Walmart has seen enough from X. The retailer, America’s single biggest employer and largest company by revenue, told Reuters on Friday it’s no longer advertising on the platform formerly known as Twitter. The departure follows owner Elon Musk amplifying antisemitic posts and flinging expletives at fleeing advertisers. “We aren’t advertising on X as we’ve found other platforms to better reach our customers,” a Walmart spokesperson told Reuters.

Walmart’s exit adds to a growing list of companies that have pulled ads from the platform. Apple, Disney, IBM, Comcast and Warner Bros. Discovery are among the businesses no longer buying ads on X. A group of advertisers told The New York Times on Thursday their temporary pauses will likely become permanent. “There is no advertising value that would offset the reputational risk of going back on the platform,” Lou Paskalis, CEO of marketing consultancy AJL Advisory, told the paper.

X’s former advertisers had no shortage of reasons to jump ship. Musk’s latest series of self-inflicted wounds began when the billionaire appeared to endorse and amplify a post falsely claiming Jewish communities were stoking hatred against white people. Musk replied to the user who spewed the racist “Great Replacement” conspiracy theory, saying their comments reflected “the actual truth.”

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Watchdog group Media Matters then published a report showing ads from well-known brands placed next to antisemitic content. X responded by suing the organization, accusing it of “knowingly and maliciously [manufacturing] side-by-side images depicting advertisers’ posts on X Corp.’s social media platform beside Neo-Nazi and white national fringe content.”

Musk’s attempt to smooth things over only made things worse. After apologizing for amplifying the antisemitic content at The New York Times’ DealBook event, he told advertisers backing off of the platform to “Go fuck yourself.” His company now potentially stands to lose $75 million.

Walmart employs around 1.6 million people in the US. The retailer made $611 billion in revenue in the 2023 fiscal year.

Meta has sued the Federal Trade Commission (FTC) in an attempt to stop regulators from reopening a landmark $5 billion privacy settlement from 2020 and to allow it to monetize kids’ data across apps like Facebook, Instagram and Whatsapp. This comes after a federal judge ruled on Monday that the FTC would be allowed to expand on 2020’s privacy settlement, paving the way for the agency to propose tough new rules on how the social media giant could operate in the wake of the Cambridge Analytica scandal.

Today’s lawsuit demands an immediate stop to the FTC’s proceedings, calling it an “obvious power grab” and an “unconstitutional adjudication by fiat.” A Meta spokesperson even referred to the FTC as “prosecutor, judge, and jury in the same case”, as reported by Bloomberg. This is the second attempt by Facebook’s parent company to stop the sanctions in court.

The FTC, for its part, says that Meta has repeatedly violated the terms of 2020’s settlement regarding user privacy. The agency also says that the company has violated the Children’s Online Privacy Protection Act (COPPA) by monetizing the data of younger users. The FTC has already been given the go ahead by a judge to restrict this type of monetization, a decision Meta hopes to overturn.

The FTC also seeks to implement new restrictions that limit Meta’s use of facial recognition, as well as a complete moratorium on new products and services until a third-party completes an audit to determine if the company’s complying with its privacy obligations.

“Facebook has repeatedly violated its privacy promises,” Samuel Levine, director of the FTC’s Bureau of Consumer Protection, said in a statement. “The company’s recklessness has put young users at risk, and Facebook needs to answer for its failures.” To that end, multiple states have sued Meta to stop the monetization of children’s data, along with the EU.

The FTC has been a consistent thorn in Meta’s side, as the agency tried to stop the company’s acquisition of VR software developer Within on the grounds that the deal would deter "future innovation and competitive rivalry." The agency dropped this bid after a series of legal setbacks. It also opened up an investigation into the company’s VR arm, accusing Meta of anti-competitive behavior.

Corporations have been all over the FTC lately in attempts to paint the agency as a prime example of government overreach. Beyond Meta, biotech giant Illumina is suing the FTC to halt a decision that stops it from a $7 billion acquisition of the cancer detection startup Grail.

Fresh off successful contract negotiations with Ford, GM and Stellantis, the United Auto Workers (UAW) is seeking to unionize 150,000 workers across 13 automakers including Tesla, BMW, Mercedes Benz and Hyundai, it announced. "To all the autoworkers out there working without the benefits of a union: now it’s your turn," said UAW president Shawn Fain. 

