Xiaomi Beat Apple. Now It's Taking on Tesla
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Wall Street Journal
6 minutes ago
- Wall Street Journal
Japan's Inflation Stays Well Above BOJ's 2% Target
Japan's consumer inflation remained well above the central bank's target of 2% in July, reinforcing expectations of a coming interest-rate increase. Consumer inflation excluding volatile fresh food prices climbed 3.1% from a year earlier last month, compared with June's 3.3% rise, government data showed Friday. That was higher than the 3.0% increase expected in a poll of economists by data provider Quick.
Boston Globe
7 minutes ago
- Boston Globe
Walmart sees sales ‘momentum' despite tariffs
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up BRANDING Advertisement Critics deride Cracker Barrel's new logo as 'sterile,' 'soulless' and 'woke' The new Cracker Barrel logo is seen on a menu inside the restaurant in Pembroke Pines, Fla., on Aug. 21. Joe Raedle/Getty Cracker Barrel's stock tumbled Thursday as the restaurant chain faced backlash over a new logo that critics derided as 'woke.' What's 'wrong with @CrackerBarrel??!' Donald Trump Jr. wrote on the social media site, X, on Wednesday evening, quoting another account that accused the company of scrapping a 'beloved American aesthetic and replaced it with sterile, soulless branding.' When the national restaurant chain unveiled the logo on Tuesday, it said the new and more streamlined look was 'rooted even more closely to the iconic barrel shape and word mark that started it all.' Notably, missing was the image of a man in overalls leaning against a wooden barrel that had been part of the company's motif since 1977. But within 48 hours, the redesign backlash was raging online, with commenters on both sides using it as a cudgel. Company CEO Julie Felss Masino has since gone on the offensive, telling ABC's 'Good Morning America' that the 'feedback has been overwhelmingly positive.' She added that 'Cracker Barrel needs to feel like the Cracker Barrel for today and for tomorrow.' In a statement, the company said that its 'values haven't changed, and the heart and soul of Cracker Barrel haven't changed.' It added that the new logo is the fifth iteration since 1969. — WASHINGTON POST Advertisement ENTERTAINMENT Apple boosts price of TV+ subscription by 30 percent to $13 a month Crew member Jose Montes polishes a backdrop with the Apple TV+ logo before the premiere of the web television series "See," at the Regency Village Theatre in Los Angeles in 2019. Chris Pizzello/Invision/AP/file Apple Inc. raised the monthly subscription price of its TV+ streaming platform by 30 percent to $13, part of a push to generate more revenue from services. The rate takes effect in the United States and certain international markets for new subscribers on Thursday, Apple said in an emailed statement. Apple TV+ previously cost $10 per month. The TV+ annual plan will remain $99, and the company isn't changing its price for the Apple One bundle of services. Apple has followed streaming peers in steadily increasing prices. But unlike Netflix, Disney+, and HBO Max, the TV+ service is just offered in a single plan — rather than a range of tiers that include ad-supported versions. Apple TV+ has lagged behind those services in subscriber count since launching in 2019, but its original programming continues to earn accolades. Last month, the company garnered 81 Emmy nominations, with Severance picking up 27 for its second season. — BLOOMBERG NEWS Advertisement AUTOMOTIVE Tesla is slow in reporting crashes and the feds have launched an investigation to find out why A Tesla dealership is seen on July 25 in Austin, Texas. Brandon Bell/Getty Federal auto safety regulators are investigating why Tesla has repeatedly broken rules requiring it to quickly tell them about crashes involving its self-driving technology, a potentially significant development given the company's plans to put hundreds of thousands of driverless cars on US roads over the next year. The National Highway Traffic Safety Administration said in a filing on Thursday that Tesla's reports on 'numerous' incidents involving its driver assistance and self-driving features were submitted far too late — several months after the crashes instead of within five days as required. The probe comes two months after the electric vehicle maker run by Elon Musk started a self-driving taxi service in Austin, Texas, with hopes of soon