Minority- and women-owned businesses miss out on NYC contracts, report finds

Business / Business News /

New York City is letting down its minority- and women-owned businesses, according to a new report from Comptroller Scott Stringer’s office.

A paltry 3.8% of city contracts were awarded to such businesses, known as MWBEs, in the fiscal year that ended June 30, the study found.

Stringer gave the city a grade of “C-” on its job of sending ...Read more

Mandi Wright/Detroit Free Press/TNS

GM lawsuit against Fiat Chrysler dismissed by Michigan court

Business / Business News /

A Michigan judge dismissed General Motors Co.’s lawsuit that accused Fiat Chrysler of bribing union officials to reach an advantageous labor deal that ultimately hurt GM’s competitive position in its own 2015 bargaining agreement.

“Even the most enthralling drama must eventually reach a conclusion,” David Allen, a Circuit Court judge in...Read more

Frederic J. Brown/AFP/Getty Images North America/TNS

Is your car still stuck in the shop? Blame shortage of spare parts

Business / Business News /

The world’s supply chain woes are bearing down on U.S. auto garages.

The challenge of finding spare parts as mundane as oil filters or carpeting has forced repair shops to hoard inventory, find workarounds and plead with customers for patience until a shipment comes in. Typical delays of a day or two have stretched into weeks in some cases, ...Read more

Myung J. Chun/Los Angeles Times/TNS

Hollywood crews union reaches a deal with studios, averting a strike

Business / Business News /

LOS ANGELES — The union representing Hollywood crews has reached an agreement on a new contract with the major studios, avoiding a historic strike that would have disrupted film and TV production nationwide.

The International Alliance of Theatrical Stage Employees and the Alliance of Motion Picture and Television Producers have concluded an ...Read more

Nick Otto/AFP/Getty Images North America/TNS

Theranos trial: Elizabeth Holmes hired her brother, who hired his college pals

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SAN JOSE, Calif. — Theranos founder Elizabeth Holmes’ brother Christian, whom she brought in as a senior manager at her blood-testing startup, in turn hired a crew of his college friends, one of those friends testified Friday at Holmes’ criminal fraud trial.

Daniel Edlin told the jury that he and five other pals of Christian Holmes from ...Read more

Eric Seals/Detroit Free Press/TNS

GM reinventing Cadillac brand with new financing arm

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General Motors' luxury brand Cadillac will soon get its own financing arm for customers as it continues to head toward a future of all-electric vehicles.

Cadillac Financial, an arm of GM Financial, is expected to launch around the middle of next year, Cadillac spokesman Michael Albano said Friday and as was reported earlier this week by ...Read more


Five workers at a Dollar General in Connecticut will vote on unionization. Discount retailer posted $2.7 billion in profit last year

Business / Business News /

Five employees at a Dollar General store in Barkhamsted, Connecticut, are taking a stand against the national retailer, voting next Friday on whether to be represented by a union.

Angry about wages, paid time off and other issues, the store’s nonmanagement workforce — down from six a week ago when one worker says he was fired — are among ...Read more

Eric Seals, Detroit Free Press/Detroit Free Press/TNS

Detroit 3 mandate vaccine for Canada workforce, considering for US

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The Detroit Three automakers are requiring that all hourly and salaried workers in Canada be vaccinated against COVID-19, but they are not requiring the same of the U.S. workforce — although discussions about the possibility are happening.

General Motors, Ford Motor Co. and Stellantis, formerly called Fiat Chrysler Automobiles, reiterated ...Read more

Ryan Garza/Detroit Free Press/TNS

Susan Tompor: You may be surprised by cuts in October child tax credit

Business / Business News /

It's time to check the mailbox and bank account for extra cash from the October child tax credit that rolled out Friday.

Many parents saw the money hit their accounts as expected just like it arrived for the past three months.

But no, unfortunately, it looks like it won't be smooth sailing for everyone. As has happened in the past, some ...Read more

Spencer Platt/Getty Images North America/TNS

Consumer sentiment in US falls to second-lowest since 2011

Business / Business News /

U.S. consumer sentiment fell unexpectedly in early October to the second-lowest level since 2011, as Americans grew more concerned about both current conditions and the economic outlook.

