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The latest business news delivered in a convenient, AD-FREE, easy-to-read stream. Brought to you by News Plexus, a pioneer in sustainable news publishing.

The latest business news delivered in a convenient, AD-FREE, easy-to-read stream. Brought to you by News Plexus, a pioneer in sustainable news publishing.
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NewsPlexus Media October 18, 2019

Netflix heads into showdown with slowing subscriber growth
Netflix's subscriber growth is bogging down even before the leading video streaming service confronts high-powered threats from Apple and Walt Disney Co. The latest sign of the challenges the company is facing emerged Wednesday with the release of its third-quarter results. The numbers provided further evidence that Netflix's salad days may be over, particularly in the U.S., where most households that want its 12-year-old streaming service already have it.
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NewsPlexus Media October 18, 2019

J&J agrees to $117M settlement over pelvic mesh devices
Johnson & Johnson has agreed to a $117 million multistate settlement over allegations it deceptively marketed its pelvic mesh products, which support women's sagging pelvic organs. Ohio's attorney general said Thursday an investigation found that J&J, the world's biggest health products maker, violated state consumer protection laws by not fully disclosing the devices' risks.
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NewsPlexus Media October 18, 2019

Juul halts sales of fruit, dessert flavors for e-cigarettes
Juul Labs stopped selling fruit and dessert flavors Thursday, acknowledging the public's "lack of trust" in the vaping industry. The voluntary step is the company's latest attempt to weather a growing political backlash that blames its flavored-nicotine products for hooking a generation of teenagers on electronic cigarettes.
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NewsPlexus Media October 18, 2019

'Totally avoidable': 3 firms fined in Seattle crane collapse
Washington state on Thursday fined three companies for their roles in a crane collapse that killed four people in Seattle last April, with officials calling it "totally avoidable," and Seattle Police confirmed that they have opened a criminal investigation. The Department of Labor and Industries released the results of its investigation Thursday. It found, as experts suspected, that the crane toppled in a wind gust because the workers who were disassembling it prematurely removed pins securing sections of the crane's mast, contrary to the manufacturer's instructions.
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NewsPlexus Media October 16, 2019

Despite defections, Facebook officially launches Libra
Facebook officially moved forward with its plans Monday to create a new digital currency called Libra, despite several high-profile defections from the project and intense criticism from U.S. regulators and politicians. The Libra Association, the nonprofit that will govern the currency, officially signed on 21 charter members on Monday at the organization's inaugural meeting in Geneva.
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NewsPlexus Media October 16, 2019

End in sight? GM CEO Barra joins talks with striking union
General Motors CEO Mary Barra joined negotiators at the bargaining table, an indication that a deal may be near to end a monthlong strike by the United Auto Workers union that has paralyzed the company's factories. Barra and GM President Mark Reuss were in the bargaining room early Tuesday, a person briefed on the talks said, but they left later in the morning as committees began work on specific contract language. The person didn't want to be identified because the talks are confidential.
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NewsPlexus Media October 16, 2019

Google touts privacy options, but still depends on your data
Google's latest phone and smart-home devices came packaged with a not-so-subtle message: Google cares about your privacy. Does it? The tech company has had a complicated relationship with user information in the past. Google's latest steps offer consumers some additional protections, although it's unclear how much more secure users will feel.
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NewsPlexus Media October 16, 2019

US consumers snap up Italian Parmesan before tariffs hit
U.S. consumers who appreciate the tang of aged Italian Parmesan cheese as an aperitif or atop their favorite pasta dish are stocking up ahead of next week's tariff hike and as dairy producers in the two countries square off. The Italian agricultural lobby Coldiretti said Friday that sales of both Parmigiano Reggiano and Grana Padano, aged cheeses with a distinctive granular quality that are defined by their territory of origin, have skyrocketed in the United States by 220% since the higher tariffs were announed.
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NewsPlexus Media October 14, 2019

Visa, Mastercard shun Facebook's Libra digital currency plan
Visa and Mastercard on Friday announced their departure from Facebook's Libra project, a major setback to the social network's plan for a worldwide digital currency. Along with the two payment giants, several other large companies have said they're exiting Libra. Payment processing company Stripe is stepping back, as well as e-commerce company eBay.
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NewsPlexus Media October 14, 2019

