Two former ByteDance employees are accusing TikTok's parent company of retaliating against them after filing complaints.
Driving the news: Nnete Matima and Joël Carter filed a complaint with the Equal Employment Opportunity Commission Thursday, alleging they were fired last month for making complaints of racial discrimination at ByteDance.
After years of holiday pricing hikes, the United States Postal Service said it won't levy any additional surcharges during the peak 2023 holiday season.
The big picture: It's a surprise move for USPS — which has raised stamp prices three times in 12 months — since UPS and FedEx have already announced surcharges for the upcoming peak season.
Billionaire Rupert Murdoch announced Thursday he will step down as chairman of Fox Corp. and News Corp., ending his reign as one of the wealthiest media moguls of all time.
Why it matters: Murdoch, 92, built his fortune through a series of pragmatic and ruthless maneuvers that earned him a reputation as one of the most successful dealmakers in the media industry.
The Federal Trade Commission on Thursday filed suit against private equity firm Welsh Carson Anderson & Stowe (WCAS), accusing it of suppressing competition and driving up prices for anesthesiology services in Texas.
Why it matters: This could be the tip of an antitrust spear aimed at private equity, after decades of avoidance.
The most important takeawayfrom the Federal Reserve yesterday was this: Central bank leaders no longer believe there needs to be major economic pain to keep the economy on the pathway to low inflation.
Why it matters: Interest rates may well be higher for longer than seemed likely before the meeting — and bond markets have priced in exactly that over the last 22 hours. But Fed officials have backed away from their mindset that a significant slump is necessary to vanquish inflation.
Why it matters: Corporate communicators and consultants tasked with ESG messaging are ready to stop spending so much time acting as interpreters and start spending more time integrating their work across the business.
Daniel Roberts is head of communications for BrightDrop, the General Motors subsidiary that is developing electric-powered delivery vehicles used by companies like FedEx and Walmart.
Why it matters: Roberts is responsible for explaining how a 115-year-old automaker is using EV delivery fleets and software to combat climate change.
Pro wrestling magnate Vince McMahon is hinting that he wants out of the family business, according to regulatory filings tied to WWE's recent merger with the UFC.
Driving the news: The new combined entity, TKO, has registered all of McMahon's shares for sale, thus enabling him to avoid the lockup period that applies to other TKO stockholders like Endeavor and Silver Lake.
Japanese automobile exports to the U.S. have surged this year. They were 50% higher, in yen terms, during August compared with the same month last year — and it was the seventh straight month of double-digit gains.
What's happening: The yen has weakened by nearly 13% against the dollar this year, as the Fed's interest rate hikes helped strengthen the greenback.
Why it matters: The share slide suggests that year's market rally may be based in part on unrealistic expectations that the Fed will quickly flip toward cutting rates if the economy continues to look like it could pull off a soft landing.
Allocate, a company enabling clients of wealth advisers and family offices to invest in venture funds, raised $10 million in new funding.
Why it matters: The current fundraising market is an opportunity for venture firms to diversify their limited partner base, and for eager smaller investors to get access to top funds.
The percentage of women who recently gave birth and remained part of the workforce reached a decade-plus high-water mark last year, per new census data.
Why it matters: Motherhood often knocks women out of the labor force, at least temporarily — slowing their career and earnings growth and contributing to the gender pay gap.
There's zero chance that the automakers will reach a labor deal with the UAW before Friday at noon, sources close to the bargaining tell Axios. That's the time at which the union says it plans to kick off strikes at additional factories.
Why it matters: With both sides dug in, a prolonged strike is looking more likely. The question is how much pain UAW president Shawn Fain is prepared to exert on the companies — and how swiftly.
Vivek Ramaswamy, a presidential candidate seeking the Republican nomination, appeared at the Messari Mainnet conference in New York Wednesday to woo the blockchain faithful.
Why it matters: He used his time on stage to reiterate what he called his main campaign priority, to reduce the Federal regulatory workforce using the authority of the chief executive.
Writers including John Grisham and "A Game of Thrones" author George R.R. Martin are suing OpenAI over its ChatGPT technology.
Driving the news: The lawsuit filed late Tuesday in the U.S. District Court for the Southern District of New York alleges that under the Copyright Act of 1976, OpenAI infringed on the registered copyrights of fictional works.
