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For some Hollywood investors, the pandemic opened new doors

Business / Business News /

LOS ANGELES - When the eagerly awaited "Coming to America" and "Mission: Impossible" sequels hit theaters this year and next, Brian Oliver will see his company's credits onscreen in a way he says wasn't likely before the pandemic.

Last month, the 49-year-old Oscar-nominated producer and financier signed a more than $200-million deal with ...Read more

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Feds charge Amazon finance manager with insider trading

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SEATTLE - The federal Securities and Exchange Commission filed suit Monday against an Amazon finance manager who allegedly leaked confidential company information to family members, allowing them to earn nearly $1.4 million by trading based on insider tips.

Bothell resident Laksha Bohra, a former manager in Amazon's Tax Division; her husband, ...Read more

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Seattle's median household income soars past $100,000 — but wealth doesn't reach all

Business / Business News /

For Seattle, the 2010s were marked by the explosive growth of two things: Population and income.

Regarding population, the city ended the decade with the distinction as the fastest-growing big city in the U.S. So it seems only fitting that when it comes to income, Seattle should also close out the previous 10-year stretch with a milestone.

And...Read more

Al Seib/Los Angeles Times/TNS

Mothers are 3 times more likely than fathers to have lost jobs in pandemic

Business / Business News /

Mothers of small children have lost work at three times the rate of fathers in the pandemic, a situation that threatens not only progress toward gender equity but middle-class income gains that have become increasingly dependent on working women.

Mothers of children 12 years old and younger lost nearly 2.2 million jobs between February and ...Read more

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Ameren announces plans to reach 'net-zero' carbon emissions by 2050, and spend billions on renewable energy

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ST. LOUIS - Ameren announced Monday that it intends to invest $8 billion in renewable energy projects over the next two decades, and will accelerate its plans to reduce carbon emissions and retire a pair of coal-fired power plants - reaching "net-zero" carbon emissions by 2050.

The company's two largest coal plants, though, will still run until...Read more

E. Jason Wambsgans/Chicago Tribune/TNS

United Airlines pilots accept deal to avoid nearly 3,000 furloughs

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CHICAGO - United Airlines pilots agreed to a deal that will spare almost 3,000 pilots from furloughs through at least June.

Pilots agreed to work fewer hours, with the most junior pilots who were at greatest risk of furloughs facing the greatest reductions, according to the union representing United's 3,000 pilots, the Air Line Pilots ...Read more

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Target Deal Days, Amazon Prime Day both in October

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Target plans to launch its two-day Deal Days sale in October, coinciding with competitor Amazon's Prime Day two-day event.

Both sales - being held Oct. 13 and 14 - come months later than usual as the normal retail schedule was upended by COVID-19. Last year, both Amazon and Minneapolis-based Target held their sales in mid-July.

Target Deal ...Read more

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GoFundMe a go-to for struggling businesses, families, pet owners

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SAN DIEGO - Some are to help laid-off restaurant workers or struggling breweries. Others are to keep dance studios open. Several are for smaller, personal expenses such as veterinarian bills.

But the online fundraisers all have one thing in common. Each of the GoFundMe posts are from a person, business or organization hurting financially during...Read more

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TikTok ban by Trump likely exceeded authority, judge says

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A federal judge in Washington said he blocked the Trump administration's proposed ban on the popular Chinese-owned TikTok app on Sunday because the U.S. government likely overstepped its authority.

In an opinion unsealed on Monday, U.S. District Judge Carl Nichols explained his reasoning for temporarily blocking a ban on new TikTok downloads ...Read more

Zbigniew Bzdak/Chicago Tribune/TNS

Steel giant ArcelorMittal to sell US business in $1.4B deal

Business / Business News /

ArcelorMittal's U.S. operations, which include Indiana Harbor, the largest integrated steelmaking facility in North America, will be sold to Cleveland-Cliffs for $1.4 billion in cash and stock.

