Fifth Third-MB merger accelerates trend of bank branch closures

Business / Business News /

CHICAGO -- Fifth Third Bank's proposed acquisition of Chicago-based MB Financial could mean 20 percent of the combined company's local branches close by the end of next year.

A cost-saving move aimed at eliminating "branch overlap" resulting from the $4.7 billion merger, the proposed closures would accelerate a broader trend: Banks nationwide ...Read more

Marine Corps tells company to quit using its name to sell promotional baseball jerseys

Business / Business News /

A popular retail chain surrendered to the Marines on Tuesday, following a warning from the Corps to quit using its name to sell Memorial Day merchandise.

By late afternoon, -- part of the larger Indianapolis-based Hats Inc. that includes LIDS Sports Group and Locker Room outlets -- had abandoned a recently-unveiled online ad campaign. ...Read more

Bill easing bank regulations heads to Trump, but falls short of overhaul GOP wanted

Business / Business News /

WASHINGTON -- Bipartisan legislation focused on easing regulations for small and mid-sized banks passed the House on Tuesday and headed to President Trump for his expected signature.

Although the bill provides some significant relief for larger financial institutions, it falls short of the sweeping overhaul of the Dodd-Frank post-crisis reforms...Read more

Mountain View eyes tax that that could charge Google millions

Business / Business News /

MOUNTAIN VIEW, Calif. -- Google could be slapped with a new tax in its home town of Mountain View under a plan that is being eyed by municipal officials that's due to be debated by council members this week.

A series of models are being contemplated by Mountain View officials, including one that could impose a tax of as much as $5.5 million a ...Read more

Elon Musk: Tesla workers don't want to unionize

Business / Business News /

At Tesla, CEO Elon Musk says its workers could vote to unionize "tomorrow if they wanted."

Musk's statement, in response to a tweeted question Monday, comes as Tesla is facing a federal labor complaint over accusations of union-busting.

As he sometimes does, Musk waded into a heated discussion on Twitter over a media report that he was aiming ...Read more

Bernie Sanders to speak out for higher wages for Disneyland workers

Business / Business News /

Former Democratic presidential candidate Bernie Sanders is injecting himself into the campaign by Disneyland resort workers demanding to get paid a "living wage."

The U.S. senator from Vermont will be a featured speaker at a June 2 Anaheim rally, alongside union leaders who have been calling for higher wages for workers at Disneyland, ...Read more

Zuckerberg irks EU lawmakers after dodging Facebook questions

Business / Business News /

Facebook Inc. founder Mark Zuckerberg left European Union lawmakers fuming over unanswered questions at the end of a hearing that began with a mea culpa for the company's recent privacy woes.

At a meeting at the EU Parliament, Zuckerberg repeated what he's been telling every audience recently: that his company didn't take a broad enough view of...Read more

Former J.C. Penney CEO to take over as CEO of Lowe's

Business / Business News /

Lowe's announced Tuesday morning that it has named former J.C. Penney CEO Marvin Ellison its new CEO, effective July 2. Ellison succeeds Robert Niblock, who announced his plans to step down as chief executive in late March.

The Mooresville, N.C.-based home improvement retailer called Ellison a 30-year retail industry veteran who brings "...Read more

LA region's 'creative economy' produced 457,400 jobs in 2016, driven by Hollywood rebound

Business / Business News /

The creative economy of the Los Angeles region saw significant job growth between 2011 and 2016, with statewide creative employment now exceeding the pre-recession highs observed more than 10 years ago, according to a new study.

The annual Otis Report on the Creative Economy, which was released Tuesday, noted that direct employment in the Los ...Read more

Mueller targeted flows of money to Israeli social media company

Business / Business News /

WASHINGTON -- Special counsel Robert Mueller's team has asked about flows of money into the Cyprus bank account of a company that specialized in social media manipulation and whose founder reportedly met with Donald Trump Jr. in August 2016, according to a person familiar with the investigation.

