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Walgreens to grow by 1,932 stores with Rite Aid deal

Business / Business News /

CHICAGO -- After years of trying, Walgreens Boots Alliance has received clearance from the Federal Trade Commission to expand its business through the purchase of 1,932 Rite Aid stores for $4.38 billion.

The FTC had long resisted a deal between Walgreens and competitor Rite Aid, forcing the two to revise terms of a transaction several times ...Read more

Facebook to be called before Senate panel on Russian meddling

Business / Business News /

WASHINGTON -- The Senate Intelligence Committee expects representatives of Facebook Inc. to testify at a public hearing examining Russia's use of social media to influence last year's U.S. presidential election.

The panel hasn't yet determined all of the issues that will be covered or invited company representatives, Chairman Richard Burr, R-N....Read more

In stark contrast to Obamacare plans, premiums for job-based coverage show modest rise

Business / Business News /

Family health insurance premiums rose an average 3 percent this year for people getting coverage through the workplace, the sixth consecutive year of small increases, according to a study released Tuesday.

The average total cost of family premiums was $18,764 for 2017, according to a survey of employers by the Kaiser Family Foundation and the ...Read more

Some airlines capping fares before Maria

Business / Business News /

MIAMI -- Taking a lesson from Hurricane Irma, Sen. Bill Nelson, D-Fla., is asking airlines to proactively limit the cost of their flights for travelers trying to get out of Hurricane Maria's path.

And airlines are agreeing.

On Monday, Nelson sent a letter to CEOs at 10 major U.S. airlines asking them to regulate the prices of their flights to ...Read more

Best Buy sees solid growth ahead in 2021

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MINNEAPOLIS -- Best Buy Co. executives on Tuesday set "thoughtfully ambitious" financial targets for the next three years, expressing confidence that the turnaround strategy they started five years ago has positioned the company for growth.

With the forecast, they launched a half-day meeting with analysts and institutional investors at the ...Read more

Hurricane Irma damage could be as high as $65 billion

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MIAMI -- Hurricane Irma's monstrous 185 mph winds seemed to be the biggest menace as the storm inexorably made its way toward Florida earlier this month.

But according to a study by the information company CoreLogic, flooding wreaked the costliest damage to homes and businesses in the storm's path.

According to the analysis, the total insured ...Read more

Toys R Us files for bankruptcy protection as the holiday shopping season nears

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Toys R Us Inc. has filed for bankruptcy reorganization, a victim of the sea change in retailing and the company's own heavy debt burden, but said it would continue to operate as usual heading into the crucial holiday shopping season.

With its spacious, high-ceiling stores that hold thousands of items, Toys R Us pioneered the big-box format for ...Read more

Trump's deadline on 'Dreamers' reverberates through health industries

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Karla Ornelas said she has "always had the idea of being a doctor, I've never seen myself doing anything else." The third-year pre-medical student at the University of California, Davis said she plans to become a family medicine physician and work in California's Central Valley, where there is a great need for doctors and especially bilingual ...Read more

Your Office Coach: After dustup with boss, start from scratch or move on

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Q: I recently got a new boss who is difficult and obnoxious. In my eight years with this company, "Carol" is the worst supervisor I have had. Ever since she arrived, she has treated me unfairly and underestimated my abilities.

After working with Carol for two weeks, I complained to human resources. At that time, I was going through a lot and ...Read more

Liz Reyer: Expanding business wants to stay unified as it grows

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Q: I've been growing a small business, and we're getting larger now, adding new locations and expanding the team. So far, we've all been based in the same office, but now I have to consider how to remain unified when some people work from home, and others have offices in different cities. What's the best strategy for us?

--Monique, 47, owner, ...Read more

Gov. Scott Walker signs $3 billion Wisconsin Foxconn bill and promises spring groundbreaking

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STURTEVANT, Wis. -- Wisconsin Gov. Scott Walker Monday approved up to $3 billion in subsidies for a flat screen plant, binding the state's economic hopes and his own political future to the investment proposed by an Asian electronics giant.

The signing of the legislation clears the way for the Walker administration and Foxconn Technology Group ...Read more

Dollar Tree names new CEO

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CHARLOTTE, N.C. -- Dollar Tree, the parent company of Family Dollar, has named Gary Philbin as its new CEO. Philbin will maintain an office in suburban Charlotte, where Family Dollar is based, and will split his time between there and Chesapeake, Va., where Dollar Tree has its corporate headquarters.

Philbin's promotion is effective Sept. 18, ...Read more

Suit: Tesla, other automakers used illegal foreign workers to build plants

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SAN JOSE, Calif. -- Widening earlier claims of immigration fraud at a Tesla factory, a recently unsealed whistleblower suit says several other major automakers, including Mercedes-Benz, BMW and Volkswagen, illegally used foreign construction workers to build their U.S. factories.

The charges expand on an investigation by The Mercury News last ...Read more

Trump's chance to reshape the Federal Reserve could be his biggest economic legacy

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WASHINGTON -- President Donald Trump is betting he can turbocharge the U.S. economy with tax cuts and trade deals, but his greatest leverage to influence growth may rest with an unparalleled opportunity to reshape the world's most powerful central bank.

Because of a wave of vacancies, Trump will have the ability in the coming months to appoint ...Read more

Video streaming pioneer Roku aims to raise up to $252 million with IPO

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Roku Inc., the leading maker of devices for streaming internet video on televisions, hopes to raise up to $252 million with an initial public stock offering.

The Los Gatos, Calif., company's IPO registration filing Monday came the day after the growing popularity of streaming video platforms such as Netflix was evident at the Emmy Awards, where...Read more

Lawmakers push broad review of Equifax security

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WASHINGTON -- Lawmakers are responding to Equifax Inc.'s loss of data on up to 143 million customers with a flurry of proposed legislation, demands for explanations, hearings and calls for regulators to investigate.

Democrats are leading the charge on legislation and investigations, while Republicans are joining in with demands for an ...Read more

Northrop Grumman is buying Orbital ATK for $7.8 billion

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Defense giant Northrop Grumman Corp. is acquiring aerospace and defense firm Orbital ATK Inc. for about $7.8 billion in cash, a deal that would boost Northrop's presence in the space and missile businesses.

Orbital shareholders are to receive $134.50 per share in cash, a 22.2 percent premium over Friday's closing price. Northrop is to assume $1...Read more

General Motors workers on strike at assembly plant in Ontario

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DETROIT -- Workers at a General Motors plant in Ontario where the popular Chevrolet Equinox compact SUV is made went on strike late Sunday as negotiators failed to reach agreement on a new contract.

The union, Unifor Local 88, posted an announcement on its website about the strike:

"Your master bargaining committee has not been successful in ...Read more

No 'It' factor among the new box-office releases

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LOS ANGELES -- "It" does it again.

Despite dropping 51 percent in earnings in its second weekend in theaters, the Warner Bros.' Stephen King adaptation kept the top spot in this week's box office charts, surpassing analysts' projections of $55 million by an estimated $5 million for a to-date total of $218.7 million in the U.S. and Canada.

The ...Read more

Detroit brand Shinola looks to bring manufacturing back to the US, and stakes a claim in Chicago

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CHICAGO -- Detroit, and the idea of jobs making a very different kind of motor in the Motor City, is a big part of upscale watchmaker Shinola's brand.

But Shinola also has strong Chicago ties. A local tannery supplies the leather Shinola uses in its watch straps. Three Shinola stores have opened or are opening in the Chicago area by this fall. ...Read more