FCC chief Ajit Pai has 'serious concerns' about Sinclair-Tribune deal; Tribune stock dives

Business / Business News /

Sinclair Broadcast Group's proposed acquisition of Tribune Media for $3.9 billion will go to an administrative judge after Federal Communications Commission Chairman Ajit Pai said Monday he had "serious concerns" about how Sinclair planned to divest some of the TV stations to meet regulatory scrutiny.

Pai's statement is the first time the FCC, ...Read more

The Journey: Social Security Administration is shortchanging survivors on benefits

Business / Business News /

Widows and widowers who were shortchanged on Social Security benefits by an estimated $131.8 million won't get any of that money back, despite an Inspector General report calling for action.

Earlier this year, the administration's Office of the Inspector General issued an audit report that determined the Social Security Administration underpaid...Read more

On Philanthropy: Coherent philanthropy: 6 key lessons for families

Business / Business News /

Philanthropy is "coherent" when it is logical, well-organized, well-planned and sensible -- as well as easy to understand and articulate.

Over the years, I have helped dozens of families, foundations, businesses and family offices achieve coherence in their philanthropy. In the realm of family philanthropy, here are six key lessons. (In a ...Read more

Cave diver says he might sue Elon Musk after Musk suggests he's a pedophile

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SAN FRANCISCO -- A British cave diver involved in the rescue of 12 Thai soccer players and their coach said he would consider taking legal action against Elon Musk after the Tesla Inc. and SpaceX chief executive suggested on Twitter that the diver was a pedophile.

On Monday, Vernon Unsworth told the Guardian that he was "astonished and very ...Read more

Susan Tompor: Students aren't the only ones crushed by school debt

Business / Business News /

College debt is building and, increasingly, parents are on the hook.

Where do you turn when you've maxed out on federal student loans? Ask Mom and Dad to take out some parent loans, too.

The average cumulative federal student loan debt that parents borrow even exceeds what's being taken on by students, according to new research.

On average, ...Read more

Cave diver criticizes Musk's kid-sub rescue plan. Musk suggests he's a pedophile

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LOS ANGELES -- The Elon Musk story took a bizarre turn Sunday morning, as the world famous entrepreneur took to Twitter to suggest a critic of his submarine rescue plan is a pedophile.

Musk's tweet was directed at British cave diver Vern Unsworth, who had participated in the rescue of 12 Thai children and their soccer coach from a water-filled ...Read more

'Skyscraper' collapses as 'Hotel Transylvania 3' lures family audiences to summer box office

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LOS ANGELES -- Dwayne Johnson's burly action hero was no match for a computer-animated Count Dracula at the box office this weekend.

Sony's "Hotel Transylvania 3: Summer Vacation" debuted in first place with $44.1 million, according to figures from measurement firm ComScore.

The latest in the animated "Hotel Transylvania" series, the cartoon ...Read more

Preparing to meet with Putin, Trump calls the European Union a 'foe'

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HELSINKI -- On the eve of his meeting with Russian President Vladimir Putin, President Donald Trump Sunday described the European Union as a trading "foe," further unnerving some of America's closest partners after disruptive visits to NATO headquarters and the United Kingdom.

Trump has not said what he hopes to gain from four hours of ...Read more

Trump calls European Union a US 'foe,' citing trade disputes

Business / Business News /

WASHINGTON –– President Donald Trump said the European Union is a "foe" of the U.S. in an interview after a contentious meeting last week with NATO allies.

Asked to name the U.S.'s "biggest foe globally" in an interview conducted Saturday and aired Sunday on CBS, Trump turned first to the EU, saying, "We have a lot of foes."

"I think the ...Read more

Chicago's last Sears to close for good Sunday

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CHICAGO –– Mike Lord remembers treating the Sears at Six Corners as a neighborhood hangout when he was a kid.

When his parents pushed to turn off the TV and get outside, he would sneak over to the store's TV department to watch Cubs games.

