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US ends Airbus subsidies dispute and pivots to confront China -- risking Boeing jet sales

Business / Business News /

Years of litigation initiated by Boeing against Airbus in 2004 at the World Trade Organization came to a whimpering end Tuesday, with little to show for 17 years of legal pressure.

More worrisome for Boeing, the trade deal the Biden administration announced with the European Union includes an agreement that the two sides will now pivot to ...Read more

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Michael Hiltzik: As Wall Street changed, one historic firm stood fast -- for the better

Business / Business News /

It may be the most distinguished Wall Street firm you never heard of: Brown Bros. Harriman & Co. traces its lineage back to 1800, when Alexander Brown moved to Baltimore from Belfast and started a linen trading company.

In 1931, what was then Brown Bros. merged with two relatively new-money firms that had been founded by Averell and Roland ...Read more

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Amid inflation worries, Fed signals an earlier increase in interest rates

Business / Business News /

WASHINGTON — The Federal Reserve signaled Wednesday that it would likely nudge up interest rates sooner than previously expected in response to sizzling economic growth and a spike in prices that has sparked inflation fears.

Fed officials, after their two-day meeting, left the central bank’s main interest rate near zero. But policymakers ...Read more

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Google to open first retail store steps away from Apple in NYC

Business / Business News /

Google will open its first retail store in New York City, highlighting the internet giant’s effort to promote its consumer hardware devices.

The store, in Manhattan’s trendy Chelsea neighborhood, will open to the public Thursday, the Mountain View, California-based company said Wednesday in a blog post. The shop, which is a block away from ...Read more

Kevin Moloney/TNS

New Alzheimer's treatment Aduhelm may be too costly for many seniors, deepening inequities

Business / Business News /

The price tag of $56,000 per year for Biogen's new Alzheimer's treatment could come with a bitter pill for some Medicare beneficiaries: out-of-pocket costs of up to $11,500.

That financial hit is troubling to consumer advocates, because it raises the prospect of an even more divided health system: Many seniors will be unable to afford this drug...Read more

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Arianne Cohen: 5 ways community colleges fail students, and how to avoid them

Business / Business News /

The Achilles heel of community colleges also happens to be their strength. They’re flexible, affordable and supportive of students from all walks of life. But because of that flexibility and chronic underfunding from state and local governments, “they’re often not providing very consistent, structured support,” says Xueli Wang, author of...Read more

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Arianne Cohen: 5 best reasons to attend a community college

Business / Business News /

Community college seems like an oasis of affordable opportunity: It’s cheap! It’s nearby! And you can just see the number in your bank account ballooning with the salary boost from your new degree or certificate! But proceed with caution. Without a strategy, community college can also be a bonfire of wasted time and funds.

The key, says ...Read more

Eric Seals/Mandi Wright/Detroit Free Press/TNS

Everything you need to know about the chip shortage that's plaguing automakers

Business / Business News /

They are a little bigger than a coin the size of a quarter, but tiny semiconductor chips are bringing production of vehicles across the nation to a halt.

Car dealers have barren parking lots, consumers face limited options on new vehicle purchases and buyers must wait, and wait, for their new ride to be built. Tens of thousands of new vehicles ...Read more

Duane Braley/Minneapolis Star Tribune/TNS

Tech Q&A: How to get good Wi-Fi reception in a really old house

Business / Business News /

Q: We have 114-megabit cable internet service in a 100-year-old house. When we stream to our TVs, we constantly have problems with buffering (delays while the TV waits for the streaming to catch up).We have the most buffering delays with the second-floor TV (about 10 feet on the other side of a wall from the wireless router) and two TVs on the ...Read more

Antonio Perez/Chicago Tribune/TNS

Motormouth: Cleaning a steering wheel

Business / Business News /

Q: I hate sticky fingers – especially when my leather covered steering wheel becomes sticky. During the pandemic I discovered that disinfecting wipes did an excellent job of totally removing stickiness with no apparent residue left over. Unfortunately, I have developed an allergic reaction to the wipes – even when cleaning my steering wheel ...Read more

Megan Jelinger/AFP/AFP/TNS

Lordstown Motors new management says it may seek money from General Motors

Business / Business News /

In a reversal, Lordstown Motors' new management said the company isn't so bad off after all and has enough confirmed preorders for its electric pickup to start production this fall with enough money to run through early next year.

