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American Seafoods has 25 new cases of COVID-19 among crew aboard 2 factory trawlers

Business / Business News /

Test results released Thursday evening have identified 25 COVID-19 cases among the crew of two factory trawlers operated by Seattle-based American Seafoods.

These cases aboard the American Triumph and the Northern Jaeger were confirmed Thursday evening as the vessels moored in Bellingham to offload frozen fish. They were announced by the ...Read more

Harvard wins Apple, Twitter backing on use of race in admissions

Business / Business News /

Intel Corp., Apple Inc. and Amgen Inc. are among more than a dozen companies supporting Harvard University in a fierce legal battle that could shape the use of race in college admissions for decades to come.

The nation's oldest university is fighting a challenge by Edward Blum, a staunch foe of affirmative action who seeks to stop it from ...Read more

Trump signs bill updating forgivable loans program for small businesses

Business / Business News /

WASHINGTON -- President Donald Trump on Friday signed into law a new version of the small business loan program known as PPP.

The new law, called the Paycheck Protection Program Flexibility Act, reshaped the forgivable loans Congress created in late March as the coronavirus pandemic forced many businesses to shut down and layoff workers.

It ...Read more

Michael Hiltzik: Mark Zuckerberg just made the case for breaking up Facebook

Business / Business News /

The problem with giant corporations sometimes isn't simply that they're too big, but that their sense of their social impact is too small.

Exhibit A: Facebook.

The giant social media firm's co-founder and chief executive, Mark Zuckerberg, on Tuesday convened a 90-minute video town hall for its employees.

His goal chiefly was to address ...Read more

Court rules dicamba illegal on crops. Bayer stands to lose millions

Business / Business News /

ST. LOUIS -- A federal appeals court has ruled that Monsanto's controversial weedkiller dicamba can no longer legally be sprayed over crops, or sold for that use, leaving farmers across the country with product they can't use, and likely costing Monsanto's successor, Bayer, tens of millions of dollars in lost sales this year alone.

The ...Read more

May jobless rate falls to 13.3%, likely marking the bottom of coronavirus-related economic slump

Business / Business News /

WASHINGTON -- The government reported Friday that the unemployment rate dropped to 13.3% last month after soaring to 14.7% in April, an unexpectedly positive turn that suggests the pandemic-induced recession may have hit bottom.

Most analysts had expected the rate would keep rising, perhaps as high as 20%.

But instead employers also added 2.5 ...Read more

US jobless rate unexpectedly fell in May as hiring rebounded

Business / Business News /

America's labor market unexpectedly rebounded in May, signaling the economy is picking up faster than thought from the depths of the damage from the coronavirus pandemic.

Nonfarm payrolls rose by 2.5 million after a 20.7 million tumble the prior month that was the largest in records back to 1939, according to Labor Department data Friday. The ...Read more

Electric truck maker Nikola looks like Tesla 2.0 — except even riskier

Business / Business News /

A week before Nikola, the electric truck start-up, debuted its shares on the public market, it was time to spin up the hype machine. For some reason its founder and chief executive, Trevor Milton, wanted to talk about how much he loves Tesla.

You'd think he'd count Tesla as a rival, if not an enemy. Each aims to capture the market for long-haul...Read more

Big-boy truck battle Part 2: Will the Ram 1500 EcoDiesel measure up?

Business / Business News /

2020 Ram 1500 Rebel Crew Cab 4x4 EcoDiesel: Is this even big enough?

Price: $71,305 (up from a base price of $47,990). The engine? $4,995. Sunroof: $1,495. Much more mentioned below, though I don't have room to write about every single item.

Marketer's pitch: Nothing snappy on the Ram website -- just discounts.

Conventional wisdom: Car and ...Read more

Ford to unveil hotly anticipated new Bronco this summer

Business / Business News /

Ford Motor Co. will unveil the new Ford Bronco SUV this summer.

