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Carla Fried: Experts expect international stocks to outperform US shares in 2020s

Business / Business News /

When it comes to investing, we're all prone to home bias, the habit of preferring U.S. stocks over international stocks. It's an easy habit to pick up -- and justify -- given that the combined value of U.S. firms dominates the global marketplace. According to the World Bank, the value of publicly traded U.S. stocks at the end of 2018 was around ...Read more

Carla Fried: Yes, retirees pay taxes — here's how to avoid some

Business / Business News /

For decades, 401(k) plans came in one flavor: so-called traditional, where contributions are made with pre-tax dollars and eventual withdrawals are taxed as ordinary income. Now, most 401(k) plans offer employees the option of saving in a Roth 401(k) -- no upfront tax break, but withdrawals are 100% tax-free in retirement.

Most savers are ...Read more

Martin Shkreli sued over alleged antitrust violation in drug pricing

Business / Business News /

NEW YORK -- Convicted "Pharma Bro" Martin Shkreli was sued by federal officials and the state of New York for allegedly violating antitrust law when he jacked up the price of a crucial drug by 4,000% overnight in 2015.

The lawsuit was filed Monday in federal court in Manhattan by the Federal Trade Commission and New York Attorney General ...Read more

True blood? In the shadow of Theranos, Truvian revives dream of low-cost blood tests

Business / Business News /

San Diego life sciences executive Jeff Hawkins is trying to bring credibility back to field rocked by scandal.

A former Illumina vice president, Hawkins heads startup Truvian Sciences. The 5-year-old company is developing a compact blood testing machine that promises to deliver 40 standard health and wellness screening results in about 20 ...Read more

Bar Louie gastropub chain files for bankruptcy amid closings

Business / Business News /

Bar Louie, the Texas-based gastropub chain founded in Chicago 30 years ago, has filed for Chapter 11 bankruptcy protection and closed more than a third of its corporate-owned locations.

Thirty-eight corporate-owned locations that were closed over the weekend due to "accelerating" sales declines. The chain, which had grown to 134 locations in 26...Read more

The 8-year project to dismantle California's San Onofre nuclear plant is about to begin

Business / Business News /

Seven years after the San Onofre Nuclear Generating Station officially went offline, the eight-year process of physically dismantling the plant and knocking down the domes that have loomed over the landscape of Camp Pendleton for four decades is about to begin.

The plant's operator, Southern California Edison, has mailed notices to about 12,000...Read more

Erin Arvedlund: Vanguard's Total Stock Market Index Fund closing in on $1 trillion. Yup, that's 12 zeroes

Business / Business News /

A trillion dollars: That's how much money was invested in Vanguard's Total Stock Market Index Fund at the end of December.

The largest mutual fund by assets is just over $60 billion shy of crossing the trillion-dollar line across all share classes, which sounds like a long way off -- but it's not. The fund's year-end assets totaled $938 billion...Read more

To hawk products, Meghan Markle should look to Angelina Jolie's perfume example, royal expert says

Business / Business News /

Meghan Markle and Prince Harry face a great deal of uncertainty about their future, but also a literal wealth of opportunities.

Will they actually settle down in Canada, or could they decide that Los Angeles is a better base for their new non-royal careers? And speaking of their careers, how will they earn a living? Could it be through ...Read more

She fractured her spine after the car ran a red light. Uber said she signed away her rights to a jury trial

Business / Business News /

PHILADELPHIA -- When you download Uber's app, you agree that you're older than 18, that you're not using a stolen credit card to pay your driver, and -- if you're like one Philadelphia woman and fracture your spine in a car crash -- that you won't seek a jury trial against the ride-share giant.

But, a Philadelphia Common Pleas Court judge has ...Read more

Susan Tompor: Latest tax scam holds your info for ransom. Here's how to spot it and other fraud

Business / Business News /

Most of us find it nerve-racking enough that we're forced to focus on gathering our piles of paperwork to fill out our tax returns.

Now adding to our stress, we must watch out for tax season scam artists, too. The crooks are everywhere from the gym parking lot to the latest emails and text messages.

