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Small businesses that took PPP aid may face a tax problem

Business / Business News /

A recent IRS ruling tying up a loose end in the 2020 economic-relief law could force many small businesses to pay taxes on government aid meant to help through the pandemic.

The agency on Nov. 18 said the businesses cannot deduct expenses such as payroll and rent, paid for with money from the Paycheck Protection Program of the CARES Act. Such ...Read more

Dania Maxwell/Los Angeles Times/TNS

Black Friday still lures some shoppers, despite the pandemic

Business / Business News /

LOS ANGELES — Crowds appeared smaller and lines seemed shorter, but shoppers still awoke early on Black Friday for deals and tradition.

Retailers expected that 2020 would bring a subdued Black Friday, as coronavirus cases soar across the United States. Customers cautious about contracting the virus are expected to shop from home, accelerating...Read more

Petr Svec/Dreamstime/TNS

Tesla suspension problems prompt NHTSA probe of 115,000 cars

Business / Business News /

The National Highway Traffic Safety Administration is investigating whether faulty suspension parts on nearly 115,000 Tesla Inc. cars can result in damage to the tires.

The agency said it received 43 complaints about 2015 through 2017 Tesla Model S and 2016 through 2017 Model X vehicles.

NHTSA said 32 of the complaints involve failures that ...Read more

Anthony Souffle/Minneapolis Star Tribune/TNS

Cargill makes another investment in fast-growing wellness sector

Business / Business News /

Cargill Inc. is furthering its push into functional human and animal health with two investments aimed at gaining a leg up in this fast-growing wellness space.

The Minnetonka, Minn.-based agribusiness announced last week a "significant investment" in a venture capital fund of Seventure Partners that focuses solely on cutting-edge companies in ...Read more

Luis Sinco/Los Angeles Times/TNS

Delta cancels hundreds of flights over Thanksgiving holiday

Business / Business News /

Delta Air Lines has canceled hundreds of flights over Thanksgiving, citing staffing problems during the holiday period.

With air travel demand down by more than 50% amid the coronavirus pandemic, the Atlanta-based airline has cut its staff by thousands this year through buyouts and early retirements. Thousands more are on voluntary unpaid leave...Read more


Real estate Q&A: How can I get my ex's name off deed of my home?

Business / Business News /

Q: I was divorced a few years ago and was awarded the house. My ex-spouse never deeded me the property like he was supposed to, and I have no way to track him down. How can I get his name off my house? — Kelly

A: I speak with many people whose spouse was supposed to deed over the house after the divorce was final and never did.

Sometimes it ...Read more

Retail workers fear for their safety: 'An anxiety attack waiting to happen'

Business / Business News /

LOS ANGELES — Black Friday leaves Andrea Hernandez breathless.

She's worked the day after Thanksgiving at a mall shoe store in Los Angeles the last three years, spending her shift running back and forth, hauling sneakers from the stockroom to the waiting feet of customers — and trying to keep her cool when someone inevitably yells at her ...Read more

Biden expected to usher in an era of worker-friendly labor policies

Business / Business News /

Labor activists eager to capitalize on the pro-worker sentiment fueled by the pandemic will soon have a friend in the White House.

President-elect Joe Biden is expected to push to make it easier for workers to unionize and hold employers accountable for working conditions, a sharp U-turn from the business-friendly employment policies pursued by...Read more


At James Bond studio MGM, questions mount about the company's direction

Business / Business News /

After Metro-Goldwyn-Mayer Studios' exit from bankruptcy a decade ago, the storied film and television company made strides toward regaining its status as a Hollywood player.

But growing questions loom about the direction of the Beverly Hills-based studio with the roaring lion logo.

