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Renters are being forced out of Philadelphia apartments to make way for tourists

Business / Business News /

PHILADELPHIA -- Residents of the Lofts at 509 Vine apartments near Philadelphia's historic Old City are to be replaced with business travelers and tourists, as the property becomes the latest in the city to fall under the control of a new breed of tech-enabled startups that are converting residential real estate into visitor accommodations.

...Read more

'Super commuters' not slowing down in California. Lack of housing to blame

Business / Business News /

The majority of Californians drive to work, but an increasing number face commutes well over an hour-long to reach jobs in larger cities. For now, at least, the rise of the super commuter is not slowing down, according to an analysis of census data by Apartment List.

In 2017, 41 out of 58 counties saw at least moderate growth in the share of ...Read more

Real estate Q&A: My great condo deal could now cost me a ton of money

Business / Business News /

Q: I got a great deal on a condo that the seller had bought at a foreclosure sale and cleaned up. I used my savings and did not take a mortgage. Now I am concerned that I did not get such a great deal because the condo association is demanding a lot of money. To make matters worse, I just got a letter from a mortgage company demanding payment. ...Read more

As Trump presses trade war, farmers feel the squeeze

Business / Business News /

Many Midwestern farmers decided last winter to plant soybeans in spring assuming that, by now, President Donald Trump's trade war with China would be over and China would be back to buying about a third of soybeans grown in the United States.

"At that time, trade negotiations were moving along, and it wasn't looking that bad," said John ...Read more

Urban Outfitters could increase prices a few dollars and 'no one would notice,' CEO says

Business / Business News /

The only negatives Urban Outfitters, Inc., CEO Richard Hayne said he sees in front of the company are political ones.

"Trade wars and Brexit," he told analysts on a Tuesday conference call.

Philadelphia-based Urban Outfitters, the parent company of Urban Outfitters, Anthropologie, Free People, BHLDN, Terrain, and the new clothing subscription ...Read more

Consumer Confidential: CEOs say they care about customers and workers. Propaganda experts are unimpressed

Business / Business News /

Kenneth Osgood studies propaganda. So he knew what he was seeing when business leaders announced this week that they don't just care about shareholders -- they care about customers, workers and society.

"I raised my eyebrows really high when I saw this," Osgood, a history professor at Colorado School of Mines, told me.

He said it instantly ...Read more

Kids are dying in hot cars at an alarming rate; safety agency tweets for awareness

Business / Business News /

The numbers are sickening: 10 children dead in 20 days.

They were little girls and boys who died in hot cars just in the last few weeks, a growing crisis that's perplexing in part because experts say the deaths are both unintentional and preventable.

Some automakers have deployed technological solutions, but making them standard on all new ...Read more

$960 billion deficit expected this year, more than $1 trillion next

Business / Business News /

WASHINGTON -- The Congressional Budget Office has upped its estimate of current and future deficits largely as a result of the two-year budget deal enacted last month, which the agency projects will add $1.7 trillion in red ink over 10 years.

That forecast assumes that the increased spending in fiscal 2020 and 2021 thanks to the higher caps ...Read more

Spider-Man is leaving the Marvel Cinematic Universe after Sony and Disney talks fall apart

Business / Business News /

Spider-Man appears to have taken his last swing through Walt Disney Co.'s Marvel Cinematic Universe.

Kevin Feige, the president of Disney-owned Marvel Studios, will no longer produce the "Spider-Man" movies released by rival studio Sony Pictures after the two companies failed to come to a new agreement, according to three people familiar with ...Read more

Target posts another strong quarter with 3.4% rise in comparable sales

Business / Business News /

MINNEAPOLIS -- Target's winning streak continued into the summer with the retailer posting a 3.4% jump in comparable sales and raising its profit outlook for the full year.

