Jerry Jackson / Baltimore Sun/Baltimore Sun/TNS

Sinclair reorganizes, drops 'Broadcast' from name

Business / Business News /

Sinclair Broadcast Group completed a restructuring Thursday in which it dropped “broadcast” from its name in a bid to highlight its non-broadcast business.

The Maryland-based television station owner finalized the reorganization through a share exchange in which Sinclair Inc. became a public holding company of Sinclair Broadcast Group and ...Read more

JEFF KOWALSKY/AFP/Getty Images North America/TNS

'Pony up:' UAW leadership details priorities for Detroit Three contract talks

Business / Business News /

The United Auto Workers' bargaining strategy for upcoming contract talks with the Detroit automakers came into sharper focus Wednesday as union leaders spelled out their top priorities.

They are: ending tiered wage and benefit structures; reinstating cost-of-living adjustments; and securing stronger job protections. The UAW's top five leaders ...Read more

Greg Gilbert/The Seattle Times/TNS

Supreme Court rules against Seattle truckers union in fight with concrete firm

Business / Business News /

The U.S. Supreme Court has ended a six-year fight between unionized Seattle truck drivers and a major local concrete supplier, ruling against the union in a decision that may impact organized labor across the country.

In an 8-1 decision, the court found that because the union representing the drivers did not take sufficient precautions to ...Read more

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Former Wells Fargo exec misled investors, SEC said. She'll pay $3M to settle case

Business / Business News /

A former Wells Fargo executive agreed to pay a $3 million penalty to settle Securities and Exchange Commission charges that she misled investors.

From 2014 to 2016, Carrie Tolstedt publicly endorsed a key Wells Fargo metric that measured the bank’s financial success, according to the SEC. But the metric was inflated by accounts and services ...Read more

Justin Sullivan/Getty Images North America/TNS

Bipartisan bill to make Big Tech pay publishers for news advances despite Meta threat

Business / Business News /

A bipartisan California bill that would require big technology companies to pay publishers for using news reports that help drive their profits passed the state Assembly, despite a threat this week from Facebook parent Meta that the law would spur it to remove news articles from its platforms.

The state Assembly voted 46-6 to pass AB 886, the ...Read more


DMV can't be trusted to prevent crashes by driverless trucks, California legislators say

Business / Business News /

When Teslas are in self-driving mode, they've been recorded crossing into oncoming traffic and hitting parked cars. But what would happen if an 80,000-pound, 18-wheel driverless truck suddenly went off the rails?

That's an experiment some California legislators aren't ready to run. They argue that the state Department of Motor Vehicles has so ...Read more

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Meta threatens to pull news from Facebook, Instagram if California bill passes

Business / Business News /

Californians may no longer be able to read daily news from their Facebook and Instagram feeds if the state Legislature passes a bill forcing tech platforms to pay publishers.

That's the threat parent-company Meta issued on Wednesday via Twitter.

"If the Journalism Preservation Act passes, we will be forced to remove news from Facebook and ...Read more

John J. Kim/Chicago Tribune/TNS

Cook County program touted as one of the 'top eviction prevention innovations' has drawn praise, pushback

Business / Business News /

A Cook County, Illinois, program implemented during the height of the pandemic to provide legal and financial support to landlords and tenants behind on their rent has dramatically slowed down the eviction process, drawing praise and pushback from renters and property owners.

The initiative, known as the Early Resolution Program, launched in ...Read more

Natrice Miller/The Atlanta Journal-Constitution/TNS

CNN gets new chief operating officer amid ratings decline

Business / Business News /

CNN has faced audience losses and is struggling to forge a new identity under parent company Warner Bros. Discovery during the past year.

Now the corporate owner is putting one of its own in the second-in-command position at the cable news network. CNN announced Thursday that David Leavy will take on the new role, putting him in charge of ...Read more

Real estate Q&A: Whose insurance covers water damage from condo building?

Business / Business News /

Q: I read your articles about what to do if your neighbor causes damage to your apartment. Please explain what to do if the water comes from our condo building, such as from a poorly maintained drain pipe or a burst water line. Does the building’s insurance cover this, and what happens if our association stops carrying insurance? —James

A: ...Read more

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Michael Hiltzik: Short selling makes markets work better. So why do banks want to outlaw it?

