CDK says 'small initial test group' brought live on its Dealer Management System

CNN Business
What to know about the massive car dealership outage
CDK Global is still down heading into the brisk car-selling Fourth of July holiday next week. Auto dealerships use its software to manage everything from scheduling to records, and the mass outage since last week has paralyzed nearly 15,000 dealerships across North America.
Reuters
India opposition asks Modi government to question Foxconn hiring practices
India's opposition Congress urged Prime Minister Narendra Modi's government on Saturday to question Foxconn about its hiring practices after Reuters reported that the Apple supplier rejects married women from iPhone assembly jobs in the country. The government has sought a detailed report from the state of Tamil Nadu, site of a major iPhone factory where Reuters uncovered Foxconn's hiring practices. The story has sparked debates on TV channels, newspaper editorials and calls from women groups, including within Modi's party, to investigate the matter.
Associated Press
Eagles singer Don Henley sues for return of handwritten ‘Hotel California’ lyrics
Eagles singer Don Henley filed a lawsuit in New York on Friday seeking the return of his handwritten notes and song lyrics from the band’s hit “Hotel California” album. The civil complaint filed in Manhattan federal court comes after prosecutors in March abruptly dropped criminal charges midway through a trial against three collectibles experts accused of scheming to sell the documents. The Eagles co-founder has maintained the pages were stolen and had vowed to pursue a lawsuit when the criminal case was dropped against rare books dealer Glenn Horowitz, former Rock & Roll Hall of Fame curator Craig Inciardi and rock memorabilia seller Edward Kosinski.
Reuters
Apple's iPhone shipments in China surge 40% in May amid aggressive discounting
BEIJING (Reuters) -Apple's smartphone shipments in China rose nearly 40% in May from a year earlier, extending a rebound seen in April, data from a research firm affiliated with the Chinese government showed on Friday. Shipments of foreign-branded phones in China increased by 1.425 million in May to 5.028 million units from 3.603 million a year earlier，calculations based on the data from the China Academy of Information and Communications Technology (CAICT) showed. Although the data did not explicitly mention Apple, the company is the dominant foreign phone maker in China's smartphone-dominated market.
Evening Standard
Investigation after Ryanair Boeing 737 Max plunges 2,000ft in 17 seconds during flight to London Stansted
An investigation was launched after a Boeing 737 Max flown by Ryanair plunged at alarming speed during its final approach to London Stansted Airport, it has emerged.Flight data reveals that on December 4 last year, flight FR1269 dropped more than 2,000ft in a mere 17 seconds.
Reuters
Binance must face bulk of US SEC crypto lawsuit, judge rules
The decision by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia deals a blow to Binance, which had asked the court to toss the SEC's lawsuit that alleges Binance and its founder and former CEO Changpeng Zhao broke securities laws. The SEC's suit filed against Binance in June 2023 accused the exchange and Zhao of artificially inflating its trading volumes, diverting customer funds, failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls.
Reuters
AI deals between Microsoft and OpenAI, Google and Samsung, in EU crosshairs
BRUSSELS (Reuters) -Microsoft's partnership with OpenAI could face an EU antitrust investigation as regulators singled out their exclusivity clauses while Google's artificial intelligence deal with Samsung also triggered scrutiny. EU antitrust regulators will seek additional third-party views, EU competition chief Margrethe Vestager said on Friday. Vestager in March sent questionnaires to Microsoft, Google, Meta's Facebook and ByteDance's TikTok as well as other big tech companies related to their AI partnerships.
Reuters
Nike plots $100 sneaker line as shares plunge in worst-ever drop
(Reuters) -Nike will roll out new $100-and-under sneakers in countries around the world, its chief financial officer said Thursday, as the sportswear giant tweaks its product lineup in a plan aimed at getting sales back on track. Nike has significantly hiked the list price of its top-end Air Jordan 1 sneakers in recent years. Top-end Air Force 1 sneakers meanwhile sell for about $150 on Nike's website.
Reuters
Visa, Mastercard can likely handle settlement much bigger than $30 billion, judge says
A federal judge said Visa and Mastercard can likely withstand a "substantially greater" settlement with merchants who said they overpaid on swipe fees than the $30 billion accord she rejected this week. U.S. District Judge Margo Brodie in Brooklyn made her assessment in an 88-page opinion released on Friday, three days after announcing her rejection of the preliminary settlement. The accord covering more than 12 million merchants would have lowered and capped swipe fees, also known as interchange fees, they pay to handle Visa and Mastercard transactions.
TechCrunch
Following raft of consumer complaints, Shein and Temu face early EU scrutiny of DSA compliance
Ultra-low-cost e-commerce giants Shein and Temu have only recently been confirmed as subject to centralized enforcement of the strictest layer of the European Union's digital services regulation, the Digital Services Act (DSA), but on Friday the Commission announced it's sent a bunch of requests for information (RFI) to both platforms vis-à-vis to their compliance with various requirements of the law. The DSA is the bloc's recently rebooted online rulebook which aims to raise standards on digital services including marketplaces -- with lawmakers touting the regime as their tool of choice to shrink consumer risks in areas like the sale of illegal or dangerous goods.
GOBankingRates
I’m a Financial Expert: Here’s What My Clients Always Get Wrong When Trying for Early Retirement
Here's a somewhat morbid reality: The full retirement age (FRA) is 66 or older, depending on when you were born. The average life expectancy in the U.S. is about 77, as of 2022. So, if you retire at...
Reuters Videos
NFL faces $4.7 bln hit in 'Sunday Ticket' antitrust
STORY: The NFL must pay more than $4.7 billion in class-action damages for overcharging subscribers to its “Sunday Ticket” telecasts. That was the verdict of a California federal jury on Thursday, after a decade of litigation. Jurors agreed with plaintiffs, who had argued that the league conspired to inflate the price of the service. They argued that the cost was deliberately raised to limit subscribers, and prevent broadcasters like CBS and Fox from losing viewers for their free-to-air games. Sunday Ticket lets fans to watch out-of-market games for an annual feeGames that are 'out-of-market' are not shown nationally, and fans may be unable to watch them where they live, often because of exclusivity rights.However, Sunday Ticket made them buy a bundle of games - even if they may only want to watch one.The case covers a period starting in 2011, when the service was run by DirecTV, a unit of AT&T. It now costs up to $449 per year under its new operator, Google’s YouTube. Neither firm is a defendant in the case. The NFL said it was disappointed by the verdict, and would definitely contest it. It called the case “baseless and without merit”. But things could yet get worse for the league operator. Under U.S. antitrust law, a judge could triple the damages, bringing the total hit to over $14 billion. The class action case covers some 2.4 million residential customers, as well as thousands of bars and restaurants that showed games.
Reuters
Oil prices to stay steady as China demand woes offset Mideast risks
(Reuters) -Oil prices will not change much in the second half of 2024 as concerns around demand from China and prospects of higher supply from key producers counter risks from geopolitical tensions, a Reuters poll indicated on Friday. A poll of 44 analysts and economists surveyed by Reuters in the last two weeks forecast the global benchmark, Brent crude , would average $83.93 per barrel in 2024, just shy of the $84.01 consensus in the previous month's poll. Brent crude futures have averaged $83.4 thus far in 2024, after brief spikes to as high as $92.18, driven by supply risks due to the conflict in the Middle East.
Barrons.com
Apple Will Be the ‘Leader’ of the AI Consumer Experience
Apple stock will continue to rise as the company’s generative artificial intelligence products, set to launch this fall, lead to an acceleration of growth in revenue and earnings, an Oppenheimer analyst says. Analyst Martin Yang increased his price target for Apple to $250 from $200, which implies a 21% increase from the stock’s closing price of $214.10 on Thursday. Yang wrote on Friday that he expects the stock to rise based on optimism over the company’s AI initiatives and how they are geared toward the consumer experience.
Reuters
Texas wins court block on Biden overtime pay rule
(Reuters) -A federal judge in Texas on Friday temporarily blocked a Biden administration rule from taking effect that would extend mandatory overtime pay to 4 million salaried U.S. workers. U.S. District Judge Sean Jordan in Sherman, Texas, said the U.S. Department of Labor rule that is set to go into effect on Monday improperly bases eligibility for overtime pay on workers' wages rather than their job duties. Jordan, an appointee of Republican former President Donald Trump, blocked the Labor Department from applying the rule to state workers in Texas pending the outcome of a legal challenge by the Republican-led state.
GOBankingRates
I Retired At 40: Here’s What My Salary Was
Early retirement is a dream that most people don't even allow themselves to consider, because it requires an incredible amount of planning and savings to make happen. Yet others, like those who...
CNN Business
Here’s what it means when a company like Boeing faces criminal charges
Criminal charges against a corporation, like the ones the Justice Department is considering bringing against Boeing, would be a serious blow, worsening the company’s already precarious financial situation and further damaging its battered reputation. But it wouldn’t necessarily result in past or current executives facing prison time.
The Independent
I was at the Trump-Biden presidential debate and it became very clear what had gone wrong
When the debate ended, the Biden surrogates were nowhere to be found — until they emerged, grim-faced, as a group, and the rumors began. Andrew Feinberg reports on what happened behind the scenes at the first presidential debate in Atlanta, Georgia — and why the president’s performance went so badly
People
Tom Cruise and Son Connor Spend Time Together in London During Rare Outing
The actor is a father to three children
The Guardian
Who could replace Joe Biden? Here are six possibilities
With Biden not yet officially endorsed as Democratic presidential candidate, it is in theory open to the party to choose another candidate

