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Airlines swim in cash but leave airport workers high and dry

Business / Business News /

After losing more than $50 billion in the decade following the Sept. 11 terrorist attacks, U.S. airlines have been enjoying some financially robust times of late.

On the front lines, airline employees are reaping billions of dollars in wage and benefit increases, plus profit-sharing plans that spell record payouts amid record income. At almost ...Read more

Mnuchin leaves Sears Holdings board as Trump eyes him for Treasury secretary

Business / Business News /

CHICAGO -- Days after news surfaced that President-elect Donald Trump is considering former Goldman Sachs executive Steven Mnuchin for Treasury secretary, Mnuchin says he is stepping down from Sears Holdings' board of directors.

The move is effective immediately, and reduces Sears Holdings' directors to nine, according to a news release.

...Read more

Mall of America welcomes its first black Santa

Business / Business News /

MINNEAPOLIS -- Dozens of Santas cycle through Twin Cities shopping centers each year, spreading joy to children who entrust them with their holiday wish lists. What has been missing from that experience, some parents say, was a Kriss Kringle who represented a wider swath of believers.

This week, for the first time in the Mall of America's 24-...Read more

US economy creates 178,000 jobs in November; jobless rate drops to 4.6 percent

Business / Business News /

WASHINGTON -- The U.S. economy produced another solid month of labor market growth, adding 178,000 net new jobs in November while the unemployment rate fell to a nine-year low, the Labor Department said Friday.

The latest jobs report virtually assures that Federal Reserve officials will raise a key interest rate this month.

The unemployment ...Read more

The Week Ahead: Is this the medicine drugmaker stocks need?

Business / Business News /

The political media may be focused on Donald Trump's Twitter feed and the lobby of his building in midtown Manhattan. But over on Capitol Hill, Congress is passing legislation.

And a bill that will head to the Senate in the week ahead could have far-reaching implications for drugmakers, companies that creative medical devices and investors.

...Read more

Mark Phelan: 48 volts power up cars for fuel economy, new features

Business / Business News /

The tipping point for cars to adopt more powerful 48-volt electric systems may be near as automakers turn to small electrically powered superchargers and other systems to deliver more performance from smaller engines.

"The initial conversion will be driven by the need to make vehicles that are fun to drive," Matti Vint, powertrain research and ...Read more

Obama to block Chinese takeover of German company on national security grounds, sources say

Business / Business News /

LONDON -- U.S. President Barack Obama is poised to block a Chinese company from buying Germany's Aixtron SE, people familiar with the matter said, which would mark only the third time in more than a quarter century that the White House has rejected an investment by an overseas buyer as a national security risk.

The president is expected Friday ...Read more

Wells Fargo customers harmed by fake accounts would get to sue under proposed legislation

Business / Business News /

WASHINGTON -- Wells Fargo & Co. customers who learned that bank employees opened accounts without their consent later discovered another problem when they tried to sue to recover lost fees and for other damages.

They couldn't.

The San Francisco-based bank says that clauses in contracts the customers signed when they opened legitimate accounts ...Read more

Schultz will hand CEO post to Starbucks president this spring

Business / Business News /

SEATTLE -- Starbucks chief Howard Schultz signaled another step back from day-to-day operations, announcing Thursday he will hand over the CEO post in April to Kevin Johnson, Starbucks' president and chief operating officer.

Schultz, 63, will remain chairman and, as he explained in July, will concentrate his efforts on long-term global strategy...Read more

Donald Trump scares Internet Archive into moving to Canada

Business / Business News /

WASHINGTON -- The internet was created in America. But is it safe in America? Some people don't think so.

A nonprofit group based in San Francisco has decided to "Trump-proof" its massive open-for-all internet library by storing it in Canada as well as the United States.

The group, the Internet Archive, which claims to save some 300 million ...Read more

Princess Cruises to pay $40 million fine for dumping oily waste and lying about it

Business / Business News /

Princess Cruise Lines has agreed to plead guilty and pay a $40 million fine for dumping illegal waste off the coast of England three years ago and trying to cover it up by lying to the U.S. Coast Guard.

The fine is the largest criminal penalty ever paid involving a deliberate dumping by a cruise ship, according to the U.S. Department of Justice...Read more

McDonald's first chief digital officer leaves, heads to Volvo

Business / Business News /

CHICAGO -- McDonald's first chief digital officer, who oversaw huge advancements in the burger giant's technology efforts, has left the company to join Volvo Car Group.

Atif Rafiq, 43, had been with McDonald's for just over three years. A veteran of Yahoo and Amazon.com, Rafiq was hired by McDonald's to bring the world's largest burger chain ...Read more

SpaceX could return to flight Dec. 16, satellite launch customer says

Business / Business News /

LOS ANGELES -- SpaceX could return to flight in about two weeks pending Federal Aviation Administration approval after a September explosion that destroyed one of its rockets, satellite launch customer Iridium Communications Inc. said Thursday.

The McLean, Va., satellite communications company said 10 of its satellites could launch aboard a ...Read more

On the House: Ah, trends, how they come and go

Business / Business News /

Every time I plop down in the Morris chair near the fireplace in my living room, I think of the day, maybe 15 years ago, when I first learned that the space my parents once called the parlor was on its way out.

At least, that's what Gopal Ahluwalia, who was vice president of research of the National Association of Home Builders for 32 years, ...Read more

Real estate Q&A: Can HOA ban campaigning or campaign signs?

Business / Business News /

Q: Our homeowner's association has a rule prohibiting soliciting. When candidates tried to campaign in our community for the recent elections, they were told they were not allowed to do so. Doesn't free speech trump (pardon the pun) this HOA rule, or is it also considered soliciting? On the same subject, can our association ban me from placing a...Read more

Consumer Confidential: Scams can turn holiday glee to gloom

Business / Business News /

As the Black Friday shopping spree spilled over into Cyber Monday, the FBI warned consumers to watch out for "increasingly aggressive and creative scams" that will make your holidays considerably less merry and bright.

That's not exactly a news flash, of course. If there's money being spent, it's a sure thing that scammers will be hunting for a...Read more

Here are some of the ways Trump might try to step away from his business

Business / Business News /

WASHINGTON -- Donald Trump's decision to step away "in total" from his business empire and apparently let his grown children run it is just one of a handful of options for him to lower the risk of conflicts of interest.

Virtually all of Trump's financial options, except the complete divestiture of his and his family members' vast real estate ...Read more

Breitbart News sees advertisers exit, calls Kellogg's decision 'un-American'

Business / Business News /

LOS ANGELES -- The Breitbart News Network is seeing some of its advertisers head for the exit doors and is responding in typical Breitbart fashion: by going on the counteroffensive, labeling one of them as "un-American" and calling it a war on conservatism.

Since Donald Trump's victory in the presidential election, Los Angeles-based Breitbart ...Read more

Auto seat-maker Adient announces move to Detroit

Business / Business News /

DETROIT -- Automotive seat manufacturer Adient announced Wednesday that it is moving its global headquarters to Detroit.

"This is a really big day for us," Adient chairman and CEO Bruce McDonald said at a news conference held across the street from the building it expects to move into within the next two years. "It's an exciting announcement ...Read more

OPEC agrees to curtail production

Business / Business News /

Oil ministers at the Organization of Petroleum Exporting Countries agreed to cut production of crude for the first time in eight years Wednesday, a move that may produce ripple effects from global financial markets to the U.S. economy and all the way to the corner gas station.

"I think it is a good day for the oil markets, it is a good day for ...Read more