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UnitedHealth's 'negligence' in hack merits probe, Wyden says

Business / Business News /

Sen. Ron Wyden called for regulators to investigate UnitedHealth Group Inc. over what he described as “negligent” security that led to one of the largest hacks in the history of U.S. health care.

Wyden, an Oregon Democrat, asked the Federal Trade Commission and the Securities and Exchange Commission to probe the company’s “numerous ...Read more

US Steel, Nippon deal clears overseas antitrust reviews. US approval still pending

Business / Business News /

U.S. Steel and Nippon Steel Corporation said Thursday that the companies' proposed transaction has cleared all overseas regulatory hurdles.

The companies said Nippon's proposed $14.1 billion acquisition of U.S. Steel received the go-ahead from antitrust authorities in Europe, Mexico, Serbia, Slovakia, Turkey and the United Kingdom.

The ...Read more

Amazon/TNS/TNS

Amazon is expanding US drone service after regulator's nod

Business / Business News /

Amazon.com Inc.’s Prime Air drone program has been cleared by US regulators to fly devices beyond the visual line of sight of pilots, increasing range and giving more customers access to the service.

The approval, which means pilots won’t need to be able to see the drones with their own eyes, will allow Prime Air to scale deliveries in the...Read more

Robin Platzer/Zuma/TNS

Nelson Peltz cashed out his Disney stake after losing his proxy fight

Business / Business News /

In the end, veteran investor Nelson Peltz came away with a big win in his battle with the Walt Disney Co.

Peltz's Trian Fund Management sold its Disney shares after Peltz lost his hard-fought campaign to join the Burbank entertainment giant's board of directors and exert influence over the Magic Kingdom.

Last month, Disney shareholders ...Read more

Daniel Mears/The Detroit News/TNS

Detroit officials are in 'brainstorming mode' on Renaissance Center's future

Business / Business News /

Dan Gilbert said he and other business and government leaders are still in "brainstorming mode" for what to do with downtown Detroit's Renaissance Center, the General Motors Co. global headquarters that the automaker will vacate next year.

"I couldn't tell you the actual specific uses, but I will tell you that the mayor, and the city government...Read more

Henry Payne/The Detroit News/TNS

Ford CEO says 'partial electrification' is more than 'transitional'

Business / Business News /

Ford Motor Co. CEO Jim Farley said Thursday that "partial electrification" options like hybrids and extended-range electric vehicles are more than just "transitional" technologies.

The auto industry over the past year has reevaluated all-electric vehicle adoption timelines, given affordability and range challenges. Ford and others have ...Read more

Robyn Beck/Getty Images of North America/TNS

Stellantis CEO says 'cost-cutting race' of EV transition will especially hit suppliers

Business / Business News /

The electric vehicle transition is a game of severe cost-cutting, and automotive suppliers must figure out how to adapt or risk going under in the next five to 10 years, Stellantis NV CEO Carlos Tavares warned Wednesday.

EVs cost 40% to 50% more to produce than gas-powered cars on average, he said. That means automakers like Stellantis are "not...Read more

Allen J. Schaben/Los Angeles Times/TNS

Ocean technology hub AltaSea blooms on San Pedro waterfront

Business / Business News /

A moon shot to make Southern California an international leader in the “blue economy” is taking shape in San Pedro as a $30-million renovation of three historic waterfront warehouses nears completion.

AltaSea at the Port of Los Angeles, as the complex is known, is home to sea-centered businesses such as the headquarters of explorer Robert ...Read more

Amy Beth Bennett/South Florida Sun-Sentinel/TNS

Number of 'millionaire cities' rises to 17 in South Florida. Here's a look at the communities

Business / Business News /

South Florida now has a larger number of “millionaire cities.”

There are 17 cities in South Florida where the typical home is worth at least $1 million, according to an analysis done by Zillow, in which it identified its millionaire cities across the country. That’s compared with 16 last year.

Newly on the list this time: Palmetto Bay, a...Read more

Dai Sugano/Bay Area News Group/TNS

One San Jose tiny home shelter is successfully moving people to housing. Can it be a model for other sites?

Business / Business News /

San Jose, California, more than any other Bay Area city, has embraced tiny homes as a solution to homelessness.

Since 2020, the city has developed six tiny home sites with around 500 beds. Three upcoming locations will add more than 700 new beds. The facilities provide rent-free private units, some with individual bathrooms, as well as shared ...Read more

Real estate Q&A: How can I circumvent neighbor's refusal to allow pool installation equipment on her property?

