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Highlights

  1. Inside the Crisis at NPR

    Listeners are tuning out. Sponsorship revenue has dipped. A diversity push has generated internal turmoil. Can America’s public radio network turn things around?

     By Benjamin Mullin and

    CreditErin Schaff/The New York Times
    1. Meta Says It Plans to Spend Billions More on A.I.

      Along with the higher spending, the owner of Facebook, Instagram and WhatsApp projected lighter-than-expected revenue, causing its stock to plummet.

       By

      Quarterly results on Wednesday underscored Meta’s repositioning of itself as a company poised to capitalize on the industrywide fervor for artificial intelligence.
      Quarterly results on Wednesday underscored Meta’s repositioning of itself as a company poised to capitalize on the industrywide fervor for artificial intelligence.
      CreditIan C. Bates for The New York Times
  1. Business Groups Sue to Stop F.T.C. From Banning Noncompete Clauses

    The lawsuits contend the F.T.C. does not have the authority to prohibit companies from limiting their employees’ ability to work for rivals.

     By

    The Federal Trade Commission in Washington. The agency is being sued over its ban on noncompete agreements.
    CreditStefani Reynolds for The New York Times
  2. Former Boeing Manager Says Workers Mishandled Parts to Meet Deadlines

    Merle Meyers, who left Boeing last year after a 30-year career, said he was speaking publicly about his experience because he loved the company “fiercely.”

     By

    Merle Meyers, who worked at Boeing for nearly 30 years, said the company’s culture had changed over the years to emphasize speed over quality.
    CreditGrant Hindsley for The New York Times
  3. High Borrowing Costs Have Some Democrats Urging Biden to Pressure the Fed

    Polls show voters are angry about costs, like mortgages, and worried they will stay high if the president wins re-election.

     By Jim Tankersley and

    Jerome H. Powell, the chair of the Federal Reserve, during a meeting with President Biden in 2022. White House officials say the president respects the Fed’s independence.
    CreditDoug Mills/The New York Times
  4. ‘It Is Desolate’: China’s Glut of Unused Car Factories

    Manufacturers like BYD, Tesla and Li Auto are cutting prices to move their electric cars. For gasoline-powered vehicles, the surplus of factories is even worse.

     By

    Next to the Chinese characters above the front gate of a former Hyundai factory in Chongqing, China, a slogan used to say in English: “New Thinking, New Possibilities.”
    CreditGilles Sabrié for The New York Times
  5. Starbucks and Union Restart Contract Talks After Bitter Standoff

    The company and Workers United, which represents more than 10,000 of the chain’s employees, broke off negotiation nearly a year ago.

     By

    Representatives from the Workers United union and Starbucks plan to meet for the first time since May 23 to negotiate a framework for a contract.
    CreditJoshua Bessex/Associated Press

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  9. DealBook Newsletter

    Who Stands to Gain from a TikTok Ban

    The Senate has finally passed a law that could bar the video-sharing app in the U.S., leaving some tech giants in pole position to profit — or pounce.

    By Andrew Ross Sorkin, Ravi Mattu, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Lauren Hirsch and Ephrat Livni

     
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