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July 11, 2019

Amazon Minnesota warehouse workers plan 'Prime Day' strike
Workers at an Amazon warehouse in suburban Minneapolis said Monday they'll hit the online retail and entertainment giant with a brief strike next Monday — its heavily touted "Prime Day" — in a continuing push to improve pay and working conditions for the facility's heavily East African workforce.
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July 11, 2019

US consumers step up borrowing at healthy pace in May
U.S. consumers borrowed more on their credit cards in May and also took out more student and auto loans, a modest sign of economic health. The Federal Reserve said Monday that consumer borrowing increased 5% that month, just below April's 5.2% rise. Total outstanding consumer debt, which excludes mortgages, stood at nearly $4.1 trillion in May.
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July 11, 2019

Nintendo shifts some Switch production from China to Vietnam
Nintendo Co. plans to start making its Switch video game console in Vietnam this year, transferring some of its production from China. A company spokesman said the change has been in the works for some time, to reduce risks that come from having production in one nation. He denied it was a direct response to the growing trade friction between the U.S. and China.
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July 9, 2019

Space-tourism biz Virgin Galactic going public after merger
Richard Branson's space-tourism venture, Virgin Galactic, is planning to go public, creating the first listed human spaceflight firm. Virgin Galactic said Tuesday it is merging with Social Capital Hedosophia, whose CEO, Chamath Palihapitiya, will become chairman of the combined entity. The value of the merger was put at $1.5 billion.
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July 9, 2019

Amazon, Microsoft wage war over the Pentagon's 'war cloud'
Amazon and Microsoft are battling it out over a $10 billion opportunity to build the U.S. military its first "war cloud" computing system. But Amazon's early hopes of a shock-and-awe victory may be slipping away. Formally called the Joint Enterprise Defense Infrastructure plan, or JEDI, the military's computing project would store and process vast amounts of classified data, allowing the Pentagon to use artificial intelligence to speed up its war planning and fighting capabilities.
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July 9, 2019

US job openings fell 0.7% in May
Job openings posted by U.S. employers slipped 0.7% in May, while hires that month tumbled 4.4% in a sign that the job market may be cooling slightly. The Labor Department says employers posted 7.3 million jobs in May. They hired 5.7 million, down from the record 6 million achieved in April.
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July 8, 2019

US adds solid 224,000 jobs, making Fed rate cut less certain
U.S. employers sharply stepped up their hiring in June, adding a robust 224,000 jobs, an indication of the economy's durability after more than a decade of expansion. The strength of the jobs report the government issued Friday could complicate a decision for the Federal Reserve late this month on whether to cut interest rates to help support the economy. Most investors have anticipated a rate cut in July and perhaps one or two additional Fed cuts later in the year. That scenario may be less likely now.
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July 6, 2019

Chip and Joanna Gaines have been brewing up a coffee shop called Magnolia Press
Joanna Gaines, self-proclaimed coffee lover, has created her version of a coffee shop, and it’s opening in Waco, Texas, this fall. The idea for a coffee shop started a year ago when the Gaineses bought an old building next to their Magnolia Market at the Silos.
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July 6, 2019

Why Texas has a new law about plastic delivery crates from grocery stores
Sometimes the world changes enough that new crimes emerge and new laws have to be written. The just-completed Texas Legislature dealt with one of those. Retailers, bakeries and other food and beverage companies have lobbied the Legislature for years to create penalties to help prevent the theft of plastic delivery crates. Plastic tray thefts are costing U.S. companies tens of millions of dollars a year because thieves have found a way to turn them into cash.
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July 6, 2019

MAD Magazine leaving newsstands, effectively shutting down after 67 years
MAD Magazine is folding – but not for fun this time. The highly influential humor magazine — famous for its gap-toothed mascot Alfred E. Neuman, social satire and fold-in back covers — is due to stop publishing newsstand issues after its upcoming October edition, multiple people close to the title claim. After that it’s expected to become a reprint title only, ending its illustrious 67-year run publishing original content.
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July 6, 2019

African American newspaper Chicago Defender ceasing print publication
The Chicago Defender, an influential African American newspaper for more than a century, is ceasing print publication next week and switching to a digital-only format. “This is a difficult decision, but I think it’s the right decision,” Hiram Jackson, CEO of Defender parent company Real Times Media, said Friday. “The Defender is about providing information to the African American community. The numbers are evident that the best way to do that is through doubling down on our digital platform.”
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July 6, 2019

Retailers roll out luxury camping items
Tent? Check. Sleeping bag? Check. Rocking chair, air mattress and insulated coffee press? Hard-charging backcountry adventurers might scoff at the idea of lugging such luxuries. But for many, getting outside doesn’t mean going off the grid, and camping retailers are rolling out items that let consumers bring at least some of the comforts of home into the great outdoors.
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July 6, 2019

‘Vietnamese American Starbucks’ unites brothers whose drive stems from poverty
When the Nguyen brothers opened their first 7 Leaves coffee shop in 2012, they didn’t dare tell their mother and father. The siblings feared that they would be devastated. After all, their parents were Vietnamese migrants who fled their war-ravaged homeland in the 1990s and eventually settled in Orange County, California’s Little Saigon. They’d dreamed that their four boys would grow up to be successful white-collar professionals, not purveyors of creamy jasmine and mung bean tea drinks and aromatic Asian-style iced coffees.
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July 6, 2019

