• Guido Gabrielli is leaving restaurant tech company Otter after five years, per a company email viewed by BI.
• Otter's new head is Ashvin Kumar, who most recently worked at fintech Affirm.
• Otter is a nearly $70 million a year business, Travis Kalanick wrote in an email to staff.

One of Travis Kalanick's key businesses just named a new leader, according to a company email reviewed by Business Insider.

Guido Gabrielli is leaving Otter, the restaurant tech arm of City Storage Systems, per the company email sent by Kalanick.

He is replaced by entrepreneur Ashvin Kumar, who comes from Affirm.

Gabrielli is "moving on to a new chapter in his career of substance," Kalanick wrote about Otter's head, who joined the company from Uber. "He has been a part of CSS since the early days, with us for 5 years and has taken Otter from a scrappy upstart to the almost $70mm/yr business it is today."

Otter's global businesses include order management for platforms such as DoorDash, a virtual-menu arm, a revenue-recapture business that claws back money owed to restaurants, and a point-of-sale system. In early May, Gabrielli told Otter staff that the company had 100,000 restaurants paying for at least one service, BI previously reported.

The company's technology is used by customers of CSS's other arm, CloudKitchens, which renovates warehouses into ghost-kitchen facilities for mom-and-pop restaurateurs and big companies such as Chick-fil-A.

Otter has, at times, struggled with glitchy software and customer support. Last year, a CloudKitchens operator invited to speak at an all-hands meeting complained about the system, BI previously reported. In response, Gabrielli sent a Slack message to the full company promising better customer service.

Otter has also seen some personnel stumbles. The company ran a controversial sales boot camp that went off the rails before it was shut down last year, BI reported. And, like many peers, Otter has cut staff in multiple layoff rounds after the pandemic.

Kumar comes from Affirm, where he was a vice president working on special projects. Before his stint at the fintech company, he founded the social auction app Tophatter, which shut down in 2022.

"I've known Ashvin since the late 2000's Silicon Valley entrepreneur community. I couldn't be more excited about having him take the helm," Kalanick wrote in the company email.

In fall 2021, Kalanick raised $850 million for CSS from investors, including Microsoft, at a $15 billion valuation. Since then, the company has faced similar headwinds to the rest of the tech and real-estate industries, including higher interest rates and slower customer-demand growth than during the pandemic boom.

Through CSS, Kalanick wants to reinvent the business of food, just as he upended transportation by cofounding Uber.

BI reached out to Gabrielli, Kumar, and a representative for CSS about the leadership change. None responded to the request for comment, sent outside normal business hours.

Do you have a CSS story to share? Reach out to this reporter using a nonwork phone on Signal and Telegram at 646 768 1627.

• A bankruptcy judge ruled that The Onion cannot buy Alex Jones' Infowars.
• The judge said the auction was flawed and may have "left a lot of money on the table."
• The Onion said it will continue trying to buy Infowars.

A Texas bankruptcy judge ruled that The Onion's bid for Alex Jones's Infowars cannot go forward.

Last month, after the purchase was announced, Judge Christopher Lopez of the Southern District of Texas' US Bankruptcy Court voiced discomfort about the auction for the site, including the fact that offers weren't shared between rival bidders.

"Nobody should feel comfortable with the results of the auction," Lopez said at the time, after designated backup bidder First American United Companies — a company affiliated with Jones's supplement business — requested a hearing.

After the sale was put on hold, Lopez heard testimony at a hearing Monday. He ruled on Tuesday night that while all parties acted in good faith, the closed auction for Infowars did not bring the highest possible bids for the website.

"I don't really care who wins," Lopez said.

A lower purchase price for Infowars means less money to Jones' creditors, including families from Sandy Hook, Connecticut, who won a significant defamation lawsuit against him.

The process "simply did not maximize value in any way, based upon the record before me," Lopez said during his judgment on Tuesday.

He later added, "It's clear the trustee left a lot of money on the table, or the potential for a lot of money on the table."

The Onion initially prevailed at auction despite the fact that its cash bid was less than First American United Companies' bid $3.5 million for Infowars.

However, as part of The Onion's bid — which it tendered in partnership with some Sandy Hook families — the families opted to give up their profits from the sale to make money on the reimagined website under The Onion, according to Reuters. This made it a better offer than First American United's in the eyes of bankruptcy trustee Christopher Murray because it would mean more money for Jones's other creditors.

The judge sent the sale process back to Murray. "I'm not asking for your answers today," he told Murray.

