'Fate of the Furious' tops box office as 'The Promise,' 'Unforgettable' bomb

Business / Business News /

LOS ANGELES -- A week after its record-setting global debut, Universal's "The Fate of the Furious" is still ruling the box office to the chagrin of a host of newcomers.

"Fate" brought in an estimated $38.7 million in the U.S. and Canada, falling below analyst expectations of $45 million to $50 million. Its total domestic gross to date is $163.6...Read more

Budget director says details of Trump tax plan won't be ready until June

Business / Business News /

The White House will offer "specific governing principles" for its tax plan this week along with indications of what new rates would be, but a complete proposal probably won't be ready until June, President Donald Trump's budget director said.

Trump said in a Twitter post Saturday that tax reform and reduction would be announced this week.

"...Read more

IMF panel adopts Group of 20 view on trade, dropping anti-protectionism stand

Business / Business News /

WASHINGTON –– The International Monetary Fund's steering committee adopted the position on trade taken by the Group of 20 last month in an effort to accommodate Donald Trump's administration, which is considering how far to go in fulfilling the president's campaign pledges to impose tariffs and reshape international accords.

A communique ...Read more

Gail MarksJarvis: Unsure if you're saving enough for college? Check out these new tools

Business / Business News /

How do you know if you are saving enough for college? New Fidelity tools take some of the mystery out of the process and could help ensure that families don't come up short.

Young parents are saving more than any previous generation. As they struggle through the gigantic student loans they had to take on for their own educations, they are ...Read more

Farmers have a beef with Trump and big meat

Business / Business News /

NEW YORK -- Last week, the U.S. Department of Agriculture said it was delaying implementation of an Obama administration rule designed to give America's farmers more leverage in their dealings with mammoth agriculture companies that control almost every aspect of their livelihoods, so-called Big Meat.

The move, though not out of the ordinary ...Read more

In wake of incident, United CEO won't automatically become chairman

Business / Business News /

CHICAGO -- United CEO Oscar Munoz will not automatically become chairman of the company's board next year as planned, the latest move taken by the airline to contain fallout over a passenger-dragging incident at Chicago's O'Hare International Airport earlier this month.

In Friday regulatory filings, the Chicago-based airline said Munoz, whose ...Read more

Federal judge recalls VW's glory years before imposing $2.8B fine

Business / Business News /

DETROIT -- For a moment on Friday, U.S. District Court Judge Sean Cox grew wistful about Volkswagen's past.

That was before Cox imposed a $2.8 billion criminal fine that is part of a larger $4.3 billion plea agreement with the U.S. Department of Justice that includes civil penalties.

Before he characterized the automaker's actions as "massive ...Read more

Wells Fargo ups sham-account settlement to $142 million, making more customers eligible

Business / Business News /

LOS ANGELES -- Wells Fargo & Co. has agreed to boost its payout in a class-action settlement over unauthorized accounts to $142 million, up from the $110 million it announced just three weeks ago, according to documents filed late Thursday.

The scandal-rocked bank agreed to the larger settlement after an internal report released last week ...Read more

United misses Senate deadline on passenger-dragging inquiry

Business / Business News /

CHICAGO -- United Airlines and the Chicago Department of Aviation are asking for more time after missing their deadline to respond to a Senate inquiry into the forcible removal of a passenger earlier this month.

Leaders of the Senate transportation committee requested answers to a number of pointed questions over the handling of the incident by...Read more

Trump targets key Dodd-Frank financial regulations and taxes in new executive actions

Business / Business News /

WASHINGTON -- President Donald Trump, who has vowed to dismantle the landmark Dodd-Frank financial reform law, took aim at two of its pillars Friday.

During an appearance at the Treasury Department, Trump signed two presidential memos ordering six-month reviews of the 2010 law's authority for regulators to designate large firms as a risk to the...Read more

White House to meet biotech, research chiefs after cuts proposed

Business / Business News /

NEW YORK -- Almost a dozen top administration officials, including the vice president and two Trump family members, are scheduled to meet next month with drug companies and government scientific researchers at the White House, according to an agenda obtained by Bloomberg.

Vice President Mike Pence, President Donald Trump's daughter Ivanka Trump...Read more

The Week Ahead: Pricing a government shutdown and more legislative stalemates

Business / Business News /

One hundred days, as arbitrary as that number may be, have traditionally constituted the first grading period for a new president. President Donald Trump's 100th day may well be day one of a government failure.

That's because the 99th day of his presidency also is the legislative deadline for a new federal government spending plan. This ...Read more

Trump to sign order reviewing tax rules issued in 2016

Business / Business News /

WASHINGTON -- President Donald Trump will sign an executive order Friday directing Treasury Secretary Steven Mnuchin to review any significant tax regulations from last year, especially those that burden Americans.

The president will also sign memos related to the designation process of systemically important banks and to orderly liquidation ...Read more

FCC changes to data services could raise costs for rural areas, commissioner argues

Business / Business News /

WASHINGTON -- Federal Communications Commissioner Mignon Clyburn ripped the FCC's decisions Thursday to soften regulations on business data services and to reinstate a rule that could increase TV station mergers.

Clyburn, a South Carolina native and Democrat, called the party-line vote on business data services an "all-out assault on America's ...Read more

United commercial draws laughter at Tribeca Film Festival

Business / Business News /

CHICAGO -- At the opening night of the Tribeca Film Festival, one of the biggest laughs came not from the feature film, but from a United Airlines commercial shown before the screening.

Audience members were settling in to watch the world premiere of a documentary on music industry executive Clive Davis when a commercial highlighting the ...Read more

EBay shares take a hit as outlook fails to inspire investors

Business / Business News /

SAN JOSE, Calif. -- Investors didn't buy what eBay was selling Thursday after the e-commerce leader gave a weaker-than-expected earnings and sales outlook that took some of the shine off of the company's upbeat first-quarter results.

EBay shares fell by almost 4 percent, to close at $32.53 after the company said late Wednesday that for its ...Read more

Target innovation chief leaving

Business / Business News /

MINNEAPOLIS -- Casey Carl, a Target Corp. lifer and currently its chief innovation and strategy officer, is leaving the company amid a narrowing of innovation efforts to those that yield faster results tied to its core business.

He is one of the most senior among a number of digital- or innovation-focused executives who have left the ...Read more

Federal consumer agency accuses major mortgage servicer of mishandling loans

Business / Business News /

The Consumer Financial Protection Bureau sued Ocwen Financial Corp., one of the nation's largest mortgage servicers, on Thursday, alleging the company engaged in "significant and systemic misconduct" that caused borrowers to lose their homes.

In addition to the lawsuit filed in U.S. District Court in Florida, more than 20 state regulators took ...Read more

United rolling out cheaper, no-frills fares in new cities

Business / Business News /

CHICAGO -- A lot more passengers will have access to United Airlines' new no-frills "basic economy" fares next month.

The fares, which offer the cheapest seats on a plane in exchange for giving up a few of the perks that still come with standard economy tickets, are now available in more than 100 domestic markets, United spokeswoman Maggie ...Read more

Tesla recalls some Model S and Model X cars for parking brake problem

Business / Business News /

SAN FRANCISCO -- Because of a parking brake that might stick and render a car immobile, Tesla Inc. has issued a voluntary recall for certain Model S and Model X luxury electric cars.

In an email to owners Thursday, first revealed by TechCrunch, Tesla said that no injuries related to the defect have been reported, and that "we do not believe ...Read more

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