Black workers file suit against Turner, CNN

Business / Business News /

ATLANTA -- Former and current black employees on Tuesday filed a class-action lawsuit against Atlanta-based CNN, Turner Broadcasting System and New York-based parent company Time Warner Inc. for racial discrimination.

"We have uncovered stories involving abuse of power, nepotism, revenge, retaliation and discrimination," lead attorney Daniel ...Read more

Cuban entrepreneurs to Trump: Don't abandon us

Business / Business News /

WASHINGTON -- More than 100 newly independent Cuban business owners sent President-elect Donald Trump a letter Wednesday pleading with him not to rupture diplomatic ties and to protect the economic gains they've reaped.

Senior members of Congress hosted four visiting entrepreneurs from Havana in the first salvo of what promises to be an ...Read more

Mortgage applications jump, possibly from fear of a bump in interest rates

Business / Business News /

The fear of rising mortgage interest rates may have nudged people into action on homebuying in November.

Mortgage applications are down 0.7 percent from a week ago, the Mortgage Bankers Association reported Wednesday. But over the last month, mortgage applications for buying new and existing homes jumped 12 percent. The surge came as interest ...Read more

More companies yank ads from Breitbart News

Business / Business News /

The Breitbart News Network has long prided itself on running inflammatory articles designed to trigger sensitive liberals. But since the election of Donald Trump, the conservative media company has also managed to trigger some of its advertisers, which have yanked their ads from the irreverent site in objection to its content.

After recent ...Read more

Mark Cuban testifies in favor of AT&T's merger with Time Warner

Business / Business News /

WASHINGTON -- A proposed $85.4 billion merger between Dallas-based AT&T and Time Warner drew the ire of Donald Trump and Bernie Sanders during the 2016 presidential campaign, and the CEOs of both companies sparred with lawmakers on Capitol Hill on Wednesday over the deal.

AT&T, the largest telecommunications company in the world by revenue, ...Read more

Abbott wants to get out of $5.8 billion Alere deal

Business / Business News /

CHICAGO -- Abbott has filed a complaint seeking to terminate its planned acquisition of health care diagnostics company Alere Inc.

Since Abbott, headquartered outside Chicago, agreed to acquire Alere earlier this year for $5.8 billion, Alere has "suffered a series of damaging business developments" including the government eliminating the ...Read more

Pebble smartwatch maker will shut down and sell its intellectual property to Fitbit

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SAN FRANCISCO -- Pebble Technology Corp., one of the first companies to manufacture smartwatches, said it will shut down and sell its software and intellectual property to Fitbit Inc., which also plans to hire some of Pebble's "key personnel."

"Due to various factors, Pebble is no longer able to operate as an independent entity," Pebble founder...Read more

American Apparel sets date for auctioning off its business

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LOS ANGELES -- American Apparel set the date for the bankruptcy auction of its manufacturing, retail and wholesale business, likely delaying layoffs slated to affect as many as 3,457 employees in Southern California.

The Los Angeles clothier, which in November filed for bankruptcy for the second time, told workers Tuesday that the auction has ...Read more

Schultz says he'll stay 'deeply engaged' as Starbucks grows to 37,000 stores in next 5 years

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SEATTLE -- Starbucks plans to add 12,000 stores around the world, expand its high-end drinks and stores, and build on its mobile offerings -- including being able to place orders by voice command or messaging -- as part of the company's five-year plan to grow sales and profit.

The Seattle-based company presented a three-pronged approach to its ...Read more

SpaceX now hopes to return to flight in January, not this month

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LOS ANGELES -- SpaceX said it is now targeting early January for its first flight after a September explosion that destroyed one of its Falcon 9 rockets.

The Elon Musk-led company said in a statement Wednesday that it is "finalizing the investigation" into the explosion and is "working to complete the final steps necessary to safely and ...Read more

At Boeing's 777X wing factory, robots get big jobs

Business / Business News /

SEATTLE -- As the first 110-footlong wing skin panel for Boeing's new 777X jet moved slowly across a mammoth new factory building one recent morning, a small crew walked alongside, watching for any possibility of an expensive collision.

The "spotters" escorted the panel's bright-orange transport platform as it followed invisible tracks embedded...Read more

If you don't know what it is, don't click on it

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Q: Occasionally I get a pop-up message on my four-year-old PC that says "To check for new device software, connect your PC to the internet and press 'continue.'" There is no company logo on the message and I'm leery of it, so I've been pressing "cancel," which makes it close until another day. I have looked in Windows Task Manager, but I can't ...Read more

At Nom, telling stories through food is on the menu

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SAN FRANCISCO -- Tourists snap photos of a scrumptious foreign dish, families gather around the dinner table to catch up and novice cooks may turn to a video to learn how to whip up butternut squash soup or a rainbow grilled cheese.

For Nom CEO and co-founder Vijay Karunamurthy, cooking is a social activity that brings people together. Teaming ...Read more

Startup pitching new type of bond to fix California's wildfire and water woes

Business / Business News /

PINECREST, Calif. -- Deep in the Stanislaus National Forest, an hour's drive from the foothill town of Sonora, two forests stand side by side.

One is open and airy, with light that streams through gaps between vast sugar and ponderosa pines down to an almost bare forest floor. The other is so dense with brush and smaller trees that little sun ...Read more

Banks, retailers take swipes at each other over Dodd-Frank fees

Business / Business News /

Six years ago, when President Obama signed the Dodd-Frank Act into law, America's retailers got a big reduction in the debit-card fees they pay banks. Now, with Donald J. Trump set to take office, they're preparing for a lobbying fight to defend that legislative victory -- and the billions they've saved as a result.

Retail industry trade groups...Read more

Troy Wolverton: Sony's PlayStation VR shows virtual reality's promise and problems

Business / Business News /

In these early days of virtual reality, Sony's new PlayStation VR seems like the ideal product.

Facebook's Oculus Rift and HTC's Vive, which both debuted earlier this year, offer high quality, super-immersive VR experiences at steep prices. On the other end of the market, Samsung, Google and others are offering headsets powered by users' ...Read more

Why a US president needs a 'White House on wings'

Business / Business News /

WASHINGTON -- Sure, it has plush leather seats, a bed and abundant hot meals served on plates emblazoned with the presidential seal. But there are more critical reasons the president of the United States wants -- and needs -- Air Force One.

The aircraft is equipped to provide instant communications with leaders across the globe, protect against...Read more

Maker or Ride the Ducks vehicle in Seattle crash to pay up to $1 million

Business / Business News /

SEATTLE -- The Missouri-based manufacturer of the amphibious Ride the Duck tour vehicle that crashed on Seattle's Aurora Bridge last year, killing five people, has agreed to pay up to $1 million in civil fines for violating federal safety regulations, U.S. transportation officials announced Tuesday.

Ride the Ducks International (RTDI), which ...Read more

Study: Anti-gay, transgender laws could cost Texas $8.5 billion

Business / Business News /

AUSTIN, Texas -- Setting the stage for one of the most contentious debates awaiting next year's legislative session, the state's leading business group released a report Tuesday warning that bills targeting gay and transgender rights could severely hinder the Texas economy.

The Texas Association of Business study concluded that, if passed, such...Read more

Caterpillar CEO likes Trump's business focus, but not anti-trade 'rhetoric'

Business / Business News /

While concerned about some of President-elect Donald Trump's "rhetoric" on trade policy, Caterpillar chief executive Doug Oberhelman said Tuesday that he thinks those in the new president's administration "will use every tool they can get" to promote growth.

Oberhelman, the chairman of the Business Roundtable, said he thinks the team of ...Read more