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John T. Greilick/The Detroit News/TNS

Ford posts 5.3% profit decline in second quarter from warranty costs

Business / Business News /

Ford Motor Co. said Wednesday it made $1.8 billion in net income in the second quarter of 2024, a 5.3% decline year-over-year from increased warranty costs.

The profit that represented 46 cent earnings per diluted share came on $47.8 billion in revenue, which was up 6.2%. Those are mixed results compared to Wall Street expectations. Analysts, ...Read more

Ukrainian fruit juice kingpin owes Cargill $124M judgment, but can't be found

Business / Business News /

A British court ruled in late 2022 that a Ukrainian fruit juice magnate and his company — T.B. Fruit — stiffed Cargill of $124 million. But Cargill has yet to recover a cent.

The juice maker, Taras Barshchovskiy, has proven elusive: He claims no place of residency. And Cargill alleges that to avoid paying his debts, he fraudulently ...Read more

CEO of Florida-based 'sham' health insurance agency sentenced to 25 years in prison

Business / Business News /

Convicted fraudster Steven J. Dorfman was sentenced on Wednesday to 25 years in prison for deceiving customers of his Hollywood, Florida-based insurance agency Simple Health Plans into buying coverage that left many owing thousands of dollars for medical procedures.

Dorfman, 40, registered no emotion and made no statements during the sentencing...Read more

Clarence Tabb Jr./The Detroit News/TNS

UAW withholds Harris endorsement as Fain bashes Trump

Business / Business News /

WASHINGTON — United Auto Workers President Shawn Fain, speaking to a teachers union Wednesday, repeatedly bashed Republican presidential nominee Donald Trump but did not once mention the Democrats' new prospective nominee, Vice President Kamala Harris.

The union — a key group within American labor organizing, the auto industry and ...Read more

DREAMSTIME/TNS

What is 'surveillance pricing,' and is it forcing some consumers to pay more? FTC investigates

Business / Business News /

It's no secret that Californians pay more than the rest of the country for many goods and services — gas, housing, food, you name it. That's part of the high cost of living in this state.

What's less well known, though, is that consumers may be paying higher prices than their neighbors pay.

Tech firms and consultants have been offering ...Read more

John Spink/The Atlanta Journal-Constitution/TNS

Delta begins recovery as meltdown draws new scrutiny from lawmakers

Business / Business News /

Delta Air Lines has started to recover from an operational meltdown that left hundreds of thousands of travelers stranded around the country over the last five days, but is drawing new scrutiny from federal lawmakers as an investigation into the matter begins.

Atlanta-based Delta had more than 45 flight cancellations Wednesday as of about 9:30 ...Read more

Dreamstime/Dreamstime/TNS

California is trying to force Big Tech to pay for news. What can we learn from Australia and Canada?

Business / Business News /

Three years ago, when Australian politicians took on the titans of Big Tech — crafting legislation to force Google and Facebook to pay for news articles they share on their sites — Google threatened to pull out of the country.

If the News Media Bargaining Code became law, Google Australia Managing Director Mel Silva said in a Senate hearing...Read more

Joby Aviation/Joby Aviation/TNS

Joby takes 523-mile hydrogen-electric flight above California

Business / Business News /

In June, Joby Aviation successfully completed a 523-mile flight above Marina, California, of its first-of-its-kind hydrogen-electric technology demonstrator aircraft, and in July, California became the first state to officially launch a Hydrogen Hub, with both developments having a stake in furthering the state’s goal of cutting pollution and ...Read more

Allen J. Schaben/Los Angeles Times/TNS

Disneyland, employees avert strike with tentative contract deal

Business / Business News /

Disneyland and its employees said they had reached a tentative contract deal, averting what could have been the first major work stoppage at the Anaheim theme park in 40 years.

Members of the Master Services Council — an alliance of unions representing custodians, ride operators, candy makers, merchandise clerks and other Disneyland employees...Read more

Christina House/Los Angeles Times/TNS

As competitors falter, Skechers is surging with strategy of 'try and try again'

Business / Business News /

In a crowded sneaker market roiled by the stumbles of its longtime king, Manhattan Beach, California-based Skechers has been climbing its way up the ranks.

While Nike, which has dominated the athletic footwear landscape for years, made headlines last month for its plummeting stock price and gloomy outlook, Skechers announced record sales in the...Read more

Chip Somodevilla/Getty Images North America/TNS

Michael Hiltzik: Federal regulators step up their campaign against predatory payday lenders and their rip-offs

Business / Business News /

In 2017, the federal government was poised to give low-income consumers a respite from the myriad abuses and rip-offs visited on them by the payday lending industry.

