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Veterans plan to be human shields for Dakota pipeline protesters

Business / Business News /

A showdown looms as thousands of veterans from around the country head to North Dakota to be shield Dakota Access Pipeline protesters from police.

The plan by an unarmed citizens' militia, called Veterans Stand for Standing Rock, coincides with North Dakota Gov. Jack Dalrymple's order to evacuate a protesters' camp near the pipeline ...Read more

Ivanka Trump's China-sewn fashion line turns profit at a political cost

Business / Business News /

NEW YORK -- If President-elect Donald Trump needs an object lesson on the difficulty of reviving broad sectors of U.S. manufacturing, he need look only as far as his daughter's closet.

Ivanka Trump's $100 million apparel line is sewn in Asian countries under a licensing agreement with G-III Apparel Group, which has expanded from making coats in...Read more

Pimco to pay nearly $20 million to settle SEC charges that it misled investors

Business / Business News /

LOS ANGELES -- Investment giant Pimco has agreed to pay a nearly $20 million penalty to the U.S. Securities and Exchange Commission to settle charges that it misled investors about the performance of one of its earliest actively managed exchange-traded funds.

The charges stem from the firm's Total Return ETF, a diversified bond portfolio ...Read more

Pimco to pay nearly $20 million to settle SEC charges that it misled investors

Business / Business News /

LOS ANGELES -- Investment giant Pimco has agreed to pay a nearly $20 million penalty to the U.S. Securities and Exchange Commission to settle charges that it misled investors about the performance of one of its earliest actively managed exchange-traded funds.

The charges stem from the firm's Total Return ETF, a diversified bond portfolio ...Read more

Court OKs California raisin growers' suits to force federal payment for seized crops

Business / Business News /

WASHINGTON -- Numerous California raisin growers are seeking federal compensation for crops surrendered years ago as part of an old supply management system.

Three new court decisions could help them.

In two lawsuits that seek to become a large class-action, and a separate suit filed by a single Fresno County farm, growers seek government ...Read more

'Fintech' firms notch win as regulator allows them to seek federal bank charters

Business / Business News /

Upstart financial firms like Square, Lending Club and SoFi could soon have some of the same powers now held by their older, stodgier banking competitors.

The nation's top bank regulator, the Office of the Comptroller of the Currency, said Friday it would start issuing bank charters to online lenders, payment companies and other financial ...Read more

That 'free cruise' robocall could get you up to $500 as part of $76M settlement

Business / Business News /

CHICAGO -- For anyone whose meal, TV show, tryst or other activity was interrupted by a blaring robocall offering a "free" Caribbean cruise, your ship may have just come in.

Caribbean Cruise Line has agreed to pay between $56 million and $76 million to settle a class action suit alleging the company and its co-defendants made millions of ...Read more

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