Business

/

ArcaMax

Anthony Souffle/Minneapolis Star Tribune/TNS

Cargill eliminating trans fats from global edible oil supply

Business / Business News /

Cargill announced Monday that it plans to eliminate trans fats from its edible oils over the next two years, in line with a World Health Organization goal of phasing the heart-unhealthy substance out of global diets by the end of 2023.

The Minnetonka-based global agribusiness company is among the top three producers of edible oil worldwide, and...Read more

Al Seib/Los Angeles Times/TNS

Michael Hiltzik: Has Biden moved to finally kill California's dumbest water project?

Business / Business News /

Desperation over water scarcity has produced any number of schemes to relieve the crisis. But few are as chuckle-headed as a plan to pump groundwater from beneath the Mojave Desert and transport it 200 miles to urban Southern California.

This is the Cadiz water project, which has been percolating along since the turn of the century.

I've been ...Read more

Luis Sinco/Los Angeles Times/TNS

Feds investigating Tesla over claims related to solar panel fire risks: Report

Business / Business News /

Federal regulators have opened an investigation into Tesla after a former employee alleged the company failed to notify the public and shareholders about potential fire risks related to solar panels.

Reuters news service first reported Monday that the U.S. Securities and Exchange Commission was investigating the Austin-based automaker. Tesla ...Read more

Yamil Lage/AFP/Getty Images North America/TNS

The Cuban government weighs allowing foreign companies to invest in the private sector

Business / Business News /

In a first in the communist island, the Cuban government is considering allowing foreign investment into private small and medium-size businesses as the country hits a deep recession and discontent grows.

Following criticism and a cold response from Cubans abroad and potential investors to the current law, the Cuban National Assembly will ...Read more

Justin Sullivan/Getty Images North America/TNS

Don't throw away money. What to do with your FSA at the end of the year

Business / Business News /

Is your healthcare flexible spending account balance burning a hole in your pocket? Don't rush to spend it just yet.

The accounts, known as FSAs, allow you to set aside pre-tax income to spend on qualified medical purchases. That includes doctor's bills, co-pays and prescriptions — as well as a lot of over-the-counter medications and other ...Read more

Chip Somodevilla/Getty Images North America/TNS

Big companies look to Senate to ease budget bill's minimum tax

Business / Business News /

Some of the largest U.S. corporations are looking for new exemptions from the budget reconciliation bill’s minimum tax on income reported to shareholders, arguing it could depress economic activity, including financing pensions for millions of workers and investing in clean energy projects.

Since it became clear in late October that the 15 ...Read more

Dreamstime/Dreamstime/TNS

Vanguard to launch single-country China Select Stock Fund in 2022 amid delisting of US-traded Chinese companies

Business / Business News /

In a departure, Vanguard plans to launch an actively managed single-country China mutual fund in 2022, and chose Wellington Management and Baillie Gifford as the portfolio managers, citing a "track record of outperformance in Chinese equity markets."

The $8.3 trillion fund giant is launching a U.S.-listed China mutual fund, despite Vanguard ...Read more

Mark Mirko/Hartford Courant/TNS

New England's power system is at 'heightened risk' heading into winter. Grid operator warns of possible power outages if an extended cold snap hits the region

Business / Business News /

New England’s electric grid operator warned Monday that power outages are possible if an extended cold snap this winter grips the region and fuel supplies are pinched as demand spikes.

ISO-New England said natural gas pipeline constraints and global supply chain problems related to deliveries of oil and liquefied natural gas are placing New ...Read more

Al Seib/Los Angeles Times/TNS

$18 minimum wage? An LA investor is trying to get that on the ballot

Business / Business News /

California voters could get to decide whether the state minimum wage goes up to $18 an hour, at a time when rising prices and living costs are eating into workers' household incomes.

Joe Sanberg, a Los Angeles investor and anti-poverty activist, spearheaded the Living Wage Act of 2022, which was filed with the state attorney general's office ...Read more

Dreamstime/Dreamstime/TNS

Hackers said to seize $150 million from BitMart exchange

Business / Business News /

Hackers withdrew about $150 million of cryptocurrencies from BitMart wallets, according to the unverified Twitter account of the exchange’s chief executive officer.

