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Update your iPhone or iPad: Israeli cyber-spy firm can hack you

Business / Business News /

WASHINGTON -- The much-talked-about hack that would allow governments to spy on your every move through your iPhone and iPad has become reality.

Apple issued a security update for those devices Thursday after researchers discovered spyware that turns hand-held Apple devices into the mother of all snoops, allowing remote operators to intercept ...Read more

Kraft Heinz laying off about 200 workers

Business / Business News /

CHICAGO -- Kraft Heinz announced Thursday afternoon that it's laying off about 200 employees in the U.S. and Canada as part of ongoing efforts to reduce costs.

In a statement, Kraft Heinz spokesman Michael Mullen called the layoffs a "difficult but necessary decision." He declined to say if any of those jobs would be cut from the company's ...Read more

Amazon plans to open a Chicago bookstore

Business / Business News /

CHICAGO -- Amazon is opening an offline bookstore in Chicago.

"We are excited to be bringing Amazon Books to Southport in Chicago," Amazon spokeswoman Deborah Bass said in an email Thursday, referring to the street in the city's Lakeview neighborhood where the store will set up shop.

Bass said Amazon plans to open the store next year.

...Read more

'Flash crash' trader continues to fight extradition

Business / Business News /

CHICAGO -- "Flash crash" trader Navinder Singh Sarao continues to fight extradition from the United Kingdom to the U.S. over charges that he helped trigger a 2010 tumble in stock markets, court records show.

Sarao faces charges that include wire fraud, commodities fraud, commodities manipulation and spoofing in the U.S. for his suspected role ...Read more

Amazon launches car-browsing tool

Business / Business News /

SEATTLE -- Amazon.com now wants you to shop for vehicles on its site -- except it won't sell you a car.

On Thursday, the Seattle e-commerce juggernaut launched Amazon Vehicles, a destination on its online store that will house car specifications and reviews to help shoppers research car purchases on Amazon.com, just as they do when they lust ...Read more

Starbucks asks court to dismiss iced drink lawsuit in Chicago

Business / Business News /

CHICAGO -- Starbucks has asked a Chicago court to dismiss a lawsuit that accuses it of misrepresenting the sizes of its cold drinks, a week after a similar case was tossed in California.

The federal lawsuit in Chicago was first filed in May, but a new plaintiff was named last week. Thursday was the deadline to file a dismissal motion. The lead ...Read more

Texas jury says GM ignition didn't cause fatal crash

Business / Business News /

DETROIT -- A Texas jury found that an ignition switch in a 2007 Saturn Sky did not cause a 2011 crash that killed one person and injured another.

The jury, after deliberating less than an hour, delivered the verdict in state courtroom Thursday afternoon in Houston.

Zachary Stevens and his parents sued General Motors on the grounds that a ...Read more

EpiPen manufacturer says it will lower the cost of product

Business / Business News /

WASHINGTON -- The embattled drug company whose price hikes of an anti-allergy product sparked calls for a government investigation and a congressional hearing has announced plans to lower the cost of its EpiPen product to consumers.

The company said Thursday that it will increase the value of a savings coupon offered to purchase its epinephrine...Read more

Uber reportedly lost $1.3 billion in first six months of 2016

Business / Business News /

SAN FRANCISCO -- Uber may be gaining riders. It may be on the cutting edge of developing self-driving car technology. And it may soon be the centerpiece of a revival of downtown Oakland when its new offices and an anticipated 3,000 employees come to the East Bay in 2017.

But it's also a money-loser.

That's according to details given by Gautam ...Read more

Signet Jewelers lowers earnings outlook; stock plunges

Business / Business News /

AKRON, Ohio -- Signet Jewelers Ltd. on Thursday reported a sales decline for the second quarter and downgraded its sales and earnings outlook for the full year.

Shares sold off in early trading on the announcement. The stock price was down $12.51, or 13.1 percent, to $82.99 as of midday.

