Uber, Postmates agree on $2.65 billion all-stock deal

Business / Business News /

Uber Technologies Inc. has agreed to acquire Postmates Inc. in a $2.65 billion all-stock takeover expected to be announced as soon as Monday morning in the U.S., according to people familiar with the matter.

Uber Eats head Pierre-Dimitri Gore-Coty is expected to continue to run Uber's combined delivery business, according to a person who asked ...Read more

Fearful and frugal: Coronavirus wreaks havoc on America's psyche

Business / Business News /

As the U.S. reopens, Americans aren't much interested in going out and spending.

A survey of 2,200 U.S. adults shows how COVID-19 has dramatically changed behavior in the world's biggest economy, potentially for the long haul. The data flashes warning signs for the recovery, showing waning interest in public events and material things, like ...Read more

Barr asked if probe into hacking of environmentalists is limited

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WASHINGTON -- A Democratic senator is asking Attorney General William Barr whether "political pressure" is limiting a probe into the hacking of environmental groups in light of Barr's ouster of the chief U.S. prosecutor in Manhattan.

"The risk is obvious that the investigation will be slow-walked or curtailed" because of President Donald Trump'...Read more

Keystone XL breaks ground in Canada in bid to ward off US veto

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Construction on the controversial Keystone XL oil pipeline has begun in Canada, and the premier of the nation's top oil-producing province says the project's momentum may make it difficult for a future U.S. administration to cancel it.

"We have taken a conscious risk to get construction started, to get facts on the ground," Alberta Premier ...Read more

Social media policy banning term 'Black Lives Matter' prompts Minneapolis ad agency to walk out

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MINNEAPOLIS -- Periscope ad agency's parent company changed a rule forbidding employees from using "Black Lives Matter" in social media posts after 179 Minneapolis workers walked off the job on Thursday.

Employees said they wanted to use the term to show solidarity with Black and racial justice protesters in the wake of the George Floyd killing...Read more

Atlantic City's casinos — all but one — reopen with no smoking, drinking, or eating inside

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Atlantic City casinos welcomed gamblers for the first time in almost four months on Thursday, but the seaside city famous for not enforcing Prohibition couldn't let its guests drink on the casino floors.

The booze ban was one of several state restrictions that casinos complied with to open during the coronavirus pandemic. Gamblers wore masks ...Read more

Google probe has states split on strategy with US antitrust case looming

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WASHINGTON -- With the U.S. Justice Department nearing a lawsuit against Alphabet Inc.'s Google for antitrust violations, a coalition of states that are conducting a parallel investigation are divided over the best strategy for taking on the internet giant, according to people familiar with the matter.

While the multistate investigation into ...Read more

Natasha Frost: 4 steps to avoiding a horrible co-living situation

Business / Business News /

With the unemployment rate at its highest since the Great Depression, perhaps you're one of the many Americans currently having difficult conversations -- or avoiding one -- on the topic of sharing space.

That might mean welcoming a roommate into your home, crashing with Mom and Pop for the foreseeable future, or taking the plunge to work from ...Read more

The Week Ahead: Follow the mouse

Business / Business News /

There were several milestones in March that grabbed the attention of Americans to the fast developing threat from the novel coronavirus: local schools closing, California's statewide stay-at-home order, and Disney closing the gates of its theme parks.

Some of those gates are scheduled to reopen in the week ahead. Downtown Disney starts the ...Read more

Even popular Ford F-Series hit hard amid plummeting industry sales

Business / Business News /

DETROIT -- If anything in life is predictable, it's steady sales of the Ford F-150.

The popular pickup truck saves the day -- every quarter, evey year -- for Ford Motor Co.

America loves its trucks. And, global pandemic or not, trucks sell.

The F-Series allowed Ford to reflect the smallest second quarter sales drop of the Detroit Three.

Ford...Read more

Unemployment and job growth show strong improvement, but coronavirus darkens the outlook

Business / Business News /

WASHINGTON -- The U.S. economy added a larger-than-expected 4.8 million jobs in June despite the worsening COVID-19 pandemic, registering solid gains for the second straight month after suffering near-Great Depression losses in the spring, the government reported Thursday.

Reflecting the June increase, the nation's unemployment level fell to 11...Read more

Consumer Confidential: Fake reviews should stay online, researchers say. I'm not so sure

Business / Business News /

Perhaps it was inevitable that in this strange era of "alternative facts" and fake claims of "fake news," someone would make the case for why bogus online reviews are a good thing.

Still, that anyone would make such an argument is jarring, especially when it comes from scholars writing in an academic journal.

The study is titled, "A Tangled ...Read more

Silverado edges out Ram in the truck wars as automakers report dismal overall sales

Business / Business News /

DETROIT -- The Chevy Silverado is keeping the ever-encroaching Ram at bay in the ongoing truck wars, despite overall dismal industry auto sales in the second quarter due to the global coronavirus pandemic.

On Wednesday, many automakers reported quarterly sales results that reflected the impact of idled vehicle production for most of the quarter...Read more

Some homeowners struggled to pay PACE improvement loans. The coronavirus made it harder

Business / Business News /

LOS ANGELES -- It wasn't until the work was done that Marcelino and Josefina Rodriguez said they learned the truth.

They had been signed up for a roughly $45,000 PACE home improvement loan at nearly 10% interest -- even though they said a woman working with the contractor told them their new roof and water heater would be free through a ...Read more

New trade agreement means steep learning curve for auto industry

Business / Business News /

DETROIT -- Imagine being asked to bake a cake but not being told what kind of cake you'll be baking and knowing you'll be judged on the results.

You might know you need milk, eggs and flour, but whether the cake needs to be chocolate or carrot is pretty important, too, and will change what you pick up during your shopping trip.

That's how ...Read more

Ford Motor Co. partners with Disney on Ford Bronco reveal

Business / Business News /

DETROIT -- Disney will partner with Ford Motor Co. on the upcoming Ford Bronco reveal, the automaker confirmed Thursday.

Ford will unveil the all-new SUV "across Disney's broadcast, cable, digital and streaming properties" on July 13, Ford said in a news release.

"Three custom 3-minute films will air on ABC, ESPN and National Geographic, in ...Read more

Real estate Q&A: Who has to pay for place to stay while rental home is tented for termites?

Business / Business News /

Q: We rent a single-family home and just found out that it needs to be tented for termites early next month. The landlord told us she would reduce our rent for the time we need to stay in a hotel. Money is tight, and a few days of rent reduction will not cover the cost of a hotel and meals. We want her to pay for these too. This is a massive ...Read more

Grindr's new owners are straight. They say that's OK

Business / Business News /

The international ownership saga of America's most popular gay dating app, Grindr, came to a close last month when a group of American investors took control of the West Hollywood company.

China-based Beijing Kunlun Tech Co. bought Grindr in 2016 and had hopes of taking the company public in a large stock offering until the U.S. government ...Read more

US June jobs rise above-forecast 4.8 million; claims elevated

Business / Business News /

The rebound in the U.S. labor market accelerated in June as broader reopenings spurred more hiring last month, though filings for unemployment benefits remained elevated last week as coronavirus cases picked up.

Payrolls rose by 4.8 million in June after an upwardly revised 2.7 million gain in the prior month, according to a Labor Department ...Read more

Americans face 25% jump in power bills, adding to summer of woe

Business / Business News /

As the U.S. faces a blisteringly hot summer, millions of people already reeling from the coronavirus's economic fallout are about to face sharp increases in electric bills that may drive some to the brink of financial ruin.

With soaring temperatures expected in July and August, people stuck at home because they're unemployed or working remotely...Read more