Nike Inc. is reviewing its human-resources department and instituting mandatory manager training amid employee complaints of favoritism, a difficult HR chief and inappropriate conduct.
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Saturday, March 31, 2018
Uber to Shutter Rush Delivery Service
Uber Technologies said it will shutter a same-day parcel and package delivery service called Rush that once was viewed as a viable threat to everything from FedEx to small couriers.
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How Apple, Amazon and Others Are Trying to Gain on Spotify
Spotify, the Swedish company set to go public next week, is the global leader in music streaming, but several competitors are working to differentiate their service to win over artists and listeners.
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Friday, March 30, 2018
Northrop Grumman Revises Satellite Procedures
Northrop Grumman has implemented major changes in satellite production as a result of its high-profile mistakes building NASA’s troubled James Webb Space Telescope.
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Walmart Founding Family Faces Test in Humana Acquisition Talks
Walmart Inc., the retail giant known for disciplined spending and borrowing, doesn’t have much cash on hand in early talks to acquire Humana Inc.—which could lead to some uncertain scenarios for the founding family.
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AT&T-Time Warner Trial's Early Focus on Turner Channels
The Justice Department’s case against the merger of AT&T and Time Warner began with some bright spots during the first full week of witness testimony, but potential bumps were hit as the trial wore on. AT&T trial live coverage
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After Tariffs, Florida Company's Deal May Boost U.S. Solar-Panel Manufacturing
Utility company NextEra Energy is expanding a deal to buy millions of solar panels from a Chinese manufacturer building a new Florida plant, a move that comes after the U.S. announced tariffs on imported solar products.
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In the Battle for the American West, the Cowboys Are Losing
Ranchers who rely on public land to raise cattle say they have shrinking access to grass and water because of an array of regulations. Government officials say they are protecting natural resources or giving more access to the public for hiking and other activities that fuel the fast-growing recreation industry.
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Foxconn Profit Up As iPhone Production Glitches Fade
Foxconn Technology posted a better-than-expected 4% rise in fourth-quarter net profit, bouncing back after its biggest customer Apple overcame earlier production troubles for the iPhone X.
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Retail Squeeze Leads Walmart to Explore Acquiring Humana
Walmart, facing shrinking profits, is exploring an acquisition of Humana that would push far beyond its big-box roots. But buying a health insurer would put the retailer in a complicated, highly regulated business.
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Washington Woes Aside, Huawei Is Determined to Lead on 5G
Far from Washington, where the government has called Huawei a national-security threat, the world’s largest maker of cellular-tower equipment is trying to dominate discussions on the development and design of the next generation of mobile networks, dubbed 5G.
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Latham Searches for New Boss After Chairman's Abrupt Exit, Drop in Revenue Ranking
Latham & Watkins lost its chairman last week. Then, it lost its rank as the world’s highest-grossing law firm. The two events are putting pressure on the firm to name a new leader and move past the distractions.
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'Ready Player One': Can a Movie Speed Adoption of VR?
Ernest Cline, the author of “Ready Player One,” says Steven Spielberg’s movie adaptation will “change the speed with which virtual reality is adopted.” This video takes a look at just how realistic that is.
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ACLU Claims Port Union Discriminates Against Pregnant Dockworkers
Class-action filing at federal regulatory agency charges workers lag behind in job opportunities after taking family leave.
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China's New Cyber Rules Add to Cost of Doing Business There
Under rules that take effect Saturday, businesses can use only government-approved virtual private networks to bypass the country’s internet restrictions.
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Fed's Harker Defends Regional Fed Chief Hiring Process
Federal Reserve Bank of Philadelphia President Patrick Harker defended how the central bank’s regional reserve bank presidents are chosen, pushing back against some of the arguments for change.
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As Businesses Beg for Low-Skill Visas, White House Is in a Bind
Demand for low-skilled worker visas for the summer season starting Sunday is again far outstripping supply, with the Trump administration forced to choose between helping businesses seeking more visas or trying to save those jobs for American workers.
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Thursday, March 29, 2018
Trump Says He Might Delay South Korea Trade Talks to Pressure the North
The president threatened Thursday to delay trade negotiations with South Korea to use them as leverage for reaching a deal with North Korea.
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Anglo American CFO Strives For Fiscal Discipline
Finance chief set strict financial targets, pledged to stick to one big project at a time to keep company from repeating past overspending mistakes.
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How Tillerson's Exxon Designed an Oil Deal to Skirt Anticorruption Scrutiny
The big driller was excited about offshore prospects in west Africa but worried about “issues regarding U.S. anticorruption laws.”
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Here's What You May Find in Your Facebook Data
In the wake of the Cambridge Analytica scandal, people are starting to ask, specifically, how much personal information is Facebook sharing? Here is something you can do to get some answers: Download your Facebook data.
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House-Flipper Opendoor Raising Funds at $2 Billion Valuation
Open Door Labs, which buys and resells houses, is in talks with investors to raise at least $200 million at a roughly $2 billion valuation, a deal that would help it purchase more homes and expand to new cities, according to people familiar with the company.
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Microsoft Diminishes Windows Role in Cloud-Focused Reorganization
Microsoft is moving its Windows franchise from the center of its operations, reorganizing its business around its growing Azure cloud-computing operations and its stalwart Office productivity business.
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Lawyers for Uber Victim's Family Say Issue Is 'Resolved'
A law firm hired by the family of an Arizona woman who died after being struck by a self-driving Uber vehicle said the issue “has been resolved.”
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Staff at The Onion Announce Plans to Unionize
Editorial and video staffers at the Onion and its sister sites, Clickhole and A/V Club, have announced that they are unionizing, at a time when controlling shareholder Univision is exploring extensive cost cuts at its digital properties.
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Lower-Income Americans Drive Consumer Sentiment
U.S. households became less confident about the economy in March than originally thought, but their assurance remained at a 14-year high because of rising optimism among lower-income Americans.
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U.S. Annual Inflation Posts Strongest Increase in Nearly a Year
Prices rose in February and annual inflation edged closer to the Federal Reserve’s 2% target, a sign of strengthening U.S. inflation pressures that could encourage the Fed to continue lifting interest rates this year.
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Fed's Harker Lifts His Outlook for Interest Rates
Philadelphia Fed President Patrick Harker said he expects officials will need to raise short-term interest rates a total of three times this year, up from his earlier projection of two, due to stronger inflation.
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U.S. Incomes Rose More Than Consumer Spending in February
Americans’ incomes increased more than their outlays for the second straight month in February, a sign that higher incomes aren’t yet showing up in consumer spending
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U.S. Jobless Claims at Lowest Level Since 1973
The number of Americans claiming new unemployment benefits fell last week to the lowest level since 1973, signaling continued health in the labor market.
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Trump Slams Amazon.com
President Donald Trump criticized Amazon.com Inc. via Twitter, saying the e-commerce giant was “putting many thousands of retailers out of business.”
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Bangladesh Factories Remain Unsafe Five Years After Tragedy
Five years after a factory collapse killed 1,100 workers in Bangladesh’s worst industrial disaster, organizations representing Western brands say that authorities in the country aren’t ready to go it alone to ensure safety standards are up to scratch.
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Takeda Shares Fall as Investors Queasy Over Possible Bid for Shire
Takeda Pharmaceutical shares fell 7.4% to their lowest level in more than a year, over concerns that the potential blockbuster deal to acquire Shire was too much for the Japanese company to swallow.
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Nvidia Feels the Pain of Tech's Great Success
Nvidia investors are learning that the chipmaker’s big new market opportunities also bring big new risks.
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Clock Is Ticking Faster at Tesla
Tesla will soon need money again. The trouble is, raising it suddenly looks a lot more challenging.
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BMW, Daimler Team Up on Tech to Face Down Silicon Valley
Daimler and BMW, fierce rivals in the luxury-car business, are joining forces to try to fend off competition from tech giants like Uber to their on-demand transportation services.
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Shire Would Be a Big Pill for Takeda to Swallow
The Japanese pharmaceutical company is being opportunistic in considering a bid for London-listed Shire.
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Oil Giant Shell Wants to Sell You Electricity
British-Dutch oil-and-gas company Shell is on a spree of small but strategic acquisitions in an area oil firms have long avoided: the power sector.
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Toyota to Team Up With Suzuki in India
Toyota Motor and Suzuki Motor said they would team up in India, swapping models to help each other boost sales in the rapidly growing market.
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Tesla Bonds Reach New Low, Stock Falls Further After Downgrade
Selling in Tesla bonds intensified, driving prices to fresh lows, a day after the electric-vehicle maker suffered a credit-rating downgrade.
