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Former Under Armour executive sues company and his manager for racial discrimination

Business / Business News /

BALTIMORE -- A former Under Armour executive has filed a racial discrimination and defamation lawsuit against the Baltimore-based athletic apparel company and his manager, alleging his boss disparaged him and treated him unfairly compared to his white counterparts.

Leon Duncan said in the lawsuit, filed in Baltimore Circuit Court, that Under ...Read more

Kashkari suggests Fed use a tool from 2008 recession to fight a slowdown now

Business / Business News /

MINNEAPOLIS -- As President Donald Trump stokes debate about whether the Federal Reserve is doing enough to keep the economy strong, the president of the Federal Reserve Bank of Minneapolis put forth one more idea this week to show the Fed is trying.

Neel Kashkari, who has been a proponent of keeping interest rates low since becoming a Fed ...Read more

Facebook bans pro-Trump news outlet from buying ads

Business / Business News /

SAN JOSE, Calif. -- Facebook has banned the Epoch Times, a news outlet that was reportedly hiding its spending on pro-Trump ads, from buying ads on its platform.

According to an NBC News investigation published this week, the New York-based outlet spent $1.5 million on thousands of pro-Trump ads in the past six months, more than anyone besides ...Read more

Michael Hiltzik: Trump is proposing to reduce the employer health insurance system to utter chaos

Business / Business News /

It has never been easy to keep track of the Trump administration's position on the ridiculous lawsuit brought by Texas and 17 other red states to invalidate the Affordable Care Act.

But the Department of Justice's most recent position would do even more damage to the nation's health coverage market -- it would create chaos for employer-...Read more

Trump orders biofuel boost in bid to temper farm state anger

Business / Business News /

WASHINGTON -- President Donald Trump, seeking to tamp down political fallout in U.S. farm states essential to his re-election, has ordered federal agencies to shift course on relieving some oil refineries of requirements to use biofuel such as corn-based ethanol.

Trump and top cabinet leaders decided late Thursday they wouldn't make changes to ...Read more

Sinclair completes $9.6-billion purchase that includes Fox Sports West, Prime Ticket

Business / Business News /

Maryland-based Sinclair Broadcast Group Inc. completed its $9.6-billion acquisition of 21 of the Fox regional sports networks on Friday, bringing new ownership to a cluster of popular channels including Fox Sports West, Prime Ticket and Fox Sports San Diego.

Sinclair and Walt Disney Co. announced the completion of the transaction, which ...Read more

Trump blasts Federal Reserve, threatens to escalate trade war with China

Business / Business News /

WASHINGTON -- President Donald Trump on Friday slammed the Federal Reserve leader as an "enemy" and unleashed a flurry of tweets attacking China after Beijing announced retaliatory tariffs on U.S. products.

In a heady morning that sent stock markets tumbling, Trump lit into Jerome H. Powell, whom he appointed as chairman of the U.S. central ...Read more

Motormouth: Car's hesitation is turbo lag

Business / Business News /

Q: In April, I purchased a used 2018 Ford Edge with the EcoBoost 4-cylinder turbo engine and approximately 25,000 miles on it. I feel that the engine has a hesitation from a stop or from lower speeds when asked to accelerate for passing. My dealer does not agree. I have had the car in to them three times.

The first time they reset the computer ...Read more

David Koch, Wichita son who influenced American politics, has died

Business / Business News /

WICHITA, Kan. -- David Koch, who along with his brother Charles ran Koch Industries for decades and became a household name in American politics, has died.

Koch was 79. Koch Industries said in a statement he died "after many years of fighting various illnesses."

Koch was born in Wichita. He was an executive at Koch Industries until he retired ...Read more

David Koch, industrialist who funded conservatives, dies at 79

Business / Business News /

David Koch, the industrialist and libertarian who used his fortune to transform American politics while also donating more than $1 billion to philanthropic causes, has died. He was 79.

