Amazon to raise some workers' pay again after outcry on $15 minimum-wage plan

Business / Business News /

SEATTLE -- Amazon says it is making adjustments to its wage plan to ensure warehouse workers receive the pay bump they were told was coming when the company promised a $15-an-hour minimum wage.

The company won plaudits from politicians and labor groups when it said it would set a higher starting wage for hourly logistics and customer-service ...Read more

Analysis: Trump's hardball tactics may win trade battles while losing the loyalty of allies

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WASHINGTON -- Shortly after Canada agreed to new terms for the North American Free Trade Agreement, the Trump administration held up the deal as vindication of the president's bare-knuckles negotiating style.

And the administration was certainly right about the tactics: During 13 months of talks, Trump imposed hefty tariffs on Canadian and ...Read more

Seattle construction boom means lots of empty apartments, even some cheaper rents

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SEATTLE -- It's getting easier to find an apartment to rent, and in some neighborhoods it's even getting cheaper.

Seattle-area renters are enjoying the least competitive market since the recession as more and more apartments sit empty and rents have flatlined -- a trend that is likely to continue as the ongoing apartment-construction spree ...Read more

Microsoft partners with professional cricketer to make smart bat technology

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Microsoft is teaming up with prominent Indian athlete Anil Kumble to debut a cricket bat that can track batting analytics in real-time, and send them straight to fans.

Kumble on Thursday announced the Power Bat, a bat equipped with an internet-connected sensor that communicates with a receiver buried in the cricket pitch and analyzes data ...Read more

University of Michigan researchers to use algae to make diesel fuel

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ANN ARBOR, Mich. -- The vial of fuel that Andre Boehman and Bradley Cardinale are trying to fill would fit four times into a two-liter bottle of Faygo Redpop.

The University of Michigan professors and their team will try to do this for $2.5 million, most of it from a U.S. Department of Energy grant.

When they've finished the project in three ...Read more

Michael Hiltzik: The plummeting Dow teaches Trump about the folly of bragging on a stock market rise

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President Trump may have been unaware of this, but there's a reason that smart presidents steer clear of boasting about stock market returns during their tenures: It's because the stock market has a way of biting braggarts in their most tender spots.

For Trump, that spot is his amour-propre. On Wednesday, the stock market took dead aim on that ...Read more

Turn schools into teacher housing? Unique idea sparks backlash in Bay Area community

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SAN JOSE, Calif. -- A local school district's unique idea to turn schools into teacher housing -- an attempt to tackle the region's dire housing shortage and retain fleeing instructors -- is colliding with a massive backlash from neighborhood residents.

The San Jose Unified School District has identified nine district-owned properties where it ...Read more

In a rarity, Los Angeles strips building from rent control, leaving tenants facing big increases

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LOS ANGELES -- In November, Californians will go to the polls to decide whether to give cities the option of sharply expanding protections against steep rent increases. But as tenants at a 38-unit Tarzana apartment complex recently discovered, it's also possible to have existing rent controls revoked.

The property on Reseda Boulevard fell under...Read more

Blue Origin wins $500 million Air Force contract for development of New Glenn rocket

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Jeff Bezos' Blue Origin won a $500 million U.S. Air Force contract for development of its New Glenn rocket, marking a major vote of confidence by the U.S. military in the Kent, Wash., space company.

Blue Origin was one of three companies to win an Air Force contract award under the Evolved Expendable Launch Vehicle program, which intends to ...Read more

Frank Stronach sues his daughter Belinda in family battle over racetrack empire

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LOS ANGELES -- An internal family struggle for control got considerably uglier when Frank Stronach, founder and honorary chairman of Stronach Group, filed suit against his daughter Belinda Stronach, chairman and president, alleging she has mismanaged the family assets and trust funds and pushed him out of any control of the company.

Santa Anita...Read more

James Murdoch reportedly in line to replace Musk as chairman of Tesla board

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James Murdoch, already a member of Tesla's board of directors, has been identified by London's Financial Times as the candidate favored to replace Elon Musk as chairman of the electric car maker.

Under a Sept. 29 settlement reached with the U.S. Securities and Exchange Commission over a Musk tweet that falsely claimed he had "funding secured" ...Read more

Kushner family selling Chicago office tower

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CHICAGO -- The real estate company owned by the family of presidential son-in-law and White House adviser Jared Kushner is selling a 30-story office tower in downtown Chicago that came under scrutiny earlier this year when it was refinanced.

Kushner Cos. has agreed to sell the building at 225 W. Randolph St. to a group that includes New York-...Read more

MBA applications down at U of Chicago, Northwestern as economy booms and international students stay home

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Applications to MBA programs at the University of Chicago, Northwestern University and other elite schools are down for the first time in years, thanks to a booming economy and waning interest from international students.

The 9-year-old bull market -- a potential disincentive to pursue graduate business studies -- paired with tightening ...Read more

Katzenberg's NewTV reveals official new name: Quibi

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Jeffrey Katzenberg's new venture into streaming short bursts of video has a new name: Quibi.

It's short for quick bites of video, which the Los Angeles company hopes to roll out in a new platform in U.S. and Canada next year. Previously, the company went by NewTV.

Katzenberg and longtime tech executive Meg Whitman have raised $1 billion for ...Read more

Justice Department approves $69-billion merger between CVS Health and Aetna

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CVS Health Corp.'s plan to buy Aetna Inc. for $69 billion was cleared by U.S. antitrust regulators Wednesday, paving the way for the nation's largest pharmacy chain to acquire one of the largest healthcare insurers.

The deal was approved because Aetna has agreed to sell its Medicare prescription-drug business, or Medicare Part D, to WellCare ...Read more

Cell therapy, now artisanal and costly, heads for mass production

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Not so long ago, manipulating living cells to serve as therapies was a difficult and mysterious art. Only a few biomedical companies and academic labs could claim proficiency.

But in recent years, there's been an explosion of knowledge about how cells work, how they can become diseased and how they can be cured. Three groundbreaking cell and ...Read more

Tech giants IBM, Intel fund new blockchain laboratory at UC San Diego

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SAN DIEGO -- Tech giants are funding the launch of a research lab at UC San Diego to unravel the mysteries around blockchain, a new way of writing software that's sweeping industries around the globe.

The new academic center is called BlockLAB, and it includes about 20 individuals who will be digging into the technical, legal and business ...Read more

Snapchat launches original TV shows tailored to mobile audiences

Business / Business News /

Fall is here and the curtain is going up on new TV shows, ranging from mystery stories with young female tech-savvy crime-solvers, to reality shows following the lives of emerging drag queens and social media stars.

You might expect to find such fare on the CW or an edgy, youth-oriented cable channel. Instead, they are among more than a dozen ...Read more

After 30 years in Murdoch's empire, Peter Rice faces new challenges in Disney's kingdom

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For three decades, Peter Rice has climbed his way up the corporate ladder of Rupert Murdoch's entertainment empire, establishing himself as part of the clan in every way but his name. Through his rise, he oversaw the release of Oscar-winning films and led a television production juggernaut.

But the low-key Rice will face his biggest test yet as...Read more