The Week Ahead: The other inflation measurement

Business / Business News /

It doesn't get the media attention like its cousin, the Consumer Price Index, but the academic-sounding Personal Consumption Expenditures is the inflation gauge favored by the Federal Reserve. So investors should watch it carefully.

As its name suggests, the better-known Consumer Price Index measures price changes in things consumers are buying...Read more

Under the Hood: Making sense of scan tool readings

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Q: I took your advice and bought an inexpensive scan tool. It's been fun trying it out on several family cars, and I'm almost eagerly awaiting a problem so I can try to fix it! I'm curious about the "STFT" and "LTFT" percentage numbers -- and what they represent. I've also noticed one car shows a reading for "MAP" and the other shows it as "MAF"...Read more

American lovers of lingerie and luggage may feel tariff pinch

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If you're an American who likes wearing Victoria's Secret bras, Guess jeans or Nike shoes, chances are you'll feel the impact of the $50 billion in tariffs that President Donald Trump is expected to unleash on Chinese imports.

A vast amount of items used by American consumers -- from Under Armour leggings to Bath & Body Works shower gel and ...Read more

Porsche rolls out plans to pump fossil fuel profits into electric car creation

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SAN FRANCISCO -- The powerful new Porsche 911 GT3 RS's 500-horsepower gasoline engine can blast a driver from zero to 62 mph in 3.2 seconds.

How fast can the German automaker manage the transition to a future of electric vehicles and robot-driven cars?

The company addressed that question in its hometown of Stuttgart earlier this month, laying ...Read more

Byron Allen's company acquires Weather Channel in $300-million deal

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LOS ANGELES -- Byron Allen, the comedian-turned-media entrepreneur, has acquired the Weather Channel cable network as he seeks to build his TV and film business, he announced Thursday.

Allen's Los Angeles-based media company, Entertainment Studios, purchased Weather Group, the parent company of the Weather Channel and Local Now streaming ...Read more

Chicago Tribune says cartoonist Scott Stantis had fake Twitter followers

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CHICAGO -- The Chicago Tribune said Thursday that 5,000 fake Twitter followers were purchased for editorial cartoonist Scott Stantis' account, an act that violated the Tribune's code of ethics.

In a letter to readers, Chicago Tribune Publisher and Editor-in-Chief Bruce Dold said the Twitter followers were bought on Stantis' behalf through a ...Read more

AT&T wants to buy Time Warner to 'weaponize' its content, government says at start of antitrust trial

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WASHINGTON -- The biggest U.S. antitrust case of this century kicked into high gear on Thursday as a government lawyer warned that AT&T Inc. wants to buy media giant Time Warner Inc. to "weaponize" its must-have content -- a move that would raise prices for consumers and hinder innovation.

"Time Warner would be a weapon for AT&T because AT&T's ...Read more

Experts say video of Uber's self-driving car killing a pedestrian suggests its technology may have failed

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Police late Wednesday released a video that shows an Uber robot car running straight into a woman who was walking her bicycle across a highway in Tempe, Ariz. The woman was taken to a hospital, where she died Sunday night.

The video, shot from the car, is sure to raise debate over who's to blame for the accident.

In the video, the victim, ...Read more

California privacy advocates ask Facebook why it's opposing proposed ballot measure

Business / Business News /

When Facebook CEO Mark Zuckerberg finally spoke Wednesday after five days of silence about the company's latest major crisis, he said during a television interview that he wasn't "sure we shouldn't be regulated."

Why, then, is Facebook opposing the California Consumer Privacy Act of 2018? That's what the lead proponent of a proposed state ...Read more

The key takeaways from Mark Zuckerberg's press tour

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Amid mounting pressure from customers and regulators, Facebook Chief Executive Mark Zuckerberg broke his public silence Wednesday about the widening Cambridge Analytica scandal. He began with a prepared statement posted on his Facebook page followed by interviews with CNN, Recode, Wired and the New York Times -- conversations that offered deeper...Read more

CEO of Bratz dolls maker leads bid to salvage hundreds of U.S. Toys R Us stores slated for closure

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LOS ANGELES -- California toy mogul Isaac Larian is leading an effort to save more than half of the 735 domestic Toys R Us Inc. stores that would close under the bankrupt retailer's plan to liquidate.

