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Brant Sanderlin/The Atlanta Journal-Constitution/TNS

Savannah port has record April as some ships switch from West Coast

Business / Business News /

The Port of Savannah had its busiest April on record, handling nearly a half-million 20-foot containers — nearly one of every nine passing through an American port, according to officials at the Georgia Ports Authority.

That trade activity — the third-busiest month the port has ever had — came despite gaps in global shipments caused by ...Read more

Andrei Gabriel Stanescu/Dreamstime/TNS

After prospering in the pandemic, Target is now a symbol of inflation's impact

Business / Business News /

Target Corp., whose growth in the pandemic pushed its stock to record heights, on Wednesday became a symbol of inflation's toll on the American economy.

The Minneapolis-based retailer's latest quarterly profit was halved compared to a year ago as it contended with higher costs and changes in shopping habits, news that spooked investors fearing ...Read more

Dreamstime/Dreamstime/TNS

Fights over contract, long hours divide cinematographers' union

Business / Business News /

LOS ANGELES — Rebecca Rhine recently announced that she would be stepping down as national executive director of the International Cinematographers Guild when her contract expired in September.

In a letter to colleagues, Rhine cited her concerns about mistrust and infighting within Local 600 of the International Alliance of Theatrical Stage ...Read more

Eduardo Contreras/San Diego Union-Tribune/TNS

Stone Brewing settles trademark lawsuit with rival craft brewery over 'Keep It Juicy' tagline

Business / Business News /

Stone Brewing has settled a trademark lawsuit brought by North Carolina craft beer maker Sycamore Brewing over the catch phrase "Keep It Juicy" — with both sides walking away without paying damages.

The settlement came last week, shortly after Stone Brewing filed a countersuit against Sycamore calling its legal action a "sham." The Escondido,...Read more

Dreamstime/Dreamstime/TNS

Stocks set to sink as bonds jump on growth fears: Markets wrap

Business / Business News /

A slump in stocks is set to continue in Asia on Thursday after mounting fears of an economic downturn hit US shares and spurred a flight to havens including Treasuries and the dollar.

Futures signal declines loom for Japan, Australia and Hong Kong in the wake of a 4% plunge in the S&P 500, the biggest daily drop in almost two years. The ...Read more

Andrei Gabriel Stanescu/Dreamstime/TNS

Inflation crushes Target's profit, shares plunge 25%

Business / Business News /

Inflation smacked Target Corp. over the past three months, leading to a profit drop that surprised investors and triggered a huge selloff of its stock.

The Minneapolis-based retailer dealt both with higher costs from supply chain issues and reduced discretionary spending on certain items like furniture as customers faced higher living costs.

...Read more

Theodore Parisienne/TNS

Grubhub customers learn there's no such thing as a free lunch after all

Business / Business News /

Grubhub’s attempts to drum up buzz for its food-delivery service by offering “free” lunch in New York didn’t exactly generate the kind of publicity the company was hoping for.

On Tuesday, the company offered New Yorkers a “free” lunch, excluding tips and fees, up to the value of $15 between 11 a.m. and 2 p.m. The promotion was ...Read more

Win McNamee/Getty Images North America/TNS

Mastercard to cover employees' travel for out-of-state abortions

Business / Business News /

Mastercard Inc. said it would help pay for workers to travel to access abortions if pregnancy terminations aren’t available in their home state.

“We will continue to offer employees access to the same health care, including family planning and reproductive benefits, that is available today wherever they live,” the credit-card company said...Read more

Andrei Gabriel Stanescu/Dreamstime/TNS

Inflation crushes Target's profit, shares plunge 25%

Business / Business News /

Inflation smacked Target Corp. over the past three months, leading to a profit drop that surprised investors and triggered a huge selloff of its stock.

The Minneapolis-based retailer dealt both with higher costs from supply chain issues and reduced discretionary spending on certain items like furniture as customers faced higher living costs.

...Read more

Drew Angerer/Getty Images North America/TNS

Michael Hiltzik: Here's why the arguments against canceling student debt make no sense

Business / Business News /

The debate over the cancellation of student debt has been going on for so long in America that reiterating the arguments pro and con no longer seems necessary.

What may not be so well understood, however, is how incoherent the opposition arguments are. So we'll focus on that.

First, a quick tour of the student loan landscape.

