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No. 1 'Transformers' hits new low with $69 million domestic debut, but is saved by global box office

Business / Business News /

LOS ANGELES -- "Transformers: The Last Knight," the fifth installment in the blockbuster franchise from Michael Bay, may have topped the weekend, but all that robot-smashing has gotten a bit rusty at the box office.

The Paramount film, which opened Wednesday, took in $45 million in the U.S. and Canada over the weekend, placing it in the No. 1 ...Read more

SpaceX launches Falcon 9 rocket carrying 10 communications satellites

Business / Business News /

LOS ANGELES -- A SpaceX Falcon 9 rocket lifted off successfully Sunday afternoon from Vandenberg Air Force Base's Western Range in California, carrying a payload of 10 commercial communications satellites in an important test of the company's ability to increase launch rates.

The first stage of the Falcon 9 landed without incident on Space X's ...Read more

Trump to call for US 'dominance' in global energy production

Business / Business News /

WASHINGTON –– President Donald Trump will promote surging U.S. exports of oil and natural gas during a week of events to highlight the country's growing energy dominance.

Trump also plans to emphasize that after decades of relying on foreign energy supplies, the U.S. is on the brink of becoming a net exporter of oil, gas, coal and other ...Read more

Gail MarksJarvis: Paying off student loans? Avoid these four deadly college debt sins

Business / Business News /

If you've just finished college and are spooked by your student loans, you probably don't have to be.

Assuming you haven't already committed a big student loan borrowing mistake, like piling up loans without finishing college or borrowing extensively from private lenders rather than the federal government, there's no rush to pay off your loans....Read more

Wilshire Grand Center, tallest skyscraper in the West, debuts in downtown LA

Business / Business News /

LOS ANGELES -- At 1,100 feet and the tallest building west of the Mississippi, L.A.'s newest skyscraper is hard to miss.

With a sweeping sail of a roofline, it stands out by day among the flat tops of its tall rivals and is illuminated at night with an enveloping expanse of ever-changing colored lights.

But for its owner, the best view of the ...Read more

Ivanka Trump must answer questions in 'Wild Thing' shoe lawsuit

Business / Business News /

NEW YORK -- Ivanka Trump must answer questions in a lawsuit over whether her company ripped off a rival's shoe design, as a judge rejected her claim that she's too busy a "high-ranking government official" in the White House to sit for a deposition.

U.S. District Judge Katherine Forrest in Manhattan on Friday said Trump must spend two hours ...Read more

Genetically modified corn lands $217.7 million verdict for Kansas growers

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KANSAS CITY, Kan. -- A federal jury in Kansas City, Kan., awarded $217.7 million in damages on Friday to 7,300 corn farmers in a lawsuit over Syngenta AG's genetically modified seed.

Jurors deliberated for half a day, asking at one point for a calculator, following three weeks of trial in the U.S. District Court here. They rejected the corn ...Read more

Travis Kalanick is no longer Uber's CEO, but drivers still want him on the hook in lawsuit

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SAN FRANCISCO -- Recent scandals have put Uber on such shaky ground that a lawyer representing aggrieved drivers has filed a lawsuit against Travis Kalanick and Garrett Camp -- the ride-hailing firm's co-founders -- in case the company doesn't survive long enough to defend itself.

Describing the lawsuit filed Thursday in the Superior Court for ...Read more

Sears announces 20 more closings

Business / Business News /

CHICAGO -- Sears Holdings Corp. is closing 20 more stores.

Those closings -- including 18 Sears and two Kmart stores -- follow 150 stores Sears shuttered in the first quarter of this year and another 66 expected to close by early September.

The latest 20 are among the 235 locations Sears, headquartered outside Chicago, sold to its real estate ...Read more

Mark Phelan first drive: 2018 Toyota Camry boasts fuel economy, safety features, style

Business / Business News /

PORTLAND, Ore. -- The all-new 2018 Toyota Camry will hit the road with class-leading fuel economy, a long list of safety features and prices starting at $23,495 when it goes on sale in July.