The company, known for the Rocky and James Bond movies, has ...Read more


Auto review: The 2021 Genesis G90 supplies what American automakers once delivered, but no longer do

Business / Business News /

There seems to be some impression that the best cars have rock-firm suspensions sure to shatter your vertebrae. Yes, a firm suspension provides exceptional cornering ability, but what works best on racetrack isn't always what works best in the real world, where clogged arteries and crumbling highways, not glass-smooth race track, are a fact of ...Read more


Auto review: 2021 Lincoln Nautilus adds big screen, colors, connectivity for feature updates

Business / Business News /

Lincoln's Nautilus midsize luxury SUV gets a new interior and significant connectivity improvements when the 2021 model arrives in dealerships early next year. The Nautilus will also go into production then in China, a growing market for Lincoln. North American versions of the SUV will continue to come from the Oakville, Ontario, plant that's ...Read more

Mark Phelan/Detroit Free Press/Detroit Free Press/TNS

Auto review: It's a bird, it's a plane … it's the 702-horse Ram TRX supertruck

Business / Business News /

Flying at over 65 mph in a 2021 Ram 1500 TRX — four feet off the ground — is when you realize that there's not much pickups can't do anymore. Hold that image, and let me catch you up.

The 702-horsepower TRX — pronounced T. rex — is the most powerful truck made.

But it's much more than a rocket-sled. It's like the recent crop of insane ...Read more


Auto review: 2021 Hyundai Venue offers less for less

Business / Business News /

2021 Hyundai Venue Denim Edition: An old Soul?

Price: $23,305 as tested. Carpeted floor mats ($135) were the lone option.

Conventional wisdom: Consumer Reports likes the controls, fuel economy, and braking, but not "the ride, noise, fit and finish, or rear seat."

Marketer's pitch: "Small SUV. Big city hustle."

Reality: Definitely has the ...Read more


The Week Ahead: Looking at the share of long-term unemployment

Business / Business News /

The penultimate jobs report of the Trump Administration will be released on Friday. Any drop in the headline unemployment rate for November will be heralded by the president as proof that the economy is healing. He will take credit where very little is due. Don't be shocked if he uses it as an anvil to hammer imaginary threats of economic ruin ...Read more

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AstraZeneca likely to run fresh global vaccine trial, CEO says

Business / Business News /

AstraZeneca Plc is likely to conduct an additional global trial to assess the efficacy of its COVID-19 vaccine, according to the company's chief executive officer, after current studies raised questions over its level of protection.

The new trial would be run instead of adding an arm to an ongoing U.S. trial and would evaluate a lower dosage ...Read more

Joe Burbank/Orlando Sentinel/TNS

4,000 more Disney theme park division employees are losing their jobs

Business / Business News /

ORLANDO, Fla. — On the day before Thanksgiving, the Walt Disney Co. revealed 4,000 more layoffs are coming in its theme parks division, bringing the total number of announced layoffs to 32,000 across the company.

At least 18,000 of the total jobs lost belong to cast members at Walt Disney World, though the SEC report filed Wednesday did not ...Read more

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Comcast will charge customers more for heavy internet usage starting next year

Business / Business News /

Comcast Corp. will charge more for heavy users of home internet in Northeast states — including Pennsylvania and New Jersey — angering customers who work and study online due to the pandemic.

The vast majority of Comcast's Xfinity customers won't be affected by the "data threshold" next year, company officials said this week. But the extra ...Read more

Curtis Compton/Atlanta Journal-Constitution/TNS

Delta pilots approve deal to avoid furloughs

Business / Business News /

ATLANTA — Delta Air Lines pilots agreed to pay cuts to avoid furloughs.

The deal allows the Atlanta-based airline to reduce pilots' guaranteed pay by 5%. Those who had been in danger of losing their jobs will only get roughly a third of regular pay when not working.

In exchange, Delta will not furlough pilots until at least Jan. 1, 2022. The...Read more

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Brazil aviation agency is first foreign regulator to clear Boeing 737 Max to fly

Business / Business News /

Brazil's national civil aviation authority on Wednesday became the first foreign air safety regulator to join the U.S. Federal Aviation Administration (FAA) in approving the Boeing 737 Max to fly passengers again.

The agency indicated that, like Europe's aviation regulator, it too is asking Boeing to make some further design improvements that ...Read more

Richard B. Levine/Sipa USA/TNS

Salesforce is said to explore acquisition of Slack

Business / Business News / Inc. is considering acquiring workplace chat tool Slack Technologies Inc., according to a person familiar with the matter.

Slack shares surged as much as 34% while the news weighed on Salesforce, which fell as much as 5%.

The companies have been holding talks and could announce a deal as soon as next week, the person said. A ...Read more