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Elon Musk's tunnel project may get a boost

Business / Business News /

LOS ANGELES -- Elon Musk's vision for a tunnel network that could whisk people across Los Angeles County in minutes hints at a future where commuting in Southern California could be easier, or even seamless.

His company's efforts to fast-track construction for a tunnel where that technology could be tested has been relatively seamless, too -- ...Read more

The people have spoken: Heinz will bring 'mayochup' condiment to U.S. stores

Business / Business News /

If you want to see "mayochup" -- a pre-mixed mayonnaise-ketchup product made by Kraft Heinz -- on store shelves, you are clearly not alone.

The company, based in Chicago and Pittsburgh, asked Twitter users last week if it should bring the hybrid condiment to the U.S., and the response was overwhelming. At final count, 930,691 people voted in ...Read more

T-Mobile expands jobs, services for veterans

Business / Business News /

BELLEVUE, Wash. -- T-Mobile has launched a campaign geared toward veterans, with a hiring effort, discounts on phone lines, and investments in its network near military bases.

The telecom said Wednesday that it plans to hire 10,000 veterans and military spouses in the next five years, doubling its previous 2016 pledge to make 5,000 military ...Read more

Amazon says it has more than 100 million Prime members

Business / Business News /

Amazon Chief Executive Jeff Bezos said the company has more than 100 million paid subscribers worldwide to its Prime Membership service, disclosing for the first time a figure that the company long held as a trade secret.

The announcement came Wednesday in Bezos's letter to shareholders, the Amazon founder's closely watched annual treatise that...Read more

B-21 bomber finishes preliminary design review, and Air Force official is 'comfortable' with progress

Business / Business News /

A U.S. Air Force official told a Senate subcommittee Wednesday that the new B-21 bomber has completed its preliminary design review and that he was "comfortable" with the progress made by builder Northrop Grumman Corp.

The bomber is now on its way to critical design review, said Lt. Gen. Arnold Bunch Jr., the military deputy of the office of ...Read more

Netflix has considered buying theaters, including Mark Cuban's Landmark, to gain an Oscar edge, sources say

Business / Business News /

Netflix, the global streaming giant that has dramatically changed the TV industry and clashed with movie theater owners, may be ready to move onto the big screen in a new and surprising way -- by owning cinemas.

The Los Gatos, Calif., company has explored the idea of buying movie theaters in Los Angeles and New York that would allow it to ...Read more

Senate votes to scrap CFPB directive targeting auto-lending bias

Business / Business News /

WASHINGTON -- The U.S. Senate has moved to scrap a Consumer Financial Protection Bureau policy aimed at preventing discrimination in auto lending as Republicans employed an unorthodox procedure to attack agency guidance that they said was an effort to bypass normal rule-making.

Senators voted Wednesday to upend a directive released in 2013, ...Read more

U.S. Bank's profit rises, but investors fret about spending growth

Business / Business News /

U.S. Bancorp consistently produces some of the best results among the nation's big banks, but even it can upset investors a little.

After the company reported a 13 percent jump in quarterly profit Wednesday morning, its shares fell 2 percent, outpacing a down day for the financial sector overall as investment analysts questioned its spending.

...Read more

Tesla set to go 24-7 on cranking out the Model 3

Business / Business News /

FREMONT, Calif. -- Will a third shift be the charm for Tesla as it seeks to get its Model 3 production on track?

That's the hope according to an email that Tesla Chief Executive Elon Musk has sent to company employees. In the email, a copy of which was obtained by the automotive tech blog Electrek, Musk says Tesla's Fremont plant is about to ...Read more

Time Warner CEO Jeff Bewkes calls government antitrust allegations 'ridiculous'

Business / Business News /

Time Warner Inc.'s chief executive testified Wednesday that the government's assertions that AT&T Inc. wanted to buy the company to use its programming as leverage over distributors "makes no sense" because it would limit viewership.

