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Facebook, Twitter, Google seek to assuage lawmakers about 2020

Business / Business News /

WASHINGTON -- Executives from Facebook Inc., Twitter Inc. and Alphabet Inc.'s Google faced congressional lawmakers Wednesday amid concerns that the companies haven't done enough to guard against foreign influence campaigns in the 2020 elections.

They're testifying alongside government officials before the national security subcommittee of the ...Read more

Could Tesla merge with SpaceX? A Morgan Stanley analyst raises the possibility

Business / Business News /

Morgan Stanley stock analyst Adam Jonas told clients Wednesday that if Tesla's troubles continue, it's unlikely to be acquired by a tech company, an auto company, or someone from China. But it could end up merging with SpaceX, another Elon Musk company.

A recording of the 55-minute conference call with clients was leaked online. The meeting was...Read more

Target's summer kickoff with Vineyard Vines was also a hit

Business / Business News /

Target's latest embrace of an upscale fashion brand turned into another frenzy.

The retailer and Vineyard Vines, the maker of preppy fashion that got its start on Martha's Vineyard, last weekend offered a collection of about 300 apparel and home goods.

As usual with a fashion partner, Target got Vineyard Vines to produce and sell goods at ...Read more

SpaceX challenges Air Force awards on security satellite launches

Business / Business News /

Elon Musk-led SpaceX is formally challenging the U.S. Air Force's decision last year to award a round of rocket development contracts to competitors, arguing that the Hawthorne company's entire proposal was incorrectly deemed the one with "highest risk."

In October, the Air Force awarded a combined total of about $2 billion to United Launch ...Read more

Michael Hiltzik: Report: Tesla's new Autopilot feature is dumber than human drivers

Business / Business News /

The Holy Grail of self-driving technology, so its promoters tell us, is to replace the error-prone idiot behind the wheel with a flawlessly discerning and safer system of sensors and software.

By that standard, a new version of Tesla's Navigate on Autopilot self-driving system is a big step back. That's the opinion of Consumer Reports, which ...Read more

SeaWorld San Diego turnaround: Attendance growth in 2018 leads all other U.S. theme parks

Business / Business News /

SAN DIEGO -- A year after posting the steepest attendance drop among North America's largest theme parks, SeaWorld San Diego led all others in 2018 with a 20% surge in visitation.

Both the San Diego and Orlando marine parks, which had experienced double-digit declines in 2017, saw double-digit increases in attendance last year, easily ...Read more

New Urban Outfitters subscription service will let you rent latest styles for $88 a month

Business / Business News /

PHILADELPHIA -- Urban Outfitters is launching a clothing rental service this summer targeting price-conscious and fashion forward customers who want an ever-changing wardrobe.

The new service, called, Nuuly, will be an $88 subscription for one box of six items. At launch, shoppers will be able to select from more than 1,000 styles from a ...Read more

Vanguard issues its 10-year forecast for stock, bond market returns

Business / Business News /

Vanguard on Tuesday released its 10-year projected returns for stock and bond markets, an eagerly awaited piece of research out of the world's largest mutual fund firm with over $5 trillion in assets.

Vanguard published a range of annual market returns the firm forecast for the next 10 years:

U.S. equity returns: 4% – 6%

U.S. aggregate bond...Read more

Federal judge rules Qualcomm violated antitrust laws

Business / Business News /

A federal Judge has ruled that Qualcomm violated antitrust laws by using its top position in smartphone chips to extract excessive patent license fees for its cellular inventions, striking a major blow to the San Diego company's business model.

After four months of deliberations, U.S. District Judge Lucy Koh found against Qualcomm in an ...Read more

Target smashes profit expectations as e-commerce accelerates

Business / Business News /

MINNEAPOLIS -- Target Corp. said its profit jumped 9% in the latest quarter, smashing expectations as its investments to make digital shopping easier and more convenient paid off.

Shares jumped 7% in early trading this morning.

Sales at comparable stores and through digital orders from its website and mobile applications grew 4.8%.

