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Biden to further limit Nvidia AI chip exports in final push

Business / Business News /

President Joe Biden’s administration plans one additional round of restrictions on the export of artificial intelligence chips from the likes of Nvidia Corp. just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.

The U.S. wants to curb the sale of AI chips used in data ...Read more

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US dockworkers, employers reach tentative deal to avert strike

Business / Business News /

A U.S. dockworkers union reached a tentative deal on a new labor contract with a group of ocean carriers and terminal operators that, if ratified would avoid a shutdown of East and Gulf coast ports next week.

“We are pleased to announce that ILA and USMX have reached a tentative agreement on a new six-year ILA-USMX Master Contract, subject ...Read more

Dania Maxwell/Los Angeles Times/TNS

Warner Bros. shakes up studio leadership amid film underperformance

Business / Business News /

The Warner Bros. film studio has shaken up its senior ranks after the under-performance of several movies last year, which has put pressure on the film team to increase its performance and profitability.

Veteran marketing chief Josh Goldstine and international film distribution head Andrew Cripps announced their exits internally Wednesday ...Read more

Internet calling: US government approves funding for smartphone broadband

Business / Business News /

Look up: Can you see the sky?

If so, chances are good you can connect to the internet with your smartphone without the worry of dead spots.

What’s new about that is that the federal government is now funding smartphone broadband access in remote areas as part of a $42.35 billion program to connect every American home and business with ...Read more

Wally Skalij/Los Angeles Times/TNS

Mark Gongloff: California fires expose a $1 trillion hole in US home insurance

Business / Business News /

The wildfires terrorizing Los Angeles this week have been like something out of a movie: vast, fast-moving, unpredictable, merciless. Their scope and nature have surprised even fire-jaded California.

They are also evidence of the sort of consequences that can be expected as the planet continues to heat up, consequences for which traditional ...Read more

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Global bond selloff leaves US Treasury yields flirting with 5%

Business / Business News /

The selloffs that keep flaring in the world’s bond markets are rapidly pushing yields toward key thresholds due to escalating worries about elevated inflation, tempestuous politics and swelling government debts.

In the U.S., the 10-year Treasury yield rose as high as 4.73% Wednesday, pushing it toward the 5% peak hit in October 2023, before ...Read more

Paul Brady/Dreamstime/TNS

Global bond selloff leaves US Treasury yields flirting with 5%

Business / Business News /

The selloffs that keep flaring in the world’s bond markets are rapidly pushing yields toward key thresholds on escalating worries about elevated inflation, tempestuous politics and swelling government debts.

In the U.S., the 10-year Treasury yield rose as high as 4.73% Wednesday, pushing it toward the 5% peak hit in October 2023, before ...Read more

Branden Eastwood/AFP/Getty Images North America/TNS

As legal case takes shape, US Steel wary of activist investors, mill shutdowns

Business / Business News /

After a year spent tussling with its closest domestic rival, U.S. Steel may finally have the chance to publicly detail its frustrations with Cleveland-Cliffs, even as the Ohio steelmaker rejects allegations that it did anything inappropriate.

A lawsuit filed by the Pittsburgh steelmaker Monday in the U.S. District Court for the Western District...Read more

Drew Angerer/AFP/GETTY IMAGES NORTH AMERICA/TNS

Meta is following X's playbook on fact-checking. Here's what it means for you

Business / Business News /

Facebook parent company Meta Platforms said Tuesday that it's ending a third-party fact-checking program in the United States, a controversial move that will change how the social media giant combats misinformation.

Instead, Meta said it would lean on its users to write "community notes" on potentially misleading posts. Meta's move toward crowd...Read more

Kim Hairston/Baltimore Sun/TNS

Constellation Energy nears $30 billion deal for Calpine

Business / Business News /

Constellation Energy Corp. is nearing an acquisition of Calpine Corp., people familiar with the matter said, in what would be one of the biggest ever deals in the power generation sector.

Baltimore-based Constellation is in discussions with Calpine’s private equity owners about the terms of a transaction that could value the company at about ...Read more

Kevin Clark/The Seattle Times/TNS

Struggling REI cuts hundreds of employees, axes tour and events business

Business / Business News /

REI is eliminating its outdoor classes, events and tours this month as it looks to prune unprofitable parts of its business while struggling to break even.