Boeing, FAA both faulted in certification of the 737 Max
A panel of international aviation regulators found that Boeing withheld key information about the 737 Max from pilots and regulators, and the Federal Aviation Administration lacked the expertise to understand an automated flight system implicated in two deadly crashes of Max jets. In its report issued Friday, the panel made 12 recommendations for improving the FAA's certification of new aircraft, including more emphasis on understanding how pilots will handle the increasing amount of automation driving modern planes.
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NewsPlexus Media October 12, 2019

Legos lying around? Toy maker tests way to recycle bricks
Lego is looking to keep its plastic bricks out of the trash. The Danish toymaker is testing a way for customers to ship their unwanted bricks back and get them into the hands of other kids.
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NewsPlexus Media October 12, 2019

Parent of Toys R Us teams up with Target to power online biz
The parent company of Toys R Us is turning to a key rival to restart its e-commerce business ahead of the holiday shopping season. Tru Kids Brands is teaming up with discounter Target Corp. to relaunch Toysrus.com, according to a joint release. The site, which launched Tuesday, features product reviews and videos and directs browsers to a buy button at Target.com to complete the purchase.
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NewsPlexus Media October 12, 2019

Boeing to invest $20 million in Virgin Galactic
Boeing plans to invest $20 million in Virgin Galactic, looking at possibilities beyond the space tourism company's immediate goal of launching passengers on suborbital flights as early as next year. The companies announced the investment Tuesday, saying they will work together on broadening commercial access to space and transforming global travel technologies.
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NewsPlexus Media October 12, 2019

MedMen's ends blockbuster deal adding to cannabis stock woes
Marijuana stocks have come down hard from their highs a year ago, and the skid isn't just spooking investors. On Tuesday, MedMen Enterprises Inc., which sells legal cannabis in California and 11 other states, backed out of a blockbuster deal to buy PharmaCann, a Chicago-based marijuana company with operations in eight states.
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NewsPlexus Media October 12, 2019

Court hears case on paternity leave at Japanese brokerage
A Tokyo court held a hearing Wednesday into the case of a former brokerage manager who says he was forced from his job for taking paternity leave. Canadian Glen Wood wants to get back his former position of equity sales manager at brokerage giant Mitsubishi UFJ Morgan Stanley. He sued the company last year, alleging he was harassed and forced from his job after taking a legally allowed paternity leave when his son was born in 2015.
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NewsPlexus Media October 10, 2019

US job openings slip 1.7% in August as labor market slows
U.S. job openings fell 1.7% in August and hires edged down, bolstering views that the labor market may lose momentum as economic uncertainty and a manufacturing recession squeeze employers. The Labor Department says employers advertised 7.1 million available jobs in August, down from 7.2 million available jobs in July.
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NewsPlexus Media October 10, 2019

US nuclear, uranium mining industries hope for Trump bailout
A plea from uranium mining companies and nuclear power plant operators for tax breaks and other federal financial boosts is going before President Donald Trump, as his administration studies reviving the U.S. uranium industry in the name of national security. Trump is scheduled to receive recommendations Thursday from a task force of national security, military and other federal officials about ways to revive U.S. uranium mining, which has lagged against global competition amid low uranium ore prices.
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NewsPlexus Media October 10, 2019

Bed Bath & Beyond taps former Target exec to be new CEO
Struggling home goods chain Bed Bath & Beyond has named Target's former chief merchandising officer to be its new CEO and president.
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NewsPlexus Media October 8, 2019

Facebook to settle advertiser lawsuit for $40 million
Facebook has agreed to pay $40 million to advertisers who said it inflated the amount of time its users watched videos.
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NewsPlexus Media October 8, 2019

Samsung predicts profit decline as chip market swoons
Samsung Electronics on Tuesday predicted its operating profit for the last quarter will fall by more than half from a year earlier amid sluggish global demand for computer chips.
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NewsPlexus Media October 8, 2019

