Business News at a Glance

Google Shrugs Off $5.1 Billion Fine With Another Big Quarter

European authorities took their best swing, but it appears that Google hardly felt it. Less than a week after the European Union fined Google a record $5.1 billion for abusing its dominance in the smartphone market, Google’s parent company, Alphabet, said Monday that it had absorbed the cost of the fine and made $3.2 billion in profit in its latest quarter. Alphabet’s stock rose 3.5 percent in after-hours trading, and some analysts recommended the company’s shares. With the regulatory issue settled, they said, Google could get back to focusing on selling ads across the internet.

Nike Will Raise Wages for Thousands After Outcry Over Inequality

More than 7,000 Nike employees will be getting raises after an internal pay review, undertaken after claims of workplace misconduct and discrimination against women shook the company and forced out several of its top executives. The company, which is based in Beaverton, Oregon, said the changes would affect about 10 percent of its 74,000 employees worldwide. Two months ago, Chief Executive Mark Parker pledged at a companywide meeting that Nike would alter its compensation and management training programs to reflect its goals for equal pay and workforce diversity. Parker apologized to the gathered workers for missing signs of discontent.

Tesla, Pushing for Profit, Faces New Questions Over Finances

Electric carmaker Tesla has vowed to turn a profit in the second half of this year and has apparently increased production of the fledgling Model 3 midsize sedan. But analysts are not convinced that Tesla will turn the corner in this quarter. And new questions have arisen with the disclosure of an effort by Tesla to renegotiate agreements with suppliers for price reductions on work underway. The Wall Street Journal reported Sunday night that Tesla asked some suppliers to refund a portion of payments made since 2016. The report cited a memo to a supplier saying Tesla was asking for cash back to help it become profitable.

Daily News Newsroom Cut in Half by Tronc as Top Editor Is Ousted

The meeting lasted less than a minute. By the time it was over, reporters and editors at The Daily News, the New York tabloid that was once the largest-circulation paper in the country, learned that the newsroom staff would be cut in half and that its editor-in-chief was out of a job. In the hours that followed, journalists in various departments received formal notification that they had been laid off by Tronc, the Chicago-based media company that bought the paper last year. “People were crying and hugging each other,” said Scott Widener, a researcher who had worked at The News since 1990.

Papa John’s Adopts ‘Poison Pill’ Defense Against Schnatter

Papa John’s is preparing for a fight against John Schnatter, the pizza chain’s founder and former chairman, by adopting a “poison pill” defense to protect itself against a hostile takeover attempt. The plan, announced late Sunday by the company’s board, is meant to prevent any shareholder from amassing a controlling interest in Papa John’s. Schnatter, who resigned as chairman this month after a report that he had used a racial slur, owns 30 percent of the company’s stock, making him its largest shareholder. Schnatter has said that stepping down "was a mistake” and that he was pressured to leave by board members acting on “rumor and innuendo.”

Hedge Fund Billionaire Says It’s Time to ‘Fold ’Em’

Leon G. Cooperman, one of the early standard-bearers of the hedge fund industry, plans to return money to outside investors and convert his firm, Omega Advisors, to a family office by year’s end. Cooperman, 75, notified investors of his decision in a letter Monday. In announcing the decision, he referred to the Kenny Rogers song “The Gambler” and its famous verse about knowing “when to fold ‘em.” The conversion to a family office that mainly manages his family’s money will mean the loss of jobs at Omega. The firm, which oversees a little over $3.5 billion, has 35 employees.