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Digital ads represents half of U.S. advertising sales for the first time, report says

Business / Business News /

Advertisers are spending more money on online sites like Google and Facebook, pushing digital ads to represent more than half of U.S. ad sales for the first time, according to a report released Thursday.

This year, the nation's advertisers will spend $106 billion in digital ads, up 16 percent from a year ago, according to Magna, a division of ...Read more

Adobe to acquire San Mateo's Marketo for $4.75 billion

Business / Business News /

In an effort to expand its cloud-based marketing business, Adobe Systems said Thursday it will acquire San Mateo-based Marketo for $4.75 billion.

Marketo specializes in digital marketing software for businesses. The company's software is used by businesses to keep track of what customers do online so that they can deliver more personalized ...Read more

Embattled Wells Fargo plans to slash thousands of jobs

Business / Business News /

Wells Fargo expects to slash its employment by about 5 to 10 percent over the next three years, as part of a sweeping initiative to streamline the bank and make it more customer-focused, CEO Tim Sloan said Thursday.

The reduction would involve job cuts as well as attrition, Sloan said in a press release. Wells Fargo is based in San Francisco ...Read more

Quarries are flooded, Walmarts are closed, but Butterball says Thanksgiving turkeys are OK

Business / Business News /

Billions of gallons of water have flooded five of Martin Marietta's quarries in Eastern North Carolina, by far the worst flooding the company has experienced in the past two decades of major hurricanes, said eastern district general manager Buzz Crosby.

"The Castle Hayne quarry is basically part of the Cape Fear River system now," Crosby said. ...Read more

Delta raises its baggage fees to $30 for a first bag and $40 for the second

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Delta Air Lines has quietly raised the checked-bag fees on its U.S. flights, joining competitors that have also recently done so.

The Atlanta-based airline posted new rates of $30 for a passenger's first checked bag and $40 for a second bag, each marking a $5 increase over the previous fees.

In late August, both United Airlines and JetBlue ...Read more

Hard seltzers on the rise, sold as a 'better-for-you' way to catch a buzz

Business / Business News /

Hard seltzers, the feistier cousins of nonalcoholic sparkling waters like LaCroix, are surging in popularity -- a small but growing reason for optimism within the flagging beer industry.

Flavored malt beverages, driven by the explosive growth of hard seltzer sales, are one of the fastest growing segments within beer and are helping to offset ...Read more

Cargill recalls more beef on E.coli worries from Colorado plant tied to previous recall

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Cargill Inc. is recalling more than 132,600 pounds of ground beef possibly contaminated with harmful E. coli bacteria that food-safety investigators believe has already caused 17 illnesses and one death.

The beef originated at a Cargill slaughterhouse in Fort Morgan, Colo., the same site linked to another potential E. coli contamination that ...Read more

'Completely false': Wells Fargo denies report it considered dumping its CEO

Business / Business News /

Wells Fargo's chairwoman is denying a report that the bank's board considered replacing CEO Tim Sloan, following a news story Wednesday that board members met this year with the former president of Goldman Sachs to discuss that possibility.

The New York Post reported that Gary Cohn and board members met at least once around March or April but ...Read more

Real estate Q&A: Can neighbor make me remove gravel path between our properties?

Business / Business News /

Q: I live in a gated community with zero lot lines between houses. About 12 years ago, I asked my neighbor if he would be interested in putting a gravel path from the front to the back between our properties, as it is impossible to grow grass in this shaded area and it got muddy. His response was: "Do whatever you want. I never go on that side ...Read more

Chicago ZIP code is the millennial capital of America

Business / Business News /

CHICAGO--Chicago's West Loop is the place to live if you're a millennial.

