaii
Pacific Gas & Electric announced plans on Tuesday to sell a minority stake in its power-generation business, part of its strategy to reduce electricity rates, continue wildfire prevention and further develop clean energy. The exclusive deal with the global investment firm KKR is part of PG&E’s plan to transfer its nonnuclear power generation to a newly formed subsidiary, Pacific Generation. The proposals for the subsidiary and the KKR stake require approval by the California Public Utilities Commission and the Federal Energy Regulatory Commission. KKR, which manages $59 billion in assets, operates a global infrastructure business with expertise in the utility and renewable energy industry. PG&E said in a statement that the investment firm’s access to capital gave it the ability to take a long-term approach in its strategies.
Persons: ” Carolyn Burke Organizations: Gas & Electric, KKR, Pacific, California Public Utilities Commission, Federal Energy Regulatory Commission
Musk hinted at his plans in a brief post late Friday afternoon on X, writing: "Tesla Robotaxi unveil on 8/8." Musk has talked about a robotaxi service for years. In 2019, he discussed plans to launch a robotaxi fleet using Tesla vehicles that people had leased and then returned. Musk has also talked about a robotaxi service with decentralized ownership, in which Tesla owners could rent out their cars for fares. Amazon subsidiary Zoox has said it has authorization from Nevada to operate a robotaxi service, which hasn't launched.
Persons: robotaxis, Tesla, Elon Musk, Brad Templeton, Templeton, Cruise, Musk, Zoox, hasn't, Eli Rohl Organizations: The California Department of Motor Vehicles, California Public Utilities Commission, NBC, DMV, Google, General Motors, Phoenix, Toyota, Car Dealers Association, Reuters, Cruise, Transportation Department, Nevada DMV, The, The Nevada DMV, California DMV Locations: California, San Francisco, Los Angeles, leaseholders, Arizona, Nevada, The Nevada
General Motors' Cruise self-driving vehicle unit will redeploy cars on U.S. roadways for the first time since October, beginning with a small fleet of human-driven vehicles in Phoenix, the company said Tuesday. Cruise said its "goal is to resume driverless operations," however it did not provide a timeline for doing so. The probe also investigated allegations of a coverup by Cruise leadership, but did not find any evidence to support those claims. Prior to the accident, Cruise was planning an aggressive expansion of robotaxis outside its home market, where the majority of its vehicles operated. In addition to the ceasing of operations, Cruise leadership has been gutted: Its cofounders, including CEO and cofounder Kyle Vogt, resigned and nine other leaders were ousted.
Persons: Cruise, We've, Kyle Vogt Organizations: Motors, GM, Cruise, California DMV, California Public Utilities Commission, Traffic Safety Administration, U.S . Department of Justice, U.S . Securities, Exchange Commission Locations: Phoenix, San Francisco, California
Trian claims Disney's board has failed to generate sufficient returns in recent years as subscription streaming losses have mounted and traditional TV subscribers have declined. Early vote countBoth Disney and Trian received support from influential shareholders ahead of Wednesday's meeting. Roughly one-third of Disney's shareholders are retail shareholders, who historically vote in small numbers in annual meetings. The arrangement still raised questions about ValueAct's support for the company and whether Disney's board should have disclosed the prior relationship. WATCH: Disney board battle reaches final moments
Persons: Bob Iger, Mickey Mouse, Valerie Macon, Nelson Peltz, Jay Rasulo, They've, Maria Elena Lagomasino, Michael Froman, Peltz, Ike Perlmutter, Trian, Disney's, Iger, Bob Chapek, Patrick T, Adam Jeffery, Morgan Stanley, James Gorman, CNBC's, George Lucas, Laurene Powell Jobs, Lucas, Powell Jobs, Ken Squire, Rowe Price, Rowe, Mason Morfit's, ValueAct, Neuberger Berman, John Ferguson, Rasulo —, Glass Lewis, Iger's, Gorman, Jeremy Darroch, CNBC's Andrew Ross Sorkin, Heidi Gutman, Lagomasino, shouldn't, Blackwells, Rasulo, Jason Aintabi, John Foley, Jessica Schnell, Craig Hatkoff, Leah Solivan, ValueAct hasn't Organizations: AFP, Getty Images Disney, Voters, Trian Partners, Disney, PepsiCo, Marvel, SEC, Fallon, Bloomberg, Getty, CNBC Disney, CNBC, Star Wars, LucasArts, Pixar, BlackRock, Institutional, California Public Employees, Yacktman Asset Management, Saratoga Proxy, ISS, Sky, Trian Fund Management, NBCU, Bank, NBCUniversal, Green, Comcast Locations: Los Angeles, New York
It's a victory for CEO Bob Iger against activist investor Nelson Peltz. AdvertisementDisney CEO Bob Iger has officially prevailed in his battle against activist investor Nelson Peltz. Disney had been expected to prevail in the Peltz proxy battle. AdvertisementThe battle, though, likely prompted Iger and the board to redouble its focus on the next Disney CEO. "Regardless of the outcome of today's vote, Trian will be watching this company's performance," Peltz said at the meeting before the decision.