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Wednesday, March 28, 2018
Apple CEO Tim Cook Calls for Privacy Regulation
Apple CEO Tim Cook called for privacy regulation, saying consumers should have more visibility into not only what personal information they share online but how companies stitch together that information to better understand their users.
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What's on Your Mind? Bosses Are Using AI to Find Out
Human-resource departments are becoming a bit less human as companies turn to artificial intelligence for help with hiring and firing—and to learn how employees really feel about their bosses.
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Truck Driver Salaries Rising on Surging Freight Demand
Report says wages rose up to 18% in past four years and benefits are also on the upswing, adding to higher logistics costs in a tight trucking market.
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#DeleteFacebook? Get Ready for Joy, Despair, Agony, Relief
Going cold turkey might get you more free time but puts you out of touch with high school acquaintances and customers; first, write a post about the idea.
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Hospital Giants Halt Merger Talks
Ascension and Providence St. Joseph have halted talks about a possible merger, shelving for now the prospect of a combination that would have created the nation’s largest owner of hospitals.
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What's at Stake in Tariff War: WTO's Future
The U.S. and its allies are tussling over the world trade body’s role even as they seek to curb China’s state-backed capitalism.
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Warning Sign: Tech Stocks Are Dominating Global Markets Like Never Before
The clobbering tech shares have taken in recent days has magnified not only how influential these companies have become in people’s everyday lives, but how much sway they’ve gained in global stock markets.
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The Rare Case Where Airlines and Passengers Both Win
What the surge of nonstop coast-to-coast flights says about the state of flying in the U.S.
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Treasury to Use National Security Laws to Shield U.S. Tech From China
The U.S. Treasury Department is planning to use laws designed to address national emergencies to block Chinese firms from acquiring advanced U.S. technology.
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N.Y. Fed Criticized in Likely Pick of Next Leader
The likely elevation of San Francisco Fed President John Williams to lead the New York Fed has sparked a degree of public criticism rarely seen in the world of regional central-bank chiefs.
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U.S. Fiscal Future Won't Be Like Its Carefree Past
The U.S. is blessed with extraordinary advantages when it comes to borrowing. Yet it is about to experience a dramatic loss of financial freedom because it is shrinking its tax base just as interest expenses surge and social programs get harder to cut.
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Equifax Taps Former GE Executive Begor as CEO
Equifax has appointed former GE executive Mark Begor as CEO, the second change to the position since the credit-reporting company disclosed a massive cyberattack in September.
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U.S. GDP Growth Revised Up to 2.9% Rate in Fourth Quarter
Economic growth was stronger during the final three months of 2017 than earlier estimated, but a key measure of U.S. corporate profits weakened against a backdrop of significant changes to the tax code.
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Battle Lines Are Drawn Over Census Citizenship Question
Pitched legal and political battles have begun over whether the 2020 census should ask respondents if they are U.S. citizens, with Democratic lawmakers and state officials lining up to block the plan and the Trump administration strongly defending it.
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Facebook to Streamline Privacy Settings
The changes, announced as the company faces a firestorm over how it handles personal information, include a new, central hub in the app settings that contains existing tools for users to review and delete traces of their activity.
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Does Verizon Really Pay the Typical Worker 60% More Than AT&T?
A few factors help to explain the stark difference in median pay for rank-and- file workers at the two telecom giants.
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Fraudulent Web Traffic Continues to Plague Advertisers, Other Businesses
In a recent study, Adobe found that about 28% of website traffic showed strong “non-human signals,” leading the company to believe that the traffic came from bots or click farms
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Concho Resources to Buy RSP Permian
Concho has agreed to buy RSP Permian in a deal that both firms say will make Concho the biggest drilling program in the Permian Basin.
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Apple Faces Multiple Lawsuits Over Throttled iPhones
Dozens of iPhone owners are taking Apple to court over the company’s disclosure that it slowed down old phones to preserve battery life, in what could become one of the biggest legal challenges to the smartphone since its 2007 debut.
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Takeda Mulls Bid for Pharma Rival Shire
Japan’s Takeda Pharmaceutical said it is considering making an offer for Shire, a rival drug maker with a market value of around $40 billion.
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Cambridge Analytica CEO Promised More Than He Delivered, Clients Say
Cambridge Analytica CEO Alexander Nix’s sales pitch was powerful: his firm’s personality-profiling ability would let politicians win votes by tapping into people’s deepest fears and desires. Some clients say that didn’t happen.
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Federal Safety Investigators Examine Another Fatal Tesla Crash
The National Transportation Safety Board has dispatched investigators to examine a fatal crash last week in California of a Tesla Inc. electric vehicle and determine whether the vehicle’s semi-automated driving system was engaged.
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Saudis, SoftBank Group Announce World's Largest Solar Power Project
The development would start this year with a $1 billion investment from the joint Saudi-SoftBank Vision Fund. It is expected to grow into a $200 billion behemoth that provides about 200 gigawatts of power by 2030—enough to light up 140 million homes
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Unit of Taiwan's Foxconn to Buy Los Angeles-Based Belkin
FIT Hon Teng agreed to buy the smartphone and electronics accessories maker for $866 million as Foxconn seeks to bolster consumer-branded operations.
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Tuesday, March 27, 2018
Bleacher Report Live to Launch in April
Sports site Bleacher Report is joining the fray of streaming services offering live sports events from Union of European Football Associations soccer matches to National Basketball Association games.
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Honda to Trim Production of Flagship Sedan
Workers assembling Honda Motor Co.’s flagship sedan will take a total of about two weeks off from building the vehicle as the auto maker works to adjust bloated inventories.
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Uber to Let California Self-Driving-Car Permit Lapse
Uber Technologies Inc. doesn’t plan to renew its permit to test autonomous vehicles in California, according to a letter from the state’s motor-vehicle department.
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Facebook's Zuckerberg Expects to Testify at Congressional Hearing
Facebook Chief Executive Mark Zuckerberg expects he will have to testify at U.S. congressional hearings, though he hasn’t formally accepted any of the committee requests for him to appear.
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Casino Managers Enabled Wynn's Alleged Misconduct for Decades, Workers Say
Employees describe a corporate culture where supervisors looked the other way and complaining was futile; “Don’t try to make this into anything.”
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MoviePass's All-You-Can-See Deal: The Pros and Cons
The MoviePass app lets you see a film a day for only $10 a month. So what’s the catch? (And will it ultimately improve the quality of movies?)
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Apple Updates iPad With Stylus Support
Apple said it added support for its Pencil digital stylus to its entry-level iPad as the device maker tries to shore up its dwindling share of the U.S. education market.
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Oracle Wins Court Ruling Against Google in Copyright Case
A federal appeals court revived Oracle’s multibillion-dollar copyright infringement claims against Google, ruling its use of Oracle’s Java programming technology was unfair.
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Waymo Orders Up to 20,000 Jaguar SUVs for Driverless Fleet
As Uber reels from a fatal crash involving one of its autonomous vehicles, rival Waymo is moving ahead, buying as many as 20,000 Jaguar vehicles for its robot fleet.
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Arizonans Rethink the Self-Driving Experiment They Invited
After the fatal crash a week ago in which an Uber test car in autonomous mode struck and killed a pedestrian, community leaders in Arizona are grappling with tough questions about technology that many still see as exciting and promising, but also potentially dangerous.
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In Car Makers' Digital Dash, Little Room for Error
The software that now runs everything from speedometers to climate controls can prove buggy, causing car buyers to rethink just how modern they want their cars to be.
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In U.S. Brawl With Huawei, An Unlikely Loser: Rural Cable Firms
A brawl between the U.S. government and Huawei is putting America’s rural internet providers in a bind. Many of them rely on Chinese telecom equipment, which faces potential new restrictions from the FCC and Congress.
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The Best Windows Laptop $1,000(ish) Can Buy
Looking for the perfect laptop in the Windows pricing sweet spot? Here are David Pierce’s picks from Acer, Dell, HP, Lenovo and Microsoft.
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E-Commerce Lingerie Brand Gets Physical (With Stores), in Challenge to Victoria's Secret
Online lingerie seller Adore Me is planning to open 200 to 300 U.S. stores in the next five years in a move to seize market share from Victoria’s Secret.
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Celebs Will Say Anything if You Blast Them With Hot Sauce
How did the online series ‘Hot Ones’ became a trendy talk show? With absurdly spicy wings that made Kevin Hart and Terry Crews cry.
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U.S. Consumer Confidence Declined in March
A measure of U.S. consumer confidence decreased in March after reaching an 18-year high in February.
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Libor's Rise Accelerates, Squeezing Short-Term Borrowers
Companies are paying the most in nearly a decade for some types of short-term borrowing, the latest threat to a long-running U.S. economic expansion and increasingly volatile markets.
