Business category, Page 305
Survey: CEO pessimism on economy spreads after upbeat 2018
DAVOS, Switzerland — A survey of hundreds of corporate leaders shows “a record jump in pessimism” about the world economy, with sentiment doused by trade spats, a global downturn and fading benefits from U.S. President Donald Trump’s tax cuts. Consulting firm PwC says the latest edition of its annual survey...
China grants Ivanka Trump 5 trademarks amid trade talks
SHANGHAI — The Chinese government has granted Ivanka Trump’s company preliminary approval for another five trademarks this month, as her father’s administration pushes ahead on trade negotiations with China. Four trademarks, including child care centers, sunglasses and wedding dresses, were approved on Sunday. A fifth, covering brokerage, charitable fundraising and...
Rocking beds and pillows that nudge when you snore: Tech wants into your bed
I’ve tried a mattress with water cooling and another that sways like a boat. I’ve worn brainwave-measuring helmets and rested on pillows that nudge you when you snore. In the hunt for better sleep, I’ve even snuggled up with a robot. For the gadget industry, sleep is the new exercise...
Deborah Kearns: The 4 most common mortgage and real estate scams and how to stop them
The last thing consumers should have to worry about is being scammed when they buy or rent a home, or consider refinancing options. Unfortunately, criminals are getting more creative in how they target their victims, leading to major financial headaches for their unsuspecting victims. In 2017 alone, 9,645 victims reported...
World Economic Forum warns of impact of global tensions
LONDON — International tensions and nationalist politics can further weigh on the global economy this year and hinder efforts to deal with big issues such as climate change, the organizers of this week’s Davos forum warned last weekWednesday. In its annual Global Risks Report, the World Economic Forum said the...
On road to make an affordable car, Tesla cuts jobs
Tesla, recognizing as imperative its ability to produce a cheaper electric car, told employees Friday that it must cut 7 percent of its workforce. Tesla’s cheapest model right now is the $44,000 Model 3, and it needs to broaden its customer base to survive. “Looking ahead at our mission of...
Nissan to cut up to 700 contract workers in Mississippi
JACKSON, Miss. — Nissan Motor Co. says it’s cutting up to 700 contract workers at its Mississippi assembly plant, citing slow sales for Titan pickup trucks and vans. The company employs 6,400 employees and contractors in Canton, Miss. The move follows Nissan’s December announcement that it’s cutting 1,000 jobs at...
Facebook shuts hundreds of Russia-linked pages, accounts
LONDON — Facebook says it has removed hundreds of Russia-linked pages, groups and accounts that it says were part of two big disinformation operations, in its latest effort to fight fake news. The social media company said Thursday it took action after finding two networks “that engaged in coordinated inauthentic...
Microsoft pledges $500M to tackle Seattle housing crisis
SEATTLE — Microsoft pledged $500 million to address homelessness and develop affordable housing in response to the Seattle region’s widening affordability gap. Most of the money will be aimed at increasing housing options in the Puget Sound region for low- and middle-income workers at a time when they’re being priced...
YouTube to ban ‘harmful or dangerous’ prank, challenge videos
YouTube is bringing down the hammer on “harmful or dangerous content” in the wake of viral challenges that place content creators in potentially serious danger. The company recently announced the content crack-down, and singled out videos that present an apparent risk of death, videos that cause children to experience emotional...
Survey: Younger drivers can identify emojis, not car dashboard alert
Younger drivers can identify emojis, but a common car dashboard alert throws them, according to a new survey. Millennials and Gen Zers are 1.5 times more likely to identify popular emojis correctly than the tire pressure monitoring system (TPMS) warning symbol, according to the survey commissioned by Goodyear Auto Service...
Sears staves off liquidation, stores to remain open
NEW YORK — Sears will live on— at least for now. The company’s chairman and largest shareholder, Eddie Lampert, won a bankruptcy auction for Sears, averting liquidation of the iconic chain, according to a source familiar with the negotiations. The person agreed to speak on condition of anonymity because they...