The University of Michigan’s preliminary sentiment index fell to 71.4 from 72.8 in September, data released Friday showed. The figure came in below the ...Read more

US Senators to introduce antitrust legislation after reports say Amazon's marketplace is unfair to sellers

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A bipartisan group of U.S. senators announced Thursday they were introducing additional legislation targeting platforms like Amazon's marketplace amid news reports that say Amazon swipes product information from sellers to bolster its own brands, then favors those Amazon-branded products in search results.

The lawmakers, including Sens. Amy ...Read more


Ford's China sales also hit by chip shortage in third quarter

Business / Business News /

Ford Motor Co. saw its China sales decrease 8.7% year over year in the third quarter, the automaker said Friday.

The drop was a result of the ongoing challenges Ford and other automakers face with the semiconductor shortage, as well as flooding in central China in July and restrictions related to the COVID-19 pandemic.

Overall, Ford reported ...Read more

Mel Melcon/Los Angeles Times/TNS

How one toy store found a way to avoid a supply chain nightmare before Christmas

Business / Business News /

If everyone's holiday gifts are stuck on a ship somewhere, then why isn't toy store owner Don Kipper worried?

Kipper and daughter Lily run Kip's Toyland, billed as Los Angeles' oldest toy store, and Kipper the elder contends he really isn't fretting over massive global supply chain problems that have left both small merchants and big-box ...Read more

Susan Stocker/Sun Sentinel/TNS

The cruise industry says it's safer than other vacations. We talked to COVID experts

Business / Business News /

When the pandemic hit in the spring of 2020, there was practically no worse place to be than a cruise ship. Today, as COVID-19 still lingers around the world, cruise industry leaders are making a bold claim: Cruising is not only safe, but it’s safer than other kinds of travel and vacations.

Public health experts consulted by the Miami Herald...Read more


Auto review: The 2022 Toyota Tundra is the first truly competitive Japanese full-size pickup

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SAN ANTONIO, Texas — After 22 years and two generations (not counting the T100, a full-sized truck Toyota produced for eight years before the Tundra), Toyota has finally produced a pickup that can challenge its rivals: the new 2022 Toyota Tundra. It’s a wonder that it’s taken so long, but execs say it’s due to the company’s desire to ...Read more


Auto review: 2021 RAV4 Prime: Saving energy with style -- and speed

Business / Business News /

What's most stunning about the 2021 Toyota RAV4 Prime, a sporty plug-in hybrid, is not the exceptional mileage figures or the good looks.

It's the giddy-up: This thing sprints to 60 mph in just 5.5 seconds. That ranks second in the Toyota lineup only to the Supra, which races to 60 mph in 4 seconds flat. The Prime, for the record, is not a ...Read more

Ford Motor Co./Ford Motor Co./TNS

Auto review: Mach-E GT flexes good ol' Mustang muscle

Business / Business News /

San Francisco — Hustling over California’s twisted two-lane Pacific Coast Highway in a Mustang GT, I suddenly came upon a three-car moving road block. I flattened the right pedal. ZOT! The GT gulped the trio like a killer whale feeding on fish.

No downshift, no V-8 roar, no rear tail wag.

Say hello (and a quick wave goodbye as it ...Read more

Carolyn Cole/Los Angeles Times

The Week Ahead: Why boats and bottom lines matter for investors in the week ahead

Business / Business News /

Investors will be listening to corporate financial results as the markets keep an eye on the waters off the coast of Southern California in the week ahead.

The big boats lined up for miles offshore the ports of Long Beach and Los Angeles will make an impact on the bottom line of lots of companies. The backlog of international cargo vessels is ...Read more


'Part science, part art, part luck': NASA's Lucy spacecraft set to launch Saturday to explore 7 Trojan asteroids

Business / Business News /

Hoping to piece together the history of the solar system, NASA is set to embark on one of its most ambitious missions: Lucy, a 12-year journey to observe the primitive asteroids trapped in Jupiter’s path around the sun.

NASA will attempt to launch the probe from Cape Canaveral Space Force Station’s pad 41 on Saturday between 5:34 a.m. and 6...Read more

Erika Schultz/Seattle Times/TNS

'All hands on deck' at Seattle and Tacoma ports as supply chain bottlenecks persist

Business / Business News /

Seattle and Tacoma port authorities said Wednesday it's "all hands on deck" as they work to address cargo ship congestion in Puget Sound.

"We are seeing unprecedented times in the global supply chain," said John Wolfe, CEO of The Northwest Seaport Alliance, which oversees container traffic for both the Port of Seattle and Port of Tacoma.

Wolfe...Read more