Business

/

ArcaMax

Ken Lambert/The Seattle Times/TNS

Boeing layoff plan suggests deep white-collar job cuts

Business / Business News /

SEATTLE — The major Boeing layoffs announced last week will all be involuntary, meaning the company won’t offer severance packages to encourage employees to exit.

And according to the “Reduction In Force” plan presented to Boeing Commercial Airplanes managers Monday, members of the Machinists union will, for now, not be among the 10% of...Read more

Stellantis/TNS/TNS

Stellantis CEO to dealers on bumpy EV sales: 'Deal with it'

Business / Business News /

Stellantis NV CEO Carlos Tavares' message to dealers and suppliers struggling over profitability on a bumpy road to increasing adoption of electric vehicles is: "Deal with it."

Tavares' remarks on Monday during a media roundtable at the Paris Motor Show came mostly in the context of the European market, where Stellantis will have 40 all-...Read more

Eileen T. Meslar/Chicago Tribune/TNS

Chicago made a bit of money on NASCAR race in 2024

Business / Business News /

NASCAR’s second year in Chicago came with slightly sunnier skies, slightly fewer critics and an ad hoc deal that helped the city’s bottom line improve slightly, ending the big downtown race weekend a few hundred thousand dollars in the black.

That was an improvement over 2023, when critics not only ripped the inconvenience of closed roads ...Read more

Bizuayehu Tesfaye/Las Vegas Review-Journal/TNS

What could film studios in Southern Nevada do for the economy?

Business / Business News /

An economic study commissioned to gauge the impact of building a film and TV studio suggests one studio project could create 16,000 jobs and contribute about $1.2 billion to Nevada’s state economic output.

Warner Bros. Discovery said their proposal to build a 34-acre campus – called Warner Bros. Studios Nevada – in partnership with ...Read more

A new Denver data center could use as much water as 16,000 people every day. Should the city give it a tax break?

Business / Business News /

A proposed tax break for a new data center in north Denver is facing questions from city leaders concerned about the project’s water and energy needs in a city trying to reduce carbon emissions and conserve water amid a 20-year drought.

Denver-based CoreSite plans to build a new data center in the Elyria-Swansea neighborhood to provide ...Read more

Nelvin C. Cepeda/The San Diego Union-Tribune/TNS

Econometer: Was California too quick to abandon nuclear power?

Business / Business News /

Energy company Constellation announced last month it aims to restart the nuclear plant at Three Mile Island amid growing energy demand.

Three Mile Island, home of the infamous 1979 partial meltdown, is not the only nuclear site with a possible second life. Holtec International, an energy technology company, bought the closed Palisades nuclear ...Read more

Allen J. Schaben/Los Angeles Times/TNS

Judge approves Fisker bankruptcy plan favored by car owners

Business / Business News /

Fisker Inc. will wind down operations under a bankruptcy plan approved Friday that should allow car owners to drive their cars for years — while not paying anything to shareholders who were wiped out investing in the defunct Southern California electric-vehicle maker.

The plan approved by U.S. Bankruptcy Court Judge Thomas Horan in Delaware ...Read more

David Carson/St. Louis Post-Dispatch/TNS

Boeing has gotten tax breaks in Missouri to keep, add jobs. Has it delivered?

Business / Business News /

BERKELEY, Missouri — The Boeing Co. has cut a deal with St. Louis County to build a new manufacturing facility, add hundreds of jobs and keep thousands more in the region. In exchange, the company will get tens of millions of dollars in tax breaks.

Construction has already begun. And as that project begins, another is winding down. Ten years ...Read more

Aric Crabb/Bay Area News Group/TNS

Google monopoly: Prosecutors hint at company breakup, but analysts say it's unlikely

Business / Business News /

Federal prosecutors hinted at a breakup of Google in proposals to a federal judge set on stripping the Mountain View technology giant of its monopoly over internet search, but analysts believe court-ordered fixes will stop short of splitting up the company.

Google, officially deemed an illegal monopoly in August by the judge overseeing the U.S....Read more

Anda Chu/Bay Area News Group/TNS

Adobe launches AI video generator in race with OpenAI, Meta

Business / Business News /

Adobe Inc. unveiled artificial intelligence tools that can create and modify videos, joining Big Tech companies and startups in trying to capitalize on demand for the emerging technology.