The UAW said the organizing drive covers "more than a dozen" non-union automakers. It notes that many use a mix of full-time, temporary and contract employees "to divide the workforce and depress wages." The union cited one example of a Hyundai assembly plant employee who worked for a subcontractor for eight years starting at $9.25 an hour before finally becoming a full-time Hyundai employee. 

Non-union automakers, including VW, Nissan, Hyundai, Honda, Toyota and Subaru raised wages after the UAW's negotiations with the big three. VW, for one, bumped them to $23.42 an hour, rising to a maximum of $32.40. However, they "lag far behind UAW autoworkers in wages, benefits and rights on the job," the union said.

The UAW helped workers win a 25 percent raise over four years with the big three automakers, with the highest-paid Ford workers now earning $83,000 per year for a 40-hour work week (around $42 per hour). The union also gained reinstatement of cost-of-living allowances, shorter progression periods to top wages and a quicker conversion of temporary to in-progression (full-time) employees. 

Tesla employees have attempted to unionize the company before, and some alleged that the company fired them for that — though that claim was recently dismissed by the US National Labor Relations Board (NLRB). The NLRB has previously found that Tesla violated labor law by prohibiting employees from talking about workplace matters. Back in 2022, Elon Musk challenged the UAW to hold a vote at Tesla's California factory.

Other automakers aren't exempt from worker complaints, including startup Rivian. "The company likes to tell us we’re making the plane while flying it, and that explains a lot about the problems we have," said one Rivian chassis worker. "We have all sorts of safety issues. Turnover is terrible. Every group has a story about a new employee who did not make it to first break. The lack of safety, the low pay, the forced overtime, there are so many reasons we need to be union." 

Unity Software is eliminating 3.8 percent of its global workforce and terminating an agreement with VFX company Weta as part of a "reset," Reuters has reported. The news follows some severe turbulence in the company, after it imposed and then partially walked back a controversial runtime fee for its game engine. Last month, John Riccitiello stepped down as president and CEO of the company after nine years in leadership. 

Some 265 employees will be laid off, all related to Unity's professional services agreement struck as part of its purchase of Weta Digital's technology and engineering division back in 2021. Employees will have only a week to wrap up before their positions are fully terminated, according to FX Guide — a tough blow just before Christmas. In a statement, Weta FX said it will extend offers to as many affected employees as possible.

Unity will close offices in up to 14 locations including Berlin and Singapore, pending consultation with employees in some locations, while reducing its office footprint in San Francisco and Belleview, Washington. The company will no longer require that employees work from offices three days a week and will reduce "full in-office services" to three days a week.

After Unity's acquisition, Weta FX (the film industry VFX division) split off into a new and separate company. Unity, meanwhile, acquired Weta engineers along with tools for pipelines and FX, Weta's data platform, a library of assets and more. "Unity will retain ownership of the technology it acquired from Wētā in December 2021 and will be evaluating the best way to enhance its offerings with it over time. The technology will also remain fully available to Weta FX," Weta said in a statement. 

Just a month ago, Unity rolled out some significant concessions to its developer pricing model after widespread backlash over its plan to charge developers for game installations. The move will directly impact developers, publishers and distributors. The upheaval of Unity’s business model came at the same time as a series of massive layoffs. In 2023, the company reduced its headcount three times in an attempt to cut costs. CEO John Riccitiello, who took much of the brunt of the criticism, stepped down last month and was replaced by former IBM president James Whitehurst, who is serving as an interim CEO. 

Tesla sued Sweden’s transportation agency and postal service on Monday over a union strike blocking the company’s license plate deliveries in the country. The workers are striking to demand the non-unionized automaker sign a collective bargaining agreement, a standard practice that mechanics’ union IF Metall describes as “the backbone of the Swedish model.” However, the Swedish Transport Agency says it already received an interim decision from a district court ordering it to consent within seven days to Tesla’s request to collect license plates or face hefty fines. The agency says it’s too early to say what exactly that means for the standoff.

The Associated Press reported Monday that Tesla, which delivered over 9,000 EVs to Swedish customers in 2022, described the actions of The Swedish Transport Agency (Transportstyrelsen) as a “unique attack” on the US company. Tesla’s lawsuit reportedly urges a district court to fine the Swedish Transport Agency 1 million kronor (US$95,803) while allowing Tesla to “retrieve license plates.” The registrations are held up because workers at state-owned postal service PostNord stopped supplying the plates to Tesla after its workers joined the strike.

