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CBOE to reopen trading floor, but with far fewer traders and a lot more rules

Business / Business News /

CHICAGO -- The CBOE Options Exchange's trading floor, closed since mid-March because of the coronavirus, will reopen June 8 in Chicago with a host of new rules and likely far fewer traders.

Temperatures checks and medical screenings will occur at entrances. Face coverings will be required at all times. Testing for COVID-19 may occur. Six feet ...Read more

Joe Biden backs new California labor law as Uber, Lyft and DoorDash try to undo it

Business / Business News /

Joe Biden has declared himself firmly against the California initiative to overturn the new state law requiring companies to provide more benefits to app-based workers for Uber, Lyft, DoorDash and others.

The presumptive Democratic presidential nominee made his view clear in a tweet posted on the same day he got the enthusiastic endorsement of ...Read more

Black entrepreneurs say viral video at Minneapolis office gym shows racial profiling

Business / Business News /

MINNEAPOLIS -- Another video has gone viral this week, this time showing a confrontation at a private gym in uptown Minneapolis that a group of black entrepreneurs say shows racial profiling in action.

Top Figure, a Minneapolis-based social media and branding agency, posted the video to its Instagram account on Tuesday night. In it, a white man...Read more

Authorities say COVID-19 scams spreading

Business / Business News /

MINNEAPOLIS -- The claim was at least unique. A Minnesota chiropractic practice said it had a way to help patients fight off COVID-19 infection.

No long after he heard about it, state Attorney General Keith Ellison sent a letter ordering the spine adjusting business to stop advertising the coronavirus treatment or face court action.

Then, he ...Read more

Wall Street banks get a surprise: Investors like virtual events

Business / Business News /

When the pandemic hit in March, Wall Street banks scrambled to switch their long-standing investor conferences to a virtual format. They're now luring more people than traditional conferences -- perhaps obvious given how easy it is to log on -- but the popularity is even surprising people who organize them.

More than 5,000 people logged on to a...Read more

Ford pauses production at Kansas City Assembly Plant after worker tests positive for COVID-19

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DETROIT -- Ford Motor Co. temporarily paused production at the Kansas City Assembly Plant in Claycomo, Missouri, on Tuesday to deep clean after a worker tested positive for COVID-19.

A UAW official confirmed an hourly worker had tested positive and the affected area was cleaned to protect other UAW members on the line.

Kelli Felker, Ford ...Read more

NC residents searching for loans more than any other state, coronavirus report says

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North Carolina is the top state where people are searching for loans as the coronavirus shakes up the U.S. economy, a new report finds.

The state ranks No. 1 on a list of places "Where People Need Loans the Most Due to the COVID-19 Pandemic," according to the personal finance website WalletHub.

To come up with its findings, WalletHub says it ...Read more

Joseph N. DiStefano: We can't pay coronavirus business-shutdown and workers' comp claims, let Congress do it, insurers say

Business / Business News /

Insurance companies would go broke paying all the business-interruption and workers' compensation claims they could face because of coronavirus and the resulting shutdowns, according to A.M. Best, the insurance ratings agency.

Best has surveyed more than 3,000 insurers since March and says most have plenty of capital to pay the normal run of ...Read more

Instagram will help its stars make more money, taking on YouTube

Business / Business News /

Instagram will let creators profit directly from their videos, helping popular users generate more revenue during the COVID-19 crisis, while moving into more direct competition with YouTube.

Starting next week, Instagram will show ads before clips that run on its IGTV service for longer-form videos. The company plans to share 55% of the revenue...Read more

Boeing to cut nearly 10,000 jobs in Washington, more than 12,000 overall

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SEATTLE -- Boeing announced to employees Wednesday a first batch of almost 7,000 involuntary layoffs in the U.S., which added to more than 5,500 voluntary buyouts means it will cut almost 12,300 jobs company-wide.

