Grubhub will pay $25 million to settle charges it misled customers about the cost of their delivery and drivers about how much they could earn on the food-delivery platform. The Federal Trade Commission and the attorney general for the state of Illinois accused Chicago-based Grubhub of engaging ‘in an array of unlawful practices’ designed to ‘deceive’ diners and workers alike ...
McKinsey & Company agreed to pay $650 million in a deferred prosecution agreement that will resolve a federal criminal probe into the company’s consulting work advising Purdue Pharma on how to increase sales of its opioid painkiller OxyContin, a court filing said Friday. A former top partner at McKinsey, Martin Elling, also agreed to plead guilty to obstruction of justice next month in the probe by the ...
Startup basketball league Unrivaled announced on Monday it’s closed a Series A funding round, raising an additional $28 million before its inaugural season. “Our players haven’t even taken the court yet and the foundation we are building with our partners unites unparalleled expertise, strategic insight, and an incredible product,” Unrivaled President Alex Bazzell said in a press release. “Together, we’re setting the ...
CrowdStrike moved Monday evening to dismiss Delta Air Lines’ lawsuit around the July cybersecurity outage that led to canceled flights and stranded passengers, arguing that the airline’s litigation was an attempt to circumvent the contract between the two companies. The agreement between CrowdStrike and Delta includes a clause limiting CrowdStrike’s liability and a cap on damages, which the cybersecurity provider says Delta is ...
Walmart has started giving store-level associates body cameras to wear as part of a pilot program at some of its U.S. locations, CNBC has learned. It’s not clear how many of Walmart’s stores have the recording devices, but some locations now have signs at entry points warning shoppers that it has “body-worn cameras in-use,” according to witnesses and photos posted online. ...
The former head of Ozy Media has been sentenced to 10 years in prison for his role in an alleged fraud involving the failed content startup. Carlos Watson was facing a maximum of 37 years in prison after his July conviction on securities and wire fraud charges. Prosecutors had sought a 17-year sentence and multimillion-dollar forfeiture to the government. “The ...
A rocky year for restaurants separated the industry’s biggest chains into winners and losers, as eateries competed for a smaller pool of customers who have grown more discerning about how they spend their dollars. “I’ve been eating out less this year — it tastes just as good, and it’s way cheaper,” said Jennifer Jennings, who works in sales in Tulsa, ...
McKinsey & Company agreed to pay $650 million in a deferred prosecution agreement that will resolve a federal criminal probe into the company’s consulting work advising Purdue Pharma on how to increase sales of its opioid painkiller OxyContin, a court filing said Friday. A former top partner at McKinsey, Martin Elling, also agreed to plead guilty to obstruction of justice next month in the probe by the ...
President-elect Donald Trump and the head of Japanese tech conglomerate SoftBank, Masayoshi Son, will announce a $100 billion investment effort designed to spur artificial intelligence and related infrastructure projects. The effort, first reported by CNBC, will attempt to create 100,000 jobs over four years. Trump and Son announced a similar initiative in 2016 after Trump was elected president for the ...
Within a day of their $25 billion merger’s falling apart in court, Kroger and Albertsons were each planning to move forward with share repurchases to boost their stock prices and reward investors. America’s two largest grocery store operators had argued that they’d be better able to lower prices for shoppers by joining forces. Doing so, they said, would boost their ...