Business

/

ArcaMax

John J. Kim/Chicago Tribune/TNS

As offices push back reopening, coffee shops, shoe repair businesses wait for their 9-to-5 regulars to return

Business / Business News /

CHICAGO — Jen Tee has been going back to her office in the Chicago Loop for a while, but one piece of her pre-pandemic workday ritual was missing until just a couple of weeks ago: a morning stop at Intelligentsia Coffee.

“I’d been asking them, when are you going to reopen?” said Tee, 41, who lives in the Wicker Park neighbohood, ...Read more

Arianne Cohen: Ambitious? Learn what companies actually desire in a CEO

Business / Business News /

Have you ever seen a “Wanted — New CEO: $750,000/yr” job ad? No. They’re not a thing. Corporate searches for chief executives are discreetly handled by headhunting firms in a hush-hush process that has created a longstanding headache for scholars. Until recently, it was nearly impossible for them to know what skills are in demand for ...Read more

Eric Seals/Detroit Free Press/TNS

Ford goes all-in on electric vehicles with massive multibillion-dollar investment

Business / Business News /

Ford Motor Co. on Monday night announced a historic investment in its future that will pump more than $11 billion into manufacturing a strong, dependable supply of essential parts for electric vehicles, creating nearly 11,000 jobs along the way.

This commitment — the single biggest investment in the history of the 118-year-old automaker — ...Read more

David Becker/Getty Images North America/TNS

Activision agrees to pay harassment victims in face of lawsuit

Business / Business News /

Activision Blizzard Inc., the videogame giant, agreed to create an $18 million fund for alleged victims of discrimination or harassment after it was sued by the U.S. Equal Employment Opportunity Commission over its workplace practices.

The company also announced in a statement Monday the creation of an initiative to develop software tools and ...Read more

Claire Hannah Collins/Los Angeles Times/TNS

California governor signs bill expanding protections for garment workers

Business / Business News /

Garment workers in California will be paid an hourly rate and receive other new protections under a law Gov. Gavin Newsom signed Monday afternoon.

SB 62, which faced heavy opposition from fashion brands and trade groups, aims to overhaul a pay model for garment workers that has led to subminimum wages in the industry. The law will expand ...Read more

Dreamstime/Dreamstime/TNS

Venezuelan community targeted in alleged $66 million investment scam

Business / Business News /

MIAMI — Owners of a payday loan company targeted members of South Florida’s Venezuelan community in a fraudulent investment scheme that raised more than $66 million, according to the U.S. Securities and Exchange Commission.

The SEC complaint, filed Monday in U.S. District Court in Miami, said Sky Group USA and owner Efrain Betancourt, 32, ...Read more

Dreamstime/Dreamstime/TNS

Creative Artists Agency to buy ICM Partners in landmark deal

Business / Business News /

LOS ANGELES — Century City-based Creative Artists Agency said Monday that it is acquiring ICM Partners for an undisclosed price, in a deal that could transform Hollywood’s talent agency industry.

The transaction, which is subject to regulatory approval, would reduce the number of top agencies to three dominant players: CAA, WME and United ...Read more

Ford Motor Company/TNS/TNS

Alexandra Ford English tapped as global merchandising director at Ford

Business / Business News /

DETROIT — Alexandra Ford English, the great-great granddaughter of the founder of Ford Motor Co., has been tapped to lead an effort to expand the family brand once harnessed by Versace to sell $1,135 hoodies, the automaker announced Monday.

The newly created role of global brand merchandising director puts English, 33, in a position to use ...Read more

DANIEL SLIM/AFP/Getty Images North America/TNS

United Air CEO says 98.5% of US employees have been vaccinated

Business / Business News /

United Airlines Holdings Inc. Chief Executive Officer Scott Kirby said Monday that 98.5% of its U.S.-based employees have been vaccinated against COVID-19.

The carrier expects to see vaccine totals “north of 99%” when it tallies final figures for how many employees have complied with its mandate to be vaccinated or face termination.

United...Read more

Dreamstime/Dreamstime/TNS

Creative Artists Agency to buy ICM Partners in landmark deal

Business / Business News /

Century City-based Creative Artists Agency said Monday that it is acquiring ICM Partners for an undisclosed price, in a deal could transform Hollywood's talent agency industry.