Persons: Bob Iger, Nelson Peltz, , Peltz, Jay Rosulo, Horacio Gutierrez, Disney's, Maria Elena Lagomasino —, Iger, Disney, Neuberger Berman, Trian, Gen Z, Alpha, Bob Chapek, Iger's, Jason Schloetzer Organizations: Disney, Service, Trian Partners, CNBC, California Public Employees, Epic Games, ESPN, Georgetown University's McDonough School of Business
As for the newsletter, in today's big story, we're breaking down Disney's big proxy fight . Activist investor Nelson Peltz's proxy fight against Disney for two seats on the company's board comes to a head at its annual shareholder meeting today. The total amount spent between Disney and its rivals wrangling votes is estimated to be at least $70 million, a record for a proxy fight. The statue of Walt Disney and Mickey Mouse at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida. 3 things in businessWin McNamee/Getty Images; Chelsea Jia Feng/BIIn other newsAdvertisementWhat's happening todayThe Walt Disney Company's annual meeting will be held today.
Persons: , Congrats, ya, Bob Iger, Nelson Peltz, Neilson Barnard, David A, Grogan, Nelson, Madeline Berg, BI's Peter Kafka, BI's Grace Eliza Goodwin, Walt Disney, Mickey Mouse, Joe Burbank, Rowe Price, Peltz's Trian, Neuberger Berman, Peltz, It's, Trian, they're, Stocks, Ray Dalio, it's, Quincy Krosby, Jeffrey Buchbinder, Alyssa Powell, Win McNamee, Chelsea Jia Feng, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, National, Getty, Disney, Magic, Walt Disney World, Orlando Sentinel, Tribune, Wall, BlackRock, Peltz's Trian Partners, California Public Employees, Financial Times, DuPont, Fed, JPMorgan, Bridgewater Associates, Astera Labs, Arm Holdings, LPL Financial, Apple, Nvidia, BI, Walt Locations: , Virginia, Lake Buena Vista , Florida, China, Haiti's, New York, London
Two competing slates of board seats are now up for a vote against Disney’s. Peltz has criticized Disney’s recent theatrical flops and said the company should reach “Netflix-like margins” with its Disney+ streaming service, among other issues. If Peltz is successful, he and Rasulo could gain up to two seats on the board, displacing Disney’s picks. More than 35% of Disney’s shares are held by these individuals, who could seriously sway the vote. The influential advisory firms Institutional Shareholder Service and Egan-Jones have also thrown their support behind Peltz for at least one seat on the board.