Company making Costco pajamas flagged for forced labor
The Trump Administration is blocking shipments from a Chinese company making baby pajamas sold at Costco warehouses, after the foreign manufacturer was accused of forcing ethnic minorities locked in an internment camp to sew clothes against their will. The government is also blocking rubber gloves sold by industry leader Ansell whose customers include surgeons, mechanics and scientists around the U.S., accusing a Malaysian manufacturer of staffing its factories with migrants from Bangladesh, Nepal and other countries who went into crushing debt from paying exorbitant recruitment fees.
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NewsPlexus Media October 8, 2019

Southwest pilots' union sues Boeing over grounding of plane
The union representing Southwest Airlines pilots is suing Boeing, saying its pilots are losing money because the company rushed an unsafe plane into service only to have the 737 Max grounded after two deadly crashes. The Southwest Airlines Pilots Association said in the lawsuit filed Monday that Boeing misled pilots and airlines by not telling them about a new flight-control system called MCAS that is now at the center of investigations into the accidents.
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NewsPlexus Media October 8, 2019

Small businesses increasingly a target for cybercriminals
While small and mid-sized businesses are increasingly targets for cybercriminals, companies are struggling to devote enough resources to protect their technology from attack.
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NewsPlexus Media October 8, 2019

US consumer borrowing up $17.9 billion in August
Consumer borrowing increased at a solid pace in August, helped by the biggest jump in auto and student loans in three years. Total credit rose $17.9 billion after a $23 billion increase in July, the Federal Reserve reported Monday.
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NewsPlexus Media October 8, 2019

GE freezes pensions for 20K workers in bid to trim debt pile
General Electric is freezing the pension plans of about 20,000 of its workers and offering pension buyouts to 100,000 former employees as it attempts to reduce its mountain of debt. The industrial conglomerate has been selling off assets and streamlining its operations amid sagging profits and other setbacks in recent years. It has about $105.8 billion in overall debt, and whittling that down has become a priority for CEO Larry Culp.
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NewsPlexus Media October 8, 2019

National Retail Federation forecasts solid holiday growth
The National Retail Federation, the nation’s largest retail trade group, forecasts that holiday sales will rise between 3.8% and 4.2% even as uncertainty looms over an escalating trade war with China. The holiday sales forecast, announced Thursday, marks an increase from the disappointing 2.1% growth seen in the November and December 2018 period that came well short of the group’s prediction.
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NewsPlexus Media October 7, 2019

Sports Illustrated, under new management, cuts staff jobs
Sports Illustrated’s new manager said Thursday that the 65-year-old sports magazine is cutting more than 40 jobs out of a staff of 150. Maven, the company now managing the magazine, will add 200 contractors to cover college and professional sports teams, said Maven spokesman Greg Witter.
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NewsPlexus Media October 7, 2019

Samsung ends smartphone production in China
Samsung Electronics said Friday it has ended the production of smartphones in its last factory in China. Production at the factory in southern China’s Huizhou ended last month, the company said in an email Friday.
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NewsPlexus Media October 7, 2019

US unemployment rate hits a 50-year low even as hiring slows
The U.S. unemployment rate fell to 3.5% in September, the lowest level in nearly five decades, even though employers appeared to turn more cautious and slowed their hiring. The economy added a modest 136,000 jobs, enough to likely ease worries that an economy weakened by the U.S.-China trade war and tepid global growth might be edging toward a potential recession. The government on Friday also revised up its estimate of job growth in July and August by a combined 45,000.
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NewsPlexus Media October 6, 2019

Microsoft returns with smartphone after high-profile flops
After high-profile flops, Microsoft is getting back into smartphones with a dual-screen Android device that won’t be out for another year. Microsoft unveiled the Surface Duo as part of a new lineup of Surface computers. It marks a reversal for a company that abandoned smartphones following lackluster demand for its own operating system and an ill-fated purchase of smartphone maker Nokia.
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NewsPlexus Media October 3, 2019

UPS gets government approval to become a drone airline
UPS has won government approval to operate a nationwide fleet of drones, which will let the company expand deliveries on hospital campuses and move it one step closer to making deliveries to consumers. Many regulatory obstacles remain, however, before UPS — or other operators who are testing drones — can fill the sky over cities and suburbs with drones carrying goods to people's doorsteps.
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NewsPlexus Media October 2, 2019