offering it nationwide. The company also hopes to send over-the-air software updates to millions of Teslas already on the road that will allow them to drive themselves. Investors enthusiastic about such plans have kept Tesla stock aloft despite plunging sales and profits due to boycotts over Musk's support for President Trump and far-right politicians in Europe. The safety agency said the probe will focus on why Tesla took so long to report the crashes, whether the reports included all the necessary data and details, and if there are crashes that the agency still doesn't know about. Tesla did not respond to a request for comment, but the agency noted that the company has told it the delays were 'due to an issue with Tesla's data collection,' which Tesla says has now been fixed. — ASSOCIATED PRESS Advertisement ECONOMY Federal Reserve official says she won't be 'bullied' by Trump into resigning Federal Reserve Governor Lisa Cook. Al Drago/Bloomberg Federal Reserve governor Lisa Cook late Wednesday said she wouldn't leave her post after Trump on social media called on her to resign over an accusation from one his officials that she committed mortgage fraud. 'I have no intention of being bullied to step down from my position because of some questions raised in a tweet,' Cook said in a statement issued by the Fed. Bill Pulte, the head of the agency that regulates mortgage giants Fannie Mae and Freddie Mac and a Trump appointee, alleged on the X social media platform early Wednesday that Cook had claimed two primary residences — in Ann Arbor, Mich., and Atlanta — in 2021 to get better mortgage terms. Mortgage rates are often higher on second homes or those purchased to rent. Trump followed up Pulte's accusation by calling on Cook to resign, in the latest effort by the administration to exert greater control over one of the few remaining independent agencies in Washington. Trump has repeatedly attacked the Fed's chair, Jerome Powell, for not cutting its short-term interest rate, and even threatened to fire him. Cook also said, 'I do intend to take any questions about my financial history seriously as a member of the Federal Reserve and so I am gathering the accurate information to answer any legitimate questions and provide the facts.' — ASSOCIATED PRESS LEGAL Their window seats lacked windows, So Delta and United passengers sued A Delta Air Lines plane takes off from the Fort Lauderdale-Hollywood International Airport on April 9. Joe Raedle/Getty Two lawsuits filed Tuesday accuse Delta Air Lines and United Airlines of knowingly charging passengers extra for window seats that were not next to a window. The class action suits were filed against Delta in federal court in New York and against United in federal court in San Francisco, and accuse each carrier of selling more than 1 million window seats that were, in fact, windowless. 'We're seeking to hold United and Delta accountable for charging customers premiums for products that they didn't deliver, and misrepresenting the nature of the products that they did deliver,' Carter Greenbaum, an attorney whose law firm, Greenbaum Olbrantz LLP, filed the suits, said in an interview. 'They sold customers window seats and ended up seating them next to a wall.' Delta declined to comment. United did not immediately respond to a request for comment. The suits claim that some of the airlines' Boeing 737, Boeing 757 and Airbus A321 aircraft were built with at least one 'window seat' that is adjacent to a wall, not a window, generally because of the placement of air conditioning ducts or electrical components. Other carriers, such as American Airlines and Alaska Airlines, operate similar aircraft types but disclose during the seat selection process if a seat does not include a window. — NEW YORK TIMES Advertisement
Bloomberg
7 minutes ago
- Bloomberg
Japan's Inflation Hovers Well Above BOJ's Goal Even as It Slows
The pace of Japan's consumer inflation stayed well above the Bank of Japan's target even as price growth moderated, supporting market speculation that the central bank will hike its benchmark interest rate again this year. Consumer prices excluding fresh food rose 3.1% from a year earlier in July, slowing from a 3.3% gain in the previous month, the Ministry of Internal Affairs and Communications reported Friday. The median estimate of economists was for a gain of 3%, with expectations there would be a drag from energy prices after they spiked a year earlier.