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U.S., China Trade-War Crossfire Threatens Asia
The prospect of a deepening U.S.-China trade conflict has Japan, Australia and other Asia-Pacific nations worried about getting caught in the crossfire—even if some of them have sympathy for President Donald Trump’s criticism of China.
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2020 Census Revives Question About Citizenship
The Trump administration said it would ask 2020 Census respondents whether they are U.S. citizens, the first time in decades such a question will be asked on the decennial questionnaire.
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How a Tiny Latvian Bank Became a Haven for the World's Dirty Money
That U.S. officials went after a bank in a fellow NATO country shows the scale of the threat it perceives from this corner of the European Union. ABLV, which flourished under weak European oversight, allowed entities from Russia, Ukraine and North Korea to funnel illicit funds, U.S. officials say.
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Bostic Says Fiscal Policy Is Creating More Uncertainty for Fed
Atlanta Fed leader Raphael Bostic said he supports plans to gradually raise interest rates, but uncertainty over how the economy would respond to tax cuts and increased government spending could complicate monetary policy.
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Home Prices Continued to Rise in January
Home prices continued to grow at a rapid pace in the first month of 2018, according to the S&P CoreLogic Case-Shiller National Home Price Index, as a new tax law and rising mortgage rates made little dent in demand in the early weeks of the year.
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Sen. Warren Says New York Fed Pick Should Testify Before Senate
Sen. Elizabeth Warren said John Williams, the front-runner to be the next New York Fed leader, should testify before the Senate Banking Committee before being approved.
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Canada's Immigration System Leaves Some Employers Wanting
As U.S. lawmakers seeking to revamp America’s immigration system praise Canada’s merit-based approach, some employers and economists there say it yields few workers to fill blue-collar or lower-skilled vacancies.
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Why a Slice of the U.S. Steel Industry Welcomes Trump's Tariff Exemptions
The Trump administration’s decision to temporarily exempt several countries from new tariffs provides relief to some of the largest customers of imported steel: companies that import semi-finished steel slabs into the U.S.
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GSK to Buy Out Novartis's Stake in Health-Care Venture for $13 Billion
GlaxoSmithKline agreed to pay Novartis $13 billion for its 36.5% stake in their consumer health care joint venture, moving to consolidate the unit just three years after it and Novartis joined forces.
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Didn't Like That New Album? Another One Is Coming Before You Know It
The music business is pumping out more music than ever, giving listeners more choices and artists more ways to distribute their work. But they are also finding it harder to break through the cacophony, while fans are getting overwhelmed.
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Carlyle-Led Consortium to Buy Akzo Nobel's Chemicals Unit for $12.6 Billion
A consortium led by Carlyle Group agreed to buy the specialty chemicals business of Akzo Nobel for $12.6 billion including debt, as the competition for bigger, riskier deals between cash-rich buyout firms heats up.
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Brookfield Strikes Deal to Buy Rest of Mall Owner GGP
Brookfield Property Partners LP and GGP Inc. have reached an agreement for Brookfield to buy the remaining shares of the mall owner it doesn’t already own, a deal that would create one of the world’s largest retail real-estate companies.
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Monday, March 26, 2018
U.S., States Step Up Pressure on Facebook
U.S. government officials ratcheted up pressure on Facebook Inc. on Monday over its handling of user data, with federal regulators saying they are investigating the social-media giant’s privacy practices and 37 state attorneys general demanding explanations of its practices.
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Uber's Latest Retreat Leaves Brazil, India as the Key Battlegrounds
Uber’s departure from Southeast Asia—where it relinquished its business to local rival Grab in exchange for a 27.5% stake—turns the spotlight squarely on its businesses in India and Brazil, the last populous emerging markets.
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Facebook Logs Text, Call Histories for Some Android Users
Facebook said it logs the call and messaging histories of some Android smartphone users who installed its messaging app or a lighter version of its main Facebook app.
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Uber Sells Southeast Asia Business to Rival Grab
Uber Technologies said it would relinquish its battle for Southeast Asia’s riders, selling its local operations in exchange for a minority stake in homegrown champion Grab.
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Cooler-Maker Yeti Kills IPO Plans, Citing Market Conditions
Yeti Holdings, the maker of rambler mugs and pricey coolers, has ended its plans to go public, citing market conditions.
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Defining Moment for Dictionary.com: It's For Sale
Barry Diller’s IAC/InterActiveCorp is putting the online definition resource on the block.
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Stormy Daniels Delivers '60 Minutes' Its Biggest Audience in a Decade
“60 Minutes” drew more than 21 million viewers Sunday to hear the former adult-film star known as Stormy Daniels discuss her alleged sexual encounter with President Donald Trump, marking the CBS program’s biggest audience in 10 years.
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Maker of Sharpies Drew the Line on Store Promotions---and Paid in Lost Sales
A brawl over store-promotion money between Newell Brands Inc., the maker of Sharpie markers, and Office Depot Inc. contributed to a $50 million drop in Newell’s quarterly sales—but the CEO says he has no regrets.
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Trump Administration Seeks Freer Hand for U.S. Companies in China
China’s rules requiring foreign companies to form joint ventures with domestic partners are among the chief targets of the Trump administration’s looming tariffs against Chinese imports.
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Lowe's CEO Robert Niblock to Retire
Lowe’s said Chief Executive Robert Niblock will retire after leading the home-improvement products retailer for more than a decade.
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End of the Nondisclosure Agreement? Not So Fast
Nondisclosure agreements have become ubiquitous in corporate America, but revelations that high-profile individuals have used such agreements to silence their accusers is sparking debate about the merits of confidential settlements.
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New Tax on Overseas Earnings Hits Unintended Targets
A new tax aimed at income earned by U.S. technology and pharmaceutical firms abroad is hitting unexpected places, including Kansas City Southern, a U.S. railroad company.
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SoftBank Probes Who Was Behind 'Sabotage' Campaign
The board of Japanese tech giant SoftBank has begun an investigation into who was behind a shareholder campaign that sought the ouster of two of its executives—and whether that effort had any connections to current company insiders.
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Spotify's Numbers Show Growth, and Maybe a Path to Profits
As it prepares to make its debut on the New York Stock Exchange, the music-streaming service says it is prioritizing growth over profit.
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Why Facebook Isn't So Easily Deleted
Facebook’s huge and highly profitable business makes it difficult to hurt.
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SoftBank May Invest $1 Billion in Chinese Truck-Hailing Firm
SoftBank is looking to invest $1 billion in a Chinese truck-hailing company backed by Tencent and a private-equity firm co-founded by billionaire Jack Ma.
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China to Build Car in Europe for First Time
Volvo Cars confirmed that beginning next year it would produce Lynk & Co’s sport-utility vehicle at its plant in Ghent, Belgium, marking the first production of a Chinese automotive brand in Europe.
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The Chips Are Down for Toshiba, Thanks to China
Toshiba has yet to win approval from Chinese authorities for the $19 billion sale of its chip unit, raising the likelihood it will miss its deadline to close the deal.
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Sunday, March 25, 2018
U.S., South Korea Amend Trade Deal; Seoul Exempt From Steel Tariffs
The U.S. and South Korea agreed to amend their free-trade deal to address American concerns about a growing deficit and resolve friction over tariffs on South Korean steel.
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The Long Shadow of GE Capital Hangs Over GE
After a difficult year marred by a slumping share price and promises to jettison major units, General Electric investors face another uncertainty: risks left over from the industrial giant’s once-massive lending business.
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Most Stressful Job on the Road: Not Driving an Autonomous Car
The fatal crash last week involving an Uber autonomous vehicle is bringing new scrutiny to Uber’s technology—and its backup system of safety drivers.
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Auto Dealers Worry Prices May Be Getting Too High
As the automotive industry braces for changes including electrification and autonomy, dealers across the U.S. are worried about something much simpler: the price of a new car.
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Facebook and Google Face Emboldened Antagonists: Big Advertisers
The latest uproar over voter-profiling data has sparked anxiety among some marketers and advertisers, including over whether their own data on Facebook are safe.
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Glaxo CEO Dispenses Bitter Pill to Fix R&D
Emma Walmsley, the first woman to run a major pharmaceutical company, is making sweeping changes at GlaxoSmithKline, replacing nearly half the company’s top 125 executives and shutting down two dozen clinical trials.
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Gun Maker Remington Seeks Bankruptcy Protection
Remington filed for chapter 11 protection in Wilmington, Del., with plans to hand over control of the company to its creditors in exchange for wiping much of its debt from its balance sheet.
