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Former Defense secretary applauded 'young Elizabeth' Holmes, but bloom came off

Business / Business News /

SAN JOSE, Calif. — Retired four-star general and former U.S. Defense Secretary James Mattis wrote admiring messages to Theranos founder Elizabeth Holmes after she told him of her startup’s technology, but after he joined the board he came to question her promises, jurors heard at Holmes’ criminal fraud trial Wednesday.

“There just came ...Read more

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Despite Delta variant slowing growth, Federal Reserve signals plans to start reversing some stimulus programs

Business / Business News /

WASHINGTON — Despite a still-menacing pandemic and a cascade of other domestic and international threats to the U.S. economy, Federal Reserve policymakers on Wednesday expressed confidence in the recovery and said they could soon start withdrawing stimulus programs supporting financial markets and the economy.

Fed officials, however, were ...Read more

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Tech groups sue in attempt to void Texas social media law

Business / Business News /

Two technology industry groups filed suit Wednesday is an effort to strike down a new Texas law that will let social media users sue if they or their opinions are blocked from view or removed.

Texas House Bill 20 — inspired by complaints that conservatives are frequently censored online — also will give the state attorney general the power ...Read more

Cadillac/TNS

GM's new business model turns carmaker into software company: 'A potential game-changer'

Business / Business News /

General Motors' transition to all-electric vehicles will transform the century-old automaker into a software company that just happens to make hardware: cars.

In the new business model, the cars will be a platform to deliver GM-developed software to offer consumers services beyond their vehicle. Services that can be used in their homes and ...Read more

Bob Chamberlin/Los Angeles Times/TNS

Film crews threatening to strike nationwide

Business / Business News /

Film crews are on the brink of a strike that could shut down the film and TV industry nationwide.

Negotiations have broken down between the International Alliance of Theatrical and Stage Employees (IATSE), which represents almost all primary crew members on major TV and movie sets, and the Alliance of Motion Picture and Television Producers, ...Read more

John J. Kim/Chicago Tribune/TNS

O'Hare ranked last among biggest US airports as passenger satisfaction starts to dip from record highs earlier in the pandemic

Business / Business News /

Passenger satisfaction at America’s airports is starting to dip from all-time highs as airports get busier, with O’Hare International Airport ranking last and Midway Airport in the bottom half, according to a study released Wednesday.

Overall, airports still scored higher than ever on the 2021 North American Airport Satisfaction Survey by J...Read more

Steve Fecht/Cadillac/General Motors/TNS

GM hires former chief of NHTSA to run its regulatory affairs

Business / Business News /

General Motors has hired the former chief of the National Highway Traffic Safety Administration to head global regulatory affairs for the automaker.

GM said Wednesday that David Strickland will join the company as vice president of Global Regulatory Affairs starting Oct. 1. He will report to Omar Vargas, GM vice president and head of Global ...Read more

Paul Brady/Dreamstime/TNS

Fed signals bond-buying taper may start soon, split on 2022 hike

Business / Business News /

Federal Reserve Chair Jerome Powell said the central bank could begin scaling back asset purchases as soon as November and complete the process by mid-2022, after officials revealed a growing inclination to raise interest rates next year.

Powell, explaining the U.S. central bank’s first steps toward withdrawing emergency pandemic support for ...Read more

Paul Brady/Dreamstime/TNS

Fed signals bond-buying taper may start soon, split on 2022 hike

Business / Business News /

Federal Reserve officials signaled they would probably begin tapering their bond-buying program soon and revealed a growing inclination to start raising interest rates in 2022.

If progress toward the Fed’s employment and inflation goals “continues broadly as expected, the committee judges that a moderation in the pace of asset purchases ...Read more

Susan Tompor/Detroit Free Press/TNS

Crypto faces existential threat as crackdown gathers steam

Business / Business News /

Cryptocurrency firms are fighting for lobbyists and fielding subpoenas in what could be an existential fight over how the multitrillion-dollar industry should be regulated.

In the past month, lobbyists have been overwhelmed by firms seeking representation in Washington, as regulators threaten the cryptocurrency companies with lawsuits or cease-...Read more

Dreamstime/TNS/TNS

Ford partners with, invests $50M in Tesla co-founder's battery recycling startup

Business / Business News /

Ford Motor Co. is partnering with and investing $50 million into a battery recycling startup led by a Tesla co-founder as the Dearborn automaker works to shore up its battery supply chain for a forthcoming wave of electric vehicles.