Traffic rose 2.4% in the second quarter, driven partially by a 34% increase in digital sales and its same-day delivery services through in-store and curbside pickup and ...Read more

Michigan steel plant warns it will lay off nearly 200 workers

Business / Business News /

DETROIT -- The U.S. Steel operation in Ecorse, Mich., will temporarily lay off nearly 200 workers because of "market conditions and recent reductions in customer demand," the company said in a filing with Michigan state government.

The WARN Act filing said about 50 employees have been laid off since July and "further layoffs are likely to ...Read more

Florida health department workers say they could be fired for speaking Spanish

Business / Business News /

Seven Puerto Rican workers from Central Florida said they were threatened with losing their jobs because they spoke Spanish inside their workplace, Channel 8 News reported.

The all-women group, consisting of five nurses, a secretary, and an administrative assistant who work in the Florida Health Department clinic in Haines City in Polk County, ...Read more

Once listed for $1 billion. Sold for $100,000. What just happened?

Business / Business News /

LOS ANGELES -- A heated court battle, a last-second offer and a sparsely attended auction behind a fountain in Pomona -- this chapter of the famed Mountain of Beverly Hills ends not with a princely sum but a sale price more like that of a sports car.

Touted as the city's finest undeveloped piece of land, the 157-acre property redefined the ...Read more

Palantir's controversial ICE contract renewed

Business / Business News /

A Palantir contract to provide technology to U.S. immigration authorities has been renewed for up to three years, according to a government document made public this week.

The Department of Homeland Security and U.S. Immigration and Customs Enforcement approved the renewal July 22, the document shows. How much the government is paying Palantir ...Read more

FAA cautions airlines on maintenance of sensors that were key to 737 Max crashes

Business / Business News /

Following two deadly crashes of the Boeing 737 Max, both of which were initiated by a faulty reading from a single angle of attack sensor, the Federal Aviation Administration (FAA) has cautioned airlines, aircraft-maintenance companies and manufacturers that the sensors are vulnerable to damage and must be carefully maintained.

"It is ...Read more

Boeing will hire hundreds of temporary employees as it prepares for 737 Max's return to service

Business / Business News /

Boeing said Tuesday it will begin hiring a few hundred temporary employees at Moses Lake to work on the grounded 737 Max fleet and prepare the planes for return to service once regulators gives them clearance to fly again.

The company, which will provide paid housing and a meal allowance for the temporary hires, is looking for avionics ...Read more

Facebook will use journalists to curate news, opening itself to more bias allegations

Business / Business News /

Mark Zuckerberg is a consistent guy. For years, he has worn the same gray T-shirts, idolized the same Roman emperor and repeated the same denials that Facebook Inc. has any desire to become a media company.

But after a punishing few years for his company's public image, Zuckerberg has softened that stance, green-lighting development of a new ...Read more

Qualcomm ends patent licensing spat with LG, signs five-year deal

Business / Business News /

Qualcomm has inked a new patent licensing deal with South Korean electronics giant LG on terms consistent with other Qualcomm patent agreements globally.

The five-year license covers 3G, 4G and 5G smartphones and other complete devices, according to Qualcomm. The San Diego company did not reveal further details on Tuesday, including the royalty...Read more

Ransomware is everywhere — even in this sleepy Texas town

Business / Business News /

KEENE, Texas -- When a ransomware attack hit Keene, Texas, no one noticed.

Like many small Texas cities, Keene -- an exurb about 40 miles south of Fort Worth with a population of about 6,500 -- contracted its technology services to an out-of-town company, including management of its computer servers. The city had never been hit with something ...Read more

Can this co-living experiment make housing affordable for middle-class seniors?

Business / Business News /

NEW HOLLAND, Pa. -- Deep in the rolling farmland of Lancaster County, Pa., sits an experiment meant to address two of the great, looming crises of American aging: loneliness and access to safe, affordable senior housing.

The Thistledown Co-living House, built in New Holland a little over a year ago with the help of community volunteers, is a ...Read more

 

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