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

NM man sentenced for attacks on business and government websites

Business / Business News /

A New Mexico man who admitted paying hackers to sabotage websites affiliated with his former employers and government agencies in Minnesota, has been sentenced to 15 years in prison.

John K. Gammell of Las Cruces was sentenced last week in federal court in St. Paul to five years of supervised release and restitution that authorities were still...Read more

What happened to the 'affordable' $35,000 Tesla Model 3?

Business / Business News /

SAN FRANCISCO -- It's March 2016. Tesla Chief Executive Elon Musk is on stage for the dramatic unveiling of the Tesla Model 3.

Tesla will make hundreds of thousands a year, he said. It will be fun to drive. It will be affordable. "In terms of price, of course, it'll be $35,000," he beamed, awash in thunderous applause.

Now it's May 2018. You ...Read more

California toy mogul Isaac Larian gives up on bid to buy hundreds of Toys R Us stores

Business / Business News /

California toy mogul Isaac Larian said Monday he has given up his effort to buy several hundred Toys R Us stores from the bankrupt retailer after he and the company's debt holders were unable to reach an agreement.

A group of investors led by Larian, founder and chief executive of MGA Entertaintment Inc., had submitted a $675 million bid on ...Read more

Fidelity mutual fund giant takes big hit on radio network Entercom

Business / Business News /

Fidelity Investments is feeling indigestion over its holdings in Entercom Communications Corp.

Fidelity, based in Boston, has taken a 10.9 percent stake in the Bala Cynwyd, Pa.-based radio station group whose shares are now trading around a five-year low after a first-quarter earnings miss.

Wall Street has punished the stock, knocking 25 ...Read more

Fiat Chrysler recalling 51K Jeep Cherokees because of fire risk

Business / Business News /

Fiat Chrysler Automobiles is recalling more than 51,000 of its 2018 Jeep Cherokees because of a fire risk.

The company said it is unaware of any accidents or injuries related to the defect, involving fuel-supply tubes that could leak. The campaign is limited to SUVs with a 2.4-liter engine and does not include the refreshed 2019 Jeep Cherokee, ...Read more

Eataly to terminate relationship with chef Mario Batali amid sexual misconduct allegations

Business / Business News /

After sexual misconduct allegations against Mario Batali emerged Sunday night on "60 Minutes," Eataly confirmed Monday that Batali has had no direct involvement with the Italian market and food hall since December 2017 and that the company is in the process of a full separation from the chef.

"We have initiated a process to compel the ...Read more

Fifth Third to buy MB Financial for $4.7 billion

Business / Business News /

CHICAGO -- Fifth Third Bancorp will buy Chicago-based MB Financial Bank for $4.7 billion, the banks announced Monday.

The merger will create the fourth-largest Chicago bank in total deposits with a 6.5 percent market share, and give the combined company 20 percent of the city's "middle market" banking relationships. MB branches will take the ...Read more

Sports gambling may be coming to California — but it's unclear who will take your bets

Business / Business News /

If there is one sure bet Californians can make now that the Supreme Court has cleared the way for legalized sports gambling, it's this: Months, if not years, of haggling lie ahead before residents can wager a dime on any game.

And that haggling could be a spectacle in itself as tribal casinos, card clubs and racetracks get into a likely ...Read more

On Philanthropy: UN's development goals are a roadmap for powerful donor impact

Business / Business News /

In 2015, the United Nations adopted the 2030 Agenda for Sustainable Development and established a set of 17 Sustainable Development Goals. Let's put these new goals into a good news/bad news context.

Between 2000 and 2015, the world made enormous progress on some of its most pressing problems. For example:

--The global mortality rate for ...Read more

The Journey: Balancing college spending and retirement saving

Business / Business News /

Let's stop blaming colleges for ruining retirement.

To be sure, student loan debt topped $1.5 trillion in the first quarter, according to the Federal Reserve. That's a huge number.

It's also true that more 60-plus people are carrying education debt, either for themselves, children or grandchildren, though that's a little misleading because due...Read more