Business

/

ArcaMax

Travel 700 mph in a vacuum tube? Hyperloop promises a 30-minute trip from Chicago to Cleveland, but multiple challenges ahead

Business / Business News /

CHICAGO -- Suppose you want to go to Cleveland from Chicago -- how fast can you get there?

A car ride takes around five hours. A plane takes an hour and 20 minutes, not counting waiting time in the airport.

Hyperloop technology, which involves a system composed of a vacuum and magnets to propel vehicle pods through a tube, could theoretically ...Read more

Change-of-address scam moved UPS corporate headquarters to tiny Chicago apartment, feds say

Business / Business News /

CHICAGO -- The timeworn apartment building in Chicago's Rogers Park neighborhood hardly looks like the corporate headquarters of one of the world's largest shipping companies.

But for a few recent months, that's essentially what it became -- at least as far as the U.S. Postal Service was concerned.

Federal court papers unsealed last week ...Read more

Sixt, which came to the U.S. in 2011, is already the nation's No. 4 car-rental company

Business / Business News /

Sixt Rent-a-car is the second-biggest car rental company in Europe but entered the U.S. market only in 2011.

But the German multinational rental company has grown so fast that it is now the fourth-largest car rental company in the U.S. Its fleets include high-end American cars, and Mercedeses and BMWs.

Sixt operates 52 outlets around the ...Read more

Mogul shifts to Toys R Us in US

Business / Business News /

LOS ANGELES -- Los Angeles toy mogul Isaac Larian is abandoning efforts to buy the Canadian stores of Toys R Us and instead plans to sweeten his rejected bid for more than 200 U.S. outlets of the bankrupt retailer.

The Bratz doll maker told the Los Angeles Times on Sunday that he is satisfied that the 82 Canadian stores could be operated by ...Read more

'I Feel Pretty' exceeds expectations, and 'A Quiet Place' is back on top

Business / Business News /

LOS ANGELES -- "A Quiet Place" has hardly been a silent success. With an additional $22 million in ticket sales over the weekend, the horror film directed by John Krasinski has snatched the No. 1 spot once again in its third week of release. Meanwhile, the STX comedy "I Feel Pretty" starring Amy Schumer performed slightly better than expected ...Read more

Tyson, the largest meat processor in the U.S., invests in fake meat

Business / Business News /

Beyond Meat burgers -- plant-based patties made to resemble, sizzle and even bleed like meat -- have the potential to wean wavering carnivores from animal-based proteins.

Encouraging such a trend would seem to pose a serious financial threat to Tyson Foods, the largest U.S. meat processor.

Except Tyson has a stake in Beyond Meat and could ...Read more

The Journey: Families and money can be a troublesome combination

Business / Business News /

When it comes to money and family, is there ever a "right" answer?

A widow with a toddler child recently confided that her late husband's family contacted her right before this month's tax-filing deadline.

In a confusing phone call, the relative told her the family wanted to include her son's Social Security survivor benefits in a tax return ...Read more

Trump's EPA argues that more people will die in car accidents unless California fuel rules are weakened

Business / Business News /

WASHINGTON -- The Trump administration is embracing a curious -- and some would say dated -- argument as it builds its case to weaken federal rules championed by California that require cars and SUVs to average 55 miles per gallon by 2025.

It is warning that the fuel-efficiency targets, seen by most as key to meeting climate and air quality ...Read more

Kim shifts focus to economy as North Korea ditches nuclear tests

Business / Business News /

SEOUL, South Korea –– Kim Jong Un's suspension of North Korean nuclear tests has strings attached.

The leader's statement at a ruling party meeting Friday includes a pledge to seek a "favorable" international environment for economic development so that he can put the economy "on an upward spiral track."

That builds on his 2012 vow to ...Read more

UAW wins representation election among Harvard graduate students

Business / Business News /

After a high-profile battle at one of the nation's most prestigious universities, Harvard student workers have elected to join the United Auto Workers with 56 percent in favor of organizing.