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5G Wireless Will Redraw the Wireless Industry Map: Who Stands to Lose?
Super-fast 5G wireless was supposed to cement the grip of wireless carriers on our wallets and mobile devices, but it could end up threatening powerhouses like AT&T Inc. and Verizon Communications Inc.
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For U.S. Farmers, China Tariffs' Timing Is Brutal
China is a major customer for American agricultural products, and its escalating trade battle with the Trump administration is expected to worsen a slump in the U.S. farm economy.
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U.S., China Quietly Discuss Trade Solutions
China and the U.S. have quietly started negotiating to improve U.S. access to Chinese markets, after a week filled with harsh words from both sides over Washington’s threat to use tariffs to address trade imbalances, people with knowledge of the matter said.
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Global Economy Week Ahead: U.S. Personal Income, Japan Unemployment, China PMI
The week ahead will feature data on China’s factory activity, Japanese unemployment, and U.S. personal income and consumer sentiment, as well as a public comments by the New York Fed chief.
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New York Fed Eyes John Williams as Its Next Leader
The Federal Reserve system is set to elevate San Francisco Fed President John Williams to the presidency of the New York Fed, one of the central bank’s most important positions just as it faces a potential turning point for setting interest-rate policy.
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Taking Aim at a Trade Gap? It's Easy to Miss the Target
You can’t eliminate a national trade deficit by targeting one industry or country. Need proof? Look at what’s happened to the oil industry.
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Donald and Jerome's Excellent Economic Adventure
Rising trade tensions and stimulative fiscal policy are similar to what would be seen in a recession while the Fed continues to tighten policy, creating an unusual situation.
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Foreign Trade Houses Grab Big Share of U.S. Crude Exports
A handful of international trade houses are dominating the buying and selling of U.S. crude exports, two years after Washington lifted its ban on sending oil abroad.
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Saturday, March 24, 2018
San Francisco Fed Leader Is Front Runner to Serve as N.Y. Fed President
San Francisco Fed President John Williams is the leading candidate to become the next president of the Federal Reserve Bank of New York, one of the most influential positions within the U.S. central bank.
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Winning at Tariffs: Be From Exempted Nation, Produce in U.S.
Australian steelmaker BlueScope is boosting U.S. production in a bet that demand would rise from the construction and automobile industries. The wager sets it up to be a big winner from Trump’s tariffs on steel and aluminum imports.
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Waymo Chief Confident Tech Could Avoid Uber-like Incident
John Krafcik, the head of Google-parent Alphabet’s self-driving car unit, said he is confident its technology would be able to spot a pedestrian crossing the street in the wake of a fatal accident involving an Uber Technologies self-driving car.
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How Facebook's Past Data Policies Led to Current Crisis
A video explaining why a key period of time in Facebook’s past, when developers were able to access massive amounts of data, is coming back to haunt the social network.
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Apple's Cook to Trump: Embrace Open Trade
Apple CEO Tim Cook called on President Donald Trump to support free-trade policies as planned tariffs raise tensions between the U.S. and China.
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Airlines Conquer Challenges of Long-Haul Flights. Now Can Passengers?
Now that ultra long-haul flights, like Qantas Airways’ London-to-Perth connection, are possible, airlines and aircraft makers are asking: How can we make them bearable for passengers?
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Friday, March 23, 2018
Retaliation Threats, Intense Lobbying, Alliances: How Tariffs Exemptions Were Won
The countries excluded from the steel and aluminum tariffs all made the case that their metal exports don’t impair U.S. national security, but different nations emphasized different approaches.
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Uber Crash Highlights Growing Safety Concern: Pedestrians
A deadly crash in Arizona involving an autonomous vehicle operated by Uber Technologies Inc. spotlights a pedestrian-safety problem that is getting increasingly worse in an era of constant smartphone use and a surge in impaired driving.
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Facebook Looks to Calm Advertisers After Cambridge Analytica Crisis
Facebook is hustling to reassure advertising partners—and prevent damage to its core business—as a handful of marketers have suspended advertising on the platform in the wake of revelations that an outside company improperly handled user data.
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Qualcomm Directors Draw Protest Vote
Six of Qualcomm’s directors, including Chief Executive Steve Mollenkopf, failed to win support from a majority of the company’s shares Friday.
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Dropbox Shares Jump in Debut
Shares of Dropbox surged in their market debut, a sign of investors’ thirst for a big-name tech initial public offering with solid growth prospects.
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New FCC Rule Would Step Up U.S. Fight Against China's Huawei
The FCC is considering a new rule to further curb the U.S. business of Huawei, making it harder for small and rural carriers to purchase gear from Chinese telecom-equipment makers.
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How Many Calories Are in That Cocktail? Soon You'll Know
Restaurant chains as of May will have to list calorie counts for beer, wine and mixed drinks under new Food and Drug Administration rules, but will patrons drink less?
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Wayne Huizenga, Entrepreneur Behind Blockbuster and AutoNation, Dies at 80
A college dropout, Wayne Huizenga was a restless entrepreneur who built a business empire that included Blockbuster, AutoNation and three professional sports franchises. He died Thursday at the age of 80 after a battle with cancer.
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Nike Rides Out its #MeToo Moment
Nike has bounced back from some sizeable scandals, so it isn’t surprising that the company has gotten ahead of the problem of alleged inappropriate behavior by top executives.
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U.S. Charges Nine Iranians With Cyber Attack Campaign
Federal prosecutors unsealed criminal charges accusing nine Iranians of orchestrating years of cyberattacks on behalf of the Iranian government to steal data from hundreds of universities and businesses in the U.S. and abroad.
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Canada Inflation Rate Accelerated in February to 2.2%
Headline inflation in Canada rose at its fastest pace in more than three years in February, and measures of core inflation strengthened.
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U.S. New Home Sales Fell Slightly in February
U.S. new-home sales dropped slightly in February, continuing a trend of choppy sideways movement for a narrow segment of the housing market.
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Trump Says He Might Veto Spending Bill
Donald Trump says he’s weighing a veto of the omnibus spending bill designed to fund the government past early Saturday. The White House had previously indicated he would sign the bill.
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Google Privacy Case Risks Disrupting a Key Source of Nonprofit Funding
Critics of a longstanding practice that sends leftover money from class-action settlements to parties not affiliated with the litigation, known as cy pres, are trying to blow up a 2015 settlement involving Google.
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Wynn Resorts Enters a New Galaxy
Steve Wynn shed his stake in the casino giant he co-founded. On the same day, Wynn Resorts said it would issue a near-5% stake to rival Galaxy Entertainment. Both moves look sensible.
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Tencent's Two-Day Selloff Wipes Out $52 Billion in Market Value
Tencent Holdings Ltd.’s shares slumped again Friday, taking its fall in the past two days to 9.2%, as investors reassessed the Chinese tech giant with one of its biggest shareholders set to sell almost $10 billion worth of its position.
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Nissan Revs Up Electric-Car Sales Goal
Nissan aims to sharply increase its electric-vehicle sales over the next five years, leaning on the expected explosion of sales of battery-powered vehicles in China.
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U.S. Factory Goods Orders Rose at Best Rate Since June
Demand for long-lasting U.S factory goods rose in February, supported by an uptick in business investment as orders for durable goods increased 3.1% from the prior month to a seasonally adjusted $247.72 billion in February.
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Fed Official Who Bailed Out Big Banks Is Now One of Their Biggest Critics
Neel Kashkari helped bail out big banks during the financial crisis. Now, as a Federal Reserve regional bank president, he is proposing measures that could break them up.
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China Started the Trade War, Not Trump
China started the trade war long before Donald Trump became president, and while his China crackdown is risky, it’s on firmer legal, political and economic ground than many of his other trade complaints, Greg Ip writes.
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Samsung Electronics Moves to Expand and Diversify Board---and Critics Shrug
Samsung Electronics Co. expanded the size of its board of directors and added three new independent members, though the moves to diversify did little to satisfy critics who argue that the world’s largest smartphone maker needs stronger corporate governance.
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Thursday, March 22, 2018
Working Mothers Gain Acceptance, But Perceptions of Sexism Persist, Poll Shows
Working mothers have gained widespread acceptance in the U.S. over the last two decades, but there has been little change in the perception of sexism and gender inequities in the workplace, a new Wall Street Journal/NBC News poll has found.
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Criminal Record and Crash Video Put Focus on Uber Test Operator
Test drivers of autonomous cars are supposed to monitor the road and brake or take the wheel if a car acts erratically, yet video shows the operator in Sunday’s fatality was looking down. The driver also has a criminal record and traffic violations.
