The California Department of Motor Vehicles is accusing Tesla Inc. of falsely advertising the capabilities of its self-driving technology.

Two complaints filed July 28 show that the DMV is seeking changes in the way Tesla TSLA,

Share of United Parcel Service Inc. gained 0.6% in premarket trading Monday, after the package delivery giant confirmed overnight a deal to buy Italy-based healthcare logistics provider Bomi Group for an undisclosed sum. The Wall Street Journal had reported over the weekend that UPS was nearing a deal to buy Bomi for "several hundred million dollars." UPS said the deal, which is expected to close by the end of the year, will add more than 350 temperature-controlled vehicles and 4 million square feet to the UPS Healtcare business. "As a leading global healthcare logistics company, Bomi enhances our portfolio of services...

The pace of the stock market’s rise as it continues a bounce off the June lows is nearing a magnitude that’s presaged “huge” moves in the past. The dilemma for investors is that those moves can be in “either direction,” analysts at Jefferies observed in a weekend note.

Through Friday, the S&P 500 SPX has bounced more than 13% off its 2022 closing low of 3,666.77, set on June 16. While the S&P 500 remains in a bear market, having tumbled more than 20% from its Jan. 3 record close, the Dow Jones Industrial Average DJIA will...

Emerson Electric Co. said Monday it agreed to sell its InSinkErator garbage disposal business to Whirlpool Corp. for $3 billion. The deal values the business at less than six times its trailing 12-month revenue of $595 million, or 18.1 times earnings before interest, taxes, depreciation and amortization (Ebitda). Whirlpool said the transaction will add about $1.25 in earnings per share to its bottom line in fiscal 2023. Emerson originally acquired InSinkErator, the world's largest manufacturer of food waste disposers and instant hot water dispensers for home and commercial use, in 1968. Shares of Emerson Electric rose...

Oil futures fell Monday as worries over crude supply appeared to fade and demand worries remained in place, after both the U.S. and global benchmarks sank to their lowest since February last week.

As the market heads into the new week, the attention is still very much on Friday’s jobs report showing an unexpected 528,000 increase in nonfarm payrolls. “It was quite a surprise to me,” said Dennis Gartman, the retired publisher of the Gartman letter and now the chairman of the University of Akron’s endowment and investment committee, in an interview with Bloomberg Radio.

He said the jobs numbers show there’s no Fed pivot in sight. Gartman said he expects not just a 75 basis point rate hike in September, but another 75...

has reached an agreement to buy Global Blood Therapeutics Inc. [s :gbt] in a deal valued at $5.4 billion, the Wall Street Journal reported, citing people familiar with the matter. The news comes after the Journal reported Friday that the two were in advanced talks. Pfizer will pay $68.50- a share in cash for Global Blood Therapeutics, which has one of few approved treatments for sickle-cell disease. The companies are expected to announce the deal later Monday. Global Blood Therapeutics shares rose 1.8% in premarket trade Monday, and are up 118% in the year to date, while the S&P 500 SPX,

The yield on the 2-year Treasury TMUBMUSD02Y slipped by 1.2 basis points to 3.206%. Yields move in the opposite direction to prices. The yield on the 10-year Treasury TMUBMUSD10Y retreated 2.7 basis points to 2.808%. The yield on the 30-year Treasury TMUBMUSD30Y fell 3.2 basis points to 3.040%.

The U.S.-listed shares of Germany-based BioNTech SE sank 8.2% in premarket trading Monday, after the biotechnology company and Pfizer Inc. partner in developing a COVID-19 vaccine reported second-quarter profit and revenue that fell below expectations but affirmed its full-year COVID-19 revenue outlook. Net income dropped to EUR1.67 billion ($1.70 bln), or EUR6.45 a share, from EUR2.79 billion, or EUR10.77 a share, in the year-ago period. The FactSet consensus for earnings per share was EUR7.08. Revenue fell to EUR3.20 billion ($3.26 billion) from EUR5.31 billion, missing the FactSet consensus of EUR3.88 billion. Under...

partner in developing a COVID-19 vaccine reported second-quarter profit and revenue that fell below expectations but affirmed its full-year COVID-19 revenue outlook. Net income dropped to EUR1.67 billion ($1.70 bln), or EUR6.45 a share, from EUR2.79 billion, or EUR10.77 a share, in the year-ago period. The FactSet consensus for earnings per share was EUR7.08. Revenue fell to EUR3.20 billion ($3.26 billion) from EUR5.31 billion, missing the FactSet consensus of EUR3.88 billion. Under collaboration agreements with Pfizer and Shanghai Fosun Pharmaceutical Co. Ltd., BioNTech's commercial revenue included EUR1.99 billion gross profit share. "BioNTech believes the development of the pandemic remains dynamic, causing a re-phasing of orders and with this leading to fluctuations in quarterly revenues," the company said in a statement. "This revenue fluctuation caused by the re-phasing of orders is expected to remain over the rest of the financial year with an uptake in demand in key...