One feature, integrated into Adobe’s video-editing software, Premiere, will let users extend video clips using generative AI, the company announced Monday ...Read more

Carline Jean/South Florida Sun Sentinel/TNS

Experts say Florida insurance market can handle another hurricane this year -- and stay healthy

Business / Business News /

Despite warnings from two leading insurance rating agencies that Hurricane Milton weakened or threatened Florida’s troubled home insurance market, local experts say the market can manage losses from Milton and are ready to cover yet another hurricane, if one should come.

AM Best and Fitch Ratings each issued reports last week warning that ...Read more

Ray Chavez/Bay Area News Group/TNS

Bay Area exodus: Poll finds nearly half of residents want to leave region's challenges behind

Business / Business News /

While growing up in the Bay Area, Michelle Hailey never imagined leaving it. But these days, as the West Oakland property manager grapples with increases in taxes and living expenses, and passes homeless encampments almost daily, she feels differently.

“I sometimes have dreams of the moving truck pulling up to get me out of here,” said ...Read more

06photo/Dreamstime/TNS

Motormouth: How long will hybrid battery last?

Business / Business News /

Q: I like to purchase cars new and hold them for 15 years. For my next purchase, I am contemplating a gas-electric hybrid vehicle. What is the probability that the battery pack will last 15 years? If it has to be replaced before 15 years, what is today's average replacement cost?

K.A., Syracuse, New York

A: The U.S. Department of Energy says ...Read more

Max Whittaker/Getty Images North America/TNS

California state workers are staying in their job longer and retiring later. Why?

Business / Business News /

California is on track to lose fewer employees to retirement than previous years, according to data for the first six months of 2024.

Preliminary numbers from the California Public Employees’ Retirement System showed that fewer state workers retired from civil service each month from January to June this year compared to the first half of ...Read more

Jose M. Osorio/Chicago Tribune/TNS

Ex-Loretto Hospital CEO charged in embezzlement scheme

Business / Business News /

The former CEO of Loretto Hospital has been charged in an embezzlement scheme that allegedly bilked millions of dollars from the small West Side safety-net hospital, even as the COVID-19 pandemic was raging.

George Miller, 73, was charged in a superseding indictment made public Friday with a single count of bribery conspiracy. An arraignment ...Read more

Karen Ducey/The Seattle Times/TNS

Boeing to cut 10% of workforce, stop most 767 production amid strike

Business / Business News /

Boeing will lay off 10% of its workforce in the coming months and cut its production amid a month-old strike that has left the company burning through cash as its factories sit idle.

The company said Friday it would end production of its Everett-built 767 freighter in 2027, after it completed current orders for 29 jets. It also delayed the ...Read more

U.S. Consumer Product Safety Commission/U.S. Consumer Product Safety Commission/TNS

Fisher-Price recalls more than 2 million swings after suffocation deaths

Business / Business News /

Toy brand Fisher-Price has recalled more than 2 million Snuga infant swings after five suffocations deaths of babies ages 1-3 months were reported.

According to the U.S. Consumer Product Safety Commission, the Snuga swings should never be used for sleeping and should never have beddings materials added tothem, because the headrest and body ...Read more

California's ban on certain hemp products clears early legal challenge

Business / Business News /

California's emergency ban on certain hemp products cleared a legal challenge Friday brought by cannabis businesses that sought to block the new rules.

Los Angeles County Superior Court Judge Stephen Goorvitch denied the businesses' request that he issue an order which would have temporarily allowed hemp sales while a lawsuit over the ban ...Read more

Dreamstime/Dreamstime/TNS

Insurers said they won't eliminate water damage coverage when taking out Citizens policies this fall

Business / Business News /

A Florida-based property insurer that was recently eliminating coverage for non-weather-related water damage from policies taken out of state-run Citizens Property Insurance Corp. has told agents and executives of Citizens that it will provide limited water damage coverage in planned takeouts in October and November.

In a phone call with a ...Read more

Marc Grasso/Boston Herald/TNS

Auto review: 2025 Lexus UX delivers compact luxury with flare

Business / Business News /

As Lexus continues to maximize Toyota Motor Co.’s excellent hybrid technology, it's not surprising that a smaller, more luxury-hybrid based SUV was in the cards.

Meet the 2025 Lexus UX300h Premium AWD. Wrapped in Copper Crest, an exquisite exterior color that glimmers in the sun, our test vehicle stood out with nice exterior curves. The UX300...Read more