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Hong Kong vies with US in Bitcoin ETF market after crypto's revival

Business / Business News /

A batch of exchange-traded funds investing directly in crypto will debut in Hong Kong on Tuesday, heralding potential competition for US Bitcoin products whose popularity stoked a record rally in the digital asset.

Harvest Global Investments Ltd., the local unit of China Asset Management, and a partnership between HashKey Capital Ltd. and ...Read more

Wang Ye/Xinhua/Zuma Press/TNS

Tesla soars on tentative China approval for driving system

Business / Business News /

Elon Musk’s quick visit to China paid immediate dividends, with Tesla Inc. receiving in-principle approval from government officials to deploy its driver-assistance system in the world’s biggest auto market.

The U.S. carmaker was granted the approval under certain conditions, according to a person with knowledge of the matter, who asked not...Read more

Jason Mendez/Getty Images North America/TNS

Bob Bakish is ousted as CEO of Paramount Global

Business / Business News /

Paramount Global CEO Bob Bakish was ousted Monday after a bitter falling out with the media and entertainment company’s controlling shareholder, Shari Redstone.

The company, which owns CBS, Nickelodeon, MTV and the Hollywood studio Paramount Pictures, said a consortium of three high-ranking Paramount entertainment executives would run the ...Read more

Jim Watson/Getty Images North America/TNS

May Fed meeting preview: Are rate cuts canceled or just delayed? Watch for these 3 key themes as inflation stays hot

Business / Business News /

At the start of the year, the nation’s top economists thought the Federal Reserve would be using its May rate announcement to tee up the first cut of its fiercest inflation-fighting regime in 40 years.

Now, as inflation stays more stubborn than expected, they’re wondering whether those cuts are delayed — or completely canceled.

It’s ...Read more

Jason Armond/Los Angeles Times/TNS

Hollywood's crew union negotiations have gone well so far. Now the hard part begins

Business / Business News /

In a departure from the labor rebellions that roiled Hollywood last year, the latest set of contract negotiations between a major entertainment union and the top studios has unfolded about as smoothly as could be expected. So far.

The various West Coast studio locals that make up the International Alliance of Theatrical Stage Employees, which ...Read more

Anthony Souffle/Star Tribune/TNS

Friends split a mortgage, share a home to beat high housing costs

Business / Business News /

Sara Kemper and Betsy Ohrn have been besties since first grade, so they've shared a lot through the years: even the mortgage on a St. Paul house that's much larger and grander than anything they could have afforded individually.

"We needed something we could grow into," said Kemper, recalling the house-shopping wish list she, Ohrn and their ...Read more

Joe Cavaretta/South Florida Sun-Sentinel/TNS

'Bad for business': Homeless hot spots in Fort Lauderdale not a good look, critics say

Business / Business News /

Local entrepreneurs have a message for Fort Lauderdale, Florida: The city’s homeless crisis is bad for business — and getting worse.

The complaints take on a new urgency in light of a new state law that bans homeless people from sleeping in public. The new law, which goes into effect in October, also paves the way for critics to file ...Read more

Myung J. Chun/Los Angeles Times/TNS

Bird flu's disturbing new turn into cattle

Business / Business News /

U.S. health officials are closely monitoring the recent leap of avian flu from birds to cattle — and earlier this month, to a Texas dairy farmer.

The Centers for Disease Control and Prevention stresses the current public health risk is low — the virus isn’t known to spread among people or through the food supply, is rarely caught from ...Read more

Dreamstime/Dreamstime/TNS

Erin Lowry: Your retirement anxiety can't be cured online

Business / Business News /

The often-cited goal of having a $1 million retirement nest egg needs to be retired itself. Adjusted for inflation, it would take nearly $1.9 million to have the same purchasing power today as in 1999, when the oldest of millennials were just turning 18. Granted, $1 million still sounds like a lofty sum to many Americans, which could be why so ...Read more

Natrice Miller/The Atlanta Journal-Constitution/TNS

Rivian: 'We are not abandoning Georgia'

Business / Business News /

Executives for electric vehicle maker Rivian said Saturday the company remains committed to building a massive manufacturing plant 60 miles east of Atlanta despite a recent pause on construction.

The company recently pivoted its plans and is ramping up production of its new R2 SUV at its plant in Normal, Illinois. This caused some state ...Read more

Natron Energy/TNS

Sodium batteries from Michigan to challenge lithium's grip

Business / Business News /

Modern life runs on lithium-ion batteries, powering smartphones, laptops and electric cars alike. But as dominant as they’ve become, there are other ways to build a battery.