The death was confirmed by Koch's spokeswoman Cristyne Nicholas.

Koch, whose net worth of about $59 billion in the Bloomberg Billionaires Index tied him with ...Read more

China to impose fresh tariffs on US goods, including cars

Business / Business News /

BEIJING -- China on Friday said it plans to impose tariffs on an additional $75 billion worth of U.S. goods imported into the country.

The tariffs will range between 5% and 10% and be implemented in two phases on Sept. 1 and Dec. 15, the Customs Tariff Commission of the State Council has announced.

In a separate announcement, China said it ...Read more

Boeing and FAA give more signs of preparations for a 737 Max return to flight

Business / Business News /

Thursday brought more strong hints that Boeing and the Federal Aviation Administration are moving steadily toward ungrounding the 737 Max as soon as October.

The FAA said Thursday it's inviting "a cross-section of line pilots from carriers that operate the aircraft around the world" to participate in simulator testing "as part of the overall ...Read more

Under the Hood: Oil life indicator gives better guidance than lube joint sticker

Business / Business News /

Q: My Honda Civic has a computer that estimates remaining oil life. That usually indicates I have about 50% oil life left when I reach the mileage indicated on my windshield sticker for my next oil change. The sticker is placed there by the repair shop doing the oil change. Should I follow the instructions of the manufacturer/car computer or the...Read more

Shopping abroad for cheaper medication? Here's what you need to know

Business / Business News /

In its effort to temper the sky-high prices Americans pay for many vital medications, the Trump administration last month unveiled a plan that would legalize the importation of selected prescription drugs from countries where they sell for far less. But the plan addresses imports only at the wholesale level; it is silent about the transactions ...Read more

Why Trump is using Henry Ford, gas mileage to call out automakers on Twitter

Business / Business News /

President Donald Trump is angry with automakers, including Ford, that have signed onto a deal with California for fuel-economy standards that are tougher than what the administration wants.

"Henry Ford would be very disappointed if he saw his modern-day descendants wanting to build a much more expensive car, that is far less safe and doesn't ...Read more

The Week Ahead: Consumers are key to recession worries

Business / Business News /

The recession fears are real. A recession isn't.

Emotions and facts often compete for investors' attention. The friction between the two drives short-term price changes.

The economy will fall into a recession. The business cycle ebbs and flows. What worries investors is when will the contraction come and how bad will it be.

It's impossible, ...Read more

An oil pipeline got approved without controversy in Minnesota? Seems so

Business / Business News /

The notion of a noncontroversial new oil pipeline seems quaint these days, yet Minnesota utilities regulators Thursday approved just such a project.

Enbridge got the green light to reroute a 10-mile stretch of its "Line 4" crude oil pipeline through the Fond du Lac Reservation. The Fond du Lac Band of Lake Superior Chippewa requested and ...Read more

Riot Games settles class-action suit by female employees who alleged harassment and discrimination

Business / Business News /

Riot Games has settled a class-action lawsuit filed by workers who said they were routinely subjected to sexual harassment and discrimination in the course of their jobs at the Los Angeles video game studio.

The suit originated last November when two women who had worked at the company, which is owned by the Chinese technology giant Tencent, ...Read more

Amazon ends controversial practice of using tips to meet drivers' wage guarantees

Business / Business News /

Amazon delivery drivers were surprised to learn earlier this year that the e-commerce giant would at times dip into their tips to cover their promised wages. That's about to change, according to an email the company sent drivers on Wednesday.

Amazon will start to give a full breakdown of how much Flex drivers, who deliver for the company's ...Read more

Former Hulu executive leaves Quibi in high-level shakeup at streamer

Business / Business News /

SAN FRANCISCO -- Tim Connollly, the head of partnerships and distribution for streaming video start-up Quibi, has left the company as part of a reorganization.

Connolly, a former Hulu executive who joined in 2018, has exited and the team that reported to him has been reorganized, according to a person familiar with the matter who declined to be...Read more

 

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