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Brian van der Brug/Los Angeles Times/TNS

A tale of two downtowns in LA: As offices languish, apartments thrive

Business / Business News /

By many measures, downtown Los Angeles’ newest apartment tower is over the top with such gilded flourishes as stone tiles from Spain lining the elevator cabs and hand-troweled Italian plaster on interior walls. Hummingbirds have somehow found the fruit-laden trees decorating the outdoor lounge on the 41st floor.

For Stuart Morkun, the ...Read more

Las Vegas Review-Journal/Las Vegas Review-Journal/TNS

How much could Trump hotel in Las Vegas sell for? It's complicated

Business / Business News /

As Republican presidential candidate and former president Donald Trump navigates multiple criminal and civil trials levied against him, his professional net worth and assets have come into the spotlight.

In Las Vegas, Trump — along with business partner Phil Ruffin — is the co-owner of Trump International Hotel, a 64-story, 1,282-room ...Read more

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Record wave of Americans fled big cities for small ones in 2023

Business / Business News /

Score a victory for Mayberry. America’s small towns, like the iconic setting of television’s The Andy Griffith Show from the 1960s, saw more in-migration in 2023 than larger areas for the first time in decades.

The remote work boom that prompted Americans to flee urban areas for mountain hamlets and seaside towns during the pandemic ...Read more

Real estate Q&A: What can we do about new apartment's surprise special assessment?

Business / Business News /

Q: We are in the process of purchasing an apartment. Our closing attorney received the report from the condominium association showing the monthly dues were current, and we were surprised to learn that a special assessment was pending because the sellers told us that none were. The contract also says that no special assessments are pending. We ...Read more

Henry Payne/The Detroit News/TNS

With production of the Chevy Malibu ending, long era ends for ol' Detroit sedans

Business / Business News /

DETROIT — In another case of Detroit automakers surrendering car sales to foreign competition, General Motors Co. this fall will retire its last mainstream gas-powered sedan when production of the Chevrolet Malibu ends after nine generations.

The Detroit automaker confirmed Wednesday it will stop producing the mid-size sedan in November at ...Read more

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US revokes Intel, Qualcomm licenses to sell chips to Huawei

Business / Business News /

The U.S. has revoked licenses allowing Huawei Technologies Co. to buy semiconductors from Qualcomm Inc. and Intel Corp., according to people familiar with the matter, further tightening export restrictions against the Chinese telecom equipment maker.

The decision will affect sales of chips for use in Huawei phones and laptops, according to the ...Read more

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DOJ decision on reopening Boeing criminal prosecution coming this month

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The U.S. Justice Department expects to have a decision by the end of this month on whether it will pursue criminal claims against Boeing following two fatal 737 Max crashes.

Federal prosecutors are set to meet on May 31 with the families who lost loved ones in those crashes more than five years ago to share their decision, according to a letter...Read more

Arvin Temkar/The Atlanta Journal-Constitution/TNS

Proxy battle vote could determine Norfolk Southern's future

Business / Business News /

A shareholder vote on an attempted takeover of Atlanta-based Norfolk Southern could shape the railroad’s future.

Norfolk Southern shareholders will vote Thursday during the company’s virtual annual meeting on a proposal by activist investor group Ancora Holdings to replace most of the company’s board members.

Here are the issues and what...Read more

DREAMSTIME/TNS

Microsoft's Xbox Is planning more cuts after studio closings

Business / Business News /

The sudden closure of several video-game studios at Microsoft Corp.’s Xbox division was the result of a widespread cost-cutting initiative that still isn’t finished.

This week, Xbox began offering voluntary severance agreements to producers, quality assurance testers and other staff at ZeniMax, which it purchased in 2020 for $7.5 billion, ...Read more

Henry Payne/The Detroit News/TNS

GM to end production of the Chevy Malibu this fall, will prep Fairfax for Bolt production

Business / Business News /

General Motors Co. will halt production of the Chevrolet Malibu sedan this fall at its Fairfax Assembly plant in Kansas to prep for production of the new Chevrolet Bolt electric vehicle, the automaker confirmed Wednesday.