The lawsuit allegedly claims the Swedish Transport Agency refused the automaker’s request to pick up the license plates itself or, failing that, send them through a different channel. Reuters reports Tesla filed two lawsuits: one against the Swedish Transport Agency and another against PostNord.

In a statement to Engadget, Swedish Transport Agency spokesperson Ann-Sofie Masth confirmed the lawsuit and revealed the court’s interim decision. “The Swedish Transport Agency has now received an interim decision from the Norrköping district court to consent within 7 days to Tesla collecting license plates directly from our sign manufacturer. It appears from the decision that our sign manufacturer has announced that it is prepared to provide the signs directly to Tesla, provided that the Swedish Transport Agency agrees to this. We at the Swedish Transport Agency now need to analyze the announcement and assess what consequences this has for us and what measures might need to be taken to implement the decision. It is currently too early to say exactly what that would mean.”

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Tesla, not exactly a union-friendly company, has a policy against signing collective bargaining agreements, claiming its employees already have equal or better terms than what the union proposed. The argument that it takes good enough care of its employees to void the need for a union echoes one Tesla CEO Elon Musk made in 2017 when accused of allegations of poor working conditions and low pay at the company’s Fremont, CA factory.

IF Metall, Sweden’s most prominent manufacturing union, began striking on October 27. Although Tesla doesn’t have a manufacturing plant in the country, it has several service centers, which stopped working on Tesla vehicles after going on strike. Other unions in the Nordic nation, including dockworkers, cleaners and electricians, have joined the strike in an act of unity. A component maker joined the unions on Friday in a sympathy action.

In Tesla’s court filing, the company reportedly described the decision as “a unique attack on a company operating in Sweden,” claiming the refusal to deliver the license plates would affect “a large number of consumers who ordered a new car from Tesla.”

In a statement to The AP, an IF Metall representative said, “We are doing this for the sake of our members, to ensure that they have safe working conditions.” A Swedish Transportation Agency spokesperson reportedly told Reuters, “We at the Swedish Transport Agency do not share this view and therefore Tesla has decided to have the issue tested in court, which is their right.”

X, the social network formerly known as Twitter, typically earns the most money in the last months of the year, as brands ramp up their advertising campaigns for the holiday shopping season. According to The New York Times, though, the company's earnings report for this quarter might look different than usual. Based on internal documents The Times has seen, over 100 brands and even other types of advertisers, such as political candidates, have fully paused their ads on the website, while dozens more are considering pulling their campaigns. If advertisers don't come back, X could lose up to $75 million in ad revenue earnings this year. 

The documents reportedly track how X would be affected by brands leaving the website, including the first ones that paused their ads shortly after Elon Musk's controversial tweet, wherein he agreed with an antisemitic conspiracy theory. Shortly after he posted his tweet, media watchdog Media Matters published a report showing ads on the website right next to antisemitic content. In response, X filed a lawsuit against the organization, accusing it of "knowingly and maliciously [manufacturing] side-by-side images depicting advertisers' posts on X Corp.'s social media platform beside Neo-Nazi and white national fringe content."

X said in its complaint that Media Matters deliberately created an environment to show ads from some of the platform's biggest advertisers next to "extreme, fringe content." Linda Yaccarino, the company's CEO, defended X in a post and said that only two users saw Apple's ad next to unpalatable content on the platform. One of them was Media Matters, she added. The organization called X's lawsuit "frivolous" in a statement to Engadget and said it looks forward to winning in court. 

IBM, Apple and Disney were among the brands that quickly pulled their ads from X after the incidents. Lionsgate specifically cited Musk's tweet as its reason for suspending its advertising campaigns, while Ubisoft was one of the first video game companies to withdraw its ads from X. According to The Times' report, Airbnb has halted over $1 million worth of advertising on X, and Netflix has pulled $3 million in ads. X could also lose $4 million in ad revenue due to Microsoft's subsidiaries pausing their campaigns. Uber and Coca-Cola are two other well-known brands that have chosen to put their advertising on X on hold. 

In a statement to the publication, the company said the figures it viewed were either outdated or "represented an internal exercise to evaluate total risk." It also said that the revenue at risk was only around $11 million and that the exact amount keeps fluctuating as some advertisers return or increase their ad spending. 

