Little-understood Export-Import Bank becomes politically significant

Business / Business News /

WASHINGTON -- No politician wants to be accused of jeopardizing jobs in his or her state.

That's the corner Maine GOP Rep. Bruce Poliquin found himself in this fall, when Democrats attacked him for being out of touch with his district on reauthorization of the Export-Import Bank.

Since the bank's charter was allowed to expire in June, General ...Read more

Mobile app connects college students, peer tutors on demand 24-7

Business / Business News /

PHILADELPHIA -- Ethan Keiser, 24, is founder of StudyTree, a mobile app that connects college students for on-demand peer tutoring. The student-to-student solution creates a marketplace enabling students to either make money as a tutor or save money as a student. The University Platform allows universities to manage their own tutors on a budget ...Read more

Camera equipment company services movie theaters around the world

Business / Business News /

NORTH MIAMI, Fla. -- Steven Krams was 5 years old when his father took him to see the family comedy "Who Killed Doc Robbin" at the Elm Theater in Brooklyn, N.Y. But instead of looking at the screen, the young Krams kept staring up at the projection booth, intrigued by the beam of light emanating from within.

"My dad said, 'I know the ...Read more

Will self-serve beer render bartenders obsolete?

Business / Business News /

LOS ANGELES -- Your next draft may be pulled not by a bartender -- but by you.

A small but growing number of gastropubs and fast-casual restaurants are going self-serve, installing systems that enable drinkers to draw their own taps, similar to the soda fountain at McDonald's but far more sophisticated.

Establishments in the notoriously low-...Read more

What's it like to attend a big Apple event?

Business / Business News /

SAN JOSE, Calif. -- Nobody does "event" like Apple. Sure, there's Google's I/O and Microsoft's Build, jamming downtown San Francisco streets. But they're all Apple wannabes. Ever since co-founder Steve Jobs got all P.T. Barnum on us nearly 40 years ago, taking the stage to pitch, Apple has uppercased things and made them special. As in this ...Read more

Paltry US productivity gains are holding back wages and living standards

Business / Business News /

WASHINGTON -- Leroy and Lauri Dixon used to plow $40,000 a year into promoting their party-supply business in a dozen telephone books. Today they spend $4,000 less and reach a lot more people by advertising on Google, Yahoo and Bing.

Also gone are the house calls to potential customers; the Dixons and their staff of 15 at Party Plus Tents & ...Read more

Troy Wolverton: Android Pay works well, when you can use it

Business / Business News /

When it comes to using a smartphone to make purchases in retail stores, Apple Pay has been getting most of the attention.

But Android users now have a comparable alternative. Launched earlier this month, Android Pay not only sounds like Apple's payment feature, it works a lot like it.

I like Android Pay, but it suffers from the problem that ...Read more

Oculus VR founder Palmer Luckey talks GoPro, 'Minecraft' and eSports

Business / Business News /

LOS ANGELES -- A few years ago, journalism major Palmer Luckey dropped out of Cal State University, Long Beach to work on a device that would wrap a small computer monitor across a person's face.

With the company he founded, Oculus VR, ready to finally sell those virtual-reality display goggles to consumers early next year, the 23-year-old ...Read more

Inventor's motor aims to save millions in energy costs

Business / Business News /

KANSAS CITY, Mo. -- On the list of a million things Americans think about, electric motors are probably, oh, number a million and one.

But we're surrounded by them at home, at the office, in our cars, shopping for groceries -- hundreds of millions of them just for heating and cooling. And every one of them could be more efficient.

But people ...Read more

3-D laser printer captures 'maker' movement's attention

Business / Business News /

SEATTLE -- Entrepreneur Dan Shapiro has a long history in the high-tech industry. He founded Sparkbuy, a price-comparison site, was CEO of Google Comparison and launched photo-sharing service PhotoBucket.

But his most rewarding work, he says, has involved creating tangible things that people can touch and feel.

