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Some of Amazon's suitors have been burned before

Business / Business News /

WASHINGTON -- Given its history, perhaps New York should be wary.

A decade ago, New York state granted aluminum producer Alcoa a 30-year discounted electricity deal worth an estimated $5.6 billion. In exchange, the company promised to retain 900 existing jobs in Massena, near the Canadian border, for three decades. By 2014, the jobs were down ...Read more

'Boo 2! A Madea Halloween' leads a lackluster box office

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LOS ANGELES -- Newcomers dominated the box office over the weekend, with Lionsgate's comedy "Tyler Perry's Boo 2! A Madea Halloween" and Warner Bros.' sci-fi spectacle "Geostorm" claiming the top two spots.

Perry's sequel debuted in first place, raking in an estimated $21.6 million in the U.S. and Canada, according to figures from measurement ...Read more

Susan Tompor: IRS: Tax refund fraudsters already had much of that Equifax stolen data

Business / Business News /

So among other cybersecurity worries, now we're all wondering how the stolen Equifax data -- which includes Social Security numbers -- might drive up tax refund fraud.

But IRS Commissioner John Koskinen said last week he's doubtful the Equifax breach will make a noticeable difference in tax-related ID scams. That's because a significant amount ...Read more

Going for broke: Many pro athletes still struggling with finances

Business / Business News /

PHOENIX -- Mike Tyson. Allen Iverson. Diego Maradona. Terrell Owens. Four major athletes, four major sports.

And an estimated $600 million of earnings lost.

Eight years after an eye-opening Sports Illustrated study suggested 60 percent of NBA players go broke within five years of retiring from the game, concerns remain about professional ...Read more

Seattle area's HQ2 bid tries to convince Amazon to stay at home

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SEATTLE -- The Seattle area woke up Sept. 7 to the news that Amazon planned to set up a second, equal headquarters, raising the prospect of a dramatic split between America's fastest-growing company and its hometown.

The area delivered its pitch for Amazon to stay at home on Thursday: a 522-page document that most expect to amount to a futile ...Read more

JetBlue to remove its fares from several online travel booking sites

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JetBlue Airways is removing its fares and schedules from 11 online travel booking sites, saying the move will cut costs and help keep fares low.

The decision follows the lead of Southwest Airlines, which has long kept its booking information from some of the most popular online travel sites. Delta Air Lines also began a few years ago to pull ...Read more

Column: Apple's new flagship store an understated gem on the Chicago River

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CHICAGO -- Chicago's new Apple store is thrillingly transparent, elegantly understated and a boon to the city's riverfront.

With its huge sheets of laminated glass and an ultra-thin roof of lightweight carbon fiber the store, opening Friday, is simultaneously present and absent, there and not there. From North Michigan Avenue, you look through ...Read more

Consumer Confidential: Dizzying prescriptions for drug price cuts

Business / Business News /

The sky-high cost of prescription meds was back in the spotlight last week. First, President Donald Trump said drug prices "are out of control" and drug companies are "getting away with murder."

Then came news that the country's second-largest health insurer, Anthem, will partner with CVS to launch its own pharmacy-benefit management business, ...Read more

Credit bureau lobbyists work to polish image

Business / Business News /

WASHINGTON -- The Atlanta credit bureau Equifax ramped up its spending over the last three months to lobby the federal government and protect its image as it took fire for exposing the personal records of more than 145 million Americans.

Its two main competitors, meanwhile, shifted their resources in order to do the same.

New federal records ...Read more

Mark Phelan: Ford teases fastest ever Mustang GT coming for 2018

Business / Business News /

As the weather cools and drivers put away their summer tires and dreams of muscle car glory, Ford and Michelin provide cause for hope: The fastest ever Mustang GT is coming for 2018, thanks to a quick-shifting new transmission and sticky performance tires.

The 2018 Mustang GT will accelerate from zero to 60 mph in less than 4 seconds, the kind ...Read more

The Week Ahead: How many times does the watchdog bark before it bites?

