Nestlé has dismissed chief executive Laurent Freixe, due to an inappropriate relationship with a subordinate. The decision, effective immediately, followed an investigation that revealed the romantic involvement violated the company’s code of conduct. Mr Freixe, who had served as CEO for one year, will be succeeded by Philipp Navratil, a long-time Nestlé executive. Chair Paul…

Anthropic, the AI company behind the Claude chatbot, says the technology has been “weaponised” by hackers to carry out sophisticated cyber attacks. The company says its tools were used by hackers “to commit large-scale theft and extortion of personal data.” In another case, North Korean scammers used Claude to fraudulently get remote jobs at top…

U.S. GDP rose at an annualized rate of 3.3% in the second quarter to the end of June, the Commerce Department reported on Thursday, up from its previous estimate of 3%. Consumer spending was revised up to a 1.6% annualized rate in the latest estimate, up from the 1.4% previously reported. Business investment was revised…

The Wall Street Journal reports that Amazon plans to extend new employment offers to Whole Foods Market’s U.S. corporate employees as part of a new effort to integrate its grocery businesses and boost collaboration and innovation. Whole Foods corporate employees will have access to an Amazon discount and healthcare benefits, although they will over time…

GE Aerospace is facing a potential strike as early as August 28 after over 600 employees, represented by the United Auto Workers (UAW) Local 647, voted 84% in favor of authorizing a strike. The workers, based in Evendale, Ohio, and Erlanger, Kentucky, are concerned about a 36% increase in health insurance costs since 2021, along…

A new study using IRS data shows nearly 40% of taxes paid by the 400 richest Americans (2018–2020) came from corporate income taxes. Economist Emmanuel Saez called it “the tax that billionaires pay at source.” The ultrawealthy paid 23.8% of their economic income in taxes, much higher than prior estimates that excluded corporate tax. The…