Business category, Page 268
Facebook plans its own currency for 2 billion-plus users
SAN FRANCISCO — Facebook already rules daily communication for more than two billion people around the world. Now it wants its own currency, too. The social network unveiled an ambitious plan Tuesday to create a new digital currency similar to Bitcoin for global use, one that could drive more e-commerce...
Kellogg cutting 150 jobs as part of Keebler sale
BATTLE CREEK, Mich. — Kellogg Co. is cutting 150 salaried jobs across North America as part of the previously announced sale of its cookie and fruit snack businesses. The Battle Creek-based company said Tuesday the action will result in pretax charges of approximately $35 million, including $20 million in severance...
Boeing lands first 737 Max jet order since deadly crashes
LE BOURGET, France — Boeing is selling its 737 Max planes again. The company announced at the Paris Air Show on Tuesday that International Airlines Group signed a letter of intent for 200 Boeing 737 aircraft. Boeing said it’s the first sale of the jet since the crash of an...
Trump is about to face his biggest test yet on the economy
WASHINGTON — President Trump faces a number of major decisions on trade and the budget in the coming months just as the U.S. economy faces the biggest head winds of his tenure, forcing him to decide whether to recalibrate as recession fears mount for next year. Trump has threatened to...
John Dorfman: Gentex, National Beverage among high-profit, low-debt stocks
How many efficient-market theorists does it take to screw in a light bulb? Punchline: None, because if the light bulb needed to be changed it would already have been done. The efficient market theory states that — since stock investors instantly incorporate all known information into stock prices — your...
Elon Musk claims he’s deleting his Twitter account
PALO ALTO, Calif. — Elon Musk says he’s deleting his Twitter account 10 months after his use of the social media site landed him in trouble with U.S. regulators. The Tesla CEO changed his Twitter display name to Daddy DotCom on Father’s Day. Daddy.com is an existing website that provides...
Boeing says ‘sorry’ for Max crashes, seeking renewed trust
LE BOURGET, France — Boeing executives apologized Monday to airlines and families of victims of 737 Max crashes in Indonesia and Ethiopia, as the U.S. plane maker struggles to regain trust of regulators, pilots and the global traveling public. Kevin McAllister, CEO of Boeing’s commercial aircraft, told reporters at the...
Spirit Airlines’ new strategy: A pleasant flight
When low-cost carrier Spirit Airlines begins new service from Hollywood Burbank Airport to Las Vegas later this month, passengers may be surprised to find the carrier do something it hasn’t been known for: Arrive on time. And when the Florida-based carrier lands in Sin City, the chances that Spirit fliers...
U.S. retail sales rose 0.5% in May, led by online shopping
WASHINGTON — Americans stepped up their retail spending last month, a sign that low unemployment and modest wage gains are encouraging consumers to shop. The Commerce Department said Friday that retail sales rose 0.5% in May, after a smaller gain of 0.3% in the previous month. April’s figure was revised...
Concerns over Persian Gulf escalation weigh on markets
TOKYO — Global shares mostly fell Friday as investors fretted over the mounting crisis in the Persian Gulf and lingering worries about trade conflict between the U.S. and China. The U.S. has blamed the suspected attacks Thursday on two oil tankers near the strategic Strait of Hormuz on Iran and...
Tyson enters plant-based meat market
The fast-growing market for meat alternatives has a surprising new player: Tyson Foods. Tyson, one of the world’s largest meat producers, will begin selling nuggets made from pea protein at grocery stores this summer. A blended burger made from beef and pea protein will follow this fall. Both will be...
Amazon’s HQ2 is already making Virginia county’s housing prices skyrocket
The flood of prosperity Amazon’s HQ2 was supposed to bring to Arlington, Va., is already causing housing prices to spike and inventory to contract, according to new research from local real estate analysts. When the controversial HQ2 decision was announced, critics warned of the havoc it could wreak on the...
Retirees worldwide may run out of money 10 years before they die, report shows
One of the toughest problems retirees face is making sure their money lasts as long as they do. From the U.S. to Europe, Australia and Japan, retirement account balances aren’t increasing fast enough to cover rising life expectancy, the World Economic Forum warns in a report published Thursday. The result...