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CDK says 'small initial test group' brought live on its Dealer Management System

Latest stories

What to know about the massive car dealership outage

India opposition asks Modi government to question Foxconn hiring practices

Eagles singer Don Henley sues for return of handwritten ‘Hotel California’ lyrics

Apple's iPhone shipments in China surge 40% in May amid aggressive discounting

Investigation after Ryanair Boeing 737 Max plunges 2,000ft in 17 seconds during flight to London Stansted

Binance must face bulk of US SEC crypto lawsuit, judge rules

AI deals between Microsoft and OpenAI, Google and Samsung, in EU crosshairs

Nike plots $100 sneaker line as shares plunge in worst-ever drop

Visa, Mastercard can likely handle settlement much bigger than $30 billion, judge says

Following raft of consumer complaints, Shein and Temu face early EU scrutiny of DSA compliance

I’m a Financial Expert: Here’s What My Clients Always Get Wrong When Trying for Early Retirement

NFL faces $4.7 bln hit in 'Sunday Ticket' antitrust

Oil prices to stay steady as China demand woes offset Mideast risks

Apple Will Be the ‘Leader’ of the AI Consumer Experience

Texas wins court block on Biden overtime pay rule

I Retired At 40: Here’s What My Salary Was

Here’s what it means when a company like Boeing faces criminal charges

I was at the Trump-Biden presidential debate and it became very clear what had gone wrong

Tom Cruise and Son Connor Spend Time Together in London During Rare Outing

Who could replace Joe Biden? Here are six possibilities