The National Labor Relations Board reported a vote of 1,931-1,523 in favor of joining the Harvard Graduate Students Union-United Auto Workers, ending a ...Read more

Artificial intelligence will wipe out half the banking jobs in a decade, experts say

Business / Business News /

Advances in artificial intelligence and automation could replace as many as half the nation's financial services workers over the next decade, industry experts say, but it's going to take a big investment to make that happen.

James D'Arezzo, CEO of Glendale, Calif.-based Condusiv Technologies, says that's where things are headed. And the ...Read more

Seattle-area tech companies chip away at bias against women

Business / Business News /

Bridget Frey was the only woman on Redfin's engineering team in Seattle when she joined the online real-estate company more than six years ago. She wasn't surprised, having worked in the male-dominated tech field for much of her career.

But Frey was determined it would be a short-lived imbalance.

One of the reasons the tech field is so heavily...Read more

Incoming UAW president was aboard $1,600 bus ride cited in scandal

Business / Business News /

DETROIT -- Gary Jones, the presumptive incoming United Auto Workers and a longtime union accountant, was witness -- the union says unwittingly -- to some of the spending during 2015 conventions in California that has drawn federal prosecutors' attention.

Jones was among several passengers on a $1,600 ride from a transportation company that was ...Read more

Susan Tompor: Becoming a 401(k) millionaire

Business / Business News /

Steve Horaney has two kids in college, a home in South Lyon, Mich., and every other excuse people can roll out for not saving for retirement.

Except he's still one of the country's 401(k) millionaires.

Horaney, 50, says he's learned to sock away money with every paycheck going back to his early 20s when he started a good job at Guardian ...Read more

Low-key Meruelo sees LA Latinos as key part of his highest-profile bet: a Las Vegas casino

Business / Business News /

Three decades ago, a 23-year-old kid from Whittier, Calif., the son of Cuban immigrants, had an idea for a new kind of pizzeria -- one that would serve predominantly Latino neighborhoods and offer then-uncommon toppings like chorizo and jalapenos.

He took over a failed pizza joint in Huntington Park, called it La Pizza Loca and, within five ...Read more

Consumer Confidential: The insanity of covering a $50,000 knee operation but not a relatively cheap injection

Business / Business News /

Why give someone with bum knees a once-a-year injection costing as little as a few hundred bucks when you can instead make them undergo complicated knee-replacement surgery costing tens of thousands of dollars?

That, in a nutshell, is one reason the U.S. health care system is the most expensive in the world.

It's also where Hollywood resident ...Read more

Federal officials widen warning about E. coli contamination of romaine lettuce

Business / Business News /

Federal health officials have extended their health warning for romaine lettuce grown in the Yuma, Ariz., region. Consumers now are advised to avoid all forms of the lettuce.

Previous warnings highlighted chopped, packaged romaine and salad mixes containing the variety.

The expansion came after prisoners in Alaska fell ill after eating lettuce...Read more

U.S. reportedly raises objections to state-run Chinese company taking control of Long Beach port terminal

Business / Business News /

U.S. regulators are reportedly raising objections that Cosco Shipping, a state-run Chinese company, could take control of a container terminal at the Port of Long Beach, Calif., as part of its $6.3 billion acquisition of another company.

The concerns were raised by the Committee on Foreign Investment in the United States, according to a report ...Read more

Google launches Chat to compete with Apple's iMessage

Business / Business News /

Google is launching a new text messaging system for its Android platform to challenge Apple's iMessage in smartphone text messaging supremacy.

With Chat, Google is updating its current Short Messaging Service-run Android Messages app so that it can send and receive high-definition images and videos, set up group texts and allow reading receipts...Read more

Tesla gets an 'F' from the Better Business Bureau

Business / Business News /

Tesla may get an "A" grade for the look of its cars, and the experience of driving one of its vehicles. And when it comes to drumming up publicity, CEO Elon Musk's grades have to be at the top of the class:

But Tesla gets an "F" from the Better Business Bureau, which says Tesla responds poorly to customer complaints.

"They're a fine company, ...Read more