Production of the Cadillac XT4 small SUV will continue until the plant is shut down next year to retool for production of ...Read more

Star Tribune, Star Tribune/Star Tribune/TNS

Lower car prices bring better deals, but high interest rates deter some buyers

Business / Business News /

Consumers that delayed buying a car between 2020 and 2023 are in a much better spot to buy in 2024, experts say, as sticker prices drop due to recovering inventory levels.

High interest rates on auto loans, however, remain a barrier despite car manufacturers' upping incentives for potential buyers.

Still, it's a good time to buy a car, and it'...Read more

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SXSW entertainment and tech festival to expand to London in 2025

Business / Business News /

Entertainment and tech festival South By Southwest will be expanding across the pond to London in June 2025, growing the influential brand's reach internationally.

The new festival will be centered around Shoreditch, an artsy area in East London known for its nightlife, street art and creative spaces.

In addition to the typical music, tech, ...Read more

Glen Stubbe/Minneapolis Star Tribune/TNS

Minneapolis Fed's Kashkari says interest rate conundrum makes 2024 uncertain

Business / Business News /

The idea of a "new normal" became a post-pandemic cliche, but the president of the Federal Reserve Bank of Minneapolis thinks there might be economic proof of its truth.

After 11-consecutive interest rate hikes from March 2022 to July 2023, policymakers have kept rates at 5.25% to 5.5% since, including upholding that rate at a meeting of the ...Read more

Myung J. Chun/Los Angeles Times/TNS

California's wealthiest farm family plans mega-warehouse complex that would reshape San Joaquin Valley economy

Business / Business News /

California's wealthiest farming family is proposing an expansion of industrial warehousing in Kern County that would fundamentally reshape the economy in the southern San Joaquin Valley.

Outside of Kern, Stewart and Lynda Resnick, the billionaire owners of the Wonderful Co., are better known for pomegranates and pistachios. But for more than a ...Read more

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Balls, orbs or neurons: the pioneering tech helping a rural utility company manage transmission lines

Business / Business News /

Steady gusts of wind swept across a field in Maple Grove, Minnesota, last week as Warren Grange of Heimdall Power flew a drone to attach what looks like a high-tech cantaloupe on to a power line.

The small sphere, which the Norway-based company officially calls a "neuron," has drawn nicknames like "magic ball" or "orb." Whatever the name, ...Read more

Tyger Williams/The Philadelphia Inquirer/TNS

A Philadelphia pharmacy's closure after 26 years highlights the industry's growing challenges

Business / Business News /

Last Monday, Friendly Pharmacy filled 318 prescriptions. For about 100 of them, insurance companies paid the pharmacy less than $3.

In 22 instances that day, the reimbursement was less than the cost of the medication. And that’s just among the prescriptions that were actually filled. Managing pharmacist Brad Tabaac said he has to turn away ...Read more

Meta will let advertisers create campaigns using new generative AI tools

Business / Business News /

Facebook and Instagram parent company Meta Platforms Inc. is testing new tools that will let advertisers create marketing material, including images and messaging, using generative AI prompts.

If an advertiser uploads a photo of their product, Meta’s artificial intelligence tools can now generate new, different images of that product for ...Read more

If pigs get bird flu, we could be in for a real nightmare

Business / Business News /

The bird flu outbreak among dairy cows continues to generate alarm, despite reassuring news that pasteurized milk is unlikely to infect anyone with H5N1. Scientists can’t stop worrying about a nightmare scenario: that the virus will get into pigs and, from there, spark a human pandemic.

Pigs “are the perfect vessels through which an even ...Read more

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Panera getting rid of 'charged' caffeinated lemonade after wrongful death lawsuits

Business / Business News /

Panera Bread will no longer sell its "charged lemonade" — a caffeinated drink at the center of two wrongful death lawsuits against the company — in a move the plaintiffs' attorney says "will save lives."

The lawsuits allege that Panera failed to accurately advertise its charged lemonade as an energy drink, putting consumers at risk, and ...Read more

Brian Cassella/Chicago Tribune/TNS

Illinois hemp businesses owners call for regulation and taxation, not prohibition

Business / Business News /

The last thing most business owners want is to be taxed and regulated, but hemp business owners are asking for just that — as a way to keep their industry alive.

Hemp entrepreneurs came out Tuesday in favor of a state legislative proposal to license hemp sales, require testing and labeling of their products, prohibit products that look like ...Read more