PG&E gets court OK for $235 million in bonuses amid wildfire woes, bankruptcy

Business / Business News /

PG&E will be able to grant $235 million in bonuses to roughly 10,000 employees, a bankruptcy judge ruled Tuesday, a decision that was issued despite PG&E's wildfire-linked woes and the disgraced company's proposal to impose a big increase in monthly utility bills on its customers.

The bonus packages, part of PG&E's short-term incentive program,...Read more

Qualcomm's shares remain red hot a week after Apple settlement

Business / Business News /

Qualcomm's stock continued to rally following its surprise settlement with Apple last week, gaining nearly 6 percent in trading on Tuesday.

The San Diego cellular technology supplier got a boost from a price upgrade from Morgan Stanley analyst James Faucette, who raised his price target for the shares to $95.

That's higher than many other ...Read more

Linked to deaths, surgical staplers get closer look from FDA

Business / Business News /

Surgical staplers, including those made by Minnesota-run Medtronic PLC, have been associated with such high numbers of deaths, injuries and malfunctions that the Food and Drug Administration is considering moving them to a higher-risk category that would give the regulator more control over the commonly used devices.

"As part of our public ...Read more

Waymo plans final assembly on self-driving cars in Detroit

Business / Business News /

DETROIT -- Waymo has picked Detroit for final assembly of its self-driving vehicles.

The company, once known as Google's self-driving car project and now a leader in the push to develop autonomous vehicles, had previously said it was scouting locations in southeast Michigan but did not name a specific city.

CEO John Krafcik revealed Detroit as...Read more

Kohl's to accept Amazon returns at all stores starting in July

Business / Business News /

Kohl's department stores, which have had an agreement with online retail juggernaut Amazon since 2017, announced Tuesday that it will accept Amazon-purchased returns at all stores nationwide starting in July.

"This unique partnership combines Kohl's strong nationwide store footprint and omnichannel capabilities with Amazon's reach and customer ...Read more

CBS extends acting CEO Joseph Ianniello's tenure through December

Business / Business News /

CBS Corp. has suspended its search for a chief executive and extended acting Chief Executive Joseph Ianniello's contract through the end of the year as the company weighs whether to merge with Viacom Inc. or plot its own course.

CBS had planned to hire a new chief executive by the end of March, but the search was complicated by thorny questions...Read more

Northern Oil and Gas scoops up more North Dakota oil properties

Business / Business News /

Northern Oil and Gas has agreed to purchase a portfolio of North Dakota oil properties for $295 million plus stock, its largest deal yet.

The Minnetonka, Minn.-based company said it would buy approximately 18,000 net acres containing 86.9 net producing oil wells; 2.7 wells in process; and 47.5 undrilled locations in the core of North Dakota's ...Read more

Here's what we know about Elon Musk's proposed high-speed 'Loop' between Baltimore and D.C.

Business / Business News /

BALTIMORE -- Billionaire tech entrepreneur Elon Musk's initial proposal for a high-speed, 35-mile "Loop" tunnel between Baltimore and Washington took a step forward in the process toward government approval with the release of a environmental assessment by federal regulators.

But the "Loop" in the draft environmental impact statement released ...Read more

Why Trump's tariffs are one of the last big obstacles in U.S.-China trade talks

Business / Business News /

WASHINGTON -- The United States and China are in the final stretch of talks to resolve a conflict over American complaints about China's unfair trading and economic practices.

Senior U.S. officials say they have reached agreement on enforcement and other key elements of the dispute, raising the possibility that President Trump and Chinese ...Read more

SpaceX turned to fast-igniting fuel for its capsule escape system. That could be part of the accident probe

Business / Business News /

During the Apollo era, NASA astronauts relied on a rocket tower at the top of the capsule to pull them safely away in case of an emergency. If it wasn't used, the tower was jettisoned after the Saturn V rocket had reached about 295,000 feet.

