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Las Vegas real estate market on 'wild ride' for past 5 years: Zillow

Business / Business News /

Las Vegas’ residential real estate market has been on a “wild ride” for the past five years but could finally be getting off the roller coaster ride that started during the pandemic, according to new statistical analysis from Zillow.

The Las Vegas market recently entered more “balanced territory,” said Kara Ng, a senior economist with...Read more

Alejandro A. Alvarez/The Philadelphia Inquirer/TNS

Other cities want less self-storage. Philadelphia can't get enough of it

Business / Business News /

PHILADELPHIA — On a windblown stretch of the Delaware riverfront in late September, an array of local leaders lined up to praise a new use for Pier 40.

After sitting derelict for years, the monumental Beaux-Arts remnant of Philadelphia’s industrial history was sold to PrimeSpace Capital, and the New York-based developer refurbished its ...Read more

Alex Kormann/Minnesota Star Tribune/TNS

General Mills' $1.2B bet on pet treats falls victim to poor timing

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When General Mills paid $1.2 billion for Tyson’s pet treats business in 2021, CEO Jeff Harmening predicted a “long runway of strong, profitable growth ahead.”

Three years later, the maker of Blue Buffalo is downgrading the value of its True Chews and Top Chews brands over “lower future sales and profitability projections,” per a ...Read more

Brian van der Brug/Los Angeles Times/TNS

After a century, concrete plant that helped build LA makes way for a deluxe tower

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If the new apartment tower had been planned for another plot of land, chances are good the concrete plant in the middle of the city would have helped build it.

But, as it happens, the century-old facility on La Brea Avenue that has provided concrete for buildings and roads across the Los Angeles region sat where the tower is to go up.

Now, the...Read more

Monica Herndon/The Philadelphia Inquirer/TNS

Older home buyers, more cash, and (relatively) fewer first-timers: A national survey sheds light on the state of the housing market

Business / Business News /

Rising home prices are continuing both to benefit established homeowners and to challenge buyers trying to purchase their first home, according to the National Association of Realtors’ annual report surveying buyers and sellers.

“The U.S. housing market is split into two groups: first-time buyers struggling to enter the market and current ...Read more

Renée Jones Schneider/Minnesota Star Tribune/TNS

More Minnesotans face 'pharmacy deserts' with chain drugstore closures

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KB Brown’s phone hasn’t stopped ringing since Walgreens shut its W. Broadway store last year, leaving one pharmacy to serve 67,000 residents in the north Minneapolis area where he lives and runs his graphics design business.

With Walgreens gone — and CVS shutting four other area stores — Brown, at least three times a week, transports ...Read more

Stacey Wescott/Chicago Tribune/TNS

Economic opportunity or environmental burden? Massive proposed real estate project ignites debate in Chicago

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A massive commercial real estate project proposed for Chicago’s Southeast Side remains in limbo as its planners battle environmental activists over how best to rebuild the area’s economy.

A group backed by the Ozinga family wants to burrow several hundred feet beneath a contaminated former steel mill site and create a 6 million-square-foot ...Read more

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Elon Musk went all-in to elect Trump. What a second Trump presidency could mean for big tech

Business / Business News /

SAN FRANCISCO — On election night, as Republican Donald Trump inched closer to reclaiming the U.S. presidency, some tech executives and venture capitalists rejoiced.

“The people of America gave@realDonaldTrump a crystal clear mandate for change tonight,” Elon Musk posted on his social media platform X, formerly known as Twitter.

The ...Read more

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Stellantis will cut 1,100 jobs at Toledo's Jeep Gladiator plant

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Stellantis NV said Wednesday it plans to cut a shift at its Toledo plant that builds Jeep Gladiator pickups, which will result in about 1,100 indefinite layoffs by early next year.

The move from two to one shifts does not come as a surprise, with Gladiator sales slowing this year and the automaker seeking to slash pent-up inventories of the ...Read more

LiPo Ching/Bay Area News Group/TNS

Trump victory fires financial markets sharply higher; EV maker Tesla jumps 15%

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Financial markets caught fire the day after Republican Donald Trump’s victory, a signal investors think the next president will be good for business.

