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Wal-Mart touts slowdown as growth before Trump inauguration

Business / Business News /

NEW YORK -- Wal-Mart's slowdown in opening new stores -- part of an effort to cope with sluggish brick-and-mortar sales -- is now being touted as a growth plan.

On Tuesday, the company announced its intention to open, expand or relocate 59 Wal-Mart and Sam's Club locations this year. While that adds 10,000 retail jobs, the expansion is far ...Read more

U.S. Bancorp CEO Davis to step down in April

Business / Business News /

MINNEAPOLIS -- Richard Davis, who led U.S. Bancorp through the economic downturn and shaped it into the nation's best-performing large bank by financial measures, will step down as chief executive in April, the company said Tuesday.

Davis, 58, during his decade in charge of the Minneapolis-based banking giant also became a force in Twin Cities ...Read more

Exxon Mobil buys Bass family holdings in Permian for $6.6 billion

Business / Business News /

FORT WORTH, Texas -- Exxon Mobil is buying about 275,000 acres in the booming Permian Basin oil fields from the Bass family for $5.6 billion in stock and $1 billion in contingent cash payouts.

The oil company, which owns XTO Energy in Fort Worth, said the purchase covers 3.4 billion barrels of oil equivalent, doubling Exxon Mobil's resources in...Read more

GM, after pressure from Trump, pledges $1B US investment

Business / Business News /

DETROIT -- A week after President-elect Donald Trump criticized its production of cars in Mexico, General Motors on Tuesday pledged to invest $1 billion at several plants in the U.S.

The automaker also said it plans to bring thousands of information technology jobs back to the U.S. from overseas. The moves will create 7,000 new manufacturing ...Read more

UnitedHealth sees potential in 'next phase' of health reform

Business / Business News /

MINNEAPOLIS -- With speculation swirling about how Republicans might replace the federal health law, the chief executive of UnitedHealth Group offered no specifics Tuesday but said he sees the potential for health care changes focused on state-based markets, flexible Medicaid programs and well-structured high-risk pools.

Even so, the nation's ...Read more

Diane Stafford: What makes a 'best' job best for you?

Business / Business News /

A recent report said new dentists are graduating with as much as $400,000 in student loan debt and then face another $500,000 cost to acquire a dental practice.

Who would want to start a career with that kind of financial pressure? What does that say for the future of dentistry?

But I had barely moved from reading those figures when a missive ...Read more

Rex Huppke: Why swearing at work is just fine

Business / Business News /

Let's talk about your damn language at work.

Yeah, that's right, I put a profanity right at the top of this column. And if it weren't for the publishing standards of a newspaper that might be read by children, I would've used a worse one. Maybe an F-bomb, or even a Z-rocket. (The Z-rocket is a profanity I made up that's so bad nobody even knows...Read more

Your Office Coach: Son with Asperger's will finish college but with little work experience

Business / Business News /

Q: My son "Brett," who will graduate from college next year, has a documented diagnosis of high-functioning autism, often referred to as Asperger's syndrome. Fortunately, a full scholarship has made it possible for Brett to focus on his studies without having to get a job. The stress of juggling school and work would have been a lot for him to ...Read more

Liz Reyer: How to talk with work team members facing big changes

Business / Business News /

Q: Due to some organizational changes, I will need to have conversations with team members about ways they fit in the new structure and changes that may affect them as roles change. These may be difficult; how can I best prepare and help them move forward?

--Ellie, 40, director, operations

A: Be authentic, open to the emotional aspects people ...Read more

Balancing Act: Is working late a necessity, or a habit?

Business / Business News /

It's a challenge almost every worker faces: getting out the office door on time. Many get caught in an email trap, sticking around to send one more message and finding themselves still at the office an hour later. Others linger late to appear committed to their jobs, particularly when the culture demands it.

