'Star Trek' leads box office, and horror tale 'Lights Out' beats expectations

Business / Business News /

LOS ANGELES -- With Capt. Kirk and Spock leading the USS Enterprise, Paramount's "Star Trek Beyond" took over the box office over the weekend, unseating Universal's "The Secret Life of Pets."

"Star Trek Beyond," the third installment since director J.J. Abrams revived the venerable franchise in 2009, pulled in an estimated $59.6 million in the ...Read more

With globalization threatened, Group of 20 focuses on defense

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CHENGDU, China –– Finance chiefs from the world's biggest economies signaled escalating concern about a wave of anti-globalization sentiment that threatens core principles long embraced by the group.

Meeting in China one month after the vote in Britain to leave the European Union, finance ministers and central bankers from the Group of 20 ...Read more

Gail MarksJarvis: 'Gloom, Boom & Doom' economist pushes for gold

Business / Business News /

Marc Faber is like the horror movie star of investing.

He sees the threat of money oozing out of 401(k)s, IRAs, savings accounts and pensions -- a result of villains bludgeoning unsuspecting investors. His villains to fear are central bankers like Ben Bernanke, Janet Yellen and Alan Greenspan -- mild-mannered, brainy people who he suggests have...Read more

In Monterey, Calif., a battle for historic Laguna Seca raceway

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A bitter fight to take control of one of the world's most iconic racetracks will come to a head next week when three competing teams of auto sports enthusiasts make their cases to a ruling panel.

At stake is the management of the Laguna Seca racing venue, host for almost 60 years to some of the power sports industry's most important automobile ...Read more

Pandora may be singing 'Shop Around'

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OAKLAND, Calif. -- Swing by the headquarters of internet radio company Pandora Media these days and you might hear the executives singing the old Smokey Robinson and the Miracles classic "Shop Around".

Because what's being shopped around might be Pandora itself.

Pandora reportedly spoke with Apple and Amazon about a possible acquisition ...Read more

Verizon reportedly close to acquiring Yahoo for around $5 billion

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Verizon is reportedly nearing a deal to purchase Yahoo for close to $5 billion, bringing to an end a months-long bidding process for a now-ailing company that was once an internet trailblazer.

The sale is still being deliberated, but could be announced early next week, according to Bloomberg.

Verizon has reportedly emerged as the leading ...Read more

Sweet dreams? Oreo-maker Mondelez could make another bid to buy Hershey

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CHICAGO -- Mondelez International, maker of Oreo and Cadbury chocolate, likely is mounting another offer to take over chocolate giant Hershey after its $26 billion offer was rebuffed late last month, some analysts say.

Whether the global snack and confectionery company will succeed in its complicated Hershey quest or become acquired by another ...Read more

American Airlines posts $950 million second-quarter profit

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FORT WORTH, Texas -- American Airlines said its second-quarter net income dropped 44 percent to $950 million as the carrier put aside half a billion dollars to pay income taxes.

The Fort Worth-based carrier said revenues also declined 4.3 percent to $10.36 billion for the quarter, citing growing competition on domestic and international routes....Read more

Southwest Airlines cancels another 300 flights following computer problems

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FORT WORTH, Texas -- Southwest Airlines said it canceled an additional 300 flights on Friday as it attempts to get its operations back on track following a computer outage on Wednesday.

The Dallas-based carrier said its technology systems have been fully restored but it has displaced flight crews that led to the additional cancellations. The ...Read more

Dollar Shave Club's irreverence pays off

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LOS ANGELES -- Gillette, the largest U.S. razor brand, has advertised its blades as cutting-edge technology with images of fighter jets and names such as Mach and Fusion.

Dollar Shave Club, an industry upstart, has made ads featuring dancing bears and its chief executive describing his bodily functions.

This week, Dollar Shave Club proved the ...Read more

The Week Ahead: It's still the economy, but it's different this time

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It was a Democratic tactician who once offered this now-timeless piece of political strategy: "It's the economy, stupid." Twenty-four years later, and with a different Clinton poised to receive the Democratic Party's presidential nomination in the week ahead, the economy remains the most important issue to American voters.

Yes, terrorism, ...Read more

Joy Global to be acquired by Japan-based firm for nearly $2.9 billion

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MILWAUKEE -- Milwaukee-based Joy Global Inc. is being acquired by Komatsu Ltd., the second-biggest mining and construction equipment maker in the world, for $2.89 billion.

Komatsu will pay $28.30 a share in cash, it said Thursday in a statement, an offer 20 percent higher than Joy's closing price the day before. It will be Komatsu's biggest-...Read more

Boeing will take $2 billion hit to earnings for 3 jet programs

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SEATTLE -- Boeing said Thursday it will take more than $2 billion in after-tax write-offs on three jet programs.

The biggest is a non-cash after-tax charge of $847 million ($1.33 per share) it attributed to two of the first 787 test-flight aircraft it has decided not to refurbish and sell.

Nearly is large is an $814 million after-tax charge ($...Read more

Why GM's record earnings will be tough to repeat

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DETROIT -- Now that General Motors' $2.9 billion second-quarter earnings have blown away Wall Street expectations, coming up with an encore won't be easy.

Britain's departure from the European Union will slow an impressive recovery by about $400 million in the second half of 2016, the company said Thursday.

Yes, CEO Mary Barra has acted boldly...Read more

Roger Ailes resigns from Fox News; Rupert Murdoch will run network on interim basis

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NEW YORK -- In the end, Fox News is Rupert Murdoch's baby, and now that it's in trouble, he will take care of it.

In a corporate move that no one saw coming, Murdoch, the executive chairman of 21st Century Fox, was named acting chairman of Fox News after the resignation of Roger Ailes, amid charges of sexual harassing female employees at the ...Read more

Starbucks' sales growth slows, though earnings beat forecast

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SEATTLE -- Starbucks' sales growth, which had been on a tear last year but started showing signs of slowing last quarter, slid even more last quarter.

Sales at stores open at least a year grew 4 percent globally in the quarter ended June 26. That compares with 7 percent growth in the same quarter a year ago, and 6 percent in the previous ...Read more

Tesla's stock falls after Elon Musk reveals his 'master plan'

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After more than a week of teasing about its existence, Elon Musk revealed the second part of his "master product plan" for Tesla on Wednesday evening. Or, as he calls it, "part deux."

In a blog post published on the automaker's website, Musk introduced a multiyear, four-pronged strategy that includes new kinds of Tesla vehicles, expanded solar ...Read more

Obama administration moves to block health insurance mega-mergers

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WASHINGTON -- The Obama administration went to court Thursday to block two major health insurance mergers, siding with consumer advocates and medical groups worried that the consolidation of large national health plans could lead to higher premiums.

The move by the Justice Department, which has been expected for weeks, will prevent Anthem Inc.'...Read more

Motoring Q&A: Save some money and fix scratch yourself

Business / Business News /

Q: I recently put an 18-inch scratch on the rear passenger side door of my 2015 Subaru Outback. It is a fairly narrow scratch, but down to the metal in a few spots. Estimates from body shops ranged from $1,300 to $1,600 and would include removing both doors and the side quarter panel and repainting the whole passenger side of the car. They said ...Read more

Auto review: New Acura NSX every bit as impressive as the first

Business / Business News /

What separates Acura's NSX sports car from its rivals is heritage.

Acura built the first NSX to challenge the best speedsters of Europe even though the Honda luxury brand lacked a racing pedigree.

For 2017, the all-new NSX possesses the stoic classicism and remarkable performance of its forbearer but just happens to be an all-wheel drive, gas-...Read more