Digital ...Read more

Lowe's says a lot of work remains in turnaround, but it's ahead of rival in one area

Business / Business News /

It has been almost exactly one year since Lowe's announced it had hired Marvin Ellison to be its new CEO. Ellison, who said he would step down as CEO of J.C. Penney the same day Lowe's announced his hiring, soon embarked on an ambitious turnaround strategy of Lowe's, which has long trailed its larger rival, Home Depot.

Lowe's has made some ...Read more

Key takeaways from Target's surprisingly strong spring

Business / Business News /

MINNEAPOLIS -- Target Corp. reported strong sales and profits for the spring quarter as more shoppers embraced e-commerce. Here are some key takeaways:

--Digital growth skyrockets: Sales from Target.com and mobile apps grew 42% during the first quarter compared to last year.

--Shoppers say "I want it today!": Half of digital sales came from ...Read more

New Coke is making a comeback? Classic

Business / Business News /

Coca-Cola apparently believes the second time is a charm.

After waiting nearly 40 years since first introducing New Coke, only to have it bomb, the company is bringing the ill-fated product back to the world that didn't want it in the first place. As part of a promo it's doing with the producers of "Stranger Things," now entering its third ...Read more

Bigger cuts expected: 23,000 more Ford layoffs needed, analysts say

Business / Business News /

DETROIT -- The math doesn't seem to add up.

Analyst Adam Jonas of Morgan Stanley is among those who say Ford Motor Co. cannot reach its stated profit goals for "Smart Redesign" by laying off just 7,000 salaried workers total worldwide by August.

The company must cut "a further" 23,000 salaried jobs in the near term to fulfill its goals, Jonas ...Read more

Airlines are canceling mistake fares faster but some errors still get through

Business / Business News /

Travelers love those insanely cheap fares that airlines sometimes post by mistake, such as when Cathay Pacific Airways in January sold $16,000 business-class tickets from Da Nang in Vietnam to New York for as little as $675 round trip.

But carriers have found a way to more quickly cancel those cheap mistake fares.

The Airline Tariff Publishing...Read more

'There's a huge shortage of lab space in Chicago': Sterling Bay to back life sciences startups, with eye on Lincoln Yards

Business / Business News /

CHICAGO -- Chicago real estate developer Sterling Bay aims to make Lincoln Park on the city's North Side a center for life sciences research, an industry that the firm hopes will fill a lot of space in its $6 billion Lincoln Yards megadevelopment.

Sterling Bay last week announced the creation of a new investment arm, called Prysm Life Sciences,...Read more

An abandoned mine near Joshua Tree could host a massive hydropower project

Business / Business News /

An abandoned iron mine on the doorstep of Joshua Tree National Park could be repurposed as a massive hydroelectric power plant under a bill with bipartisan support in the California Legislature.

Senate Bill 772, which was approved by a panel of lawmakers last week with no dissenting votes, would require California to build energy projects that ...Read more

Tech Q&A: How to become a bit less LinkedIn

Business / Business News /

Q: I've used LinkedIn, the social network for business people, for years. But I'm having trouble removing myself from LinkedIn Groups I was once associated with. The instructions I've found online haven't worked. What can I do?

--Tom Butler, Reading, Pa.

A: You can remove your affiliation with a LinkedIn Group (typically a collection of people...Read more

Huawei fight is a threat to rural internet

Business / Business News /

In swaths of rural America, along roads where there are just a few farms or homes within a mile-long stretch, customers are so few that the likes of AT&T and T-Mobile don't bother to build cell towers for coverage.

The only operators providing wireless access are small carriers, many of which can't afford equipment from suppliers such as ...Read more

FDA hidden database included 37,000 reports of problems with Medtronic defibrillator wires

Business / Business News /

When medical device maker Medtronic pulled its popular but fracture-prone Sprint Fidelis defibrillator leads from the market a decade ago, a cascade of complaints involving tens of thousands of the skinny wire devices soon followed.

The leads, which allow an implanted defibrillator to shock the heart and prevent sudden cardiac death, were the ...Read more

 

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