Business
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They all started companies. Some from wheelchairs
ATLANTA -- The entrepreneurs who arrived for the awards ceremony in a vast Cobb County ballroom wore tuxedos and gowns, suits and vibrant colors. One woman sported an eye patch with a sparkly skull and cross bones, like a glam pirate.
Some rolled in on wheelchairs, relied on canes, or covered their feeding tubes with their evening wear.
...Read more
Room & Board transfers ownership to employees with stock plan
Minnesota-based Room & Board has given its employees a seat at the table and transitioned the furniture company to an employee stock ownership plan.
The move provides Room & Board's 1,100 employees, who are mostly showroom salespeople, with financial stakes in the retailer.
"Our 1,100 staff members have been key to our success," said Bruce ...Read more
Electric vehicle 'workforce hub' coming to Michigan, White House says
WASHINGTON — Michigan will be among four new "workforce hubs" designated to help prepare workers for new manufacturing jobs, the White House said Thursday. The Michigan hub will focus specifically on electric vehicles.
The effort — a collaboration between federal and state agencies — is meant to train or retrain workers through ...Read more
California bill that could change how companies insure, renew policies moves forward
A bill that would require insurers to factor in wildfire protection efforts when determining whether to cover properties moved forward Wednesday, despite concerns from lawmakers and strong opposition from insurance companies.
Sen. Josh Becker, a Democrat who represents the Menlo Park area, said during a hearing that the proposal will help ...Read more
Microsoft sales, profit beat expectations on AI demand
Microsoft Corp.’s quarterly sales and profit climbed more than projected, lifted by corporate demand for the software maker’s cloud and artificial intelligence offerings.
Revenue in the third quarter, which ended March 31, rose 17% to $61.9 billion, while profit was $2.94 a share, the company said in a statement Thursday. Analysts on ...Read more
Korean shipbuilder agrees to a deal that could bring more jobs to Philadelphia
The world's largest shipbuilder, HD Hyundai Heavy Industries Co. Ltd. of Ulsan, South Korea, has signed a deal to seek U.S. government shipbuilding and maintenance contacts in alliance with Philly Shipyard Inc., which employs around 1,000 at the former Philadelphia Navy Yard site in South Philadelphia.
An agreement to "explore a potential ...Read more
California battery storage increasing rapidly, but not enough to end blackouts, Gov. Newsom says
Gov. Gavin Newsom said Thursday that California continued to rapidly add the battery storage that is crucial to the transition to cleaner energy, but admitted it was still not enough to avoid blackouts during heat waves.
Standing in the middle of a solar farm in Yolo County, Newsom announced the state now had battery storage systems with the ...Read more
'Net neutrality' to return under narrowly approved FCC rule, reversing Trump-era policy
The Federal Communications Commission has approved a rule which will reclassify broadband internet as a telecommunications service subject to federal oversight, reestablishing the so-called “ net neutrality” policy done away with under the Trump Administration.
In a 3–2 vote taken Thursday, the nation’s top communications regulators ...Read more
Micron gets combined $13.6 billion grant, loan for chip plants
The Biden administration chose Boise, Idaho-based Micron Technology for a $6.1 billion federal grant and $7.5 billion loan to build factories where memory chips would be manufactured, the latest award meant to drive domestic production of vital technology.
Micron will build one factory in Clay, N.Y., and another in Boise using the funds from a ...Read more
DHL to pay Chicago-area drivers $8.7 million in EEOC racial discrimination settlement
DHL has agreed to pay $8.7 million to resolve a long running lawsuit brought by the Equal Employment Opportunity Commission alleging the delivery company discriminated against Black workers in the Chicago area.
The EEOC accused the company of assigning Black workers to routes in neighborhoods with higher crime rates, segregating Black and white...Read more
US economy slows and inflation jumps, damping soft-landing hopes
U.S. economic growth slid to an almost two-year low last quarter while inflation jumped to uncomfortable levels, interrupting a run of strong demand and muted price pressures that had fueled optimism for a soft landing.