Leila Brillson, The Onion's chief marketing officer, said in a statement after the ruling that the company will continue trying to buy Infowars.

"We appreciate that the court repeatedly recognized The Onion acted in good faith, but are disappointed that everyone was sent back to the drawing board with no winner, and no clear path forward for any bidder," Brillson said.

Jones was forced to liquidate his assets after losing a roughly $1.4 billion defamation lawsuit against the families of Sandy Hook Elementary School for repeatedly claiming the mass shooting was a government hoax.

Chris Mattei, an attorney for the Connecticut families, said in a statement that the group is disappointed by the judge's verdict.

"These families, who have already persevered through countless delays and roadblocks, remain resilient and determined as ever to hold Alex Jones and his corrupt businesses accountable for the harm he has caused," Mattei said.

As the Jones-affiliated company contested the auction, Elon Musk's X also became a part of Monday's proceedings, with lawyers for the social network asking the judge to block the transfer of Jones's and Infowars' X accounts to The Onion, arguing they were owned by X, according to Bloomberg.

The Onion CEO Ben Collins previously said he intended to turn Infowars into an "alt-media" parody hub.

• South Korean officials found that children's clothes from Temu and AliExpress contained toxic substances.
• Many fashion brands use toxic chemicals like PFAS and phthalates, which have come under increasing scrutiny.
• Consumers face less risk getting sick from these ingredients in clothing than textile plant workers do.

Editor's note: This list was first published in August 2022 and has been updated to reflect recent developments.

Chinese fast-fashion companies are coming under renewed scrutiny for toxic chemicals, a problem that has plagued the fashion industry globally.

On Friday, Korean officials said they tested 26 pieces of children's winter wear from Temu, AliExpress, and Shein and found that seven contained toxic substances like phthalate plasticizers, lead, and cadmium. 

A children's jacket from Temu contained 622 times the legal limit for phthalate plasticizers, a chemical compound that makes plastics more flexible. Spokespeople for AliExpress and Temu said the products were removed, while a Shein spokesperson said the tested products were in compliance with regulations. 

This is not the first time South Korea has found toxic chemicals in items from Chinese fast-fashion brands. In August, the Seoul Metropolitan Government found phthalates in some pairs of shoes, with one particular pair containing 229 times the legal limit. The same investigation revealed that sandal insoles sold by Temu contained 11 times more lead than legally permissible.

And in an earlier investigation in May, Seoul officials said that they tested a pair of Shein shoes, and found that it contained 428 times the permitted levels of phthalates, according to the AFP.

Experts said that many large clothing brands like Lululemon, Old Navy, and REI have been found to contain toxic chemicals in their clothes. While these chemicals are used at relatively low levels, exposure to toxic substances over time can elevate a person's risks of serious health conditions, such as asthma and kidney damage.

"It's not just people are exposed to one on a regular day," Alexandra McNair Quinn, a chemical sustainability consultant and founder of Fashion FWD, a nonprofit educating consumers about toxic chemicals in clothes, told BI in 2022. "It's the accumulation of all of these exposures in a regular day can be very harmful."

Why chemicals are so pervasive in fashion

The use of chemicals like PFAS and lead is "fairly common" within the fashion industry, Marty Mulvihill, a general partner with Safer Made, a venture capital fund that invests in firms reducing exposure to harmful chemicals.

Yoga pants and gym leggings sold by Lululemon and Old Navy contained PFAS, according to testing done by consumer health activist blog Mamavation. Outdoor apparel brands Columbia, REI, and L.L. Bean received either a D or F grading for PFAS by Fashion FWD, a non-profit educating consumers about toxic chemicals in clothes.

(In 2022, REI and L. L. Bean reiterated their commitment to product safety in statements to BI. Columbia, Lululemon, Old Navy, and Shein did not respond to BI's requests for comment at the time.)

A 2012 sample of clothes from popular retailers detected phthalates in 31 garments, and lead had been found in baby bibs sold in Walmart and Babies R Us, BI previously reported.

Quinn said manufacturers can add these chemicals to make them waterproof or stain-resistant, and soften ink on screen prints. Lead is sometimes found in low-cost pigments and inks, as well as zippers, and chromium can make leather more pliable.

Exposure to toxic chemicals builds up over time 

Exposure to substances like lead and phthalates may directly harm people manufacturing clothes more than consumers, said Scott Echols in 2022. Echols is a senior director at the ZDHC Foundation, which works with companies to limit their chemical footprint.