The Consumer Financial Protection Bureau, created in 2010 as part of the banking reforms enacted after the 2008 financial meltdown, had completed a five-year project to finalize a...Read more

NatmacStock/DREAMSTIME/TNS

Zelle, bank scams cost customers millions each year. This senator wants reimbursements

Business / Business News /

Consumers are losing millions of dollars every year due to financial scams in the fast-growing world of electronic money transfers, U.S. Sen. Richard Blumenthal, D-Connecticut, said Tuesday, calling for an end to loopholes allowing the problem.

The average loss to the consumer is in the range of $500, but that can be $3,000 to $5,000 for larger...Read more

Dangbei/Dangbei/TNS

Tech review: Dangbei DBOX02 can bring the movie theater to your living room

Business / Business News /

I’ve been really happy with the 65-inch TV in my living room, but after trying out the Dangbei DBOX02 4K Laser Projector, I really wish I had the room to set up a home theater.

The DBOX02 ($1,899, but on sale at launch for less) can project up to a 200-inch picture at 4K resolution.

That’s a 16-foot diagonal image.

I definitely need a ...Read more

Misael Virgen/San Diego Union-Tribune/Zuma Press/TNS

Desalination plant proposed for San Francisco Bay

Business / Business News /

Saying it needs to evaluate all options for new sources of drinking water, Silicon Valley’s largest water district is studying a plan to build the first seawater desalination plant along the shores of San Francisco Bay.

The Santa Clara Valley Water District, a government agency based in San Jose, California, has approved spending $1.7 million...Read more

Brian Cassella/Chicago Tribune/TNS

More than 10,000 Cook County residents to receive property tax refunds

Business / Business News /

More than 10,000 residents of Cook County can expect to receive automatic refunds due to overpayments of their property taxes, Cook County Treasurer Maria Pappas announced Tuesday.

The treasurer plans to send out more than $22 million in refunds by Aug. 9. Over half of the 10,099 property owners will have the funds directly deposited back into ...Read more

Nicolas Asfouri/Getty Images North America/TNS

Tesla misses profit estimates, extending weak start to 2024

Business / Business News /

Tesla Inc. fell short of Wall Street profit estimates in the second quarter, extending a rocky start to the year marked by slower sales and mass firings across the company.

It was the fourth consecutive miss for the electric-vehicle maker, which on Tuesday reported adjusted earnings of 52 cents a share, short of the average analyst estimate of ...Read more

Joe Burbank/Orlando Sentinel/TNS

Carnival Cruise Line to get 3 new ships with near 8,000-passenger capacity

Business / Business News /

Carnival Cruise Line’s parent company inked a deal for three new ships powered by liquefied natural gas that will be the largest ever built for the fleet.

Carnival Corp. signed an agreement with Italian shipyard Fincantieri for the three LNG-powered ships that will be delivered in 2029, 2031 and 2023. The deal is contingent on financing, ...Read more

Dreamstime/Dreamstime/TNS

Coca-Cola reports better-than-expected results for quarter

Business / Business News /

Coca-Cola on Tuesday reported stronger than expected quarterly earnings on growing sales as the Atlanta-based beverage behemoth saw growth in most of its global markets.

Revenue for the second quarter was $12.4 billion, 3% higher than the same period of 2023, while earnings were 84 cents per share, 7% better than a year ago. Profit margins were...Read more

John Spink/The Atlanta Journal-Constitution/TNS

DOT to investigate Delta amid thousands of flight cancellations

Business / Business News /

The U.S. Department of Transportation will investigate Atlanta-based Delta Air Lines and how it is treating passengers, Transportation Secretary Pete Buttigieg announced, as the airline entered its fifth day of an operational meltdown with thousands of canceled flights.

Buttigieg said in a post on social media platform X that the DOT has opened...Read more

John Spink/The Atlanta Journal-Constitution/TNS

Here's what you should know if your Delta flight is canceled

Business / Business News /

Hundreds of thousands of travelers have been stranded by Delta flight cancellations, and many have to wait for hours to get assistance from the airline.

Here’s what travelers should be aware of if their Delta flight is canceled.

Your right to a refund

If the airline cancels or significantly delays your flight, you are entitled to a prompt ...Read more