"It was my babysitter when I couldn't get friends together to play ball," said Lord, 59, who was ...Read more

Consumer Confidential: Ditching plastic straws is a good start, but the world is still buried in garbage

Business / Business News /

Environmentalists praised Starbucks' announcement this week that it will stop using plastic straws within two years, and it's indeed a laudable move.

It also barely makes a dent in the global trash crisis.

This is the part of our gotta-have-it consumer culture that people would rather not think about -- what to do with the mountains of waste ...Read more

United Airlines joins other carriers in peddling credit cards to passengers

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If you hate unsolicited sales pitches, your next flight on United Airlines might be a bit irksome.

The Chicago-based airline is requiring its flight attendants beginning Sept. 1 to pitch passengers on every domestic and international flight to sign up for a co-branded credit card to boost revenue.

In the past, flight attendants had the option ...Read more

A daughter of Detroit defies odds, takes car industry into the future

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DETROIT -- Denise Gray arrived at Buca di Beppo Italian Restaurant in Livonia, Mich., along with nearly three dozen clients and employees, for her business dinner. A well-dressed man she didn't know took her aside and expressed concern about the evening's corporate host, a Korean battery company that recently made leadership changes.

Minutes ...Read more

New staffing law, old struggles bedevil California nursing homes

Business / Business News /

LOS ANGELES -- The 93-year-old dementia patient was getting anxious in her wheelchair.

The woman, a resident of the Californian-Pasadena nursing home, wanted to see her husband but had forgotten he was at a nearby hospital.

Holding the chair steady was a composed Gabby Carrillo, a certified nursing assistant who had witnessed this behavior ...Read more

They worked at Apple, Amazon and Lyft. Now they're working to get you stoned

Business / Business News /

For much of her career, Natasha Pecor followed a path well-worn by tech workers. She built her reputation with her first employer in the industry, earning the title head of platform at Yelp. Then she jumped to one of the giants, Amazon, where she worked as a product manager.

Most recently she parlayed that experience into a leadership role at a...Read more

Microsoft calls on Congress to regulate controversial facial recognition technology

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Microsoft wants Congress to regulate facial recognition technology as concerns grow that it could be used to invade privacy and improperly monitor people.

Some civil-liberties groups and employees have called on tech companies to restrict the use of facial recognition, but Microsoft President Brad Smith wrote in a lengthy blog post Friday that ...Read more

AT&T chief Randall Stephenson questions government's challenge of takeover: 'We own Time Warner'

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The U.S. Justice Department's appeal of the AT&T-Time Warner Inc. merger could help clarify what corporate combinations are permissible -- and it also could discourage Comcast Corp. from making another run at 21st Century Fox.

Analysts on Friday puzzled over why the government would try to unravel AT&T's purchase of Time Warner after the ...Read more

Wells Fargo earnings fall as bank reports tax hit, fewer loans and deposits

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Wells Fargo & Co. on Friday reported lower-than-expected earnings for the second quarter and said it set aside nearly half a billion dollars to pay additional state taxes in the wake of a recent U.S. Supreme Court decision.

The San Francisco financial giant reported net income of $5.2 billion, or $98 cents per share, on revenue of $21.6 billion...Read more

North Dakota oil production has record May

Business / Business News /

North Dakota's oil production in May climbed to nearly 1.25 million barrels per day, hitting another record for the nation's second-largest producer of oil.

The North Dakota Department of Mineral Resources on Friday reported the data, which was up about 5 percent, or 19,000 barrels a day, from April. About 96 percent of the total 38.6 million ...Read more

Trump's trade war could threaten US pickup production and jobs

Business / Business News /

The Trump administration's burgeoning automotive trade war could threaten U.S. production of some of automakers' most popular and profitable vehicles.

At stake is an obscure 1960s tariff that effectively guarantees that every pickup and delivery van sold in the United States is built in North America, most of them in the U.S. by American ...Read more