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Trying to read between the lines on President Trump’s pick for the next Fed chair? Take a look at his tweets. His frequent mentions of the strong stock market could bode well for current chair Janet Yellen, who he said was “terrific” in an interview to be broadcast on Wednesday. Meanwhile, an old feud has rekindled between hopeful Kevin Warsh and Randal Quarles, the newest Republican Fed board appointee.—Katie Robertson
Trump decides against Gary Cohn for Fed chair. The president has ruled out appointing his National Economic Council Director to lead the Federal Reserve, sources told Bloomberg News. Trump has privately told advisers that Cohn is doing a great job in his current role and he wants to keep him at the White House through congressional consideration of his proposed tax overhaul.
Chipotle’s plunge erases $225 million from executive stock awards. The restaurant chain has tumbled more than 60 percent from its peak in 2015, rendering the stock appreciation rights of four top executives worthless. Shares tumbled further following Tuesday’s disastrous quarterly report. But Chipotle remains hopeful in the sales-boosting power of its queso dip—a menu item that has received plenty of criticism, including from a Duke basketball star.
Uber faces a lawsuit alleging gender and race discrimination. The ride-hailing giant was sued by three Latina engineers over claims the company pays women and people of color less than their peers and doesn’t promote them as frequently as males, whites and Asians.
Inside Apple’s struggle to get the iPhone X to market on time. As of early fall, it was clearer than ever that production problems meant the tech giant wouldn’t have enough of the new phone in time for the holidays. Apple’s solution? It quietly told suppliers they could reduce the accuracy of the facial recognition technology to make it easier to manufacture.
Elon Musk was wrong about self-driving Teslas. The chief executive was so confident in Tesla’s autonomous driving feature that he began selling it for an additional $8,000 on any new Model X or Model S. A year later, there’s still no sign of “Full Self Driving” and Tesla owners have filed a class action lawsuit, alleging they were tricked into buying something that doesn’t exist.
One of New York’s most expensive restaurants is in trouble with the FDA. Masa, which earned three Michelin stars for its $595 tasting menu, received a warning letter from the regulator dated Oct. 16 alleging violations of federal rules that govern seafood imports. The agency wrote in the letter that some of the restaurant’s fresh fish, including its skipjack tuna, was “prepared, packed, or held under insanitary conditions.”
Driving the new Rolls-Royce Phantom is an exercise in serious luxury. After more than a decade, the historic brand is relaunching its flagship sedan. The result is a $450,000 hunk of power and opulence that the automaker says is the quietest car on Earth.