Senate leaves FCC seat empty, sets up partisan stalemate

Business / Business News /

WASHINGTON ––The Senate adjourned without confirming Jessica Rosenworcel to a second term on the Federal Communications Commission, forcing her out of office and setting up the agency for a partisan deadlock as the Republican administration of Donald J. Trump begins.

Without other changes, the Democrat's departure would leave the FCC ...Read more

Other nations join OPEC to cut oil output

Business / Business News /

VIENNA ––The Organization of the Petroleum Exporting Countries managed to broaden its efforts to cut oil output Saturday, when 11 countries outside the group joined a plan that is aimed at raising prices.

The non-OPEC countries agreed to reduce their output by 558,000 barrels per day, OPEC President Mohammed al-Sada announced in Vienna.

...Read more

Really? Most Americans don't suffer information overload

Business / Business News /

Wait, can this be right?

A new report from the Pew Research Center says that most Americans do not suffer from information overload -- even though many of us frequently say otherwise.

Only 20 percent of the 1,520 people surveyed by Pew in April said they feel overwhelmed, compared to 27 percent who were asked the same question in 2006.

This ...Read more

Aston Martin to build a limited run of DB4 GT 'continuation' cars

Business / Business News /

Start saving your shillings and get in line: Aston Martin will build and sell 25 units of a "continuation" of its historic DB4 GT race car, and they'll cost $1.9 million each.

The English car company will begin delivering the new DB4 GTs in late 2017 and hasn't released images of the vehicle yet.

But sources at the company say it will be a ...Read more

Michigan law permits cars with no steering wheels

Business / Business News /

SAN FRANCISCO -- The governor of Michigan signed a legislative package Friday that allows cars without steering wheels or drivers to be tested on the state's highways.

The plan is to make the state "the epicenter for driverless vehicle technology," said Gov. Rick Snyder.

Florida already allows testing of completely driverless cars. With the ...Read more

Rupert Murdoch seeks to add $14 billion crown jewel, British Sky, to Fox empire

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Five years after abandoning its bid for a British crown jewel amid a corporate scandal, Rupert Murdoch's 21st Century Fox is making another run for full control of Sky, the European pay-TV giant.

Fox on Friday disclosed its $14.1 billion offer for Sky, saying the company had agreed in principal to pay stockholders 10.75 British pounds for each ...Read more

PPG planning 1,700 global job cuts

Business / Business News /

PITTSBURGH -- PPG on Friday said it plans a broad cost-cutting program throughout its global operations that will generate annual savings of between $120 million and $130 million.

The Pittsburgh-based paint and coatings producer said the restructuring will result in a fourth-quarter pretax charge of $190 million to $200 million, or 53 cents to ...Read more

Rule change could allow in-flight phone calls

Business / Business News /

If airlines allow passengers to make in-flight cellphone calls, the carrier must notify passengers in advance, under a rule proposed by the U.S. Department of Transportation.

The rule, proposed this week, may be a moot question because the Department of Transportation is still considering a complete ban on airborne voice calls within, to or ...Read more

Coca-Cola CEO stepping down; successor tapped

Business / Business News /

ATLANTA -- Coca-Cola CEO Muhtar Kent is stepping down from his post, according to the Atlanta-based soft drink giant. He will be replaced by chief operating officer James Quincey effective May 1.

"Managing The Coca-Cola Company to ensure our long-term growth requires a thoughtful and orderly succession planning process," said Kent. "I have been...Read more

The Week Ahead: A test of tweeting and economic management

Business / Business News /

A year ago, we didn't have a president-elect taking to Twitter to castigate people and policies not to his liking. Today, we do.

Investors may be truly tested by this new reality for the first time in the week ahead.

In the past week, Boeing shareholders experienced the power of a tweet from President-elect Donald Trump, who on Tuesday wrote ...Read more

Mark Phelan: 9-speed transmission boosts Chevrolet fuel economy 2 percent

Business / Business News /

General Motors revealed details this week about a new nine-speed automatic transmission that's likely to become one of its best-selling gearboxes.

