Fighters react with confusion, fear, and curiosity to news of a $335 million settlement in the UFC class-action lawsuit, with some expressing disappointment and suspicion about the amount. While some see it as a win for the UFC, others feel it missed an opportunity to change the promotion's business practices. Details on the settlement's distribution and impact on the sport remain to be seen, leaving fighters questioning the future and the possibility of meaningful change.
Superiority Burger, a popular East Village restaurant, has parted ways with its managing partner, Ashwin Deshmukh, following accusations of stealing from a network of people. The restaurant has been sued three times this year, and in a letter to investors, the chef and general manager announced their separation from Deshmukh and a planned internal review of the business’s records. Deshmukh denied many of the allegations detailed in a recent New York Times article and remains a partner at Jean’s, an exclusive downtown nightclub and restaurant.
In 2018, Valve staff discovered that the company was making more money per employee than nearly every tech giant, including Apple and Facebook. This revelation emerged during an antitrust lawsuit filed by indie developer Wolfire against Valve's high revenue cut from game developers on its store. The lawsuit reignited in May 2022, shedding light on Valve's exceptional efficiency. While the company's 30% fees have faced criticism, the judge ruled that they were commensurate with the Steam Platform's value to game publishers. Valve's remarkable financial efficiency raises questions about its business practices and the impact on indie developers.
In a major blow to Donald Trump, a judge has ruled that he and his organization must pay nearly $355m in fines for fraudulently misrepresenting their assets to obtain loans, with Trump's sons and former CFO also facing heavy fines. Trump has been barred from doing business in New York for three years, while his organization will continue to exist under strict oversight. The ruling also includes the appointment of an independent monitor to keep the company in check, and the judge criticized the Trump Organization's business practices as "sloppy."
The Federal Trade Commission (FTC) is reportedly preparing to file an antitrust lawsuit against Amazon next week, targeting the company's alleged harmful business practices that undermine competition and harm consumers. The lawsuit may focus on Amazon's Fulfillment by Amazon program, third-party sellers' pricing, and the expansion of Amazon Prime. If filed, the lawsuit could lead to a lengthy legal battle and potential breakup of Amazon. The FTC has spent the past three years gathering evidence and interviewing witnesses. In a separate complaint, the FTC added three senior Amazon executives to an amended complaint, accusing the company of enrolling consumers into Prime without consent and making it difficult to cancel subscriptions. The FTC's actions and the leadership of chairwoman Lina Khan have drawn criticism, and a lawsuit against Amazon could further fuel the debate over the company's market power.
Despite the controversy surrounding tipping, businesses continue to ask for tips due to a combination of factors including cultural norms, labor laws, and customer expectations. Tipping has become deeply ingrained in the service industry, with many businesses relying on customer gratuity to supplement low wages. However, critics argue that tipping perpetuates inequality and allows businesses to shift labor costs onto customers. As consumer behavior evolves and labor laws change, the future of tipping remains uncertain.
King County Council has voted in favor of an ordinance requiring businesses to accept cash, impacting over 300,000 individuals in unincorporated King County. The proposal aims to protect the rights of the unbanked, who face barriers to accessing basic needs due to cashless business practices. The close 5-4 vote followed months of debate and amendments, including exemptions for certain consumer services and the ability for retailers to apply for exemptions based on theft history and distance to banking services. The new rule will take effect on July 1, 2025.
The European Union has charged Google with violating antitrust laws by using its dominance in online advertising to undercut rivals. This marks the fourth time Google has been charged with violating European antitrust laws in recent years. The EU accused Google of abusing its control of the market for buying and selling online advertising. The outcomes of the cases could have significant implications for Google’s parent company, Alphabet, which reaped most of its $60 billion in profit last year from advertising.
The Federal Trade Commission (FTC) has issued compulsory orders to two group purchasing organizations (GPOs), Zinc Health Services and Ascent Health Services, as part of its ongoing inquiry into pharmacy benefit managers (PBMs) and their impact on the accessibility and affordability of prescription drugs. The orders will require the entities to provide information and records on their business practices, including negotiating drug rebates on behalf of other PBMs. The FTC is investigating several PBM practices, including charging fees and clawbacks to unaffiliated pharmacies, steering patients towards PBM-owned pharmacies, and negotiating rebates and fees with drug manufacturers that may impact the costs of prescription drugs to payers and patients.
The head of the Federal Trade Commission (FTC), Lina Khan, warned that the FTC would not hesitate to crack down on businesses that use AI tools for nefarious purposes, including those that amplify bias or manipulate and deceive people on a large scale. Khan also raised the possibility of the FTC wielding its antitrust authority to protect competition in the AI industry. She expressed concern about tools that scammers could use to deploy fake or convincing content more widely and target specific groups with greater precision.
Former President Donald Trump was grilled for nearly seven hours during his second deposition in the $250 million civil case brought against him by New York Attorney General Letitia James. James claimed Trump and three of his children lied to banks about his net worth and overvalued his assets including his hotels and golf courses by billions. The lawsuit is scheduled to go to trial in October if the suit isn’t settled before then.
Former President Donald Trump answered questions for nearly seven hours during his second deposition in a legal battle with New York’s attorney general over his company’s business practices. The lawsuit claims Trump and his family misled banks and business associates by giving them false information about his net worth and the value of assets such as hotels and golf courses. Trump had previously refused to answer questions, invoking his Fifth Amendment rights more than 400 times. The lawsuit is scheduled to go to trial in October.
