Business, page 4
Running the thing: costs, suppliers, staff and the paperwork.
Monday, October 19
Ex-OpenAI engineer Abdulrahman Alfozan denied bail over hidden recording device in California
Abdulrahman Alfozan worked at OpenAI for around a year. Prosecutors say he planted a secret recording device behind a meeting room TV. US District Judge Alex Tse denied bail on Monday. He faces up to five years in prison if convicted.
OnDeck report shows 67% of US construction business owners have no college degree
OnDeck analyzed US census data to find industries with non-degree owners. Construction took the top spot at 67 percent without degrees. ZipRecruiter data shows construction owners earn average annual pay of $127,973. Top earners in the sector see salaries reaching as high as $339,500.
A24 documentary about Elizabeth Holmes opens to $15 million
A new documentary from movie company A24 about Elizabeth Holmes opened to $15 million in only 855 theaters. Reporter Julia Boorstin shared the details about the huge debut.
Elon Musk pledges 1 SpaceX share worth $150 to every U.S. child
Elon Musk promised one SpaceX share to every kid in America next year. A single share traded at about $150 on Monday morning. About 73 million children live in the United States under age 18. The total giveaway would reach nearly $11 billion based on current values.
Meta's Muse AI agent shared a Toronto creator's home address during a sale
Robb let Meta's Muse AI agent handle a Facebook Marketplace sale. Muse accepted an offer and gave out his home address. A stranger showed up outside his house late at night. The bot even sent automated messages from his account without permission.
Ahold Delhaize U.S. grocery websites remain down all week following cybersecurity incident
Ahold Delhaize digital sales grew more than 14 percent in its recent quarter. A multi-day cyber outage has kept websites down across five U.S. supermarket chains. Shoppers can only order online through third-party apps like DoorDash and Uber Eats.
Character.ai files for Chapter 11 bankruptcy and seeks sale after legal battles
Chatbot provider Character.ai filed for Chapter 11 bankruptcy protection. The company cited significant legal, regulatory and operational headwinds. The Walt Disney Co. Agreed to pay $20 million for a license.
Former Fidelity manager Adam Benjamin sues after leaving for Michael Dell family office
Adam Benjamin managed a $48 billion fund at Fidelity Investment Management. He left for Michael Dell family office DFO Management on October 1. Fidelity fired him and withheld a multimillion-dollar compensation package using a non-compete clause.
NJEDA expands Food Desert Relief Tax Credit Auction funding to $30 million in Trenton
The New Jersey Economic Development Authority expanded tax credits to $30 million. Bidders can offset their New Jersey tax liability by up to 15 percent. Corporate taxpayers and insurance companies qualify for the auction. Applications close on Friday, October 9, 2026, at 5 p.m.
Comcast hit with $213 million streaming video verdict in California court
A California jury hit Comcast with a huge verdict today. The cable giant lost a patent fight over streaming video tech. The penalty reached $213 million after a long legal battle. Check your vendor contracts if you build video platforms. Patent risks keep growing across the tech sector.
KFC switches from Pepsi to Coca-Cola after 40 years across U.S.
KFC is dropping PepsiCo after 40 years for a new deal with Coca-Cola. The switch starts in January 2027 at U.S. restaurants. All locations will pour Coke products by the spring of 2027. PepsiCo bought KFC back in 1986 and kept the pouring rights ever since.
FDA recalls over 100,000 bottles of acetaminophen sold on Amazon nationwide
Check your medicine cabinet for recalled acetaminophen bottles today. Over 100,000 bottles sold on Amazon face a nationwide recall. Customers reported finding discolored tablets inside their medicine bottles. Review your orders to see if you have the affected batches.
40 state attorneys general demand child data protections in Character.AI bankruptcy
Character.AI just filed for bankruptcy in Delaware court. Forty state attorneys general are demanding strict child data protections. New York Attorney General Letitia James warned about private teen conversations being sold off. Disney agreed to pay $20 million to license the chatbot technology.
Albertsons hires former Walmart executive Steve Shee to cut $1.5 billion in costs
Steve Shee just left Walmart to run operations at Albertsons. He takes over a massive three-year plan to save cash. The retail giant wants to cut $1.5 billion in expenses. He steps in as the previous media head walks out the door.
Construction material prices jump 11.2% in 12 months according to Associated Builders and Contractors
Construction input prices jumped 2.2% in September. Prices are up 11.2% over twelve months. Crude petroleum prices increased 28.3% for the month. Over one in four contractors expect lower profit margins.
