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Microsoft invests in maker of drone air traffic management software

Business / Business News /

SEATTLE -- The venture capital arms of Microsoft, Airbus and Qualcomm have led a $26 million investment in AirMap, the builder of drone air traffic management software said.

The startup, which opened its first office in Santa Monica, Calif., in 2015, builds technology that tracks air traffic, weather and flight restrictions in real time to ...Read more

Hormel profit squeezed by competition, lower prices in turkey

Business / Business News /

MINNEAPOLIS -- Hormel Foods Corp. sold more turkeys during the holidays but made less profit due to low prices and growing competition, its latest quarterly results showed Thursday morning.

Executives lowered their full-year profit outlook as a result of shortfalls in the Jennie-O turkey unit. The company's shares fell 7 percent in early ...Read more

Day after call with Merkel, PSA chief talks jobs with May

Business / Business News /

LONDON -- With German and U.K. car jobs on the line, which leader would get to PSA Group Chief Executive Officer Carlos Tavares first?

After two days of trying to find a suitable time to meet in person, British Prime Minister Theresa May finally had a phone call with the CEO on Wednesday to make the case for Vauxhall cars. A day earlier, ...Read more

Would a new world accord make the lawless internet safe again?

Business / Business News /

SAN FRANCISCO -- In a few years, if you enter all available facts into a super computer and ask it how to make the internet secure, information security expert Adi Shamir predicts this is how the computer will respond:

Kill the internet. Start over again.

"The internet, as we know it, is beyond salvaging," says Shamir, an Israeli who won the ...Read more

Trump scorns the IMF's globalism, and now he gets to vote on it

Business / Business News /

WASHINGTON -- Christine Lagarde is racing through Uganda in a black SUV. It's a bumpy road -- not the only one the IMF chief is likely to encounter in the age of President Donald Trump.

Since World War II, America has set the agenda for the world economy. The International Monetary Fund has been one of its main tools. The Fund helped steady the...Read more

Real estate Q&A: No permit for shutters could be headache for homeowner

Business / Business News /

Q: I had shutters installed after Hurricane Wilma, but the guy who did the work did not get a permit. What are the consequences for me now, if any?

-- Lynn

A: You are right to be concerned and should get this resolved before it becomes a problem. The permitting process is about much more than just paying money to your local government. After ...Read more

On the House: 'We Can Buy Your Home As Is,' the letter says, but be careful

Business / Business News /

The letter arrived in Robin Roberts' mailbox innocently enough late last year. The envelope bore her name and her address. Neatly folded inside was a piece of paper, what appeared to be a handwritten note.

Basically, the letter said, someone had noticed her house. And in no uncertain terms, it asked: Would she consider selling it to them?

"I'm...Read more

Tesla reports fourth-quarter and full-year results, says Model 3 on track

Business / Business News /

SAN FRANCISCO -- Tesla Inc. lost $674.9 million on $7 billion in sales last year and lost $121.3 million for the fourth quarter on $2.2 billion in sales, the company said Wednesday.

Annual revenue rose 73 percent thanks to 76,230 deliveries of the company's Model S and Model X electric luxury vehicles.

Given the company's grand ambitions and ...Read more

Bojangles' chicken makes changes it hopes will please food activists

Business / Business News /

CHARLOTTE, N.C. -- Amid pressure from activists groups, Charlotte-based Bojangles' says it is in the process of phasing out chicken raised on antibiotics.

Led by the North Carolina Public Interest Research Group and the Charlotte blogger Food Babe, activists on Tuesday delivered a petition with more than 12,000 signatures to the Bojangles' ...Read more

Brad Grey leaves struggling Paramount Pictures as search for new studio chief begins

Business / Business News /

LOS ANGELES -- Paramount Pictures Chairman Brad Grey has finalized his exit from Viacom Inc. after 12 years managing the legendary movie studio that has struggled to produce box-office hits.