The sustainable fashion analytics firm Common Objective estimated in 2018 that 27 million people working in fashion supply chains worldwide might suffer from work-related illnesses or diseases, including skin and respiratory conditions.

Plus, the exposure to toxic chemicals builds up over time, Quinn said. Not only are these chemicals in clothing, they exist in our food, water, makeup, and personal care products. 

"PFAS don't just go away, they're around for very, very long time and they're very harmful to the environment and to human health," Quinn said. "The government needs to develop a preventative approach where products don't go on the market until they're proven safe."

How to spot chemicals in clothes, including lead, flame retardants, and 'forever chemicals'

Quinn told BI that toxic chemicals used to make clothes include: 

• Chromium, used in leather products that can weaken the immune system and lead to liver and kidney damage.
• Phthalates, which are used to soften the ink on screen prints. BI's Andrea Michelson reported phthalates has been linked to early deaths in American adults, especially due to heart disease, and can disrupt the body's hormones. 
• Brominated flame retardants, which are sometimes found in children's pajamas to protect them from house fires. These chemicals, which are banned in Europe, can change thyroid functions and shift the way the body processes fats and carbs. Researchers are studying whether a link exists between flame retardant exposure and ADHD, BI previously reported.
• PFAS, also known as "forever chemicals," are a group of lab-grown chemicals that don't break down in the environment and are linked to a host of health conditions like liver damage, asthma, and chronic kidney disease. The substance is water resistant and can be found in waterproof or stain-resistant gear, Quinn said.
• Lead, a low-cost pigment or sometimes used as a cheap metal for zippers. Significant childhood lead exposure can lead to long-term developmental problems.

How to avoid chemicals in clothes

Washing new clothing is an important step in reducing residual substances, including potential toxins. Use hot water if the clothes' instructions allow it.

To avoid purchasing clothing with PFAS, check your label for materials like Gore-Tex or Teflon, which could signal that the chemicals were used in the fabric. But the bigger concern is how those clothes affect the world around us.

"The biggest issue associated with consumer products isn't necessarily the direct exposure that we get from the products, but what gets released into the environment when those products are produced," Jamie DeWitt, the director of the Environmental Health Sciences Center at Oregon State University, told BI in 2019.

In 2023, Laura Hardman, then the director of the Ocean Wise Plastic Initiative at the Ocean Wise Plastic Lab in Vancouver, Canada, told BI that she buys clothing made from natural fibers and dyes for her and her child. 

"A lot of people make sure their babies' clothes are organic, cotton, and made with child-friendly dyes, but they're not aware of their own clothing. Your baby is probably sucking on your clothes more than she's sucking on hers," said Hardman, who now works with Dubai-based consultancy Sustainability Excellence. 

• Elon Musk and Vivek Ramaswamy have plans for DOGE, and Workday sees an opportunity.
• Workday aims to capitalize on federal agencies' shift from on-premises to cloud systems, its CEO said.
• The federal government, the largest US employer, could face layoffs under DOGE's agenda.

As Elon Musk and Vivek Ramaswamy gear up to try to reshape large swaths of the federal government, one big software player sees an opportunity.

Workday, the human-resources-software company that workers love to hate, is embedded in more than half of Fortune 500 companies. The $72 billion company has been building up its government customer base, from Oklahoma's Tulsa County to the US Department of Energy. In 2022, Workday was approved to work with the federal government.

Now that Musk and Ramaswamy's Department of Government Efficiency is set to advise President-elect Donald Trump on rescinding regulations and cutting administrative costs, Workday and other government vendors could stand to benefit.

On Workday's Tuesday earnings call, CEO Carl Eschenbach addressed an analyst's question about how DOGE could impact Workday's business.

Eschenbach said more than 80% of the federal government's HR systems were physically housed on local servers, what's called "on-premises." Companies and organizations have been steadily migrating from on-premises servers to the cloud for cost savings, better security, and efficiency, among other benefits.

"Postelection and with DOGE coming out, people are absolutely looking to drive more economies of scale and more efficiency. And I can tell you supporting these on-premises, antiquated systems is not a way to do that," Eschenbach said.

Eschenbach added that federal agencies were at an "inflection point" and ready to move to the cloud — and Workday has a government-focused product to sell them.

"We think this will only be a tailwind for us as we think about the federal government business going forward," he said.

Workday said in May that it would work with the Department of Energy and the Defense Intelligence Agency.

"These are critical wins for us and it's actually driving demand for us in the federal government as people recognize Workday is really pushing hard into that market," Eschenbach said on Tuesday's call.