Washington state takes the biggest hit: 9,840 Boeing jobs will be cut before July 31 in a combination of buyouts and involuntary ...Read more

A PPE fee at the dentist? New requirements could raise prices for patients

Business / Business News /

PHILADELPHIA -- When the dentist's office called to cancel Laura Lizcano's appointment for a crown and cavity filling in March because of the coronavirus, she wasn't terribly worried.

The 25-year-old freelance musician didn't know at the time that the pandemic would keep medical offices closed for months -- and prevent her from getting her ...Read more

Tech Q&A: How being online renews Office 365 PC apps

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Q: In your column about Microsoft Office 365 (see tinyurl.com/ydyhsap2), you said the user "must go online at least once every 30 days or your PC-based software will stop working." What do you mean by go online? Just connect to the internet? Use the Microsoft Edge browser? Update my Office 365 software?

-- Lauren Tiffany, Iowa City, Iowa

A: As...Read more

Warner Music Group moves forward with IPO as streaming business hums

Business / Business News /

LOS ANGELES -- Warner Music Group announced Tuesday that it is moving forward with its IPO, selling 13.7% of its common stock at $23 to $26 a share.

The IPO price range values the L.A.-based company at as much as $13.3 billion, showing optimism in the music industry, which has transformed itself by embracing the streaming revolution.

The ...Read more

Washington state aims to regulate water temperature at federal dams, wading into controversy

Business / Business News /

SEATTLE -- The Columbia is the great river of the West, winding from the north to meet its largest tributary, the Snake in Eastern Washington, then dividing the states of Oregon and Washington on its push to the sea. Big and powerful, its wild energy has been tamed to engineered stair steps controlled by locks and dams.

But what has worked well...Read more

How GM plans to bring white-collar employees back into workforce

Business / Business News /

DETROIT -- A "small number" of white collar workers are back on the job in their offices at General Motors Technical Center in Warren.

The employees started trickling back last week, around the same time GM brought back some 12,000 hourly workers to many of its North American factories.

GM had shuttered its plants in North America in mid-March...Read more

US consumer confidence stabilized in May on reopening optimism

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U.S. consumer confidence stabilized in May, indicating Americans are optimistic that the economic drubbing from the coronavirus pandemic will be short-lived.

The Conference Board's index rose by 0.9 point to 86.6, according to a report issued Tuesday. The median estimate in a Bloomberg survey of economists had called for a reading of 87.

The ...Read more

Air travel gets Memorial Day bump to levels unseen in weeks

Business / Business News /

Air travel over the Memorial Day holiday weekend returned to levels not seen since plummeting in March when stay-home orders took effect across most of the U.S.

More than 318,000 people passed through U.S. airport security checkpoints on Thursday followed by 348,673 on Friday, topping 300,000 for the first time since March 23, according to ...Read more

'Terrifying': Lake of the Ozarks worker must return to job, but fears virus in crowds

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When Tinara Lynch got a call from her employer, Land Shark Bar and Grill restaurant at Lake of the Ozarks, she felt stuck between a rock and a hard place.

Lynch, who is 21, could choose not to go back to work when the restaurant reopened, in which case she would be kicked off the unemployment benefits she'd been living off of since she and her ...Read more

Teen essential workers juggle labor, fear, stress — and remote learning — to help support their families

Business / Business News /

CHICAGO -- Before Amara Jackson leaves to work eight-hour shifts at the Whole Foods on the border of Chicago and Evergreen Park, she finishes the day's remote learning schoolwork, takes her vitamins and sips a hot mug of "Immune Support" tea, adding honey to mask the taste.

The tea, vitamins and better eating habits are among the many steps she...Read more

Merck joins the race to develop coronavirus vaccines and therapies

Business / Business News /

PHILADELPHIA -- Merck, a global leader in vaccine development, is joining the frenzied rush to vanquish the coronavirus, announcing Tuesday that it is working on two vaccine candidates and a potential drug therapy.

Merck, which is headquartered in New Jersey and has several facilities in Pennsylvania, is backing two vaccines that involve ...Read more