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Gail MarksJarvis: Dear millennials, you're ruining the economy. Move out

Business / Business News /

The kids are back home and showing no inclination to move out on their own.

More than five years after the end of the Great Recession, 18- to 34-year-olds seem to be comfortable with a lifestyle that differs dramatically from the past. Even though the job market has improved, millions more are living with their parents now than during the ...Read more

Congresswoman: FBI radio procurement still biased to Motorola

Business / Business News /

WASHINGTON -- A senior House of Representatives Democrat has called on FBI Director James Comey to once again rethink the bureau's problem-plagued attempt to buy a new emergency radio system, contending its recent request for bids is so biased it "can be met by only one vendor" -- industry colossus Motorola Solutions Inc.

"Simply put, the terms...Read more

Uber reaches $50B valuation with new funding, report says

Business / Business News /

SAN FRANCISCO -- Uber has raised another monster round of funding to value the car-booking company at a whopping $50 billion, making it the highest-valued venture-backed company in the world, according to a report Friday.

Uber, the gorilla of ride-booking apps, has raised close to $1 billion from investors, according a report from The Wall ...Read more

Chevron profits plunge 91 percent on weaker crude oil prices

Business / Business News /

SAN RAMON, Calif. -- Chevron profits plunged 91 percent, a feeble financial result that was caused by falling oil prices and charges against earnings, the energy giant reported Friday in a release that came days after wide-ranging job cuts by the company.

Shares of Chevron nose-dived more than 4 percent on Friday following the report, which ...Read more

Low-cost ride-hailing services could reduce drunk driving deaths, research finds

Business / Business News /

The introduction of low-cost on-demand transportation like UberX, Lyft and Sidecar could reduce the rate of drunk driving-related deaths by as much as 3.6 percent, according to new independent research at Temple University's Fox School of Business.

The study is based on data from the California Highway Patrol about alcohol-related vehicular ...Read more

Uber will spend $1 billion to grow presence in India

Business / Business News /

On-demand transportation company Uber will spend $1 billion over the next nine months in India to expand its presence in one of its biggest global markets, the San Francisco company announced Friday.

The company currently operates in 18 cities in India and offers services unique to the market, such as UberGO (on-demand hatchback vehicles) and ...Read more

Google denies 'right to be forgotten' outside Europe

Business / Business News /

Google said late Thursday it would not comply with a French privacy regulator's order to enact the "right to be forgotten" across non-European versions of the site.

In Europe, Google must remove search listings about individuals if they can prove the links reveal out-of-date or inflammatory content about them, under a European Union court ...Read more

Buick drops Regal price to reignite brand's US sales

Business / Business News /

General Motors is dropping the sticker price of its Buick Regal sedan as it tries to reverse sagging sales at the brand and counter a consumer migration to crossovers and sport-utility vehicles.

GM announced the new pricing strategy in a letter to Buick's dealer council this week.

The brand told its dealers that the new prices will appeal to a...Read more

The Week Ahead: The Fed's two goals, two gauges

Business / Business News /

The Federal Reserve may be a complex, far-reaching agency responsible for regulating banks, mortgage rules and the smooth flow of money in the world's largest economy. But its congressionally mandated goals number just two: maximum employment and stable prices. Gauges of both are out in the week ahead.

These two indicators are important as the ...Read more

Auto review: Nissan Rogue worth getting to know but not a mischief-maker

Business / Business News /

The Nissan Rogue has a name that's the antithesis of its look. There's nothing rogue about it. And that's a good thing. Or at least consumers think so.

Since the vehicle's launch in 2007, annual sales have climbed from 73,000 to more than 200,000. That trend has continued, according to the latest numbers, with June sales up 54.3 percent ...Read more

Indian automaker Mahindra finds a home in Detroit

Business / Business News /

DETROIT -- Many companies outsource work to India, but a major Indian company is outsourcing key automotive engineering work to Detroit even though it does not sell vehicles in the U.S.

