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Zuckerberg asks Harvard grads to fight isolationism, nationalism

Business / Business News /

SAN FRANCISCO -- Facebook chief executive Mark Zuckerberg told Harvard graduates Thursday that they need to help others find purpose in a world where machines are taking away steady jobs and communities aren't as stable, leading to isolation and nationalism instead of people coming together globally to solve problems.

"When our parents ...Read more

Wells Fargo must guarantee class-action settlement will fully repay customers, judge says

Business / Business News /

Wells Fargo & Co. may have to cough up more than $142 million to settle a bevvy of class-action lawsuits in connection with its unauthorized-accounts scandal.

A federal judge in San Francisco said late Wednesday that he would approve a settlement deal reached by the bank and plaintiffs' attorneys but only if they agree to several conditions, ...Read more

Costco posts healthy quarterly results

Business / Business News /

SEATTLE -- Costco shares were up about 2 percent in after-hours trading Thursday after the warehouse giant reported third-quarter earnings that beat Wall Street expectations and showed solid increases in same-store sales.

Costco's earnings per share for the quarter that ended May 7 were $1.59, up 28 percent from the same quarter a year ago.

...Read more

Best Buy stock soars after better-than-expected earnings

Business / Business News /

MINNEAPOLIS -- Best Buy's shares surged 20 percent by midday Thursday and were on pace to hit an all-time high, signifying just how impressed investors were that the retailer was able to find sales growth amid an otherwise gloomy retail landscape.

Higher sales in gaming amid the launch of the Nintendo Switch and sales that improved once delayed...Read more

Rocket Lab's Electron rocket reaches space, but not orbit, in first test flight

Business / Business News /

LOS ANGELES -- Small-satellite launch company Rocket Lab said its Electron rocket made it to space but did not reach orbit in its first test flight, as the Huntington Beach firm and other small-rocket startups inch closer to commercial operations.

The Electron rocket lifted off at 9:20 p.m. Pacific time Wednesday from Rocket Lab's private ...Read more

Ford swiftly follows CEO switch with further leadership restructuring

Business / Business News /

DETROIT -- Days after introducing a new CEO, Ford Motor Co. announced a new leadership team.

In a news release Thursday morning, new CEO Jim Hackett described the changes as showing the company's efforts to, among other things, speed up decision-making.

"The leadership changes we are announcing today across our global business are important as...Read more

The Mortgage Professor: Future income replenishment with a reverse mortgage

Business / Business News /

The more I work with home equity conversion mortgages -- reverse mortgages offered through the Federal Housing Administration -- the more convinced I become that the HECM is the most underutilized financial tool available to consumers in the U.S. Among the important reasons for underutilization is that HECMs are more complicated than any other ...Read more

Consumer Confidential: How to tell if a psychic is more interested in cash than clairvoyance

Business / Business News /

Joyce Senfe was distraught when her husband walked out after 56 years of marriage. She was desperate to know if he'd return.

So she went online and did a search for "Christian psychic." That's how Senfe, who lives in Brooksville, Fla., ended up on the phone recently with Los Angeles-based Psychic Readings by Lauren.

"Lauren was very ...Read more

Real estate Q&A: Condo building's insurance policy may not cover individual units

Business / Business News /

Q: With hurricane season right around the corner, I am concerned about insurance for my beachfront condo. Who is responsible for fixing or replacing the building? And if my unit did get damaged, would I still have to pay the mortgage if I'm not able to live there during repairs?

-- Alex

A: Reach out to your community's management and see what ...Read more

US steelmakers voice support for Trump administration review of imports

Business / Business News /

The Trump administration's investigation into whether imported steel threatens national security was enthusiastically greeted Wednesday by U.S. steelmakers, who said the best way to ensure the vitality of their industry is through a comprehensive approach to curbing unfairly traded imports.

