California's cannabis growers stay in the shadows

Business / Business News /

More than a month after California's regulation of marijuana began, only a small number of the tens of thousands of cannabis businesses have joined the system -- threatening the state's shift to a regulated market and the promise of a billion-dollar tax windfall.

Less than 1 percent of the state's 68,120 cannabis growers have been licensed, ...Read more

Lawsuit against Uber on driver pay gets class-action go-ahead from judge

Business / Business News /

A federal lawsuit alleging that Uber stiffed its drivers of fare money has received class certification, allowing it to include thousands of drivers nationwide who did not sign an arbitration agreement with the San Francisco company.

The breach of contract lawsuit, filed in May in U.S. District Court in San Francisco, alleges that when Uber ...Read more

David Glasser was the Weinstein Co.'s 'third brother.' Will his firing be enough to save the business?

Business / Business News /

They called him "the third brother."

For years, Weinstein Co. President David Glasser was the right-hand man to Harvey Weinstein, working as a peacemaker between the volatile movie magnate and Weinstein's brother and partner, Bob. Glasser oversaw the company's operations and was key to building its television business.

That abruptly ended ...Read more

Distraction, drinking among causes for high traffic death toll

Business / Business News /

CHICAGO -- The traffic death toll in Chicago is growing, and the national count remains at historic highs, despite new car safety technology.

That means it's past time to slow down, stay sober and stop trying to multitask while you drive, according to traffic safety experts.

"We're really treading water in terms of roadway safety, which is ...Read more

Airlines protest Trump budget proposal to raise passenger fees

Business / Business News /

A little over a year into the Trump administration, the U.S. airline industry has mixed feelings about the businessman-turned-president.

Three of the country's biggest airlines -- United, Delta and American -- and their labor unions praised Trump last month for making a deal to get Qatar Airlines to restrict its flights to the U.S. and provide ...Read more

Proxy adviser supports 4 Broadcom nominees to Qualcomm's board to spark a negotiated sale

Business / Business News /

SAN DIEGO -- A company that advises shareholders has recommended that Qualcomm investors support some but not all of Broadcom's board of director nominees as a catalyst for a negotiated deal between the two semiconductor giants.

After meeting with Broadcom and Qualcomm representatives last week, Institutional Shareholder Services called for ...Read more

Weinstein Co. board fires president David Glasser 'for cause'

Business / Business News /

Weinstein Co.'s president and chief operating officer, David Glasser, has been fired "for cause," the New York entertainment company's board of directors said.

Glasser came under fire this week after the New York state attorney general's office sued the studio, alleging civil rights violations. New York Attorney General Eric Schneiderman ...Read more

On Philanthropy: 2018 is ideal time to focus on strategic corporate philanthropy

Business / Business News /

Businesses must play a more strategic and integral role in efforts to solve the most pressing problems of our local, national and global communities. So believes Larry Fink, chairman and CEO of international asset management and investment giant Blackrock. His colleagues in the business community are taking note.

In his annual CEO letter, Fink ...Read more

Your paycheck will probably get bigger this month because of the new tax law

Business / Business News /

Most Americans are starting to see one of the early benefits of the new tax law: a bump in take-home pay.

Paychecks are increasing for about 90 percent of Americans due to the tax overhaul, according to the U.S. Treasury, a result of changes in withholding tables set by the IRS. The deadline for all employers to make the adjustments in ...Read more

Susan Tompor: Taxes: What you need to know to deduct medical expenses

Business / Business News /

Some retirees are grumbling that young families are getting a better deal under tax reform. But seniors could be overlooking some good news for deductions for medical expenses.

At one point, the heated debate on tax reform called for eliminating the deduction for medical expenses entirely.

But the major tax reform package that Congress passed ...Read more

Wisconsin farmers ready to grow hemp again, but some products challenged by drug enforcement officials

Business / Business News /

This spring, for the first time in about 60 years, Wisconsin farmers will be planting hemp -- a close and sometimes maligned cousin to marijuana.

