Ford 3Q profit down 25% from 2020 on continuing chips woes

Business / Business News /

Ford Motor Co. on Wednesday reported third-quarter profit of $1.8 billion, a 25% decline from the same period last year.

The Dearborn automaker generated $1.8 billion of net income on revenue of $35.7 billion, a roughly 5% drop from revenue of $37.5 billion in the third quarter last year. The company's profit margin for the quarter was 5.1%.

...Read more

Mike Siegel/Seattle Times/TNS

Boeing returns to red ink, projects $1 billion lost from 787 quality issues

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Boeing resumed losing money last quarter, its losses caused both by continuing pandemic-driven downturn in air travel and by self-inflicted wounds such as the 787 manufacturing mess.

The aerospace giant projected Wednesday that the manufacturing quality defects that have stalled 787 deliveries will eventually cost $1 billion.

CEO Dave Calhoun'...Read more

Glen Stubbe/Minneapolis Star Tribune/TNS

COVID-19 hit at least 59,000 meat workers in pandemic's first year, report says

Business / Business News /

At least 59,000 meatpacking workers contracted the coronavirus in the first year of the pandemic as the virus rapidly spread in plants’ cramped conditions, according to internal documents from five major meat conglomerates obtained by a U.S. House subcommittee investigating the coronavirus response.

The panel’s findings offer greater detail...Read more


Illinois warns parents against cannabis look-alike treats ahead of Halloween

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The Illinois attorney general’s office issued a warning Tuesday to be extra careful about which treats end up in your child’s hands this Halloween — they could be a cannabis edible look-alike that will impart more than a sugar high.

The potentially illicit cannabis edibles, which mimic everything from Flamin’ Hot Cheetos to Skittles, ...Read more

Mandi Wright/Detroit Free Press/TNS

GM reports 40% drop in third-quarter profits, but expects strong year-end results

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General Motors reported Wednesday that its third-quarter net income plummeted 40% as it struggled against production constraints and thin new car inventory.

The auto industry has faced a global shortage of semiconductor chips since February. The chips are used in many car parts and, without them, production at many GM plants has either slowed ...Read more

TOLGA AKMEN/AFP/Getty Images North America/TNS

Facebook, Netflix protests show tech workers aren't afraid to take complaints public

Business / Business News /

Silicon Valley has a powerful new adversary: its own workforce.

Attracted by high salaries, world-class perks and the promise of being able to make a positive difference in the world, employees of the biggest tech and internet companies have long ranked high on measures of job satisfaction and loyalty. But with their companies frequently at the...Read more


FAA flags potential safety problem in layout of controls on Boeing 767 and 757 planes

Business / Business News /

The Federal Aviation Administration has issued a safety alert to all operators of Boeing 767 and 757 airplanes flagging a potential problem that led to the 2019 crash in Texas of an Amazon Air cargo plane and the deaths of the three pilots onboard.

Although the first officer flying the plane was faulted in the investigation into the crash, the...Read more


Tech Q&A: How to stop Edge web browser promotions in Windows 10

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Q: I dislike Microsoft's frequent interruptions of my work in Windows 10. How can I keep the Windows 10 news feed from continually popping up when I'm trying to write an e-mail? The news feed window covers part of the screen on the right side.

Also, how can I stop Microsoft from bombarding me with messages to switch from the Google Chrome ...Read more

Ricardo B. Brazziell/Austin American-Statesman/TNS

New Texas task force aims to boost state's semiconductor industry

Business / Business News /

Texas is already home to some of the highest levels of semiconductor output in the nation, but as the industry sees unprecedented federal investment, industry leaders want to ensure the Lone Start State remains at the forefront.

Gov. Greg Abbott has created a semiconductor task force that will work to attract semiconductor investment into the ...Read more

Ellen M. Banner/The Seattle Times/TNS

As climate concerns threaten air travel, aviation industry banks on technology solutions

Business / Business News /

As aviation struggles to emerge from the historic, pandemic-driven downturn, another longer-term challenge already looms. Concern about air travel's contribution to climate change threatens to curtail growth of an industry that has expanded steadily for decades, shrinking the world for travelers and connecting the global economy.