The '18 Camry proved quiet and comfortable in a day driving through the countryside.

Toyota achieved its fuel economy without resorting to a couple of new...Read more

The Week Ahead: A less stressful time for stress tests

Business / Business News /

For seven years, America's biggest banks have undergone annual financial stress tests, with at least one bank failing to make the grade each cycle. That streak likely will end in the week ahead.

Financial reforms put in place after the near-collapse of the banking system during the Great Recession require the Federal Reserve to assess the ...Read more

Under the Hood: Reviewing some battery basics

Business / Business News /

Q: I took my 3-year-old Subaru Forester to the dealer for routine service. When I returned at the designated time, I was informed they had to replace the battery because it was dead. There were no prior warnings or indications of a battery problem. Is it normal for a battery to suddenly die like this?

--William

A: This is unusual! Failing ...Read more

Qatar Airways wants to buy 10 percent stake in American Airlines

Business / Business News /

FORT WORTH, Texas -- Qatar Airways wants to purchase a 10 percent stake in American Airlines, a move called "puzzling" by the Fort Worth-based airline's top executive and criticized by union leaders.

In a memo to employees, CEO Doug Parker noted that American has repeatedly criticized the state-owned Persian Gulf airlines for violating trade ...Read more

Uber employees petition for former CEO Travis Kalanick's return

Business / Business News /

SAN FRANCISCO -- The majority of Uber's investors may have wanted its co-founder and chief executive Travis Kalanick out, but some employees of the ride-hailing company are already calling for his return.

In a petition that began circulating within Uber on Wednesday, employees called for Uber's board of directors to reinstate Kalanick, who ...Read more

Conservative commentator Hugh Hewitt gets a show in MSNBC's weekend expansion

Business / Business News /

MSNBC is expanding its live news programming lineup, including a new Saturday show hosted by conservative commentator Hugh Hewitt.

Hewitt, best known as a host for the right-leaning Salem Radio Network, will have a half-hour Saturday morning program airing at 8:30 a.m. Eastern. The move is likely to get some gimlet-eyed looks from MSNBC viewers...Read more

Boeing outsells Airbus at Paris Air Show

Business / Business News /

On the final business day of the Paris Air Show, Boeing emerged the clear winner over rival Airbus thanks largely to sales of the 737 MAX.

Randy Tinseth, Boeing vice president for marketing, said in a phone interview on Thursday from Paris that although the 737 MAX 10, successfully launched in Paris, was "clearly the star of the show," ...Read more

Tesla explores setting up a factory in China

Business / Business News /

Tesla Inc. is working with the city of Shanghai to "explore the possibility" of opening a factory in the area, the maker of electric cars confirmed Thursday. Sales in China generate a hefty chunk of Tesla's revenue, and moving some manufacturing near those buyers would slash some costs.

"While we expect most of our production to remain in the U...Read more

Yellen's future at Fed resisted by Trump aides wanting new blood

Business / Business News /

WASHINGTON -- Federal Reserve Chair Janet Yellen's candidacy for another term is encountering resistance from some Trump administration advisers who want a new leader at the U.S. central bank, according to two administration officials, even as the Treasury secretary indicated she may still be in the running.

While White House officials are ...Read more

Michael Hiltzik: With Uber CEO departure, we'll now see the real value of the firm

Business / Business News /

Now that its bad-boy co-founder Travis Kalanick has resigned as Uber's CEO, the question will be asked: Is Kalanick's departure bad for Uber, or good for Uber?

The answer is yes.

It's good for Uber, because the company has a better chance of shedding its reputation as a howlingly bad place to work unless you're a young white male; and its ...Read more

The Mortgage Professor: Down payment assistance and defaults

Business / Business News /

Do down payment assistance programs result in more defaults?

The answer to that question depends on whether or not the assistance weakens the role of down payments in minimizing mortgage defaults and losses from defaults. Such losses are borne by whoever bears the risk of default: the lender, the investor who purchases the loan from the lender,...Read more

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