NVIDIA is facing a lawsuit filed by French automotive company Valeo after a screensharing blunder by one of its employees. According to Valeo's complaint, Mohammad Moniruzzaman, an engineer for NVIDIA who used to work for its company, had mistakenly showed its source code files on his computer as he was sharing his screen during a meeting with both firms in 2022. Valeo's employees quickly recognized the code and took screenshots before Moniruzzaman was notified of his mistake. 

To note, Valeo and NVIDIA are working together on an advanced parking and driving assistance technology offered by a manufacturer to its customers. Valeo used to be in charge of both software and hardware sides of the manufacturer's parking assistance tech. In 2021, however, the the bigger corporation won the contract to develop its parking assistance software. Valeo wrote in its lawsuit that its former employee, who helped it develop its parking and driving assistance systems, had realized that his exposure and access to its proprietary technologies would make him "exceedingly valuable" to NVIDIA. 

Moniruzzaman allegedly gave his personal email unauthorized access to Valeo's systems to steal "tens of thousands of files" and 6GB of source code shortly after that development. He then left Valeo a few months later and took the stolen information with him when he was given a senior position at NVIDIA, the complaint reads. He also worked on the very same project he was involved in for Valeo, which is why he was present at that video conference. 

Valeo said its former employee admitted to stealing its software and that German police found its documentation and hardware pinned on Moniruzzaman's walls when his home was raided. According to Bloomberg, he was already convicted of infringement of business secrets in a German court and was ordered to pay €14,400 ($15,750) in September. 

In a letter dated June 2022, NVIDIA's lawyers told the plaintiff's counsel that the company "has no interest in Valeo's code or its alleged trade secrets and has taken prompt concrete steps to protect [its] client’s asserted rights." Valeo still sued the company earlier this month, however, and said that NVIDIA has "saved millions, perhaps hundreds of millions, of dollars in development costs, and generated profits that it did not properly earn and to which it was not entitled" by stealing its trade secrets. 

This is but another proof that competition continues to heat up in the autonomous driving market. Back in 2017, Waymo accused Uber of colluding with its former employee, Anthony Levandowski, to steal over 14,000 confidential and proprietary design files. Levandowski was sentenced to 18 months in prison, but he was pardoned six months later by then President Donald Trump. 

OpenAI has been hit with another lawsuit, accusing it of using other people's intellectual property without permission to train its generative AI technology. Only this time, the lawsuit also names Microsoft as a defendant. The complaint was filed by Julian Sancton on behalf of a group of non-fiction authors who said they were not compensated for the use of their books and academic journals in training the company's large language model. 

In their lawsuit, the authors state how they spend years "conceiving, researching, and writing their creations." They accuse OpenAI and Microsoft of refusing to pay authors while building a business "valued into the tens of billions of dollars by taking the combined works of humanity without permission." The companies pretend copyright laws do not exist, the complaint reads, and have "enjoyed enormous financial gain from their exploitation of copyrighted material."

Sancton is the author behind Madhouse at the End of the Earth: The Belgica’s Journey Into the Dark Antarctic, which tells the true survival story of an 1897 polar expedition that got stuck in the ocean in the middle of a sunless Antarctic winter. Sancton spent five years and tens of thousands of dollars to research and write the book. "Such an investment of time and money is feasible for Plaintiff Sancton and other writers because, in exchange for their creative efforts, the Copyright Act grants them 'a bundle of exclusive rights' in their works, including 'the rights to reproduce the copyrighted work[s],'" according to the lawsuit. 

As Forbes notes, OpenAI previously said that content generated by ChatGPT doesn't constitute "derivative work" and, hence, doesn't infringe on any copyright. Sancton's lawsuit is merely the latest complaint against the company over its use of copyrighted work to train its technology. Earlier this year, screenwriter and author also Michael Chabon sued OpenAI for the same thing, as did George R.R. Martin, John Grisham and Jodi Picoult. Comedian Sarah Silverman filed a lawsuit against OpenAI and Meta, as well. Sancton is now seeking damages and injunctive relief for all the proposed class action's defendants. 