Sunday, October 18
Anthropic commits 5% of its shares to public benefit fund
Artificial intelligence giant Anthropic is setting aside five percent of its shares. The fund will donate money to nonprofits and help workers affected by artificial intelligence. The move comes as the company prepares for a massive stock market listing.
U.S. Chamber of Commerce updates weekly list of federal grants and funding programs
Finding money for your growing business can be a daily challenge. The U.S. Chamber of Commerce updates its weekly list of active grants. Thousands of federal opportunities are waiting for qualified companies to apply. Check the database to see what funding matches your specific industry today.
Microsoft pulls out of £2bn AI data centre project in Loughton
Microsoft just pulled out of a massive £2bn AI data centre project in Loughton. Nscale planned to open the huge facility by the end of this year. Power delays pushed the electricity supply back to the 2030s. The tech giant dropped its funding for the site supercomputer.
Truist sells $7.7B in LightStream loans and replaces consumer banking chief
Truist is selling $7.7 billion in personal loans to Carlyle. Dontá Wilson is leaving his post as consumer banking head. Shimna Sameer and Jeff Warner will step into new leadership roles. The bank wants to focus on core deposits and boost profits. This turnaround is led by CEO Mike Lyons.
Nike builds a new global campus in Bengaluru, India, targeting $332.94 billion market
Nike reported its fiscal first-quarter earnings on Oct. 1 with a major international expansion plan. The sneaker giant will create a new global campus in Bengaluru, India, for corporate and brand roles. CEO Elliott Hill calls the facility a long-term investment to revive lagging sales.
Porch Group acquires Allied Trust in $200 million deal
Porch Group just bought Allied Trust for $200 million. The big deal adds a major southern Insurance carrier. Louisiana alone accounts for half its 2025 premiums. The purchase aims to expand home Insurance operations.
SoftBank weighs $18 billion acquisition of security giant Allied Universal
SoftBank Group is weighing an $18 billion buyout of Allied Universal. The security giant guards major venues and data centers across the country. SoftBank wants to replace human guards with AI robots over time. Deliberations remain preliminary with no final decisions reached yet.
Lego uses e-methanol to make over 90 products and cut fossil fuels
Lego started using e-methanol to make over 90 products. The low-carbon fuel uses renewable energy and recycled carbon dioxide. The toymaker spent five years testing the new material. Now steering wheels and Minifigure hands are made with it.
US Food and Drug Administration issues warning letters to drug manufacturers for manufacturing violations
The US Food and Drug Administration issued warning letters to several drug makers. Inspectors found failures in maintaining sterile conditions and good laboratory practices. Jiangmen Shuizirun Sanitary Articles and Hanlim Pharm received citations for contamination risks.
Small Business Administration rewrites 7(a) loan rules with manual underwriting and collateral changes
Small Business Administration loans just got harder to get. Automated credit scoring ended on March 1, 2026. Every small loan now needs full manual underwriting. Clean books and airtight bank statements are now essential.
Scott and Elena Shleifer give $20 million to University of Pennsylvania for financial aid
Scott and Elena Shleifer just gave twenty million dollars to the University of Pennsylvania. The massive gift targets undergraduate financial aid and middle income students. Twelve million dollars will create a new scholars program for tuition free support.
Albertsons expands board to 15 members with Levi Strauss executive Harmit Singh
Albertsons just added its fifth new board member since September. Harmit Singh from Levi Strauss joins a growing fifteen person team. The supermarket chain is reviewing its entire business to fix falling profits.
SBA loans do not vanish in bankruptcy according to NerdWallet
Small business owners facing bankruptcy find SBA loans do not disappear. Chapter 7 liquidation sells assets to repay secured loans. Personal guarantees leave you on the hook for unpaid balances. Unpaid debts can trigger Treasury Department collection and wage garnishment.
Saturday, October 17
Albion College receives $10 million gift from Joe and Julie Serra
Joe and Julie Serra just gave Albion College a $10 million unrestricted gift. It is the largest outright gift in the school history. The money lets the College invest in student scholarships and new learning programs. The Serras also agreed to co-chair the school fundraising campaign.
Tesla unveiled a new Roadster electric sports car with thrusters in Texas
Tesla just unveiled a new Roadster electric sports car in Texas. It is equipped with thrusters for hovering and turning in mid-air. CEO Elon Musk presented the vehicle at a SpaceX facility. He showed a demonstration of the car driving up a ramp and landing with air jets.