Ford and Redwood Materials announced the deal Wednesday and said the two companies will work together "to ...Read more

TNS

Tech Q&A: Using a Chromebook that no longer receives security updates

Business / Business News /

Q: My HP Chromebook is going to reach Auto Update Expiration in September. I use it only rarely, but I would like to be able to make online purchases with it. How dangerous is it to keep using a Chromebook that's not continually updated? Would it make sense to install some Bitdefender security software to protect the Chromebook?

—Julie O'...Read more

James Lipman/Ford/TNS

Michigan to have nation's first electrified road to wirelessly charge EVs, governor says

Business / Business News /

Imagine being able to charge an electric vehicle without stopping to plug in. It's the kind of technology that could help ease worries like range anxiety and could really boost the transition to electric vehicles.

Michigan could have the first wireless charging infrastructure on a public road anywhere in the country, although the state is ...Read more

Jonathan Weiss/Dreamstime/TNS

While many tech firms keep workers home, T-Mobile wants an office return by next month

Business / Business News /

While many employers have delayed their office returns until next year, T-Mobile is pushing ahead with plans to bring workers back at least part-time before the end of October.

Although the Bellevue, Wash.-based cellular company postponed its original return date, from Sept. 20 to Oct. 25, to give workers more time to get vaccinations, it's ...Read more

Steve Ringman/Seattle Times/TNS

Seattle brothers expand billion-dollar biotech company's focus to include COVID

Business / Business News /

Harlan and Chad Robins started Seattle-based Adaptive Biotechnologies 12 years ago to find a cure for cancer. Now, they have broadened their mission to take on COVID-19.

Adaptive sells an ultra-detailed blood test that analyzes immune responses to different diseases. It says the technology can advance research, diagnosis, and treatment of ...Read more

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Are you ready for a 3D-printed house? They're cheaper, stronger and long-lasting, developers say

Business / Business News /

TALLAHASSEE, Fla. — The three-bedroom, two-bath home has a corduroy-patterned exterior, rounded corners — and a cement pour that oozed from an industrial-sized toothpaste tube. And most intriguing of all, it comes from a 3D printer.

When the house is finished around November, Kyndra and James Light, a husband-wife development team, will be ...Read more

Dreamstime/Dreamstime/TNS

The solution to au pairs' health coverage gaps may be simple: ACA plans

Business / Business News /

In 2016, Isis Mabel, of Mexico, wanted to improve her English. On advice from an aunt, she enrolled with an au pair agency to come to the United States to live with a family and care for the children. The job typically pays about $200 a week on top of lodging and meals. She said she gave the agency $360 and was told that would cover costs like ...Read more

Dreamstime/Dreamstime/TNS

Consumer Confidential: Consumers are receiving billions of car-warranty calls. Ignore them

Business / Business News /

t's hard to feel lonely working from home when you get called every day about your car warranty.

You know what I'm talking about. The robocall — it's always a recording — warns that your vehicle warranty is expired or about to expire. By pressing "one" on your keypad, you can fix things by signing up for an extended warranty.

Spoiler alert...Read more

Hannah Norman/TNS

Nearly four months ago, Abbott closed a factory making COVID-19 tests. Now, it's reopening that facility amid a surge in demand

Business / Business News /

Nearly four months after closing an Illinois facility that made rapid, at-home COVID-19 tests, Abbott Laboratories now plans to restart production there amid a surge in demand for the tests.

Production of Abbott’s BinaxNOW tests is expected to begin at the facility in the coming weeks, said spokesman Scott Stoffel in an email. The company is ...Read more

Nancy Stone, Chicago Tribune/Chicago Tribune/TNS

Walgreens announces $970 million investment in company that helps hospitals with specialty pharmacy services

Business / Business News /

Walgreens Boots Alliance plans to invest $970 million in a company that helps hospitals and health systems with specialty pharmacy services, Walgreens announced Tuesday.

The investment in Massachusetts-based Shields Health Solutions will give Walgreens a 71% ownership stake in Shields, with an option to acquire the remaining equity interests in...Read more