Signet, the Akron-headquartered operator of chain ...Read more

A year after Family Dollar deal, Dollar Tree hurt by lower store traffic

Business / Business News /

CHARLOTTE, N.C. -- Just over a year after buying Family Dollar, Dollar Tree said sales are up, but the retailer is feeling the pinch from lower customer traffic in its established stores.

The company reported second-quarter profit and revenue that missed Wall Street expectations, sending its shares plunging nearly 7.6 percent in pre-market ...Read more

The affordable shore: Why Indiana living appeals to Chicago commuters

Business / Business News /

CHICAGO -- When Beth Doherty found her future home in Indiana, it was by mistake.

Visiting property her sister-in-law purchased in 2002, she discovered Beverly Shores, Ind., where she and her husband moved in 2010 after living in Chicago's Bucktown neighborhood for two decades.

"You can see the skyline from the shore, and there's all these ...Read more

Real estate Q&A: Credit scores aren't the be-all, end-all

Business / Business News /

Q: Our home was foreclosed by our first mortgage lender several years ago, leaving the second mortgage unpaid. After we got back on our feet financially three years ago, I began trying to reach out to the second mortgage lender to work things out. The lender would not speak to me about it, other than to say the loan was charged off. Because the ...Read more

The Mortgage Professor: Do large principal payments reduce monthly payments?

Business / Business News /

On home mortgages, a large payment to principal reduces the loan balance and with it the fully-amortizing monthly payment, or FAMP. FAMP is the level of monthly payment required to repay the mortgage fully over its remaining term. Many borrowers would like a mortgage on which the monthly payment would drop to the new, lower FAMP following a ...Read more

In LA, a walkable neighborhood comes at a price

Business / Business News /

LOS ANGELES -- Nobody walks in LA, as the saying goes.

But many people want to and will pay more to live in more walkable neighborhoods where they can stroll to work, shops and restaurants from home. It's a rare luxury in most metropolitan areas and one worth thousands of dollars on average, according to new research.

Home workers are willing ...Read more

Clinton's attacks on drug pricing leave health stocks reeling

Business / Business News /

WASHINGTON -- Drugmakers are learning to duck for cover when Hillary Clinton puts them in her sights.

The Democratic presidential nominee's influence was on display again Wednesday, when she sent Mylan NV's shares plummeting as much as 6.2 percent within minutes of calling for the company to drop prices of its EpiPen emergency allergy shot. It ...Read more

For young kids, YouTube beats Disney, Oreo

Business / Business News /

A new study has determined something most astute parents are already hip to: YouTube is the most-loved brand with their young kids.

The Alphabet-owned digital video service scored highest with kids ages 6 to 12 for the first time in market research firm's Smarty Pants eighth annual "Brand Love" study. YouTube beat out more traditional kid-...Read more

How being an underdog drove ex-Hornet Muggsy Bogues to succeed

Business / Business News /

Tyrone "Muggsy" Bogues was once shot when he was five years old living in housing projects in East Baltimore. He says he was at the wrong place at the wrong time.

But that day marked a big change for Bogues, arguably the most popular Charlotte Hornet in franchise history who, at 5 foot 3 inches, also was the shortest player in the history of a ...Read more

At Fox News, election year's big ratings mask lots of wrinkles

Business / Business News /

LOS ANGELES -- 21st Century Fox has a problem at its news channel that isn't Roger Ailes: the network's aging audience.

Fox News's average prime-time viewer was 68 in the second quarter, according to Nielsen data the network pointed to, and has been above 65 for years. That tarnishes what's likely to be the best year ever for Fox News, the most...Read more

Uber drivers' new option: Start a retirement account through the app

Business / Business News /

Uber has teamed up with an automated investor service to offer its drivers a way to set up retirement accounts through the ride-hailing app.

As part of a pilot program, drivers in certain markets can use the Uber app to open an IRA or Roth IRA through robo-advisor Betterment without a required minimum account balance.

Drivers can use the ...Read more