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Barbara Haddock Taylor/Baltimore Sun/TNS

HUD inspectors find Ben Carson's actions didn't benefit son in Baltimore deals, but had the 'appearance' of ethical issues

Business / Business News /

The inspector general's office for the U.S. Department of Housing and Urban Affairs released an investigative report Tuesday that found no evidence that HUD Secretary Ben Carson used his position to benefit his son's business interests in Baltimore, but he "could have done more to avoid the appearance that he was not complying with federal ...Read more

Alex Wroblewski/Getty Images North America/TNS

JPMorgan Chase agrees to pay $920 million over market manipulation

Business / Business News /

NEW YORK - JPMorgan Chase, accused of presiding over thousands of episodes of illegal trading in precious metals and Treasury markets, said Tuesday that it will pay about $920 million as part of an agreement with the Justice Department.

The Justice Department said JPMorgan employees stationed on desks in New York, London and Singapore engaged ...Read more

Glen Stubbe/Minneapolis Star Tribune/TNS

Medtronic product removed from market in Australia, which is now investigating its use

Business / Business News /

Medtronic has pulled one of its most controversial products, Infuse Bone Graft, off the market in Australia as regulators there investigate why the company was widely selling it without a required safety component.

The market withdrawal happened after a former Medtronic employee told regulators that the Minnesota-run medical device company sold...Read more

Joe Burbank/Orlando Sentinel/TNS

Disney to lay off 28,000 workers at domestic theme parks

Business / Business News /

LOS ANGELES - The COVID-19 pandemic has brought substantial layoffs to Walt Disney Co.'s massive theme park operations.

The Burbank, Calif.-based company said Tuesday that it would lay off 28,000 employees at its domestic parks division, which includes Disneyland Resort in Anaheim and Walt Disney World in Orlando, Fla.

The company's once-...Read more

Dreamstime/Dreamstime/TNS

Judge blocks Peabody, Arch coal joint venture

Business / Business News /

ST. LOUIS - A federal judge on Tuesday blocked a proposed joint venture between two of the world's largest private coal companies, Peabody Energy and Arch Resources, that federal regulators argued would allow the companies to dominate the Powder River Basin coal market.

The Federal Trade Commission "has shown that there is a reasonable ...Read more

Bill Ingalls/Nasa/Planet Pix/Zuma Press/TNS

SpaceX upgrades Crew Dragon capsule before its next astronaut flight

Business / Business News /

SpaceX has made some changes to its signature crew spacecraft, the Crew Dragon capsule, as it looks forward to its astronaut launch at the end of October.

The upgrades come after the Elon Musk-led company launched two NASA astronauts in May in its first-ever crewed mission. After a more than two-month stay at the International Space Station, ...Read more

KC's largest healthcare insurance provider will return to Obamacare exchange in 2021

Business / Business News /

KANSAS CITY - Blue Cross and Blue Shield of Kansas City, the area's largest healthcare insurance provider, will return to the Affordable Care Act marketplace next year after leaving it in 2018.

The insurer lost more than $100 million on its exchange plans from 2014 to 2017, calling the losses "unsustainable" when it announced in May 2017 that ...Read more

Joe Burbank/Orlando Sentinel/TNS

NASA, SpaceX pick the wee hours of Halloween for next launch of astronauts to the space station

Business / Business News /

NASA and SpaceX are planning to launch another crew of astronauts to the International Space Station from Florida on Halloween morning, following a successful round-trip test mission to the ISS with Bob Behnken and Doug Hurley earlier this year.

Currently scheduled for 2:40 a.m., the historic launch known as Crew-1 will include four passengers,...Read more

Joe Burbank/Orlando Sentinel/TNS

Walt Disney Co. is laying off 28,000 U.S. employees

Business / Business News /

ORLANDO, Fla. - Walt Disney Co. revealed Tuesday it is laying off 28,000 U.S. employees, including some at Walt Disney World.

Josh D'Amaro, the chairman of Disney Parks, Experiences and Products, said the layoffs are happening as the coronavirus has hurt business, and because California has not lifted restrictions for Disneyland to reopen.

"We...Read more

Handout/Dreamstime/TNS

Private employers show new interest in expanded Medicare and regulated drug prices

Business / Business News /

WASHINGTON - U.S. employers, battered by rising hospital and pharmaceutical prices, are increasingly open to a bigger government role in healthcare, including regulating prices and expanding Medicare to more working Americans.

