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Remote work drove over 60% of house-price surge, Fed study finds

Business / Business News /

The shift to working from home drove more than half of the increase in house and rent prices during the pandemic and will likely drive up costs and inflation going forward as the shift becomes permanent, according to research from the Federal Reserve Bank of San Francisco.

“The transition to remote work because of the COVID-19 pandemic has ...Read more

Mandel Ngan/AFP/Getty Images North America/TNS

Airlines would have to disclose fees under new US proposal

Business / Business News /

President Joe Biden will unveil new regulations designed to tackle persistent inflation by requiring airline companies and internet-service providers to be more transparent about hidden fees, as the White House battles rising costs threatening Democrats’ prospects in November elections.

A proposed rule requiring airlines to disclose more ...Read more

Why does money exist?

Business / Business News /

Curious Kids is a series for children of all ages. If you have a question you’d like an expert to answer, send it to curiouskidsus@theconversation.com.

Why do money and trading exist? – Vanessa C., age 10, Gilbert, Arizona

Imagine a world without money. With no way to buy stuff, you might need to produce everything you ...Read more

Why Patagonia's purpose-driven business model is unlikely to spread

Business / Business News /

Patagonia founder Yvon Chouinard, his wife, Malinda, and their two adult children no longer own the outdoor gear and apparel company. But based on my experience as a former executive who is now an adviser and lecturer focused on sustainability, I don’t expect many other U.S.-based companies to follow their lead.

Going forward, all ...Read more

This is not your captain speaking: Moans and groans are taking over some flights' PA systems

Business / Business News /

It began almost as soon as he stepped onto the plane.

As Emerson Collins, a film producer and nonprofit director, boarded his American Airlines flight from Los Angeles to Dallas on Sept. 6, a bizarre noise from the plane's intercom system flooded the cabin: a loud groan — or was it a moan? — laced with pain — or was it pleasure?

It was ...Read more

Food inflation sends the American Diner Index soaring 13%

Business / Business News /

The cost of preparing a classic lunch at an American diner has shot up by almost 13% in a year.

To track inflation’s effect on a beloved menu choice, Bloomberg created an American Diner Index that includes ingredients for the toothpicked club sandwich, as well as the accompanying potato chips, ice cream and soda. Although restaurant owners ...Read more

Five rules for family businesses to thrive

Business / Business News /

Nobody does dynasty better than the British royal family. The recent days of pomp and circumstance have not only been a celebration of a life well lived. They have been a celebration of the power of the family to transcend death and to link the past to the present and thence to the future. Individual monarchs may die. The institution lives on ...Read more

Paul Brady/Dreamstime/TNS

This Federal Reserve policy you've never heard of could have the biggest effect on your wallet

Business / Business News /

The Federal Reserve is making headlines by raising interest rates at the fastest pace in a single year since the 1980s, concerning investors and consumers alike with fears the central bank could go too far, too fast.

But it’s another lesser-known decision — albeit a substantially more complex one — that could have an even greater ...Read more

Dreamstime/Dreamstime/TNS

GM tells white-collar employees to return to office 3 days a week

Business / Business News /

General Motors Co. white-collar employees will be expected to return to the office three days a week later this year, the company said Friday.

A specific timeframe for when employees will begin work under the new system was not released. The move comes after GM last year introduced a "Work Appropriately" model that gave GM teams the flexibility...Read more

Qualcomm/Qualcomm/TNS

Qualcomm gains traction with automakers as order backlog swells to $30 billion

Business / Business News /

Qualcomm has long sought to gain traction with automakers as an avenue toward diversifying its business beyond the maturing smartphone market.

This week, the mobile technology firm — and San Diego's largest publicly traded company — laid out the milestones of its efforts so far, including a pipeline of orders from car makers that's reached ...Read more

Ray Chavez/Bay Area News Group/TNS

California gas is 'out of whack' – nearly $2 more than national average

Business / Business News /

California has long been known as the country’s priciest place to fill up your tank, but these days the Golden State is “completely out of whack.”

