Business

A view shows the logo of the Paris 2024 Olympic and Paralympic Games, in Paris, France, March 19, 2024. Benoit Tessier | ReutersMany of the world's greatest athletes will make their big-screen debut in IMAX theaters this summer.NBC announced Friday that its live coverage of the 2024 Paris Olympics opening ceremony on July 26 will play on more than 150 IMAX screens in the U.S.The Summer Olympics opening ceremony will be the first not held in a stadium. Instead, organizers will send Olympians down the River Seine on a…

Fanatics founder and CEO Michael Rubin at his office in New York.The Washington Post | Getty ImagesSports merchandise giant Fanatics is firing back against sportsbook giant DraftKings in an ongoing legal fight over Fanatics' hiring of a top DraftKings executive.In a legal brief filed late Thursday in U.S. District Court in Massachusetts, Fanatics accuses DraftKings of distorting reality and character assassination of its former senior vice president of business development, Michael Hermalyn.In February, Hermalyn accepted…

For 50 years, a Pepto Bismol-pink tower has loomed large over the Lakewood shopping center marking the spot of the legendary Casa Bonita. The tower is something of a beacon, calling to longtime fans and would-be diners with the promise of mariachi music, cliff divers, crispy sopapillas and the kind of fun that inspires childlike joy. Next week will mark the 50th anniversary the day that Oklahoma City entrepreneur Bill Waugh opened Denver’s Casa Bonita in a former Joslin’s department store. The restaurant was part of a…

Apple uses the dominance of the iPhone to illegally suppress competition in ways that harm consumers, the US Department of Justice alleged in a lawsuit filed Thursday.Apple has denied it acts illegally, with spokesperson Fred Sainz saying that the suit “threatens who we are and the principles that set Apple products apart in fiercely competitive markets.” But key parts of the suit use the words of Apple’s own executives against the company. The DOJ lawsuit quotes internal emails to argue that Apple knowingly restricts…

A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai)Vcg | Visual China Group | Getty ImagesLIVONIA, Mich. – A small electric vehicle is having a big impact on the global automotive industry.It's not the EV itself that's making waves but its price — and its potential to disrupt domestic auto industries around the world.The China-built BYD Seagull, a small all-electric hatchback, starts at just 69,800…

The US Department of Justice, along with more than a dozen state attorneys general, has filed a lawsuit against Apple that takes direct aim at the iPhone and the company’s lucrative iOS ecosystem.Claiming that Apple had established an “iPhone monopoly,” the suit argues that the company’s allegedly anticompetitive behavior resounds well beyond smartphones themselves. It cites financial services, fitness, gaming, media, and more as industries affected by Apple’s “walled garden” approach.“This case is about freeing…

Electrical engineer Gilbert Herrera was appointed research director of the US National Security Agency in late 2021, just as an AI revolution was brewing inside the US tech industry.The NSA, sometimes jokingly said to stand for No Such Agency, has long hired top math and computer science talent. Its technical leaders have been early and avid users of advanced computing and AI. And yet when Herrera spoke with me by phone about the implications of the latest AI boom from NSA headquarters in Fort Meade, Maryland, it seemed…

A big concern ahead of the public listing was that Reddit, the platform that gave birth to the memestocks of 2021, could also suffer the wild price swings caused by large numbers of investors coordinating their strategy over social media, including Reddit itself, on forums such as r/wallstreetbets.Reddit’s IPO is a test of investor appetite for tech IPOs, which have been a rarity in recent years. Low interest rates had made raising and borrowing cash on private markets easy, and economic effects from the war in Ukraine…

Four years of waiting. Four years of questions. Denver’s Vine Street Pub & Brewery, which closed because of the pandemic on March 17, 2020, along with every other restaurant, bar and brewery in Colorado, said Thursday that it had made plans to finally reopen this spring. Vine Street Pub & Brewery is opening on May 15th,” the business wrote on its Facebook page. “We are currently hiring for all positions.” Three other pubs that are part of the Boulder-based Mountain Sun group were able to open in 2021, while a…

A man in Denmark was sentenced to 18 months in prison today for using fake accounts to trick music streaming services into paying him 2 million Danish kroner ($290,000) in royalties. The unusual case reveals a weak spot in the business model behind the world’s biggest music platforms.The 53-year-old consultant, who had pleaded not guilty, was convicted of data fraud and copyright infringement after using bots to listen to his own music through fake profiles on both Spotify and Apple Music, collecting royalties in the…