The transaction, which is subject to regulatory approval, would reduce the number of top agencies to three dominant players: CAA, WME and United Talent Agency. ICM is ...Read more

Kimberly P. Mitchell/Detroit Free Press/TNS

Ford CEO Farley calls for making EVs more affordable, bringing mining back to US

Business / Business News /

Making electrical vehicles affordable should be among the top priorities for automakers so that the average vehicle-buyer can purchase one, said Jim Farley, Ford Motor Co.'s president & CEO.

"I'm deeply worried about the affordability," said Farley Saturday during a discussion as part of the Detroit Homecoming VIII events, during a live-...Read more

Jose Carlos Fajardo/East Bay Times/TNS

This cruise ship had an infamous coronavirus outbreak. Now, it's set to sail again

Business / Business News /

The cruise ship that stranded thousands of passengers for days off the California coast in one of the nation's first cruise ship coronavirus outbreaks returns to sea Saturday for the first time in 18 months.

The Grand Princess will depart from the Port of Los Angeles for a five-day cruise to Cabo San Lucas, Mexico, part of a phased effort by ...Read more

Dreamstime/TNS

Carla Fried: Still working at 65? Avoid this Medicare mistake

Business / Business News /

When the Medicare health insurance program launched in 1966, benefits kicked in at the then-common retirement age of 65.

Flash forward, and we now live in an economy where working past age 65 is more common. For some, it’s to buy more time to shore up retirement savings, for others it’s a desire to keep at something they enjoy doing.

If ...Read more

Shengying Lin/Dreamstime/TNS

Costco brings back purchase limits on toilet paper and cleaning products amid supply-chain snags

Business / Business News /

Costco is once again setting limits on the purchase of popular brands of toilet paper and cleaning products, as the pandemic continues to put strains on shipping products from suppliers.

Costco's Chief Financial Officer Richard Galanti said the company was putting temporary purchase limits on toilet paper, paper towels, the company's Kirkland ...Read more

In the midst of unprecedented crisis, Boeing sales chief embraces optimism

Business / Business News /

Though Boeing has been mired in the worst of times, its people stunned by two fatal crashes and then a global pandemic that has slashed air travel like never before, jet sales chief Ihssane Mounir last week professed an unshakable confidence that the best of times are within sight again.

"This pandemic that we're living through right now, it's ...Read more

James Lipman/Ford/TNS

Ford issues global recall on 2021 Mustang Mach-E for windshields that may pop out

Business / Business News /

The 2021 all-electric Ford Mustang Mach-E SUV is being recalled because it has improperly attached windshields and panoramic roof glass that may detach, creating risk of crash or injury, according to the National Highway Traffic Safety Administration, or NHTSA.

All vehicles built between Feb. 24, 2020, and July 18, 2021, may have been ...Read more

Courtesy NOAA Fisheries/TNS/TNS

Valuable crab populations are in a 'very scary' decline in warming Bering Sea

Business / Business News /

Federal biologist Erin Fedewa boarded a research vessel in June in Dutch Harbor, Alaska, and journeyed to a swath of the Bering Sea that typically yields an abundance of young snow crab in annual surveys.

Not this summer. At this spot, and elsewhere, the sampling nets came up with stunningly few — a more than 99% drop in immature females ...Read more

Carolyn Cole/Los Angeles Times/TNS

Environmentalists once agreed with Biden on car emission standards. Now they don't

Business / Business News /

For once, major American automakers and the president are aligned on how much they should be required to limit greenhouse gas emissions from their vehicles.

But as climate change worsens to the point of international scientists calling it a "code red for humanity," some of the country's leading environmental organizations are pushing the ...Read more

Junfu Han/Detroit Free Press/TNS

Susan Tompor: Gig workers to get hit with big tax surprise next year

Business / Business News /

Detroit bass player Grover "GT" Tigue knows too well about the wildly varying rhythms of the gig economy.

Tigue has been a musician 24/7 for the past 21 years — working on solo projects and playing over the years with groups including the No Boundaries Quartet, a hip hop group called Mama SOL & Tha N.U.T.S and an R&B funk band called ...Read more

Carolyn Cole/Los Angeles Times/TNS

Millions in fire-ravaged California risk losing home insurance

Business / Business News /

A California moratorium guaranteeing insurance in wildfire-threatened areas will lapse Saturday, putting 347,000 homes in Pasadena and other Los Angeles foothills communities at the mercy of the market.

As many as 2.4 million homes are at risk of losing protection in 2021 as year-long grace periods expire – though new disasters may extend ...Read more