Business
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Michigan farmers squeezed by wage hikes under migrant worker program
On 2,000 acres across three counties, Nick Oomen’s family farm grows crops like asparagus, broccoli, zucchini and cherries.
Even with a bountiful harvest, Oomen says he’s not sure how long the fourth-generation business called West Michigan Produce will last. That’s because Oomen and other farmers like him face increased labor costs they ...Read more
Skyrocketing home insurance rates, loss of coverage roil Colorado's strained housing market
Coloradans looking to buy homes or simply hold onto their property face a barrage of challenges: a white-hot real estate market, high interest rates and soaring property taxes. You can add surging home insurance rates to the pile of problems eroding the landscape of affordable housing options.
Colorado homeowners are reporting premium increases...Read more
Citing unfair trade, Biden hikes tariffs on Chinese EVs, batteries
The Biden administration on Tuesday said it will raise tariffs on electric vehicles and other products from China in response to anti-competitive practices it found harmed American businesses and workers.
The increased tariff rates follow a review by U.S. Trade Representative Katherine Tai, which found that China continues to engage in ...Read more
Minneapolis businesses are recovering from the 2020 riots, but years of work remain
MINNEAPOLIS — Last month Ruhel Islam watched a wrecking crew demolish the O'Reilly Auto Parts Store on Lake Street in Minneapolis that rioters had destroyed in May 2020.
After four years, the blighted building was finally coming down to make way for a new $12 million Latino community center. It should have been happy news.
But the scene ...Read more
Treat buy now, pay later loans like real debt
It’s been close to two years since the Consumer Financial Protection Bureau indicated it was looking to tighten regulations on popular “buy now, pay later” services. Since then, the sector has grown to $300 billion. It’s time to bring meaningful transparency to an industry that has drawn in legions of consumers, including those ...Read more
Ex-Boeing engineer sidelined after a 787 critique defends troubled plane
At a U.S. Senate hearing last month, a Boeing whistleblower claimed that small gaps in Boeing's 787 Dreamliner could cause a catastrophic accident. The following week at the 787 assembly plant in South Carolina, Boeing insisted the gaps pose no risk and the jet is safe.
The dueling narratives, emerging as Boeing's credibility is near an all-...Read more
Melinda French Gates resigns from Bill & Melinda Gates Foundation
Melinda French Gates announced Monday she is resigning from her role as co-chair of the Seattle-based Bill & Melinda Gates Foundation.
“This is not a decision I came to lightly,” French Gates wrote in a post shared on X.
CEO Mark Suzman, the executive leadership team and the board of trustees will continue to lead the foundation’s ...Read more
Tesla rehires some Supercharger workers weeks after Musk's cuts
Tesla Inc. has begun hiring back some of the almost 500 members of its Supercharging team that Chief Executive Officer Elon Musk dismissed late last month.
Chief among the personnel who have returned is Max de Zegher, the director of charging for North America, according to people with knowledge of the matter, who asked not to be identified ...Read more
Walgreens contacts potential buyers for £7 billion Boots drugstore chain
Walgreens Boots Alliance Inc. is reaching out to potential buyers of the £7 billion ($8.8 billion) Boots drugstore chain in the UK, according to people familiar with the matter.
The Deerfield, Illinois-based company is working with advisers to hold early-stage discussions with would-be bidders, said the people, who asked not to be identified ...Read more
OpenAI launches faster and cheaper AI model with GPT-4o
OpenAI is launching a faster and cheaper version of the artificial intelligence model that underpins its chatbot, ChatGPT, as the startup works to hold on to its lead in an increasingly crowded market.
During a livestreamed event on Monday, OpenAI debuted GPT-4o. It’s an updated version of its GPT-4 model, which is now more than a year old. ...Read more
Polar Semiconductor lands up to $120 million from CHIPS program
Polar Semiconductor will receive up to $120 million in federal funds to expand and upgrade its Bloomington, Minnesota, facility.
The U.S. Department of Commerce and Polar signed a preliminary agreement for the money, which comes from the CHIPS (Creating Helpful Incentives to Produce Semiconductors) and Science Act program. Polar's project will ...Read more
Bankers notch win in fight to keep billions in credit-card fees
Banks are celebrating an early legal win in their fight to kill new U.S. rules that threaten billions of dollars in revenue from credit-card late fees.
A federal judge’s decision last week to freeze caps on the charges mandated by the Consumer Financial Protection Bureau gave a last-minute reprieve to lenders before they were scheduled to ...Read more
US inflation, home price expectations pick up in NY Fed survey
U.S. consumer expectations for inflation and home prices rose in April while perceptions of the labor market weakened, underscoring an uneasy backdrop for household finances and the cost of living.
Consumers expect prices will climb at an annual rate of 3.3% over the next year after hovering around 3% for the past four months, a Federal Reserve...Read more
Bay Area small businesses struggle with inflation as optimism slides
It is definitely not party time at Aimbrell Shanks’ Santa Clara, California, rental company, PartyTime Machines. As at a great many Bay Area small businesses, inflation is not only driving expenses up, it is shrinking her market as consumers cut spending to cope with their own rising household costs.
“I am not optimistic,” said Shanks, ...Read more
Why did Huy Fong, the beloved Sriracha brand, halt production again?
The Sriracha shortage panic has returned.
In what’s become a dreaded tradition in recent years, fans of the beloved spicy chili sauce just got more bad news: The California company that popularized the condiment known for its distinctive fiery red color has halted production until after Labor Day.
Earlier this month, Huy Fong Foods, which is...Read more
Piecing together the puzzle of college financial aid
There's been a lot of drama this spring for families seeking college financial aid.
The trouble stems from a revamp of the Free Application for Federal Student Aid (FAFSA), where changes and technology glitches have been an ongoing source of frustration for families.
The federal government, meanwhile, was significantly delayed in relaying data...Read more
Would you rent a room in an apartment with a stranger? This development is betting on it
CHARLOTTE, North Carolina — Many renters in Charlotte pay to have a bathroom, living room and kitchen all to themselves — but for some people, one room is enough.
Now an apartment company is trying something new, where people can rent a bedroom for less than paying for an entire apartment, but share common space with a stranger. It’s kind...Read more
Study: American workers plan to slow-roll into retirement
Often when people aged 50 or older contact her, Pittsburgh financial coach Shay Port said the conversation starts with them declaring that they will never be able to retire.
"They say things like, 'I know I will have to work the rest of my life,'" Port said. "And that's what I try to help them with — actually being able to retire at some ...Read more
Motormouth: Fob batteries
Q: I have a 2014 Honda and I am curious as to the key fob. The batteries must be at least 10 years old, and it doesn’t look like they can be replaced. I’m curious as to how long the batteries are gonna last. I hope it does not die sometime when I’m out somewhere else and trying to get started.
D.B., Cheshire, Connecticut
A: There is ...Read more
Can goats save the woods in a tiny Pennsylvania town from invasive vines?
Parsley, an 11-year-old goat, ambled over to several children who gathered to watch his first day on the job.
He patiently let them pat him but soon had to get back to work munching on a bush. Parsley chewed away at leaves and branches that made their way to his four-compartment stomach to be fermented as if in a living wine barrel.
“Parsley...Read more
Popular Stories
- Ex-Boeing engineer sidelined after a 787 critique defends troubled plane
- Why did Huy Fong, the beloved Sriracha brand, halt production again?
- Bay Area small businesses struggle with inflation as optimism slides
- US inflation, home price expectations pick up in NY Fed survey
- Melinda French Gates resigns from Bill & Melinda Gates Foundation