Florida law lets autonomous vehicles drive without humans
TALLAHASSEE, Fla. — Self-driving vehicles will be able to operate in Florida without a human on board under a bill signed by Republican Gov. Ron DeSantis. DeSantis signed the measure Thursday at a test track for autonomous vehicles. The governor says he wants companies testing the vehicles to move to...
Uber plans to start delivering McDonald’s hamburgers by drone this summer
In just over a decade, Uber has fundamentally transformed the way people get from one place to another, unleashing both chaos and convenience. Now the global ride-hailing behemoth is hoping to revolutionize how people get their food. On Wednesday, the company announced plans to begin testing the first-ever commercial application...
Ford recalls 1.3M vehicles for suspension, transmission woes
DEARBORN, Mich. — Ford is recalling over 1.3 million vehicles mainly in North America to fix rear suspension and transmission control software problems. The largest recall covers over 1.2 million Explorer SUVs from 2011 through 2017. Ford says a rear suspension toe link can break if the suspension moves a...
Uber tests drone food delivery, launches new autonomous SUV
Uber is testing restaurant food deliveries by drone. The company’s Uber Eats unit began the tests in San Diego with McDonald’s and plans to expand to other restaurants later this year. Uber says the service should decrease food delivery times. It works this way: Workers at a restaurant load the...
Canadian store shames shoppers into not using plastic bags
One Canadian grocery story has come up with a pretty ingenious way of discouraging its customers from using plastic bags: shame. The East West Market in Vancouver, British Columbia, is looking to push the green agenda. To that effort, they ordered plastic bags with some rather embarrassing logos on them...
Report: Cereals positive for trace amounts of weed killerVideo
Popular breakfast cereals contain a controversial herbicide found in weed killers, according to a report released Wednesday. The new report, by Environmental Working Group, or EWG, an environmental advocacy group in Washington D.C., found trace levels of glyphosate in 21 oat-based cereals and snack products. Glyphosate is the main ingredient...
The fun is back – pre-orders start for new Atari VCS console
Have you played Atari today? Odds are, probably not. But as early as March, the answer could be yes. Atari, which popularized home video gaming with its legendary cartridge-based Video Computer System, or 2600, is launching a new, retro-styled Atari VCS that the company says will play classic and modern...
State attorneys general sue to block merger between Sprint and T-Mobile
Nine states and the District of Columbia filed a lawsuit Tuesday to block the proposed merger of T-Mobile and Sprint, believing that the combination of the country’s third- and fourth-largest wireless carriers would threaten competition and harm consumers. The lawsuit, led by the attorneys general of New York and California,...
Krispy Kreme goes all in with mega Times Square store
Don’t look now, but a trip to New York City’s Times Square just got a lot sweeter. Krispy Kreme, the doughnut store extraordinaire, announced it is opening the first-of-its-kind flagship store in Times Square in early 2020. With its 4,500 square feet of retail space, the shop “will serve more...
New Jersey mandates panic buttons for hotel room cleaners
ATLANTIC CITY, N.J. — New Jersey Gov. Phil Murphy has signed a law requiring most of the state’s hotels to provide their workers with wearable panic buttons they can press to quickly summon help in an emergency. The Democratic governor signed the bill Tuesday. He and several nationwide unions say...
John Dorfman: Here are the stocks I own
I recommend about 250 stocks a year in this column, but usually hold only about 25 stocks in a typical client portfolio. Naturally, readers ask from time to time, “Well, what do you actually hold?” So, once a year in this column I report on the holdings in my firm’s...
West Virginia Gov. Jim Justice slams Michael Bloomberg’s clean energy plan
CHARLESTON, W.Va. — Former New York City Mayor Michael Bloomberg’s $500 million effort to close the nation’s coal plants isn’t sitting well in West Virginia. West Virginia Gov. Jim Justice criticized the clean energy plan at a news conference Monday, saying it will destroy the economy of his coal-producing state....