But as the new year kicks in, ...Read more

No unauthorized immigrants? Manufacturing, hospitality workforces would struggle

Business / Business News /

CHICAGO -- Abigail Alvarado has spent most of her 5 1/2 years in the U.S. on assembly lines preparing the frozen pizzas and packaged sandwiches shoppers find in their grocery stores.

Until recently, the 26-year-old hadn't feared being sent back to her native Veracruz, Mexico.

But the incoming Trump administration has her worried a crackdown is...Read more

For millennials, financial security may be out of reach, research suggests

Business / Business News /

Millennials are on shaky ground, struggling to gain the same financial security afforded to their parents, new data analysis suggests.

When baby boomers were young adults, their net worth was double that of today's young people, who earn $10,000 less than their counterparts did in 1989, according to findings from advocacy group Young ...Read more

Feds allege Minnesota bank discriminated in lending practices

Business / Business News /

MINNEAPOLIS -- The U.S. Justice Department has accused Minnesota-based KleinBank of "redlining," the practice of unlawfully structuring its mortgage lending business to avoid serving minority neighborhoods around the Twin Cities.

In a federal lawsuit filed late Friday, lawyers from the department's civil rights division said Chaska-based ...Read more

'Hidden Figures' leads 'La La Land' and 'Patriot's Day' at holiday box office

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LOS ANGELES -- In what's shaping up to be a highly competitive holiday weekend at the box office, 20th Century Fox and Chernin Entertainment's "Hidden Figures" has the No. 1 spot, just three days in. If it holds, it will be the reigning film for the second week in a row.

The film, based on a true story about black women at NASA who were ...Read more

SpaceX launches 10 satellites aboard Falcon 9 rocket

Business / Business News /

A SpaceX Falcon 9 rocket carrying 10 satellites was launched into orbit Saturday morning and landed its first-stage booster on a drone ship in its first launch since a September explosion.

The first-stage booster landed on a floating platform called "Just Read the Instructions" in the Pacific Ocean about 8 minutes after liftoff.

Analysts had ...Read more

Susan Tompor: Fast-cash options offset expected delay of tax refunds

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It's going to be hard to turn on the TV, drive past a tax preparation storefront or walk into a Wal-Mart early into this tax season and not be deluged with pitches for fast-cash, refund-related loans at zero percent.

H&R Block, Jackson Hewitt and others are fighting for market share and trying to lock in customers who might otherwise turn to an...Read more

Gail MarksJarvis: How parents can survive the $233,610 cost of raising a child

Business / Business News /

A baby is a bundle of joy, but get ready if you are starting a family: Raising that little person also will cost you a bundle.

If you have a baby, expect to spend $233,610 over the next 18 years as you pay for everything from diapers to the extra room in your house or apartment, according to a report released this month by the U.S. Department ...Read more

Boeing wins 100-plane order from India's SpiceJet

Business / Business News /

SEATTLE -- Boeing has won a new order for 100 737 MAX 8 planes from Indian airline SpiceJet, the companies announced Friday in New Delhi.

A statement said the order was "booked at the end of 2016," so presumably it was included in Boeing's count of 534 MAX sales for last year.

The order, with a list price of $11 billion, is worth an estimated ...Read more

Bank of America CEO: Optimism about Trump administration is 'palpable'

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CHARLOTTE, N.C. -- Bank of America CEO Brian Moynihan on Friday said there is "palpable" optimism at the Charlotte-based company ahead of the incoming administration of President-elect Donald Trump.

"The optimism for positive change here at Bank of America and among our customers is palpable," Moynihan told analysts during a conference call to ...Read more

Lockheed CEO tells Trump company will add 1,800 F-35 jobs in Fort Worth

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FORT WORTH, Texas -- Lockheed Martin CEO Marillyn Hewson emerged from a meeting with President-elect Donald Trump Friday pledging to bring down the cost of the F-35 Lightning II and pledging to hire more than 1,800 additional workers at the Fort Worth plant.

Trump has been in a dogfight with Lockheed Martin over the F-35 program, questioning ...Read more