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Carline Jean/South Florida Sun Sentinel/TNS

Repair contractors' newest billing strategy leaves homeowners on the hook if insurers don't pay

Business / Business News /

Imagine receiving an unexpected $7,500 invoice telling you that your payment is more than 30 days past due and that you’re responsible for it if your homeowner’s insurance doesn’t cover it.

That’s the scare that Carla Axelrod experienced after her water heater sprang a leak in September. Insurance experts in Florida are warning that it�...Read more

Steve Ringman/The Seattle Times/TNS

As ketamine clinics emerge to treat mental illness, so does debate about safety and regulations

Business / Business News /

SEATTLE — In a spalike clinic overlooking Lake Union with moss walls and floor pillows, Bridget Carnahan treats patients for mental illness with blindfolds, noise-canceling headphones, talk therapy, and a psychoactive drug called ketamine.

Carnahan is the director at a Westlake clinic opened last month by Field Trip Health, a Nasdaq-listed ...Read more

Clarence Tabb Jr./The Detroit News/TNS

'Least bad deal'? Holiday auto promotions may still leave you paying above MSRP

Business / Business News /

If Santa needs a new hot rod, it might be a costly Christmas this year as new and used vehicle prices hit record highs.

Car shoppers shouldn't expect to see the same lot-clearing discounts they normally would before the end of the year. A global microchip shortage has left dealerships bare, forcing some buyers to wait weeks or months for an ...Read more

Jose F. Moreno/The Philadelphia Inquirer/TNS

A workforce program delivers more recruits to Philly Shipyard

Business / Business News /

PHILADELPHIA — Ever since he got his first set of Legos, Muhammad Tumaini has loved construction. He took welding classes at Benjamin Franklin High School. And when he visited the Navy Yard complex with a mentor, seeing a ship in dry dock at Philly Shipyard gave him a sense of belonging.

"I knew this is where I wanted to be," Tumaini, 20, ...Read more

Paul Morigi/Fortune/Time Inc./TNS/TNS

Raimondo: US at 'inflection point' of semiconductor chip shortage

Business / Business News /

"Here's the reality: We can't wait, because the rest of the world isn't waiting," she said. "China, Taiwan, the EU, other countries all around the world, they are not waiting. They are incentivizing and subsidizing the production of chips right now and have been for a long time."

The visit by Raimondo, a former governor of Rhode Island and a ...Read more

Elijah Nouvelage/Getty Images North America/TNS

Labor board orders a new Amazon union election in Alabama

Business / Business News /

The National Labor Relations Board ordered a new union election at an Amazon facility in Alabama after reviewing allegations that the e-commerce giant had engaged in illegal conduct during the high-profile campaign, which the union lost.

NLRB spokesperson Kayla Blado said Monday that a regional director of the labor board ordered a new election...Read more

DIMITRI KORCZAK/AFP/Getty Images North America/TNS

Delta to continue Atlanta-Johannesburg flights amid restrictions

Business / Business News /

Delta Air Lines is continuing its Atlanta-Johannesburg flights, even though the U.S. has imposed new restrictions on travel from southern African countries because of concerns about a new COVID-19 variant.

Atlanta-based Delta operates three flights a week between Hartsfield-Jackson International Airport and Johannesburg. The airline resumed the...Read more

Marco Bello/AFP/Getty Images North America/TNS

Jack Dorsey steps down as Twitter CEO, replaced by CTO Parag Agrawal

Business / Business News /

Jack Dorsey is stepping down as chief executive officer of Twitter Inc., handing over control of the microblogging site he founded and helped build into a global communications platform that, despite being widely used, has struggled to keep up with its social media peers.

Chief Technology Officer Parag Agrawal, who joined Twitter in 2011, was ...Read more

Glen Stubbe/Minneapolis Star Tribune/TNS

With staggering growth behind it, Target's Shipt delivery business faces a now-what moment

Business / Business News /

After a year of intense growth, Target Corp.'s grocery-delivery business, Shipt, is starting to level off and its pool of competitors keeps expanding.

More shoppers embraced the convenience — and safety, from a health standpoint — of grocery delivery as the pandemic unfolded. But as in-person shopping returned, delivery specialists like ...Read more

Justin Sullivan/Getty Images North America/TNS

Elizabeth Holmes trial: Theranos president Balwani forced sex on Holmes, she testifies

Business / Business News /

Theranos founder Elizabeth Holmes on Monday testified tearfully that former company president Sunny Balwani, her romantic partner for more than a decade, forced sex on her when she displeased him.