Business / Business News /

Q: I want to install a pool in my backyard, but my neighbor won’t agree to let the contractor use any portion of her side yard to get equipment in and out even though I agreed to pay for all repairs and landscaping to put things back to how they were. What do I do? —Jennifer

A: You are in a difficult situation. You want to use your property...Read more

Drew Angerer/Getty Images North America/TNS

Slotkin bill seeks permanent review process for high-tech Chinese cars

Business / Business News /

WASHINGTON — Democratic U.S. Rep. Elissa Slotkin released new legislation Wednesday aimed at ensuring federal review of high-tech cars coming from China.

Her bill would codify parts of executive actions from the Trump and Biden administrations that directed the Commerce Department to investigate national security threats from Chinese ...Read more

Wally Skalij/Los Angeles Times/TNS

California consumer group blasts insurance bill backed by Newsom

Business / Business News /

A bill backed by Gov. Gavin Newsom that is intended to halt more exits from California's troubled homeowners insurance market by speeding up reviews of proposed rate hikes drew sharp criticism Wednesday from an influential consumer group.

The administration this week released the draft of a bill Newsom proposed this month that he said would ...Read more

Anna Moneymaker/Getty Images North America/TNS

Cuba's entrepreneurs could open US bank accounts soon. Here's a look at how it would work

Business / Business News /

The Biden administration this week modified the regulations on the U.S. embargo on Cuba to allow private entrepreneurs on the island to open and manage U.S. bank accounts, a big bet to support the private sector on the island.

However, the new policy requires several steps before Cubans can take advantage, and several issues are still up in the...Read more

Jonathan Weiss/Dreamstime/TNS

Lilly, Amazon pump billions into Indiana's industrial resurgence

Business / Business News /

An industrial renaissance is fueling record capital inflows into Indiana, putting the Midwestern state on pace to surpass last year’s almost $29 billion in investments.

Eli Lilly & Co. last week pledged to spend $5.3 billion in the state to expand a site that makes a key ingredient in the weight-loss and diabetes drugs that have exploded in ...Read more

Mandel Ngan/GETTY IMAGES NORTH AMERICA/TNS

Michael Hiltzik: With Live Nation lawsuit, government signals it's fed up with alleged corporate scofflaws

Business / Business News /

Is there a better example of arrogant corporate behavior than flouting a government decree — not once but multiple times? That's the question raised by the antitrust lawsuit against the giant concert and ticketing conglomerate Live Nation alleging a raft of monopolistic practices.

The lawsuit, filed Thursday by the Department of Justice, 29 ...Read more

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Ring has a new mission. 'Hey, there's raccoons in my backyard'

Business / Business News /

For years, Ring touted its crime-fighting bona fides, selling smart doorbells that let homeowners remotely monitor their residences — and sometimes share what they recorded with local police. Now the Amazon.com Inc. unit is looking to transform itself into a smart-camera business with a cheery social-media side hustle, sort of a mashup between...Read more

Henry Payne/The Detroit News/TNS

Revealed: See Cadillac's latest EV, the Optiq

Business / Business News /

DETROIT — Cadillac on Wednesday revealed its newest all-electric offering, the Optiq SUV — its entry-level EV that will hit dealer lots later this year with the goal of attracting new customers to the luxury brand.

Cadillac debuted the 2025 Optiq with an event to celebrate the opening of a Cadillac City Paris store as the brand pushes ...Read more

Henry Payne/The Detroit News/TNS

Henry Payne: 5 noteworthy things about the Cadillac Optiq EV

Business / Business News /

DETROIT — Cadillac is bringing the bling for its all-electric future with the extravagant, custom-built, $350k Celestiq sedan and the $100k Escalade Q mega-SUV.

And its entry-level Cadillac Optiq ain’t too shabby either.

Studded with many of the gem-like features found in the midsize Lyriq — Caddy’s first EV entry launched for the 2023...Read more

Dreamstime/Dreamstime/TNS

Meta removes AI-generated influence campaigns in China, Israel

Business / Business News /

Meta Platforms Inc. removed hundreds of Facebook accounts associated with covert influence campaigns from China, Israel, Iran, Russia and other countries, some of which used artificial intelligence tools to generate disinformation, according to the company’s quarterly threat report.

Meta, the parent of Facebook, Instagram and WhatsApp, has ...Read more