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Health care plan is at center of dispute between writers and major studios

Business / Business News /

LOS ANGELES -- When Hollywood writers went on strike in 1973, they agitated for something new -- a health plan that would offer comprehensive coverage for its guild members.

Since then, the writers' insurance plan has become one of the most envied in Hollywood. Members don't pay monthly premiums and have deductibles far below the national ...Read more

Trump tax plan seen turning 'everyone and their dog' into an LLC

Business / Business News /

NEW YORK -- The Trump administration's proposal to cut the tax rate on partnerships and limited liability companies could set off a stampede of individual taxpayers trying to reclassify themselves as so-called pass-through businesses to take advantage of the savings, according to tax experts.

Call it the Kansas problem.

In 2012, Kansas ...Read more

California and Iran pistachio producers pitch shells at one another in tariff fight

Business / Business News /

WASHINGTON -- Pistachios now pose the latest flashpoint between Iran and the United States.

As the two countries struggle to redefine their relationship over weighty matters such as nuclear policy, California pistachio producers have another mission.

They're lobbying hard to keep a stiff tariff on Iran's raw in-shell pistachios. Iranians hope ...Read more

BlackRock CEO: Tax cuts could create 'explosive deficits,' do little to boost growth

Business / Business News /

CHICAGO -- The U.S. economy's growth has been "terrible" and President Donald Trump's proposed tax reforms are not likely to give the nation the boost that investors are expecting, the head of the world's largest money manager said Friday in Chicago.

Speaking at Morningstar's annual investment conference, BlackRock Chief Executive Laurence Fink...Read more

SpaceX set to launch a national security satellite on Sunday

Business / Business News /

SpaceX is set to launch a payload Sunday morning for the National Reconnaissance Office in one of the company's earliest tests as a national security launch provider.

The spy satellite, known as NROL-76, will launch on a Falcon 9 rocket from Pad 39A at Kennedy Space Center in Florida. The two-hour launch window opens at 7 a.m. Eastern time.

...Read more

GM first quarter earnings soar 33 percent to $2.6 billion

Business / Business News /

DETROIT -- General Motors CEO Mary Barra said Friday the automaker's first-quarter results show the company's strategy of focusing on profitable areas and pulling back on others is making a difference.

The automaker's profits soared 33 percent during the first three months of the year to $2.6 billion -- a first-quarter record for the company ...Read more

Chevron, helped by cost cuts, swings to first-quarter profit

Business / Business News /

SAN RAMON, Calif. -- Chevron on Friday reported first-quarter earnings that exceeded Wall Street's expectations as the oil and gas industry giant turned around from a loss a year ago and said business improved due to rising crude oil prices and continued cuts in its overall operational costs.

Before the stock market opened, Chevron said it ...Read more

Demetrio, lawyer for dragged United passenger, is highflying aviation attorney

Business / Business News /

CHICAGO -- Thomas Demetrio, the Chicago personal injury lawyer who negotiated an undisclosed settlement with United Airlines in its passenger-dragging incident, is no stranger to holding airlines accountable.

Well-known in legal circles, Demetrio, 69, has been in the spotlight since the April 9 episode in which smartphone video captured Dr. ...Read more

Apple blocks more patent payments to Qualcomm, escalating feud

Business / Business News /

SAN DIEGO -- Qualcomm slashed it financial forecast for the current quarter early Friday, blaming Apple for further withholding patent royalties payments in a fierce legal fight over intellectual property licensing.

The lower revenue and profit outlook -- which Qualcomm hinted at last week when it reported earnings for the quarter that ended in...Read more

Economic growth stumbles to worst rate in 2 years, underscoring Trump's challenge

Business / Business News /

WASHINGTON -- The economy stumbled at the start of 2017, expanding at its slowest pace in two years in a demonstration of the difficulty President Donald Trump will have in boosting growth to a much stronger sustained level.

