Business

/

ArcaMax

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

Business / Business News /

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

DiCaprio meets with Trump to discuss environmentally friendly job creation

Business / Business News /

Add Leonardo DiCaprio to the list of people who've come to Trump Tower to meet with President-elect Donald Trump. The subject: green jobs.

The Oscar winner, who's known for his environmental advocacy as well as his support of Hillary Clinton, connected with the next commander in chief on Wednesday in New York City, the chief executive of the ...Read more

AstraZeneca cuts 700 US jobs, including at Delaware headquarters

Business / Business News /

PHILADELPHIA -- British drugmaker AstraZeneca is eliminating 700 jobs across the United States, including at its North America commercial headquarters in Wilmington, Del.

The company said in a statement that it "will transform its commercial business as part of the company's return to growth strategy."

The job cuts come as AstraZeneca ...Read more

Higher US stocks expected in 2017 by most in Bloomberg poll

Business / Business News /

A majority of American adults -- 54 percent -- are bullish on the U.S. stock market for 2017 and almost four in 10 say they anticipate being in a better financial situation during the upcoming year than they are now.

The latest Bloomberg National Poll shows growing optimism about the U.S. economy following the election of billionaire ...Read more

Real estate Q&A: HOA can't ban solar panels

Business / Business News /

Q: I live in a community with a homeowner's association and want to put some solar panels on my roof to be more energy-efficient. Our board members aren't letting me because they say it would violate the rules about how our community is supposed to look. Can they stop me from doing this?

-- Anonymous

A: No. The law gives your community's rules...Read more

On the House: This younger homebuyer knew he was ready and jumped in

Business / Business News /

For a generation accused of not being interested in becoming homeowners, there are certainly a lot of first-time-buyer millennials in the market these days.

On the one hand, NHP Foundation, a not-for-profit affordable-housing provider, says most millennials have had to delay or rethink traditional ideas of home ownership.

Thirty percent of the...Read more

Black workers file suit against Turner, CNN

Business / Business News /

ATLANTA -- Former and current black employees on Tuesday filed a class-action lawsuit against Atlanta-based CNN, Turner Broadcasting System and New York-based parent company Time Warner Inc. for racial discrimination.

"We have uncovered stories involving abuse of power, nepotism, revenge, retaliation and discrimination," lead attorney Daniel ...Read more