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Electric truck startup Rivian gives a sneak peek of its future: Sleek vehicles, a reborn factory and thousands of jobs

Business / Business News /

NORMAL, Ill. -- Rivian is still a year away from rolling its first electric trucks off the line at a converted Mitsubishi plant in Normal, but for thousands of residents, customers and job seekers, the future is beginning to seem a little bit closer.

A large crowd of curious locals attended the startup automaker's festive open house Sunday in ...Read more

Netflix scores new subscribers on eve of Disney+, Apple TV+ launches

Business / Business News /

Netflix got back on track with regards to its subscribers in the United States during the third quarter as it saw a gain in members just as Disney and Apple are set to launch their own high-profile streaming TV services.

After U.S. stock markets closed Wednesday, Los Gatos-based Netflix said it added 6.77 million paid members in quarter that ...Read more

A-B InBev business could launch CBD-infused beverage in Canada this year

Business / Business News /

A business of Anheuser-Busch InBev is nearly ready to bring cannabis-infused drinks to the Canadian market.

The announcement was made by Fluent Beverage Company, a joint venture between A-B InBev and Tilray, a company that researches, cultivates and distributes cannabis.

Fluent said it intends to have CBD-infused beverages available for sale ...Read more

With interest rates falling, U.S. Bank leans on noninterest businesses for growth

Business / Business News /

As interest rates fell this summer, U.S. Bancorp relied more heavily on fees and other noninterest income to produce a 5% jump in profit.

The Minneapolis-based company, which operates the nation's fifth-largest bank, beat investor expectations with solid increases in revenue and profit for the third quarter. Noninterest revenue grew more ...Read more

Consumer Confidential: Yahoo offers data breach victims up to $358 each in settlement. But don't bank on it

Business / Business News /

You have every right to be skeptical as another big company -- this time it's Yahoo -- says you can claim some cash to make amends for a massive data breach.

Credit agency Equifax was accused of a bait and switch after it offered $125 or free credit monitoring to all those affected by its own sloppy data practices, which resulted in hackers ...Read more

Should Uber and Lyft drivers earn $30 per hour? Los Angeles will study a minimum wage

Business / Business News /

LOS ANGELES -- Los Angeles lawmakers on Tuesday took the first step toward a minimum wage for tens of thousands of Uber and Lyft drivers, approving a study of how the law would work and how it would be enforced.

The City Council also requested an independent study of how much Uber and Lyft drivers earn in L.A., and how much they spend on gas, ...Read more

GM, UAW reach proposed tentative agreement on 31st day of strike

Business / Business News /

DETROIT -- General Motors and the UAW reached a proposed tentative agreement on a new contract Wednesday, the 31st day of a nationwide strike.

The autoworkers walked off the job at 12:01 a.m. Sept. 16, launching the union's first nationwide strike in 12 years. Their four-year contract had expired at midnight Sept. 14.

Autoworkers were bitter ...Read more

Google Pay teams with Cubic so transit riders can pay fares with Android phones

Business / Business News /

Cubic Corp., which makes fare collection technology for some of the world's largest public transit agencies, is working with Google to make it easier for riders to use their Android smartphones to pay for fares.

Cubic is collaborating with Google to add transit cards to the Google Pay platform, allowing unbanked riders, youth and others without...Read more

How this 31-year-old Pacific Beach surfer makes millions selling sunglasses

Business / Business News /

SAN DIEGO -- Chase Fisher looks like your typical Pacific Beach bro. The 31-year-old surfer is tanned and freckled, his hair gelled back to give that permanent ocean-wet vibe. With bright-colored shades slung around his neck, he looks more like a DJ than a retail entrepreneur.

But Fisher is the sole owner of Blenders, a rapidly growing sunglass...Read more

SpaceX seeks permission to launch 30,000 more satellites

Business / Business News /

SpaceX has bet its future on a network of small satellites that could beam the internet down to Earth. This month, the company's plans got a whole lot bigger.