But when SpaceX and Boeing Co. set out to build a new capsule, NASA decided to maintain the escape ...Read more

California utilities ask for bigger profits, says bills would rise $14.40 a month for the average home

Business / Business News /

California's major monopoly utilities asked regulators Monday to approve higher profits for their shareholders amid a growing risk of destructive fires. The biggest request came from Southern California Edison, where the average household customers could see an annual bill increase of more than $170.

In separate filings to the California Public...Read more

Gourmet popcorn chain alleges former employee stole secret recipes. 'Once it has been shared, there is no way to 'undo' the disclosure,' lawsuit says.

Business / Business News /

CHICAGO -- Garrett Popcorn Shops says it guards its recipes so closely that only three employees have access to the information, by verifying their identity via thumbprint.

On Monday, the company, whose formal name is Caramel Crisp, filed a federal lawsuit against one of those three people who it says was fired in early March, alleging that ...Read more

Boeing's quarterly report will give first look at financial impact of MAX crisis

Business / Business News /

Even as Boeing inches closer to a fix for its grounded 737 MAX, industry analysts say the aircraft may not fly until October, a delay that could cost the company nearly three fifths of the cash it expected to generate in 2019.

On Wednesday morning, investors and analysts will get their first look at the financial impacts of the grounding when ...Read more

Expanded Connecticut lawsuit claims Purdue Pharma fraudulently transferred money to avoid liability in opioid cases

Business / Business News /

Attorney General William Tong has expanded the state's lawsuit against Stamford opioid manufacturer Purdue Pharma, laying out new details of the company's aggressive efforts to boost sales in Connecticut while at the same time downplaying concerns about addiction.

The amended complaint also takes aim at news Purdue is considering bankruptcy as ...Read more

Liz Reyer: You are no longer expected to help out other teams. Why is that unsettling?

Business / Business News /

Q: My role at work is being revised following some reassignments and additional hiring by other teams. Assistance that I have been providing to those groups for the past couple of years will no longer be needed so I'll be able to focus more on my official position. This should be good news, but I'm feeling a lot of loss and anxiety. What should ...Read more

Sinclair Broadcast reportedly poised to buy Fox regional sports networks from Disney

Business / Business News /

Sinclair Broadcast Group is reportedly poised to buy a group of 21 Fox regional sports networks from Disney in a deal to be announced perhaps as early as this week.

Sinclair, the Hunt Valley-based broadcaster, has emerged as the front-runner in the auction for the sports networks, according to a Fox Business report.

Disney is selling the ...Read more

Consumer Confidential: Looking for new glasses? These companies are focused on disrupting the eyewear market

Business / Business News /

LOS ANGELES -- The eyewear industry, dominated by a handful of major players bent on stifling competition, is ripe for disruption.

It turns out that a number of ambitious start-ups are seeking to do just that, with California being a particularly fertile breeding ground for innovative approaches.

As part of a series of columns looking at the ...Read more

These students borrowed $35K plus for an unaccredited program that closed. Years later, their debts remain

Business / Business News /

As graduation approached and they started looking for jobs in 2010, Jacqueline Franklin, Jami Reichardt, Bridgette Collins and about 14 other women at the Sanford Brown Institute in Trevose, Pa., came to a harsh realization: Their for-profit school wasn't accredited for its ultrasound program even though they had each borrowed tens of thousands ...Read more

Elon Musk claims a million Teslas will drive themselves in a year. Safety advocates have concerns

Business / Business News /

Tesla, under pressure to show it can generate profits on its main business of making electric cars, on Monday trumpeted a custom-designed computer chip to let its vehicles drive themselves.

Even with the new chip -- which comes with all new vehicles and can be installed in older ones -- Teslas still aren't yet fully capable of driving without ...Read more

Disney heiress calls CEO Bob Iger's $65.6-million pay package 'insane'

Business / Business News /

Walt Disney Co. Chief Executive Bob Iger's compensation has a major critic who shares the founder's name.

Philanthropist and documentarian Abigail Disney, who is grandniece of Walt Disney and granddaughter of co-founder Roy O. Disney, sharply rebuked Iger's most recent pay package as "insane," both at an event last week hosted by the ...Read more

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