According to U.S. Census population estimates, 73 percent of West Loop residents (6,800 people) are millennials. California-based apartment search website RENTCafe.com analyzed the data, ranking ZIP codes in the country's 30 largest U.S. cities. And the West Loop -- ZIP ...Read more

Van life: My 80-square-foot solution to the Bay Area housing crisis

Business / Business News /

SAN JOSE, Calif. -- It's here! The big white van I spent my life savings to convert into a comfy studio apartment on wheels, with not just one but two showers, has finally arrived.

I absolutely love it, even more than I thought I would when I conceived the project as my personal 80-square-foot solution to the Bay Area's affordable housing ...Read more

Venezuelan-born developer to buy site of never-built Trump Tower on Philly waterfront

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PHILADELPHIA -- Developer Carlos Herrera, who came the United States from Venezuela as a teenager, is under contract to buy the pier on the Delaware River waterfront where a Trump Tower Philadelphia had been planned before the last economic downturn.

Herrera's company, Herrco Builders, is set to build 41 townhouses on Pier 35 1/2 under a plan ...Read more

Bezos says he will invest $1 billion in Blue Origin rocket program

Business / Business News /

Jeff Bezos will invest "just over $1 billion" next year in Blue Origin's New Glenn rocket program, and the company will fly people to space "this coming year," the Amazon.com Inc. chief executive said Wednesday.

Speaking at the Air Force Association's Air, Space and Cyber Conference in National Harbor, Md., Bezos said a "big team of people" ...Read more

3 charged with running $345 million Ponzi scheme

Business / Business News /

The Securities and Exchange Commission said Wednesday that it froze the assets of a $345 million investment fund, alleging that it was a Ponzi scheme that used money from hundreds of investors across the United States.

An SEC complaint alleged that Kevin B. Merrill, Jay B. Ledford and Cameron Jezierski attracted investors to their scheme by ...Read more

Ticketmaster schemes with scalpers so you pay more, report says

Business / Business News /

Scalpers using bots to scoop up huge numbers of tickets to resell at much-inflated prices have become a curse for the concert-going public. Shows can sell out in moments, with thousands of tickets appearing on reseller websites minutes later.

So what is Ticketmaster, the largest player in the ticketing industry, doing about a problem afflicting...Read more

Bank of America fined for interest rate manipulation

Business / Business News /

CHARLOTTE, N.C. -- A federal regulator said Wednesday that it fined Bank of America $30 million to settle charges that it attempted to manipulate global interest rates and that it knowingly filed false reports in an alleged scheme that spanned six years.

The Commodity Futures Trading Commission said the charges brought against the Charlotte-...Read more

Amazon is considering opening 3,000 cashierless Go stores, report says

Business / Business News /

SEATTLE -- Amazon Go grew from a single convenience store to four over eight months. A report Wednesday suggests that the retail giant is considering a much faster pace of expansion.

Bloomberg reported that the Seattle company is considering a plan to open as many as 3,000 Amazon Go convenience stores by 2021. That would be an immediate ...Read more

Cable, satellite companies add Newsmax TV

Business / Business News /

Cable and satellite companies are adding Newsmax TV, a conservative news channel owned Christopher Ruddy, a friend of President Donald Trump, greatly expanding its reach.

The channel will pick up 10 million Xfinity customers, Xfinity parent Comcast and Newsmax said.

Launched by Ruddy as an online news service in 1998, Newsmax -- a mix of ...Read more

AutoNation CEO Mike Jackson to step aside

Business / Business News /

Mike Jackson, the 20-year CEO of AutoNation Wednesday announced his planned transition to executive chairman.

The company board will begin a search for a new CEO and president next year, he said.

In an interview on CNBC, Johnson said: "The company is in great shape. It's a good time for me to hand over the baton."

The largest U.S. retailer ...Read more

Trump talks less about trade deficits

Business / Business News /

WASHINGTON –– President Donald Trump built his trade policy on an obsession with cutting fat U.S. deficits with China, Mexico, Europe and others.

But for weeks, Trump has barely mentioned that once-singular economic focus. He has written no Twitter posts about trade deficits since July. And the subject was conspicuously missing from his ...Read more