Business category, Page 288
Economy likely to pick up, though pain may linger for some
BALTIMORE — The U.S. economy will likely resume its steady growth now that the government has reopened, though economists say some scars — for the nation and for federal workers — will take time to heal. Most analysts estimate that the 35-day partial shutdown shaved a few tenths of a...
Trump administration eyes transferring control of Citgo to new Venezuelan government it has recognized
WASHINGTON - The Treasury Department plans to claim Venezuela’s U.S.-based international reserves and state-owned assets - including oil refiner and distributor Citgo - on behalf of the newly recognized government headed by opposition leader Juan Guaidó, removing them from the control of President Nicolás Maduro. In a vaguely worded statement...
Researchers say Amazon face-detection technology shows bias
NEW YORK — Facial-detection technology that Amazon is marketing to law enforcement often misidentifies women, particularly those with darker skin, according to researchers from MIT and the University of Toronto. Privacy and civil rights advocates have called on Amazon to stop marketing its Rekognition service because of worries about discrimination...
Under Armour is blasting off into a new market —spacesuits
Under Armour Inc. is teaming up with Richard Branson’s Virgin Galactic to create the next generation of apparel and footwear for pilots and passengers on trips to space. The athleticwear company will also provide uniforms for Virgin Galactic employees at its Spaceport America operations center in New Mexico, and will...
Small business workshop slated at Saint Vincent College
The Saint Vincent College Small Business Development Center will offer a seminar titled “The First Step to Small Business Success” from 9:30-11:30 a.m. Feb. 13 at its Unity campus. The informal workshop will provide information on what is needed to start a small business venture, including financing and licenses. The...
Tech rises as stocks regain some of week’s losses
NEW YORK — Stocks closed higher on Wall Street on Friday, recovering a chunk of their losses from earlier in the week. Technology and industrial companies jumped. Traders took a brighter view on the economy, and U.S. companies continued to report solid results for the fourth quarter. Energy and consumer-focused...
Canada auto workers seek boycott of GM vehicles from Mexico
DETROIT — The Canadian auto workers union is asking people in Canada and the U.S. to boycott General Motors vehicles made in Mexico. The Unifor union is asking people not to buy trucks or SUVs with vehicle identification numbers that start with the number three, which signify that they are...
YouTube changing its algorithms to stop recommending conspiracy videos
SAN FRANCISCO — YouTube said Friday it is retooling its recommendation algorithm that suggests new videos to users in order to prevent promoting conspiracies and false information, reflecting a growing willingness to quell misinformation on the world’s largest video platform after several public missteps. In a blog post that YouTube...
‘The milkman model’: Big brand names try reusable containers
A new shopping platform announced Thursday at the World Economic Forum aims to change the way we buy many brand-name products. Loop, as the platform is called, would do away with disposable containers for things like shampoo and laundry detergent from some of the world’s biggest manufacturers. Instead, those goods...
Chefs and truck drivers beware: Robots coming for your jobs
Robots aren’t replacing everyone, but a quarter of U.S. jobs will be severely disrupted as artificial intelligence accelerates the automation of existing work, according to a new Brookings Institution report. The report, published Thursday, says roughly 36 million Americans hold jobs with “high exposure” to automation — meaning at least...
Q&A: How new law, shutdown can impact tax season
Tax season is almost here, and this one could be tricky. It’s the first year that taxpayers will be filing under the massive tax law overhaul pushed through by the Trump administration. And a monthlong partial shutdown of the federal government threatens to complicate things further for some. Tax filing...
BuzzFeed, HuffPost feel pinch in faltering digital-news economy
BuzzFeed, the progenitor of both serious news and viral listicles and quizzes, will lay off about 15 percent of its staff in the latest sign of financial turbulence for once-highflying digital-media outlets. People at the New York-based publisher said the cuts will affect about 215 employees spread across all departments,...
