No one on Kentucky hazmat team got new training for rail oil spills

Business / Business News /

WASHINGTON -- A Kentucky oil train terminal illustrates a persistent gap between the risks posed by increasing volumes of crude oil moving by rail and the training available to local first responders specifically for it.

Continental Refining, which operates a 5,500-barrel-a-day refinery in Somerset, Ky, announced this week that it plans to move...Read more

Here's how Mexican journalist avoided iPhone spyware hack

Business / Business News /

WASHINGTON -- Mexican investigative journalist Rafael Cabrera didn't take the bait.

Mysterious text messages would pop into his iPhone but he refrained from clicking on the links they contained. It saved his phone from turning into a surveillance tool, a digital ankle bracelet transmitting his every move, email and contact list entry.

Cabrera'...Read more

California's new climate bill may dampen growth but it won't cripple the economy

Business / Business News /

California's landmark climate bill, passed by the Assembly this week, has earned the ire of business groups that say it will cripple their industries. The law will not be a moneymaker for everyone, but it probably won't wreak havoc on the economy either, research shows.

The new legislation, SB 32, which Gov. Jerry Brown has vowed to approve, ...Read more

Sports Authority customer data sold to Dick's, but customers can opt out

Business / Business News /

As Sports Authority was holding going out-of-business sales and auctioning off store leases, it also sold its customers' data to rival Dick's Sporting Goods.

Customers who don't want Dick's to keep any personal information they gave Sports Authority do have a way to opt out, the bankrupt Colorado-based retailer said in an email to customers.

...Read more

Microsoft offers tool to report abusive content in its online services

Business / Business News /

SEATTLE -- Microsoft is making it easier to call out racist, sexist, or other abusive content on Xbox Live and the company's other online services.

On Friday, the company introduced a new web form people can use to report content that advocates violence or promotes hatred based on gender, race, sexual identity or other characteristics.

The ...Read more

Wine collection of indicted oil exec who died is being auctioned in Chicago

Business / Business News /

CHICAGO -- In the market for a double-magnum of 1990 Chateau Le Pin that once belonged to Oklahoma oil-and-gas magnate Aubrey McClendon?

Well then, you're in luck. McClendon's collection of more than 4,600 bottles will be auctioned Sept. 17 at Tru restaurant in Chicago, according to Hart Davis Hart, the Chicago-based wine vendor conducting the ...Read more

US economy grew at 1.1 percent rate, slower than first estimated

Business / Business News /

WASHINGTON -- The U.S. economy grew less than previously reported last quarter on lower government outlays and a bigger depletion of inventories, capping a sluggish first-half performance propped up mainly by consumer spending.

Gross domestic product, the value of all goods and services produced, rose at a 1.1 percent annualized rate, down from...Read more

Carl Icahn buys 2.3 million Herbalife shares, flouting Bill Ackman's prediction

Business / Business News /

LOS ANGELES -- A long-running feud over Herbalife Ltd. between billionaire hedge fund managers Carl Icahn and Bill Ackman heated up Friday, with Ackman saying that Icahn was looking to sell his stake in the Los Angeles maker of nutritional supplements and Icahn saying that's not the case.

Icahn said Friday afternoon that not only is he not ...Read more

Case for interest rate hike 'has strengthened in recent months,' Fed chair says

Business / Business News /

WASHINGTON -- Federal Reserve Chair Janet Yellen signaled Friday that an increase in a key interest rate was on the table at the central bank's next meeting in September but that a hike was far from a sure thing.

In her first public comments in two months, Yellen said the economy was improving to the point that policymakers soon could nudge up ...Read more

Mexico said to consider tax cut for private equity investors

Business / Business News /

MEXICO CITY -- Mexico is evaluating ways to aid private equity investors and spur growth in the industry, including a reduction in the tax that funds pay to list companies on the stock exchange, according to four people with knowledge of the proposals.

The government may give funds incentive to take companies public by reducing the tax on sales...Read more

The Week Ahead: A lagging economic indicator could be leading

Business / Business News /

A common axiom among investors is that the stock market is a leading economic indicator. Traders and shareholders buy and sell stock based upon how they expect a company's business to perform several months down the road.

Employment data, like most economic statistics, is different. The numbers have to be collected, analyzed and reported. Big ...Read more

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 -- 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, 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