Gross domestic product increased at a 1.6% annualized rate, below all economists’ forecasts, the government’s initial ...Read more
Mortgage rates climb for a fourth week to reach 7.17%
Mortgage rates in the U.S. increased for a fourth straight week.
The average for a 30-year, fixed loan was 7.17%, up from 7.1% last week, Freddie Mac said in a statement Thursday.
House hunters looking to land a deal during the typically busy spring season are having to dig deeper to afford a purchase. Borrowing costs have climbed fairly ...Read more
Toyota is investing $1.4 billion to build another all-electric SUV in US
Toyota Motor Corp. is moving ahead with plans to manufacture and sell more electric vehicles in the U.S. by investing $1.4 billion at a plant in Indiana, the Japanese carmaker’s second such announcement this year.
The Princeton, Indiana, facility — which currently makes four gas and hybrid models — will add an unnamed all-electric, three...Read more
Childcare costs 'more than a mortgage' per kid, forcing Philly parents to make tough choices
The Salovin family pays $26,000 a year for childcare for their two daughters.
For them, it’s a worthwhile expense, knowing their 1- and 4-year-old girls are at a licensed facility and they can both stay in the workforce.
But even the Delaware County, Pennsylvania, couple — who work in health-care administration and pharmaceuticals — is ...Read more
Can Colorado cities prevent thousands of apartments from losing affordability protections?
Nine years ago, one of Silverthorne, Colorado’s few income-restricted housing properties was sold to a private firm. The sale — at a price that was double the property’s assessed value — raised worries in the high-cost mountain community that the new owner of the Blue River Apartments might lift rent caps that had kept its 78 units ...Read more
Real estate Q&A: Can I break lease in poorly maintained building?
Q: I lease an apartment in a poorly maintained building. Lately, it has gotten to the point where the smell is literally making me sick. I want to move, but I signed a one-year lease. Can I get out of my lease due to this? — Cara
A: When a property is leased, it creates a legal relationship with benefits and responsibilities for the landlord ...Read more
Biden administration adopts new rules to boost overtime pay. California was way ahead
The Biden administration on Wednesday adopted new rules that starting July 1 will enhance overtime protections for millions of U.S. white-collar workers who receive salaries but typically work in relatively low-paying jobs.
More than an estimated 3 million Americans could stand to benefit from the plan when they work more than 40 hours a week. ...Read more
Questions swirl over the future of TikTok. Who could own it? How will the platform operate?
TikTok on Wednesday faced a formidable threat to its business, with a new law signed by President Biden that could dramatically change the way the popular video app operates.
TikTok, which is owned by Chinese company ByteDance, has faced scrutiny from U.S. government officials over how it handles the data of its U.S. users and its ties to China...Read more
Legislation banning TikTok is coming this week. How will it affect the music industry?
On Tuesday, the U.S. Senate passed a bill that would force TikTok's China-based parent company to sell the popular app, or it would be blocked in the U.S.
While the legislation would have profound impacts across the tech, political, entertainment, media and marketing worlds, music may be especially affected. TikTok's first incarnation was as a ...Read more
Ford Q1 profits fall 28% as Ford Blue hit from F-150 ramp-up
Ford Motor Co. said Wednesday it made $1.3 billion in net income in the first quarter of 2024, a 28% decrease year-over-year, as earnings from Ford's gas-engine and hybrid business tumbled from the ramp-up of the refreshed 2024 F-150 pickup truck.
The profit that represented 33 cent earnings per diluted share came on $42.8 billion in revenue, ...Read more
Popular Stories
- Childcare costs 'more than a mortgage' per kid, forcing Philly parents to make tough choices
- Can Colorado cities prevent thousands of apartments from losing affordability protections?
- Real estate Q&A: Can I break lease in poorly maintained building?
- US economy slows and inflation jumps, damping soft-landing hopes
- Boeing retaliated against its own engineers working for FAA, union says