In the last quarter, Workday brought in $2.2 billion in revenue — a 16% increase from last year. The company doesn't break out revenue by customer type. Workday's stock is up 14% in the past year.

The company didn't respond to a request for comment sent outside business hours.

Last week, Musk and Ramaswamy named several of DOGE's targets in a Wall Street Journal opinion column: work-from-home arrangements, Planned Parenthood, the Corporation for Public Broadcasting, and general head count, among others.

"DOGE intends to work with embedded appointees in agencies to identify the minimum number of employees required at an agency for it to perform its constitutionally permissible and statutorily mandated functions," the pair wrote.

The federal government is the largest employer in the US, with a workforce of more than 2 million Americans, so the group's suggestions could have wide-ranging implications.

The Washington Post reported on Sunday that notable Silicon Valley figures — including the Palantir cofounder Joe Lonsdale, the investor Marc Andreessen, the hedge-fund manager Bill Ackman, and the former Uber CEO turned food-tech entrepreneur Travis Kalanick — had been involved in DOGE's early planning.

• On Wednesday, Gautam Adani was charged by US prosecutors in a massive bribery scheme.
• The charges have spurred an investor revolt and at least one customer to back out of major deals.
• Adani is the 2nd-richest person in India, behind Mukesh Ambani.

Gautam Adani, the second-richest person in India, is facing bribery charges in the US and business tumult globally.

Adani is the founder and chairman of the Adani Group, a multinational conglomerate with businesses spanning energy, mining, ports, and airports. The Adani Group owns India's largest commercial port and has a controlling stake in Mumbai's international airport.

On Wednesday, New York prosecutors said Adani executives paid hundreds of millions of dollars in bribes to the Indian government and hid them from US investors. The Adani Group called the allegations "baseless." 

The charges wiped out billions from Adani's and his brother's paper fortunes. Shares of companies related to Adani, including his flagship Adani Enterprises, Adani Green Energy, and Adani Ports and Special Economic Zone Ltd., crashed 20% in the first two hours of trade on Thursday, wiping out more than $30 billion.

The charges led to immediate business fallout. Following the news, Adani Green Energy canceled plans to raise $600 million in US dollar-denominated bonds, the company said in a statement to the National Stock Exchange of India. On Thursday, Kenya's president canceled deals with the Adani Group for its main airport and for power line construction. 

A short seller's report sent stocks down

The indictment isn't the first serious bout of trouble for Adani.

A 2023 report by Hindenburg Research, an investment-research firm and short seller, sent Adani's wealth on a downward spiral. In the report, which Hindenburg said took two years to compile, the short-seller accused the Adani Group of a "brazen stock manipulation and accounting fraud scheme." Adani companies' stocks tumbled but later recovered.

The Adani Group has said it was exploring legal action against Hindenburg and released a 413-page report which said that Hindenburg's claims were "nothing but a lie." It called Hindenburg's document a "malicious combination of selective misinformation and concealed facts relating to baseless and discredited allegations." 

Hindenburg criticized the group's response, saying it failed to address many of its questions.

Adani Group did not ultimately sue Hindenburg over the report.

From diamond sorter to tycoon

Adani was born in Ahmedabad, in the Indian state of Gujarat, in 1962. He dropped out of university after his second year studying commerce, according to Silicon India. He then turned to the diamond industry, first as a sorter and then as a trader in Mumbai.

After his brother purchased a plastic company, Adani started working with him and began importing PVC. In 1988, he set up Adani Enterprises.

Today, the Adani Group comprises 10 listed companies with a combined 46,000 employees.

The billionaire is a key ally of Prime Minister Narendra Modi, whose government has inked infrastructure and other deals with Adani's companies. Bloomberg deemed Modi "the foundation of the tycoon's empire."

• Nvidia beat forecasts again in its third-quarter results on Wednesday.
• CEO Jensen Huang said more Blackwell chips will be delivered this quarter than previously estimated.
• One analyst says some investors are concerned about a possible slowdown in future growth.

Nvidia delivered another strong set of quarterly results after the bell on Wednesday, beating estimates. Here's what analysts are saying about the world's most valuable company.

Wedbush analysts, including Dan Ives, issued another typically bullish note on Thursday:

"In another earnings performance for the ages Nvidia delivered a $2 billion top-line beat with $35 billion of sales showing a $5 billion sequential increase driven by flagship data center sales. We would characterize results as another earnings press release from Nvidia that should be framed and hung in the Louvre given these eye popping results and unprecedented growth from the Godfather of AI Jensen and Nvidia.