The number of acres will probably be minuscule compared with corn and soybeans, yet there's interest in making Wisconsin the No. 1 hemp state in the nation, like it was in the 1950s.

Hemp was once ...Read more

Ex-Googlers strike startup gold -- again -- with $1.9 billion sale to drugs giant

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A two-man entrepreneurial team who attended an elite college together where they founded a startup they sold to Google for a reported $81 million have just sold a second company they founded together for nearly $2 billion.

Swiss pharmaceutical giant Roche and the cancer-technology firm Flatiron founded by Nat Turner and Zach Weinberg confirmed ...Read more

Cries of scam arise as once high-flying firms fail to deliver on cryptocurrency

Business / Business News /

WASHINGTON -- When the price of bitcoin and other digital currencies shot up late last year, insurance agent Ryan James wanted in on the action. He hit a trifecta.

Unfortunately for James, the trifecta was in three get-rich-quick companies that crashed in value, drew the attention of U.S. and Canadian regulators and highlighted the dangers of ...Read more

Google's firing of Damore in 'monoculture' case found legal

Business / Business News /

WASHINGTON -- Google's firing of an engineer over his controversial memo criticizing its diversity policies and "politically correct monoculture" didn't violate U.S. labor law, a federal agency lawyer concluded.

Statements in James Damore's 3,000-word memo "regarding biological differences between the sexes were so harmful, discriminatory, and ...Read more

Drug used to put dogs down causes recall of Gravy Train, other dog food brands

Business / Business News /

MIAMI -- J.M. Smucker is "withdrawing" all lots of certain Gravy Train, Kibbles 'N Bits, Skippy and Ol' Roy canned dog food products manufactured since 2016 because they might contain pentobarbital, a sedative used in pet euthanasia.

An FDA alert was posted Friday.

"The FDA's preliminary evaluation of the testing results of Gravy Train samples...Read more

Big Tech stages White House lobbying blitz

Business / Business News /

WASHINGTON -- The world's biggest technology providers saw an opening and a threat late last summer as the White House prepared a report that could influence billions of dollars in government spending on computing contracts. Inc., Oracle Corp., Alphabet Inc.'s Google and Microsoft Corp. all sought to make their voices heard as a key ...Read more

Feds fine US Bancorp $613 million for failing to guard against money laundering

Business / Business News /

WASHINGTON -- U.S. Bancorp has agreed to pay the federal government $613 million to settle criminal charges that it did not guard against money laundering in its business.

The U.S. Justice Department said Minneapolis-based U.S. Bancorp "willfully" failed to maintain adequate safeguards against money laundering, leading the bank to miss ...Read more

North Dakota oil supply down a bit but forecast is strong

Business / Business News /

North Dakota's oil production fell by 1 percent in December, though the outlook continues to be relatively optimistic.

The nation's second-largest oil-producing state, North Dakota pumped 1.18 million barrels per day in December, down from 1.97 million in November, according to data released Thursday by North Dakota's Department of Mineral ...Read more

To stay off 20 Most Hated Companies list, don't overpromise or underdeliver

Business / Business News /

This month the financial website 24/7 Wall St. published its list of America's 20 Most Hated Companies, based on consumer surveys and other metrics.

The list bears watching. It provides a rogues' gallery of how companies get in trouble with consumers.

There were some no-brainers on the list -- Weinstein Companies (formerly headed by sexual ...Read more

Streaming video is NBC's fountain of youth at the Winter Olympics

Business / Business News /

On Tuesday evening, 27-year-old Cosette Chaput hoped to get home from a late meeting at the Westwood office of the marketing agency where she works to see Olympic snowboarder Shaun White compete the halfpipe competition for his third gold medal.

With traffic on Santa Monica Boulevard moving at a crawl, the Beverly Hills resident wasn't going to...Read more