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How the second Trump administration could affect the housing market

Business / Business News /

Across Southern California, and for that matter much of the country, housing is unaffordable for many, whether someone is trying to buy a house or rent an apartment.

Voter concern over the nation's cost of living, including housing, appears to have played a big role in returning Donald Trump to the White House.

Now, can he fix it?

During the ...Read more

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New campaign with actor Steve McQueen's family encourages passing down Red Wing boots to heirs

Business / Business News /

Legendary movie star Steve McQueen loved the fast track, and always wore the same pair of Red Wing boots.

Minnesota’s Red Wing Shoes partnered with his family, in particular granddaughter Molly McQueen, on a new campaign that celebrates the King of Cool by promoting the ideas of legacy clothing and sustainability.

The newest “Will your ...Read more

Real estate Q&A: My partner wants to cash out of rental we both own. What are my options?

Business / Business News /

Q: A while back, I bought a property with a partner, and we each paid part of the purchase price. Since then, I have been taking care of it and paying the taxes and insurance. We have been splitting the profit from renting it. Now, my partner wants to quit the partnership and cash out. How would this work? — Anonymous

A: When people own ...Read more

This is how GM, Ford executives are thinking about the incoming Trump administration

Business / Business News /

General Motors Co. and Ford Motor Co. are emphasizing their ability to be flexible in responding to consumer demand in light of potential policy changes under President-elect Donald Trump's administration.

The incoming administration could see the elimination of the Inflation Reduction Act's tax credit of up to $7,500 on plug-in vehicles, ...Read more

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Nvidia forecast fails to meet loftiest estimates for AI star

Business / Business News /

Nvidia Corp., the chipmaker at the heart of an artificial intelligence boom, delivered a revenue forecast that failed to meet the highest expectations, suggesting that the company’s dizzying growth run has its limits.

Fiscal fourth-quarter sales will be about $37.5 billion, Nvidia said in a statement Wednesday. Though the average analyst ...Read more

Parmy Olson: Google Chrome's divorce is the DOJ's antitrust warm-up act

Business / Business News /

News broke this week that the U.S. Department of Justice wants to force Alphabet Inc.’s Google to sell Chrome, its dominant web browser. That has led to much head scratching in the tech industry. Sure, Chrome is an important moat for Google’s business, but is it really the source of the company’s power? And if a company buys Chrome for an ...Read more

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Apple urges judge to dismiss US antitrust lawsuit at early stage

Business / Business News /

Apple Inc. argued in federal court that a U.S. judge should dismiss the Justice Department’s antitrust lawsuit at an early stage because it failed to state how the iPhone maker’s alleged monopoly has harmed any consumers or developers.

The suit accuses the iPhone maker of violating antitrust laws by blocking rivals from accessing hardware ...Read more

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General Mills to engage regulators on food dyes targeted by RFK Jr.

Business / Business News /

General Mills Inc. is planning to engage federal officials over potential restrictions on food dyes that it uses in some of its cereals, as Robert F. Kennedy Jr., the nominee to run the Department of Health and Human Services, calls for them to be removed.

“Because this is always an evolving space, we work in close partnership with ...Read more

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Delta plans sharper focus on premium travelers, selling extra services

Business / Business News /

NEW YORK — Delta Air Lines is doubling down on its focus on premium travelers and courting customers who are willing to pay for extra services.

The growing wealth of high-income travelers is driving demand for more premium services, according to Delta.

The Atlanta-based airline during a media briefing Tuesday and during its annual Investor ...Read more

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Delta to serve Shake Shack burgers in first class on some flights

Business / Business News /

Delta Air Lines will soon serve Shake Shack cheeseburgers to first-class customers on certain flights out of Boston — including to Atlanta.

