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St. Louis Boeing unit gets new defense contract for F-15s

Business / Business News /

The Boeing Co. has been contracted to construct F-15 fighter aircraft to be sold to Japan, the U.S. Department of Defense announced Tuesday.

The contract awards the aviation giant $450.5 million and comes from the Air Force. It covers the acquisition of radars, self-protection systems and mission computer units.

The work will be done in the St...Read more

Katherine Jones/Idaho Statesman/TNS

Albertsons ends merger with Kroger and sues it, seeking billions of dollars

Business / Business News /

What a difference a day makes. On Tuesday, they were partners. On Wednesday, they were angry divorcees.

Albertsons called off its proposed sale to Kroger and sued the rival grocer for billions of dollars the morning after a federal judge in Portland blocked the merger. The deal would have combined the nation’s largest and second-largest ...Read more

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US inflation in line with forecasts solidifies bets on Fed cut

Business / Business News /

U.S. consumer prices rose at a firm pace in November that was in line with expectations, solidifying expectations for the Federal Reserve to cut interest rates next week.

The so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a fourth straight month, Bureau of Labor Statistics figures showed ...Read more

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GM halts funding for Cruise robotaxi program

Business / Business News /

DETROIT — General Motors Co.'s move Tuesday to halt funding for its Cruise LLC robotaxi program makes way for Silicon Valley rivals to take a firmer hold of the potentially multi-billion-dollar business. But experts say bowing out is the right choice for the embattled Cruise.

The decision to instead focus on providing autonomous technology in...Read more

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Amazon targets influencer reviews on TikTok, YouTube, Instagram

Business / Business News /

Amazon.com Inc. is asking online shoppers to provide information about product testimonials they’ve posted on TikTok, YouTube and Instagram, suggesting the e-commerce giant is more aggressively targeting paid reviews that merchants can use to gain a competitive edge.

In a questionnaire sent to a reviewer and seen by Bloomberg, a member of the...Read more

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Tech review: Three big batteries to keep your gear powered up

Business / Business News /

We all just want our stuff to work, right?

Since most of us have abandoned landlines, our cell phones are our lifelines and the main way we communicate with each other and stay informed.

One of my bigger fears is my phone or laptop running out of power just when I need it most, so I’m an “overcharger.”

My phone transitions from one ...Read more

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Huawei's new Mate 70 phone shows its chip advances are stalling

Business / Business News /

Huawei Technologies Co.’s latest flagship smartphone is powered by a chip little different from the one that set off alarm bells in Washington a year ago, signaling a slowdown in the Chinese company’s tech advances.

The newly introduced Mate 70 Pro Plus phone runs on a processor built with the same 7-nanometer technology used in its Mate 60...Read more

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HelloFresh being investigated for alleged child labor violations at Illinois plant

Business / Business News /

Meal kit company HelloFresh is under investigation by federal regulators for alleged child labor violations at an Aurora, Illinois, food production and distribution facility.

ABC News first reported on the investigation, citing immigrant rights advocate Cristobal Cavazos of Immigrant Solidarity DuPage, who told the news source that at least six...Read more

Elijah Nouvelage/AFP/Getty Images North America/TNS

Kroger's $24.6 billion Albertsons deal blocked by judge

Business / Business News /

A judge blocked Kroger Co.’s $24.6 billion acquisition of Albertsons Cos., finding the takeover would lessen competition for U.S. grocery shoppers, in a ruling that marks a likely death knell for the deal.

In a decision filed in Oregon federal court Tuesday, U.S. District Judge Adrienne Nelson found in favor of the U.S. Federal Trade ...Read more

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$25 billion Kroger-Albertsons merger plan is blocked by federal judge

Business / Business News /

Kroger's plans to buy its grocery rival Albertsons hit a major roadblock Tuesday, when a federal judge put a halt to the deal, which would be the largest supermarket merger in U.S. history.

The decision is a blow to Albertsons and Kroger, which announced plans for the $24.6-billion acquisition of its rival in 2022.

