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Target teams up with Diane von Furstenberg for its next limited-time collection

Business / Business News /

Diane von Furstenberg is bringing her signature wrap dresses — and much more — to Target this spring.

The Minneapolis-based retailer announced Tuesday its next limited-time design collaboration will be with the legendary designer. The special collection made for Target, and at Target-like price points, will include more than 200 pieces ...Read more

Glen Stubbe/Minneapolis Star Tribune/TNS

Medtronic reneges on spinoffs, decides to retain all but ventilator business

Business / Business News /

Medtronic reversed course on spinning off several of its businesses, instead deciding to retain the bulk of the patient monitoring and respiratory interventions sectors it had initially announced plans to offload in October 2022.

Geoff Martha, CEO of Medtronic, said Tuesday the company made the decision after a "comprehensive review," when it ...Read more

Ryan Garza/Detroit Free Press/TNS

Ford cuts pricing on 2023 Mustang Mach-E

Business / Business News /

Ford Motor Co. on Tuesday said it was cutting thousands of dollars off the price of its all-electric 2023 Mustang Mach-E SUV after the vehicle lost eligibility for the federal government's tax credit.

The Dearborn automaker cut the starting price by $3,100 to $39,895 for the Select rear-wheel drive model. The top-of-the-line GT performance ...Read more

Miguel Martinez/The Atlanta Journal-Constitution/TNS

Investor group seeks to replace Norfolk Southern CEO, management team

Business / Business News /

An activist investor group has launched an effort to replace management of Atlanta-based Norfolk Southern, nominating a slate of potential board members and proposing that a former UPS executive take over as CEO of the railroad.

Ancora Holdings Group, an Ohio-based investment firm, proposed in a presentation to investors that former UPS Chief ...Read more

Different kind of union campaign targets Waffle House

Business / Business News /

It looks and feels like a long-odds, union organizing drive.

Workers, coordinated by a union, are holding rallies, signing petitions and making demands for higher wages, better safety and improved work conditions at the nearly 2,000 locations operated by Norcross-based Waffle House across dozens of states in the South and Midwest.

But no one ...Read more

Steven M. Falk/The Philadelphia Inquirer/TNS

Truckers are raising alarms about 'unfair competition' subsidized by taxpayers at Philly's port

Business / Business News /

The Port of Philadelphia has been booming in recent years. Cargo units have almost doubled since 2016, as the deepening of the Delaware River and public investment have enabled the port to accommodate bigger ships that carry containers full of fruits and meats from such countries as Chile and Australia.

The port — long known as a top market ...Read more

David Fickling: Detroit makes the same mistake on EVs it did with Japan

Business / Business News /

Once upon a time, Japanese cars were seen as an exotic and quirky product that could never take on the might of Ford Motor Co. and General Motors Co. Right now, Chinese EVs are in a similar place.

“Corolla, New Economy Car, Is Shown Here by Toyota,” the New York Times yawned in a 1968 headline, introducing history’s best-selling ...Read more

Everything you need to know about Capital One's $35 billion takeover of Discover Financial

Business / Business News /

Capital One Financial Corp., the U.S. lender backed by Warren Buffett, is set to buy Discover Financial Services in a $35 billion deal that will bring together two of the biggest credit card firms and allow them to compete with other Wall Street behemoths.

Here’s all you need to know about Capital One’s acquisition and what it could mean ...Read more

The big miss on electric cars is remaking Europe's auto industry

Business / Business News /

Volkswagen, Renault and Stellantis are thinking the unthinkable, exploring tie-ups with sworn competitors to make cheaper electric vehicles and fend off existential threats.

As Chinese rivals and Tesla Inc. expose competitive weaknesses at Europe’s biggest mass-market carmakers, it’s become clear that a sense of urgency is growing and a ...Read more

Aric Crabb/Bay Area News Group/TNS

Nearly all Caltrans under-freeway lease spaces in Bay Area failed fire inspections

Business / Business News /

An alarming number of storage sites under Bay Area freeway underpasses failed state fire marshal inspections spurred by last year’s devastating blaze that shut down Interstate 10 in Los Angeles, according to new Caltrans reports that raise questions about the risks of leasing space under California’s highways.

