Oak View Group CEO Tim Leiweke was indicted on a federal criminal conspiracy charge related to allegedly rigging a bid to develop, manage, and operate the University of Texas’ basketball and entertainment arena in Austin, the Department of Justice said Wednesday. Oak View Group, which will pay $15 million in penalties in connection with the…
SAN FRANCISCO — OpenAI is close to releasing an AI-powered web browser that will challenge Alphabet’s market-dominating Google Chrome, three people familiar with the matter told Reuters. The browser is slated to launch in the coming weeks, three of the people said, and aims to use artificial intelligence to fundamentally change how consumers browse the…
Amazon is extending its annual Prime Day sales and offering new membership perks to Gen Z shoppers amid tariff-related price worries and possibly some consumer boredom with an event marking its 11th year. For the first time, Seattle-based Amazon is holding the now-misnamed Prime Day over four days. The e-commerce giant’s promised blitz of summer…
Chinese chain Luckin Coffee opened its first two U.S. locations this week, betting that mobile-only ordering and creative flavors can lure customers away from Starbucks. Both new Luckin stores are based in Manhattan, and at the midtown location on Wednesday, Sam Liu took a sip of her jasmine cold brew. “I’ve never tried anything like…
In a year when the U.S. consumer has been weighed down by economic uncertainty, geopolitical tensions and inflation, Black entrepreneurs are eager to get to the Essence Festival of Culture to connect with their core customers. “Essence Fest is like my Black Friday,” said Rochelle Ivory, owner of beauty brand On the Edge Baby Hair….
Boeing delivered 60 airplanes last month, the most since December 2023, as the plane maker seeks to raise production of its bestselling 737 Max jets after a series of manufacturing and safety problems. The tally was the highest since before a door plug from one of its new 737 Max 9 planes blew out midair…
Waymo announced Tuesday that it is offering accounts for teens ages 14 to 17, starting in Phoenix. The Alphabet-owned company said that, beginning Tuesday, parents in Phoenix can use their Waymo accounts “to invite their teen into the program, pairing them together.” Once their account is activated, teens can hail fully autonomous rides. Previously, users…
Constellation Brands on Tuesday reported quarterly earnings and revenue that missed analysts’ estimates as beer demand slid and tariffs on aluminum weighed on its profitability. Still, the brewer reiterated its forecast for fiscal 2026, showing confidence that it can hit its financial targets despite the weaker-than-expected quarterly performance and higher duties. Shares of the company…
Microsoft said Wednesday that it will lay off about 9,000 employees. The move will affect less than 4% of its global workforce across different teams, geographies and levels of experience, a person familiar with the matter told CNBC. The announcement comes on the second day of Microsoft’s 2026 fiscal year. Executives at the Redmond, Washington-based…
Apple has accused a former engineer for its Vision Pro headset computer of stealing company trade secrets before starting a new job at Snap, according to a lawsuit filed in California last week. In the June 24 court filing, Apple accuses Di Liu, a senior design engineer, of downloading thousands of documents in his final…
