Amazon drivers get $60 million in withheld tips back, FTC says

Amazon drivers get $60 million in withheld tips back, FTC says

More than 140,000 drivers are getting $60 million in tips that were illegally withheld by Amazon (AMZN.O) between 2016 and 2019, the Federal Trade Commission said on Tuesday. Earlier this year, the agency sued the tech giant and its subsidiary, Amazon Logistics, alleging the company failed to fully pay tips that drivers in its Amazon…

Refiner Marathon warns natgas rally may hurt profits, shares fall

Refiner Marathon warns natgas rally may hurt profits, shares fall

Marathon Petroleum Corp (MPC.N) signaled on Tuesday that a sustained rally in natural gas prices could take a toll on earnings, sending the largest U.S. refiner’s shares down 4%. The warning comes after U.S. natural gas prices soared more than 60% in the third quarter — translating into higher costs since natgas is used to…

Italian watchdog drops Google display adv case as EU antitrust investigates

Italian watchdog drops Google display adv case as EU antitrust investigates

Italy’s competition watchdog said on Tuesday it had dropped a probe into Alphabet’s Google (GOOGL.O) alleged abuse of its dominant position in the online display advertising market after the EU antitrust started a similar investigation. The Italian watchdog decided non to take any action as under EU laws the case is now out of its…

ConocoPhillips profit powered by crude price rally

ConocoPhillips profit powered by crude price rally

ConocoPhillips (COP.N) on Tuesday posted a quarterly profit that trounced market expectations as supply bottlenecks and a global economic recovery helped drive a rebound in crude prices. Oil prices have gained nearly 63% since the start of 2021, with global crude benchmark Brent rising above $86 a barrel to its highest level in about three…

Stellantis offers early retirement program to eligible U.S. employees

Stellantis offers early retirement program to eligible U.S. employees

Stellantis NV (STLA.MI), the world’s fourth-largest automaker, is offering voluntary retirement program to pension-eligible employees in the United States, the company said late Monday. The Netherlands-based firm said the early retirement is available to workers who are at least 55 years old and have been with the company for 30 years or who are at…

Tesla’s Elon Musk bemoans German red tape, again

Tesla’s Elon Musk bemoans German red tape, again

Tesla Inc (TSLA.O) Chief Executive Elon Musk took to Twitter to bemoan a consultation process launched on Tuesday for local citizens to express objections to a huge factory he is building near Berlin. The process, being repeated over concerns the first time around did not comply with regulations, is a snag in Tesla’s plans to…

Prudential Financial profit beats estimates on life, annuity strength

Prudential Financial profit beats estimates on life, annuity strength

Prudential Financial Inc (PRU.N) beat Wall Street estimates for quarterly adjusted profit on Tuesday, as a strong performance at the U.S. insurer’s life and annuity units offset weakness in its investment business. PGIM, Prudential’s asset management arm, reported a nearly 12% fall in adjusted operating income to $327 million, the company said, while assets under…