"The LeBron of chip releases, next generation Blackwell appears to ramping even faster than expected with NO overheating issues and appears to be on a massive demand trajectory ahead of the Street that our Wedbush Global Tech Team is tracking very closely throughout the Asia supply chain."

Konstantin Oldenburger at CMC Markets said Nvidia had exceeded forecasts again, but some question marks remained.

"What stuck in people's minds was the possibility of a slowdown in future growth. The gross margin, which previously only knew one direction — up — to a whopping 75% of revenue, is expected to fall to 'only' 73% in the current quarter.

"Even if the competition can only dream of such figures, investors, who have been accustomed to success, now fear an end to Nvidia's growth story. Whether the fear is justified will become clear when the new chip generation Blackwell is delivered in the coming months," he wrote.

Deutsche Bank analysts said the results drew a "tepid reaction" because its guidance "failed to match some of the loftiest expectations."

They wrote in a note that third-quarter sales came in at $35.1 billion, above the $33.2 billion estimate. However, the fourth-quarter sales guidance was $37.5 billion "was 'only' a touch above the average analyst estimate of $37.1 billion."

"Overall it was deemed to be a slightly underwhelming outcome," they added.

Dan Coatsworth at AJ Bell said Nvidia had again posted blockbuster growth. "What's troubled investors this time was a quarter-on-quarter decline in gross margins, with guidance for them to fall further in the coming quarter, and weaker than expected forward guidance for revenue.

"Investors have enjoyed stellar share price gains from Nvidia over the past two years and that's made them think it is invincible. In reality, a small decline in margins is not a reason to panic, particularly when they are still over 70% which many companies could only dream of. Nvidia is confident margins will rebound as production volumes ramp up for its Blackwell chips."

HSBC analysts wrote in a note that they expect "significant" earnings upside for the 2026 financial year despite gross margin pressure.

Stephen Yiu, who manages the $1.4 billion London-based Blue Whale growth fund, invested 10% of the fund — the limit for any one stock. He told Bloomberg TV he wished he could have bought more Nvidia stock because he's so bullish on AI infrastructure.

"We need to believe in how AI is going to change the world in terms of our day-to-day," he said. "Nvidia remains the center of that AI transformation."

• Russia's central bank has been hiking its key interest rate to combat inflation.
• Top central banker Elvira Nabiullina says the fight is almost over, with inflation expected to slow.
• Business leaders have slammed Russia's increasing interest rate, saying it restricted their growth.

A key Russian official said an economic turnaround is on the horizon.

Russia's top central banker, Elvira Nabiullina, told the government yesterday that the country is approaching a "turning point" for inflation and interest rates, Moscow-based RBC Group reported.

Nabiullina told the State Duma that inflation should slow, though she did not specify when that would happen. Inflation hit 9.8% in September.

"We believe that our policy will reduce inflation to 4.5 to 5% next year, and then stabilize it near 4%. As it slows down, we will consider a gradual reduction in the key rate. If there are no additional external shocks, the reduction will begin next year," she said.

She indicated that credit activity is slowing because of the higher rate but said some industries have continued borrowing.

Earlier this month, local officials and business leaders shared pessimistic economic outlooks for the coming year at an economic forum.

Soaring prices and a difficult outlook on the ground

Nabiullina's comments come as the war in Ukraine approaches its three-year anniversary and inflation in Russia hits sky-high levels.

Last month, to tame prices, Russia's central bank hiked its key interest rate to a record high of 21%. The bank said earlier this month that it could hike the key rate again at its next meeting in December.

The government continues to spend big on defense. In September, Russia hiked its 2025 national defense state spending by 25%, to over $145 billion, signaling its resolve to continue its war in Ukraine.

For ordinary Russians, the effects of inflation are being felt on the ground level. The cost of staples like butter and potatoes is up over 25% each this year.

The country is also seeing shortages in the workforce and a population crisis.

And while Nabiullina's comments this week indicate a positive change is near, other leaders in Russia have expressed a gloomier economic outlook.

Andrei Klepach, the chief economist at the state-run development entity VEB.RF, predicted that, in the best case, economic growth would fall from an estimated 2.5% to around 2% in 2025. He also downgraded Russia's fixed capital investment growth from 1.9% to 1%, blaming the central bank's key rate.

Alexander Shokhin, the president of the Russian Union of Industrialists and Entrepreneurs, said high interest rates were forcing companies to delay investments.