In an interesting twist, when Mahindra & Mahindra wanted to expand its global vehicle development capabilities, it recognized there was insufficient talent in ...Read more

Under the Hood: Truck's low-pressure problem might be easily resolved

Business / Business News /

Q: I have a 2005 Ford F-150 with a 5.4-liter V-8 engine with slightly more than 97,000 miles. Recently, the truck has experienced intermittent losses of power. The check engine light hasn't come on, but a gauge did indicate low fuel pressure.

I installed a new battery and two fuel filters (the first one was dirty). Also, two tanks of gas with ...Read more

Thwarted by India's restrictions on foreign investment, Wal-Mart goes bigger

Business / Business News /

HYDERABAD, India -- The cavernous store is painstakingly familiar, from the diminutive blue-vested woman greeting shoppers to the pictures of the company's founder outside the administrative offices.

Wal-Mart has kept many things the same as it spreads into India, one of the last major global frontiers for the behemoth Bentonville, Ark., ...Read more

Ford's aluminum F-150 to cost more for repairs, insurer group says

Business / Business News /

Ford's revolutionary aluminum-body F-150 pickup truck does well in most crash tests but is significantly more expensive to repair, according to an analysis by the Insurance Institute for Highway Safety.

That means buyers of the truck, the first to use the lighter-weight metal extensively, probably will pay more in out-of-pocket expenses after a...Read more

Motoring Q&A: Is a highway patrol scanner causing my car's systems to wig out?

Business / Business News /

Q: On several recent occasions driving my 2004 Ford Taurus I've been what I can only describe as "zapped" at a highway patrol scan point. While driving past this point, I heard a loud blaring sound in the car and received a check transmission error. The next time I started the car the message did not appear. Does the scanner cause this error ...Read more

Mark Phelan: Frankfurt show to provide preview of major new models

Business / Business News /

Early word and photos are getting out on some of the top new cars going on sale in Europe this year for the 2016 model year.

Europe's new-car season hits overdrive with the Frankfurt auto show in Germany, where dozens of new vehicles will be unveiled Sept. 15. Smart automakers don't risk having their vehicle lost in the flood of news, so get ...Read more

Battle of the 'cute utes': Honda HR-V is spacious, Mazda CX-3 is sporty

Business / Business News /

The hottest segment in the U.S. auto market is getting hotter with the addition of new subcompact SUV offerings from Honda and Mazda.

New for 2016 are Honda's HR-V and Mazda's CX-3. Both are small utility vehicles with starting prices near $20,000, aimed at what Mazda calls "new buyers, early adopters, empty-nesters and right-sizers," and what ...Read more

For new restaurateurs, risk of failure is high

Business / Business News /

LOS ANGELES -- Ari Taymor's 3-year-old restaurant Alma basks in the kind of acclaim most young chefs can barely begin to fathom.

Within a year of opening, when Taymor and business partner Ashleigh Parsons were just 26 years old, the downtown Los Angeles eatery was crowned the best in the country by Bon Appetit magazine. Each of the eight tables...Read more

Fat Boy a Harley bestseller and Hollywood favorite for 25 years

Business / Business News /

MILWAUKEE -- As the name makes perfectly clear, there's nothing skinny about the Fat Boy. Mention it to anyone familiar with motorcycles, and they'll immediately think of the Harley-Davidson bike that gained fame in the 1991 Arnold Schwarzenegger movie "Terminator 2: Judgment Day."

This summer, the Fat Boy -- one of Harley's bestselling models ...Read more

LinkedIn beats Wall Street's expectations in the second quarter

Business / Business News /

MOUNTAIN VIEW, Calif. -- After lowering its estimates for the second quarter, LinkedIn on Thursday reported earnings and sales from April to June that beat Wall Street's expectations.

"LinkedIn continued to deliver increased member and customer value in the second quarter while delivering solid financial results," said Jeff Weiner, CEO of the ...Read more