Business / Business News /

The very human instinct to seek scapegoats for every crisis is playing out again on Wall Street.

As so often happens, this time the target is short selling, which supposedly is helping to drive banking stocks lower.

As so often also happens, the loudest cries for relief are coming from the people most responsible for the stocks' decline — in...Read more

Viasat boosts satellite Internet footprint globally with completion of Inmarsat acquisition

Business / Business News /

Viasat, based in Carlsbad, California, has completed its $6.1 billion acquisition of London-based Inmarsat on Wednesday — accelerating the company's bid to become a global supplier of satellite broadband for aircraft, ships, governments and hard-to-reach residences.

The combined company operates 19 communications satellites worldwide, with ...Read more

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Facebook owner Meta will chop 1,100-plus additional Bay Area jobs

Business / Business News /

MENLO PARK, California — Facebook app owner Meta Platforms has revealed plans to chop at least 1,100 more Bay Area jobs, a disquieting series of layoffs that are poised to deal a fresh jolt to the region’s wobbly tech sector.

The new layoffs affect Meta employees in Menlo Park, San Francisco, Sunnyvale and Fremont, according to official ...Read more

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Space Coast bases named 'preferred' location for Space Force training HQ

Business / Business News /

Florida's Space Coast lost out on getting the Department of Defense’s U.S. Space Command headquarters last year, but its two military installations have been named the preferred location for a smaller entity, the Space Force’s training headquarters known as STARCOM, according to an announcement from U.S. Air Force Secretary Frank Kendall.

...Read more

Toyota adds $2.1 billion to expand NC battery plant, total now almost $6 billion

Business / Business News /

Construction is underway at Toyota’s battery plant south of Greensboro, North Carolina, and this week the carmaker announced it’s investing another heavy sum into the future facility.

The company will direct an additional $2.1 billion to support future expansion at the facility, Toyota said in a press statement Wednesday. In 2025, the plant...Read more

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Federal government to require automatic emergency braking in new vehicles

Business / Business News /

WASHINGTON — The Biden administration plans to require all new light-duty vehicles to come with automatic emergency braking, officials announced Wednesday.

The announcement comes amid consistently high traffic deaths after a spike in crashes during the pandemic. Leaders at the National Highway Traffic Safety Administration estimated the rule,...Read more

Juan Figueroa/The Dallas Morning News/TNS

Bank of America CEO: Capitalism is 'only hope' to accomplish world sustainability goals

Business / Business News /

In a keynote at the Mackinac Policy Conference, Bank of America Corp.'s CEO defended capitalism supported with business-friendly policy as the "only hope" to accomplish the world's sustainability and carbon-reduction goals.

The transition to a cleaner energy future is too expensive for charity, governments and individuals to foot the bill, ...Read more

Wolfspeed could miss out on millions in CHIPS Act benefits for new NC plant

Business / Business News /

Wolfspeed, the semiconductor chip manufacturer based in North Carolina's Research Triangle Park, is asking the U.S. Treasury Department to reconsider which companies qualify for a lucrative federal tax credit created under last summer’s CHIPS Act. Without the change, Wolfspeed officials say their company will be excluded from key funding for ...Read more


Conservatives call for boycott of Chick-fil-A for being 'woke'

Business / Business News /

The latest target of conservative outcry is no longer Target. Hundreds of social media users took to Twitter on Wednesday to call for a boycott of Chick-fil-A over the diversity, equity and inclusion (DEI) page on the restaurant’s website.

“(T)hey Chose Go Woke, Go Broke,” Twitter user MAGA American Patriot posted.

The controversy began ...Read more

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US job openings surge to 10.1 million, upping odds for Fed hike

Business / Business News /

Vacancies at U.S. employers unexpectedly surged in April to the highest in three months, giving the Federal Reserve more reason to consider hiking interest rates again soon.

The number of available positions increased to 10.1 million from an upwardly revised 9.75 million in March, the Labor Department’s Job Openings and Labor Turnover Survey,...Read more