Inspectors found combustible ...Read more

Capital One to buy Discover Financial in $35 billion stock deal

Business / Business News /

Capital One Financial Corp. agreed to buy credit-card lender Discover Financial Services in a $35 billion all-stock deal to create the largest U.S. credit card company by loan volume.

McLean, Virginia-based Capital One will pay 1.0192 of its own shares for each Discover share, a 26.6% premium to the closing price on Feb. 16, the firm said in a...Read more

Dreamstime/Dreamstime/TNS

Apple set to face near €500 million EU fine in Spotify row

Business / Business News /

Apple Inc. will face a European Union fine close to €500 million ($539 million) over the regulator’s investigation into allegations it silenced music-streaming rivals, including Spotify Technology SA, on its platforms.

The penalty — Apple’s first ever from the bloc — will be set after the EU watchdog found that it fell foul of ...Read more

Capital One weighs acquisition of Discover Financial

Business / Business News /

Capital One Financial Corp. is exploring a potential acquisition of credit-card lender Discover Financial Services that would rank as one of the largest deals globally so far this year, people with knowledge of the matter said.

McLean, Virginia-based Capital One is working with advisers and has been holding talks with Discover about a deal, ...Read more

Rocket Lab/NASA/ZUMA Press Wire Service/TNS

Rocket Lab's latest launch sends space junk inspector to orbit

Business / Business News /

While SpaceX has continued its breakneck pace of launching from the Space Coast and California, small rocket company Rocket Lab continues to solidify its role as the second busiest launch service provider, knocking out its second mission of the year, the latest sending a commercial satellite into orbit to inspect a piece of space junk.

Dubbed �...Read more

Kostas Lymperopoulos/CSM via ZUMA Wire/TNS

Trump-supporting truckers threaten to boycott NYC after court rulings against him

Business / Business News /

MAGA truck drivers are threatening to boycott New York City in support of former president Donald Trump, whose hometown’s courts have ruled him liable for a history of fraud and sexual abuse.

Chatter about shutting down supplies to the nation’s biggest city began Friday when trucker and influencer Chicago Ray posted an angry rant on X in ...Read more

Cargill invests in fungi-based mycoprotein company that makes meat alternatives

Business / Business News /

Cargill is pouring more money into alternative proteins.

Just don't call this one plant-based.

The Minnesota-based agribusiness recently invested an undisclosed sum into Enough, a Scottish company rapidly expanding the use of fungi and fermentation to create meat-like mycoproteins (the "myco" comes from mycology, the study of mushrooms and ...Read more

Genaro Molina/Los Angeles Times/TNS

LA law aims to make retail workers' schedules more predictable. Is it working?

Business / Business News /

LOS ANGELES — A year ago, Angelica Belmont's life felt chaotic.

She often got called in to cover afternoon shifts at a Los Angeles CVS with just a few hours' notice. She frequently had to close the store at 10 p.m. and open at 6 a.m. the next day.

Her irregular work schedule interfered with her sleep and often left her scrambling to find ...Read more

Dania Maxwell/Los Angeles Times/TNS

Stanley faces more lawsuits over lead in products

Business / Business News /

The Seattle-based parent company behind the viral Stanley tumbler faces more lawsuits accusing it of intentionally misleading consumers about the presence of lead in its products.

Two separate lawsuits filed last week accuse Stanley, which was acquired by Seattle-based PMI Worldwide in 2002, of deceiving customers and failing to disclose the ...Read more

Dan Kitwood/Getty Images Europe/TNS

Bitcoin's streak of weekly gains puts record high in sight if history right

Business / Business News /

A year ago the crypto market was on its knees and the notion that Bitcoin might retest a record high of nearly $69,000 was almost risible. Fast forward 12 months and some studies now point to just that possibility.

Technical analysis comparing the largest digital asset’s rally to $52,000 with past surges spits out projections of more gains in...Read more

Aric Crabb/Bay Area News Group/TNS

Bay Area tech layoffs finally start to weigh down region's job market

Business / Business News /

Two years of wrenching tech layoffs have weighed down the Bay Area’s job market in a big way — but experts say the impact has been somewhat mitigated by an industry realignment that’s led to significant hiring even as thousands of positions have been cut.

For decades, Silicon Valley has engaged in what tech insiders and sages call “...Read more