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Five earnings seasons ago, the Securities and Exchange Commission told publicly traded companies how they should be explaining their financial results so investors can better understand them. With hundreds of companies releasing their quarterly results in the weeks ahead, the SEC has sent a reminder.

In the world of corporate accounting, this ...Read more

Microsoft, Green Bay Packers launch tech initiative in Wisconsin

Business / Business News /

SEATTLE -- Microsoft is making a move into Green Bay Packers country, expanding its efforts to bring digital connectivity and tech training to small cities and rural areas across the country.

The company announced a partnership with the NFL team Thursday to launch a technology initiative in the Packer's hometown of Green Bay, Wis.

...Read more

Target will remodel more stores to compete with Amazon and Walmart

Business / Business News /

NEW YORK -- As Target Corp. continues to be a big believer in stores, the Minneapolis-based retailer said it would remodel hundreds more stores than previously announced.

Executives told investors earlier this year that by 2019 the retailer would remodel about 600 stores, or one-third of its store base.

CEO Brian Cornell told reporters on ...Read more

Consumer Reports: Buick top 10 most reliable; Ford and Fiat Chrysler improve

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DETROIT -- When it comes to reliability, Ford and Fiat Chrysler have improved their performance ratings among drivers while General Motors has slipped. Still, GM's Buick is the only U.S. brand to make Consumer Reports' latest top 10 list of most reliable brands. The new Chevrolet Bolt electric car was GM's most reliable model, scoring "above ...Read more

Trump meets with Janet Yellen as decision on next Fed chair nears

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WASHINGTON -- President Donald Trump met at the White House on Thursday with Federal Reserve Chair Janet Yellen as he neared a decision on who will lead the central bank after her first four-year term ends in February.

Yellen, 71, a Democrat nominated to the job by former President Barack Obama, is one of five candidates and was the last to ...Read more

Sinclair vision for TV network to rival Fox draws foes on right

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WASHINGTON -- The fiery editorials of Sinclair Broadcast Group Inc. chief political analyst Boris Epshteyn will be beamed into seven in 10 American living rooms if the company is allowed to complete a merger that would transform it into a nationwide conservative TV juggernaut.

But Sinclair's proposed $3.9 billion purchase of Tribune Media Co. ...Read more

Tracking down 'most wanted' insurance fraud suspects

Business / Business News /

WASHINGTON -- Just a day after Leandre Garner took out insurance for his 2007 Chrysler 300, he filed a claim, saying the car had been damaged in a parking lot and needed more than $4,000 in repairs. But insurance investigators figured out that his car already was damaged, and in 2013 authorities charged the Tacoma, Wash-area man with filing a ...Read more

Lyft gets $1 billion investment, led by Google's parent company

Business / Business News /

SAN FRANCISCO -- In the topsy-turvy world of tech, an investor can fund a company one minute and sue it the next. It can also turn around and fund a competitor, which is what Google's parent company did when it announced Thursday that its growth equity fund led a $1-billion investment in Lyft, four years after its venture capital arm invested in...Read more

As Amazon's deadline for HQ2 bids closes, speculation on winner heats up

Business / Business News /

SEATTLE -- In the six weeks since Amazon said it was seeking a site for a second headquarters, cities have preened. They've sent delegations to Seattle, bragged about their university engineering programs and tried to ship cactuses to Jeff Bezos.

Thursday evening, the curtain will close on the first act of Amazon's civic beauty pageant.

...Read more

The Journey: 5 money questions for expats with wanderlust

Business / Business News /

Ever wonder about the financial logistics of retiring abroad?

Travel websites make it sound so alluring. "Retire on a shoestring in Belize!" "Check out the freebies for ex-pats in Panama!"

It brings to mind an episode of "The Simpsons" in which Homer, after watching a promotional video, convinces Marge to move to the idyllic Cypress Creek ...Read more

 

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