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S&P 500 closes quarter at lowest in two years: Markets wrap

Business / Business News /

U.S. stocks suffered their worst monthly rout since March 2020 after markets were repeatedly pummeled by the Federal Reserve’s resolve to keep raising interest rates until inflation is under control.

The S&P 500 closed a volatile session lower. The index posted its third straight quarter of losses for the first time since 2009. U.S. ...Read more

John J. Kim/Chicago Tribune/TNS

Michael Hiltzik: Did the pandemic finally give working Americans power over their employers? Not really

Business / Business News /

Labor advocates have been feeling their oats lately, what with a surge of successful union organizing drives at Starbucks stores, the hint of union interest at Amazon warehouses, higher minimum wage standards in cities and states across the country, and a nudge up of average wages across the board.

These trends have inspired some to proclaim ...Read more

Native Americans' decadeslong struggle for control over sacred lands is making progress

Business / Business News /

Who should manage public land that is sacred to Native Americans?

That is the question that the United States government and some states hope recent policy changes will address by giving Indigenous people greater input into managing such land. Co-management, as the policy is called, might alleviate the friction that emerges when ...Read more

GM DESIGN/Chevrolet/TNS

GM EV1: A revolutionary antique that's still the car of the future

Business / Business News /

It cost as much as a Mercedes, could only travel 79 miles, and was both the hero and villain of Hollywood. Only 10 years after it rolled into driveways, almost all were crushed. One remains operational … and its parked at The Smithsonian. A qualified antique, it’s still the car of the future.

On Earth Day in 1990, General Motors Chairman ...Read more

Carolina Cabral/TNS/TNS

Legal battle over Miami bank allegedly controlled by Venezuela intensifies

Business / Business News /

The legal battle over the control of a Miami bank alleged to have been secretly run by the Venezuelan government is heating up, following the efforts of its original owner to take back the reins of the bank’s Curaçao-based parent company.

The original owner, Venezuelan-American businessman Juan Santaella, had previously sued members of ...Read more

Pool/Getty Images/New York Daily News/TNS

Ten things Elon Musk's texts reveal about the Twitter deal

Business / Business News /

A new trove of text messages between Elon Musk and Twitter Inc. executives, close friends, potential investors and Silicon Valley bros sheds light on how a $44 billion deal by the world’s richest person to buy the social media company came about — and ended up in court.

The texts show who wanted to be part of the buyout and reveal the ...Read more

Work-from-home or return to the office? A rift is emerging among US workers

Business / Business News /

Tensions are brewing at work between employees who have returned to the office and those who’ve continued to work from home, according to a survey of U.S. workers.

Almost three-quarters of respondents said companies should pay in-office employees more than their work-from-home colleagues, and two-thirds are concerned that managers view full-...Read more

Allen J. Schaben/Los Angeles Times/TNS

A $50,000 electric bill? The cost of cooling LA's biggest houses in a heat wave

Business / Business News /

Cooling off a 1,500-square-foot bungalow in a heat wave is expensive enough. But how big are the bills for the ever-larger mega-mansions crowning our hills?

Granted, those who can afford a $50-million home likely aren't sweating a bloated electric bill, nor perhaps the carbon footprint, but experts say the cost of keeping a mansion cool can run...Read more

Cadillac/Cadillac/TNS

Auto review: 2023 Cadillac Escalade-V is a fun, fast, luxurious rig

Business / Business News /

This is not a vehicle that goes quietly into the night, but would you expect that of the 2023 Cadillac Escalade-V? This is the high-performance rendition of Cadillac’s biggest beats, its inner demon writ large as a full-size, full-on luxury, high-performance, body-on-frame SUV.

In another era, this would have been an Eldorado powered by an 8....Read more

Trump properties aren't the only ones to see wild valuations – putting a price on real estate isn't straightforward

Business / Business News /

On the lower tip of Manhattan there is a prime piece of real estate, the price of which is somewhat up for debate.