The Issaquah-based co-op will lay off 180 full-time and 248 part-time employees with the move, according to an email from CEO Eric Artz sent to employees Wednesday. Sixty-seven Washington-...Read more

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Keep yourself and your money safe from these four scams

Business / Business News /

The holiday season often includes gift-giving to loved ones and charitable causes, but authorities say the threat of scammers seeking to trick victims into giving them large sums of money and personal information persists year-round.

Here are some common scams and how to protect yourself from them:

'Pig butchering'

“Pig butchering” refers...Read more

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Royal Caribbean faces more legal woes after former crew member spied on passengers

Business / Business News /

Royal Caribbean is facing more legal trouble after a former crew member admitted to spying on cruise passengers, including children, in their bathrooms and showers after planting small cameras in their cabins to record them in states of undress.

A dozen potential victims, represented by Coral Gables, Florida-headquartered Aronfeld Trial Lawyers...Read more

Shae Hammond/Bay Area News Group/TNS

Bay Area innovator uses AI to tackle California students' declining math skills

Business / Business News /

As California students’ math and English test scores continue to trail pre-pandemic scores and students struggle to recover from COVID-19 learning loss, one Bay Area innovator has turned to artificial intelligence for a solution.

This year’s test scores data revealed that only about 35% of K-12 students in the state met or exceeded the ...Read more

Steven M. Falk/The Philadelphia Inquirer/TNS

Michael Hiltzik: The richest Americans finished paying their Social Security taxes last week. Most of us will pay all year

Business / Business News /

Here are some rough calculations of when some of America's richest individuals fulfilled their Social Security tax obligations for 2025: For Apple Chief Executive Tim Cook, it was at about 2 p.m. on New Year's Day. For McDonald's CEO Christopher Kempczinski, sometime on the morning of Jan. 3. For Elon Musk, it was sometime around 12:31 a.m. New ...Read more

Ray Chavez/Bay Area News Group/TNS

Soaring electricity bills could hobble California's green energy push: report

Business / Business News /

Soaring monthly electricity bills charged by PG&E and its utility siblings could hobble California’s quest for a green energy Holty Grail, a disquieting new state report shows.

PG&E, San Diego Gas & Electric and Southern California Edison levy charges for monthly bills that are far higher than the national average, making California ...Read more

Stifel to acquire European investment bank

Business / Business News /

ST. LOUIS — Stifel Financial Corp. on Monday announced it will acquire an investment bank focused on European health care and technology companies.

Terms of the deal with Paris-based Bryan, Garnier & Co. was not disclosed, but Stifel said in a release that the acquisition will boost its growth in the health care and technology sectors.

Bryan...Read more

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'Shark Tank' investor joins former Dodgers owner in last-ditch effort to buy TikTok

Business / Business News /

An investor from "Shark Tank" and a former owner of the Dodgers are teaming up to try to save TikTok before a nationwide ban is set to go into effect this month.

Kevin O'Leary, one of the venture capitalist "sharks" from the reality television show, said Monday that he had joined a group known as the People's Bid for TikTok that has been ...Read more

Irina Fedorova/Dreamstime/TNS

Experian credit bureau sued for allegedly failing to properly probe consumer complaints

Business / Business News /

Experian, one of the nation's largest credit bureaus, was sued Tuesday by the Consumer Financial Protection Bureau for allegedly improperly handling consumer disputes, which could lead to lower credit scores — one of a number of punitive actions the agency has taken in the waning days of the Biden administration.

The Costa Mesa-based company ...Read more

Dreamstime/Dreamstime/TNS

Cookware association sues Minnesota over PFAS ban, calling it unconstitutional

Business / Business News /

A cookware industry group is suing Minnesota in federal court over the state’s sweeping new PFAS ban, arguing the law is unconstitutional and discriminates against out-of-state manufacturers.

“Manufacturers will be forced to either keep their products out of the Minnesota market or treat Minnesota’s regulation as the national standard,”...Read more