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Brian Cassella/Chicago Tribune/TNS

Rivian now has nearly 200,000 orders for its EV trucks and delivery vans. It's produced 8,000

Business / Business News /

Startup electric truck manufacturer Rivian continues to see robust demand for its inaugural products, with nearly 200,000 orders in hand, and a long way to go to fill them.

Rivian announced during a second quarter earnings call Thursday it had more than 98,000 orders for its R1T pickup and R1S SUV as of June 30. Amazon, an early investor in ...Read more

Andrei Gabriel Stanescu/Dreamstime/TNS

J&J to halt talc baby powder implicated in cancer litigation

Business / Business News /

Johnson & Johnson announced today that it will transition to an all cornstarch-based baby powder portfolio, and will globally discontinue talc-based powder in 2023.

“We continuously evaluate and optimize our portfolio to best position the business for long-term growth,” the company said in a statement. “This transition will help simplify...Read more

The short-term rental market took off during the pandemic's real estate boom, but at what cost?

Business / Business News /

Needing places to either work from temporarily or vacation as they escaped pandemic restrictions, COVID fleers made South Florida one of their top destinations.

And with them came an increased need for short-term housing, or vacation rentals.

“It appears mostly in the Sunbelt states, particularly in Florida, in South Carolina, where we have ...Read more

Qualcomm/TNS

Ex-Qualcomm research vice president and three others charged in $150 million fraud scheme

Business / Business News /

Federal prosecutors unveiled fraud and money-laundering charges this week against a former Qualcomm research engineer and three others for allegedly duping the San Diego company into paying $150 million to acquire technology that it putatively owned already.

A federal grand jury handed up the indictment in May, but it was unsealed on Monday. It...Read more

Chris Sweda/Chicago Tribune/TNS

Bally's files application with state for first Chicago casino

Business / Business News /

Bally’s filed its application with the Illinois Gaming Board on Wednesday, taking a major step in the process to build Chicago’s first casino and the flagship property for its fast-growing company.

The application was posted on the gaming board website Thursday morning.

The clock is now running for the publicly traded Rhode Island-based ...Read more

Real estate Q&A: How can I stop neighbor from pointing flood light at my house?

Business / Business News /

Q: My neighbor and I had a falling out, after which he set up a bright flood light that points directly into my home. I cannot keep the blinds open on an entire side of my house. He also harassed me in other ways, such as throwing junk over the fences and making loud noises at inappropriate times. What can I do? — Anonymous

A: I usually ...Read more

Mel Melcon/Los Angeles Times/TNS

Michael Hiltzik: Did California give Boeing a pass on a major pollution cleanup?

Business / Business News /

Back in 2007, the state of California reached an agreement with Boeing Co. requiring the company to clean up the polluted site of the Santa Susana Field Laboratory, outside Simi Valley, to an exacting environmental standard.

The site, on 2,850 acres 30 miles from downtown Los Angeles, had been used for six decades as a government-sponsored ...Read more

Olivier Douliery/Getty Images North America/TNS

US jobless claims rise again, near highest since November

Business / Business News /

Applications for U.S. unemployment insurance rose for a second week and held near the highest level since November, indicating continued moderation in the labor market.

Initial unemployment claims increased by 14,000 to 262,000 in the week ended Aug. 6, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of ...Read more

Brian van der Brug/Los Angeles Times/TNS

Housing slowdown? Looming recession? Not for the ultra-rich buyers of LA's 8-figure condos

Business / Business News /

To unveil one of the grandest penthouses ever to be built in Los Angeles, its developers threw a little dinner party.

Two dozen of L.A.’s top real estate agents — the sunglasses-indoors kind who regularly appear on reality television — were tended to by a cadre of young women in identical cream outfits, hired for the evening to serve as �...Read more

Nhat V. Meyer/Bay Area News Group/TNS

California's Deaf community is leading push for affordable teacher housing

Business / Business News /

During the day, Mel Vezina supervises and mentors high school boys who live on campus at the California School for the Deaf in Fremont.

At night, he sleeps in his van.

One year ago, after working for more than a decade at the school, and living out of his van, Vezina saved enough money to buy a house in Sacramento with the help of a roommate. ...Read more

BOB FILA/Chicago Tribune/TNS

Don't mess with federal crop insurance, farmers say. Others aren't so sure

Business / Business News /

From field hearings in Morton buildings to sweet corn feeds at county fairs, farmers have been practicing a refrain this summer: Hands off the federal crop insurance program.