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Google to Ask Publishers to Get Users' Data Consent in Europe
Google will ask web publishers to obtain consent on its behalf to gather personal information on European users and target ads at them using Google’s systems.
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Video Shows Las Vegas Gunman Days Before Massacre
Las Vegas gunman Stephen Paddock gambled, and chatted with staff who helped him carry some of the 20-plus pieces of luggage into his room, in the days leading up to the deadliest shooting in modern U.S. history, surveillance footage released Thursday shows.
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Takata Whistleblower Claimants Settle Fight Over Air-Bag Compensation
Three former Takata Corp. employees calling themselves whistleblowers settled a legal battle over $850 million the supplier of exploding air bags owes to car companies shouldering costs for unprecedented safety recalls.
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DOJ and AT&T Clash Over Impact on Consumers of a Time Warner Deal
The Justice Department warned consumers will see price increases of more than $400 million for pay TV if the proposed combination of AT&T Inc. and Time Warner Inc goes ahead; AT&T said that’s preposterous.
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Toys 'R' Us Founder Charles Lazarus Has Died at 94
Charles Lazarus had a simple if powerful idea: build a supermarket for toys. The founder of national toy chain Toys “R” Us died on Thursday in New York at the age of 94.
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U.S. Music Revenue Rose in 2017 Lifted by Spotify, Other Streaming Services
The music industry’s rebound continues as revenue in the U.S. rose significantly for two consecutive years for the first time since its 1999 peak, thanks almost entirely to the rise of streaming services.
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Pershing Square Cashes Out of Nike Stake
William Ackman’s Pershing Square Capital Management cashed out of its brief holding in Nike in recent weeks, for a profit of around $100 million.
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House Passes Mammoth Spending Bill
The House passed a $1.3 trillion spending bill that will fund the government until October, less than 24 hours after the sprawling bill was released.
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How the Uber Robot Car Could Have Missed Seeing the Pedestrian
The Uber Technologies Inc. self-driving car that hit and killed a pedestrian Sunday night didn’t brake or veer first—raising questions about whether the car’s sensors are ready for the complexities of city life.
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Next Worry for Facebook: Disenchanted Users
Facebook’s handling of user data has upset lawmakers and regulators in multiple countries, but the biggest risk to its business could come from angry users.
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Steve Wynn Cashes Out, Sells Roughly Third of His Stake in Company He Co-Founded
Steve Wynn sold just over a third of his shares in Wynn Resorts, making his ex-wife, co-founder Elaine Wynn, the company’s new largest shareholder, securities filings show.
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More Companies Teach Workers What Colleges Don't
Federal policy for decades has pushed more people to go to four-year colleges, but technology is changing faster than colleges can keep up. So companies are increasingly taking matters into their own hands.
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Conagra Sees Higher Profit Despite Rising Costs
Conagra Brands the maker of Hunt’s ketchup and Slim Jim meat snacks, said it expects a higher annual profit this year despite rising costs for ingredients and shipping.
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Best Buy to Stop Selling Huawei Phones
Best Buy plans to stop selling phones in the U.S. made by Huawei Technologies, the latest blow for the Chinese cellular-electronics giant in the U.S.
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Tencent, and the Tech Sector, Get a Shock From South Africa
Naspers is selling down its 33% holding in Tencent, a day after the Chinese tech giant’s disappointing earnings. It’s another blow for a sector suddenly looking shaky.
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Durex-Maker Reckitt Avoids $20 Billion Headache
Turning down Pfizer’s $20 billion consumer-health business shows discipline, but leaves U.K. giant Reckitt Benckiser with plenty of work.
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U.S. to Apply Tariffs on Up to $50 Billion of Chinese Imports
President Donald Trump is expected Thursday to announce new tariffs on Chinese imports. They could be levied on $50 billion worth of imports, said an individual with knowledge of the plans.
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U.S. Farm Sector Looks Warily at China Tariff Threats
Shares in grain trading firms fell amid growing concern the Trump administration’s tougher trade policies will provoke China to punish U.S. farmers.
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Spending Bill Curbs Proposed Restaurant Tip-Sharing Rule
A pending regulation allowing restaurants and other businesses to require workers who receive tips to share them with colleagues is set to be scaled back in a spending bill Congress is expected to vote on this week.
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Eurozone Growth Shows Signs of Easing as Trade Conflict Looms
Business activity in the eurozone slowed for the second straight month in March, a fresh indication that the economy may be losing some of its momentum after a surprisingly strong 2017.
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U.S. Jobless Claims Rise Slightly
The number of American seeking unemployment benefits rose slightly last week, but continued to hover near multidecade lows, suggesting a firm labor market.
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BOE Holds Steady as May Aims for Brexit Transition Deal
The Bank of England signaled that it remains on course to lift interest rates in Britain this year and next, as figures showed a yearlong squeeze on consumers caused by a steep fall in the pound appears to be coming to an end.
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Retirees Reshape Where Americans Live
Almost three-quarters of a million Americans have moved into one of the 442 counties designated as retiree spots, census figures show.
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Fed's Mission Improbable: Lift Unemployment---but Avoid Recession
The Federal Reserve is attempting in the next few years something it has never accomplished before: guide unemployment up without causing a recession. It faces high odds of failure—and little alternative path.
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Missed a Tax Payment? That May No Longer Count Against Your Credit Score
The three big credit-reporting firms are planning to remove tax liens from Americans’ credit reports, a move that will make some risky borrowers appear more creditworthy and increase the chance they will get new loans from banks.
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Trump Policy Change Is a Win for Drugmakers
The Trump administration has issued a policy change that could drive up prices of certain biologic drugs, implementing a new industry-backed measure that overturns existing regulation that promoted lower prices.
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One of the Savviest Tech Investors Is Cashing Out of Tencent---A Little
South African media and internet company Naspers plans to sell about $10 billion worth of shares in Chinese tech giant Tencent, partly cashing out of what has been one of the world’s most lucrative tech bets.
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Omnicom Hosts Its Own Upfront, Turning Table on Media Sellers
Ad giant Omnicom is seeking more tailored pitches from media companies for its clients and hopes to identify potential brand integrations an unique ad formats early on.
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Manufacturers Aim to Blunt Tariff Pain
As manufacturers scramble to prepare for the start of U.S. tariffs on imported steel and aluminum this Friday, one business group is appealing to President Donald Trump with an ad purchase on Fox & Friends and Hannity.
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Whole Foods Is Losing Executives Under New Owner Amazon
More than a dozen executives and senior managers have left Whole Foods in the seven months since its acquisition by Amazon.com—leaving some suppliers and shoppers worried the chain’s retailing mojo won’t endure.
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Forget Millennials, the Internet's Most Wanted Users Are Older---and Poorer
In a hunt for fresh growth, China’s internet companies are looking to lower-income users in lower-tier cities with lower internet service penetration.
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Why the Demand for American Sperm Is Skyrocketing in Brazil
Over the past seven years, human semen imports from the U.S. to Brazil have surged some 3,000%, with most buyers selecting donors whose online profiles suggest they will yield light-complexioned and preferably blue-eyed children.
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Wednesday, March 21, 2018
Video Shows Final Seconds Before Fatal Uber Self-Driving Car Crash
A newly released video of the fatal accident involving a pedestrian and an Uber self-driving car appears to show the vehicle heading straight into a woman walking her bike across the road without slowing down or swerving to avoid her.
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Meredith Plans to Lay Off 1,000 People at Time Inc.
Meredith said it intends to lay off 1,000 staffers at Time Inc. over the next 10 months in addition to 200 positions it cut this week, part of a push to reduce expenses following its acquisition of the storied magazine publisher in January.
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Trump Administration Tells Lawmakers China Trade Actions Are Needed
The Trump administration is looking at tariffs and investment restrictions as a way to pressure China to strengthen protection of American intellectual property, the U.S. trade representative told House lawmakers worried about a brewing trade war.
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After Days of Silence, Zuckerberg Publicly Addresses Facebook Crisis
In an effort to restore confidence in the social-media giant, Mr. Zuckerberg posted a statement about the recent furor over Facebook’s handling of user data.
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Two Ford Executives, Hired From Silicon Valley, to Exit
Ford Motor is losing two executives it recently recruited from Silicon Valley, the latest in a series of prominent executives to leave the car maker since Chief Executive Jim Hackett was hired last year.
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Starbucks Aims for More Mobile Orders
With U.S. sales slowing, Starbucks wants to spread its mobile-ordering app beyond loyal customers.
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MGM CEO Was Fired After Disagreement With Board
The board MGM Holdings abruptly fired Chief Executive Gary Barber amid disagreement over whether the Hollywood studio was well-positioned for growth, according to people close to the company.
