Why Trump is using Henry Ford, gas mileage to call out automakers on Twitter

Business / Business News /

President Donald Trump is angry with automakers, including Ford, that have signed onto a deal with California for fuel-economy standards that are tougher than what the administration wants.

"Henry Ford would be very disappointed if he saw his modern-day descendants wanting to build a much more expensive car, that is far less safe and doesn't ...Read more

The Week Ahead: Consumers are key to recession worries

Business / Business News /

The recession fears are real. A recession isn't.

Emotions and facts often compete for investors' attention. The friction between the two drives short-term price changes.

The economy will fall into a recession. The business cycle ebbs and flows. What worries investors is when will the contraction come and how bad will it be.

It's impossible, ...Read more

An oil pipeline got approved without controversy in Minnesota? Seems so

Business / Business News /

The notion of a noncontroversial new oil pipeline seems quaint these days, yet Minnesota utilities regulators Thursday approved just such a project.

Enbridge got the green light to reroute a 10-mile stretch of its "Line 4" crude oil pipeline through the Fond du Lac Reservation. The Fond du Lac Band of Lake Superior Chippewa requested and ...Read more

Riot Games settles class-action suit by female employees who alleged harassment and discrimination

Business / Business News /

Riot Games has settled a class-action lawsuit filed by workers who said they were routinely subjected to sexual harassment and discrimination in the course of their jobs at the Los Angeles video game studio.

The suit originated last November when two women who had worked at the company, which is owned by the Chinese technology giant Tencent, ...Read more

Amazon ends controversial practice of using tips to meet drivers' wage guarantees

Business / Business News /

Amazon delivery drivers were surprised to learn earlier this year that the e-commerce giant would at times dip into their tips to cover their promised wages. That's about to change, according to an email the company sent drivers on Wednesday.

Amazon will start to give a full breakdown of how much Flex drivers, who deliver for the company's ...Read more

Former Hulu executive leaves Quibi in high-level shakeup at streamer

Business / Business News /

SAN FRANCISCO -- Tim Connollly, the head of partnerships and distribution for streaming video start-up Quibi, has left the company as part of a reorganization.

Connolly, a former Hulu executive who joined in 2018, has exited and the team that reported to him has been reorganized, according to a person familiar with the matter who declined to be...Read more

Former members of Trump's Doral golf club may wait the rest of their lives for refunds from the president

Business / Business News /

MIAMI -- Golfers who quit their memberships at Trump National Doral after the property's namesake became president were aiming to lose their link to a man they do not support. Turns out they could be waiting for Trump to pay them back for the rest of their lives.

Two longtime golf members who resigned weeks after Trump won the 2016 presidential...Read more

'Robocalls are a scourge.' Phone companies pledge to combat them in deal with states

Business / Business News /

WASHINGTON -- The average American has received more than 100 robocalls already this year: annoying and unwanted calls, scammers looking to exploit vulnerable populations, and all manner of alerts -- some important and others simply fake.

Twelve of the nation's largest phone companies, including AT&T, Sprint, T-Mobile, Verizon, Charter and ...Read more

Uber faces another sexual harassment lawsuit from female engineer

Business / Business News /

A former Uber software engineer is suing the company, saying it fired her after she reported sexual harassment and discrimination.

In a lawsuit filed this week in San Francisco County Superior Court, Yingnan Li claims she was subjected to harassment, was denied equal pay and a promotion, and eventually was terminated after complaining about her...Read more

Apple looking to new iPhones to spur upcoming holiday sales: report

Business / Business News /

Apple may be putting more emphasis on services such as Apple Music and its upcoming Apple TV+ streaming television offering, but that doesn't mean the tech giant is giving up on its iconic products in any way.

As an example of that, Apple is expected to hold an event in September in which it will unveil not only new models of the iPhone, but ...Read more

Amazon is harnessing the 'strange and remarkable' growth of independent sellers with new tools, investments

Business / Business News /

While Amazon first opened its selling apparatus to independent businesses in 1999, the company's courtship of and reliance upon them has gained a new prominence this year, most recently with a suite of tools, services and investments detailed Thursday.

Jeff Bezos began his tone-setting annual letter to shareholders in April by describing the ...Read more

Is Trump relying on American consumers to save the economy from recession?

Business / Business News /

WASHINGTON -- As President Trump considers tax cuts to bolster a weakening economy and his reelection prospects, the financial wild card may be the American consumer.

Consumer spending of late has outperformed expectations, compensating for the softness in business investments, manufacturing and net exports due largely to Trump's trade war with...Read more

Renters are being forced out of Philadelphia apartments to make way for tourists

Business / Business News /

PHILADELPHIA -- Residents of the Lofts at 509 Vine apartments near Philadelphia's historic Old City are to be replaced with business travelers and tourists, as the property becomes the latest in the city to fall under the control of a new breed of tech-enabled startups that are converting residential real estate into visitor accommodations.

...Read more

'Super commuters' not slowing down in California. Lack of housing to blame

Business / Business News /

The majority of Californians drive to work, but an increasing number face commutes well over an hour-long to reach jobs in larger cities. For now, at least, the rise of the super commuter is not slowing down, according to an analysis of census data by Apartment List.

In 2017, 41 out of 58 counties saw at least moderate growth in the share of ...Read more

Real estate Q&A: My great condo deal could now cost me a ton of money

Business / Business News /

Q: I got a great deal on a condo that the seller had bought at a foreclosure sale and cleaned up. I used my savings and did not take a mortgage. Now I am concerned that I did not get such a great deal because the condo association is demanding a lot of money. To make matters worse, I just got a letter from a mortgage company demanding payment. ...Read more

As Trump presses trade war, farmers feel the squeeze

Business / Business News /

Many Midwestern farmers decided last winter to plant soybeans in spring assuming that, by now, President Donald Trump's trade war with China would be over and China would be back to buying about a third of soybeans grown in the United States.

"At that time, trade negotiations were moving along, and it wasn't looking that bad," said John ...Read more

Urban Outfitters could increase prices a few dollars and 'no one would notice,' CEO says

Business / Business News /

The only negatives Urban Outfitters, Inc., CEO Richard Hayne said he sees in front of the company are political ones.

"Trade wars and Brexit," he told analysts on a Tuesday conference call.

Philadelphia-based Urban Outfitters, the parent company of Urban Outfitters, Anthropologie, Free People, BHLDN, Terrain, and the new clothing subscription ...Read more

Consumer Confidential: CEOs say they care about customers and workers. Propaganda experts are unimpressed

Business / Business News /

Kenneth Osgood studies propaganda. So he knew what he was seeing when business leaders announced this week that they don't just care about shareholders -- they care about customers, workers and society.

"I raised my eyebrows really high when I saw this," Osgood, a history professor at Colorado School of Mines, told me.

He said it instantly ...Read more

Kids are dying in hot cars at an alarming rate; safety agency tweets for awareness

Business / Business News /

The numbers are sickening: 10 children dead in 20 days.

They were little girls and boys who died in hot cars just in the last few weeks, a growing crisis that's perplexing in part because experts say the deaths are both unintentional and preventable.

Some automakers have deployed technological solutions, but making them standard on all new ...Read more

$960 billion deficit expected this year, more than $1 trillion next

Business / Business News /

WASHINGTON -- The Congressional Budget Office has upped its estimate of current and future deficits largely as a result of the two-year budget deal enacted last month, which the agency projects will add $1.7 trillion in red ink over 10 years.

That forecast assumes that the increased spending in fiscal 2020 and 2021 thanks to the higher caps ...Read more