Business News at a Glance

Should Coffee Come With Cancer Warnings? California Says No

In every cup of coffee, there is a chemical linked to cancer. That undisputed fact led a Los Angeles judge to rule this spring that coffee companies must provide cancer warnings to coffee drinkers. But now, the state of California has intervened, telling coffee drinkers not to worry. An agency has proposed a rule declaring that not only does coffee pose no significant risk of cancer, it may have health benefits. The measure will be the subject of a public hearing Thursday in Sacramento. If the proposal goes into effect, it is expected to nullify the court ruling about coffee warnings.

SEC Is Said to Subpoena Tesla After Elon Musk’s Take-Private Tweet

Federal securities regulators have served Tesla with a subpoena, according to a person familiar with the investigation, increasing pressure on the electric car company as it deals with the fallout from several recent actions by its chief executive, Elon Musk. The subpoena, from the Securities and Exchange Commission, comes days after regulators began inquiring about an Aug. 7 Twitter post by Musk, in which he said he was considering converting Tesla to a private company. In the post, he said that the financing for such a transaction, which would probably run into the tens of billions of dollars, had been “secured.”

Uber’s Losses Continue in March Toward Initial Public Offering

Just over a year after Travis Kalanick was ousted as chief executive of Uber, the ride-hailing company released new financial results that showed continued growth and narrowing losses as it advances toward an initial public offering. On Wednesday, Uber posted a loss of $891 million for the second quarter, compared with a loss of more than $1 billion during the same period a year earlier. After paying out fees to drivers, revenue was $2.7 billion. Investors are scrutinizing Uber’s financials because the company is one of the world’s most highly valued private firms, at $62 billion, and is preparing to go public by the end of 2019.

As Chinese Internet Giant Tencent Stumbles, Beijing Gets the Blame

After years of growth, Tencent has become one of the largest internet companies in the world. But on Wednesday, Tencent stumbled, missing earnings targets and posting a slowdown in profit growth for the first time in more than a decade. As surprising as the slip up was the reason behind it: China’s government. Bureaucratic reshuffling at the top levels of China’s government made it difficult for the company to get the licensing required to make money on new games, Tencent’s president said. Chinese regulators pulled another game because its content was deemed too gory. The admission was a rare acknowledgment of the outsize role China’s government can play in the fortunes of private companies.

Supreme Drop Is All Over the New York Post

Morning commuters were hard-pressed to find a copy of The New York Post at newsstands on Monday. The rush on The Post had nothing to do with the news and everything to do with a wraparound promotion with Supreme, the streetwear brand. Supreme, which opened in 1994, has become the ne plus ultra of streetwear brands, famously selling out its new collections — or “drops” — within hours. Supreme has also become known for unorthodox partnerships. The Post dressed its entire newsstand run in a full wraparound cover with the Supreme logo, the first time it had done so for any brand.