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John T. Greilick/The Detroit News/TNS

Ford considers $400M investment for EV component manufacturing in Kentucky

Business / Business News /

Ford Motor Co. is considering a $400 million investment for a component manufacturing facility in Kentucky to support production of electric vehicles.

Ray Leathers, CEO of the Shelby County Industrial & Development Foundation, said Friday that the Dearborn automaker is in the final stages of making the commitment for a facility to support a ...Read more

Clarence Tabb Jr., Detroit News/The Detroit News/TNS

Detroit residents keep reporting Stellantis paint odors. Tlaib says EPA should do more

Business / Business News /

Resident complaints about paint odors from Stellantis NV's Mack Assembly Plant in Detroit have continued to trickle into the state's environmental agency in recent months, records show.

The Michigan Department of Environment, Great Lakes and Energy’s air assistance program got odor reports from the east Detroit facility on at least a dozen ...Read more

Antonio Perez/Chicago Tribune/TNS

Illinois touts diversity in pot industry, but new owners say they need financial help

Business / Business News /

Illinois has the most diverse cannabis industry in the United States, according to a new study — but new business owners say they need a lot more help to get started.

The state-commissioned disparity study found that 60% of all recreational and medical cannabis licenses went to minority- or women-owned businesses. That includes 27% of owners ...Read more

Ana Ramirez/The San Diego Union-Tribune/TNS

San Diego OK'd more new homes in 2023 than any year in decades

Business / Business News /

SAN DIEGO — San Diego saw a dramatic surge in homes approved for construction during 2023, nearly twice as many as were approved the year prior and the highest number in a single year since at least 2005.

City planning officials, who said it’s likely this was the most homes approved in a single year since the 1980s, credited the surge to a ...Read more

Chitose Suzuki/The Dallas Morning News/TNS

Five things to know about the AT&T data breach

Business / Business News /

AT&T says calls and text message records for tens of millions of the phone service provider’s customers were exposed in a massive data breach two years ago.

The company announced Friday that nearly all of its mobile phone customers’ information was exposed over the course of months in 2022. The data stolen includes “records of calls and ...Read more

Henry Payne/The Detroit News/TNS

Auto sales '24: The market's biggest winners, losers and movers (so far)

Business / Business News /

Like a game of Twister, the auto industry is stretched in all different directions these days.

Manufacturers must pump out popular, internal-combustion vehicles to meet customer needs even as they satisfy government demands for electric vehicle sales. American consumers love big SUVs, but high gas prices and interest rates demand smaller cars. ...Read more

Renée Jones Schneider/Star Tribune/TNS

One sector of Twin Cities commercial real estate that's not sputtering: Industrial

Business / Business News /

Industrial buildings often lack curb appeal, but to developers and investors, they might as well be the coveted big house at the end of the cul-de-sac.

Demand for those nondescript, low-rise concrete warehouses, distribution centers and manufacturing buildings that increasingly dot the Twin Cities suburbs remains exceptionally strong at a time ...Read more

Michael M. Santiago/Getty Images North America/TNS

Dealmaking reignites for banks just as consumers start to falter

Business / Business News /

The first three U.S. banking giants to report midyear earnings are leaning on a revival in Wall Street dealmaking as high interest rates take a mounting toll on income from lending.

Investment bankers and underwriters at JPMorgan Chase & Co. and Citigroup Inc. posted their best second-quarter in three years as merger activity and debt capital ...Read more

Angelina Katsanis, Star Tribune/Star Tribune/TNS

Thousands of Minnesota white-collar workers now eligible for overtime pay

Business / Business News /

Despite much pushback, millions of American white collar workers are eligible for overtime pay this month under a new federal law that boosts the wage levels employers must use to decide which employees qualify for overtime and which are exempt.

In Minnesota, an estimated 10,000 workers are expected to benefit. The rule changes mainly apply to ...Read more

Brian van der Brug/Los Angeles Times/TNS

Dry cleaner struggles to survive in empty downtown LA skyscraper. Welcome to the zombie economy

Business / Business News /

A little before 8 one summer morning, the canyons of downtown Los Angeles still hold the cool of night.

Santiago Lopez walks down 6th Street into the deep and familiar shade of a high-rise lofting above him between Hope and Grand. If any homeless resident bedded down beneath the building's generous overhang, security has cleared them out.