“We have identified a large-scale security breach related to one of our ETH hot wallets and one of our BSC hot wallets,” Sheldon Xia wrote in the first of three tweets, ...Read more

Mel Melcon/Los Angeles Times/TNS

The price before Christmas: Costs of holiday decorations head north

Business / Business News /

LOS ANGELES — It was late Thursday morning and Aldik Home was bustling with dozens of shoppers perusing the showroom decked out with thousands of Christmas lights and dozens of trees hung with all manner of ornaments and ribbons.

The 6-decade-old Van Nuys retailer’s Christmas displays have gained some notoriety in the past, with the ...Read more

Shake Shack opens its first drive-thru in Minnesota next week

Business / Business News /

The nation's first Shake Shack drive-thru is opening Monday in Maple Grove, MInnesota serving up its ShackBurgers and crinkle-cut fries to people on the go.

Shake Shack has been envisioning drive-thru service for some time, said Randy Garutti, chief executive of the New York-based company. To make it happen, executives have rethought the ...Read more

'Room for improvement': US labor secretary cites weak hiring in hospitality industry

Business / Business News /

U.S. Secretary of Labor Martin Walsh said Friday that he sees “room for improvement” in job growth in the hospitality sector, a key part of South Florida’s economy, after a disappointing November jobs report.

“There’s room for improvement in hospitality and room for growth in tourism, which is a big driver of the economy in a lot of ...Read more

Brian van der Brug/TNS

Michael Hiltzik: This proposed ballot measure would make Californians for the ag industry's water inefficiency

Business / Business News /

Whoever coined the phrase "Whisky is for drinking, water is for fighting" didn't have things quite right.

In California, water is for scamming. The newest example is a majestically cynical ploy being foisted on taxpayers by some of the state's premier water hogs, in the guise of a proposed ballot measure titled the "Water Infrastructure Funding...Read more

Robyn Beck/AFP/Getty Images North America/TNS

US payrolls growth slowed in November while jobless rate fell

Business / Business News /

U.S. job growth registered its smallest gain this year while the unemployment rate fell by more than forecast to 4.2%, offering a mixed picture that may nevertheless push the Federal Reserve to quicken the wind-down of pandemic stimulus.

Nonfarm payrolls climbed 210,000 in November after upward revisions to each of the prior two months, a Labor...Read more

Mark Phelan: Winter driving safety tips: What to do before weather gets bad

Business / Business News /

How's your washer fluid?

Whether you live in an area where cold temperatures, snow and ice are routine or occasional, the beginning of the holiday driving season is a good time to make sure you and your vehicle are ready for winter. Climate change has made regions well beyond the traditional frost belt susceptible to tricky, even dangerous, ...Read more

Susan Tompor: Special tax break for charitable donations packs extra incentive for giving

Business / Business News /

Charitable giving during the holiday season this year takes on a new, happier meaning when it comes to tax deductions.

Typically, most people aren't able to get a tax break when they donate money to a charity if they're claiming the standard deduction on their federal income tax returns. And nearly nine out of 10 taxpayers are taking that ...Read more

Quick Drives: 2022 Jeep Grand Cherokee Summit L

Business / Business News /

There's an all-new redesigned 2022 Jeep Grand Cherokee — including the 4xe hybrid — and a Wagoneer revival coming down the road this winter. But the three-row Grand Cherokee L version, introduced for 2021 and the first three-row Jeep since the 2010 Commander, beat them to the showrooms.

OUTSIDE: The Grand Cherokee L is noticeably bigger ...Read more

Officials say the ports logjam is easing, but numbers don't tell the whole story

Business / Business News /

San Pedro Bay is looking less crowded these days. The fleet of massive container ships loitering just offshore from the ports of Long Beach and Los Angeles has thinned to 46 boats from its peak of more than 80 in late October.

Is that a good sign for Southern California's congested supply chain, and the breathability of its air? That depends on...Read more

Dreamstime/Dreamstime/TNS

The Week Ahead: From transitory to entrenched -- inflation and expectations

Business / Business News /

Words matter in the investing world. So does data.

Investors will be measuring one with the other on Friday in the week ahead with the November release of consumer inflation.

For months the Federal Reserve’s official position on rising prices had been that they were “transitory.” The “this too shall pass” message was designed to ...Read more