Microchip shortages, fuel price hikes, supply chain issues, ports clogged with ships — it seems like the whole world is conspiring to make it harder to find and afford a car these days. Fortunately, most major brands still have plenty of vehicles to sell, even if you might have to wait a week or two to find your exact match. But availability is the easy part of the puzzle — which car should you pick?

Maybe you can take the easy route and crowdsource the decision by falling back on our 10 hottest cars of the summer, a list...

Volkswagen has made some big changes to its ID.4 electric vehicle for 2023.

They start with a dramatic price cut. The 2022 ID.4 starts at $41,230, plus $1,295 delivery fee. The 2023 model will start at $37,495 – a $3,735 price cut. VW VWAGY has kept the delivery charge steady, even at a time when many automakers are raising destination fees to account for soaring fuel costs.

The...

U.S. stock futures rose on Monday as investors continued to shrug off the prospects for faster Fed tightening amid hopes a strong labor market signals the U.S. economy remains healthy.

The U.K.'s Financial Reporting Council regulator said Monday that it has handed PricewaterhouseCoopers a fine over its accounting audit of BT Group PLC in fiscal 2017.

The regulator said PwC has admitted breaches of requirements regarding athe ccounting adjustments between the current and prior years disclosed by BT for the fiscal year ended March 31, 2017 and failed to adequately document them following the identification of fraud in BT's Italian operations in 2016.

For Menyuan Jordan, taking care of her three children while juggling a career that she loves has been like walking a tightrope. 

Being in the mental-health field, Jordan, a social worker in Austell, Ga., knows the value she provides with her work as a community therapist. But she can’t fully focus on work; her children need her at home.

During...

BOSTON (Project Syndicate)—Environmental tariffs may be humanity’s last hope for mitigating climate change, which is on course to become increasingly devastating if we do not curb our greenhouse-gas (GHG) emissions.

The most straightforward way to confront this unprecedented global threat is through a multilateral agreement that locks in a “green transition” in all (or most) countries. The key is to boost renewable-energy production while significantly reducing fossil-fuel consumption, a process that calls for coordinated policies on three fronts: regulation, subsidies for cleaner technologies (including renewables), and carbon taxes.

Top state and local pension funds lost $250 billion on the markets during the month of June and are down more than $600 billion for the year, according to a new study.

The 100 biggest public sector pension funds were a staggering $1.5 trillion underfunded by the end of June, according to the latest survey by analysts at Milliman. That funding gap will ultimately be the responsibility of taxpayers if the pension plans can’t make it up through investments. The gap is equal to more than $11,000 per full-time U.S. worker.

That’s an optimistic Ani Dasgupta, president and CEO of the World Resources Institute, commenting Sunday after U.S. Senate Democrats resurrected an all-but-dead spending bill that included major climate-change action.

Now, that bill, relabeled the Inflation Reduction Act from earlier incarnations as Build Back Better, moves to the House for a Friday vote, where Democrats hold a small majority.

Ageism is wrong. Age discrimination is illegal. But if you are or have been an older job seeker and you suspect your age is a barrier to getting job offers, your instincts aren’t wrong. “Ageism is a real thing,” says David Neumark, economist at the University of California-Irvine, in an interview. “People know it’s out there.”

After a long, loud battle, the victory has come quietly. Over the past few months, deposits have started appearing in the accounts of former truckers, iron workers and other retirees across the country–restoring pension benefits that these people had earned after decades working some of America’s most back-breaking jobs, only to have them ripped away in their retirement years.

After a long, loud battle, the victory has come quietly. Over the past few months, deposits have started appearing in the accounts of former truckers, iron workers and other retirees across the country–restoring pension benefits that these people had earned after decades working some of America’s most back-breaking jobs, only to have them ripped away in their retirement years.

United Parcel Service Inc. is nearing a deal to acquire Italy’s Bomi Group, according to people familiar with the matter, as the transportation giant looks to bolster its medical-product-distribution business.

The deal, worth several hundred million dollars, could be finalized as soon as Monday assuming the talks don’t break down at the last minute, the people said.

Founded...

After a long, loud battle, the victory has come quietly. Over the past few months, deposits have started appearing in the accounts of former truckers, iron workers and other retirees across the country–restoring pension benefits that these people had earned after decades working some of America’s most back-breaking jobs, only to have them ripped away in their retirement years.

From roof-top solar installers to the technicians upgrading your home HVAC and green-minded urban planners, more than 3.2 million Americans now work in “clean energy” as of the start of 2022. And while California remains a leader, hiring has spanned red and blue political states from all regions.

It’s a job total that’s up 5% from a year earlier, says nonprofit advocacy organization — and as it claims, nonpartisan — E2, which stands for Environmental Entrepreneurs.

“This...