The iconic vehicle, which Ford produced from 1966 to 1996, will have its world premiere in July, Ford spokesman Jiyan Cadiz told the Free Press.

Cadiz did not reveal a specific date or location, saying, "We will communicate more details about the premiere as we get closer to the ...Read more

The Week Ahead: Moving from rescue to recovery

Business / Business News /

After a flurry of unprecedented actions as the COVID-19 pandemic locked down the U.S. economy, the Federal Reserve has been more characteristically quiet in recent weeks. It may have disappeared from the daily headlines, but the central bank remains central to the recovery in the stock market and beyond.

The Fed launched its economic rescue ...Read more

Under the Hood: How to keep your vehicle's battery charge curing coronavirus lockdown

Business / Business News /

Q: Our household has three cars for two retired drivers, and with the coronavirus shelter-in-place order, we don't drive them much to recharge their batteries. I try to use a different car every time I go to stores or whatever, just to charge the battery and warm up the engine to circulate the oil. But that may be only once or twice a week. I do...Read more

Motormouth: After-market blind-spot sensor

Business / Business News /

Q: Do you recommend the installation of an after-market blind-spot sensor? It would go on a 2012 Camry. If so, what are recommended brands and who installs them?

D.A., LeSueur, Minn.

A: If you have an older car, or one that was not equipped with a blind-spot sensor, an aftermarket kit may be the answer. But-- and this is a big but-- they are ...Read more

Elon Musk says it's 'time to break up Amazon'

Business / Business News /

Elon Musk ended his brief respite from tweeting Thursday when he went on Twitter to say that he thinks its time for Amazon to be broken up.

Musk, who on Monday tweeted that he would be "off Twitter for a while," was back on the social media platform, and mostly responding to messages about the recent successful launch of SpaceX's first manned ...Read more

Amazon works with African American employees group to select organizations for $10 million donation

Business / Business News /

SEATTLE -- Amazon on Wednesday announced $10 million in new cash donations to 11 organizations "working to bring about social justice and improve the lives of black and African Americans," the company said.

The donations follow social media posts in recent days by Amazon and other companies expressing solidarity with the black community amid an...Read more

Fed seen staying course with yield curve control likely ahead

Business / Business News /

Federal Reserve officials are unlikely to signal any new moves at their meeting next week, though many economists expect they will turn to yield-curve control later this year, recruiting a tool not used in the U.S. since World War II.

Just over half of economists surveyed by Bloomberg said they anticipate the Federal Open Market Committee will ...Read more

CBO: Extending higher jobless benefits would increase unemployment

Business / Business News /

Five out of six workers would receive more in expanded unemployment benefits than they would earn on the job if Congress extends those benefits through January, the Congressional Budget Office said in a report Thursday.

That would translate into lower employment both in the second half of this year and next year, according to the CBO, than if ...Read more

Wall street warning to Corporate America: Get cash while you can

Business / Business News /

Bankers have a message for America's debt-laden companies: raise money now, because things could get a lot worse.

The gradual reopening of businesses after months-long shutdowns and a pick up in manufacturing activity have given investors reason for optimism in recent weeks. But underwriters who cater to heavily indebted corporations are ...Read more

Energy-efficiency industry group presses for tax credits

Business / Business News /

Congress should expand tax credits for energy efficiency projects to "help speed the recovery" in the industry, which the coronavirus pandemic and looming recession have hit hard, hundreds of heating, cooling, insulation and energy companies said Thursday.

In a letter to Republican and Democratic leaders, nearly 800 companies called for ...Read more

US jobless claims persist even as Americans return to work

Business / Business News /

As business reopenings picked up nationwide, Americans filed nearly 2 million applications for unemployment benefits last week, reflecting a slowing -- though far from a halt -- in job losses.

Initial jobless claims for regular state programs totaled 1.88 million in the week ended May 30, Labor Department figures showed Thursday, down from 2.13...Read more