Persons: Nelson Peltz, Jay Rasulo, Peltz, Ike Perlmutter, Bob Iger, ” Barton Crockett, Disney, ” Trian, Rasulo, Iger, Bob Chapek, Peltz —, , It’s, ” Peltz, Perlmutter, , “ They’ve, ’ ” Crockett, Anna, Elsa, Ludwig Von Drake, “ Disney, George Lucas, Jamie Dimon, Michael Eisner, Laurene Powell Jobs, Abigail E, they’ve, ” Jessica Reif Ehrlich, “ Nelson Peltz, Neuberger Berman, Egan, Jones, ” Crocket, CNN’s Liam Reilly, Krystal Hur Organizations: CNN, Disney, Magic Kingdom, Disney’s, Trian Fund Management, Blackwells, Marvel, Netflix, Rosenblatt Securities, ESPN, ABC, Google, JPMorgan Chase, BofA Securities, California, Service Locations: Trian
A vote for the Disney's slate of board members will show support for Iger's performance as CEO since he returned to lead the company in November 2022. AdvertisementIt's the culmination of months of tussling between Disney and Peltz, who has been waging war against Disney's board since January last year. "When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger's leadership." And proxy advisory firm Institutional Shareholder Service recommended shareholders vote for Peltz, though not Rasulo. Advertisement"We wish the very best to Bob, this management team, and the board," Peltz said on CNBC at the time.
Persons: , Bob Iger, Nelson Peltz's Trian, that's, Peltz, Jay Rasulo —, Maria Elena Lagomasino, Michael Froman, Gen, Alpha, Jason Schloetzer, BlackRock, Rowe Price, Iger, Roy Disney's, Laurene Powell Jobs, George Lucas, Lucas, Bob Iger's, Donald Duck's, Ludwig Von Drake, Schloetzer, Trian, That's, Neuberger Berman, Ike Perlmutter, he'd Organizations: Service, Disney, Nelson Peltz's Trian Partners, Business, Century Fox, Epic Games, Georgetown University's McDonough School of Business, Vanguard, Street Journal, ValueAct Capital, Walt, Star Wars, Lucasfilm, New York Times, California Public Employees, CNBC, Netflix, ABC, ESPN, Marvel, Financial
Los Angeles CNN —A Panera Bread franchise owner in California said he will raise the minimum wage for his employees after accusations he benefited from ties to the state’s governor to avoid hiking pay. A new state minimum wage law exempts certain businesses that make and sell bread – a carveout that critics contended benefited Greg Flynn, a billionaire Panera franchise owner who attended high school with Democratic California Gov. On Tuesday, Flynn told CNN that he has decided to raise the minimum pre-tip wage at all of his Panera Bread locations to $20 per hour, regardless of whether his fast-casual bakeries are exempt from the new minimum wage law or not. “At Flynn Group, we are in the people business and believe our people are our most valuable assets,” Flynn said. However, Flynn said he never personally met with Newsom about the minimum wage bill, though he did meet with Newsom’s staff and a group of other restaurant owners to discuss it.
Persons: Greg Flynn, Gavin Newsom, Flynn, , ” Flynn, Newsom, , Alex Stack Organizations: Los Angeles CNN, Democratic California Gov, CNN, Flynn Group Locations: California
Hollywood's newest star is the Waymo robotaxi
  + stars: | 2024-03-04 | by ( Hannah Getahun | ) www.businessinsider.com   time to read: +4 min
Waymo can now operate its Waymo One service in Los Angeles. AdvertisementWaymo is now approved to operate its driverless vehicles in Los Angeles and additional parts of the Bay Area. Los Angeles Mayor Karen Bass expressed concern about Waymo vehicles blocking the roads when emergency vehicles are trying to pass, which has happened several times in San Francisco. Waymo vehicles have been filmed cutting off road access and blocking public transport and emergency vehicles. There are also a few incidents of Waymo vehicles injuring people.