Grey's departure, which was telegraphed last week and announced Wednesday, takes effect immediately. It comes as Viacom's new chief executive, Bob Bakish, ...Read more

White House says Melania isn't in business; so why are her companies still active?

Business / Business News /

WASHINGTON -- First lady Melania Trump has several companies that are still active enterprises, raising questions about whether they will be used for profit while she is in the White House.

Beyond the 564 companies listed in then-candidate Donald Trump's May 2016 financial disclosure were seven companies associated with his wife.

All but one ...Read more

Fed officials indicate another interest rate hike could come 'fairly soon'

Business / Business News /

WASHINGTON -- Federal Reserve policymakers said at their latest meeting that another small hike in a key interest rate could come "fairly soon," opening the door a bit wider to an increase next month, according to minutes of the meeting released Wednesday.

Fed officials reiterated their "considerable uncertainty" about the fiscal policies of ...Read more

Lexus and Porsche tie in J.D. Power reliability study

Business / Business News /

Lexus and Porsche tied for the top spot in auto information company J.D. Power's annual vehicle reliability study.

But other Japanese, German, South Korean and American brands also scored extremely well.

The study targeted 35,000 owners of model year 2014 vehicles who have driven their vehicles for three full years, asking them to rate ...Read more

American Airlines computer issues fixed at Philly airport

Business / Business News /

PHILADELPHIA -- American Airlines computer issues that caused major delays at Philadelphia International Airport have been resolved, officials said.

A spokeswoman for American, the dominant carrier in Philadelphia, said the issues were caused by the airline's systems not coming back online early Wednesday after a planned overnight internet ...Read more

Apple employees to start moving into long-awaited campus in April

Business / Business News /

CUPERTINO, Calif. -- One of the most iconic companies in the world on Wednesday set a time for when it will move into what looks set to become one of Silicon Valley's most iconic business centers.

Apple said it will begin moving more than 12,000 employees into its new Apple Park campus in April. Construction of the campus in Cupertino will ...Read more

Boeing sues suppliers over liquid that damaged Air Force tanker

Business / Business News /

SEATTLE -- Boeing is suing two California companies it claims supplied a mislabeled chemical that caused severe damage to the refueling system of its first Air Force KC-46 refueling tanker and delayed its first flight in 2015 by a month.

The suit, filed Friday in federal court in Santa Ana, Calif., seeks $10 million or more from Able Aerospace ...Read more

With growth of the gig economy, states rethink how workers get benefits

Business / Business News /

WASHINGTON -- As more and more Americans hold nontraditional jobs that don't have benefits attached -- think freelance graphic designers or Uber drivers -- cities and states are exploring ways to ensure those workers still have access to workers' compensation, unemployment insurance, and other support such as help paying for health insurance.

...Read more

Lockheed says it's boosting robots on F-35 line to reduce costs

Business / Business News /

FORT WORTH, Texas -- President Donald Trump wants to lower the cost of the F-35, but he has also pledged to increase manufacturing jobs in the U.S. Are those two goals compatible?

In an interview on CNBC Wednesday, a Lockheed Martin executive said the company is boosting the use of robotics at its Fort Worth aeronautics complex that produces ...Read more

How Israel became a leader in cybersecurity and surveillance

Business / Business News /

SAN FRANCISCO -- Israel, with a population of just 8 million people, has become a powerhouse in cybersecurity. Only the United States has greater strength in the field.

"In Israel, there are 420 companies in the field of cybersecurity that get funded by venture capital," said Lior Div, chief executive and co-founder of Cybereason, a company ...Read more

The Mortgage Professor: Emerging tight money may hit the mortgage market hard

Business / Business News /

Rising interest rates reduce the demand for housing by increasing the monthly payment on the mortgage most borrowers need to finance a purchase. In today's market, a consumer with good credit and the capacity to put 20 percent down, looking to borrow the $200,000 needed to purchase a $250,000 house, can obtain a 30-year fixed-rate mortgage at 4 ...Read more