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Trump orders TikTok's parent to sell its US assets

Business / Business News /

WASHINGTON -- President Donald Trump on Friday ordered the Chinese owner of the popular music video app TikTok to sell its U.S. assets, citing national security concerns.

Trump's decision came after an investigation by the Committee on Foreign Investment in the U.S., which reviews acquisitions of American businesses by overseas investors. ...Read more

Court finds Amazon can face liability for defective products sold by third parties on its website

Business / Business News /

Amazon can be held liable for defective products sold by third-parties on its website, a California state appeals court ruled Thursday in case brought by a San Diego woman injured when a laptop battery that she purchased exploded.

The decision by the California Court of Appeal's Fourth Appellate District in San Diego is one of the few ...Read more

Sinclair Broadcast settles shareholder lawsuits for $25 million

Business / Business News /

Sinclair Broadcast Group has reached a $25 million deal to settle shareholder lawsuits stemming from its failed $3.9 billion merger with Tribune Media Co.

The lawsuits alleged breach of fiduciary duties by the Hunt Valley broadcasting company's officers and directors as they sought approval from regulators to merge with Tribune in 2018.

...Read more

Column: The maker of 'Fortnite' complains that Apple and Google are monopolists. No kidding

Business / Business News /

Battles among behemoths are always entertaining to witness, as long as one can keep a safe distance.

The donnybrook between Epic Games, the maker of the immensely popular game "Fortnite," on the one hand and Apple and Google on the other falls into that category. So far, it's a draw, but a lot of social media hubbub will be heard and lawyer ...Read more

US Postal Service adds first surcharges ahead of holiday rush

Business / Business News /

The U.S. Postal Service is rolling out its first peak-season surcharges for commercial package deliveries as the agency seeks to cope with costs from the coronavirus pandemic and an expected surge in holiday demand.

The increases range from 24 cents to $1.50 per package and will last from Oct. 18 to Dec. 27, the post office said Friday in a ...Read more

Shopping in California is still far below normal, report says, lagging recovery seen in rest of the country

Business / Business News /

In-store shopping in California is suffering a prolonged hit, seeing only a small fraction of foot traffic compared to this time last year. The state is significantly lagging behind national trends, seeing virtually no recovery since May.

That's according to a new report released by San Francisco tech company Zenreach, whose technology can ...Read more

Chicago restaurants sue for coronavirus insurance payouts, struggle to hang on. 'We're just hoping it's not too little too late.'

Business / Business News /

CHICAGO -- Since suing his insurance carrier nearly five months ago, in hopes of recovering some of the money he's lost during the pandemic, Ryan Marks has been doing what he can to keep his three restaurants afloat.

Neither he nor his business partners are taking salaries. He moved to a smaller apartment that costs half as much. He has been ...Read more

Macy's considering leaving Chicago's Water Tower Place

Business / Business News /

CHICAGO -- Macy's is considering leaving its store in Water Tower Place, Mayor Lori Lightfoot said at a Friday news conference.

Lightfoot, who announced increased security measures in the Loop this weekend after unrest earlier in the week, pushed back when asked about a report suggesting recent looting was a factor in the retailer's potential ...Read more

Billions on the line as horse gaming case brought before Kentucky Supreme Court

Business / Business News /

A decade-long court case on the legality of Kentucky's racetrack gambling parlors may finally be coming to a head.

The Kentucky Supreme Court on Friday heard oral arguments between the Family Foundation, a conservative group that opposes expanded gambling, and the tracks, which have been operating the slots-like electronic gambling machines ...Read more

Under the Hood: The strange case of the possessed Bonneville

Business / Business News /

Q. What is the weirdest problem you've ever encountered, and fixed?

-- Zach K.

A: There have certainly been many odd situations through the years that can make one realize there is so much more to learn, and symptoms and failures can occur under the most odd circumstances.

It was 1988, I was the technical foreman at a Pontiac dealership. I ...Read more

'Ted Lasso' was icing on a $250-million deal. Now he has his own TV show

Business / Business News /

In 2012, after spending $250 million for the broadcast rights to the Premier League, NBC Sports realized it had a problem. No one was sure the U.S. audience understood enough about English soccer to justify the investment, so the network needed a cheeky way to let viewers know it was OK to be a little vague on the rules.

Enter Ted Lasso, a gum-...Read more

Musicians sue 'The Voice' producer, claiming it did not fully pay wages

Business / Business News /

The American Federation of Musicians has sued the maker of NBC's "The Voice," alleging that the Beverly Hills-based producer of the reality singing competition shortchanged its members.

The New York City-based union, which represents some 80,000 performers in the U.S. and Canada, said 212 Productions LLC either underpaid or failed to pay ...Read more

Column: Trump promotes shoddy faith-based health plans in new attack on Obamacare

Business / Business News /

Never let it be said that President Trump doesn't know how to take advantage of a crisis. For our latest example, let's look at how he has exploited the distractions caused by the COVID-19 pandemic to quietly launch yet another attack on the Affordable Care Act.

This attack involves promoting "healthcare sharing ministries," which are typically...Read more

The Week Ahead: Pricing in politics and election anxiety

Business / Business News /

Conventional wisdom holds that the stock market today reflects the general economic environment expected in six months or so. If the premise is true, then investors already have anticipated who will be president on Inauguration Day in January 2021.

But, of course, no shareholder knows.

The race for the White House enters its last stage in the ...Read more

Larry Printz: Bargain boxes: 2020's most affordable new CUVs

Business / Business News /

It probably hasn't crossed your mind, but if you're wondering why crossover utility vehicles, or CUVs, are more popular than sedans, keep in mind they aren't much different in length, height, width or ground clearance from cars built 80 years ago, although their packaging and style vary greatly from their ancestors. Still, it demonstrates that ...Read more

Sports-hungry fans are welcoming live events back to TV

Business / Business News /

Viewer response to the return of live sports on TV can be summed up in a paraphrase of the famous line from "Field of Dreams" -- if you build it, they will come.

Golf, NASCAR, Premier League soccer and hockey are pacing well ahead of their viewing levels before all action was shut down by the coronavirus pandemic in March.

Major League ...Read more

Head of busiest US port says China to miss agriculture target

Business / Business News /

The head of the U.S.'s busiest port said China is on track to buy less than one-third of the American agricultural products it promised to purchase in 2020, the first year of a trade pact between the world's two biggest economies.

"The phase-one trade deal set lofty expectations for purchases that had not been witnessed by American agriculture ...Read more

Auto review: Porsche 911 is still the performance standard

Business / Business News /

DETROIT -- Everything has its baseline for greatness. In golf, it's Tiger Woods. In tennis, Roger Federer. In basketball, Michael Jordan.

For sports cars, it's the Porsche 911.

The 21st century has seen a resurgence in supercars with new entries like the McLaren 570 and Audi R8 joining mainstays Ferrari and Lamborghini. Yet the 911 has ...Read more

Epic Games files lawsuit against Apple after Fortnite is removed from the App Store

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The popular video game Fortnite was removed from Apple's App Store on Thursday, after Epic Games attempted to circumvent Apple's 30% cut of in-app purchases.

In response, the Cary, N.C.-based video game maker filed a lawsuit against Apple, asking a court to order Apple to reinstate the game and declare the Apple fee illegal.

In its legal ...Read more

White House says no plan to end payroll tax permanently

Business / Business News /

WASHINGTON -- White House officials said the administration has no plans to do away with the payroll tax despite President Donald Trump saying he would seek a permanent repeal if he wins another term.

Even if Trump were to follow through, the idea of doing away with the tax is unlikely to get much support in Congress because it could drive up ...Read more