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It's time to rethink theme parks. Creative ways to reopen while social distancing

Business / Business News /

LOS ANGELES -- Knott's Berry Farm recently felt more like a national park than a theme park. Reopening for a Knott's-designed food event dubbed Taste of Calico, the Southern California park's famed ghost town was clear for roaming on an early Friday afternoon. And though there was an air of trepidation among the guests seeking boysenberry-fueled...Read more

Self-employed won't get to defer taxes under Trump's payroll break

Business / Business News /

Millions of self-employed individuals would be left out of President Donald Trump's move to defer payroll taxes for the last four months of the year, according to tax experts.

That's because the executive action specifically refers to taxes paid under Sec. 3101(a) of the Internal Revenue Code, which set the Social Security tax rate at 6.2% for ...Read more

Downtown Chicago businesses on edge after this morning's looting, vandalism. 'I feel like we are under attack.'

Business / Business News /

CHICAGO -- Downtown business owners still struggling during the coronavirus pandemic were scrambling to board up broken windows and take stock of damage after a wave of vandalism and looting early Monday morning.

For some, it was the second time this summer, following an earlier wave of looting that took place during the unrest that followed ...Read more

Downtown Chicago businesses on edge after this morning's looting, vandalism. 'I feel like we are under attack.'

Business / Business News /

CHICAGO -- Downtown business owners still struggling during the coronavirus pandemic were scrambling to board up broken windows and take stock of damage after a wave of vandalism and looting early Monday morning.

For some, it was the second time this summer, following an earlier wave of looting that took place during the unrest that followed ...Read more

Latin American governments move to scuttle Trump's pick for international development bank

Business / Business News /

WASHINGTON -- Diplomats from several Latin American and European countries are trying to delay next month's vote on President Donald Trump's nominee to lead a key international development bank, hoping to push the decision into next year, when a new U.S. president could be in office.

Trump broke norms by nominating a U.S. citizen from his ...Read more

Following order on payroll tax, Trump threatens to kill Social Security if reelected

Business / Business News /

With his four executive orders purportedly aimed at relieving Americans of the burdens of the coronavirus, President Trump spun the theme of his administration -- the Art of the Con -- up to a higher level.

The orders he signed Saturday include a supposed moratorium on evictions and foreclosures, a deferral of student loan payments and an ...Read more

UPS announces higher holiday shipping surcharges

Business / Business News /

UPS plans to levy higher holiday shipping surcharges on some of the biggest retailers that send out tens of thousands of packages a week.

UPS already has peak surcharges of 30 cents per package through Nov. 14 on ground residential shipments from those large corporate customers shipping significantly more packages. The company added surcharges ...Read more

Injured cruise ship worker 'forgotten' after seven months in South Florida hotels

Business / Business News /

From behind the locked window of his 10th-floor hotel room, Paul Cordova watches dozens of airplanes take off and land each day at Miami International Airport.

He can't get on any of them.

An injured Royal Caribbean Group crew member, Cordova, 48, has been living in South Florida hotels since January. He traveled from Peru to the U.S. to ...Read more

Royal Caribbean floats testing passengers for COVID-19 when cruising resumes

Business / Business News /

For likely the first time in Royal Caribbean Group's 52-year history, the company has gone nearly four months without a passenger cruise. It's no surprise then, that the company's second quarter earnings were the worst on record as the COVID-19 pandemic keeps the industry largely paralyzed.

In a financial filing Monday, Royal Caribbean Group ...Read more

Employers face payroll tax dilemma after Trump delays due date

Business / Business News /

President Donald Trump's order to delay collection of payroll taxes thrusts a dilemma on U.S. companies: continue withholding the money from workers expecting bigger paychecks or pass it on and potentially put themselves or their employees at risk of a big end-of-year bill from the IRS.

Trump signed an order over the weekend deferring the due ...Read more

Sharp, short US recession giving way to longer-term scarring

Business / Business News /

The pandemic-induced downturn initially had hints of being the sharpest but shortest U.S. recession on record. Now there are increasing signs of economic scarring that resemble past slumps.

Beneath a headline number showing a better-than-expected gain in July jobs, the government's employment report contained indications of underlying weakness....Read more

Twitter, not Microsoft, should buy TikTok

Business / Business News /

Let's be blunt. It makes no sense for Microsoft Corp. to buy TikTok.

Sure, a cohort of bankers and lawyers can make the case for how it would help the U.S. software giant "get back in the game" of social media and advertising. But the 45-year-old company pivoted away from pitching to consumers a long time ago, a move accelerated by Chief ...Read more

TikTok funds top creators to fend off rivals as Trump administration threatens ban

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TikTok on Monday pushed back against rivals eager to poach its U.S. video creators (and to lure their audiences), by financing a handful of influencers with large followings on its platform.

Nineteen creators, including six based in Los Angeles, will be the first to receive money from TikTok's $200-million U.S. creator fund, the company ...Read more

Standoff on US virus relief package leaves damage all around

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There were plenty of casualties left in the rubble of failed negotiations on another trillion-dollar-plus rescue package for a U.S. economy mired in a historic, pandemic-induced recession.

Worst hit are the families, businesses, and state and local governments that have had a safety net pulled out from under them at a time some data suggest ...Read more

TikTok's pain is Triller's gain. But will the L.A.-based video app's surge last?

Business / Business News /

LOS ANGELES -- It was the moment this Hollywood startup had long been waiting for.

When the future of TikTok was imperiled by President Trump's executive order on Thursday, a previously obscure Century City-based rival was poised to reap the benefits.

"We are absolutely positioned to be a replacement for TikTok if they do get banned," said ...Read more

McDonald's Sues Former CEO Easterbrook to Recover Severance

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McDonald's Corp. filed suit against its ousted leader Steve Easterbrook, alleging his termination last fall over a relationship with an employee shouldn't have included severance pay because he "concealed evidence and lied about his wrongdoing."

Easterbrook -- who was fired as chief executive officer in November "without cause" -- had ...Read more

Front-line workers are forced to become COVID mask police. It's stressing them out

Business / Business News /

The alert went out to Johann Baqueiro: A customer was sipping her Starbucks coffee inside the Ralphs supermarket and she wasn't wearing a face mask.

As a meat department manager, Baqueiro usually is focused on keeping customers happy with just the right cut for that night's dinner. But the other day, Baqueiro found himself once again leaving ...Read more

Trump banned TikTok and WeChat. Are video games next?

Business / Business News /

President Trump's two executive orders targeting Chinese companies went public just after 6 p.m. Pacific on Thursday.

The first went after TikTok, to no one's surprise. The video app had been the subject of intensifying rhetoric from the Trump administration for weeks. The order declared that all U.S. entities would be banned from doing ...Read more

Canada hits back, calls Trump most protectionist president ever

Business / Business News /

Justin Trudeau's government will hit the U.S. with retaliatory tariffs after President Donald Trump announced plans to impose duties on Canadian aluminum.

At a press conference in Ottawa, Deputy Prime Minister Chrystia Freeland released a list of more than 60 U.S. aluminum-containing products that could face higher tariffs, but vowed not to ...Read more

Bob Greenblatt, Kevin Reilly exit WarnerMedia in dramatic shake-up

Business / Business News /

In a sweeping reorganization, WarnerMedia on Friday ousted two of its top programming chiefs: Bob Greenblatt and Kevin Reilly.

The move comes less than three months after former Hulu chief Jason Kilar took the helm of the AT&T-owned media company, and after the launch of its high-stakes streaming service, HBO Max, which has gotten off to a ...Read more