Natron Energy Inc. will unveil what it bills as the first full-scale plant in the U.S. for making sodium-ion batteries on Monday. The plant situated near Michigan’s ...Read more

Alan Crosthwaite/Dreamstime/TNS

Motormouth: Can I use flex fuel?

Business / Business News /

Q: What's with this new eco-friendly gas blend with the yellow handle? Will it harm a non-flex fuel engine? It's 50 cents cheaper.

R.M., Elbert, Colorado

A: According to the U.S. Department of Energy, Energy Efficiency and Renewable Energy division, E85 (or flex fuel) is a term that refers to high-level ethanol-gasoline blends containing 51% ...Read more

Alain Jocard/AFP/Getty Images North America/TNS

Musk makes surprise China visit in search of Tesla revenue boost

Business / Business News /

Tesla Inc.’s Elon Musk made an unannounced trip to China on Sunday, seeking approval for driver-assistance software that could help arrest the carmaker’s revenue decline.

The Tesla chief executive officer met with Premier Li Qiang, who as the Chinese Communist Party secretary for Shanghai helped the company set up what is now its top plant ...Read more

Alejandro A. Alvarez/The Philadelphia Inquirer/TNS

Hackers may have accessed Inquirer subscriber and employee personal data in 2023 cyberattack

Business / Business News /

About 25,500 Philadelphia Inquirer subscribers, employees, former employees, and employees’ family members on company benefit plans may have had their personal information exposed in a May cyberattack, Inquirer publisher and chief executive officer Lisa Hughes said Friday.

The company announced in an internal email to employees that outside ...Read more

Boeing buys Missouri factory, saving 550 jobs

Business / Business News /

HAZELWOOD, Missouri — Boeing’s defense arm announced Friday it has reached a deal to buy a key supplier, saving a north St. Louis County factory that had threatened to wind down operations by the end of the year but which Boeing said was critical to the production of its fighter jets.

Boeing said it will take over the GKN Aerospace site and...Read more

Thos Robinson/Getty Images North America/TNS

Jassy, Bezos, other Amazon execs used Signal messaging app, a problem for FTC

Business / Business News /

The Federal Trade Commission wants to know more about how Amazon — and its executives — use the encrypted messaging app Signal.

The agency accused Amazon of using the app, which can be set to automatically delete messages, to hide information related to the FTC’s ongoing antitrust investigation into the company. After a years-long probe ...Read more

Kevin Dietsch/Getty Images North America/TNS

Michael Hiltzik: After a years-long pause, the FCC resurrects 'network neutrality,' a boon for consumers

Business / Business News /

In the midst of its battle to extinguish the Mendocino Complex wildfire in 2018, the Santa Clara County Fire Department discovered that its internet connection provider, Verizon, had throttled their data flow virtually down to zero, cutting off communications for firefighters in the field. One firefighter died in the blaze and four were injured....Read more

Jerry Jackson/Baltimore Sun/TNS

Baltimore businesses sue Dali owners for negligence in Key Bridge collapse

Business / Business News /

BALTIMORE — A Baltimore publisher is suing the companies behind the massive cargo ship that collapsed the Francis Scott Key Bridge last month, saying they were negligent for allowing an allegedly unseaworthy ship to sail ahead of the catastrophic crash that killed six people.

American Publishing LLC, based in Essex, filed the proposed class ...Read more

Michael M. Santiago/Getty Images North America/TNS

Union with little inroads at banks tries to organize Wells Fargo workers in Charlotte

Business / Business News /

On a recent Friday, more than 20 labor activists stood outside Wells Fargo operations in uptown and the university area of Charlotte, North Carolina, passing out flyers to employees about their right to form a union — a move sure to displease the bank bosses.

One picture on the flyer showed a group of smiling workers in Apex, the first North ...Read more

Nhat V. Meyer/Bay Area News Group/TNS

LA court strikes down controversial California law abolishing single-family zoning

Business / Business News /

A controversial housing law that abolished single-family zoning across California has been ruled unconstitutional by a Los Angeles County judge — but the narrow ruling is likely to be appealed by the state.

Passed in 2021, SB 9 allows single-family homeowners to split their lots in two and build two homes on each lot — allowing up to four ...Read more