Business

/

ArcaMax

Curaleaf to acquire Grassroots Cannabis for $875 million, expanding its national reach

Business / Business News /

CHICAGO -- Grassroots Cannabis is set to be acquired for $875 million, becoming the latest Chicago-based marijuana company to draw a blockbuster price tag from an out-of-state operator.

Curaleaf Holdings, based in Massachusetts, announced Wednesday morning its plan to acquire Grassroots.

The acquisition will allow Curaleaf to expand its ...Read more

Trump expressed concerns about Pentagon cloud-computing contract

Business / Business News /

WASHINGTON -- President Donald Trump recently demanded more information about how the Pentagon crafted a massive cloud-computing contract it's poised to award to Amazon.com Inc. or Microsoft Corp., in order to decide whether he should intervene.

The Defense Department is set to give the contract, worth as much as $10 billion over ten years, to ...Read more

Glucose monitors, other device sales lift profit at Abbott Labs

Business / Business News /

While its medical-device franchise is growing at a healthy rate overall, Abbott Laboratories is working quarter by quarter to unlock the growth potential of the devices it acquired from Minnesota's St. Jude Medical two years ago.

"I remember in my discussions with (former St. Jude Medical CEO) Dan Starks when we were negotiating over the ...Read more

US Bancorp customers embrace digital banking, helping company's profits

Business / Business News /

MINNEAPOLIS -- The growing digital savvy of U.S. Bancorp's customers is starting to pay off for the nation's fifth-largest bank.

In its latest quarterly results released Wednesday, U.S. Bank said one-third of its loan sales happened via its website and mobile app this spring, up from one out of four a year ago. With home mortgages, the change ...Read more

Tech Q&A: Why your phone shouldn't go swimming

Business / Business News /

On a lake trip over July 4th weekend, my daughter's iPhone 7 Plus ended up taking a dive. It was found in about 3 feet of water 24 hours later, still working but with some permanent damage. The experience provided a few lessons.

Immersion in water used to ruin a cellphone. That's less true today because many newer phones are "water-resistant" (...Read more

Three Mile Island's 60-year shutdown: 'More akin to a marathon than a sprint'

Business / Business News /

The Three Mile Island Unit 1 nuclear reactor shutdown, which is set to begin no later than Sept. 30, will take nearly 60 years and $1.2 billion to complete.

The Nuclear Regulatory Commission (NRC) is outlining Exelon Generation's plans to decommission TMI Unit 1, whose closure was announced in May after it became clear that the Pennsylvania ...Read more

Bank of America sees record profits, but warns of impact of possible interest rate cut

Business / Business News /

Bank of America had a record first half of the year for profit, but warned of oncoming headwinds from lower interest rates.

The bank, which has its headquarters in Charlotte, reported Wednesday that its profit was $7.3 billion in the second quarter, surpassing analysts' expectations. It's an increase of 8% from the same period last year.

Its ...Read more

'Lion King' to bolster Disney's box office dominance

Business / Business News /

LOS ANGELES -- The Walt Disney Co. doesn't have to wait to be king, unlike the little cub Simba. But the release of its latest remake, "The Lion King," should further cement the company's rule at the box office.

Disney's high-tech re-imagining of its 1994 animated hit is expected to lord over the multiplex once it hits theaters Thursday night. ...Read more

Berkeley bans natural gas piping in new buildings

Business / Business News /

BERKELEY, Calif. -- Berkeley, Calif., will ban natural gas piping for stoves or water heaters in new buildings at the start of 2020, becoming the first city in the state to require new construction to be all-electric.

Berkeley city council voted unanimously Tuesday to approve the ordinance, which prohibits developers from applying for land ...Read more

As temperatures soar, a new federal bill aims to protect those who must work during extreme heat.

Business / Business News /

CHICAGO -- As temperatures soar this week with an excessive heat watch starting Thursday, James McHugh Construction Co. has a protocol for teaching workers how to handle and prevent heat-related injuries.

"The heat has a cumulative effect on everyone. It wears workers out. So we talk to every worker on how to identify those who are fatigued, ...Read more

Qualcomm gets support from Justice Department, others in antitrust appeal

Business / Business News /

The U.S. Department of Justice and other federal agencies have weighed in to support Qualcomm's efforts to put antitrust sanctions on hold pending appeal, claiming immediately imposing the stiff requirements could harm national security.

In a filing Tuesday with the U.S. Ninth District Court of Appeals, the Department of Justice said it had an ...Read more

'Poor, smart and desperate to be rich': How Epstein went from teaching to Wall Street

Business / Business News /

MIAMI -- Before Jeffrey Epstein managed money for the world's rich and powerful, he was educating their teenage children.

Epstein, the accused sex trafficker awaiting a bail ruling in a Manhattan jail, taught math and physics at the Dalton School, a private K-12 institution whose students are the sons and daughters of New York City's elite. It ...Read more

Pet leasing is real and can catch owners by surprise. New Jersey lawmakers want to ban it

Business / Business News /

Scott and Patricia Smith were looking for a new furry friend at a Middletown, N.J., pet store when they found Chase, a fluffy white Maltese.

It was June 2018, five months after their last dog died, and they quickly fell in love with the pup who curled up in Scott's lap. With the decision made, Scott gave his debit card to pay $3,000 for the dog...Read more

Oil refiners racing Congress to protect butane loophole

Business / Business News /

WASHINGTON -- For more than a decade, oil refiners didn't realize what a moneymaker they had in butane -- at least for tax purposes.

They do now.

Over the last few years, the IRS has seen an avalanche of amended excise tax forms from the industry. Their claim is that butane, a liquefied petroleum gas and byproduct of the oil refining process, ...Read more

Consumer Confidential: Alexa may be key to Amazon's looming domination of the healthcare market

Business / Business News /

Alexa, how do I become a healthcare player?

Amazon announced its latest move in this direction last week by introducing a feature that allows British users of its Alexa digital assistant to ask for medical advice, with answers provided by Britain's National Health Service. For example: "Alexa, how do I treat a migraine?"

American Alexa users ...Read more

Google denies ties to Chinese military after Peter Thiel's accusation

Business / Business News /

Google is pushing back against Peter Thiel's insinuation that the company is doing business with China's military after President Donald Trump tweeted Tuesday that his administration will "take a look."

Thiel, the tech industry's most high-profile Trump supporter, questioned Google's loyalty to the United States during a speech Sunday at the ...Read more

Target hires Facebook exec to lead IT operations

Business / Business News /

Target Corp. has hired Facebook executive Hari Govind as senior vice president of infrastructure and operations, landing a high-profile tech veteran at a time when technology is becoming increasingly vital to the retailer's operations.

Govind has more than 20 years of experience leading engineering and product management teams, and has ...Read more

Wells Fargo reports higher profits, flat revenue amid CEO search

Business / Business News /

Wells Fargo reported higher profits but flat revenue in the second quarter of 2019 as the bank works to combat public scrutiny over a series of scandals.

The bank topped analysts' estimates, reporting a profit of $6.2 billion in the second quarter of 2019, a 19% increase from the previous year. But its revenue of $21.6 billion stayed the same. ...Read more

Nearly 1 million South Florida workers face automation. Here's who will survive.

Business / Business News /

Whether by bot or by byte, nearly 1 million South Florida jobs are at risk of being automated, according to a new report from consulting giant McKinsey.

But even as some jobs disappear, others will be created. And the survivors could be left better off.

McKinsey estimates that the Miami metropolitan statistical area (MSA), which includes Miami...Read more

 

Social Connections

Comics

Carpe Diem Dustin Reply All Bob Gorrell Daddy Daze Lee Judge