DC Attorney General Sues StubHub Over Hidden Fees

The Attorney General for Washington, D.C., filed a lawsuit against StubHub on Wednesday, accusing the ticket resale platform of engaging in deceptive pricing practices. Attorney General Brian Schwalb alleges that StubHub advertises artificially low ticket prices, only to significantly increase the final cost with hidden fees. This practice, known as “drip pricing,” violates consumer protection laws in the nation’s capital, Schwalb asserts.

“StubHub intentionally hides the true price to boost profits at its customers’ expense,” Schwalb stated in his announcement. The lawsuit claims that these mandatory “fulfillment and service” fees are only revealed at the end of a lengthy online purchasing process, which can span more than a dozen pages and is accompanied by a countdown timer that creates a sense of urgency. Schwalb argues that this makes it “nearly impossible” for buyers to know the true cost of a ticket and compare prices effectively. According to the lawsuit, these fees can total more than 40 percent of the advertised ticket price. StubHub, a major resale platform for tickets to sports, concerts, and other live events, has not yet responded to requests for comment.

CarShield to Pay $10 Million to Settle Charges Over Advertising Claims

CarShield will pay $10 million to settle charges from the Federal Trade Commission (FTC) over deceptive and misleading advertising and telemarketing practices for its extended auto warranty plans. According to the FTC, many customers found that repair claims were often not covered despite making monthly payments of up to $120. The FTC also alleged that CarShield’s celebrity and consumer endorsers made false statements in its advertisements. CarShield, which advertises vehicle service contracts ranging from $80 to $120 per month, had featured celebrities such as sports commentator Chris Brown and actor and rapper Ice-T in its ads. The complaint states that these advertisements falsely claimed that all repairs or repairs to “covered” systems like the engine and transmission would be paid for, misleading consumers about the actual coverage provided.

Delta CEO Says Tech Outage Cost $500 Million

Delta Air Lines CEO Ed Bastian revealed that the airline is facing $500 million in costs due to a global tech outage earlier this month that disrupted services and operations. Bastian explained on CNBC that the figure represents lost revenue and the tens of millions of dollars spent daily on compensation and hotels during the five-day disruption. The tech outage, caused by a bug in an update pushed by cybersecurity firm CrowdStrike, affected millions of customer computers globally, grounding flights and disrupting various businesses. Bastian emphasized the significant financial impact on Delta and the extensive efforts required to manage the crisis.

Adidas Reports Rebound in Sales

Adidas announced a rebound in sales with its retail partners and a return to growth in North America, excluding Yeezy sneaker sales. The German sportswear company reported a 17 percent currency-neutral revenue growth in its wholesale business last quarter. This indicates renewed interest from retail partners such as Foot Locker and JD Sports Fashion. CEO Bjorn Gulden, now in his second year, has focused on a back-to-basics strategy emphasizing sports and new product development, which has been well-received by investors. Gulden’s approach aims to restore Adidas’s market position and drive long-term growth by strengthening its core product offerings and enhancing its relationships with key retail partners.

Norah O’Donnell to Step Down as CBS Anchor

Norah O’Donnell, the anchor of “CBS Evening News,” will step down from her role after this fall’s presidential election. She will transition to a senior correspondent position at CBS News, where she will conduct “big interviews” and feature in prime-time specials and “60 Minutes.” O’Donnell, who has been with CBS News for several years and took over the “Evening News” in 2019, announced her new role in an email to colleagues. In her new position, O’Donnell will continue to play a significant role in the network’s news coverage while focusing on high-profile interviews and in-depth reporting.

Boar’s Head Expands Recall of Deli Meat

Boar’s Head has expanded its recall to include seven million additional pounds of deli meat after a listeria outbreak linked to its products. The initial recall of over 200,000 pounds was broadened after a sample from a Maryland store tested positive for the listeria strain causing the outbreak. The expanded recall now covers all meats and poultry processed at Boar’s Head’s facility in Jarratt, Virginia. The outbreak has resulted in two deaths and nearly three dozen illnesses. Boar’s Head is working closely with the U.S. Department of Agriculture to address the issue and ensure the safety of its products. Consumers are advised to check their purchases and follow recall instructions to avoid potential health risks.

T-Mobile Reports Subscriber Boost in Q2

T-Mobile reported better-than-expected new monthly mobile-phone subscribers for the second quarter, adding 777,000 subscribers compared to the 645,300 analysts had anticipated. The Bellevue, Washington-based carrier has raised its forecast for mobile subscribers for the year to between 5.4 million and 5.7 million. This follows similar strong performance reports from competitors Verizon and AT&T. T-Mobile’s growth reflects its successful efforts to attract new customers and enhance its network services. The company continues to focus on expanding its 5G coverage and offering competitive plans to maintain its market position.

Intel to Cut Thousands of Jobs

Intel plans to eliminate thousands of jobs to reduce costs amid efforts to rebound from an earnings slump and loss of market share. The layoffs, expected to be announced soon, aim to support Intel’s strategy to boost profitability. Intel currently employs around 110,000 people, excluding those in units being spun out. The workforce reduction is part of Intel’s broader restructuring plan to streamline operations and invest in key growth areas. The company faces significant challenges in regaining its competitive edge in the semiconductor industry and improving its financial performance.

Taco Bell to Expand AI Drive-Throughs

Taco Bell is planning to expand its AI-powered drive-through systems to hundreds of U.S. restaurants by the end of the year. The Mexican-inspired fast-food chain has been testing this technology in about 100 restaurants across 13 states for two years. While Taco Bell did not specify how many of its 7,400 U.S. stores will adopt the AI platform, it is part of a broader strategy to enhance customer service and operational efficiency. The AI systems are designed to improve order accuracy and speed, providing a better experience for customers. Taco Bell’s investment in technology reflects its commitment to innovation and staying competitive in the fast-food industry.

Inflation in Euro Zone Ticks Up

Inflation in the euro zone rose to 2.6 percent in July, up from 2.5 percent in June, according to Eurostat. This increase poses challenges for the European Central Bank (ECB) as it considers whether to cut interest rates to boost growth amid a struggling economy. The inflation rate remains above the ECB’s target, complicating its monetary policy decisions. The rise in inflation highlights the persistent economic pressures in the region and the difficulty in achieving a sustainable recovery. The ECB must balance the need to support growth with the imperative to control inflation, a complex task given the current economic environment.