The mantra was loud, too, last week at Minnesota's Farmfest as negotiations on the once-every-five-years federal farm bill inch closer.

"If it isn't broken, don't fix it,...Read more

Here's how much you need to earn to buy a home in the Bay Area

Business / Business News /

Thinking of buying a home in the Bay Area? You’ll need to make at least $250,000 a year to comfortably afford it.

That’s by far the highest homebuyer salary necessary anywhere in the country, and more than triple the average required nationwide income of $75,000 a year, according to a recent report by mortgage data website HSH.com.

The Bay...Read more

John J. Kim/Chicago Tribune/TNS

It's been a rough summer for air travel. But for some, the trip to or from the airport is just as frustrating

Business / Business News /

CHICAGO — Standing outside Terminal 2 at O’Hare International Airport, a phone in each hand, Mervyn Wright weighed the options to get to his suburban hotel.

He eventually settled on a $64 Uber ride from O’Hare to St. Charles, Illinois, a far western suburb of Chicago.

“That’s it. It’s 64 bucks,” said Wright, a business strategist...Read more

RJ Sangosti/The Denver Post/TNS

In Colorado mountain towns, where affordable housing is scarce, 'even living out of your car is gentrified'

Business / Business News /

SALIDA, Colorado — Blocked from sleeping in vehicles parked within municipal boundaries, workers in profit-minded Colorado mountain towns now must seek “safe outdoor space” — in Walmart lots, forests or newly designated areas with Wi-Fi and access to bathrooms.

But homeowners oppose these SOS zones in Salida and Breckenridge as “band-...Read more

Cisco hit by cyberattack from hacker linked to Lapsus$ gang

Business / Business News /

Cisco Systems Inc. said it was the victim of a cyberattack in which a hacker repeatedly attempted to gain access to the Silicon Valley firm’s corporate network.

Cisco said it became aware of a potential compromise on May 24, and disclosed it on Wednesday after the hacker leaked a list of the files it had stolen on the dark web.

An ...Read more

Joe Burbank/Orlando Sentinel/TNS

Visitor spending fuels soaring revenues at Disney theme parks

Business / Business News /

Visitor spending is up at Disney’s U.S. theme parks as average daily attendance has been only slightly below pre-pandemic levels of 2019 so far this fiscal year, Disney executives said Wednesday.

In a third-quarter earnings call Wednesday, CEO Bob Chapek and CFO Christine McCarthy attributed increased guest spending to ticket add-ons like ...Read more

Glen Stubbe/Minneapolis Star Tribune/TNS

Fed's Kashkari says he's staked out the most aggressive stance on lifting interest rates

Business / Business News /

Neel Kashkari welcomed the first better-than-expected inflation report in many months on Wednesday, but said it did not change his view on the need for more aggressive interest rate hikes even if it means triggering a recession.

"This is just the first hint that maybe inflation is starting to move in the right direction," the president of the ...Read more

OLIVIER DOULIERY/AFP/Getty Images North America/TNS

Motormouth: Follow the instructions

Business / Business News /

Q: You recently advised to follow the owner’s manual in choosing a grade of gas. Does that advice still hold if the manual says regular is fine but, for reasons long forgotten, the owner has been pumping nothing but mid-grade over the car’s entire 17-year life? If it matters, the car is an RX330 with about 120,000 miles.

W. K., Lake Geneva,...Read more

Michael McAndrews/Hartford Courant/TNS

As inflation cooled in July, prices rose more slowly in the Northeast. But not for energy

Business / Business News /

Prices rose more slowly in the Northeast in July than the rest of the nation, helped by slowing housing costs, the U.S. Department of Labor reported Wednesday.

The Labor Department reported the consumer-price index rose 8.5% in July from the same month a year ago, down from 9.1% in June, which marked the fastest inflationary pace since November...Read more

Dreamstime/Dreamstime/TNS

For 6th year in a row, car troubles top annual list of consumer complaints

Business / Business News /

Complaints ranging from deceptive practices and mechanical defects, to shoddy repairs and title issues propelled auto sales and repairs to the No. 1 type of complaint fielded by state and local consumer protection agencies again last year, according to an annual survey by the Consumer Federation of America.

The report from the Washington, D.C.-...Read more