Consumer spending growth slows as rising inflation hits Americans' purchasing power

Business / Business News /

WASHINGTON -- Growth in consumer spending slowed in January despite a solid increase in incomes as rising prices hurt Americans' buying power.

The annual inflation rate rose to 1.9 percent, its highest level since 2012 and close to the Federal Reserve's target, the Commerce Department said Wednesday.

The data boosted the likelihood that the ...Read more

Uber CEO apologizes after video shows him berating driver

Business / Business News /

Uber Chief Executive Travis Kalanick has apologized, saying he admits he needs "leadership help" after a video showed him berating one of the company's drivers.

The dashcam video obtained by Bloomberg News and released Tuesday shows Kalanick arguing with driver Fawzi Kamel over Uber's fares, which Kamel complained were too low.

"I lost $97,000...Read more

Lowe's CEO: Layoffs are difficult but necessary for a changing company

Business / Business News /

CHARLOTTE, N.C. -- Following rounds of mass layoffs at Lowe's, the company's CEO says he regrets the impact on those affected but is pleased with the streamlining effort and workers' reception of it. He also did not rule out future job cuts to reduce costs.

Robert Niblock's remarks came after the company reported fourth-quarter financial ...Read more

Best Buy's sales dropped, but profits rose during holidays

Business / Business News /

MINNEAPOLIS -- While Best Buy proclaimed it has completed its four-year Renew Blue turnaround, its lower holiday sales and outlook for flat growth for this year indicate that it its new chapter will not be smooth sailing.

The electronics retailer's shares were down 4 percent Wednesday morning after it reported fourth-quarter sales and profit ...Read more

McDonald's aims to win customers back with mobile ordering, delivery

Business / Business News /

CHICAGO -- McDonald's executives on Wednesday unveiled an ambitious plan to win back lost customers by offering mobile and kiosk ordering, expanding delivery options and continuing to improve the quality of its food.

The world's largest burger chain told analysts at an event in Chicago that it is accelerating the remodeling of its restaurants ...Read more

Jennifer Van Grove: Cord-cutters who love sports not totally out of luck

Business / Business News /

If you're a sports fan considering cutting your cable television cord, you might want to think twice.

Because of complex licensing agreements and the perceived value to the copyright owners, sports are often a challenge to watch in streaming environments.

Don't forget, however, that you can get broadcast network affiliates' sports coverage in ...Read more

Helpware: High-end Roku Ultra works as beautifully as early models

Business / Business News /

Every time I sit down to pay my cable bill -- and I have to sit down when I open the bill -- I wonder why I'm shelling out so much for channels I almost never watch. There are only a half-dozen shows that I watch on my 225-channel cable plan, which includes HBO, Showtime and Cinemax, yet I'm paying dearly for all of them.

What I do watch are ...Read more

Tech Q&A: Fixing Windows 7 and finding lost data

Business / Business News /

Q: In January, I upgraded my Dell Windows 7 laptop to the "assistive technologies" version of Windows 10, which is designed for people with disabilities. After five days, I decided that I preferred Windows 7 and tried to revert to it. However, Windows 7 failed to start and I got the message: "A required device isn't connected or can't be ...Read more

Amazon says it's making progress in fixing cloud outage causing online disruptions

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SEATTLE -- said it is making progress as it works to restore service after a lengthy outage on its cloud storage service that wrought widespread disruption in online services Tuesday.

In an alert on the Amazon Web Services service health dashboard, the tech giant's cloud computing unit said that it was "seeing recovery" in the ...Read more

Tax fraud: Another reason to file your returns early

Business / Business News /

Tax time is prime time for cyber thieves looking to steal your tax refund by filing a fake return in your name.

Such tax ID theft is booming. In January, the Federal Trade Commission released a report showing a nearly 50 percent jump in identity theft complaints in 2015, owing mostly to a surge in tax refund fraud.

Crooks hook their victims in...Read more

Amazon cloud service outage breaks parts of the internet

Business / Business News /

Amazon's S3 web service was down Tuesday morning, wreaking havoc on the internet -- and on social media.

Amazon Simple Storage Service, or Amazon S3, provides web hosting, image and file storage and backup storage services for a wide variety of companies, including Netflix, Airbnb and Slack. Its interface allows users to store and retrieve data...Read more

Apple investors reject diversity proposal

Business / Business News /

SAN JOSE, Calif. -- Apple touts its commitment to diversity, but its shareholders don't seem to care all that much about it.

On Tuesday, Apple investors overwhelmingly rejected a proposal that would have urged the company to ramp up its efforts to hire African-Americans, Latinos and other people of color for its board of directors and senior ...Read more

Shares of Signet Jewelers plunge after report of rampant sexual harassment, discrimination

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AKON, Ohio -- Shares of Signet Jewelers Ltd. continued to plunge Tuesday afternoon, following a report released Monday evening by The Washington Post about allegations of widespread sexual harassment at the Akron-based company.

Shares of the company closed down $9.29, or 12.8 percent, at $63.59.

The stock price has dropped by more than half ...Read more

Comcast NBCUniversal to buy the rest of Universal Studios Japan for $2.3 billion

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LOS ANGELES -- Comcast NBCUniversal announced plans Tuesday to spend $2.3 billion to buy the remaining shares of the Universal Studios theme park in Japan.

The move is another sign of confidence in the international theme park industry, coming weeks after Walt Disney Co. announced plans to buy out its partners in Euro Disney.

Comcast ...Read more

Target to launch new brands, lower prices after quarterly results disappoint

Business / Business News /

NEW YORK -- Target Corp. will invest in lowering prices, remodeling hundreds of stores, and launching more than a dozen new exclusive brands over the coming year in an effort to jump-start sales that continued to fall in the most recent quarter.

Executives for the Minneapolis-based retailer took to a stage in New York on Tuesday to lay out a ...Read more

Numbers refute Trump's claim businesses can't borrow because of Dodd-Frank

Business / Business News /

WASHINGTON -- President Trump was preparing the first step in a key campaign promise -- dismantling the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act -- when he repeated a frequent criticism of the law.

"We expect to be cutting a lot out of Dodd-Frank because, frankly, I have so many people, friends of mine that had nice ...Read more

Diane Stafford: Why did he quit? Ask the person who sat next to him

Business / Business News /

When business psychologist Kelly Reed spoke on "Winning Workplace Cultures" at a recent Kansas City Area Development Council meeting, she admitted at the outset of her presentation that "what works for some organizations many completely fall flat for another."

That's why most of the meeting consisted of human resource specialists telling each ...Read more

Battle looms over next steps for air traffic control

Business / Business News /

ATLANTA -- With a new president in office, warring contingents in the airline industry are again pushing competing visions of how to fix the nation's aging air traffic control infrastructure.

President Donald Trump focused on the issue during a meeting with airline industry CEOs in early February.

"I hear we have the wrong system," Trump said ...Read more

Your Office Coach: Otherwise excellent co-worker alarmingly untidy

Business / Business News /

Q: I have an intelligent, professional co-worker whose office looks like a pig sty. "Mark" must be some sort of hoarder because he never throws anything away. Stacks of paper cover his desk, and documents are haphazardly strewn across the floor. Plastic food containers and dirty utensils are everywhere.

Although Mark's office has become a ...Read more

Liz Reyer: Tips for dealing with a boss who is a bully

Business / Business News /

Q: My boss is a bully, but her behavior falls just short of what I would consider HR-level offenses. I find myself feeling defenseless and like I should be able to handle her digs and undermining. How should I handle this?

--Avi, 31, marketing analyst

A: The first thing to remember when dealing with a bully is this: It's not your fault.

The ...Read more