“He would get very angry with me and then he would sometimes come upstairs to our bedroom and he would force me to have sex with him when I didn’...Read more

Paul Morigi/Fortune/Time Inc./TNS/TNS

Raimondo: US at 'inflection point' of semiconductor chip shortage

Business / Business News /

WASHINGTON — Commerce Secretary Gina Raimondo says it's time to get "serious" about reviving semiconductor chip production in the United States as the global auto industry pivots to electric vehicles.

Raimondo will urge Congress to pass $52 billion in funding to boost domestic production of the crucial component and tout the administration's ...Read more

Trevor Fraser/Orlando Sentinel/TNS

In Orlando, Hispanic residents spend more on rent than anywhere in the country

Business / Business News /

Estafany Londoño considers herself one of the lucky ones. At the height of the pandemic, the 24-year-old had to find a new place to live.

“A lot of the places I was looking at were small apartments for so much money,” said Londoño, an educator with a Master’s degree in sociology.

Hispanic residents in metro Orlando pay a higher ...Read more

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Allstate reaches agreement to sell Northbrook campus for $232 million to Nevada-based industrial developer

Business / Business News /

Insurance giant Allstate has reached an agreement to sell its longtime Northbrook, Illinois, headquarters for $232 million, the company announced Monday.

The sale to Dermody Properties, a Nevada-based industrial developer that specializes in e-commerce and logistics sites, encompasses the majority of the sprawling campus along I-294 in an ...Read more

Jack Dorsey steps down as Twitter CEO, replaced by CTO Parag Agrawal

Business / Business News /

Jack Dorsey, the co-founder and chief executive officer of Twitter Inc., is stepping down from the helm of the social network, ceding the position to Chief Technology Officer Parag Agrawal.

Dorsey will stay on the board of the San Francisco-based company until his term expires in 2022, Twitter said in a statement Monday. Agrawal, who became CTO...Read more

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Markets face weeks of uncertainty in wait for omicron answers

Business / Business News /

The fate of global markets now depends at least in part on laboratories around the world probing the omicron COVID-19 strain, potentially leaving investors with weeks of uncertainty in the wait for answers.

The variant detected in Africa is described as highly concerning, and has already led to international travel bans. Scientists are ...Read more

Ford Motor Co./Detroit Free Press/TNS

High gas prices are hitting heavy-duty pickup owners hard. Here's what they're saying

Business / Business News /

LOS ANGELES — That silver Dodge Ram Warlock with the 5.7-liter V-8 Hemi engine must have looked pretty sweet when gasoline prices hovered around $4 a gallon. Now, with gasoline topping $6 a gallon at some Los Angeles-area stations, a bit of sour’s been added to the mix.

Record-high gasoline and diesel prices are combusting driver budgets ...Read more

Dan Kitwood/Getty Images Europe/Getty Images

Bitcoin offers no refuge from COVID-19 market rout

Business / Business News /

On a day when investors needed a place to hide, one alternative area of the market wasn’t providing any refuge: Bitcoin.

The world’s largest cryptocurrency had its worst day in more than two months, slumping almost 8% to about $54,350 as of Friday afternoon amid a rout in world stock markets on the emergence of a potentially dangerous ...Read more

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Econometer: Do American shoppers need to learn to be more like Europeans?

Business / Business News /

Supply chain issues are disrupting retailers and restaurants, but a recent Bloomberg Opinion piece argues that Americans need to act more like Europeans who traditionally buy less.

Allison Schrager, a Bloomberg opinion columnist, writes that household consumption by Americans grew about 65 percent from 1990 to 2015, compared to 35 percent in ...Read more

Howard Lipin/San Diego Union-Tribune/TNS

Black Friday starts out slow as shoppers brave COVID risks, order backlogs

Business / Business News /

LOS ANGELES — Ashton Caudillo headed out with his father early Friday morning to the Westfield Santa Anita in Arcadia looking for a hard-to-find PlayStation 5 well before the mall’s 7 a.m. opening. What they found surprised them: only a handful of other shoppers.

The 20-year-old’s father, Lawrence, has a distinct memory of Black Fridays ...Read more

Justin Sullivan/Getty Images North America/TNS

Elizabeth Holmes trial: Holmes signals intent to blame ex-lover Balwani for alleged Theranos fraud

Business / Business News /

SAN JOSE, California — In a strong signal that Theranos founder Elizabeth Holmes will seek to blame her co-accused and ex-lover Sunny Balwani for alleged fraud at her failed startup Theranos, the defense team has asked the judge in her trial to let them put statements previously made by Balwani before the jury.

In a motion filed this week, ...Read more