Ford Motor Co. posts 1st quarterly loss in 2 years
DEARBORN, Mich. — Ford Motor Co., which has struggled overseas and saw U.S. sales fall last year, reported its first quarterly net loss in two years Wednesday. The Dearborn, Mich., company said it lost $116 million, or 3 cents a share, in the fourth quarter, compared with a $2.52 billion...
Amazon testing delivery by self-driving robots
NEW YORK — Amazon is bringing delivery robots to the streets of a Seattle suburb. The online shopping giant says it started to test self-driving robots that can bring Amazon packages to shoppers’ doorsteps Wednesday in Snohomish County, Washington. The robots are light blue, are about the size of a...
Verizon cutting about 800 jobs in troubled media business
NEW YORK — Verizon is cutting about 800 jobs, or 7 percent of its media and advertising employees, as it reorganizes the troubled division. The wireless company had hoped to create an ad business that could compete with Google and Facebook. It spent about $10 billion buying up internet pioneers...
Stocks end day with meager gains
U.S. stock indexes spent Wednesday drifting and finished with small gains. While big companies continue to report strong profit growth, investors aren’t sure how much longer it will last. The S&P 500 index rallied 0.8 percent in the morning after fourth-quarter earnings reports from major companies including IBM, consumer products...
Forgoing staffers, many businesses turn to freelancers
NEW YORK — It hasn’t been lost on small business owners that Uber and other ride-sharing services are enormously successful without having employees doing the work. It’s one of the reasons why small companies are forgoing employees in favor of independent contractors. Todd Miller transformed his small business a year...
Boeing’s flying car has taken off
A Boeing flying car designed to whisk passengers over congested city streets and dodge skyscrapers completed its first test flight on Tuesday, offering a peek into the future of urban transportation the aerospace giant and others are seeking to reshape. A prototype of its autonomous passenger air vehicle completed a...
Comcast loses cable users, but internet subscribers surge
NEW YORK — Comcast is still losing U.S. cable customers but is racking up more internet subscribers and has gotten a revenue boost from Sky, its big bet on European TV. The Philadelphia company said Wednesday that it lost 29,000 U.S. cable customers in the fourth quarter but added 351,000...
Analysis: Falling home sales not helping middle-class buyers
WASHINGTON — When home sales weaken, prices typically do, too, and buyers benefit. Not quite this time. Home purchases in many areas of the country have dipped, and price gains have slowed. Yet a rising number of middle-class Americans are finding that home ownership is unaffordable. Why? Mortgage rates are...
Erin Brockovich urges California to stop PG&E bankruptcy
SACRAMENTO, Calif. — Consumer activist Erin Brockovich, who famously took on Pacific Gas & Electric Co. in the 1990s, urged California lawmakers Tuesday not to let the utility go bankrupt because it could mean less money for wildfire victims. “I’m mad. I think we should all be mad,” Brockovich said...
Calif. payday lender refunds $800K to settle predatory lending allegations
WASHINGTON — A California payday lender is refunding about $800,000 to consumers to settle allegations that it steered borrowers into high-interest loans and engaged in other illegal practices, state officials said Monday. California Check Cashing Stores also agreed to pay $105,000 in penalties and other costs in a consent order...
5 Hyundai, Kia models have high fire insurance claim rates
DETROIT — Owners of five Hyundai and Kia cars and SUVs file fire insurance claims at a rate far higher than the average for comparable vehicles, according to an insurance industry study. The Highway Loss Data Institute, which analyzes data from insurers representing about 85 percent of the U.S. industry,...
Netflix joins MPAA lobbying group, its 1st streaming member
NEW YORK — On the same day Netflix scored its first best picture nomination from the Oscars, the streaming company is also joining the lobbying group the Motion Picture Association of America. The MPAA announced Tuesday that Netflix will join its ranks, becoming the first streaming service to do so....
Stocks sink on growth fears, possible snag in trade talks
NEW YORK — Stocks fell sharply Tuesday following new signs the global economy is weakening and reports of difficulties in trade talks between the United States and China. That broke a four-day winning streak for U.S. indexes. Major global indexes traded lower after the International Monetary Fund trimmed its economic...
