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Econometer: Is federal legislation needed to regulate prediction markets?

Business / Business News /

Online prediction markets, like Kalshi and Polymarket, have captured the nation’s attention with high-profile claims of wrongdoing.

The markets allow users to vote on everything from sports to news events. The Department of Justice recently arrested a U.S. soldier who allegedly won roughly $400,000 from bets using classified intelligence.

...Read more

Valerie Macon/AFP/Getty Images North America/TNS

Amazon MGM Studios executive solicited kickbacks for postproduction contracts, lawsuit alleges

Business / Business News /

An Amazon MGM Studios executive allegedly solicited kickbacks from an aspiring vendor in exchange for post-production contract awards on shows, according to a recently filed lawsuit.

Joe Eckardt, owner and president of Hollywood-based postproduction services firm Unbreakable Post, alleged that the studio's head of postproduction, Frank Salinas,...Read more

Al Seib/Los Angeles Times/TNS

Writers Guild staff union reaches deal, ending strike after nearly three months

Business / Business News /

The union representing workers employed by the Writers Guild of America have reached an agreement on their first contract, ending a strike that lasted nearly three months.

The pending contract includes seniority and layoff protections, higher wages and outlines provisions for progressive discipline and a stepped grievance process, the Writers...Read more

Eric Thayer/Los Angeles Times/TNS

Disney's ABC challenges FCC, escalating fight over free speech

Business / Business News /

Walt Disney Co.’s ABC is forcefully resisting Federal Communications Commission efforts to soften the network’s programming, accusing the federal agency of an overreach that violates 1st Amendment freedoms.

Last week, the FCC took the unusual step of calling in the licenses of eight Disney-owned television stations for early review. The ...Read more

Robin Buckson, The Detroit News/The Detroit News/TNS

New Ford Super Duty Carhartt package unites two heritage brands

Business / Business News /

DETROIT — When Ford Motor Co. and Carhartt Inc. collaborate to design a co-branded vehicle, a Super Duty with durable design, functionality and Detroit manhole-inspired wheels is what you get.

The heritage, family-influenced brands with century-plus roots in the Motor City unveiled the pickup on Thursday at Michigan Central during a ...Read more

Clarence Tabb Jr./The Detroit News/TNS

Can Chrysler survive? With just one minivan, CEO says fans shouldn't fret

Business / Business News /

Chrysler used to sell sedans, convertibles, an SUV, even the funky PT Cruiser and sporty Crossfire.

Now, it's down to just one model: the Pacifica minivan. That increasingly limited focus and lack of investment has fueled concerns that the century-old brand owned by Stellantis NV could eventually head the way of other defunct Detroit Three ...Read more

Luke Ramseth / The Detroit News/The Detroit News/TNS

UAW calls off strike authorization vote at Ram truck plant after reaching deal

Business / Business News /

The United Auto Workers called off plans for a strike authorization vote at Stellantis NV's Sterling Heights (Michigan) Assembly Plant this week after saying it had resolved grievances with the automaker over alleged outsourcing of work.

"The company has come to us, we've had multiple discussions, and we've come to a resolution to resolve those...Read more

Eric Thayer/Los Angeles Times/TNS

Disney's ABC challenges FCC, escalating fight over free speech

Business / Business News /

Walt Disney Co.'s ABC is forcefully resisting Federal Communications Commission efforts to soften the network's programming, accusing the federal agency of an overreach that violates 1st Amendment freedoms.

Last week, the FCC took the unusual step of calling in the licenses of eight Disney-owned television stations for early review. The move �...Read more

Ethan Baron/Bay Area News Group/TNS

Report: Facebook is main tool for criminals selling endangered wild animals

Business / Business News /

Social media giant Facebook has become the main tool for criminals selling endangered wild animals online, a new report claims.

“The world is facing an unprecedented biodiversity crisis in which species are disappearing at rates widely described as consistent with a sixth mass extinction,” the report released in April by the Global ...Read more

Benjamin Hager/Las Vegas Review-Journal/TNS

'It's like a funeral': Out-of-work Spirit flight attendants look back at time with airline

Business / Business News /

Jamie Patzer would have celebrated her 20-year anniversary at Spirit Airlines as a flight attendant on Friday. Now, she is a part of the 999 Las Vegas-area workers laid off by the company.