As gas prices plummeted around the nation in recent weeks, California’s price at the pump has rebounded with a vengeance to an average of $5.58 a gallon.

That’s $1.89 more than the ...Read more

Foil balloons can take down power lines. California just passed a law to phase them out

Business / Business News /

It's all fun and games until the power line blows up.

Foil balloons commonly festooned at celebratory events such as birthdays and graduations inadvertently cause thousands of power outages. The shiny, metallic exterior of the balloons, such as Mylar, are electrically conductive and if they float into and get tangled in power lines, they can ...Read more

Could we be heading toward a global recession?

Business / Business News /

It's been a rough couple of weeks on the stock market, ending recently with a warning from FedEX about a downturn in the global economy that sent shares tumbling.

FedEx CEO Raj Subramaniam said on CNBC that he believed a recession was impending for the global economy. He cited the company's weakening global shipment volumes as a reason for his ...Read more

Justin Sullivan/Getty Images North America/TNS

Saturday is the last day for Illinois residents to claim a cut of $100 million Google Photos privacy settlement

Business / Business News /

Illinois residents have until Saturday to submit claims for their cut of a $100 million class-action settlement reached this spring in a lawsuit against Google over alleged violations of the state’s biometric privacy law.

Anyone who appeared in a photo on Google Photos between May 1, 2015, and April 25, 2022, while they were an Illinois ...Read more

Philadelphia tech salaries see biggest jump in the US, growing faster than Silicon Valley

Business / Business News /

Technology job paychecks grew fastest in Philadelphia this year, according to a new survey of employers and workers by Hired.com.

Philadelphia posted the largest growth in average local tech salaries — a nearly 12% increase from $127,000 in 2021 to $142,000 in 2022 — compared with 15 other large U.S. metro areas, including Silicon Valley....Read more

A resurgent bird flu is wiping out egg, turkey supplies across America

Business / Business News /

Turkeys are selling for record high prices ahead of the Thanksgiving holiday as a resurgence of bird flu wipes out supplies across the U.S.

Avian influenza is devastating egg and turkey operations in the heartland of the country. If just one bird gets it, the entire flock is culled in order to stop the spread. Millions of hens and turkeys have ...Read more

General Motors invests $760 million for EV-related work at Toledo transmission plant

Business / Business News /

General Motors Co. is investing $760 million at its Toledo Propulsion Systems plant for the production of drive units that will be used for future battery electric trucks, including the Chevrolet Silverado EV, GMC Sierra EV and GMC Hummer EVs, the company said Friday.

The Ohio factory is the first of GM's U.S. powertrain or propulsion-related ...Read more

Justin Sullivan/Getty Images North America/TNS

Michael Hiltzik: The fast-food industry gears up to kill another pro-worker state law

Business / Business News /

Political PR and advertising firms in California are going to owe Gov. Gavin Newsom a huge favor. That's because by signing the so-called Fast Recovery Act on Sept. 5, he opened the door to what could be hundreds of millions of dollars in spending by fast-food companies to kill it.

The act — formally the Fast Food Accountability and Standards...Read more

Mark Mainz/Getty Images North America/TNS

Mary McNamara: Ms. Magazine helped millions become feminists. Its workplace helped me become an adult

Business / Business News /

Ms. Magazine recently celebrated its 50th anniversary with a party in New York, and as a former staff member I was invited to attend. I went not knowing quite what to expect.

It's a complicated moment for women's rights. The term "feminist" is no longer as contentious as it once was, but recent events, including the exposure of systemic sexual ...Read more

Yuri Gripas/Abaca Press/TNS

It's every nation for itself as dollar batters global currencies

Business / Business News /

Nations are being forced to go it alone in erecting defenses against the relentless strength of the almighty greenback, with no sign that governments are willing to act in concert.

Fueled by hawkish Federal Reserve policy, U.S. economic strength and investors in search of a haven from market swoons, the greenback is surging relentlessly against...Read more