BUSINESS HEADLINES

Former executive sues Meta over attempts to ‘silence’ her memoir, ‘Careless People’

A former Meta executive whose memoir, “Careless People,” provides an explosive insider account of her time at the social media giant, has sued the company for attempting to “silence” her. The lawsuit was filed in federal court in Northern California on Thursday. It claims the tech giant’s private arbitration order preventing her from speaking out about the company or promoting her bestselling book is invalid. It also argues that the severance agreement she signed when she left Meta was done under duress.

Supreme Court ruling blocks thousands of lawsuits against the maker of Roundup weedkiller

WASHINGTON (AP) — The Supreme Court has sided with the maker of Roundup weedkiller, blocking thousands of lawsuits alleging it failed to warn users the product could cause cancer. The decision on Thursday is a victory for the Trump administration but could complicate relations with allies who want to limit pesticide use. The court ruled that federal regulations finding a cancer link unlikely protect the company from state lawsuits. Roundup manufacturer Bayer disputes the cancer claims but has set aside billions of dollars to settle cases. Bayer says the ruling is good for science and farmers. Lawyers for some residents pursuing cases say the ruling “wrongly slams the courthouse door on Americans sickened by pesticides.”

Apple increases prices for Macs and iPads, blaming a shortage of memory chips

Apple on Thursday announced an increase in prices for Macs and iPads, citing a memory chip shortage brought on by the artificial intelligence boom. The Cupertino, California-based company called the demand spike an “unprecedented challenge” for the consumer electronics industry. The new, entry-level MacBook Neo will now cost $699, up from $599. The 512 gigabyte MacBook Air now costs $1,299, up from $1,099. The one terabyte MacBook Pro is $1,999, up from $1,699. The 128 gigabyte iPad Air is now $749, up from $599, while the 256 gigabyte iPad Pro Wifi is now $1,199, up from $999. Analysts expect iPhone prices to rise later this year.

Billionaire investor Leon Black is set to testify to Congress about $158M in payments to Epstein

WASHINGTON (AP) — House lawmakers are set to question billionaire investor Leon Black as part of their investigation into Jeffrey Epstein and the powerful people around him. Black was formerly the chief executive of Apollo Global Management and paid Epstein $158 million from 2012 to 2017 for tax and estate planning services. That’s according to a 2021 review commissioned by Apollo. Black stepped down from Apollo in 2021 amid fallout over his ties to Epstein. With his closed-door deposition on Friday morning, Black will become the latest high-profile figure to appear before the House Oversight Committee.

JPMorgan Chase promotes Petno, Rohrbaugh to copresidents, setting up two more successors for Dimon

NEW YORK (AP) — JPMorgan Chase promotes Doug Petno and Troy Rohrbaugh to copresidents, positioning them as potential successors to the bank’s longtime CEO Jamie Dimon. Marianne Lake, a previous contender, will retire at the end of the year. The bank’s board appears to be focusing on its commercial and investment banking sectors for future leadership. Petno and Rohrbaugh have diverse backgrounds within the company, with Petno in advisory roles and Rohrbaugh in trading. Dimon, who has been CEO since 2006, has faced health issues but remains committed to his role running the nation’s largest bank.

Newsom urges a national ‘billionaires’ tax’ while fighting one in California

California Gov. Gavin Newsom is calling for a national “billionaires’ tax” and suggests the U.S. government should own a stake in AI companies. He warns that urgent reform is needed to prevent wealth concentration from harming democracy. Newsom’s proposal aligns him with the populist left as he considers a 2028 presidential run. He proposes a minimum tax on those with over $100 million in net worth and wants to prevent the wealthy from borrowing against stock portfolios tax-free. Newsom opposes a California measure taxing billionaires, arguing the issue should be addressed federally to prevent billionaires from leaving the state.

Supreme Court strikes down Hawaii law requiring permission to carry guns in stores and hotels

WASHINGTON (AP) — The Supreme Court has struck down a Hawaii law requiring people to get permission to carry guns into places such as stores and hotels. The Thursday decision is the high court’s latest ruling backing Second Amendment rights. President Donald Trump’s Republican administration opposed the law, arguing that Hawaii had violated gun rights by effectively banning them from a wide range of places generally open to the public. Hawaii, on the other hand, said the 2023 measure was aimed at protecting the rights of property owners. The decision doesn’t stop businesses from taking their own steps to ban guns on their property.

National pride meets breathable mesh: A look at the design of World Cup uniforms

BEAVERTON, Ore. (AP) — In designing the uniforms for this year’s World Cup, Nike and other apparel makers sought to channel national pride and maximize comfort. Heat and humidity were top of mind in designing jerseys and other apparel for this year’s tournament in North America. Temperatures have hovered around 90 degrees Fahrenheit in some locations. The Associated Press visited Nike headquarters just outside Portland, Oregon, for a glimpse into the design process. Its test facility there features motion-capturing cameras and thermal chambers.

Key inflation gauge jumps to 3-year high in latest sign of affordability challenges

WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge rose to a new three-year high in May as gas prices peaked, a sign rising costs could pose political problems for President Trump as midterm elections near. The increase was largely driven by more expensive gas, as well as pricier semiconductors and other computer equipment that are in high demand for the AI buildout. Rising prices have caused the inflation-fighters at the Federal Reserve to keep their key rate unchanged this year, a reversal from January when they had penciled in two cuts. Some economists forecast the central bank could lift rates this year instead.