Tour de headlines

JPMorgan is suing customers over “infinite money glitch.” It turns out that banks don’t just let people steal money from ATMs. JPMorgan filed lawsuits in three federal courts against customers who allegedly took thousands of dollars from machines by depositing bad checks and withdrawing funds in an illegal loophole that went viral on TikTok earlier this year. One Houston, TX, man owes JPMorgan nearly $300,000, the bank said.

Though the suits are civil, JPMorgan has referred cases to law enforcement and is still investigating thousands of other incidents across the US. The bank wants the stolen funds returned with interest.

Google weathered a bumpy quarter to beat earnings estimates. Google parent Alphabet reported Q3 earnings yesterday, besting analyst forecasts with over $88 billion in revenue, which sent the stock up in after-hours trading.

Google’s third quarter was full of challenges: It restructured teams to optimize for the AI race and faced multiple antitrust lawsuits, one of which found the company guilty of being an illegal search monopoly. But the tech giant appears no worse for wear thanks to increases in Cloud and YouTube ad revenue. In other earnings news, Chipotle missed expectations in its first report since CEO Brian Niccol defected to Starbucks.

TGI Fridays closed dozens of stores ahead of rumored bankruptcy. Like many chain restaurants, the spot where your entire high school would get dinner before going to the movies on a Friday night is having a tough go of it. TGI Fridays abruptly closed ~50 locations this week, CNN reported, as the casual chain known for its endless apps reportedly weighs bankruptcy. Fridays had 270 locations in the US at the beginning of the year but is down to 164 today amid competition from lower-cost restaurants and a mounting pile of debt. Red Lobster, Buca di Beppo, and other formerly popular casual dining chains have already filed for bankruptcy this year as consumers shift their spending habits to save money.—AE