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FTC, state AGs sue John Deere, say farmers aren't allowed to fix their own tractors

Business / Business News /

Minnesota Attorney General Keith Ellison is suing iconic tractor manufacturer John Deere over farmers’ rights to repair their own machines.

Citing the frustration of farmers who are forced to rely on authorized dealers to fix broken-down tractors, Ellison joined the Federal Trade Commission and the Illinois attorney general in charging Deere ...Read more

GM signs supply agreement with Norwegian synthetic graphite manufacturer

Business / Business News /

General Motors Co. has signed an agreement with a Norwegian synthetic graphite manufacturer for large-scale production for electric vehicle batteries, the companies said Wednesday.

The "multibillion"-dollar deal, according to a news release, covers supply of synthetic anode graphite toward 2033. Ultium Cells LLC, GM's battery joint venture with...Read more

Wally Skalij/Los Angeles Times/TNS

State Farm to offer renewals to policyholders affected by LA County fires

Business / Business News /

State Farm said Wednesday that it will offer renewals to residential policyholders affected by the Los Angeles County fires that it had previously planned to drop.

The decision applies to policies held by homeowners, owners of rental dwellings and residential community associations, which include condominium associations.

The figure includes ...Read more

Meri Simon/Bay Area News Group/TNS

H-1B visa: South Bay executives must be re-charged with visa fraud, judges rule

Business / Business News /

Two South Bay executives who temporarily escaped prosecution over alleged H-1B visa fraud are back in the hot seat again, after an appeals court reversed a lower-court ruling that tossed out their indictment.

The criminal charges against Namrata Patnaik of Saratoga and Kartiki Parekh of Santa Clara must be reinstated, a three-judge panel in the...Read more

Jennifer Buchanan/The Seattle Times/TNS

Crisis-hit Boeing delivered less than half as many jets as Airbus in 2024

Business / Business News /

Year-end jet orders and deliveries figures released Tuesday by Boeing reveal how much Airbus dominated its crisis-ridden U.S. rival in 2024.

In the smaller narrowbody jet sector that services domestic and intermediate-range flights, Airbus delivered 602 of its A320neo jet family aircraft while Boeing delivered just 260 of the 737 Maxes that ...Read more

Marcus Yam/Los Angeles Times/TNS

Bill meant to help stabilize California insurance market has support. When could it pass?

Business / Business News /

SACRAMENTO, California — A bill meant to help stabilize California’s troubled insurance market has key early support as wildfires continue to cause devastation in and around Los Angeles.

The measure, introduced by Democratic Assembly members Lisa Calderon and David Alvarez, provides a financial backup plan for the state’s insurer of last ...Read more

Nhat V. Meyer/Bay Area News Group/TNS

Stanford AI expert's credibility shattered by fake, AI-created sources: judge

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A federal court judge has thrown out expert testimony from a Stanford University artificial intelligence and misinformation professor, saying his submission of fake information made up by an AI chatbot “shatters” his credibility.

In her written decision Friday, Minnesota district court Judge Laura Provinzino cited “the irony” of ...Read more

Keith Birmingham/The Orange County Register/TNS

Disneyland hotels housing 100 Disney employees displaced by wildfires

Business / Business News /

The Walt Disney Company is helping hundreds of employees impacted by the deadly and devastating wildfires that destroyed swaths of Pacific Palisades and Altadena, California, with temporary housing, clothing and monetary relief.

At least 64 Disney employees lost their homes in the Palisades and Eaton fires and hundreds more remain evacuated ...Read more

Bob Daemmrich/ZUMA Press Wire/TNS

US closes safety investigation of GM's Cruise robotaxi unit

Business / Business News /

U.S. auto safety regulators ended a federal investigation into Cruise robotaxis without taking action, removing an overhang weeks after General Motors Co. decided to shutter the struggling business.

The National Highway Traffic Safety Administration had opened a preliminary evaluation in late 2023 to determine potential safety risks from Cruise...Read more

Juan Figueroa/The Dallas Morning News/TNS

US core CPI finally eases, rallying bets for Fed to cut sooner

Business / Business News /

U.S. consumer prices rose in December by less than forecast, a welcome stepdown that helped arrest a deep selloff in bond markets and reinvigorate bets that the Federal Reserve will cut interest rates sooner than previously thought.