Total economic output, also known as gross domestic product, increased at just a 0.7 percent annual rate from January ...Read more

Under the Hood: Faulty transmission, floppy sun visor and more

Business / Business News /

Q: I own a 1995 Mazda MPV with an automatic transmission and 225,000 miles on it. The transmission will not consistently shift to drive. Some times -- if I'm lucky -- I can shift to drive. But then I can't shift to park or reverse. I'm wondering what's causing this problem.

--Juan

A: Juan, I'm wondering if you may have a cable-linkage fault ...Read more

Mark Phelan: High octane gas coming — but you'll pay more for it

Business / Business News /

Automakers and oil companies are quietly developing a new generation of fuels and engines that together will generate more power from less gasoline, reducing emissions and boosting fuel economy.

But industry executives are reluctant to talk publicly about their research.

Why so quiet?

Because no company wants to be the poster child for higher...Read more

The Week Ahead: Fed talk of tightening up and winding down

Business / Business News /

The Federal Reserve has made no secret of its desire to tighten credit. OK, no one at the Fed would claim it wants to make borrowing more expensive. Instead, central bankers talk about removing accommodation. Over the past 15 months, the agency has hiked its short-term target interest rate three times as it works to bring the rate closer to what...Read more

Farms caught in Canadian trade dispute find buyers for their milk

Business / Business News /

MILWAUKEE -- Just days before they might have had to close, most of the Wisconsin dairy farms caught up in a trade dispute with Canada have found buyers for their milk, enabling them to stay in business.

At risk had been some 58 farms ranging in size from 80 to 3,000 cows.

Grassland Dairy Products of Greenwood, Wis., said it would stop buying ...Read more

Microsoft's profit climbs 28 percent with shift to web-based software

Business / Business News /

SEATTLE -- Microsoft reported a jump in quarterly earnings on Thursday, reflecting continued progress in the company's shift toward web-based business software.

Revenue during the three months that ended March 31 was up 8 percent from a year earlier, and net income surged 28 percent, as the company boosted sales of its profitable package of on-...Read more

Southwest Airlines will stop overbooking flights after United dragging

Business / Business News /

FORT WORTH, Texas -- Southwest Airlines said it will stop overbooking flights sometime in the next quarter, partly in response to the United Airlines dragging incident two weeks ago.

Chief Executive Officer Gary Kelly said the Dallas-based airline hasn't been overbooking much recently because more customers have been showing up for their ...Read more

Starbucks falls short of revenue forecast but earns record second-quarter profit

Business / Business News /

SEATTLE -- Starbucks shares were down 3 percent in after-hours trading Thursday following second-quarter earnings that showed flat same-store sales growth in the U.S. and revenue that didn't meet Wall Street expectations.

For the quarter that ended April 2, sales growth at stores open at least a year was 3 percent both globally and in the U.S. ...Read more

Under Armour posts its first quarterly loss, but stock soars

Business / Business News /

BALTIMORE -- After years of rapid growth, Under Armour has no plans this year to jump into new businesses or look for new U.S. retail partners to sell its products. Instead, this is a year to step back and reset.

That message, delivered Thursday by Under Armour CEO Kevin Plank, came as the Baltimore-based brand announced its first quarterly ...Read more

Dragged passenger reaches settlement with United Airlines

Business / Business News /

CHICAGO -- United Airlines has reached a settlement agreement with the passenger who was bloodied and dragged down the aisle of a plane after refusing to give up his seat, attorneys for the passenger said Thursday.

Dr. David Dao, 69, of Elizabethtown, Ky., suffered a concussion, broken nose and sinus injury during the April 9 incident on a ...Read more

NBCUniversal CEO Steve Burke says he's optimistic a writers' strike can be averted

Business / Business News /

NBCUniversal Chief Executive Steve Burke waded into the delicate topic of a looming writers' strike Thursday.

The Writers Guild of America has received a strike authorization vote from members who are just days from a possible walkout that would disrupt TV and film productions nationwide. That prospect has raised concern on Wall Street about ...Read more

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