Persons: , Waymo, Julia Ilina, Los Angeles Mayor Karen Bass, Ilina, Illina, Tilly Chang, Cruise Organizations: Service, California Public Utilities Commission, Los, San, Los Angeles Mayor, Cruise, San Francisco County Transportation Authority, DMV Locations: Los Angeles, Bay, California, San Francisco, San Mateo, San Francisco Peninsula, San Francisco —, San Francisco County
Alphabet's Waymo robotaxi unit won approval from the California Public Utilities Commission to expand service to parts of Los Angeles and the Bay Area, according to a notice posted to the regulator's website on Friday. "Waymo may begin fared driverless passenger service operations in the specified areas of Los Angeles and the San Francisco Peninsula, effective today," the release said. In mid-February, Waymo initiated a voluntary recall filing notice with the National Highway Traffic Safety Administration, saying it would fix software issues. The latest notice applies to the commercial ride-sharing service Waymo One. WATCH: Crowd burns Waymo in San Francisco
Persons: Alphabet's, Waymo, Apple, Elon Musk's Tesla, Cruise robotaxis Organizations: California Public Utilities Commission, San, National, Traffic Safety Administration, California Department of Motor Vehicles, General Motors, Cruise, Palo Locations: Los Angeles, San Francisco Peninsula, Phoenix, California, Palo Alto, San Mateo County, San Francisco
SAN FRANCISCO (AP) — California regulators on Friday authorized Waymo to expand services of its fleet of robotaxis into Los Angeles and to cities on the peninsula south of San Francisco. The California Public Utilities Commission approved Waymo's application for the expansion of its self-driving taxi operations beyond San Francisco starting Friday. The company owned by Google parent Alphabet Inc. has also been operating the service in Phoenix since 2020. The expansion for Waymo comes after California authorities revoked the license of a rival robotaxi service owned by General Motors after determining its driverless cars that had been transporting passengers throughout San Francisco were a dangerous menace. Officials in San Mateo County and Los Angeles had opposed the expansion and want more local say over how robotaxis can operate.
Persons: Waymo Organizations: FRANCISCO, , The, The California Public Utilities Commission, San Francisco, Google, Inc, General Motors, Cruise Locations: — California, robotaxis, Los Angeles, San Francisco, The California, San, Phoenix, LA, California, San Mateo County
Why Panera is causing a stir in California politics
  + stars: | 2024-03-01 | by ( Samantha Delouya | ) edition.cnn.com   time to read: +4 min
And Panera Bread has been caught in the middle. Newsom has also said that Panera may not be exempt from the new minimum wage law after all. Nevertheless, on Thursday, Republican lawmakers in California called on the state’s attorney general to investigate the minimum wage exemption. Flynn’s company operates more than just Panera Bread locations. Stack also said that Newsom’s legal team determined that the carve-out would likely not apply to most Panera Bread locations.
Persons: Gavin Newsom, Greg Flynn, Newsom’s, Newsom, Flynn, Panera, , Brian Jones, owner’s Newsom, Myung J, Chun, , ” Flynn, Taco, , Alex Stack, Stack Organizations: Los Angeles CNN, Democratic California Gov, Republican, Los Angeles Times, CNN, Flynn Group, Taco Bell Locations: California, Los Angeles , CA
A San Francisco-based Lyft driver said Waymo's self-driving taxis have made the job more competitive. And it is getting harder every day.”AdvertisementMore drivers, ride challenges, and self-driving taxis make ride-hailing competitiveA self-driving Waymo car in San Francisco. Lyft has a self-driving partnership with the riderless technology company Motional in Las Vegas, which has led to the completion of over 100,000 self-driving Lyft trips. In October, San Francisco banned Cruise from operating in San Francisco after it failed to disclose video footage of a woman being pinned under one of its vehicles. The company told BI it has a couple hundred self-driving taxis in its San Francisco fleet.
Persons: , Nick Boenzi, San Francisco — Boenzi, Boenzi, He’d, , Lyft, Uber, Lyft’s, Cruise, Waymo, he’s, he’ll Organizations: Service, San Francisco International Airport, Getty, BI, who’ve, General Motors, California Public Utilities Commission, San, Lyft Locations: Francisco, San Francisco, Las Vegas, Phoenix, Cruise
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