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Insurance Institute: Advanced driving assistance systems don't equal self-driving tech

Business / Business News /

Having an advanced driver assistance system in your car, where cameras and sensors allow it to offer things like adaptive cruise control or lane centering, doesn't mean you have a self-driving vehicle.

Drivers still need to be alert and paying attention to what's up ahead.

But some manufacturers have oversold how much their systems can do, ...Read more

Scott Downs/Dreamstime/TNS

As road deaths skyrocket, Michigan, other states should boost safety laws, group says

Business / Business News /

Michigan could do more to make its roadways safer for all users, according to a new report from a national safety group.

With 985 fatalities in 2019 and motor vehicle crashes costing an estimated $11.5 billion annually, not to mention the attendant misery, the Great Lakes State should do a better job of focusing on road safety, according to ...Read more

Kimberly P. Mitchell/Detroit Free Press/TNS

Sticker shock is a real thing for car shoppers right now: Here's why

Business / Business News /

The price to buy a new or used car is increasing at a faster rate than the average wage growth in the nation, a study said.

On Thursday, Anderson Economic Group, an East Lansing-based economic consulting firm, released the results of a recent analysis comparing new and used vehicle price increases against wage growth in the U.S. private sector....Read more

The Week Ahead: Accelerating the effort to slow the economy

Business / Business News /

The stock market tantrum to begin the year is not really about investors reassessing the economy, geopolitics in Ukraine, or even corporate earnings power. It’s about a newly engaged Federal Reserve ready to fight inflation. And soon.

Investors hope for clarity as soon as this week. The central bank’s interest rate setting committee meets ...Read more

Irfan Khan/Los Angeles Times/TNS

How supply chain crunch, limited security, idle trains made cargo in LA vulnerable to thieves

Business / Business News /

With Southern California a global hub for cargo in this e-commerce age, train cars filled with valuable goods are crisscrossing hundreds of miles of track at all hours.

But amid the supply chain congestion at local ports and elsewhere, those trains sometimes sit idle, leaving them vulnerable to thieves in urban rail yards, according to supply ...Read more

Audi AG/AUDI AG/TNS

Auto review: Audi e-tron GT is an electrifying, elegant but expensive EV

Business / Business News /

The last time I saw the Audi e-tron GT, it was being mobbed by members of a panting press at the 2018 Los Angeles Auto Show with Iron Man — er, actor Robert Downey Jr. — behind the wheel. The GT hasn't lost its appeal.

With a long, lean Audi figure draped over the same bones that carry the Porsche Taycan EV, the e-tron is a rocket ship with...Read more

Ford Motor Co./Ford Motor Co./TNS

New EV rules handicap transplants, play to Detroit Three's strengths

Business / Business News /

As the most onerous federal mpg regulations in 50 years force the auto industry toward electric vehicles, domestic manufacturers are in the catbird seat. Credit the Detroit Three's huge advantage in profitable fleet trucks and vans, say industry analysts, that are lining up corporate customers. Meanwhile, more consumer-reliant Asian automakers ...Read more

Dreamstime/Dreamstime/TNS

Crystal Cruises suspends sailings after Asian parent company warns of financial distress

Business / Business News /

MIAMI — Miami-based Crystal Cruises, a pioneer in luxury cruising, said it’s suspending ocean voyages through the end of April, and its future after that was unclear Thursday as its Asian parent company warned investors it expects to run out of money by the end of the month.

Meanwhile, Crystal, founded in 1988, said in a statement that ...Read more

Rayner Pena R./EFE/Zuma Press/TNS

With help from Iran, Venezuela doubles oil production despite US sanctions

Business / Business News /

Venezuela has doubled its oil production in recent months thanks to Iran and other players that are helping it evade U.S. sanctions, but the country’s industry is now running near the top of its capacity and it is unlikely it could go much higher than current output levels, according to industry analysts.

Oil industry sources confirmed to the...Read more

Paul Brady/Dreamstime/TNS

Fed takes key step in deciding on US digital-coin issuance

Business / Business News /

The Federal Reserve took a key step in weighing the creation of its own digital currency, a move it said could help ensure the U.S. dollar’s dominance as the central bank grapples with fast-growing private cryptocurrencies and coins issued by other nations.

