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Challenger SRT Demon 170 is 'new pinnacle of factory-backed crazy' in Dodge 'Last Call'

Business / Business News /

An up to 1,025-horsepower Dodge Challenger Demon that can travel the quarter mile in under nine seconds and requires the signing of a waiver to purchase marks the end of the Hemi-powered muscle car as the brand moves into a new era of performance.

For $96,666 plus destination and other fees and the notarized disclosure, speed enthusiasts can ...Read more

Tyler Olson/DREAMSTIME/TNS

Temp nurses cost hospitals big during pandemic. Lawmakers are now mulling limits

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To crack down on price gouging, proposed legislation in Missouri calls for allowing felony charges against health care staffing agencies that substantially raise their prices during a declared emergency.

A New York bill includes a cap on the amount staffing agencies can charge health care facilities. And a Texas measure would allow civil ...Read more

Gen Z job market turnover expected to exceed 2022 levels

Business / Business News /

If you think the Great Resignation is over, think again.

The latest snapshot of the job market by recruiting giant Robert Half shows that more Generation Z workers are likely to change jobs in 2023 than last year.

About 60% of 18- to 25-year-olds said they would likely to change jobs in early 2023, up from 53% last year. More than 50% of ...Read more

Anna Moneymaker/Getty Images North America/TNS

Michael Hiltzik: The Fed's errors have brought the economy to the brink of recession. Raising rates again might send it over

Business / Business News /

The Federal Reserve system was stung in late 2021 when it declared signs of emerging inflation to be "transitory" and delayed taking strong action to tamp down price increases.

The central bank has been running from its critics ever since. Under its chairman, Jerome H. Powell, it has instituted the most aggressive anti-inflation interest rate ...Read more

What does 'moral hazard' mean? A scholar of financial regulation explains why it's risky for the government to rescue banks

Business / Business News /

“Moral hazard” refers to the risks that someone or something becomes more inclined to take because they have reason to believe that an insurer will cover the costs of any damages.

The concept describes financial recklessness. It has its roots in the advent of private insurance companies about 350 years ago. Soon after they began ...Read more

On the brink of eviction, one Philadelphia mother applied for assistance. But getting it could take years

Business / Business News /

Kimberly Clark has lived in the same Southwest Philadelphia house, on the same block, with some of the same neighbors for 24 years.

"This block actually is a nice block," Clark said. "Everybody's known me since I was small."

Clark's elderly aunt, daughter, and grandchildren live across the street. Her mother lives nearby. "We have a small ...Read more

US studies ways to insure all bank deposits if crisis grows

Business / Business News /

U.S. officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis.

Treasury Department staff are reviewing whether federal regulators have enough emergency authority to temporarily ...Read more

DREAMSTIME/TNS

Motormouth: What is function of steering angle sensor?

Business / Business News /

Q: I am an owner of a 2010 Equinox with 70,000 miles. After replacing all four struts, we had a wheel alignment done. The vehicle had a left pull after the alignment. My mechanic switched two front tires left to right. Vehicle still pulls left. I recently read that the steering angle sensor needs to be reset after an alignment. Is this true? I ...Read more

California energy giant Sempra moves forward on major liquefied natural gas project in Texas

Business / Business News /

San Diego's Fortune 500 energy giant Sempra will add another major project to its roster of facilities that ship liquefied natural gas, or LNG, to destinations around the world.

The infrastructure subsidiary of Sempra announced Monday afternoon that it will proceed with the construction of the first phase of Port Arthur LNG, a $13 billion ...Read more

As bailiffs seize jets from Canadian airline, Boeing order in the balance

Business / Business News /

In the early morning Canadian cold on March 11, the beginning of spring break for school-age kids in Ontario, families duly assembled at the Region of Waterloo International Airport west of Toronto to fly on Flair Airlines to the sun in Orlando, Florida.

