Bank of America picks Dublin for EU base following Brexit

Business / Business News /

CHARLOTTE, N.C. -- Bank of America announced Friday that Dublin will be the new base for its European Union operations following Britain's decision last year to split from the EU.

Brian Moynihan, CEO of the Charlotte-based bank, made the announcement during a trip to the Irish capital city. The company becomes the latest large U.S. bank in ...Read more

Lyft to build its own self-driving technology, open lab in Palo Alto

Business / Business News /

SAN FRANCISCO -- Lyft said on Thursday it will develop its own autonomous driving technology and open a laboratory in the Silicon Valley city of Palo Alto to help build the hardware and software.

Lyft's plan to build in-house self-driving technology is a pivot from what has been a strategy of primarily focusing on building partnerships with car...Read more

The Week Ahead: Facebook's slower-growth future may be here

Business / Business News /

The future for Facebook will arrive when it reports its second-quarter financial results on Wednesday in the week ahead. A year ago, the social media giant gently began to warn shareholders not to expect its monster revenue growth to continue. In the language of Wall Street, sales growth would be decelerating.

Why? Because Facebook has reached ...Read more

Mark Phelan: New Accord, Camry struggle for relevance as sedan sales plummet

Business / Business News /

Honda unveiled its all-new 2018 Accord sedan in midtown Detroit earlier this month, perfectly timed to challenge the new 2018 Toyota Camry for supremacy in midsize sedan sales.

If that excites you about as much as a pair of 1970s arena-rock bands announcing their eighth farewell tour, congratulations: You're not a baby boomer.

For a generation...Read more

Under the Hood: How to perform voltage drop testing

Business / Business News /

Q: The left taillight on my pickup is somewhat dimmer than the one on the right side. It's not bad enough to go through the trouble and expense of having fixed it. But it bugs me. Any chance you have some tips about making this go away? I changed the bulb a few months ago, and that didn't help.

-- Eric J.

A: Your question presents a great ...Read more

Landing Foxconn in Wisconsin could take hundreds of millions of dollars in incentives

Business / Business News /

MADISON, Wis. -- Attempts to lure Taiwanese manufacturer Foxconn to southeastern Wisconsin could involve hundreds of millions of dollars in incentives, a state senator said Thursday.

Sen. Luther Olsen, a Republican, said he wants to hold off on passing the state budget until lawmakers know more about what it would take to get Foxconn Technology...Read more

Study: More US households renting than at any point since 1965

Business / Business News /

More U.S. households are headed by renters than at any point since 1965, according to a new Pew Research Center study based on data from the Census Bureau.

The number of renters has "increased significantly" in the past decade, and those less likely to rent, such as whites and the middle-aged, have grown more likely to rent in recent years, the...Read more

AlphaBay sold drugs, guns and hacking tools online — until a sting operation shut it down

Business / Business News /

Two so-called "dark Web" sites dedicated to illegal drug and arms sales have been seized in an audacious sting operation, and the suspected ringleader has committed suicide, U.S. Justice Department officials said Thursday.

Alexandre Cazes, a 25-year-old man from Quebec who was suspected of creating an illegal online marketplace called AlphaBay,...Read more

Microsoft's results beat analysts' forecasts as profit more than doubles

Business / Business News /

SEATTLE -- Microsoft's quarterly profit more than doubled as the company's cloud-computing products continued to gain traction.

The three months that ended in June brought another jump in sales of Microsoft's portfolio of business software, which includes its subscription-based version of Office and the Azure platform of on-demand computing ...Read more

Sign of surrender? Sears agrees to sell Kenmore brand on

Business / Business News /

SEATTLE -- In what appears to be a major sign of surrender to the reigning champion of e-commerce, ailing Sears, the one-time king of retail, has agreed to sell Kenmore appliances on

The news, announced Thursday, underscores the extent to which Amazon has left seemingly invincible traditional retailers in the dust.