The central bank made no firm conclusions on whether issuing such a currency was ...Read more

Courtesy Netflix/TNS/TNS

Netflix plunges after disappointing with forecast for new users

Business / Business News /

Netflix Inc. expects to add just 2.5 million subscribers this quarter, a number that falls short of Wall Street’s estimates and would mark the slowest start to a new year for the company in at least a decade.

Shares of Netflix fell as much as 20% to $406.12 in after-hours trading, erasing about $45 billion in market value and bracing ...Read more

TINA ROWDEN/Netflix/TNS

Netflix's subscriber growth slows as streaming rivals challenge its market share

Business / Business News /

After experiencing a meteoric spike at the beginning of the pandemic, Netflix's subscriber growth is slowing down.

The Los Gatos-based streamer on Thursday reported that it added 8.3 million subscribers in the fourth quarter, falling short of its initial forecast of 8.5 million. Last year, Netflix added 18 million subscribers, compared with 37 ...Read more

Lynda M. Gonzalez/TNS

California transplants overwhelming other housing markets? Maybe not

Business / Business News /

The pandemic may not have spawned an all-out urban exodus, but it has driven some residents of America’s most populous state to seek shelter elsewhere.

California, with its increasingly unaffordable locales and worsening housing shortage, had a net population loss of about 173,000 people between July 1, 2020, and July 1, 2021. Move-outs weren...Read more

E. Jason Wambsgans/Chicago Tribune/TNS

Top editorial staff leaving A.V. Club entertainment site after refusing to relocate from Chicago to new offices in LA

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Top editorial staff at the Chicago-based A.V. Club, a sister publication to The Onion, are exiting the entertainment website en masse after refusing a mandatory relocation to new offices in Los Angeles.

The seven employees, including the managing editor, TV editor and film editor, all gave the West Coast move the thumbs-down by a Jan. 15 ...Read more

Brian Contreras/Los Angeles Times/TNS

The cost of being TikTok's condiment king, tallied

Business / Business News /

For some people, social media is a much-needed distraction from the workday. For others, it is the workday. Estimates value the creator economy at $20 billion to $100 billion, and as influencer-friendly business models go mainstream and the pandemic normalizes online work, that number probably will continue growing.

A Hollywood-based artist who...Read more

Brian Contreras/Los Angeles Times/TNS

Can LA's condiment king turn TikTok fame into fortune?

Business / Business News /

In the parking lot of a southeast Los Angeles Jack in the Box, Sam Pocker offers me some advice: In dealing with the fast-food chain's "secret sauce," refrigeration is key. Leave the packets in a hot car for too long and they're liable to explode.

"I thought that was a joke," he tells me as we pull into the drive-through, "until they started ...Read more

Dreamstime/Dreamstime/TNS

Real estate Q&A: Will my heirs be responsible for home loan I cosigned for my son?

Business / Business News /

Q: I cosigned a home loan for my son. Will my wife or other heirs be responsible for the debt if he defaults after my death? —Carl

A: Last week, we discussed that a home loan is split into two parts, the promissory note where the borrowers promise to repay the loan and the mortgage that uses the home as collateral to make sure the loan is ...Read more

Michael Laughlin/South Florida Sun Sentinel/TNS

Selling the dream: How one real estate agent takes to the water to show off South Florida mansions

Business / Business News /

On a recent Saturday afternoon, real estate agent Bonnie Heatzig was escorting her clients, visiting from Washington, D.C., on a tour of luxury properties in Boca Raton.

But instead of stepping into her car for the start of the tour, they hopped into her family’s boat for a sunny two hour jaunt around Boca’s waterways and exclusive ...Read more

General Mills seeks to give consumers what they want. Can it move fast enough?

Business / Business News /

What's the next Greek yogurt?

Doug Martin has been asked that question — meaning what is the next food trend — too many times to count. But now it's his job to know, and to act on it.

"It's not a single question — what do consumers want — it's a spectrum," said Martin, the new chief brand and disruptive growth officer for General Mills...Read more

Joe Raedle/Getty Images North America/TNS

Relief or 'poor tax'? Companies offer an alternative to apartment security deposits for Florida renters

Business / Business News /

TALLAHASSEE — As rents skyrocket, startup companies are touting what they consider to be a helpful solution to hefty security deposits pricing Floridians out of apartments.

Instead of forking over an upfront security deposit, tenants can agree to pay a monthly fee — typically about $25.

But there’s a catch: The money isn’t refundable ...Read more