Ubisoft is the latest company to join what seems to be a growing list of advertisers pulling their campaigns from Elon Musk's X, formerly known as Twitter. The company has confirmed to PCGamer and Axios that it has indeed paused its advertising on the website, possibly making it the first video game publisher to do so. While Ubisoft didn't elaborate on its reasoning behind the decision, X's advertisers have been suspending their advertising activities on the social network after Musk supported an antisemitic tweet and Media Matters published a research showing brands' advertisements next to Nazi content. 

IBM, Apple, Disney, Paramount, Warner Bros, Sony and Comcast have all paused their advertising on X. Lionsgate pulled its ads, as well, specifically citing Musk's tweet as the cause. Axios says Ubisoft's Assassin's Creed Nexus VR ad campaign was still showing up for X users as recently as Monday morning, and it's unclear if it stopped advertising on the social network before or after Linda Yaccarino published a statement calling Media Matters' report "misleading and manipulated." 

X's CEO issued a call for users and advertisers to "stand with X," claiming that "not a single authentic user on [the website] saw IBM's, Comcast's, or Oracle's ads next to the content in Media Matters’' article." Shortly after that, X officially filed a lawsuit against the media watchdog, accusing it of "knowingly and maliciously manufactur[ing] side-by-side images depicting advertisers' posts on X Corp.'s social media platform beside Neo-Nazi and white national fringe content." In its complaint, X explained that Media Matters had to create the right conditions, which included following accounts that post fringe Neo-Nazi and white nationalist content, in order to see ads right next to antisemitic posts. 

Media Matters called the lawsuit "frivolous" and an attempt to "bully X's critics into silence" in a statement sent to Engadget. The organization also told us that it "stands behind its reporting and looks forward to winning in court."

Binance CEO Changpeng Zhao is set to plead guilty to federal money laundering charges and step down from his position at the company he founded. Zhao and the cryptocurrency exchange have reached a plea deal with the government, which conducted a multi-year investigation into the company, CNBC reports. As part of the settlement, Binance will forfeit $2.5 billion and pay a $1.8 billion fine. Zhao is slated to personally pay $50 million.

Zhao will be prohibited from having any involvement with Binance for three years. As part of the plea deal, Zhao will plead guilty later on Tuesday to violating and causing a financial institution to violate the Bank Secrecy Act, according to Reuters.

Binance, Zhao and others were accused of failing to institute an effective anti-money laundering program. According to the Justice Department, they willfully violated economic sanctions “in a deliberate and calculated effort to profit from the US market without implementing controls required by US law." Court documents state that the lack of anti-money laundering measures led to Binance facilitating almost $900 million in financial transactions in violation of sanctions against Iran between 2018 and 2022.

In a statement, Zhao confirmed he is stepping down as CEO, with the company's former global head of regional markets Richard Teng taking over the top job. "Today, I stepped down as CEO of Binance," Zhao wrote on X. "Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself." 

Zhao now plans to take a break before perhaps getting more involved in investing. However, "I can’t see myself being a CEO driving a startup again. I am content being an one-shot (lucky) entrepreneur."

The settlement resolves criminal charges related to breaching sanctions regulations, conspiracy and conducting an unlicensed money transmitter business. Meanwhile, former compliance chief Samuel Lim will reportedly face charges as part of the deal.

This is a major settlement between the company and agencies such as the Commodity Futures Trading Commission (CFTC) and the Treasury Department. The CFTC charged Binance, Zhao and Lim with violating its rules, as well as the Commodity Exchange Act, earlier this year.

“Binance turned a blind eye to its legal obligations in the pursuit of profit. Its willful failures allowed money to flow to terrorists, cybercriminals, and child abusers through its platform,” Treasury Secretary Janet Yellen said in a statement. “Today’s historic penalties and monitorship to ensure compliance with US law and regulations mark a milestone for the virtual currency industry. Any institution, wherever located, that wants to reap the benefits of the US financial system must also play by the rules that keep us all safe from terrorists, foreign adversaries, and crime, or face the consequences.”

Binance will remain in operation, albeit under stricter rules. It will need to ensure it abides by anti-money laundering regulations by beefing up its compliance program. The company will also have to appoint an independent compliance monitor.

In June, the Securities and Exchange Commission sued Binance and Zhao, alleging that they helped US traders bypass restrictions and violated securities laws by, among other things, mishandling funds. The SEC also claimed that (in similar allegations to those laid against rival exchange FTX) Binance commingled billions of dollars of customer money with the company's own funds. The SEC charges were not resolved in this settlement.