The transaction, announced early Monday, will make Cleveland-Cliffs the largest flat-rolled steel producer and largest iron ore pellet producer in North...Read more

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Column: Let's put Donald Trump's $750 annual tax payment in perspective

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The headline nugget in the expose of Donald Trump's taxes published Sunday by the New York Times is that Trump paid $750 in federal income tax in 2016 and 2017.

In many other years, he paid nothing, the Times reported. But let's put those $750 payments in context, so we can have a sense of the scale of his reported ripoff of all other American ...Read more

Susan Tompor/Detroit Free Press/TNS

Susan Tompor: Mystery shopper, fake job offers target people stretched for cash during pandemic

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Tosha Waggoner, 33, of Newport, Mich., would love to land a job. But she wasn't sure that depositing a $6,000 check that arrived out of the blue was the right way to get one.

Admittedly, her job hunting prospects have been bleak after she gave birth to a daughter in April, when many businesses had closed their doors during the pandemic. Her ...Read more

Small firms less apocalyptic as 60% see survival past 6 months

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America's small businesses are slightly more bullish about their own survival than five months ago, with a majority now saying they expect to be operating beyond six months even if current conditions persist, according to a new survey.

Sixty percent of business owners said they will be able to remain open for more than a half-year, up from 46% ...Read more

Christmas shopping poised to show inequity in K-shaped recovery

Business / Business News /

This Christmas will be one of exorbitant spending and lavish gifts for many American families. It'll also be one of tight budgets and difficulty putting food on the table for many others.

That's the effect of the pandemic recession, which is exacerbating inequalities between the rich and the poor.

High-paid U.S. workers are benefiting from a ...Read more

Croptober is going up in smoke amid wildfires

Business / Business News /

October usually heralds the harvest of outdoor cannabis plants, affectionately known as "Croptober." But this fall, something more serious is in the air: smoke from the wildfires that are ravaging California and Oregon.

Fires are clustered in Northern California's "Emerald Triangle" and a pair of Oregon counties, areas that are among the nation...Read more

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Feds target predatory lenders to small business, but Pennsylvania remains a haven for the industry

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Last summer, Philadelphia lawyer Shane Heskin told Congress that Pennsylvania has robust laws to prevent consumers from being gouged on loans - but none protecting business owners.

"Consumers have laws protecting them from usurious interest rates," he said. "But for small businesses, those protection laws don't apply at all."

Heskin defends ...Read more

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Delta to retire Boeing 717s, some 767s by end of 2025

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Delta Air Lines said it will retire more jets earlier than planned as it cuts costs amid weakened travel demand due to the coronavirus pandemic.

The Atlanta-based airline outlined the revised plans in a regulatory filing Friday announcing the completion of $9 billion in financing, including a $6 billion debt offering backed by its SkyMiles ...Read more

Pandemic makes economic and racial gaps worse, Fed's Bostic says

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ATLANTA - The pandemic has intensified inequality in America and, without decisive action by the federal government, many minorities and poor people could be left out of any economic recovery, said the president of the Federal Reserve Bank of Atlanta on Friday.

Nationally, the unemployment rate for white people is 7.5%, compared to 13.1% for ...Read more

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US files opposition to TikTok's request to halt Trump ban

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The U.S. filed sealed papers opposing TikTok's request to halt a Trump administration ban on the video-sharing app that's scheduled to go into effect this weekend.

ByteDance Ltd., TikTok's owner, has sought a temporary block on the ban even as it pursues administration approvals for the sale of a stake in the video-sharing app to Oracle Corp. ...Read more

Mel Melcon/Los Angeles Times/TNS

This LA company was hit with state's largest-ever COVID-19 fine. Some say it's a model for worker safety

Business / Business News /

In late July, Gloria Lopez, a weight checker at a frozen food processing plant in Vernon, noticed that a plexiglass divider was missing between workers on the production line.

Two employees were left exposed to the coronavirus. Neither had said anything.

"I said to one of them, 'Do you feel comfortable the way you're working?' And she said, '...Read more