Sears, founded ...Read more

US ends airline laptop ban; new security measures make the electronics OK to carry on

Business / Business News /

New security measures added at international airports now allow laptop computers, tablets and other large electronic devices in the cabins of flights to the United States, the Department of Homeland Security announced Thursday.

The federal agency that oversees airline security declined to detail the new security measures but confirmed that the ...Read more

At O'Hare, some passengers undergo face scans in test of security program

Business / Business News /

CHICAGO -- Starting this month, passengers on some international flights from O'Hare airport have been getting their pictures taken before boarding as part of a new U.S. security program that utilizes facial-recognition technology.

The program, run by U.S. Customs and Border Protection, aims to ensure the right person is getting on an ...Read more

British secretary of state still mulling Fox's $15 billion bid for Sky

Business / Business News /

LOS ANGELES -- Suspense is building in Britain over whether the Murdoch family will be able to pull off its long-held dream of owning a jewel of European broadcasting, the satellite television service Sky.

Britain's secretary of state for culture, media and sport, Karen Bradley, on Thursday told members of Parliament that she needed more time ...Read more

A-B expands non-alcoholic lineup by acquiring Hiball energy, sparkling drinks

Business / Business News /

ST. LOUIS -- Anheuser-Busch is acquiring Hiball Inc., a maker of energy drinks and carbonated juice beverages, as the brewer continues to expand its portfolio beyond beer.

A-B InBev, which has its U.S. headquarters in St. Louis, said the Hiball Energy and Alta Palla sparkling juice brands will benefit from the brewer's brand-building experience...Read more

Amazon's newest partner: Sears

Business / Business News /

CHICAGO -- Sears is calling on Amazon to help it sell more Kenmore appliances.

The embattled retailer announced Thursday it will begin selling its full line of Kenmore appliances on Amazon, significantly expanding distribution of one of the retailer's best-known brands. In the Chicago area, where Sears is headquartered, Kenmore goods will be ...Read more

PPG sales flat, but income beats estimates

Business / Business News /

PITTSBURGH -- PPG said second-quarter sales edged up by about 1 percent to $3.8 billion on slightly higher prices for its paints. But the global coatings maker said overall volumes were flat and it continued to take a hit from unfavorable foreign exchange rates.

Analysts expected sales of $3.9 billion.

Shares in Pittsburgh-based PPG were down ...Read more

Real estate Q&A: Homeowners need permits to cut down trees in their own yards

Business / Business News /

Q: Last week as I was about to cut down a tree in my yard that was dumping leaves into my pool, my neighbor came running out of his house to tell me I could be in trouble for doing this without our town's permission. I held off because he was so insistent. Is this true?

-- Harry

A: Be sure to thank your neighbor because he probably saved you ...Read more

Kwik Trip will buy 34 PDQ stores, pushing total store count above 600

Business / Business News /

MILWAUKEE -- Kwik Trip Inc. has agreed to buy 34 PDQ convenience stores, a move that will push Kwik Trip's overall store count above 600.

La Crosse, Wis.-based Kwik Trip said Wednesday that it has signed an agreement to acquire the assets of employee-owned PDQ Food Stores, of Middleton, Wis., for an undisclosed price.

The purchase will give ...Read more

T-Mobile's 2Q revenue climbs 10 percent as profit doubles

Business / Business News /

SEATTLE -- T-Mobile US added 1.3 million customers during its second quarter, continuing its rapid growth as more consumers switch to what the company calls its Uncarrier model.

The telecom, based outside Seattle, reported second-quarter revenue of $10.1 billion, up 10 percent from the year-ago period and beating analyst estimates.

T-Mobile ...Read more

McCormick $4 billion deal could spur global growth of iconic mustard and hot sauce brands

Business / Business News /

BALTIMORE -- McCormick & Co.'s stock price dropped more than 5 percent Wednesday morning amid concerns that the spice giant will overpay for the chance to fold iconic brands Frank's RedHot Hot Sauce and French's Mustard into its vast spice and flavorings portfolio.

McCormick, based outside Baltimore, announced late Tuesday it plans to acquire ...Read more

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