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Tesla builds another production line to make Model 3 cars more quickly

Business / Business News /

Electric car manufacturer Tesla Inc. has set up an additional, no-frills production line to churn out vehicles, according to Chief Executive Elon Musk.

Musk tweeted a photo Saturday of a general assembly line that he said was built in three weeks with "minimal resources." The photo shows a Model 3 rolling off the line in what appears to be a ...Read more

Furniture retailers, discounters among retailers claiming former Toys R Us stores

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Many Toys R Us stores are still conducting going-out-of-business sales, but as the toy chain sells off the last of its merchandise, it's also begun selling its stores.

The bidders in early store auctions give a look at the kinds of stores that will fill the empty properties Toys R Us leaves behind. Retailers including Aldi, Burlington, Ollie's ...Read more

Trump Tower, one of largest users of Chicago River water, has never met EPA rules for protecting fish, records show

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CHICAGO -- Fishing piers and floating gardens welcome anglers to the Chicago Riverwalk, but a few blocks upstream is a little-known threat to fish and other aquatic life in the city's steadily improving waterway: Trump International Hotel & Tower.

State records obtained by the Tribune show the president's glass-and-steel skyscraper is one of ...Read more

Cargill sounds alarm as possible trade war looms

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WASHINGTON -- Devry Boughner Vorwerk's speech to global development experts in the nation's capital last week was a call to action.

Global trade, said Cargill's chief of global corporate affairs, can be a development tool that promotes the environment, education and equality. But only if people and organizations become activists willing to work...Read more

U.S. whiskey producers fear being casualties of possible trade war

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Makers of American whiskey worry the increasing likelihood of retaliatory tariffs, particularly from the European Union and China, could hurt business after years of booming growth abroad.

The Trump administration announced Friday that it was moving forward with 25 percent tariffs on $50 billion worth of Chinese goods, most of which will go ...Read more

Consumer Confidential: 50,000 percent markup for a shot makes the case for a single-payer healthcare system

Business / Business News /

A single-payer healthcare system once again is being talked about for California -- the leading candidate for governor supports the idea -- and once again the issue is being framed as a debate between starry-eyed dreamers and sober-minded realists.

It doesn't have to be an either/or proposition.

The reality is that California could, and should...Read more

The Journey: Keeping an eye on the big numbers of retirement

Business / Business News /

Critics panned it, but there's a great line from the 1979 film "The Main Event" that pretty much sums up our weird relationship with money.

Barbra Streisand played an entrepreneur who has just learned her business manager has run off with virtually all of her financial assets.

"When you say I have no money, do you mean I have to be careful at ...Read more

Susan Tompor: Why Fed rate hike can drive you to pay down credit cards

Business / Business News /

For roughly a decade, millions of consumers could afford to focus on the rewards and ignore the rates on their credit cards.

"They haven't really had to think too much about interest rates because they didn't change that much," said Robert A. Dye, chief economist at Comerica Bank.

Game over. Get ready for higher rates on your credit cards ...Read more

On Philanthropy: Community foundations are key partners in achieving U.N. Goals

Business / Business News /

The world's first community foundation was established in Cleveland in 1914. Today, there are almost 1,900 community foundations -- 75 percent of them created in the last 25 years. Among these are 1,033 in North America, 670 in Europe, 62 in Asia, 56 in Oceania, 31 in Africa and 11 in South America.

Community foundations are independent ...Read more

'Incredibles 2' smashes record with biggest opening ever for animated film

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LOS ANGELES -- The Pixar superhero movie "Incredibles 2" made 14 years of anticipation worth the wait for Disney, as the follow-up to 2004's "The Incredibles" smashed the record for highest animation debut of all time with an estimated $180 million in ticket sales for the U.S. and Canada, according to the measurement firm ComScore.

"Pixar has ...Read more

Iran Says 3 OPEC members will veto Saudi-backed oil production boost

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LONDON –– Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that's backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week.

"Three OPEC founders are going to stop it," Iran's representative to the bloc, Hossein Kazempour Ardebili, said Sunday. "If the Kingdom of Saudi ...Read more

Visionaries and scoundrels made the Los Angeles Times, which returns to local ownership after 18 years

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LOS ANGELES--The Los Angeles Times rose to prominence under the leadership of a bellicose, union-busting Civil War colonel who kept an arsenal of shotguns in the newsroom in case of labor strife and drove through the city with a custom horn that looked like a cannon mounted to his hood.

For more than a century, starting in 1882, Harrison Gray ...Read more

Profiting from pain: 'Murderabilia' has macabre appeal to collectors

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The Murder Museum bragged about selling two rocks snatched from the scene of Florida's worst school shooting.

"Sold! Two rocks taken from the grounds of Marjory Stoneman Douglas High School. $85 shipped," read a post on its Facebook page, which also included a photo of the killer.

It isn't the only dealer of morbid merchandise known as "...Read more

Sale of LA Times to close Monday

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LOS ANGELES –– Biotech billionaire Patrick Soon-Shiong Monday will take control of the Los Angeles Times and San Diego Union-Tribune, two historic newspapers rooted in Southern California civic life for more than 135 years and now must adapt for the digital age.

Soon-Shiong is spending $500 million to acquire the Times and Union-Tribune, ...Read more

Major US airlines aren't heeding China's warning to refer to Taiwan as a part of the country

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A demand by China that all air carriers worldwide refer to Taiwan, Hong Kong and Macau on online maps and drop-down menus as Chinese territories -- not as independent regions -- is being ignored by the U.S.'s biggest airlines.

The order from Beijing came in May, and dozens of foreign-based carriers have already fallen in line.

The Associated ...Read more

Here's how a trade war between the US and China could play out

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WASHINGTON -- President Donald Trump is betting that Beijing will blink first in the showdown over tariffs. Such an outcome is far from assured -- and it could also take a while.

Trump said Friday that the U.S. will impose duties on $50 billion worth of Chinese imports, with the first tariffs to cover $34 billion worth of goods and take effect ...Read more

California gains just 5,500 jobs in May; unemployment stays at record-low 4.2 percent

Business / Business News /

The California economy cooled a bit in May as employers added just 5,500 net jobs. The unemployment rate held steady at a record low of 4.2 percent, according to data released Friday by the state's Employment Development Department.

The numbers reflect a slowdown from April, when the state added 25,600 jobs, according to Friday's downward ...Read more

Why is Tesla fighting a rule that would force electric-car manufacturers to treat their workers well?

Business / Business News /

A new California rule saying that state rebates for electric cars can go only to manufacturers certified as being "fair and responsible" in their treatment of workers has put Tesla, the state's only major EV maker, in a tough position.

On the one hand, Tesla says, "we strive to be a fair and just company," that it complies with all California ...Read more

Theranos' Elizabeth Holmes and 'Sunny' Balwani are indicted, accused of fraud schemes

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Theranos Inc. founder Elizabeth Holmes and former company Chief Operating Officer Ramesh "Sunny" Balwani have been charged by a federal grand jury of wire fraud and conspiracy to commit wire fraud, the Justice Department said Friday.

According to the Justice Department, the two engaged in a "multi-million scheme to defraud investors" and were ...Read more

Google reports little progress on diversity, high black and Latino attrition

Business / Business News /

Google's latest diversity report, its first since the company's controversial firing of employee James Damore, shows continued struggles in its goal to make its workforce more diverse: The number of women, black and Latinx employees rose just 0.1 percent in the past year.

So the tech giant is doubling down and making changes, including making ...Read more