"We'll probably eventually see this transmission replace the six-speed automatic," Navigant Research senior analyst Sam Abuelsamid said.

The transmission improves fuel economy about 2 percent in a ...Read more

Trump to nominate former St. Louis lawyer and fast-food executive as labor secretary

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WASHINGTON -- President-elect Donald Trump said Thursday he would nominate St. Louis lawyer Andrew "Andy" Puzder, the current CEO of the fast-food chain CKE Restaurants, to be the next labor secretary.

Trump told The Associated Press that Puzder "will fight to make American workers safer and more prosperous by enforcing fair occupational safety...Read more

Trump picks fast-food executive to lead Labor Department

Business / Business News /

WASHINGTON -- Fast-food executive Andrew Puzder, President-elect Donald Trump's pick to be the next Labor Department secretary, turned around the Southern California-based parent company of Carl's Jr. and Hardee's with help from scantily clad women hawking oversized burgers in racy ads.

More recently, he's raised his own profile by becoming an ...Read more

Sailing soon from the US to Cuba: ships from Norwegian and Royal Caribbean

Business / Business News /

It's full steam ahead to Cuba for two of the world's major cruise companies.

Norwegian Cruise Line Holdings and Royal Caribbean Cruises, both Miami-based, signed agreements this week with the Cuban government just minutes apart to take passenger ships to the island nation.

All three of Norwegian's lines -- Norwegian Cruise Line, premium line ...Read more

Expect big holiday crowds at airports, airlines group says

Business / Business News /

LOS ANGELES -- A stronger economy and lower airfares are expected to increase the number of holiday air travelers by 3.5 percent this year.

During the 21-day holiday travel period starting Dec. 16, 45.2 million travelers will fly on U.S.-based airlines, prompting airlines to add extra flights or bigger planes to serve the travel surge, ...Read more

LA prosecutors accuse 4 big retailers of tricking shoppers

Business / Business News /

LOS ANGELES -- The Los Angeles city attorney's office has sued four big retailers, alleging deceptive advertising that it says misled shoppers into believing that thousands of products were on sale at a hefty discount.

The retailers -- JC Penney, Sears, Kohl's and Macy's -- falsely advertised high "list" or "regular" prices on merchandise that ...Read more

Microsoft seals $26 billion LinkedIn deal; now comes the hard part

Business / Business News /

SEATTLE -- Microsoft's $26 billion deal to purchase LinkedIn is the boldest risk the company has taken under Chief Executive Satya Nadella.

The deal, sealed on Thursday, also poses a question: Can Microsoft, formerly hostile to Silicon Valley, scoop up a Bay Area stalwart without breaking it?

LinkedIn gives Microsoft, whose Office and Windows ...Read more

Trump called 'risk factor' in company filings

Business / Business News /

CHICAGO -- In the list of potential risk factors that companies include in their regulatory filings, a new one has surfaced: Donald Trump.

Methode Electronics, a Chicago-based designer and maker of parts for automotive, appliance and other industries, on Thursday added the president-elect to its list of potential "risk factors." Disclosures of ...Read more

SpaceX customer switches a satellite launch order to European competitor

Business / Business News /

LOS ANGELES -- A SpaceX customer has switched to a European competitor for one satellite launch, citing delays in the space company's schedule after a September explosion.

Satellite communications firm Inmarsat said Thursday that it has signed a contract with French rocket company Arianespace to launch a satellite for the European Aviation ...Read more

Delta to offer new snacks on board

Business / Business News /

ATLANTA -- Delta Air Lines is upgrading its free snacks on flights and switching to yogurt bars, honey roasted peanuts and brand-name pretzels.

One thing that isn't changing in the snack lineup: The well-known Biscoff cookies, which are staying.

The free snacks are for flights longer than 250 miles. Depending on the length of the flight, ...Read more