New York Posts – Business

  • Half of Walmart’s workers are now part-timers
    by Reuters on May 25, 2018 at 4:52 pm

    Part-time workers account for half of Walmart’s workforce, up from 20 percent in 2005, according to a labor group report Friday that examined the company’s increased shift away from more expensive full-time employees. The report from the Organization United for Respect (OUR), formerly called OUR Walmart, said 69 percent of the part-time employees it surveyed... […]

  • Tesla accelerated seconds before Autopilot crash in Utah: cops
    by Associated Press on May 25, 2018 at 3:14 pm

    A Tesla that crashed while in Autopilot mode in Utah this month accelerated in the seconds before it smashed into a stopped firetruck, according to a police report obtained by the Associated Press on Thursday. Two people were injured. Data from the Model S electric vehicle show it picked up speed for 3.5 seconds shortly... […]

  • Tesla settles class-action lawsuit over its Autopilot system
    by Reuters on May 25, 2018 at 2:56 pm

    Tesla on Thursday reached an agreement to settle a class-action lawsuit with buyers of its Model S and Model X cars who alleged that the company’s assisted-driving Autopilot system was “essentially unusable and demonstrably dangerous.” No further details of the agreement, announced in a filing in San Jose federal court late Thursday, were available. The... […]

  • Amazon blames creepy Alexa incident on ‘unlikely’ string of events
    by Associated Press on May 25, 2018 at 1:44 pm

    An “unlikely” string of events prompted Amazon’s Echo personal assistant device to record a Portland, Oregon, family’s private conversation and then send the recording to an acquaintance in Seattle, the company announced Thursday. The woman told KIRO-TV that two weeks ago, an employee of her husband contacted them to say he thought their device had... […]

  • Perry Ellis founder sets deadline for offer to take company private
    by Carleton English on May 25, 2018 at 2:05 am

    Perry Ellis is tired of founder George Felden­kreis’ public efforts to “mischaracterize” the company’s review of his offer to take the company private. The Miami-based apparel maker said Thursday it is undergoing a “bona fide process” to review Felden­kreis’ offer of $27.50 a share. But Feldenkreis, citing “unjustifiable delays” in Perry Ellis’ review process on... […]

  • Elon Musk wants to name his journalist-rating site after Communist newspaper
    by Nicolas Vega on May 25, 2018 at 1:54 am

    Elon Musk is taking his Twitter tantrums to a whole new level. The increasingly irascible Tesla chief executive went on a 24-hour, anti-media tirade from Wednesday to Thursday, culminating in an online poll that saw nearly 700,000 people showing their support for his plans to create a website to vet journalists’ credibility. Musk said that... […]

  • Live Nation gave execs $11M in bonuses despite missing targets: suit
    by Richard Morgan on May 25, 2018 at 12:35 am

    A Live Nation investor is accusing the concert promoter of handing out $11 million in bonuses to top execs last year despite their failure to meet performance targets. The suit filed Wednesday, which seeks class-action status, notes that target numbers in Live Nation’s 2018 proxy statement don’t match those in its annual 10-K report for... […]

  • Victoria’s Secret could be diving back into swimwear
    by Lisa Fickenscher on May 24, 2018 at 11:34 pm

    Victoria’s Secret may dip its toe back into the swimsuit business, after all. The struggling lingerie giant’s wishy-washy executives admitted to Wall Street analysts on Thursday they were considering backtracking on a controversial decision to exit swimwear in 2016. “There is discussion about bringing back swim from time to time,” Stuart Burgdoerfer, chief financial officer of... […]

  • McDonald’s customers suing for $5M over unwanted cheese
    by Fox News on May 24, 2018 at 10:59 pm

    Two McDonald’s customers in Florida are suing the fast-food giant for a hefty sum of $5 million because they say they’re being unfairly charged for cheese they don’t want on their burgers. Cynthia Kissner and Leonard Werner argue that hamburgers and cheeseburgers are different prices on the McDonald’s menu, but when they order a Quarter... […]

  • Netflix becomes the world’s most valuable entertainment company
    by Reuters on May 24, 2018 at 10:09 pm

    Netflix’s stock market value ballooned to a record $153 billion on Thursday and eclipsed Walt Disney Co. for the first time, making it the world’s most valuable entertainment company, following a monumental shift by viewers away from cinemas and cable television. Lifted by a blitz of original programs and 125 million global subscribers, some of... […]