But more than three hours before the 7:20 a.m. flight — “in the dark of night,” as ...Read more

Stellantis, suppliers to invest over $214M to build Fiats in Algeria

Business / Business News /

Stellantis and suppliers are investing more than $214 million (200 million euro) to expand the Fiat brand into Algeria and manufacture models there, as the automaker seeks to double global revenues by 2030.

The automaker said Monday it's bringing six Fiat models for sale in the North African country starting Tuesday and will manufacture four ...Read more

Patrick T. Fallon/AFP/Getty Images North America/TNS

US banks on bumpy path as First Republic's troubles persist

Business / Business News /

Just weeks ago, they were bit players in the giant U.S. banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.

At the last tally in the rapidly evolving turmoil, one of the two collapsed lenders remained for sale while the fate of a ...Read more

Carline Jean/South Florida Sun-Sentinel/TNS

$10-a-barrel oil price plunge should bring relief at gas pump

Business / Business News /

What’s bad for the economy is sometimes good for motorists.

High-profile bank failures sent stock market and crude oil prices plunging last week amid renewed concerns that a global recession could be taking shape.

U.S. crude oil prices dropped about 13% over the past week, from $74.43 a barrel on March 14 to $64.54 in early morning trading ...Read more

Dreamstime/Dreamstime/TNS

Here's how to prepare for a recession, if it actually happens

Business / Business News /

A recession could be on the way. Or it could not.

Economists have been predicting and prognosticating for months, some saying the economy will recede later this year, while others point to 2024. If it does happen, most agree it will be mild, not to the level of job losses from the 2007-09 Great Recession.

Regardless which forecast is right, ...Read more

Erika Schultz/The Seattle Times/TNS

Amazon to cut 9,000 more jobs

Business / Business News /

In another push to reduce costs and trim workforce, Amazon announced Monday its plans to lay off another 9,000 employees, bringing its total job cuts to 27,000 since November.

CEO Andy Jassy told employees Monday the company had finished another round of its annual cost-cutting review and decided to eliminate more roles in the next few weeks. ...Read more

Jay L. Clendenin/Los Angeles Times/TNS

Disney plans 4,000 layoffs as part of previously announced job cuts: report

Business / Business News /

The Walt Disney Co. plans to lay off about 4,000 people company-wide as part of the 7,000 job cuts CEO Bob Iger announced in February, according to a report by Business Insider.

Managers have been asked to identify layoff candidates by April, an unidentified person with knowledge of Disney’s decision told the publication. The same individual ...Read more

Dan Kitwood/Getty Images North America/TNS

All social media platforms have TikTok-like risks, transparency group says

Business / Business News /

The national-security and mental-health risks posed by TikTok are shared by other social media platforms, according to an advocacy group that’s urging Congress to also hold U.S. companies accountable ahead of high-profile testimony from TikTok’s chief executive officer.

The Tech Oversight Project, a nonprofit, says Meta Platforms Inc., ...Read more

Patrick T. Fallon/AFP/Getty Images North America/TNS

US banks on bumpy path as First Republic's troubles persist

Business / Business News /

Just weeks ago, they were bit players in the giant U.S. banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.

At the last tally in the rapidly evolving turmoil, one of the two collapsed lenders remained for sale while the fate of a ...Read more

Monica Herndon/The Philadelphia Inquirer/TNS

A young Black wealth coach's money advice for millennials: Start by giving up the scarcity mind-set

Business / Business News /

Time is a crucial ingredient for building wealth. But these economic times for millennials, those born between 1981 and 1996, have not been auspicious.

Culprits included the 2018 Great Recession, which took off just as many were graduating from college or in the early days of their careers. Add to that the huge student-loan debt load that so ...Read more

Christina House/Los Angeles Times/TNS

His podcast company faced a crossroads. Now Jesse Thorn's employees are owners

Business / Business News /

Jesse Thorn has built a sizable audience with his podcast business Maximum Fun. His NPR interview show, "Bullseye With Jesse Thorn," has brought on guests including Jonathan Majors, Tom Hanks and Kareem Abdul-Jabbar.

But during the last few years, he said, running the Los Angeles-based business drove him to a breaking point. The father of three...Read more