The Dow Jones Industrial Average rocketed 1,508 points higher in Wednesday trading as other indices also notched big gains. Tesla Inc. shares surged as much as 15% as investors wager the ...Read more

Meri Simon/Bay Area News Group/TNS

San Jose staffing firm co-owner pleads guilty to H-1B visa fraud scheme

Business / Business News /

A Santa Clara, California, man pleaded guilty this week to fraud for illegally obtaining H-1B visas to use for his company that provides workers for Bay Area technology firms.

Kishore Dattapuram, 55, entered his guilty plea Monday in U.S. District Court in San Jose, California. Along with two other men, Santosh Giri of San Jose, and Kumar ...Read more

Tyger Williams/The Philadelphia Inquirer/TNS

This SAP industry center uses artificial intelligence to streamline manufacturing

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When Hurricane Helene damaged western North Carolina in September, filling medical facilities with people who couldn’t be cared for at home, Jim Polk, a tech executive at Exela Pharmaceutical Sciences in Lenoir, North Carolina, got a call from the Atrium Health hospital group in flooded Asheville. Could his company make intravenous saline bags...Read more

Kilmermedia/Dreamstime/TNS

Lyft fined for duping would-be drivers over potential pay

Business / Business News /

When COVID-19 vaccines started becoming widely available in early 2021 and demand for ride-hailing services began to recover, Bay Area company Lyft launched a nationwide campaign to recruit drivers with promises of lucrative pay.

“Start driving and earn up to $44/hour,” said an online Lyft ad targeting San Francisco, while another ad ...Read more

Samuel Corum/Getty Images North America/TNS

Tech giants brace for AI revamp, antitrust pullback in Trump 2.0

Business / Business News /

Silicon Valley is bracing for a vastly different relationship with the U.S. government as Donald Trump returns to the White House with promises to undo many of his predecessor’s policies and Elon Musk poised to play an influential role.

On artificial intelligence, Trump has vowed to rip up an executive order from President Joe Biden aimed at ...Read more

Bay Area loses hundreds more tech jobs as region's cutbacks persist

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Fresh waves of layoffs are poised to eliminate the jobs of several hundred tech workers in the Bay Area, a disquieting series of setbacks that suggest the wobbly sector’s staffing reductions have yet to run their course.

The current cutbacks for the Bay Area tech industry are slated to eliminate more than 400 jobs, according to this news ...Read more

Jane Tyska/Bay Area News Group/TNS

Apple illegally threatened workers over their talk about pay and remote work, feds charge

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One Apple employee was allegedly threatened with unspecified reprisals if they talked about their performance bonus. Another was purportedly ordered to delete a post on social media about how to continue working remotely at the company. One was allegedly told to stop talking about pay on internal messaging systems and warned that the tech giant ...Read more

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FTC lawsuit accuses cash app Dave of charging hidden fees

Business / Business News /

The Federal Trade Commission is accusing Los Angeles-based cash app Dave Inc. of misleading its financially vulnerable customers about fees it charges and the amount of money it gives out.

In a complaint filed Tuesday, the agency alleges that while Dave advertises it offers $500 advances "instantly," only a "miniscule" number of customers ...Read more

Timothy A. Clary/AFP/GETTY IMAGES NORTH AMERICA/TNS

US stocks soar as Trump's victory is met with early investor enthusiasm

Business / Business News /

U.S. stocks soared Wednesday in the wake of Donald Trump's sweeping election victory as investors priced in potential gains for a wide range of industries and a near-term boost to economic growth.

In early trading, the Dow Jones industrial average surged more than 1300 points, or about 3%, with expectations that a second Trump presidential term...Read more

Antonio Perez/Chicago Tribune/TNS

After delays, Chicago begins automated ticketing of drivers parked in bike, bus lanes

Business / Business News /

CHICAGO — Owners of vehicles parked in bike and bus lanes downtown can now receive warnings and, soon, tickets in the mail, as a delayed program to test automated ticketing for the parking infractions has begun.

The pilot program, which uses cameras on eight city vehicles to enforce parking violations, began Monday. For the first month ...Read more

Cadillac/Cadillac/TNS

GM could find opportunity in chaotic European market with EV play

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DETROIT — General Motors Co. is pushing ahead with its reentry into Europe using a direct-to-consumer electric-vehicle sales model despite a slumping market there — and experts contend the play could pay off for the Detroit automaker.

GM started selling the Cadillac Lyriq EV in Europe last year and has opened what it calls Cadillac City ...Read more