To the owners, the Trump Organization, 40 Wall Street is worth an eye-watering US$735 million, or at least it was in 2015. Others disagree, pointing to an appraisal that year by a real estate firm that priced it at $540 ...Read more

DREW PHILLIPS/TNS

Auto review: Hot hatch Hyundai Kona N-line is more show than go

Business / Business News /

BMW makes an M-azing, M-asterful M3 sports sedan with gobs of horsepower, tires made from Superglue and a taut suspension. It’ll also cost you an M-azing 80 grand. For those who don’t need the full magilla, there’s the BMW M-line which offers M3-like style but without the nuclear power plant under the hood. M style without the M-egaprice. ...Read more

Paul Brady/Dreamstime/TNS

The Week Ahead: Looking for signs of softening

Business / Business News /

The Federal Reserve building in Washington, D.C. is encased in rock. It’s Creole marble from Georgia. The stone is considered relatively soft, which makes it easier to cut. The marble strikes a majestic image of stability and resoluteness just blocks from the Potomac River.

The central bank’s fortitude will be tested in the months ahead. ...Read more

Grocery prices prompt 'trading down' to cheaper alternatives, more awareness of food waste

Business / Business News /

More grocery shoppers are turning to store brands and frozen food as inflation forces cost-cutting and a drive to reduce personal food waste, recent surveys show.

A new Deloitte poll found more than a third of shoppers — and nearly half of rural consumers — are regularly "trading down" from name brands to less expensive private label ...Read more

Health plan shake-up could disrupt coverage for low-income Californians

Business / Business News /

Almost 2 million of California’s poorest and most medically fragile residents may have to switch health insurers as a result of a new strategy by the state to improve care in its Medicaid program.

A first-ever statewide contracting competition to participate in the program, known as Medi-Cal, required commercial managed-care plans to rebid ...Read more

UN slavery estimate raises question: Are 50 million people really enslaved today?

Business / Business News /

According to the United Nations, about 50 million people are enslaved worldwide.

The report, released Sept. 12, 2022, by the U.N.‘s International Labor Organization, the International Organization for Migration and the human rights group the Walk Free Foundation, revealed that 28 million people are in forced labor and another 22 ...Read more

Amazon/Amazon/TNS

From sleep habits to pets, Amazon devices are learning more. Much more

Business / Business News /

Amazon is using tech to get even closer to its customers.

It introduced a new sleep tracker, Halo Rise, that learns breathing patterns and senses room conditions to help users optimize sleep. Astro, its home robot, will soon be able to recognize doors, windows, pets and furniture in a user's home.

A new iteration of Blink, its home-security ...Read more

New California law will require job postings to include salary ranges

Business / Business News /

Companies with 15 or more employees in California will be required to list salary ranges for all job postings under a law signed by Gov. Gavin Newsom this week.

Senate Bill 1162 is set to take effect in May 2023, bringing California in line with states such as Washington, Colorado and Connecticut that have passed similar wage transparency laws ...Read more

You can keep getting free weekly credit reports -- at least through 2023

Business / Business News /

Citing the impact of decades-high inflation on consumers' wallets, the nation's biggest credit reporting agencies — Experian, Equifax and TransUnion — agreed to continue to offer free weekly credit reports through the end of next year.

Under federal law, consumers are entitled to one free credit report annually from each of the bureaus. But...Read more

Builder of quantum computers opens research and development facility in Boulder

Business / Business News /

Atom Computing, a California-based startup that builds quantum computers, opened its largest research and development facility in Boulder on Wednesday.

The new location marks a win for Colorado’s growing quantum industry, which is centered around the Denver-Boulder area. Other players in the market include Boulder-based ColdQuanta, Quantum ...Read more

GM partners with Silicon Valley company on battery tech

Business / Business News /

General Motors Co. and Palo Alto-based OneD Battery Sciences have entered a joint research development agreement for the potential use of OneD's silicon nanotechnology in GM's battery cells to increase energy density for longer range at a lower cost.

GM Ventures participated in OneD's Series C funding round, which the company recently closed at...Read more