Larian is majority owner and chief executive of MGA Entertainment Inc., a privately held toy maker based in Van Nuys whose lineup includes Bratz ...Read more

Target could gain $600 million in sales from Toys 'R' Us demise

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MINNEAPOLIS -- Target could rake in more than $600 million in additional sales -- which would translate into a nearly 1 percent lift in its comparable sales this year -- as a result of the impending demise of Toys 'R' Us, according to a new research report.

As the bankrupt chain prepares to shutter its 735 Toys 'R' Us and Babies 'R' Us stores ...Read more

Starbucks 'trying to value the dignity of work,' Schultz tells shareholders

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SEATTLE -- Starbucks will continue investing in its workers even if that means forgoing the short-term stock-price lift it might have seen by passing more of its tax-cut windfall on to shareholders, Howard Schultz said Wednesday.

The coffee giant's executive chairman urged shareholders who are disappointed with the "fairly flat" performance of ...Read more

Trump orders China tariffs that administration officials hail as 'historic'; critics fear trade war

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WASHINGTON -- President Donald Trump ordered about $50 billion in tariffs on a wide range of Chinese imports Thursday, as well as new restrictions on Chinese investments in the U.S., as his administration seeks to force Beijing to stop what officials describe as a yearslong effort to steal U.S. technology.

The move, which Trump announced at the...Read more

As Fed raises rates, look for higher costs on credit cards, car loans and home mortgages

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Americans are taking on more debt, and they're soon going to be paying more for it.

The Federal Reserve on Wednesday raised its benchmark interest rate, citing an improving economy, low unemployment and rising wages. The move will affect millions of Americans by making it more expensive to borrow money, whether that's in the form of credit card...Read more

Mark Phelan: Cadillac unveils powerful twin-turbo V8 in 550-horsepower CT6 V-Sport sedan

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DETROIT -- Cadillac will unveil an all-new, 550-horsepower twin-turbo V8 engine in a V-Sport performance version of its CT6 luxury sedan at the New York auto show next week.

The 4.2-liter engine will be linked to a 10-speed automatic transmission and sport-tuned all-wheel-drive system. A 500-hp version will also be available.

Cadillac will ...Read more

The hunt for dirty money in real estate will keep going, feds say

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MIAMI -- The federal government says its hunt for dirty money in luxury real estate in South Florida and other high-priced housing markets is working -- and the temporary initiative is being extended yet again.

Since 2016, the U.S. Treasury Department has mandated that secretive shell companies buying luxury homes with cash in certain areas ...Read more

From a box of radio parts, Digi-Key grew into a $2.3 billion anchor of northwest Minnesota

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THIEF RIVER FALLS, Minn. -- If you were going to pick a spot to locate a worldwide shipping company, this wouldn't be it.

An hour from the nearest interstate highway, with an airport terminal that's smaller than the local curling club, Thief River Falls is a place where the recent arrival of a Tractor Supply store was big news.

Yet this city ...Read more

Health insurance help for small business in a big-company tool

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PHILADELPHIA -- Chant Engineering Co., a Bucks County, Pa., manufacturer of large-scale testing equipment, had endured years of double-digit percentage increases in health insurance costs.

But in 2014, spurred by the new regulations under the Affordable Care Act, the family-owned company in New Britain with 50 full-time employees adopted a ...Read more

Apple's new flagship Chicago store is for sale, and could fetch $170 million or more

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CHICAGO -- Apple's new flagship store on Michigan Avenue is going up for sale and could fetch at least $170 million.

Chicago-based Walton Street Capital has hired brokers to put the 20,000-square-foot store on the market for sale, and is expecting offers in the range of $170 million to $175 million, according to people familiar with the plan.

...Read more