President's windmill hatred is a worry for booming industry
The winds are blowing fair for America's wind power industry, making it one of the fastest-growing U.S. energy sources. Land-based turbines are rising by the thousands across America, from the remote Texas plains to farm towns of Iowa. And the U.S. wind boom now is expanding offshore, with big corporations planning $70 billion in investment for the country's first utility-scale offshore wind farms. But there's an issue. And it's a big one. President Donald Trump hates wind turbines.
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NewsPlexus Media October 2, 2019

CVS stops sale of heartburn drugs with suspect contaminant
CVS has halted sales of popular heartburn treatment Zantac and its generic store brand after warnings by U.S. health regulators. It's the latest precautionary move by retailers and manufacturers after the U.S. Food and Drug Administration recently warned consumers about a potentially dangerous contaminant in prescription and over-the-counter versions of Zantac.
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NewsPlexus Media October 2, 2019

Forever 21 bankruptcy reflects teens' new shopping behavior
For years, teens flocked to Forever 21's massive stores at the nation's malls for its speedy take on fashion, like its $5 shimmery halter tops and $25 dresses. But the chain that helped popularize so-called fast fashion has moved too slow for a new generation of young customers. The Los Angeles-based privately held chain filed for Chapter 11 bankruptcy Sunday, a victim of rapidly changing shopping tastes among teens who are increasingly turning away from malls and heading to trendy online sites.
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NewsPlexus Media October 2, 2019

US manufacturing sinks to decade-low, stoking economic fear
U.S. factory activity hit a decade low last month in the face of President Donald Trump's trade conflicts, adding to a weakening picture of the global economy. The Institute for Supply Management, an association of purchasing managers, said Tuesday that its manufacturing index shrank for a second straight month to 47.8% in September, down from 49.1% in August. Any reading below 50 signals that the sector is contracting.
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NewsPlexus Media September 30, 2019

Forever 21 fashion chain files for Chapter 11 bankruptcy
Low-price fashion chain Forever 21, a one-time hot destination for teen shoppers that fell victim to its own rapid expansion and changing consumer tastes, has filed for Chapter 11 bankruptcy protection. The privately held company based in Los Angeles said Sunday it will close up to 178 stores in the U.S. As of the bankruptcy filing, the company operated about 800 stores globally, including more than 500 stores in the U.S.
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NewsPlexus Media September 30, 2019

South Sudan launches mobile money to boost recovery from war
Angelo Adud needed some persuading to leave his job as a shopkeeper and become a mobile money agent in South Sudan. Yet one week into his new role, the 29-year-old already saw a return on his investment. "This is a new country and digital things are hard to understand. I was worried, what if no one comes?" he said while helping a customer withdraw money in his newly rented space in the back of a parking lot in the capital, Juba. Adud said he earned more in commissions in one week than he would make in a month in his shop.
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NewsPlexus Media September 30, 2019

McDonald's takes a nibble of the plant-based burger
McDonald's is finally taking a nibble of the plant-based burger. McDonald's said Thursday that will sell the PLT, or the plant, lettuce and tomato burger for 12 weeks in 28 restaurants in Southwestern Ontario by the end of the month. McDonald's says it developed a special recipe using burgers from Beyond Meat, a California-based startup that makes "meat" from pea protein, canola oil, beet juice and other ingredients.
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NewsPlexus Media September 30, 2019

Walmart's Sam's Club launches health care pilot to members
Walmart's Sam's Club is teaming up with several health care companies to offer discounts on routine care that customers might delay or skip because of the cost. Starting next month, Sam's Club members in Michigan, Pennsylvania and North Carolina will be able to buy bundles of health care services that include discounted dental care, free prescriptions for certain generic medications, and telehealth consultations.
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NewsPlexus Media September 27, 2019

Marijuana vape sales lag as lung illnesses rise in US
Vaping products, one of the fastest-growing segments of the legal marijuana industry, have taken a hit from consumers as public health experts scramble to determine what's causing a mysterious and sometimes fatal lung disease among people who use e-cigarettes. The ailment has sickened at least 805 people and killed 13. Some vaped nicotine, but many reported using oil containing THC, marijuana's high-inducing ingredient, and said they bought products from pop-up shops and other illegal sellers.
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NewsPlexus Media September 27, 2019

