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Carla Fried: Planning to work longer? Here's a reality check and a strategy for success

Business / Business News /

Americans who face 401(k) and IRA account balances that likely won't generate nearly enough money to live on comfortably have decided they'll just keep working.

More than one third of pre-retirees surveyed by the Employee Benefit Research Institute say their plan is to keep working until at least age 70; 45% are setting their sights on retiring...Read more

Halkbank charged in US indictment with fraud, laundering

Business / Business News /

NEW YORK -- U.S. prosecutors filed criminal charges against Turkey's Halkbank, accusing it of fraud, money laundering and violating U.S. sanctions against Iran, in a case that Turkish President Recep Tayyip Erdogan had pressed both President Donald Trump and President Barack Obama to dismiss.

Prosecutors accused the bank of participating in a ...Read more

Help wanted: Too many jobs and not enough workers in most states

Business / Business News /

A labor shortage is jeopardizing economic expansion in almost every state, putting pressure on lawmakers to find ways to attract more residents and coax people who have dropped out of the workforce to rejoin it.

States are offering financial incentives to entice prodigal natives to move home and raise families. They're also reaching out to ...Read more

UnitedHealth Group shares jump more than 5% on strong earnings, guidance

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Shares of UnitedHealth Group jumped more than 5% in early trading Tuesday after the company reported third quarter results that beat expectations for profit and revenue while putting a focus on the company's expanding business running outpatient medical centers.

David Wichmann, the UnitedHealth Group chief executive, told investors during a ...Read more

Wells Fargo details big drop in profits in first earnings report since new CEO named

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A little over two weeks after choosing its new CEO, Wells Fargo announced its third quarter earnings for 2019 on Tuesday, where profits slipped.

The bank reported a net income of $4.6 billion -- down from $6 billion this time last year. That's a 23% drop.

And it's revenue of $22 billion saw modest growth from 2018's third quarter revenue of $...Read more

Detroit TV station owner under fire for meme sent to African American pastor

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DETROIT -- A meme seen as racially offensive that was sent last month to an African American minister by the white owner of a religious TV station aimed at black audiences has sparked controversy, with the Detroit chapter of the National Association of Black Journalists condemning it Monday and calling for a boycott of the media outlet.

But the...Read more

Liz Reyer: In uncertain times, senior leaders can't hoard information

Business / Business News /

Q: I'm not sure what's up with my team. We have a lot of ambiguity in our company, and I'm using what I consider to be a leadership best practice of keeping the unknowns to myself so that the team won't be stressed. But I'm getting challenged by them for leaving them in the dark and making decisions without their input. How can I get them on ...Read more

Facebook, 20 other companies launch Libra group in wake of several defections

Business / Business News /

Despite mounting skepticism and the lack of support from several leading financial companies, Facebook and 20 other companies have launched the Libra Council, a group designed to support and govern the already controversial Libra cryptocurrency.

In addition to Facebook, which is joining the council via its Calibra subsidiary, the group's ...Read more

Consumer Confidential: Let's talk about Medicare for all — for pets

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Medicare for all. For pets.

I've been chewing on that idea since chatting with Stephanie Napoles, 32, who shared a recent experience involving her Cane Corso, Rockie.

Rockie was diagnosed with hip dysplasia after a minor accident. It's a relatively common ailment among larger dogs (and Cane Corsos are big; Rockie, at 8 months, already weighs ...Read more

Meet Alki David: The self-appointed ambassador for the wronged men of the #MeToo movement

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LOS ANGELES -- Inside a stuffy Los Angeles Superior courtroom, Alkiviades "Alki" David, the British-Greek billionaire heir to a Coca-Cola bottling fortune, held forth, stomping around in Louis Vuitton combat boots, purple jeans and a Ramones T-shirt that did little to conceal his body atlas of tattoos. David, who is the man behind the dead-...Read more

It's a tight labor market, and unemployment is at a 50-year low. So why aren't wages rising?

Business / Business News /

Recently we learned that the nation's unemployment rate fell to a nearly 50-year low. Great news, right? Yes, but job gains have slowed and wage increases are moderating.

Aren't wages supposed to rise when labor markets are tight? And isn't job growth supposed to be strong when the economy is expanding solidly?

What is really going on in the ...Read more

Lithium will fuel the clean energy boom. This company may have a breakthrough

Business / Business News /

Gaze across the Salton Sea, a sparkling oasis in the California desert, and you'll see white plumes of steam rising against the hazy Chocolate Mountains.

The steam comes from 11 geothermal power plants, nestled between the accidental lake and the verdant farm fields of the Imperial Valley. The area has been churning out climate-friendly ...Read more

GM deal with UAW on health care costs may help end strike, hurt Ford

Business / Business News /

DETROIT -- General Motors, in its negotiations with the UAW, has cost Ford a lot of money.

Why? Ford employs the most hourly workers in the United States and as a result pays more for health care. So any costs that GM negotiates in what is seen as a master contract with the Detroit Three directly impacts Ford disproportionately, labor analysts ...Read more

Flour mill in Baltimore County's Oella, Maryland's last commercial mill, to shut down

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Maryland will lose its last commercial grain mill when a flour and corn mill on the banks of the Patapsco River across from old Ellicott City shuts down early next year.

Wilkins-Rogers Inc. plans to relocate its Oella milling operations somewhere in the Midwest, according to Baltimore County officials who have been in contact with the company. ...Read more

UPS launching self-storage service

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UPS is launching a self-storage service allowing customers to have packed bins picked up and delivered to a UPS facility for storage.

UPS launched Storage on Demand after a team of four UPS employees pitched the idea at a company innovation competition and brought it to market in nine months.

The service is available in greater metro Atlanta ...Read more

UAW summons its National GM Council to Detroit, but has no deal with yet

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DETROIT -- The UAW has sent a letter to its National General Motors Council summoning union local officers to Detroit on Thursday for a morning meeting at the Marriott downtown.

Meanwhile, negotiators for GM and the UAW wrapped up a day of talks Monday evening, on the 29th day of a nationwide strike against the automaker. Negotiations are ...Read more

As CDC warns against all cannabis vaping, California's legal market tries to ease consumer fears

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SAN DIEGO -- Pesticides, mold, bacteria -- these are boogeymen that technicians at cannabis testing labs are intimately familiar with and look for daily as part of California's rigorous requirements to legally bring THC products to market.

In the past month, they've increasingly been asked to look for something else: vitamin E acetate.

The ...Read more

Facebook's Libra faces more resistance from finance leaders

Business / Business News /

Facebook is meeting even more resistance to its Libra cryptocurrency as financial officials with some of the world's biggest governments are expected this week to say Libra should not be allowed to go forward without stronger assurances that it won't disrupt the international finance system.

A report from a task force made up of officials from ...Read more

Riot Games tells broadcasters to keep political issues off the air

Business / Business News /

Before pro gamers took the stage this weekend at the League of Legends World Championship Group stage, developer Riot Games laid out some ground rules.

But the company's message had little to do with the game itself.

Seemingly wary of stirring any geopolitical controversy after rival studio Blizzard faced backlash for punishing a gamer with ...Read more

Qualcomm chips to power 30-plus devices targeting 5G home broadband

Business / Business News /

Can new 5G mobile networks deliver wireless Internet service that's fast and reliable enough to challenge cable companies in the home broadband market?

That question could be answered relatively soon. As 5G network roll-outs become more widespread, delivering broadband to homes is considered one of the most promising potential businesses for ...Read more