The airline ...Read more

Rod Lamkey/CNP/Zuma Press/TNS

Chopra brings Big Tech scrutiny to new consumer protection post

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During his time on the Federal Trade Commission, Rohit Chopra made a point of scrutinizing the business practices of big technology companies such as Facebook, Google and Amazon.

Now, much to the delight of progressives in Washington, he appears to be bringing the same focus to his new job as leader of the Consumer Financial Protection Bureau. ...Read more


Motormouth: How to get rid of a car

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Q: I have a 2006 Hyundai Tucson GLS with approximately 123,000 miles. I have all original documents (keys, manuals, title) and it is in fair condition. It has been parked outside and not used for over a year. It will most likely need to be towed. I stopped driving due to medical issues and my wife is the primary driver using her own car. What is...Read more


Contra Costa County shuts down In-N-Out over failure to follow vaccine rules

Business / Business News /

Contra Costa County, California, health officials on Tuesday ordered the In-N-Out restaurant in Pleasant Hill temporarily closed for defying COVID-19 vaccination rules for indoor dinners.

The action comes a week after the county fined the popular fast-food burger joint $750 for twice violating the rules, which require restaurants to ask ...Read more

Antonio Perez/Chicago Tribune/TNS

McDonald's employees, activists protest alleged sexual harassment outside downtown headquarters

Business / Business News /

About three dozen McDonald’s workers and activists walked down Randolph Street in West Town Tuesday afternoon to protest alleged sexual harassment at the fast-food giant’s restaurants.

Members of the group carried signs saying “My smile is not on the menu” and “Sexual harassment is unacceptable” as they gathered outside the company�...Read more

Kawee Srital On/TNS

Consumer Confidential: Not all debt is collectable. Be mindful of the statute of limitations

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Some businesses and debt collectors may want you to think your financial obligations will trouble you forever unless you come across with some cash.

What they don't usually tell you is there are laws that limit the length of time in which you can be effectively sued for any unpaid bills.

In California, the statute of limitations for consumer ...Read more


Consumers turn to 'buy now, pay later,' stoking worry about repayment ability

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Well-established companies such as The Goldman Sachs Group Inc. and Mastercard Inc. are diving headlong into a financial technology product that some critics fear poses risks to consumers.

The service, known as “buy now, pay later,” or BNPL for short, is a twist on the old-fashioned layaway plans once offered by retailers. The difference is...Read more


Elizabeth Holmes trial: Another bruising day in court for Theranos founder Holmes

Business / Business News /

In another bruising day for Theranos founder Elizabeth Holmes in her criminal fraud trial, an investment manager for the family of former U.S. Secretary of Education Betsy DeVos testified Tuesday that Holmes’ claims were key to the family’s decision to invest $100 million in the firm.

Lisa Peterson testified in U.S. District Court in San ...Read more

Susan Tompor/Detroit Free Press/TNS

Susan Tompor: I-Bond rates can be an inflation hedge

Business / Business News /

As the cost of bacon and other goods sizzles, more people want to protect their savings from getting burnt to a crisp by inflation.

One simple move, which I wrote about this past summer as well, involves setting aside some money in inflation-protected savings bonds, known as I Bonds.

You're likely going to hear even more about I Bonds come ...Read more

Russ Mitchell/Los Angeles Times/TNS

Tesla's $1 trillion valuation belies revenue position

Business / Business News /

Tesla Inc. has joined the trillion-dollar-valuation club as the member with the lowest revenue.

The electric-vehicle maker’s shares have run past several milestones over the past couple weeks amid a rush of positive news, including reaching a rarefied $1 trillion in market value on Monday. That helped further bolster sentiment among investors...Read more

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GM to restart limited Bolt production to make loaner cars for owners with recalls

Business / Business News /

General Motors is restarting the plant that makes its Chevrolet Bolt electric vehicles for a limited time to strictly make courtesy loaner cars for the 140,000 Bolt owners affected by global recall.

On Tuesday, GM said that starting Monday, it will bring back the 1,000 workers at Orion Assembly in Orion Township, Michigan, to start making 2022 ...Read more