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Dai Sugano/Bay Area News Group/TNS

Elizabeth Holmes using upset doctor as 'ticket to a new trial,' prosecutors claim

Business / Business News /

Theranos founder Elizabeth Holmes is trying to turn a visit to her home this summer by a key prosecution witness into a “ticket to a new trial,” prosecutors claim.

Convicted by a jury in January for defrauding investors in her now-defunct Palo Alto blood-testing startup, Holmes is scheduled to be sentenced Oct. 17 on four felony counts. ...Read more

Ford Motor Co./Ford Motor Co./TNS

Ford reveals next-gen Super Duty pickup lineup

Business / Business News /

Ford Motor Co. on Tuesday debuted the next-generation Super Duty — part of the Dearborn automaker's best-selling F-Series lineup — for model year 2023.

The redesigned lineup of pickup trucks and chassis cabs features new technology and targets best-in-class towing, payload, torque and horsepower in the heavy-duty full-size truck segment, ...Read more

Jesse Wright/Pioneer Press/Chicago Tribune/TNS

Buona Beef plans franchise expansion to take Italian beef to southern and western US

Business / Business News /

Berwyn, Illinois-based Italian beef institution Buona announced Tuesday it would open restaurants outside of the Chicago area and Northwest Indiana under a new franchise program.

The family-owned company plans to open 100 franchised stores over the next five years in Florida, Texas, Colorado, Tennessee, Arizona and elsewhere in the Midwest, ...Read more

Maysun/ZUMA Press/TNS

Airbnb co-founder bets on remote work amid back-to-office push

Business / Business News /

Home-sharing company Airbnb Inc., initially paralyzed by pandemic lockdowns but revitalized by the recent travel boom, is betting that remote work is here for good.

Stays of 28 days or more — usually by so-called digital nomads who can do their jobs from various locales — now make up about a fifth of Airbnb’s business. And this year, the ...Read more

Stocks drop for sixth session as rate woes persist: Markets wrap

Business / Business News /

US stocks ended a volatile session lower after a slew of Federal Reserve officials hammered home their resolve to remain aggressive in their fight against inflation.

The S&P 500 dropped for the sixth straight session, its longest losing streak since February 2020, sparked by harsh central bank tightening programs. The index swung between gains ...Read more

GM delays timeline on employees returning to the office amid backlash

Business / Business News /

General Motors Co. executives are delaying the timeline for bringing white-collar workers back to the office after backlash from a decision released last week requiring employees to return to in-person work three days a week, according to a Tuesday memo.

"We acknowledge that the timing of the message, late on a Friday afternoon, was unfortunate...Read more

Sheila Fitzgerald/Dreamstime/TNS

California bill to accelerate undergrounding of power lines awaits governor's signature

Business / Business News /

A bill that supporters say will help reduce the incidence of deadly wildfires — especially in the Northern California service territory of Pacific Gas & Electric — by streamlining efforts to place power lines underground awaits the signature of Gov. Gavin Newsom.

But opponents, saying the legislation undercuts existing regulatory oversight ...Read more

Irfan Khan/Los Angeles Times/TNS

A second Prime sale shows Amazon is nervous about the economy too

Business / Business News /

Holiday bargain shopping is starting extra early this year. And that could be good news for shoppers, even if it signals slightly worrisome things for the economy.

E-commerce giant Amazon announced plans Monday for "a new two-day global shopping event" exclusive to members of its Prime loyalty program. Dubbed Prime Early Access Sale, the ...Read more

Dreamstime/Dreamstime/TNS

Worried about the economy? Demand for these jobs is high and growing

Business / Business News /

Elsa Reaza was ready to leave her job when a friend suggested she apply for a housekeeping position at the Conrad, a new luxury hotel in downtown Los Angeles.

Reaza worked at a senior home, feeding, taking blood samples and cleaning up after patients. The work was emotionally draining even before the pandemic arrived, taking the lives of ...Read more

Cyberattacks a top concern across all business sizes, economic uncertainty a close second, new survey shows

Business / Business News /

Cyberattacks are now so common that the majority of businesses responding to a new survey not only viewed them as their top concern but a majority saw a future attack on their organization as inevitable.