Want a job at McDonald's? Just ask your smartphone. Starting Wednesday, McDonald's Corp. will let job seekers start an application by using voice commands with Amazon's Alexa or Google's Assistant.
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NewsPlexus Media September 27, 2019

EBay CEO clashes with board, steps down
Devin Wenig, the CEO of eBay, stepped down over differences with the company's board of directors. "In the past few weeks it became clear that I was not on the same page as my new Board," Wenig tweeted Wednesday, without elaborating on the disagreements. "Whenever that happens, its best for everyone to turn that page over."
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NewsPlexus Media September 27, 2019

Juul stops advertising e-cigarettes, replaces CEO
Juul Labs is halting all U.S. advertising of its e-cigarettes and replacing its CEO amid a nationwide backlash against vaping. The largest e-cigarette maker also said Wednesday it won't fight a sweeping ban on flavors proposed by the Trump administration to reverse a surge in underage vaping. Juul's CEO will be replaced by a senior executive from Altria, the maker of Marlboro cigarettes. Altria took a 35% stake in Juul in December at a cost of $13 billion.
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NewsPlexus Media September 25, 2019

Apple keeps Mac Pro assembly in Texas after tariff relief
Apple will continue manufacturing its Mac Pro computers in Texas after the Trump administration approved its request to waive tariffs on certain parts imported from China. The commitment announced Monday clears up several months of uncertainty while Apple mulled shifting production of the Mac Pro from an Austin, Texas, plant where it has been assembling the high-end computer since 2013. In late June, The Wall Street Journal reported Apple was on the verge of shifting the Mac Pro's assembly line to a factory near Shanghai.
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NewsPlexus Media September 25, 2019

Samsung's folding phone hits the US
Samsung will start selling the Galaxy Fold, a phone with a screen that folds together like a book, on Friday. There will be an AT&T version as well as an unlocked version sold at Best Buy and Samsung stores.
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NewsPlexus Media September 25, 2019

Airbnb to train volunteers for science research sabbatical
Airbnb is offering a handful of people concerned about the environment a chance to participate in scientific research on how to help preserve it during an all-expense paid trip to Antarctica. The Antarctic Sabbatical, as the travel company is dubbing it, will give five people the opportunity to study how widely micro plastics have infiltrated the region. Over a month's time in December, they'll be trained in lab work in Chile, collect snow samples in Antarctica, climb key glaciers and even visit the South Pole.
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NewsPlexus Media September 25, 2019

Big players jump into the stream, testing Netflix dominance
Shares of Netflix are opening in negative territory for the year — the first time that's happened since 2016 — as major media players step into the stream to fight for subscribers. The streaming service revolutionized the way people watch TV and because of its success, there was little doubt that major tech and media companies would come knocking.
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NewsPlexus Media September 25, 2019

Stocks fall as Democrats turn up heat on Trump
Stocks dropped on Wall Street Tuesday as House Democrats met to consider a potential impeachment probe of President Donald Trump and a report showed a drop in consumer confidence. After a higher open, stocks declined as the Conference Board, a business research group, reported its consumer confidence index fell to 125.1 in September from a revised reading of 134.2 in August. That's worrisome because consumer spending has underpinned the economy during a slowdown in manufacturing.
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NewsPlexus Media September 25, 2019

WeWork CEO stepping aside amid questions about company
WeWork's charismatic but controversial CEO is stepping aside from the communal office-space company he founded, another moment of reckoning between the fast-growing startup and its disenchanted investors. The New York-based company said Tuesday that Adam Neumann will be replaced by two co-CEOs: Artie Minson, formerly co-president and chief financial officer, and Sebastian Gunningham, formerly vice chairman. Neumann will remain on its board as non-executive chairman.
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NewsPlexus Media September 22, 2019

Walgreens, Google affiliate to launch drone delivery test
Walgreens and a Google affiliate are testing drone deliveries that can put drugstore products on customer doorsteps minutes after being ordered. Snacks like Goldfish Crackers or gummy bears as well as aspirin for sick kids will be delivered starting next month in Christiansburg, Virginia, by a 10-pound drone flying as fast as 70 miles per hour, the companies said Thursday.
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