The sunnier outlook comes days after the company stated in a government filing that it did not have enough funds to...Read more

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Welcome to the summer of quitting. Why many of us are saying goodbye to our jobs

Business / Business News /

In late May, Sarah Lynch pulled the rip cord.

The 31-year-old brand designer had been working at Coursera, the online education company, for five years. During the pandemic, a booming business in virtual learning meant Lynch was busier than ever — and sinking into burnout.

"I love my company, and I love my work, but I couldn't keep pushing ...Read more

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GM, Wabtec partner for zero-emission locomotives

Business / Business News /

All aboard!

General Motors Co. on Tuesday said it is expanding the uses of its Ultium batteries and Hydrotec hydrogen fuel cell systems for locomotives in a partnership with transportation solutions provider Wabtec Corp.

Financial details of the signed nonbinding memorandum were not immediately disclosed. Wabtec, based in Pittsburgh, will ...Read more

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Ford starts shipping new Bronco, filling 125K orders

Business / Business News /

The Bronco has finally been released into the wild.

"The Broncos are out of the gates, out of the corral," Erik Williams, Ford plant manager at Michigan Assembly Plant in Wayne, told a handful of reporters on Monday during a tour.

Take a step back in time: This bestselling SUV was last built in 1996, the year that the Fox News Channel debuted,...Read more

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Retail sales, factory data show growing pains for US recovery

Business / Business News /

An onslaught of economic reports on Tuesday added to evidence of a U.S. recovery in full swing, yet one experiencing growing pains.

While retail sales in May fell more than forecast, Americans may simply be shifting more of their spending to services such as travel and entertainment. The government’s report also showed merchant receipts were ...Read more

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As traffic rebounds in LA, commuters say they won't go back to the way things were

Business / Business News /

It was the peak of the pandemic when Tiffanie Trinh was offered a job as an IT support technician for Taco Bell and told she could work remotely until further notice. Traffic was practically nonexistent at the time, but she dreaded the one-hour slog between her apartment in Long Beach and her new office in Irvine that awaited.

Her previous job ...Read more

Students and young workers benefit from best summer job market in years

Business / Business News /

The reopening economy — coupled with the reluctance of some older workers to go back to lower-wage positions during a pandemic — has brought a shower of jobs to young people, economists say.

A report by the Bureau of Labor Statistics said that more than 5.4 million U.S. teenagers between 16 and 19 years old had jobs in May, an increase of ...Read more

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Meet Loki, Hyundai pitchman. Can Marvel streaming shows sell SUVs and Disney+?

Business / Business News /

Meet Loki of Asgard, god of mischief and pitchman of compact SUVs.

As Walt Disney Co.-owned Marvel unveils its latest Disney+ series, "Loki," which premiered last week, the studio's popular superheroes have teamed with automaker Hyundai in an elaborate campaign to promote the new Tucson and the company's all-important streaming service.

The ...Read more

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GE and Safran tout new 'open rotor' engine future for sustainable aviation

Business / Business News /

To advance the goal of achieving environmentally sustainable aviation, the jet engine giants of the U.S. and France on Monday unveiled a joint vision that would significantly change both the look of airplane engines and how they work. Their timeline suits Airbus but may be problematic for Boeing.

For the next big advance in future aircraft ...Read more

Dreamstime/TNS

Arianne Cohen: Want a lucrative career? Take jobs that force you to make decisions

Business / Business News /

By Arianne Cohen

Rate.com careers editor

To launch your career into the stratosphere, aim for roles with ample decision-making tasks.

“It’s basically impossible to keep getting pay increases after (age) 35 or 40 if you’re not in a job that requires decision-making,” says David Deming, a professor of public policy at Harvard Kennedy ...Read more