The inquiry is drawing attention to PSY Group, an...Read more

Michael Hiltzik: Income inequality is going to hit tomorrow's retirees hard

Business / Business News /

One of the mysteries of personal finance has been the disconnect between the income inequality afflicting the working public and the claims by fiscal conservatives that most people's retirement lifestyles will be perfectly comfortable.

A recent post on the Squared Away blog of Boston College's authoritative Center for Retirement Research solves...Read more

ACLU asks Amazon to stop selling facial-recognition tools to governments

Business / Business News /

When the Washington County Sheriff's Office in Oregon started using Amazon's facial-recognition software in 2016, deputies welcomed a new tool to quickly identify suspects and solve cases.

The American Civil Liberties Union (ACLU) saw something different: a troubling extension of the government's ability to keep an eye on its citizens.

The ...Read more

Mick Mulvaney must leave as CFPB chief soon, unless Trump nominates somebody — anybody — else for the job

Business / Business News /

WASHINGTON -- Time is running out on Mick Mulvaney's tenure as acting head of the Consumer Financial Protection Bureau, but there's an easy way for the White House to extend his tenure: nominate somebody -- anybody -- else to permanently fill the job.

As it stands now, Mulvaney must step down from his job temporarily running the bureau next ...Read more

FDA approves drug to control life-threatening bleeding in patients with liver disease

Business / Business News /

DURHAM, N.C. -- Dova Pharmaceuticals received federal approval Monday for a first-of-its-kind drug to control life-threatening bleeding in people with chronic liver disease.

The Durham start-up plans to start selling the medication, named Doptelet, next month. The pill is designed for chronic liver patients who are planning a minor medical ...Read more

Securian becomes Securian Financial, launches new advertising push

Business / Business News /

Securian, the St. Paul, Minn.-based life insurance and financial services company, added the word "Financial" to its name on Monday as part of a rebranding and marketing campaign aimed at reaching consumers directly.

The 138-year-old company, for decades known as Minnesota Mutual Life Insurance, unveiled a new Securian Financial logo and ...Read more

Best Buy expands Geek Squad's role with nationwide rollout of 'Total Tech Support'

Business / Business News /

The geeks in Best Buy's Geek Squad have long taken on one-time tasks for customers, such as fixing a broken laptop or installing a new TV.

But as consumers fill their homes with more connected gadgets -- and as the Richfield, Minn.-based retailer looks to develop revenue beyond transactions -- Best Buy is expanding Geek Squad services to all ...Read more

As more cancer patients survive, workplace protections fall short

Business / Business News /

Months after surgeons removed part of her jawbone due to cancer, Adrienne Frank was still recovering. She needed a feeding tube because she couldn't eat, had trouble speaking and was suffering a lot of pain.

And more treatment was on the horizon: She had received her sixth oral cancer diagnosis in 11 years when doctors found that the cancer had...Read more

Liz Reyer: How to confront trash talk on your work team

Business / Business News /

Q: After a team member left the company, I found indications that he was trash talking about me with other team members. Now I am having trouble trusting them and their loyalty to me and the team. How can I handle this?

--Francis, 40, head of communications

A: It doesn't pay to write off your team based on your departed staff member's behavior...Read more

Your Office Coach: Never surprise your boss

Business / Business News /

Q: Despite having a stellar employment record, I am concerned about two incidents mentioned during my recent performance review. Both involved accusations which were completely unfair.

Several months ago, our human resources manager told me that I was suspected of harassing another employee. She refused to reveal the nature of the offense or ...Read more

Snubbed UK lawmakers send Zuckerberg questions to Brussels

Business / Business News /

LONDON -- Facebook Inc. co-founder Mark Zuckerberg, who has so far refused to appear before U.K. lawmakers over the Cambridge Analytica scandal, may indirectly face questions from London on Tuesday after parliamentarians appealed to their counterparts in Brussels for help.

Damian Collins, chairman of the House of Commons Digital, Culture, Media...Read more