The so-called core consumer price index — which excludes food and energy costs — increased 0.2% after rising ...Read more

Gina Ferazzi/Los Angeles Times/TNS

LA-based Farmers tops survey of big California home insurers that decline the most claims

Business / Business News /

Three of California's largest home insurance companies declined nearly half of their claims in 2023, well above the national average, according to a ratings agency report reviewed by The Times.

In a survey of national claims handled by the state's leading home insurance companies, affiliates of Los Angeles-based Farmers Insurance topped the ...Read more

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Elon Musk sued by SEC over late 2022 disclosure of Twitter stake

Business / Business News /

The U.S. Securities and Exchange Commission sued Elon Musk on Tuesday, alleging failure to timely disclose that he bought more than 5% of Twitter's stock in 2022 before he took over the social media company.

The lawsuit, filed in a federal court in Washington, accuses Musk — tapped by Trump to co-head a so-called "Department of Government ...Read more

Gina Ferazzi/Los Angeles Times/TNS

For uninsured fire victims, the Small Business Administration offers a rare lifeline

Business / Business News /

As wildfires continue to burn around Southern California, thousands of business owners, homeowners and renters are confronting the daunting challenge of rebuilding from the ashes. For some number of them, the road ahead will be all the more difficult because they didn't have any or enough insurance to cover their losses. For them, the U.S. Small...Read more

Brian van der Brug/Los Angeles Times/TNS

California and Bay Area hotel development flops as market nosedives

Business / Business News /

SAN JOSE, Calif — Hotel development nosedived in California and the Bay Area in 2024, fresh evidence the statewide lodging market still suffers from an array of post-coronavirus economic maladies, a new report shows.

Atlas Hospitality Group disclosed in a new report that the decline affected three types of hotel projects: hotels that were ...Read more

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Intel to turn venture arm into separate firm with new name

Business / Business News /

Intel Corp., the once-dominant chipmaker struggling to revive its business and finances, plans to turn its venture capital arm into a separate fund with a new name.

The chipmaker will continue to be an “anchor investor in the new company,” according to a statement Tuesday. The division, currently known as Intel Capital, has more than $5 ...Read more

Al Diaz / Miami Herald Staff/Miami Herald/TNS

Two years after reforms, Florida lawmakers share insurance horror stories

Business / Business News /

Florida’s insurance commissioner might not want the Legislature to pursue any major new reforms during the upcoming session, but lawmakers on House and Senate committees that determine which bills advance might not be so patient.

Two years after voting to enact reform bills aimed at reducing rates of claims abuses and litigation against ...Read more

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St. Louis small businesses call TikTok life-changing. It might soon disappear

Business / Business News /

ST. LOUIS — A few years ago, just before Super Bowl Sunday, Dee Crawford posted a video to the social media app TikTok of her printing a football sweatshirt for her homespun apparel company.

Within two weeks, she had 500 new orders. The video had gone viral, she said. Six months later, she quit her corporate job in finance to pursue the small...Read more

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World readies for Trump tariffs even before his White House return

Business / Business News /

Donald Trump’s inauguration promises to usher in an era of upheaval in global commerce, forcing governments around the world to scramble in preparation for a tariff onslaught even before he’s back in the White House.

Soon after calls to congratulate the president-elect on his Nov. 5 victory, officials began quietly looking for ways to ...Read more

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FDA publishes long-awaited front-of-package labeling proposal

Business / Business News /

With just days left in the Biden administration, the Food and Drug Administration on Tuesday unveiled its highly anticipated proposal to require manufacturers to display nutrition information on the front of packaged foods.

The proposal is several years in the making. The agency in 2022 announced its intention to develop a rule on such ...Read more

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Retail woes widen as Macy's and Rite Aide reveal Bay Area job cuts

Business / Business News /

Macy’s has revealed that the company’s workers in the Bay Area and California face the loss of several hundred jobs due to the iconic retailer’s decision to close 66 stores nationwide and several in this state.

Separately, Rite Aide has disclosed it will shut the doors of one of its San Jose stores, a move that will eliminate more than a ...Read more