...Read more

Aldo Ferrero/Maserati/TNS

Auto review: Maserati's new electric droptop captures lightning in a bottle

Business / Business News /

Our roads were once filled with grand touring cars, providing the manners and style of a sports car, but with more room and comfort. It’s now shunned for the working-class SUV, which is little more than a modern-day Conestoga wagon. It’s as if consumers are comforted by the ability to haul people or cargo at a moment’s notice.

Of course,...Read more

David McNew/Getty Images North America/TNS

Auto review: 2024 Gladiator keeps Jeep consumers eyes perked

Business / Business News /

With Jeep Wrangler fans driving profitability for FCA/Stellantis, the Gladiator enters Grasso’s Garage this week with their Mojave desert rated edition.

With the same clientele as Wrangler lovers who want a little more in their life, and to avoid changing brands, the Gladiator was born with a Wrangler cab and a pickup style bed strapped to ...Read more

Courtesy U.S. Coast Guard/TNS/TNS

Ship emergency on Lake Superior is latest safety mishap for Great Lakes freighter operator

Business / Business News /

Lake Superior was calm, and the Michipicoten was plying deep waters June 8 when the ship's crew heard a loud bang.

The 698-foot freighter suddenly began taking on water near Isle Royale. The Michipicoten issued a mayday, and the U.S. Coast Guard rushed to the scene, evacuating half the ship's 22 crew members. The vessel limped to Thunder Bay, ...Read more

Stacey Wescott/Chicago Tribune/TNS

Illinois Stellantis plant in line for $334M federal grant

Business / Business News /

An embattled auto plant in far northern Belvidere is in line for a planned $334 million grant from the federal government, part of the Biden administration’s commitment to stoking a transition to electric vehicles, the U.S. Department of Energy announced Thursday.

The grant would be a significant investment in both Illinois’ EV industry and...Read more

Anthony Souffle/Minneapolis Star Tribune/TNS

Retailers cut prices in 'summer of savings' but consumers need to shop smart for best deals

Business / Business News /

After more than a year of cost hikes, consumers who have recently checked their receipts may have noticed something odd — prices for some of their everyday essentials, from Clorox wipes to organic granola bars, have started to ring up a little cheaper.

In what at least one retailer has dubbed "a summer of savings," mass retailers like Target,...Read more

Henry Payne/The Detroit News/TNS

Henry Payne: Towing across the Canadian wilderness in the Jeep Grand Wagoneer

Business / Business News /

WAUBAUSHENE, Ontario — When I arrived at Quiet Waters Sailboats on Georgian Bay from Detroit, owner Rick and I met each other with exclamations.

“Man, you poor guys are paying $6 a gallon for premium gas!” I blurted.

“Man, that Jeep Grand Wagoneer is the biggest thing I’ve ever seen!” Rick said.

I had just filled up the Grand’s ...Read more

Octavio Jones/AFP/GETTY IMAGES NORTH AMERICA/TNS

Real estate stocks soar to best day of year on rate cut bets

Business / Business News /

The stock market’s worst group notched its best day of the year as a cooler-than-expected inflation report stoked bets that the Federal Reserve will start cutting interest rates in September.

Shares of real estate companies jumped 2.7% Thursday for their biggest gain of 2024, climbing to their highest level since March as investors snapped up...Read more

Todd McInturf/The Detroit News/TNS

ZeroEyes raises $53 million, employs over 150 as demand for gun scans grows

Business / Business News /

At a 24-hour computer center in Conshohocken, technicians for ZeroEyes monitor software tied to surveillance cameras in 42 states, checking automated reports of possible guns where they aren’t supposed to be, and other security threats to crowds of commuters, students, and other groups.

The seven-year-old company, whose five founders include ...Read more

Octavio Jones/AFP/GETTY IMAGES NORTH AMERICA/TNS

Real estate stocks soar to best day of year on rate cut bets

Business / Business News /

The stock market’s worst group notched its best day of the year as a cooler-than-expected inflation report stoked bets that the Federal Reserve will start cutting interest rates in September.

Shares of real estate companies jumped 2.7% Thursday for their biggest gain of 2024, climbing to their highest level since March as investors snapped up...Read more

Andrew Harnik/Getty Images North America/TNS

Delta apologizes for posts criticizing flight attendants wearing Palestinian flag pins

Business / Business News /

Delta Air Lines has apologized after an employee used the company's social media account to say they would be "terrified" if they saw a Delta flight attendant wearing a Palestinian flag pin.

"Delta removed a mistakenly posted comment on X Wednesday because it was not in line with our values and our mission to connect the world," a Delta ...Read more