Surprise Weinstein Co. bidder — a former Obama official — proposes female-majority board

Business / Business News /

A former Obama administration official has submitted a bid to buy the Weinstein Co. and install a majority-female board of directors, in a surprising twist for the beleaguered film and television studio that has been trying to avoid bankruptcy.

Maria Contreras-Sweet, who ran the U.S. Small Business Administration from 2014 to 2017, sent a ...Read more

Artist hates traditional airplane travel so she created her own airline

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Artist Qinmin Liu thinks flying is a pain in the easel.

So she's created her own airline for artists that will fly only to art events -- like Art Basel in Miami Beach, its maiden destination. She's calling her art project-business Angelhaha Airline.

If the 13-second, dialog- and text-free commercial she aired on Chinese television reveals ...Read more

Too many rules and black-market rivals could stifle California's marijuana industry, experts say

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LAS VEGAS--Nearly 20,000 people, eager to profit as cannabis becomes legal in more places around the world, learned last week that tapping one of the biggest markets, California, will prove challenging because of the state's legendary regulations and huge black market.

Investors, growers, regulators and others gathered for the country's biggest...Read more

Gunmaker Remington faces default as Americans buy fewer firearms

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Remington Outdoor, the second-largest U.S. gunmaker, has had a "rapid" and "sharp" deterioration in sales and a similar drop in profit since January, and faces "continued softness in consumer demand for firearms," credit analysts at Standard & Poor's Global Ratings said in a report.

S&P as a result has cut the company's corporate credit rating ...Read more

'Justice League' brings down the hammer on 'Thor'

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LOS ANGELES -- In a superhero showdown, the combined forces of Warner Bros.' "Justice League" was enough to topple "Thor: Ragnarok" from the top spot at the box office, despite a soft opening for the DC Comics mash-up.

"Justice League" grossed an estimated $96 million in the U.S. and Canada, according to ComScore, below predictions of $110 ...Read more

Strong economy boosts Trump among otherwise skeptical Americans

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WASHINGTON -- In 2016, the U.S. economy served as a punching bag for then-candidate Donald Trump. Today, it has become a lifeline for an otherwise embattled presidency.

As president, Trump has increasingly grabbed for that line, touting low unemployment, record high stock market values and healthy economic growth rates in speeches and on ...Read more

Trump administration updates demands as NAFTA talks continue

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WASHINGTON –– President Donald Trump's top trade official has issued new objectives for renegotiating the North American Free Trade Agreement -- including some likely to irk Canada and Mexico, the U.S. recording industry and other major business interests.

There are few surprises in the goals, given recent revelations and sharp words from ...Read more

On Philanthropy: This Thanksgiving, carve more than turkey

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Soon, many of us will gather around the Thanksgiving table with family and friends -- to indulge in an abundance of delicious traditional foods and give thanks for abundant blessings and freedoms.

The upcoming winter holidays are a wonderful and highly anticipated time to connect with loved ones and indulge in a certain amount of excess -- ...Read more

Amazon Key delivery driver could knock out security camera, researchers show

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SEATTLE -- A Seattle-based group of cybersecurity researchers has demonstrated a way to knock's new security camera offline, a capability that could enable malicious delivery drivers for the online retailer's new in-home delivery service to snoop around a house undetected.

Amazon Key, which became available to customers this month, ...Read more

Silicon Valley's Chinese backers are threatened by Congress

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WASHINGTON ––In recent years, Silicon Valley startups have increasingly attracted foreign investment, much of it from China. The jolt of capital has made it easier for young companies to raise money and for U.S. investors to sell their stakes. That influx of foreign money is now under threat.

Legislation under consideration would toughen ...Read more

Tax plan's windfall for tech firms unlikely to create many jobs

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WASHINGTON -- U.S. tech giants would get a huge windfall under the Republican tax plan, but economists say the companies are more likely to reward shareholders with higher dividends and stock buybacks than directly creating jobs.

Both a plan approved by the House and a separate proposal before the Senate would lower tax rates on foreign profits...Read more

Alaska Airlines cites Trump policy change in ending service to Cuba from LA

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Alaska Airlines cited new travel restrictions imposed by the Trump administration as the main reason it plans to end service from Los Angeles to Cuba.

Alaska began its daily Los Angeles-to-Havana flights Jan. 5 and plans to fly its last plane to Cuba Jan. 22, 2018, the airline said this week.

In 2014, President Barack Obama began relaxing ...Read more

Secret motorcycle industry group looks for ways to reverse sagging sales

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Hours before the 2017 Progressive International Motorcycle Show opened its doors at the Long Beach Convention Center, a cabal of industry veterans met to discuss troubled U.S. motorcycle sales.

Organized by power sports consultant Robert Pandya, who until recently helped manage marketing and public relations for Indian Motorcycle, the group of ...Read more

Fired Google engineer James Damore says he's autistic, 'sees things differently'

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James Damore, the former Google engineer who published a screed against Google's diversity initiatives, says he isn't using autism as an excuse.

But he says being on the spectrum means he "sees things differently." And yet another interview with Damore shows he still doesn't fully understand why everyone got so upset that he attributed the lack...Read more

Latest round of NAFTA talks opens in Mexico, with few prospects for breakthroughs

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MEXICO CITY -- Mexico is signaling both flexibility and doubt about the latest demands from Washington as the fifth round of talks on the future of the North American Free Trade Agreement formally opened Friday in the Mexican capital.

The fate of NAFTA has become a kind of national fixation in Mexico, where the almost quarter-century-old trade ...Read more

More turmoil in Wells Fargo's upper ranks as lending executive is fired

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In the latest shake-up in its executive ranks, Wells Fargo said Friday that it fired the head of its consumer lending unit, effective immediately.

Franklin Codel, based in Des Moines, Iowa, was terminated for "acting in a manner that was contrary to the company's policies and expectations of its senior leaders during a communication he had with...Read more

Texas oil patch 'bloodbath' is over as jobs and rigs return

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Hiring in Texas oil and gas fields is rising sharply as the industry steadily recovers from its most recent downturn.

The number of workers exploring for oil and gas in Texas hit more than 222,000 in September, nearly 31,000 more than a year ago, according to the Texas Petroleum Index, a measure of oil and gas drilling activity. It was the 10th...Read more

Chicago Tribune leaving namesake tower by mid-2018

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CHICAGO--The Chicago Tribune will move next year, ending a 93-year run in the newspaper's namesake tower on North Michigan Avenue.

Parent company Tronc Friday confirmed that the newspaper will move to One Prudential Plaza in the second quarter of 2018. The Tribune first reported in August that Tronc was in advanced negotiations for a lease in...Read more

Florida regains jobs in recovery from Hurricane Irma

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Employment levels in Florida recovered in October, the state said Friday, after September's Hurricane Irma, which sharply reduced that month's payroll count.

"Getting a report that's very normal is a good sign. The South Florida economy is bouncing back and that's exactly what we want to see," said Mekael Teshome, Florida economist for PNC ...Read more

Study finds carbon emissions increase when land is converted into crops for ethanol

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A University of Wisconsin-Madison study shows that the shift of more than 7 million acres into cropland led to huge releases of carbon emissions into the atmosphere after a 2007 federal law mandated ethanol in gasoline.

The increased carbon emissions are equivalent to 20 million new cars driving down American roads every year, according to the ...Read more