Hawthorne, Calif.-based SpaceX has requested permission from an international regulatory group to operate as many as 30,000 satellites at a specific frequency, power level and location in...Read more

Exelon Utilities CEO Anne Pramaggiore abruptly retires amid federal probe into Illinois lobbying

Business / Business News /

Exelon Utilities CEO Anne Pramaggiore abruptly retired Tuesday amid a wide-ranging federal investigation that includes the company's lobbying activities at the Illinois State Capitol.

The announcement of Pramaggiore's retirement came less than a week after Exelon and ComEd acknowledged they had received a second subpoena in the probe. ...Read more

Tech Q&A: The rush is on to upgrade Windows 7 by January

Business / Business News /

There is nothing like a deadline to get millions of PC owners moving.

Windows 7 users face a Jan. 14 deadline for the end of Microsoft security updates and need to move to Windows 10 or risk being hacked.

There are still an estimated 300 million Windows 7 users worldwide. Corporate users can buy Windows 7 security updates for three more years....Read more

After 30 days, GM-UAW talks suddenly face a deadline

Business / Business News /

The clock is ticking for General Motors executives to reach a proposed tentative agreement with the UAW, people close to the talks said Tuesday.

The union's move to summon its National GM Council to Detroit for a meeting Thursday morning was a pressure tactic to prompt GM leaders to reach a deal acceptable to the UAW, said three people familiar...Read more

Carla Fried: Planning to work longer? Here's a reality check and a strategy for success

Business / Business News /

Americans who face 401(k) and IRA account balances that likely won't generate nearly enough money to live on comfortably have decided they'll just keep working.

More than one third of pre-retirees surveyed by the Employee Benefit Research Institute say their plan is to keep working until at least age 70; 45% are setting their sights on retiring...Read more

Halkbank charged in US indictment with fraud, laundering

Business / Business News /

NEW YORK -- U.S. prosecutors filed criminal charges against Turkey's Halkbank, accusing it of fraud, money laundering and violating U.S. sanctions against Iran, in a case that Turkish President Recep Tayyip Erdogan had pressed both President Donald Trump and President Barack Obama to dismiss.

Prosecutors accused the bank of participating in a ...Read more

Help wanted: Too many jobs and not enough workers in most states

Business / Business News /

A labor shortage is jeopardizing economic expansion in almost every state, putting pressure on lawmakers to find ways to attract more residents and coax people who have dropped out of the workforce to rejoin it.

States are offering financial incentives to entice prodigal natives to move home and raise families. They're also reaching out to ...Read more

UnitedHealth Group shares jump more than 5% on strong earnings, guidance

Business / Business News /

Shares of UnitedHealth Group jumped more than 5% in early trading Tuesday after the company reported third quarter results that beat expectations for profit and revenue while putting a focus on the company's expanding business running outpatient medical centers.

David Wichmann, the UnitedHealth Group chief executive, told investors during a ...Read more

Wells Fargo details big drop in profits in first earnings report since new CEO named

Business / Business News /

A little over two weeks after choosing its new CEO, Wells Fargo announced its third quarter earnings for 2019 on Tuesday, where profits slipped.

The bank reported a net income of $4.6 billion -- down from $6 billion this time last year. That's a 23% drop.

And it's revenue of $22 billion saw modest growth from 2018's third quarter revenue of $...Read more

Detroit TV station owner under fire for meme sent to African American pastor

Business / Business News /

DETROIT -- A meme seen as racially offensive that was sent last month to an African American minister by the white owner of a religious TV station aimed at black audiences has sparked controversy, with the Detroit chapter of the National Association of Black Journalists condemning it Monday and calling for a boycott of the media outlet.

But the...Read more

Liz Reyer: In uncertain times, senior leaders can't hoard information

Business / Business News /

Q: I'm not sure what's up with my team. We have a lot of ambiguity in our company, and I'm using what I consider to be a leadership best practice of keeping the unknowns to myself so that the team won't be stressed. But I'm getting challenged by them for leaving them in the dark and making decisions without their input. How can I get them on ...Read more