In one recent survey, more than three-quarters of responding employers said government regulation of drug prices and ...Read more

Trump ban on 'divisive' and 'anti-American' training for federal contractors has workplace diversity experts worried

Business / Business News /

Diversity and inclusion training providers are concerned recent strides in corporate America to address racial and gender disparities will take a back seat after President Donald Trump ordered restrictions on racial sensitivity training for federal contractors.

Many companies expanded their workplace diversity training programs earlier this ...Read more

General Motors/TNS/TNS

GM pushes back contract signing with Nikola as it likely renegotiates

Business / Business News /

DETROIT - General Motors has pushed back the closing date on its pending partnership with Nikola Corp., most likely to renegotiate the terms after Nikola's stock price has plummeted.

The Phoenix-based electric-truck company faces allegations of fraud, but GM has said it intends to complete the deal with the company.

On Tuesday GM issued a ...Read more

Sam Hodgson/Los Angeles Times/TNS

Column: Trump claims the economy will do better if he's reelected. History says he's wrong

Business / Business News /

Until very recently, Donald Trump was fond of proclaiming that his reelection would be a boon to the U.S. economy and the stock market.

If Democrat Joe Biden were to be elected president, he told Maria Bartiromo of Fox Business Network, "this market's going to crash" and Biden would "tax this country into a depression like in 1929."

If this ...Read more

Kimberly P. Mitchell/Detroit Free Press/TNS

Jim Farley is asking everyone he meets how to fix Ford

Business / Business News /

A couple weeks from becoming Ford Motor Co.'s next chief executive officer, Jim Farley stopped to huddle with two young field sales representatives during an event to honor employees at a Dearborn, Michigan, dealership.

"What's the one thing at Ford Motor Co. you'd like to change?" he asked them, eliciting responses about the need for more ...Read more

Jay L. Clendenin/Los Angeles Times/TNS

Hollywood workers fear harassers go unpunished, report led by Anita Hill finds

Business / Business News /

LOS ANGELES - A commission led by law professor Anita Hill surveying nearly 10,000 entertainment industry workers found few believe perpetrators of sexual misconduct will be held accountable.

The study, based on a 110-question survey, depicts a dim view of accountability in Hollywood, with 65% believing that a powerful individual, such as a ...Read more

Consumer Confidential: When the phone company and the robocall scammer are one and the same

Business / Business News /

It was the sort of robocall racket that makes life miserable for consumers.

On the one hand there was Globex Telecom, a Canadian provider of internet-based phone service.

On the other was an outfit called Educare Centre Services, which the Federal Trade Commission says peddled "bogus credit card interest rate relief, illegally charging ...Read more

Paramount Pictures/Paramount Pictures/TNS

For some Hollywood investors, the pandemic opened new doors

Business / Business News /

LOS ANGELES - When the eagerly awaited "Coming to America" and "Mission: Impossible" sequels hit theaters this year and next, Brian Oliver will see his company's credits onscreen in a way he says wasn't likely before the pandemic.

Last month, the 49-year-old Oscar-nominated producer and financier signed a more than $200-million deal with ...Read more

Kjell Redal/Seattle Times/TNS

Feds charge Amazon finance manager with insider trading

Business / Business News /

SEATTLE - The federal Securities and Exchange Commission filed suit Monday against an Amazon finance manager who allegedly leaked confidential company information to family members, allowing them to earn nearly $1.4 million by trading based on insider tips.

Bothell resident Laksha Bohra, a former manager in Amazon's Tax Division; her husband, ...Read more

Donald Miralle/Getty Images North America/TNS

Seattle's median household income soars past $100,000 — but wealth doesn't reach all

Business / Business News /

For Seattle, the 2010s were marked by the explosive growth of two things: Population and income.

Regarding population, the city ended the decade with the distinction as the fastest-growing big city in the U.S. So it seems only fitting that when it comes to income, Seattle should also close out the previous 10-year stretch with a milestone.

And...Read more

Al Seib/Los Angeles Times/TNS

Mothers are 3 times more likely than fathers to have lost jobs in pandemic

Business / Business News /

Mothers of small children have lost work at three times the rate of fathers in the pandemic, a situation that threatens not only progress toward gender equity but middle-class income gains that have become increasingly dependent on working women.

Mothers of children 12 years old and younger lost nearly 2.2 million jobs between February and ...Read more

 

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