PG&E bankruptcy looms, CEO to exit as fire costs dwarf cash
PG&E Corp. said it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities of $30 billion or more, gutting its share price and prompting the departure of its chief executive officer. The San Francisco-based company said it intends to reorganize under Chapter 11...
Burger King trolls Trump on Twitter
DETROIT — Burger King is needling President Trump for his tweet about ordering more than 1,000 “hamberders” for the Clemson University Tigers’ visit to the White House after winning the college football championship. The spelling error was quickly corrected. But Burger King jumped in with a tweet of its own:...
Gillette ad brings mixed response, 400K YouTube dislikes
Razor company Gillette is making a statement with its new commercial. The company posted “We Believe: The Best Men Can Be” to its Twitter account and YouTube channel this week, calling attention to the #MeToo movement and depicting men acting in stereotypical ways. The video has more than 10.7 million...
Feds to ease rules on drone flights over crowds and at night
Federal officials plan to ease restrictions on flying small drones over crowds and at night, which would give a boost to the commercial use of unmanned aircraft. The Federal Aviation Administration outlined draft rules Monday that would let drone operators do those things without a special waiver from current rules....
PNC Bank to buy Allentown-based Ambassador Financial Group
PNC Bank has reached a “definitive agreement” with Ambassador Financial Group Inc. to purchase the Allentown-based broker-dealer, PNC announced Monday. Upon closing in the second quarter of 2019, Ambassador Financial Group will become a subsidiary of PNC Bank. Ambassador is a provider of balance sheet management, investment banking and capital...
Netflix raising prices for 58M U.S. subscribers as costs rise
SAN FRANCISCO — Netflix is raising its U.S. prices by 13 percent to 18 percent, its biggest increase since the company launched its streaming service 12 years ago. Its most popular plan will see the largest hike, to $13 per month from $11. That option offers high-definition streaming on up...
Airbnb says it made a profit again in 2018
Airbnb Inc. said it made money for a second straight year, based on a common measure that excludes some expenses, as the online home-rental service prepares for an initial public offering. Airbnb said in a memo that it generated earnings before interest, tax, depreciation and amortization in 2018. A spokesperson...
Texas recyclers face challenges of weak demand, low prices
HOUSTON — Oceans choked with discarded plastics. Beached whales found with hundreds of pieces of plastics in their stomachs. Soil contaminated by tiny fragments of plastics. The Houston Chronicle reports as environmentalists, corporations and the public increasingly focus on the mass of plastics discarded every day, they are running into...
Volkswagen to build electric vehicles at Tennessee plant
German automaker Volkswagen said Monday its factory in Tennessee will be the focus of an $800 million investment in the company’s manufacturing of electric vehicles in North America. Volkswagen made a couple of announcements that will expand its plant in Chattanooga and create 1,000 jobs there as the factory gears...
Egg photo becomes most-liked Instagram post – huh?
A photo of an egg, just an ordinary egg, became the most-liked photo on Instagram Sunday night, toppling the previous mark set by a photo posted by reality television personality and model Kylie Jenner. “Let’s set a world record together and get the most liked post on Instagram,” the post,...
Citigroup adjusted profits rise by 9 percent, beats estimate
NEW YORK — Citigroup is reporting its profits rose by 9 percent on an adjusted basis from a year earlier, helped by a lower tax rate and a reduction in expenses. Citi said Monday it earned $4.31 billion in the last three months of 2018, or a profit of $1.64...
Ford and Cadillac SUVs, Toyota sports car star at Detroit auto show
DETROIT — SUVs and a big pickup truck will get top billing at Detroit’s auto show this year, but there are some surprise sports cars and electric vehicles on the agenda. Press days for the show begin Monday, although there are a couple of unveils set for before the show...
PG&E, facing colossal liability, seeks bankruptcy protection
SAN FRANCISCO — Facing potentially colossal liabilities over deadly California wildfires, PG&E will file for bankruptcy protection. The announcement Monday follows the resignation of the power company’s chief executive a day earlier. Shares plunged by 50 percent before the opening bell. PG&E said Monday that it’s given the required 15-day...