A new trend: Expect an increase in ...Read more

Bio-methane from cow manure could be a “new gold rush” on the farm

Business / Business News /

The back end of a cow generates 80 pounds each day of what Dennis Haubenschild, who owns 750 of them near Princeton, Minn., refers to as a "non-depletable renewable resource."

Now, technology and policy are aligning for farmers to take advantage of all that manure in a surprising way -- by turning it into gas that can fuel vehicles.

...Read more

GM commits to $2.2 billion investment and 2,200 jobs at Detroit-Hamtramck Assembly

Business / Business News /

DETROIT -- General Motors is investing $2.2 billion in its Detroit-Hamtramck Assembly plant to make it a state-of-the-art facility building electric and self-driving cars.

The automaker said Monday the plant will provide 2,200 jobs as it shifts to become the company's first all-electric vehicle plant.

"This will be General Motors' most ...Read more

Hemp prices plunge as CBD demand falls short

Business / Business News /

NEW YORK -- It may not be apparent when you're spending $70 on CBD foot cream, but hemp prices are plunging amid a "grossly oversupplied" market, according to the head of the industry's first price provider.

Hemp biomass prices reached a high of over $40 a pound in July, just before the 2019 harvest came in, according to PanXchange Chief ...Read more

Kobe Bryant built a business empire extending far beyond basketball

Business / Business News /

LOS ANGELES -- In the twilight of Kobe Bryant's career with the Los Angeles Lakers, the 18-time All-Star shared a vision with billionaire Chris Sacca: When his time in basketball ended, he would become an investor.

"To the shock of a couple other people sitting with us, I replied, 'Kobe, I'm sorry, but I just don't take you that seriously,' " ...Read more

Boeing's massive 777X takes off on first flight

Business / Business News /

EVERETT, Wash. -- Boeing's big 777X took off Saturday at 10:09 a.m. and headed northward through low clouds on a first flight that lasted nearly four hours.

It was an understated event, with many fewer than the 8,000 Boeing employees and others who gathered Friday in lashing wind and rain as Boeing waited hours before postponing its initial ...Read more

Which college degrees earn grads more than $1 million? Maybe not ones from fancy liberal arts colleges and large state universities

Business / Business News /

La Salle University wasted no time jumping on higher education's hottest new metric: earnings after graduation.

Around Philadelphia, La Salle's billboards plaster local highways, advertising that its grads rank in the top 4% for 10-year mid-career earnings.

"We beat out research-intensive universities (and) elite Ivy League liberal arts ...Read more

Delta Air Lines fined $50,000 by government for alleged discrimination

Business / Business News /

ATLANTA -- The U.S. Department of Transportation is fining Delta Air Lines $50,000 for alleged discrimination against Muslim passengers in two separate incidents in 2016.

Atlanta-based Delta disagrees with the DOT's contention that it engaged in discriminatory conduct, according to a DOT consent order issued Friday.

The consent order comes ...Read more

Job growth in California accelerates, even as it slows nationally

Business / Business News /

Job growth slowed nationwide last year, but it accelerated in California as the state notched a record 118-month employment expansion.

California's unemployment rate held steady at its record low of 3.9% in December, the same as in November and down from 4.1% a year earlier. The nation's unemployment rate also remained unchanged in December, ...Read more

Couple plead guilty in massive Ponzi scheme, agree to give up cash, winery, island home

Business / Business News /

A husband and wife team pleaded guilty in federal court Friday to charges they masterminded a Ponzi scheme that cost investors $1 billion and resulted in the largest forfeiture of assets in the history of the Sacramento-based Eastern District of California.

Jeff and Paulette Carpoff, owners of the defunct DC Solar Solutions company based in ...Read more

3M boosts production of facemasks as coronavirus spreads in China

Business / Business News /

3M has dramatically boosted production of its facemasks in at least two of its Chinese factories after Chinese news agencies reported that the plants ran out of stock in response to the sudden rise of a deadly Coronavirus in Wuhan, China.

3M officials would not confirm that they ran out of stock.

The Minnesota-based giant, however, said its ...Read more