The first-class meal option will be offered starting Dec. 1 on routes of more than 900 miles out of Boston Logan International Airport. The airline said it “plans for expansion to other U.S. markets ...Read more

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Apple urges judge to dismiss US antitrust lawsuit at early stage

Business / Business News /

Apple Inc. argued in federal court that a U.S. judge should dismiss the Justice Department’s antitrust lawsuit at an early stage because it failed to state how the iPhone maker’s alleged monopoly has harmed any consumers or developers.

The suit accuses the iPhone maker of violating antitrust laws by blocking rivals from accessing hardware ...Read more

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Ford to reassign 400 Bronco plant workers, cut 4,000 jobs in Europe

Business / Business News /

Ford Motor Co. on Wednesday said it's reassigning about 400 workers to other southeast Michigan plants for reduced production at its Bronco plant in Wayne, Michigan, and is reducing its workforce by 4,000 in Europe by the end of 2027.

Although Bronco SUV sales were up 105% year-over-year in October, deliveries are down 10% overall in 2024. The ...Read more

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Target stock tanks as customers keep spending in check

Business / Business News /

Heading into the all-important holiday months, budget-conscious Target customers shopped more but didn’t necessarily spend more.

As a result, the retailer missed its sales and earnings expectations for the quarter that ended in October; profits declined 12% year over year to $854 million.

Investors punished Target on Wednesday, tanking the ...Read more

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If the Fed is cutting interest rates, why are mortgages and business loans costing more?

Business / Business News /

While the Federal Reserve has cut its short-term interest rate target by three-quarters of a percentage point since mid-September, 30-year fixed-rate home mortgage rates rose by almost as much during that period and have lately averaged around 6.8%, higher than they were when the Fed began cutting, according to Freddie Mac, the home-loan ...Read more

Minnesota homeowners say they were hit with huge hidden fees when going solar

Business / Business News /

It was an interest rate so low that John Ahnemann felt he couldn’t turn it down.

So Ahnemann, a real estate agent living in St. Paul’s Midway neighborhood, signed the paperwork last year for a $46,500 loan at 3.49% interest to put 17 solar panels on his house and garage.

“I have no idea how they’re able to do this,” he said, ...Read more

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J.D. Power: More than one quarter of bank customers experienced fraud

Business / Business News /

Having fraudulent transactions on your bank account can be a scary and frustrating experience, even traumatic. But if you have a bank and financial institution — be it a bank or credit union — that cares about the security of your money, resolving the issue well could give you a lasting peace of mind.

That’s likely why 92% of bank ...Read more

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Google's Chrome to fetch up to $20 Billion If judge orders sale

Business / Business News /

Alphabet Inc.’s Chrome browser could go for as much as $20 billion if a judge agrees to a Justice Department proposal to sell the business, in what would be a historic crackdown on one of the world’s biggest tech companies.

The department will ask the judge, who ruled in August that Google illegally monopolized the search market, to require...Read more

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Comcast to spin off MSNBC, CNBC and cable channels

Business / Business News /

Comcast Corp. is cleaving off a huge chunk of its television portfolio to create a new company composed of its cable channels, including MSNBC and CNBC.

The Philadelphia-based cable giant plans to unveil the spinoff as well as a new corporate structure for NBCUniversal on Wednesday morning, according to three people familiar with the matter who...Read more

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Colorado Democrats plan bill to remove state's unique barrier to union organizing

Business / Business News /

Flanked by dozens of union members, a group of Colorado Democrats unveiled legislation Tuesday to remove a unique barrier to union organizing in the state.

The proposal, which will not be introduced until the legislative session starts in early January, would repeal an 81-year-old requirement that unions in Colorado pass a second election to ...Read more

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Trump team targets auto mileage rules he blasted as 'EV mandate'

Business / Business News /

President-elect Donald Trump’s incoming administration is looking to slash fuel-efficiency requirements for new cars and light trucks as part of plans to unwind Biden policies he’s blasted as an “EV mandate,” according to people familiar with the matter.

Trump advisers plan to reexamine fuel economy requirements that were finalized in ...Read more