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A new Southern District of New York lawsuit alleges Estée Lauder retail sales in Asia relied on “a pervasive, prohibited gray market resale industry” and prohibited, duty-free resellers called daigou. One stockholder has sued Estée Lauder’s board in Manhattan federal court on Tuesday over the company’s practices in this market. The plaintiff, Portia McCollum, wants to force the directors to repay Estée Lauder for their alleged misconduct. She’s merely seeking to recoup attorney’s fees and legal costs associated with bringing the action, not a traditional monetary judgment in her favor. The complaint alleges the company’s Asian travel-retail sales channel, a critical growth market for the makeup and perfume house, exploited duty-free tax exemptions. McCollum names 13 current and former directors and officers, including Chairman William P. Lauder of the eponymous family dynasty. The action pleads seven counts, seeking an accounting of salaries, bonuses...

AI company CoreWeave has lost one-third of its value since the day it joined the Nasdaq 100 index, despite doubling revenue in the second quarter and boasting of $100 billion in backlogged revenue. As common shareholders have suffered, insiders have been steadily selling.  Since Nasdaq 100 indexation became effective on June 22, 2026 and forced retirement savers to passively buy CoreWeave shares through hundreds of Nasdaq 100-linked funds around the world, executives and board members at the company have dumped over $600 million worth of stock. CEO Michael Intrator has liquidated over $320 million Co-founder Brannin McBee has sold $220 million Kristen McVeety, general counsel and corporate secretary, has sold over $22 million The company’s CSO, CFO, COO, and CAO have sold a combined $36 million CoreWeave since IPO. Source: TradingView CoreWeave’s stock hit its all-time high of $187 on June 20, 2025, almost a year before it became a constitue...

Crypto exchange Hyperliquid is paying traders 500% a year to hold long oil derivatives. Payouts are hourly as an additional reward atop the price appreciation of oil itself which has regained $100 per barrel. Of course, if it sounds too good to be true, it probably is. There are no free lunches on Wall Street. First of all, Hyperliquid offers extreme leverage — up to 20x on Brent oil, for example — so unremarkable, intraday price fluctuations can easily wipe out a portfolio. Moreover, even unlevered trades on Hyperliquid inherit innumerable financial risks from bugs, hackers, market manipulators, vulnerable technologies, and offshore counterparties. Still, Brent and WTI oil perpetuals on the crypto exchange printed deeply negative hourly funding rates today, meaning that the short side of the trade is overcrowded and must pay fees to borrow margin exposure from less popular longs. Traders on the venue are so one-sided that shorts must pay 500% annualized fee...

AI models Claude, Grok, ChatGPT, and Gemini all appear to be experiencing outages today. Across the board, AI users are claiming that they can’t get the models, run by Anthropic, X, OpenAI, and Google respectively, to work. Fifteen different services offered by OpenAI are reportedly experiencing issues, which OpenAI is currently trying to fix. Claude’s status tracker detailed how its Mythos, Fable, and Opus models were affected, and it now claims that its Opus 4.8 and Opus 5 models are experiencing problems. The rest, it says, “ have recovered to baseline error rate .” you’re laughing? grok is down. claude is down. openai is down. the only coding model available today is gemini 3.8 flash… and you’re laughing?? pic.twitter.com/sE5WJ2YIjj — NIK (@ns123abc) September 3, 2026 This user claims the Gemini 3.8 model still appears to be working. Read more: Search engines fix Claude leak but Perplexity users’ files still online X confirmed t...