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Tesla says 4Q profit rose 59%

DETROIT (AP) — Tesla on Wednesday posted record net income in the fourth quarter of last year, and the company predicted that additional software-related profits will keep its margins higher than any other automaker. The Austin, Texas, maker of electric vehicles and solar panels said it earned $3.69 billion from October through December, or an adjusted $1.19 per share. That beat estimates of $1.13 that had been reduced by analysts, according to FactSet. The company’s profit was 59% more than the same period a year ago. Revenue for the quarter was $24.32 billion, which fell short ...

Bieber sells rights to his music

NEW YORK (AP) — Justin Bieber’s record-breaking pop hits from “Baby” to “Sorry” are no longer his after the superstar sold the rights to all his early career music. The Canadian-American pop star’s six albums, including his most recent album “Justice,” are part of the massive catalog sale deal with Hipgnosis, a U.K-based music investment company. Top artists like Sting, Bob Dylan and Shakira have in recent years sold rights to their catalogs for massive sums, but at 28 Bieber is the youngest superstar singer to do so. Hipgnosis acquired Shakira’s catalog in ...

Grand jury probes faulty recreational vehicle tires

DETROIT (AP) — A federal grand jury in Los Angeles is gathering evidence in a criminal investigation of Goodyear recreational vehicle tires that the government blames for crashes that killed eight people and injured dozens of others. The grand jury has subpoenaed Arizona lawyer David Kurtz seeking all documents and deposition transcripts in a lawsuit he filed against the Akron, Ohio, tire maker. A letter accompanying the Jan. 4 subpoena says it was issued in an “official criminal investigation being conducted by the Department of Transportation Office of Inspector General.” It ...

Egg prices prompt demands for price-gouging probe

OMAHA, Neb. (AP) — With egg prices more than doubling in the past year, calls are coming for an investigation into possible price gouging. U.S. Sen. Jack Reed sent a letter Tuesday asking for the Federal Trade Commission to investigate whether egg prices have been improperly manipulated by producers. A farmer-led advocacy group called Farm Action made a similar request last week arguing that there “appears to be a collusive scheme among industry leaders to turn inflationary conditions and an avian flu outbreak into an opportunity to extract egregious profits.” The spike in egg ...

Amazon workers hold first UK strike, adding to labor turmoil

LONDON (AP) — Amazon warehouse workers went on strike for the first time in Britain on Wednesday because of a dispute over pay and working conditions, adding to a wave of industrial labor action across the country fueled by the soaring cost of living. Union members voted to walk off the job for one day at the e-commerce giant’s fulfillment center in Coventry, a city about 100 miles (160 kilometers) northwest of London near Birmingham. Amanda Gearing, a senior organizer with the GMB union, said Amazon staff who worked through tough conditions during the COVID-19 pandemic are just ...

Microsoft reports outage for Teams, Outlook, other services

LONDON (AP) — Microsoft said it’s seeing some improvement to problems with its online services including the Teams messaging platform and Outlook email system after users around the world reported outages Wednesday. In a status update, the tech company reported “service degradation” for a number of its Microsoft 365 services. Thousands of users reported problems with Teams, Outlook, the Azure cloud computing service and XBox Live online gaming service early Wednesday on the Downdetector website, which tracks outage reports. Many users also took to social media to complain ...