An annual survey of businesses by insurance giant Travelers Cos., which underwrites cybersecurity coverage, ranked cyberattacks as the top ...Read more

Greg Gilbert/The Seattle Times/TNS

Amazon still says no to drugs, and is booting marijuana businesses

Business / Business News /

For nine years, Arnold Marcus had been making a living selling spice grinders on Amazon.

His company, Golden Gate Grinders, had several colors available, repeat customers and an invitation to join the Amazon Accelerator program, a path toward becoming a supplier for Amazon's private label. Marcus, 68, would package orders and take customers' ...Read more

Antonio Perez/Chicago Tribune/TNS

Collective bargaining amendment brings national labor fight to Illinois ballot

Business / Business News /

Atop ballots throughout Illinois this fall, voters will be asked whether Illinois should enshrine into the state constitution the right of workers to unionize and collectively bargain, a proposal backed by organized labor to preempt future right-to-work laws but opposed by anti-union groups that contend it will raise taxes and grant unions ...Read more

Ivan Penn/Los Angeles Times/TNS

Tesla's big batteries aren't the fire problem. Lithium is

Business / Business News /

When a Tesla Inc. battery caught fire at an energy storage facility that helps power California last week, critics were quick to pounce. Michael Burry of “The Big Short” fame, who called the mid-2000s housing collapse correctly, hit out at the EV maker.

Blaming Elon Musk’s firm for a bad battery misses the point, however. Instead, we need...Read more

E. Jason Wambsgans/Chicago Tribune/TNS

Chicago rolls out plan to revive financial district in wake of pandemic

Business / Business News /

Chicago Mayor Lori Lightfoot unveiled a plan Monday to revive the LaSalle Street corridor, a key downtown office district that suffered the double whammy of COVID-19 and the loss of several large firms to new towers rising farther west along Wacker Drive and in Fulton Market.

The mayor said it’s time to take advantage of the Loop apartment ...Read more

Kent Nishimura/Los Angeles Times/TNS

Michael Hiltzik: Painful signs emerge that Fed is moving too far, too fast with aggressive rate increases

Business / Business News /

We have a term for the intentional infliction of pain on others: cruelty. So what are we to make of the Federal Reserve Board?

The Fed, in statements associated with its campaign to bring down inflation, has referred to the challenge of bringing about a "soft landing" — that is, reducing inflation without significantly slowing the economy or ...Read more

Jonathan Weiss/Dreamstime/TNS

Postal prices going up to keep up with holiday season

Business / Business News /

It'll cost more to mail letters and packages this holiday season.

Starting Sunday, the U.S. Postal Service is increasing its rates for both commercial and retail products. The agency last month filed notice with the Postal Regulatory Commission regarding the temporary price adjustment for the upcoming holiday season, which will run through Jan....Read more

Inflation is crushing Americans' savings -- here are 6 tips to protect your money

Business / Business News /

Building up a stable cushion of cash you can rely on in emergencies seems daunting even in normal economic times. Add the steepest loss of Americans’ purchasing power in more than 40 years into the mix, and the task can seem next to impossible.

Prices have climbed on almost every consumer staple, rising 8.3% in August from a year ago — ...Read more

Republican senator proposes ban on automakers 'double-dipping' incentives

Business / Business News /

WASHINGTON — Republican Sen. John Thune of South Dakota recently introduced a bill that would stop automakers from "double-dipping" on federal incentives aimed at accelerating electric vehicle production.

The legislation stands little chance of passing in the Democrat-controlled Senate, but may be indicative of a GOP strategy to reverse some ...Read more

Kylie Cooper/The Seattle Times/TNS

Starbucks adapts to market changes with focus on convenience

Business / Business News /

Starbucks' unveiling of new stores and more efficient automated machines earlier this month marked the 51-year-old company's definitive shift in focus from community building to convenience.

The changes included a turn to drive-thru and pickup-only stores, a forecast of slower cafe-only store growth and the addition of efficient machines such ...Read more

Dreamstime/TNS

Remote work drove over 60% of house-price surge, Fed study finds

Business / Business News /

The shift to working from home drove more than half of the increase in house and rent prices during the pandemic and will likely drive up costs and inflation going forward as the shift becomes permanent, according to research from the Federal Reserve Bank of San Francisco.

“The transition to remote work because of the COVID-19 pandemic has ...Read more