"It was building my dining-room ...Read more

Judge approves sale of Relativity TV business to lenders

Business / Business News /

NEW YORK -- A bankruptcy judge Tuesday approved a plan to sell the television assets of Relativity Media to a group of secured creditors, giving founder Ryan Kavanaugh a chance to reorganize the rest of the company.

Judge Michael E. Wiles, of the U.S. Bankruptcy Court in New York, approved the deal. A hearing is scheduled for Oct. 14 to decide ...Read more

Justices disagree in case involving DirecTV class-action lawsuit

Business / Business News /

WASHINGTON -- The Supreme Court's conservative justices have long been skeptical of class-action lawsuits that may be profitable for trial lawyers but can be costly to companies.

Judges in California have leaned the other way, fearing consumers and employees will be shortchanged if they cannot sue as a class.

This long-running East Coast-West ...Read more

The global economy is slowing as emerging markets struggle

Business / Business News /

WASHINGTON -- The global economy is slowing down.

The International Monetary Fund on Tuesday lowered its forecast for worldwide growth as a deceleration in China and other emerging markets is offsetting modest gains in the United States and developed nations.

The global economy will expand 3.1 percent this year, down from 3.4 percent last year...Read more

Reddit launches Upvoted, a stand-alone site for original content

Business / Business News /

Online community Reddit on Tuesday launched Upvoted, a stand-alone website to house original content inspired by or related to posts from the expansive online forum.

In a post published to Upvoted, Reddit co-founder Alexis Ohanian described the new site as a "hub to give the stories of Reddit -- from the seemingly ordinary to extraordinary -- ...Read more

Don't call it ABC Family anymore: Network is changing its name

Business / Business News /

It's the sort of reveal that might draw more bewildered reactions than finding out who "A" is on "Pretty Little Liars": ABC Family is changing its name.

Starting in January, the Disney-owned cable network will drop its current name and take on the moniker Freeform.

Network president Tom Ascheim said brand perception among its target audience -...Read more

Microsoft unveils Surface Book, other new Windows 10 products

Business / Business News /

NEW YORK -- Microsoft moved deeper into the hardware business, introducing Surface Book, the first laptop the company has ever built.

The device was one of several the Seattle-area company unveiled Tuesday at a media event as part of an effort to jumpstart adoption of Microsoft's hardware, from tablets to smartphones.

Microsoft invited a few ...Read more

Wall Street shows interest in possible Lionsgate, Starz merger

Business / Business News /

LOS ANGELES -- Lionsgate and Starz shares opened higher Tuesday as Wall Street expressed enthusiasm for a potential merger between the two companies.

Lionsgate topped $40 a share in morning trading -- near an all-time high. Its shares then settled in around $39 a share. Starz shares opened higher before erasing much of its gains. By mid-morning...Read more

Biggest banks battle to keep fed pot of gold out of highway bill

Business / Business News /

WASHINGTON -- Wall Street is desperately trying to persuade U.S. House lawmakers to kill a proposal that would use money from banks to fix the nation's highways. A key concern is that once Congress taps the finance industry to help fund infrastructure projects, it won't be able to stop.

At stake is an annual dividend of 6 percent the banks ...Read more

As exports fall, US trade deficit balloons to five-month high

Business / Business News /

WASHINGTON -- The rising value of the dollar and the slowing global economy caused exports to drop in August, pushing the U.S. trade deficit to its widest level in five months.

The nation imported $48.3 billion more in goods and services than it exported in August, a nearly 16 percent increase from the previous month's deficit, the Commerce ...Read more

Walkouts loom as UAW-Fiat Chrysler talks sour

Business / Business News /

DETROIT -- Discussions between the UAW union and Fiat Chrysler Automobiles aimed at restructuring a tentative agreement overwhelmingly rejected by workers have reached a critical juncture with the union issuing a strike notice.

The strike notice came as two people familiar with the talks told the Detroit Free Press that negotiations had, at ...Read more

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