Will 'Brexit' mark the end of the age of globalization?

Business / Business News /

WASHINGTON -- For decades, financial and political leaders have preached the inevitability of globalization, promising nations that by sacrificing some of their sovereignty and dropping national barriers they could reap far greater rewards through economic integration and cooperation. And that turned out to be largely true.

But Britain's ...Read more

California winemakers press for stricter label rules

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WASHINGTON -- California winemakers have now enlisted lawmakers and federal regulators in their latest effort to stop the dilution of some vintage names.

Squeezed by the state's large congressional delegation, regulators are proposing to restrict further the use of certain crucial words on wine labels. The move would stop out-of-state wine ...Read more

UK film and TV industries 'grieving' in wake of 'Brexit' vote

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LOS ANGELES -- Most fans of the horror series "Penny Dreadful" think of the Showtime drama as a British TV show. The story is set in turn-of-the-century London and many of the actors and writers are from the U.K. But "Penny Dreadful" has been a multinational show helped by the U.K.'s membership in the European Union -- a relationship the British...Read more

The Week Ahead: A report card on banks for their investors

Business / Business News /

It is testing time for America's big banks.

In the past week, the Federal Reserve released its annual review of the soundness of the American banking system.

As a group, they passed. In the week ahead, the Fed will say whether individual banks can send more money back to their shareholders. If the Fed thinks the banks do not pose a big risk to...Read more

United, flight attendants near tentative deal on new joint contract, first since 2010

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CHICAGO -- United Airlines and a negotiating team for the company's 25,000 flight attendants have agreed on terms of a new contact, the Association of Flight Attendants said in a statement on its website. It would be the first joint contract for the airline's flight attendants since the 2010 merger between United and Continental Airlines.

The ...Read more

Ryan tax plan cuts corporate rate to 20 percent to stem inversions

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WASHINGTON -- U.S. corporations would get the largest federal income-tax rate cut in history, and their foreign earnings would no longer face domestic taxes when they return to the U.S. under a plan that House Republicans unveiled Friday.

The changes would remove incentives for U.S. companies to seek offshore tax addresses for lower tax bills, ...Read more

US markets drop sharply after 'Brexit' vote increases global recession risk

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WASHINGTON -- Major U.S. stock indexes plunged Friday morning following a large-scale global selloff overnight in the wake of Britain's vote to leave the European Union.

The Dow Jones industrial index plummeted 500 points, or about 3 percent, in early trading. The broader Standard & Poors 500 index and the technology heavy Nasdaq composite also...Read more

Mark Phelan: Mulally, Nader lead new class into auto hall of fame

Business / Business News /

Alan Mulally, the CEO who flew in from Boeing to rescue Ford, leads 2016's inductees to the Automotive Hall of Fame.

The rest of the class is:

--Ralph Nader, pioneering consumer advocate.

--Bertha Benz, pioneering driver and wife and business partner of Carl Benz, inventor of the automobile.

--Roy Lunn, godfather of the original Ford GT40, ...Read more

Senate bares frustration with customer service of cable industry

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WASHINGTON -- U.S. senators blasted Comcast, AT&T, Charter Communications and Dish Network over millions of dollars in pay-TV billing overcharges, promotional pricing, bill haggling and other loathed customer-service practices during a hearing here on Thursday that included officials of those companies.

The hearing aired the findings of the ...Read more

Twilio shares soar 90 percent in stock market debut, boding well for other tech IPOs

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Communications software maker Twilio Inc. flourished in its stock market debut Thursday, signaling that investors starving for new opportunities may be renewing their interest in risky tech companies.

Twilio shares jumped 90 percent from the initial offering price of $15, closing at $28.53.

The San Francisco company's well-received debut could...Read more

Boeing applies for license to launch proposed satellite constellation

Business / Business News /

Boeing Co. has applied for a license from the Federal Communications Commission to launch and operate a network of thousands of satellites, joining companies such as SpaceX and OneWeb in the new race to build constellations for broadband internet access.

In its application filed Wednesday, Boeing said it planned to initially deploy 1,396 ...Read more

Twilio IPO off to strong start

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SAN FRANCISCO -- Cloud communications startup Twilio kicked off its first day of trading by jumping 65 percent from its initial public offering price -- a strong start for Silicon Valley's first tech offering of the year.

Twilio opened at $24.71, up from the $15 a share price it set on Wednesday. The jump is another sign that its $150 million ...Read more

McDonald's new HQ: 608,000 square feet, with shops, green space and concerned neighbors

Business / Business News /

CHICAGO -- McDonald's will occupy a two-building structure complete with green space and retail shops when it moves its headquarters to Chicago's West Side in the spring of 2018. Construction on the $250 million complex starts next month.

Those and other features emerged Wednesday night as Sterling Bay, the developer behind the proposed 608,000...Read more

Costco credit card switch a headache for some shoppers

Business / Business News /

Costco has been planning its big credit card changeover for months, but it hasn't gone smoothly for all customers.

On Monday, Costco officially dropped its longtime exclusive partnership with American Express and began accepting only Visa cards, including a new, co-branded Costco Anywhere card issued by Citigroup.

Customers who previously had ...Read more

Motoring Q&A: OK to go 10,000 miles on synthetic oil?

Business / Business News /

Q: I have a 2009 Honda Civic and regularly change its oil when the car's maintenance reminder indicates it's time. I use synthetic oil and was recently told by my oil-change shop that synthetic oil lasts twice as long as conventional oil. Is this true? Considering the maintenance reminder likely does not take into account that the car is running...Read more

On the House: The devil is in the real estate data

Business / Business News /

Back in the 1990s, real estate sales data were considered closely guarded secrets -- by some, at least.

That meant one of the most difficult things about my job as a reporter was finding numbers to support what real estate agents were saying about the market.

Fortunately, there were some Realtors who thought the attempt at secrecy was nonsense...Read more

Real estate Q&A: Hire inspector even for a newly built home

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Q: I'm having a home built, and the closing is in two weeks. Although our formal walk-through is next week, I've already identified several items that need correction or repair. If the builder refuses to make the appropriate repairs/corrections, what recourse do I have?

-- Ed

A: Before you buy an existing home, you should hire a professional ...Read more

Iran's economy is running just fine — if you're a bigwig at a state-owned company

Business / Business News /

TEHRAN, Iran -- One Iranian newspaper has dubbed it "Payslip-gate."

A series of leaks has exposed astronomical salaries among top executives at state-owned companies in Iran, a sign of persistent inequality in an economy struggling to recover from international sanctions.

The general director of state-run Bank Tejarat took home approximately $...Read more

Investors wary of Musk's latest proposal

Business / Business News /

SAN FRANCISCO -- Los Angeles billionaire Elon Musk has been lauded as an entrepreneurial mastermind, creatively wheeling and dealing to turn his flashy ideas into fully realized companies.

For years, fans and investors have been buying into Musk's unconventional approach to corporate finance.

He used his own money to help start Tesla Motors ...Read more

Amazon give Kindle e-reader a makeover

Business / Business News /

SEATTLE --'s newest iteration of its Kindle e-reader device is thinner, lighter and the same price it was before.

The Kindle, Amazon's flagship and entry-level e-reader model, is getting a makeover to make it slimmer and rounder, aiming to make it easier to use by those who like to read one-handed.

The new version will weigh 5.7 ...Read more