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Feds allege Minnesota bank discriminated in lending practices

Business / Business News /

MINNEAPOLIS -- The U.S. Justice Department has accused Minnesota-based KleinBank of "redlining," the practice of unlawfully structuring its mortgage lending business to avoid serving minority neighborhoods around the Twin Cities.

In a federal lawsuit filed late Friday, lawyers from the department's civil rights division said Chaska-based ...Read more

'Hidden Figures' leads 'La La Land' and 'Patriot's Day' at holiday box office

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LOS ANGELES -- In what's shaping up to be a highly competitive holiday weekend at the box office, 20th Century Fox and Chernin Entertainment's "Hidden Figures" has the No. 1 spot, just three days in. If it holds, it will be the reigning film for the second week in a row.

The film, based on a true story about black women at NASA who were ...Read more

SpaceX launches 10 satellites aboard Falcon 9 rocket

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A SpaceX Falcon 9 rocket carrying 10 satellites was launched into orbit Saturday morning and landed its first-stage booster on a drone ship in its first launch since a September explosion.

The first-stage booster landed on a floating platform called "Just Read the Instructions" in the Pacific Ocean about 8 minutes after liftoff.

Analysts had ...Read more

Susan Tompor: Fast-cash options offset expected delay of tax refunds

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It's going to be hard to turn on the TV, drive past a tax preparation storefront or walk into a Wal-Mart early into this tax season and not be deluged with pitches for fast-cash, refund-related loans at zero percent.

H&R Block, Jackson Hewitt and others are fighting for market share and trying to lock in customers who might otherwise turn to an...Read more

Gail MarksJarvis: How parents can survive the $233,610 cost of raising a child

Business / Business News /

A baby is a bundle of joy, but get ready if you are starting a family: Raising that little person also will cost you a bundle.

If you have a baby, expect to spend $233,610 over the next 18 years as you pay for everything from diapers to the extra room in your house or apartment, according to a report released this month by the U.S. Department ...Read more

Boeing wins 100-plane order from India's SpiceJet

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SEATTLE -- Boeing has won a new order for 100 737 MAX 8 planes from Indian airline SpiceJet, the companies announced Friday in New Delhi.

A statement said the order was "booked at the end of 2016," so presumably it was included in Boeing's count of 534 MAX sales for last year.

The order, with a list price of $11 billion, is worth an estimated ...Read more

Bank of America CEO: Optimism about Trump administration is 'palpable'

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CHARLOTTE, N.C. -- Bank of America CEO Brian Moynihan on Friday said there is "palpable" optimism at the Charlotte-based company ahead of the incoming administration of President-elect Donald Trump.

"The optimism for positive change here at Bank of America and among our customers is palpable," Moynihan told analysts during a conference call to ...Read more

Lockheed CEO tells Trump company will add 1,800 F-35 jobs in Fort Worth

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FORT WORTH, Texas -- Lockheed Martin CEO Marillyn Hewson emerged from a meeting with President-elect Donald Trump Friday pledging to bring down the cost of the F-35 Lightning II and pledging to hire more than 1,800 additional workers at the Fort Worth plant.

Trump has been in a dogfight with Lockheed Martin over the F-35 program, questioning ...Read more

Takata agrees to pay $1 billion in criminal penalties

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DETROIT -- Takata agreed to plead guilty to wire fraud and pay a total of $1 billion in criminal penalties stemming from the company's fraudulent conduct in relation to sales of defective airbag inflators, the U.S. Department of Justice said Friday.

In addition, a federal grand jury indicted three former Takata employees Friday on charges of ...Read more

Wells Fargo quarterly earnings fall in wake of bogus-accounts scandal

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WASHINGTON -- Wells Fargo & Co. on Friday reported a 6 percent drop in fourth-quarter profit in the wake of a scandal over its employees creating as many as 2 million accounts without customer authorization.

Earnings at the San Francisco-based bank, the nation's third-largest, came in below analysts' estimates as Wells Fargo continued to deal ...Read more

Consumer Confidential: A journey into health care hell

Business / Business News /

One focus of the planned repeal of Obamacare is maintaining coverage for people with pre-existing conditions. Republican lawmakers say the current law's safeguards won't change, but they have yet to explain how they'll accomplish this without also keeping the mandate that everyone buy insurance.

What isn't being discussed -- although it should ...Read more

Larry Printz: A look at presidential wheels

Business / Business News /

Once Donald Trump takes the oath of office, he'll ride to the White House in a new custom-built Cadillac limousine known as The Beast.

Built on a General Motors truck chassis and heavily armored, its specifications and construction have been managed by a small government group that has run the program for years. Aside from styling, the ...Read more

The Week Ahead: A President Trump and long-term investing

Business / Business News /

For decades, American investors have been encouraged to think long-term. Focus on the next several years, not solely this quarter. Embrace patience while concentrating on high-quality companies with solid management. Diversify and match your financial goals with your risk appetite.

Those principles will be tested under President Donald Trump. ...Read more

Exxon Mobil is ordered to hand over climate change research

Business / Business News /

A Massachusetts judge has ordered Exxon Mobil to submit 40 years of documents regarding the company's studies of the impact of fossil fuels on climate change.

Superior Court Judge Heidi E. Brieger said state law supports arguments by Massachusetts' attorney general that the government agency has the authority to pursue questions about whether ...Read more

NASA safety advisory group raises concerns about SpaceX rocket fueling process

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LOS ANGELES -- A major NASA safety advisory group urged the agency to scrutinize SpaceX's rocket fueling process ahead of future launches of astronauts to the International Space Station.

The Aerospace Safety Advisory Panel brought up concerns about the space company's unconventional fueling operations in its 2016 annual report, released ...Read more

Honest Co. recalls organic baby powder over infection concerns

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LOS ANGELES -- Honest Co., the consumer products company co-founded by actress Jessica Alba, is recalling organic baby powder sold in the U.S. because it may cause skin or eye infections.

The startup, based outside Los Angeles, said that a regular test of the powder found possible contamination of microorganisms that can cause infections. The ...Read more

High-flying Delta starts to level off, but employees will share more than $1 billion in 2016 profits

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ATLANTA -- Delta Air Lines reported a nearly $4.4 billion profit for 2016, down slightly from the $4.5 billion in net income it had in 2015 as the carrier faces pressures from higher fuel costs and pay increases to pilots and other employees.

While the airline's costs have been rising, particularly with a new pilot labor contract with immediate...Read more

Trump meets with AT&T CEO amid his battle with CNN and opposition to Time Warner deal

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WASHINGTON -- Donald Trump met Thursday with the chief executive of AT&T Inc. amid the president-elect's outspoken opposition to the telecom giant's proposed $85.4 billion purchase of Time Warner Inc. and a flare-up in his long-running battle with the media company's CNN outlet.

Randall Stephenson met with Trump at Trump Tower in New York, ...Read more

Amazon plans to hire 100,000 employees over next 18 months

Business / Business News /

SEATTLE -- Amazon.com said it plans to add 100,000 full-time U.S. employees over the next 18 months, a move that comes amid pressure on the private sector by the incoming Trump administration to create jobs.

Seattle-based Amazon said Thursday that by 2018 it plans to have more than 280,000 full-time U.S. employees, versus 180,000 at the end of ...Read more

India to Amazon: We're not your doormat

Business / Business News /

MUMBAI, India -- No diplomat wants his or her country to be stepped on. India's foreign minister took that sentiment to another level.

Sushma Swaraj lashed out at Amazon's Canadian website after learning from a Twitter user that the online retailer was selling doormats in the design of the Indian flag.

In a series of tweets Wednesday night, ...Read more