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Fed Raises Rates and Signals Faster Path Next Year
The Federal Reserve said it would raise short-term interest rates a quarter-percentage point and signaled it could lift them at a slightly more aggressive pace in coming years to keep the strengthening economy on an even keel.
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Congress Reaches Deal to Fix Tax Overhaul's 'Grain Glitch'
U.S. lawmakers reached a last-minute deal to reverse an error in December’s tax law that was helping farm cooperatives and hurting their corporate competitors.
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U.S. Names Key Partners That May Avoid Metals Tariffs for Now
The U. S. trade representative told lawmakers Wednesday that several key U.S. allies and trading partners won’t face steel and aluminum tariffs until negotiations on possible tariff exemptions wrap up next month.
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Antitrust Case Against Merger of AT&T and Time Warner Feels Stuck in the Past
The Trump Administration’s antitrust case against AT&T’s merger with Time Warner reads like a relic of a bygone era, before the Internet came along and collapsed the barriers to entry in media and entertainment, Greg Ip writes.
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Smartwatch Shows Promise in Detecting Heart Problem
Smartwatches could detect a common heart-rhythm disorder with relatively high accuracy when people were at rest, but less so when participants were physically active, a new study found.
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The Only App You Need for Work-Life Productivity
Notion combines the best of spreadsheets, notes and tasks into the ultimate productivity tool, writes David Pierce.
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How One Investor Made a Fortune Picking Over the Retail Apocalypse
Private-equity firm Sycamore Partners, owner of Anne Klein, Hot Topic and Nine West, has succeeded where many other investors have stumbled. It’s making money in brick-and-mortar retailing.
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General Mills Hit by Higher Food, Shipping Costs
General Mills said higher food and shipping costs hurt profitability in the latest quarter and will weigh on the food maker’s earnings for the year.
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Americans Can Finally Buy Kinder Eggs---Just Not the Ones They Want
Kinder Suprise fans rushed to stores when they learned the treat was finally legal in the U.S.—only to find the new version was made of plastic, not chocolate.
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U.S. Existing Home Sales Rose Robustly in February
Sales of previously owned U.S. homes rose strongly in February, overcoming stiff headwinds from a shortage of inventory and affordability concerns caused by rising mortgage rates and home prices.
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Congressional Leaders Race to Finalize Spending Deal
Congressional leaders were closing in on a deal Wednesday morning over a spending bill that would fund the government until October, wrapping up the final stretch of talks that had delayed a deal for several days.
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Consumer Borrowing Costs Edge Higher as Fed Keeps Raising Rates
More than two years after the Federal Reserve began raising short-term interest rates, consumers are starting to see the effects in their borrowing costs.
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Victims' Lawyer Pushes Back on Fast Sale of Weinstein Co.
An attempt to quickly sell Weinstein Co. assets in bankruptcy is facing pushback over how lawsuits pending against the company will be handled.
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Trump Officials Face Grilling Over Tariffs as China Action Looms
Republican lawmakers worried about a trade war are cautioning President Donald Trump in their strongest terms yet that broad trade barriers risk hurting the economy and that Congress could take steps to rein in his trade authority.
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Fed Set to Raise Rates, Issue New Economic Projections
The Federal Reserve is likely to raise rates after its policy meeting concludes Wednesday, the sixth such move since late 2015, and officials will release new economic projections.
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Congress Inches Closer to Budget Deal, Lawmakers Say
Lawmakers said they were inching closer to a deal to fund the government until October but struggled to wrap up negotiations, leaving them little time to pass the legislation before current funding expires at week’s end.
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G-20 Finance Chiefs Fail to Agree on Trade
Finance ministers and central bankers from the leading economies failed to reach a new agreement on trade, amid a deepening split between the U.S. and other major nations on Washington’s plans to impose tariffs on steel and aluminum.
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Facing U.S. Tariffs, China Plans Countermeasures
Faced with mounting trade offensives from Washington, China is preparing to hit back with tit-for-tat tariffs aimed at President Donald Trump’s support base, including levies targeting U.S. agricultural exports from Farm Belt states.
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Tech Giants Face Hundreds of Millions in New Taxes Under EU Proposals
The European Union unveiled sweeping new legislative proposals to raise taxes on big technology companies, a move that risks angering U.S. officials when trans-Atlantic relations are already strained by an escalating trade spat.
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Jimmy Iovine's Planned Exit From Apple Music Raises Leadership Questions
Apple executive Jimmy Iovine will transition into a consulting role in August and step back from daily involvement with the company’s streaming-music business, according to people familiar with his plans.
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Lawsuit Funding, Long Hidden in the Shadows, Faces Calls for More Sunlight
Investors placing bets on commercial lawsuits have long operated under a veil of secrecy. But as litigation funding in the U.S. has spread to more courthouses and transformed into a billion-dollar business, plaintiffs and their faceless financiers are confronting calls for more transparency.
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The Gun Issue Comes to the Office
Mass shootings are leading many employers to revisit their firearms policies.
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Noble Group's Founder Retires, Leaving Behind a Firm in Turmoil
Noble Group founder Richard Elman has resigned as a nonexecutive director on the embattled commodity supplier’s board, ending a three-decade career. The resignation was effective Tuesday.
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Insurers Race to Develop Coverage for Driverless Cars
As federal investigators begin to examine a pedestrian fatality involving a self-driving Uber Technologies car this week, America’s car insurers are watching closely.
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CEO Pay Hits Record Highs on Stock Market's Surge
The chief executives of America’s biggest companies are on track for another banner year of compensation. Median pay for the chief executives of 133 of the largest U.S. companies reached an all-time high of $11.6 million in 2017.
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Senate to Approve Limiting Immunity for Websites in Sex-Trafficking Cases
The Senate is expected to give final approval today to landmark legislation aimed at curbing online sex trafficking by limiting federal immunity for internet platforms.
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Tuesday, March 20, 2018
Trump to Ramp Up Trade Restraints on China
The White House is preparing to crack down on what it says are improper Chinese trade practices by making it significantly more difficult for Chinese firms to acquire advanced U.S. technology or invest in American companies.
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Ex-Uber CEO Travis Kalanick's Next Act: Real-Estate Development
Ex-Uber CEO Travis Kalanick is investing $150 million into a distressed real-estate outfit and becoming its CEO.
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Facebook's Lax Data Policies Led to Cambridge Analytica Crisis
Facebook’s loose approach to policing how app creators and others deployed its user data persisted for years, including after a 2015 effort by the social network to restrict access, according to court records and people familiar with the social-media giant.
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Scrunchies, Scourge of the 1980s, Are Back
The puffy hair accessory is now making appearances at work, raising questions about its place in the office; Justice Ginsburg’s decision.
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New York Fed Director Helping to Oversee Leadership Search Steps Down
David Cote, one of the people overseeing the search for a new president at the New York Fed, resigned from the bank’s board of directors Saturday, a day after officials said they had narrowed their list of candidates for the bank’s top job.
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Facebook Faces FTC Probe of Data Use by Cambridge Analytica
The Federal Trade Commission is probing Facebook over the use of personal data by an analytics firm tied to President Trump’s campaign.
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Uber's New CEO Confronts His First Crisis With Driverless-Car Death
Dara Khosrowshahi spent much of the first six months as Uber’s chief executive cleaning up scandals he inherited. Just as it appeared Uber was turning a corner, a new crisis has emerged, this time under his watch.
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Google Makes $300 Million Commitment to Supporting News
Google unveiled a three-year, $300 million commitment to help news organizations adapt to the digital age, the search giant’s latest olive branch to a publishing industry.
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Orbitz Discloses Possible Data Breach Affecting 880,000 Payment Cards
Expedia Inc.’s Orbitz subsidiary disclosed Tuesday it has discovered a possible data breach affecting thousands of customers on one of its older sites and an unnamed partner platform.
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General Dynamics Boosts Offer for CSRA
General Dynamics boosted its offer for CSRA in an effort to fend off the unsolicited bid for the federal information technology provider from rival CACI International.
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Security Worries About Huawei Spread Beyond U.S.
National-security concerns surrounding China’s Huawei Technologies—the world’s biggest supplier of wireless equipment and No. 3 vendor of smartphones—are spreading beyond the U.S. to key allies.
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United Suspends Cargo Program for Pets
Under fire for its handling of pets, United Continental Holdings will stop taking reservations for its live-animal shipping program at least until May 1 as it reviews the program.
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Glencore Doubles Down on Coal With $1.7 Billion Australian Investment
Glencore added to its growing portfolio of coal assets with a $1.7 billion investment in a pair of Australian producers—part of a bet by the mining giant that demand for coal in Southeast Asia will remain strong, even as competitors shy away from the stuff.