"I think it's ridiculous. It's not how this works," Jeff Bewkes told a federal judge as the antitrust trial to ...Read more

Cadillac head Johan de Nysschen abruptly leaves GM

Business / Business News /

General Motors is replacing the head of its Cadillac brand.

The automaker announced Tuesday that it is appointing Steve Carlisle as GM senior vice president and president of Cadillac, replacing Johan de Nysschen, "who is leaving the company effective immediately." Carlisle was previously president and managing director of GM Canada.

No details...Read more

Miami joins avalanche of cities, counties and states suing opioid drugmakers

Business / Business News /

MIAMI -- Miami joined a national avalanche of cities, counties and states filing lawsuits aimed at opioid manufacturers and distributors, blaming them for fueling an overdose epidemic estimated to claim about 115 lives a day.

Miami officials filed the civil lawsuit in Miami-Dade County on Monday, alleging deception and false marketing by a ...Read more

San Francisco impounds electric scooters, execs called 'spoiled brats'

Business / Business News /

So much for the utopian idea of eco-friendly, electric scooters helping solve the Bay Area's urban transportation woes.

A week after impounding 66 rentable scooters that were blocking sidewalks and doorways, the San Francisco city attorney this week declared them a "public nuisance" and issued "cease and desist" orders to the three companies ...Read more

Best Buy and Amazon partner up in exclusive deal to sell new TVs

Business / Business News /

SEATTLE -- While often positioned as rivals, Best Buy and Amazon have teamed up together to design and sell new smart TVs embedded with Amazon's Fire TV and integrated with the voice assistant Alexa.

Best Buy will be the exclusive retailer selling the TVs as part of a multiyear agreement that deepens the relationship between the two companies. ...Read more

Defense contract pits Amazon against the rest of Big Tech

Business / Business News /

A wide range of technology giants find themselves unified by a single concern: that Amazon has the inside track to win a huge winner-take-all government cloud-computing contract that could help accelerate the Seattle company's lead in the fast-growing industry.

The Department of Defense this week released more than 1,000 comments it received in...Read more

Parkland shootings survivor David Hogg protests Vanguard, BlackRock gun investments

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David Hogg, one of the high school students from Parkland, Fla. who have been pushing a mass-media gun-control campaign since a former student shot dead 17 high school classmates and staffers and wounded dozens more, urged investors Wednesday morning to let big investment firms know if they oppose investments in U.S. gun manufacturers, and urged...Read more

Illinois sanctions Blue Cross for Medicaid program violations

Business / Business News /

The state has slapped sanctions on Blue Cross and Blue Shield of Illinois, saying its Medicaid managed care network of doctors and hospitals is inadequate and it isn't responding to grievances and appeals as it should.

Blue Cross is part of the state's recently revamped Medicaid managed care program, in which private insurers administer ...Read more

Corn Belt senators ask EPA to stop issuing refineries waivers to biofuel laws

Business / Business News /

Thirteen Corn Belt senators, led by Minnesota Democrat Amy Klobuchar and Iowa Republican Chuck Grassley, have petitioned the Environmental Protection Agency (EPA) to stop issuing waivers that exempt certain oil refineries from federal biofuel laws.

The bipartisan group of senators -- which also includes Minnesota Democrat Tina Smith -- also ...Read more

Read all about it: How a Trump tariff might kill your local newspaper

Business / Business News /

Therefore never send to know for whom the bell tolls; it tolls for thee. Or in this case, newspapers and their readers.

Lost amid the Trump administration's tariffs on imported steel and aluminum, as well as billions of dollars more threatened against China, is a hefty duty the Commerce Department imposed on newsprint imported from Canada.

Of ...Read more

A news subscription for your iPhone? Apple may launch one by 2019: report

Business / Business News /

Last month, Apple announced it acquired the digital magazine distributor Texture as an entry to the journalism world. Now, it plans to use its platform to launch a premium news subscription by 2019.

Apple plans to integrate Texture's platform -- which catalogued more than 200 magazines and curated them based on the user's interests for a $9.99-...Read more