But others who testified at a U.S. Department of ...Read more

What passenger-dragging incident? United gets no queries at annual meeting

Business / Business News /

CHICAGO -- United Airlines CEO Oscar Munoz said Wednesday he wants the fallout from an incident where a passenger was dragged from a flight last month to be "a constant reminder of what we can do better on."

Videos of the passenger, Dr. David Dao, being pulled from a plane at Chicago's O'Hare International Airport after refusing to give up his ...Read more

Fed officials appear ready for another interest rate hike and are considering how to reduce assets

Business / Business News /

WASHINGTON -- Most Federal Reserve monetary policymakers indicated they were ready for another small interest rate hike -- perhaps as soon as next month -- if economic data strengthened as expected following a weak winter, according to an account released Wednesday of their most recent meeting.

Fed officials also considered a plan to start ...Read more

Fox News moves to dismiss lawsuit by former on-air host Andrea Tantaros

Business / Business News /

LOS ANGELES -- Fox News is seeking the dismissal of a lawsuit by former on-air personality Andrea Tantaros that claims the company hacked her computer and conducted surveillance of her phone calls and emails.

In a motion filed Wednesday in U.S. District Court, Fox News said Tantaros' allegations that fake Twitter accounts were set up to harass ...Read more

Here's one tally of the losses from WannaCry cyberattack

Business / Business News /

WASHINGTON -- A digital worm powered by stolen National Security Agency software caused $1 billion in damages when it infected hundreds of thousands of computers in less than a week, a Florida digital security company says. And new attacks may be in the offing.

Hackers unleashed the worm, dubbed WannaCry, on May 12. Some 200,000 to 300,000 ...Read more

Lowe's disappoints despite improved economy, focus on pro customers

Business / Business News /

CHARLOTTE, N.C. -- Shares of Lowe's Cos. plunged as much as 7 percent in early trading Wednesday as the home improvement retailer reported first-quarter earnings and sales that fell below Wall Street expectations.

Lowe's disappointing results come at a time when it has been working to catch up to its larger rival, Home Depot, which reported ...Read more

McDonald's shareholder meeting brings roar of protests but few surprises

Business / Business News /

CHICAGO -- McDonald's annual shareholder meeting Wednesday attracted hoards of protesters outside the burger giant's suburban Chicago headquarters. Inside, though, the meeting produced few surprises.

According to preliminary voting results, all the proposals put forth by shareholders failed, including requests to put a franchisee on McDonald's ...Read more

Tech Q&A: Streaming TV and the need for speed

Business / Business News /

Q: I'm thinking about dropping cable TV but keeping cable internet service for streaming TV.

Right now, the speed of my Comcast Xfinity X1 Triple Play internet service is 87 megabits.

That's enough to support a mesh Wi-Fi system, in which three Eero Wi-Fi devices create a single wireless network throughout my home, as well as three wired ...Read more

Retailers can't move fast enough to chase shoppers online

Business / Business News /

PITTSBURGH -- The idea of spending a leisurely few hours of the weekend at the mall -- browsing aisles for a new pair of jeans and shoes and hitting the food court -- is going out of style.

The latest in a growing list of retail casualties, mall-staple and teen apparel company rue21 Inc. filed for Chapter 11 bankruptcy reorganization last week,...Read more

Jennifer Van Grove: Cocktail time? App sends a bartender at your behest

Business / Business News /

While most people won't find themselves in the position of needing to secure a bartender on short notice, those who do can turn to on-demand alcohol delivery company Saucey to send one straight away.

This week, the startup added push-button bartender service to its inventory, meaning amateur party planners or corporate hosts can book a ...Read more

Retirement adviser rule will go into partial effect, but changes are still possible

Business / Business News /

WASHINGTON -- A controversial Obama-era rule for retirement advisers, delayed by a review ordered by President Trump because of strong Republican and financial industry opposition, will partially take effect next month, Labor Secretary Alexander Acosta said.

But Acosta indicated that he has problems with the rule and that there still could be ...Read more

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