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Why Crate and Barrel's CEO Isn't Worried About Amazon
Three years ago, Crate and Barrel had little social-media presence and relied primarily on still photography to showcase its furniture. Now the retailer has more than one million Instagram followers and produces more digital content than photographs, publishing YouTube videos weekly.
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Three Former Newell Directors to Drop Their Proxy Fight
Three former Newell Brands directors will part ways with the activist investors they aligned with in a proxy fight, opting out after the company struck a deal with Carl Icahn.
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Will New Tax Incentives for Poor Communities Work? Some Are Skeptical
Governors across the country are racing to make complicated decisions about which struggling areas in their states will qualify for a new federal tax benefit designed to spur investment in low-income communities.
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Policy Feuds Keep Spending Bill in Flux
Lawmakers hustled Monday to resolve policy disputes holding up an agreement on a sweeping spending bill needed to keep the government funded beyond Friday, but negotiations stretched into early Tuesday morning.
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Ship Owners' Quandary: Buy Cleaner Fuel or a Fuel Cleaner?
The owners of 60,000 cargo ships are bracing for tighter emissions rules that are forcing them to make a multibillion-dollar choice: Start buying cleaner-burning fuel or invest in a device that treats the ship’s exhaust before letting it out.
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EU Aims to Persuade Trump the U.S. Already Has a Good Trade Deal
The European Union’s top trade official arrives in Washington on Tuesday with a daunting task: convince the Trump administration that, contrary to White House claims, the bloc’s economic relationship with the U.S. is fair.
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New York State Fund Snubs All-Male Boards
A major state pension fund said it would oppose the re-election of all directors at corporate boards without a single woman, a decision that would apply to hundreds of U.S. companies.
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Monday, March 19, 2018
Facebook Is Pummeled by User-Data Blowback
Facebook confronted an intensifying crisis as political leaders in the U.S. and Europe called for aggressive inquiries into whether the technology giant failed to stop improper access and handling of user data, scrutiny that sent the company’s stock to its biggest decline in four years.
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SandRidge Energy Rejects Bid, Hires Advisers to Review Options
SandRidge Energy Inc. has rejected Midstates Petroleum Co.’s unsolicited stock-for-stock offer, saying the numbers didn’t make a deal feasible, but it has hired advisers and said it is open to other options—that may include Midstates.
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Aramco Scales Back IPO Plan, Eyes Saudi-Only Listing
Saudi Arabia is scaling back its ambitions for a public offering for oil giant Aramco, moving ahead with a listing next year solely on the Saudi stock exchange while taking more time to decide if an international venue is worth it, government officials and others close to the process say.
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Boeing Ends Objection to United Technologies-Rockwell Merger
Boeing dropped its opposition to plans for its largest suppliers to merge, reflecting pressure on the aerospace industry to deliver its record backlog of jetliners.
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Facebook, Other Tech Firms Scrutinized Over User Data
U.S. lawmakers are pushing for an aggressive inquiry into allegations that a firm tied to President Trump’s presidential campaign gathered data from millions of Facebook profiles without authorization.
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Ford Leads $65 Million Investment in Desktop Metal
The startup makes 3-D printers that use metal. Ford joins numerous other strategic investors behind the company. Desktop Metal started shipping its first product in December, later than it originally anticipated.
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Uber Suspends Driverless-Car Program After Pedestrian Is Killed
A self-driving car from Uber Technologies struck a woman who died in Tempe, Ariz., in what is believed to be the first known fatality of a pedestrian from a driverless vehicle.
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Chinese Shipyards See Surge in Orders, Margins Remain Thin
Growing demand across bulk, energy and container shipping sectors has carriers expanding, upgrading cargo fleets.
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U.S. Investigates Failing Air Bags in Hyundai, Kia Cars
U.S. safety regulators are investigating Hyundai Motor and Kia Motors cars with air bags that failed to deploy, a problem linked to four deaths and six injuries.
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Hewlett-Packard Spinoff Falters, as Shares Drop 55% in London
Micro Focus’s $8.8 billion merger with Hewlett Packard’s software business represented a rarity 18 months ago: a British tech company taking over a foreign one, rather than the other way around. It hasn’t worked out as planned.
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VW Plans $340 Million Expansion at Tennessee Plant
Volkswagen will spend $340 million to manufacture a new sport-utility vehicle at a Tennessee assembly plant, according to a person familiar with the plan.
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Tronc's Michael Ferro Retires After Los Angeles Times Sale
Chicago entrepreneur Michael Ferro is retiring as Tronc’s chairman after orchestrating the sale of one of its flagship papers last month.
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U.S. Tariffs to Be in Spotlight at G-20 Summit
Global finance ministers meeting this week in Buenos Aires were planning to focus on topics like the workforce in an age of automation and how to boost infrastructure investment. Instead, their attention has turned to U.S. tariffs on steel and aluminum.
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European Officials Pledge to Probe Facebook's Handling of User Data
EU officials will probe Facebook’s handling of user data, after the company said it is investigating whether a firm linked to the Trump campaign improperly kept personal data for years.
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Newell Strikes Deal With Icahn to Fend Off Other Activists
Newell Brands agreed to nominate four independent board directors chosen by Carl Icahn and consider selling more of its businesses as part of a truce with the activist investor, the consumer-goods company said.
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Women Strive to Narrow a Confidence Gap
Career experts and researchers focus on new strategies for women to shore up belief in themselves with confidence logs, brag books
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Rivals Chip Away at Google's and Facebook's Digital Ad Dominance
Google and Facebook have dominated the U.S. digital advertising market for years, but new data show signs that platforms like Amazon and Snapchat are chipping away at the digital duopoly’s market share.
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Qualcomm Evaded Broadcom's Bid; Now, CEO Has a Lot to Prove
For Qualcomm CEO Steve Mollenkopf, having fended off an unwanted takeover from Broadcom just leaves more headaches, from customer disputes to unhappy shareholders to a long-shot takeover bid from his former boss.
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U.K. Mall Operator Rejects $6.8 Billion Bid From French Rival
France’s Klépierre, a holding of U.S. mall king David Simon, has made an unsolicited $6.8 billion bid for U.K. property firm Hammerson, the latest sign of consolidation in a sector under threat from Amazon.com.
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Claire's Files for Chapter 11 Bankruptcy
Claire’s Stores has filed for chapter 11 bankruptcy and said it plans to reduce its debt by about $1.9 billion.
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China's New PBOC Chief Promises Quick Change
China’s new central-bank chief, Yi Gang, promised to implement changes quickly, saying “there will be a series of reform and opening-up measures” during the next three weeks.
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Steve Wynn Attorney Says He Went to FBI When Woman With Settlement Threatened to Go Public: Records
A lawyer for Steve Wynn said he recently reported a woman to the FBI after she threatened to go public about the casino mogul’s alleged sexual misconduct against her, which had prompted a 2006 settlement, court records indicate.
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Inside Nike, Women Staffers Circulated Survey About Workplace Behavior
The women were concerned about allegations circulating internally of inappropriate workplace behavior by some men and drew up the survey to gather information about these issues, people familiar with the matter said.
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Grubhub Expands Pact With Yelp, Aiming for Cheaper Deliveries
Grubhub and its rivals say they need to get bigger to cut delivery fees that are sometimes higher than the price of a burger and fries.
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Alibaba Bets Another $2 Billion on Southeast Asia
Alibaba Executive Chairman Jack Ma is doubling down on Southeast Asia, investing another $2 billion in e-commerce subsidiary Lazada Group and naming trusted confidante Lucy Peng as its chief executive.
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Harvard's Nutty Idea: Cracking Into the Almond Market
Almonds are shaping up to be a more lucrative endeavor for pension funds, endowments and other institutions with very long-term investment horizons.
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Sunday, March 18, 2018
Trade Associations to Petition Trump Administration to Halt China-Tariff Plans
Forty-five groups representing a wide swath of the U.S. economy are asking the president to work with other nations to press Beijing to end restrictions on foreign firms instead of imposing tariffs on China.
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Snap Contends With User Outcry: New Isn't Necessarily Better
Snap’s battle with a vocal user backlash over a new version of its app is teaching the company that the social-media tradition of getting people to spout off publicly as much as possible can have a downside.
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Burner Phones, Bug Sweeps: How Companies Cope with IP Theft in China
The Trump administration’s move to impose at least $30 billion in new trade tariffs on China comes amid continuing complaints by U.S. businesses that their trade secrets aren’t safe in China.
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The Next Housing Crisis: A Historic Shortage of New Homes
A decade after the construction boom, fewer new houses are being built in America than at almost any time before. “It’s a good time to be here in Grand Rapids, if you can get a house.”
