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Some Shipt workers plan to walk out because of changed payment model

Business / Business News /

Shipt workers in metro areas across the country plan to "walk off" their grocery delivery jobs on Wednesday after the company announced pay structure changes that some say could dramatically reduce how much money they earn.

Shipt -- which is owned by Minneapolis-based Target and handles its deliveries -- said Monday that it e-mailed workers in ...Read more

Ford just revealed 2021 Bronco: Why this new model is different

Business / Business News /

DETROIT -- The Ford Bronco, an iconic American off-roader, has re-emerged after a 24-year absence with its public debut Monday evening in a series of 3-minute stories created to run on three leading Disney-owned TV channels and YouTube.

Fast Company magazine called the unique strategy "audacious."

The theme: Celebrate adventure, live life and ...Read more

1,250 workers facing layoffs at GM's Wentzville Assembly Plant

Business / Business News /

General Motors will lay off its third shift of workers at the assembly plant where it builds its midsize pickups and full-size vans as cases of coronavirus surge in the surrounding community.

The automaker said starting July 20 it will reduce its Wentzville Assembly plant, which is near St. Louis, Mo., to two shifts.

"We believe in the short ...Read more

Vanguard's partnership profits were paid out early to employees during pandemic

Business / Business News /

The low-cost mutual fund provider Vanguard is immensely profitable.

The private, for-profit company earns millions of dollars in fees each year and pays income taxes. And for senior executives and others at Vanguard, there's a closely watched compensation program called "Partnership Plan" paid out every year.

The Partnership Plan is Vanguard's...Read more

Podcast industry growth forecasted to drop by half amid coronavirus pandemic

Business / Business News /

An annual study of the U.S. podcasting industry halved its growth forecasts as companies pulled or paused advertising campaigns in the wake of the coronavirus outbreak.

The exploding audio medium is forecast to generate nearly $1 billion in 2020 advertising revenue, with an expected growth rate of 14.7%, according to the fourth annual ...Read more

3M says it's on track with N95 production goals

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3M says it's hit midyear goals for increasing U.S. respirator output as a new production line recently opened at one of the company's Wisconsin factories.

The N95 respirators are vital for protecting health care workers from COVID-19, and with sharply rising demand, they're boosting 3M's sales in an otherwise dismal year for manufacturers.

The...Read more

SiriusXM to buy Stitcher for up to $325 million in largest podcast deal yet

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SiriusXM confirmed Monday it will acquire podcasting company Stitcher for up to $325 million in the industry's largest podcasting deal yet.

The acquisition will give the satellite radio giant, home of such programs as the "The Howard Stern Show," a greater foothold in podcasting. The company said it would pay $265 million in cash for Stitcher ...Read more

Chatham wins auction to buy McClatchy, will seek final approval from bankruptcy court

Business / Business News /

Chatham Asset Management, the New Jersey hedge fund that is McClatchy Co.'s largest creditor, has won an auction to buy the bankrupt local news company.

Under the proposed deal that will be submitted to the bankruptcy court for approval, Chatham would buy the entire company, McClatchy said Sunday.

"As long-standing supportive investors in ...Read more

Apple taps first $400 million of $2.5 billion California housing pledge

Business / Business News /

Making a down payment on its housing pledge, Apple announced Monday it has committed $400 million to affordable housing projects this year across California, including immediate assistance for struggling Bay Area tenants and four, new low-income projects across the region.

The short-term aid and construction projects mark the first installment ...Read more

At gaming giant Ubisoft, major executive changes after allegations of harassment, misconduct

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Ubisoft, the publisher behind video game brands such as "Assassin's Creed," "Watch Dogs," "Far Cry" and "Just Dance," revealed Saturday that a number of top executives would be stepping down from the company. The changes come after Ubisoft was accused of an array of sexual and workplace misconduct, which had already resulted in a resignation and...Read more

Factory jobs catch bounce from PPE manufacturing

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As factories start bringing back workers laid off at the beginning of the pandemic, some are retooling to meet coronavirus-related demands.

Designetics, a firm near Toledo, Ohio, that makes windshield coating systems, now has about half its 73 workers trained to make custom protective barriers to prevent coronavirus transmission.

The switch ...Read more

China renews push for increased global role for the yuan

Business / Business News /

Faced with the prospect of restricted access to U.S. dollars, China's answer is to get more people to use its own currency instead.

The increasing spillover of Sino-American tensions into the financial sphere has ignited a fresh push by China to promote the global use of the yuan. A growing number of government officials and influential market ...Read more

Americans' aversion to mask-wearing is holding back the economy

Business / Business News /

The aversion of many Americans to wearing a thin piece of cloth across their faces is restraining an already-shaky economic rebound.

In Texas, the second most-populous state and a hotspot of the resurgent COVID-19, Republican Gov. Greg Abbott on July 2 ordered mask-wearing in a reversal of his earlier opposition to enforcement. He said on local...Read more

Facebook's idea to ban political ads before election pleases no one

Business / Business News /

Civil rights groups were swift in their criticism of a plan being weighed by Facebook Inc. to halt political advertising before the U.S. election, saying the ban would do little to address rampant hate speech and misinformation on the social network.

An ad blackout could even exacerbate voter suppression, rights advocates said.

"@Facebook ...Read more

Pandemic, China trade deal fuel farmer doubts

Business / Business News /

WASHINGTON -- When farmers don't have enough money in their pockets, neither do local business owners or other residents in their small, rural communities.

"It doesn't matter what you do in North Dakota, your income is based somehow off of agriculture," said soybean farmer Tyler Stafslien, who lives in Makoti, North Dakota.

Buffeted by a two-...Read more

Coronavirus rages in Orange County, but don't tell that to Disney fans

Business / Business News /

ANAHEIM, Calif. -- For nearly 65 years, Disneyland was a place where millions came for a joyful reprieve from the outside world.

Then the coronavirus hit, and Fantasyland became impossible. Walt Disney Co. shut down its two theme parks and three hotels in Anaheim on March 13, furloughing tens of thousands of workers and vowing not to reopen ...Read more

1 in 5 US small firms plan layoffs after using PPP loan

Business / Business News /

An increasing number of U.S. small businesses plan to lay off workers after using a federal coronavirus relief loan as many states are slowing or changing reopening plans amid a spike in cases, a new survey shows.

About 22% of firms that received Paycheck Protection Program assistance have fired workers or expect to lay off one or more workers ...Read more

Amazon says email telling workers to delete TikTok app was sent in error

Business / Business News /

Hours after sending an email instructing employees to remove the social media app TikTok from their phones, citing unspecified "security risks," Amazon.com Inc. said Friday the message was sent in error.

The curious sequence of events came days after the White House amped up messaging that casts the popular Chinese-owned service as a potential ...Read more

Facebook considers political-ad blackout ahead of US election

Business / Business News /

SAN FRANCISCO -- Facebook Inc. is considering imposing a ban on political ads on its social network in the days leading up to the U.S. election in November, according to people familiar with the company's thinking.

The potential ban is still only being discussed and hasn't yet been finalized, said the people, who asked not to be named talking ...Read more

FCA recalls 1.2M SUVs, minivans because pieces on steering wheels can become projectiles

Business / Business News /

DETROIT -- Fiat Chrysler Automobiles is recalling more than 1.2 million SUVs and minivans because pieces on the steering wheels could become projectiles if the driver-side air bags deploy.

The recall affects 2007-11 Dodge Nitros and 2008-10 Chrysler Town & Country and Dodge Grand Caravan minivans. The bulk are in the United States.

The company...Read more