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PayPal to Cut 2,000 Jobs in Latest Tech Company Cost-cutting

PayPal to Cut 2,000 Jobs in Latest Tech Company Cost-cutting

BUSINESS | Feb 1, 2023

PayPal said Tuesday it will trim about 7% of its total workforce, or about 2,000 full-time workers, as the company contends with what it calls "the challenging macro-economic environment."

Elon Musk's Tesla Tweet Trial Delves into Investor Damages

Elon Musk's Tesla Tweet Trial Delves into Investor Damages

BUSINESS | By Michael Liedtke | Feb 1, 2023

An Elon Musk tweet declaring he had the financing to take Tesla private in 2018 caused billions of dollars in investor damages after the deal collapsed, according to estimates presented Tuesday.

Treasury to Increase Borrowing Amid Debt Ceiling Standoff

Treasury to Increase Borrowing Amid Debt Ceiling Standoff

BUSINESS | By Fatima Hussein | Jan 31, 2023

The Treasury Department said Monday it plans to increase its borrowing during the first three months of 2023, even as the federal government is bumping up against a $31.4 trillion limit.

Elon Musk's Mysterious Ways on Display in Tesla Tweet Trial

Elon Musk's Mysterious Ways on Display in Tesla Tweet Trial

BUSINESS | By Michael Liedtke | Jan 30, 2023

Elon Musk's enigmatic personality and unconventional tactics are emerging as key exhibits in a trial revolving around one of his most polarizing pursuits — tweeting.

Elon Musk's Tweeting Style Seizes Spotlight in Tesla Trial

Elon Musk's Tweeting Style Seizes Spotlight in Tesla Trial

BUSINESS | By Michael Liedtke | Jan 26, 2023

Tesla CEO Elon Musk's impulsive and sometimes inflammatory usage of Twitter took center stage Wednesday in a trial focused on whether he misled investors with 2018 tweets.

War on Drugs Locked Him Up; Now He's a Cannabis Entrepreneur

War on Drugs Locked Him Up; Now He's a Cannabis Entrepreneur

BUSINESS | By Bobby Caina Calvan | Jan 25, 2023

At age 50, Roland Conner has opened the state's first legal cannabis dispensary to be run by someone previously punished under New York's old, prohibitionist drug laws.

Elon Musk Defiantly Defends Himself in Tesla Tweet Trial

Elon Musk Defiantly Defends Himself in Tesla Tweet Trial

BUSINESS | By Michael Liedtke | Jan 25, 2023

Elon Musk returned to federal court and defiantly insisted Tuesday he could have pulled off a buyout of Tesla, had he wanted.

Mars Pauses Using M&Ms 'Spokescandies,' Enlists Maya Rudolph

Mars Pauses Using M&Ms 'Spokescandies,' Enlists Maya Rudolph

BUSINESS | By Mae Anderson | Jan 24, 2023

Mars says it's pausing using its trademark M&M's spokescandies and has enlisted actor and comedian Maya Rudolph to star in its marketing efforts, including its Super Bowl ad campaign.

3M Cutting about 2,500 Manufacturing Jobs Globally

3M Cutting about 2,500 Manufacturing Jobs Globally

BUSINESS | By Michelle Chapman | Jan 24, 2023

3M, maker of Post-it notes, industrial coatings and ceramics, is cutting about 2,500 manufacturing jobs worldwide as it looks to align itself with adjusted production volumes.

Elon Musk: Tweets about Taking Tesla Private Weren't Fraud

Elon Musk: Tweets about Taking Tesla Private Weren't Fraud

BUSINESS | By Barbara Ortutay | Jan 24, 2023

Elon Musk returned to federal court Monday in San Francisco, testifying that he believed he had locked up financial backing to take Tesla private during 2018 meetings.

Biden's Next Climate Hurdle: Enticing Americans to Buy Green

Biden's Next Climate Hurdle: Enticing Americans to Buy Green

BUSINESS | By Chris Megerian, Hannah Fingerhut, and Matthew Daly | Jan 23, 2023

President Joe Biden persuaded Democrats in Congress to provide hundreds of billions of dollars to fight climate change. Now comes another formidable task.

Tyson, Others, Lose Oklahoma Lawsuit over Poultry Pollution

Tyson, Others, Lose Oklahoma Lawsuit over Poultry Pollution

BUSINESS | By Ken Miller | Jan 20, 2023

The world's largest poultry producer, Tyson Foods, is among nearly a dozen poultry companies that have less than two months to reach agreement with the state of Oklahoma on how to clean a watershed.

Flavored Cannabis Marketing is Criticized for Targeting Kids

Flavored Cannabis Marketing is Criticized for Targeting Kids

BUSINESS | By Bobby Caina Calvan | Jan 20, 2023

As cannabis shops proliferate across the country, concerns are growing over the packaging and marketing of flavored cannabis that critics say could entice children.

Job Cuts in Tech Sector Spread, Microsoft Lays Off 10,000

Job Cuts in Tech Sector Spread, Microsoft Lays Off 10,000

BUSINESS | By Matt O'Brien | Jan 19, 2023

Microsoft is cutting 10,000 workers, almost 5% of its workforce, joining other tech companies that have scaled back their pandemic-era expansions.

Elon Musk Depicted as Liar, Visionary in Tesla Tweet Trial

Elon Musk Depicted as Liar, Visionary in Tesla Tweet Trial

BUSINESS | By Michael Liedtke | Jan 19, 2023

Elon Musk was depicted Wednesday as either a liar who callously jeopardized the savings of "regular people" or a well-intentioned visionary as attorneys delivered opening statements at a trial.

Genesis Global: The Downfall of a UK Gambling Giant

Genesis Global: The Downfall of a UK Gambling Giant

BUSINESS | Jan 19, 2023

The downfall of one of the UK's most popular gambling operators still surprised many. The timeline of events, however, makes clear that filing for bankruptcy was on the table early on.

On the Rise: Actor John Toon Makes His Mark in Hilarious 'Pooph' Ad

On the Rise: Actor John Toon Makes His Mark in Hilarious 'Pooph' Ad

BUSINESS | Jan 18, 2023

There may not be a funnier and more dynamic personality pushing a product than John Toon, the buff, bearded, fast-talking spokesperson for Pooph, the odor eliminator that is so safe he sprays it in his mouth.

Jury Selected for Elon Musk Trial about Tesla Buyout Tweets

Jury Selected for Elon Musk Trial about Tesla Buyout Tweets

BUSINESS | By Michael Liedtke | Jan 18, 2023

A jury was seated Tuesday to hear a trial that will determine whether Tesla CEO Elon Musk cheated investors by asserting in 2018 tweets that he had lined up financing to take the electric automaker private.

EU Outlines Plan for Clean Tech Future Boosted by Subsidies

EU Outlines Plan for Clean Tech Future Boosted by Subsidies

BUSINESS | By Raf Casert | Jan 17, 2023

The European Union pushed forward with a clean tech industrial plan which not only should keep the continent in the vanguard of plotting a greener future but also guarantee its economic survival.

Elon Musk's Next Drama: A Trial over his Tweets about Tesla

Elon Musk's Next Drama: A Trial over his Tweets about Tesla

BUSINESS | By Michael Liedtke | Jan 16, 2023

While still grappling with the fallout from a company he did take private, beleaguered billionaire Elon Musk is now facing a trial over a company he didn't.

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