The Federal Trade ...Read more

Jennifer Buchanan/The Seattle Times/TNS

Boeing resumes 737 Max production in Renton after end of Machinists strike

Business / Business News /

Boeing has resumed production of the 737 Max in Renton after a Machinists strike left its factories in the Puget Sound region idle from September to mid-November.

The company expects to resume production of the 767 and 777/777X planes in Everett in the days ahead, Boeing said Tuesday in a monthly announcement detailing orders and deliveries of ...Read more

Illinois workers can claim unpaid wages totaling more than $4.2M

Business / Business News /

More than 5,500 Illinois workers owed back pay totaling more than $4.2 million can claim their unpaid wages online, the U.S. Department of Labor said Tuesday.

The funds are the result of investigations by the department’s wage and hour division, which recovers back pay for workers when they are underpaid in violation of laws, including ...Read more

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A year later, where does the UAW's southern organizing campaign stand?

Business / Business News /

The United Auto Workers' aggressive $40 million effort to organize nonunion car factories has cooled in recent months and is expected to face new challenges under a Trump administration that is less friendly with organized labor.

After winning big wage and benefit gains from Detroit's major automakers a year ago, the UAW announced plans to ...Read more

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Walgreens considering selling company to private equity firm, according to published report

Business / Business News /

Walgreens Boots Alliance is considering selling the company to a private equity firm — a move that would take the publicly traded company private, according to a Wall Street Journal report.

Deerfield, Illinois-based Walgreens has been in discussions with Sycamore Partners over a deal that could be completed early next year, the Journal wrote,...Read more

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FDIC survey: Unbanked households hit record low

Business / Business News /

A record low number of households in the U.S. are unbanked, according to the 2023 Federal Deposit Insurance Corp. (FDIC) National Survey of Unbanked and Underbanked Households released Nov. 12, 2024. A household in which no members have a bank account, is how unbanked is defined by the FDIC.

This number has steadily decreased — from its ...Read more

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Mondelez's takeover of Hershey would rank as top deal of 2024

Business / Business News /

Snack-food giant Mondelez International Inc.’s potential takeover of chocolate maker Hershey Co. would rank as the year’s top M&A deal.

The volume of mergers and acquisitions globally is already up 18% year over year to $3.1 trillion as dealmaking makes a slow recovery from last year’s lows, according to data compiled by Bloomberg. A ...Read more

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S&P lowers Eversource credit rating, utility blasts CT regulators, claims customers to pay price

Business / Business News /

For the second time in less than a week, a major credit agency has lowered the credit rating on a Connecticut utility, saying again that a series of inconsistent and adverse rate decisions by the state Public Utility Regulatory Authority has undermined Eversource’s financial position.

The reduction by S&P Global of the Eversource credit score...Read more

Dania Maxwell/Los Angeles Times/TNS

Warner Bros. Discovery strikes new distribution deal with Comcast

Business / Business News /

Warner Bros. Discovery has taken steps to strengthen its economic footing with a major channel distribution deal.

The company announced Monday that it had reached an agreement for cable giant Comcast Corp. to continue carrying Warner Bros. Discovery's linear cable channels, including HBO, TNT, HGTV, Food Network, CNN and Animal Planet. The ...Read more

US labor costs revised down in sign of easing inflation pressure

Business / Business News /

U.S. third-quarter labor costs grew less than initially estimated after a downwardly revised decline in the prior three months, adding to evidence the job market is no longer a source of inflationary pressure.

Unit labor costs, or what a business pays employees to produce one unit of output, increased at a 0.8% annualized rate from July through...Read more

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Californians have dim view of Newsom's handling of economy, poll finds

Business / Business News /

Most Californians are pessimistic about the state’s future and disapprove of how Gov. Gavin Newsom and state lawmakers are handling the economy, according to a wide-ranging poll released late Monday.

But a majority of Californians are optimistic about their own financial future and aren’t planning to leave the state, according to the poll ...Read more