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Facebook Ignites Debate Over Third-Party Access to User Data
Facebook ignited a firestorm over how it manages third-party access to its users’ information, after it said a firm with ties to the 2016 Trump campaign improperly kept data for years despite saying it had destroyed those records.
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CACI Makes Bid for CSRA, Seeking to Break Up General Dynamics Deal
CACI International Inc. has made a roughly $7.2 billion bid to buy CSRA Inc. in an attempt to break up the information-technology provider’s sale to General Dynamics Corp.
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Meredith to Cut Up to 300 Jobs
Meredith Corp., the country’s largest magazine publisher, is expected to lay off 200 to 300 staffers as soon as this week after recently completing the acquisition of Time Inc.
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Fed's Thinking on Rate Increases May Come Into Focus
The Federal Reserve in December expected a gradual path of rate rises would allow the economy to keep expanding without overheating; since then, the burst of fiscal stimulus, together with steady growth and very low unemployment could lead the central bank to be more aggressive.
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Yi Gang Picked to Take Helm of People's Bank of China
Chinese President Xi Jinping has picked an American-trained economist who has long pushed for pro-market overhauls to take the helm of the central bank.
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Global Economy Week Ahead: Fed, BOE and Brazil Central Bank Meetings
The week ahead features policy decisions from the Federal Reserve, Bank of England and Brazil’s central bank, while an early reading on March private-sector output in the eurozone is due.
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Natural Gas Under Assault Again After Brief Reign at the Top
State mandates and renewable advocates argue new gas plants aren’t needed or should be replaced by renewable-energy plants.
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Now China's Internet Giants Are Shaking Up the Car Industry
Tech firms Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd.—aka the BATs—have conquered e-commerce and mobile payments on smartphones and now are moving onto their next platform, cars.
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The Battery Boost We've Been Waiting for Is Getting Close
Lithium-ion batteries get a little bit better every year, but capacity is about to get a much-needed major lift, thanks to nanotechnology and a shift in materials.
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Saturday, March 17, 2018
Qualcomm: In the Market for Fresh Perspective
Can Qualcomm break from its past without endangering its future? That should be the key question on the minds of the chipmaker’s board of directors in the wake of its close call with Broadcom.
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Freed Saudi Media Mogul Touts New Business Ties With Government
The founder of the Arab world’s largest media company who was rounded up the Saudi corruption crackdown has emerged to tout a potential joint venture with the government.
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What's That Thing You're Sending an Email With? Um, It's a BlackBerry
The once-popular device, long since upstaged by touch-screen rivals, still has its devoted fans; ‘built like a tank.’
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Senate Likely to Pass Bill Limiting Websites' Immunity in Sex-Trafficking Cases
U.S. lawmakers are pushing ahead with changes to the internet immunity law, despite efforts by some tech companies and their allies to soften or slow down the effort.
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Can Retailers Keep Pace With Shoppers?
After strong holiday season, retail executives gather at the Shoptalk conference in search of new strategies.
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California's Salmon Industry Set to Take Another Hit
Fisheries managers will impose the toughest restrictions on California’s salmon harvest in nearly a decade, hobbling the billion-dollar industry that depends on it.
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Why 'Fortnite' Gamers on Xbox Can't Join 'Fortnite' Gamers on PlayStation
Why do major videogame console makers like Micosoft Corp. and Sony Corp. support ‘cross-play’ with PCs and smartphones—but not with each other?
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Facebook Suspends Cambridge Analytica for Failing to Delete User Data
The social-media giant said it been given information that Cambridge Analytica, along with two individuals who don’t work there, improperly kept Facebook user data for years despite telling the company that it had destroyed those records.
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EA Drops Plan to Sell 'Loot Boxes' in 'Star Wars Battlefront II'
Videogame-maker Electronic Arts Inc. nixed its plan to sell randomized packs of virtual goods—known as “crates” or “loot boxes”—in the latest edition of its “Star Wars Battlefront” series.
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Drinkers Go Crazy for Gin, Investors for Tonic
It’s party time in the gin industry—but buying a gin producer may not be the best way for investors to join the fun.
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Friday, March 16, 2018
Fusion Media Group Faces Potentially Steep Cost Cuts in Univision Review
Parent company Univision has hired a consulting firm to review the entire business and recommend budget reductions, which may include significant cuts to Fusion Media Group.
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Saudi Sovereign-Wealth Fund Moves to Buy Stake in Talent Agency
Saudi Arabia’s sovereign-wealth fund is moving to buy a stake in Endeavor, the world’s largest talent agency, Saudi officials said, as the kingdom builds an entertainment industry with a once-unthinkable partner: Hollywood.
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United Technologies' Planned Breakup: An Idea of What It'll Cost
United Technologies CEO Greg Hayes gave analysts on Friday details about the cost of splitting the company ahead of a planned review on the idea.
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Second Nike Exec Leaves in Wake of Workplace Complaints
A second veteran executive is leaving Nike Inc. in the wake of internal complaints about inappropriate workplace behavior at the sneaker and sportswear giant, according to people familiar with the matter.
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Caterpillar to Close Texas Plant, Review Illinois Factory
Caterpillar will close a parts factory in Texas and may close an engine plant near Chicago as it continues to pare back its manufacturing footprint.
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Qualcomm Scion May Exit Board, Chasing Long-Shot Bid for Chip Giant
Qualcomm director Paul Jacobs may step down after he was stripped of the title of executive chairman last week and embarked on a long-shot bid for the company, according to people familiar with the matter—the latest plot twist to roil the chip-making giant.
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Fiat Chrysler's Attempt to Dismiss Emissions-Cheating Case Fails
Fiat Chrysler lost a bid to dismiss a lawsuit accusing it of rigging diesel-powered vehicles to dupe emissions tests, keeping the Italian-U.S. auto maker in the legal crosshairs over alleged environmental violations that have drawn comparisons to longstanding fraud at Volkswagen AG.
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Tiffany Is on the Right Track
Investors are overreacting to a January slowdown despite Tiffany’s success with new products.
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U.S. Consumer Confidence Hits Fresh 14-Year High
U.S. consumers’ confidence hit a fresh 14-year high this month, with the gain attributable to lower earning households feeling more optimistic about the economy.
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U.S. Industrial Production Rose 1.1% in February
Industrial output jumped in February as American factories ramped up production, signaling healthy momentum in a key sector of the U.S. economy.
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OECD Highlights Global Divides on How to Tax Digital Companies
The U.S., Europe and other countries are split on how to tax digital businesses, threatening a rush to impose unilateral charges at a time of rising tensions between the major economies.
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Eni Lifts Dividend After Years of Cuts
Italy’s state-back oil giant Eni is raising its dividend, in a fresh sign that the international energy industry is bouncing back from a three-year downturn.
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U.S. Housing Starts Fell in February
U.S. housing starts decreased last month, dragged down by weakness in multifamily construction.
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Surplus or Deficit? Trump Quarrels With Canada Over Trade Numbers
The Trump administration is fighting a war of numbers with Canada, further escalating economic tensions with one of the biggest U.S. trading partners.
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Foreign-Student Enrollments at Risk as Trump Targets China
The U.S. runs a global trade surplus in the education sector, in no small part due to China. But the White House is considering limiting visas to Chinese students as part of a package of measures to punish Beijing’s trade practices.
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Navarro's Nucor Ties Highlight Trump Advisers' Steel Industry Connections
The White House economic adviser’s connection to the company highlights the Trump administration’s close ties to the steel industry that tariffs now stand to benefit.
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The Court Case Making Gun Makers Anxious
A lawsuit in Connecticut against a leading maker of AR-15 rifles is awaiting a pivotal court ruling over whether the gun industry can be held legally responsible for mass shootings.
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Inside Telemundo's Battle with Univision for American Hispanics
Five years ago, Telemundo had less than half the audience of rival Univision.
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Hong Kong Billionaire Li Ka-shing to Retire as Chairman of His Empire in May
Li Ka-shing, who turns 90 in July, said his elder son and deputy chairman, Victor Li, would be his successor at his flagship conglomerate CK Hutchison Holdings.
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In China, a New Breed of Pet Owner Widens Market for Choice Chow
U.S. private-equity giant Kohlberg Kravis Roberts & Co. is among the investors betting on packaged pet food and treats in China, where consumers with rising spending power are spoiling their dogs and cats.
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Watt's That? Siemens Pins Hopes on Small Gas Turbines
Depressed demand for large gas turbines has hurt revenue at Siemens, but the German engineering conglomerate hopes to offset part of the industry slump by building smaller power plants.
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