Tesla CEO Elon Musk moved this week in SDNY federal court to “scrap a settlement he reached with securities regulators in 2018 that required some of his tweets to be preapproved, a condition that has fomented an ongoing conflict with the government over whether he and Tesla have followed the rule.” In his filing, Musk challenged the preclearance rule as a violation of his free-speech rights - WSJ and MarketWatch and Law360
McDonald’s, Coca-Cola, PepsiCo, and Starbucks have joined other American companies in temporarily ceasing sales and operations in Russia. McDonald’s, in making the announcement, also promised to continue to pay salaries for its employees in Russia (as it has done for its Ukrainian workers) - NYTimes and WSJ and Bloomberg and MarketWatch
Commerce Secretary Gina Raimondo warned on Tuesday that Chinese companies defying U.S. restrictions on exports to Russia could find themselves “cut . . . off” from the “American equipment and software they need to make their products” - NYTimes
Tuesday marked yet another down day on Wall Street, as the White House’s announcement of a ban on Russian oil and natural gas—though expected—further boosted oil prices and sent investors into sell mode over concerns about the state of the economy, erasing gains from earlier in the day - NYTimes and WSJ
The FTC has accused Weight Watchers of illegally collecting personal information from children under 13 through its Kurbo pediatric weight loss app. If true, WW risks penalties for violating the Children’s Online Privacy Protection Act (COPPA), the rare federal privacy law in the United States that “requires apps and other online services geared toward children to get parental consent before collecting data from users under 13” - NYTimes
All the hits from Apple’s 3.8 product showcase, including an updated array of existing products (from phones to tablets) and the unveiling of a new in-house processing chip - NYTimes and WSJ and Bloomberg and Mashable
Better.com, the mortgage company that drew the internet’s furor over its CEO’s move to fire 900 employees over a Zoom call several months ago, is laying off another 3,000 workers - WSJ and Bloomberg and NYTimes
New research released from Moody’s on Tuesday—International Women’s Day—suggested that “providing childcare and paid leave to parents of young children” could “result in a $1 trillion boost to gross domestic product by 2028.” Such measures would enable “women between the ages of 25 and 54 . . . to participate in the workforce at the same rate they do in countries that have those support systems in place, such as the U.K., Germany, Sweden and Australia” - Bloomberg
Beautiful . . . eerie . . . cold . . . . A few of the words springing to mind with this piece on the discovery, after 107 years, of the sunken ship from Shackleton’s ill-fated Antarctic expedition of 1915 - NYTimes
Stay safe,
MDR