“I was supposed to work that evening,” said Patzer, 47, about the day Spirit ceased operations. “I was here with another flight attendant who was ...Read more

John Autey/Pioneer Press/TNS

Minnesota bans cryptocurrency ATMs in response to growing fraud cases

Business / Business News /

Cryptocurrency ATMs started landing in grocery stores and gas stations a few years ago with a promise to revolutionize the way people use money.

Instead, the kiosks to convert cash into bitcoin or other virtual currencies became known to law enforcement and many users for eye-watering financial losses and predatory fees. After earlier attempts ...Read more

Brian van der Brug/Los Angeles Times/TNS

Press freedom groups allege Larry Ellison promised to fire CNN anchors

Business / Business News /

Two press freedom groups that own shares in Paramount Skydance are demanding to see the company’s books and internal documents, citing allegations that the company’s leaders may have promised favors to the White House to win approval for Paramount’s deal to acquire Warner Bros. Discovery.

The letter, sent Thursday to Paramount chief legal...Read more

TNS

Casey Williams: While killing off its flagship LS sedan, Lexus finds a new generation of luxury space

Business / Business News /

Lexus announced the discontinuation of its flagship LS sedan, the car that launched Toyota’s luxury brand in 1989. The original LS400 was enchanting, a car that could compete with the Mercedes S-Class at half the price and probably twice the quality. It set the entire luxury segment back on its wheels as storied brands scurried to compete. The...Read more

Allen J. Schaben/Los Angeles Times/TNS

Ships at LA's ports face a fuel shock that's shaking the economy

Business / Business News /

The massive ships that glide through the ports of Los Angeles and Long Beach are facing extreme fuel costs as oil prices rise, often paying millions of dollars more to top off their titanic tanks.

The cost of filling up with shipping fuel in L.A. County is close to 20% higher than at other major ports in the U.S. and worldwide. The rates at the...Read more

David McNew/Getty Images North America/TNS

Mattel investor campaigns to take the company private

Business / Business News /

A large investor in Mattel is asking the toy maker to sell itself to a big investor and take its shares off the stock market.

Southeastern Asset Management, which oversees 4% of Mattel's stock, said in a letter released Thursday that the company would be better off if owned by a private equity firm, a toy competitor or a media company.

Mattel ...Read more

Henry Payne/The Detroit News/TNS

Auto review: Chinese Polestar 4, US-made Tesla Model Y go wheel-to-wheel

Business / Business News /

WASHINGTON — Who says Chinese cars aren’t sold in the United States?

Produced by Chinese auto giant Geely, the Polestar 4 SUV debuted this year into the U.S. market’s most competitive luxury segment: electric vehicles.

Its Swedish design is wrapped around Geely’s Sustainability Experience Architecture — a platform shared with other ...Read more

Stellantis/Stellantis/TNS

Auto review: In a rare act of corporate humility, the Hemi V-8 returns to the Ram 1500 pickup

Business / Business News /

The 2026 Ram 1500 staggers back into the showroom dragging a V-8 behind it, proving once again that progress is no match for grown adults having a tantrum. Last year, Ram euthanized this engine in favor of a smarter, stronger inline-six, an act of engineering competence that immediately triggered a nationwide outbreak of hysteria. The Internet ...Read more

Marc Grasso/Boston Herald/TNS

Auto review: 2026 Mazda CX-90 gets better and better

Business / Business News /

At Grasso’s Garage, normally as we enter the summer months our attention turns to top-down fun, but for the moment we're transfixed by Mazda's flagship CX-90 Premium Plus.

Looking good with its outstanding Artisan Red paint — a deep raspberry look competitors wish they could recreate — the redesigned seven-passenger SUV exudes excellence....Read more

California tech company Cloudflare to lay off more than 1,000 workers, cites AI

Business / Business News /

Cloudflare is laying off 20% of its staff, the latest technology company to announce big cuts as it uses more artificial intelligence-powered tools.

The San Francisco web performance and cybersecurity company said it was getting rid of 1,100 people.

"The way we work at Cloudflare has fundamentally changed," Chief Executive Matthew Prince and ...Read more

Microsoft unveils details of buyout push, offers cash and healthcare

Business / Business News /

Roughly 8,750 Microsoft employees have a month to decide whether they'll stick with the company or take the money and run.

The Redmond-based tech giant is offering a voluntary retirement program for the first time in its 51-year history as it manages its head count amid record artificial intelligence-related spending.

The buyouts were ...Read more