To begin with, ...Read more

Chip Somodevilla/Getty Images North America/TNS

Senators seek FTC probe of IRS provider ID.me selfie technology

Business / Business News /

A group of Democratic senators has asked the Federal Trade Commission to investigate whether identity verification company ID.me illegally misled consumers and government agencies over its use of controversial facial recognition software.

ID.me, which uses a mixture of selfies, document scans, and other methods to verify people’s identities ...Read more

Kevin Dietsch/Pool/AFP/Getty Images North America/TNS

Yellen's grand global corporate tax plan risks Congress flop

Business / Business News /

Treasury Secretary Janet Yellen’s success in securing the biggest global corporate-tax reform in decades risks flopping in her own country’s legislature, potentially sowing the seeds for renewed international tensions in coming years.

Heralded as a “historic agreement” when the two-part deal was reached last October, the framework would...Read more

Brian Cassella/Chicago Tribune/TNS

Chicago Reader completes transition to nonprofit following months of turmoil

Business / Business News /

The Chicago Reader completed its transition to a nonprofit organization Monday, starting a new chapter for the iconic 51-year-old alternative newspaper.

The sale to the nonprofit Reader Institute for Community Journalism follows months of turmoil, as the owners who rescued the money-losing newspaper from insolvency battled over its direction. ...Read more

Dreamstime/TNS

Home Depot revenues up in strong start to year

Business / Business News /

Home Depot had sales of $38.9 billion during the first quarter of its fiscal year, powering through inflation with a continued surge of demand from consumers who want to buff up their homes, the company reported Tuesday.

Revenues during the three months ending April 30 were 3.8% higher than the same period a year earlier, as the Vinings-based ...Read more

Ford Motor Co./TNS

Ford-backed Argo AI launches driverless car testing

Business / Business News /

Argo AI, a robotaxi startup that has the backing of Ford Motor Co. and Volkswagen AG, said Tuesday it's launching driverless test rides in Miami and Austin, Texas.

The removal of human safety drivers is a milestone for the Pittsburgh-based autonomous vehicle technology company that was founded in 2016.

"Argo is first to go driverless in two ...Read more

Dreamstime/TNS

Netflix cuts 150 jobs after subscriber slump, revenue slowdown

Business / Business News /

Netflix on Tuesday announced it was cutting 150 jobs amid a slowdown in revenue and a decline in subscribers that has shaken the entertainment industry.

The company did not say what departments would be affected by the cuts, though most of the job losses are in the U.S.

“As we explained on earnings, our slowing revenue growth means we are ...Read more

Cadillac/TNS/TNS

Cadillac releases new details on electric Lyriq ahead of May 19 order-bank opening

Business / Business News /

Ordering for General Motors Co.'s first electric Cadillac opens this week on the 2023 Lyriq crossover with the $62,990 rear-wheel drive option getting an estimated 312 miles of range on a charge, the automaker said Monday.

Range will be released later on the $64,990 all-wheel drive option, which has a second drive unit. The prices are ...Read more

Michael Hiltzik: Mark Berman, pusher of unproven stem cell therapies, dies while awaiting verdict in FDA lawsuit

Business / Business News /

For years, California cosmetic surgeon Mark Berman was a leader of that corner of the healthcare world pushing unproven and unapproved stem cell treatments for a host of medical conditions.

Berman aired his claims for what he called "magic cells" in a book, video appearances and through a network of affiliated clinics around the country. Those ...Read more

Aric Crabb/Bay Area News Group/TNS

Google opens futuristic Mountain View campus where 4,000 will work

Business / Business News /

MOUNTAIN VIEW, California — Google this week opened its Bay View canopy campus at NASA Ames in Mountain View, saying 4,000 people will work at the futuristic green complex powered by solar panels that resemble dragon scales.

The three-building development, along with Google’s Charleston East project in Mountain View that’s set to open in ...Read more

KKR/KKR/TNS

This Illinois company was just sold for $3 billion, but hundreds of employees are getting a cut. Some will get $800,000

Business / Business News /

When private equity firm KKR announced the $3 billion sale Monday of C.H.I. Overhead Doors to steel company Nucor, it created a windfall for hundreds of hourly workers at the plant in tiny Arthur, Illinois, who will receive between $20,000 and $800,000 each when the transaction closes.

The deal represents a huge return on investment for KKR, ...Read more