The Bay Area’s technology boom is so robust that it has reached record highs, but the remarkable surge has also reduced Santa Clara County’s share of tech employment in the nine-county region as the San Francisco-San Mateo area has gained a bigger piece of the pie. Tech employment — the economic engine of Silicon Valley for two decades — continues to grow at a rate faster than all other sectors and has soared well above the lofty pinnacles of the dot-com era.
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July 6, 2019

‘Vietnamese American Starbucks’ unites brothers whose drive stems from poverty
When the Nguyen brothers opened their first 7 Leaves coffee shop in 2012, they didn’t dare tell their mother and father. The siblings feared that they would be devastated. After all, their parents were Vietnamese migrants who fled their war-ravaged homeland in the 1990s and eventually settled in Orange County, California’s Little Saigon. They’d dreamed that their four boys would grow up to be successful white-collar professionals, not purveyors of creamy jasmine and mung bean tea drinks and aromatic Asian-style iced coffees.
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newsbusiness financenews ustype-text

July 6, 2019

‘Vietnamese American Starbucks’ unites brothers whose drive stems from poverty
When the Nguyen brothers opened their first 7 Leaves coffee shop in 2012, they didn’t dare tell their mother and father. The siblings feared that they would be devastated. After all, their parents were Vietnamese migrants who fled their war-ravaged homeland in the 1990s and eventually settled in Orange County, California’s Little Saigon. They’d dreamed that their four boys would grow up to be successful white-collar professionals, not purveyors of creamy jasmine and mung bean tea drinks and aromatic Asian-style iced coffees.
Read More

newsbusiness financenews ustype-text

July 6, 2019

‘Vietnamese American Starbucks’ unites brothers whose drive stems from poverty
When the Nguyen brothers opened their first 7 Leaves coffee shop in 2012, they didn’t dare tell their mother and father. The siblings feared that they would be devastated. After all, their parents were Vietnamese migrants who fled their war-ravaged homeland in the 1990s and eventually settled in Orange County, California’s Little Saigon. They’d dreamed that their four boys would grow up to be successful white-collar professionals, not purveyors of creamy jasmine and mung bean tea drinks and aromatic Asian-style iced coffees.
Read More

newsbusiness financenews ustype-text

July 6, 2019

‘Vietnamese American Starbucks’ unites brothers whose drive stems from poverty
When the Nguyen brothers opened their first 7 Leaves coffee shop in 2012, they didn’t dare tell their mother and father. The siblings feared that they would be devastated. After all, their parents were Vietnamese migrants who fled their war-ravaged homeland in the 1990s and eventually settled in Orange County, California’s Little Saigon. They’d dreamed that their four boys would grow up to be successful white-collar professionals, not purveyors of creamy jasmine and mung bean tea drinks and aromatic Asian-style iced coffees.
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July 4, 2019

Major U.S. indexes are closing at record highs on a holiday-shortened trading day.
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July 4, 2019

Asian shares climb after US benchmarks hit record highs
Shares opened higher in Asia on Thursday, tracking the ascent by major U.S. indexes to record highs. The rally follows a slight easing of trade tensions between the U.S. and China after they agreed to refrain from new tariffs pending a new round of negotiations. That has relieved some pressure on markets, though the trade war still overshadows the global economic outlook.
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July 1, 2019

Facebook to make jobs, credit ads searchable for US users
Facebook says it will make advertisements for jobs, loans and credit card offers searchable for all U.S. users following a legal settlement designed to eliminate discrimination on its platform. The plan disclosed in an internal report Sunday voluntarily expands on a commitment the social medial giant made in March when it agreed to make its U.S. housing ads searchable by location and advertiser.
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July 1, 2019

Dutch farm floats possibilities of urban dairy production
Peter van Wingerden's dairy farm smells just like any other farm — the rich aroma of cow manure and grass hangs in the air around the unusual stable housing the cattle. The farm itself is far from traditional. Moored in a small harbor in Rotterdam's busy port, the farm is a futuristic three-story floating structure where one robot milks the cows and another automatically scoops up the manure that gives the enterprise its familiar smell.
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July 1, 2019

Report: Apple to shift assembly of Mac Pro from US to China
Apple will manufacture its new Mac Pro computer in China, shifting away from a U.S. assembly line it had been using for that product in recent years. The company intends to assemble the new Mac Pro in a factory near Shanghai. Apple issued a statement saying the new Mac Pro will be designed and engineered in California, but wouldn't say where it will be assembled.
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July 1, 2019

It's tough to decide when to start taking Social Security benefits and it appears many people are shorting themselves with their choice. A new study finds that only 4% of retirees start claiming their Social Security benefits at the most financially optimal time. And current retirees collectively will lose $3.4 trillion in potential income to fund their retirement because they started drawing benefits at a less than ideal time.
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July 1, 2019

Lego strikes deal to buy Legoland, Madame Tussauds
The owners of toy maker Lego are teaming up with a group of investors to buy Merlin Entertainment, a British company that operates theme parks like Legoland and the Madame Tussauds wax museums.
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July 1, 2019

Facebook's digital currency may flourish in the analog world
Europeans and Americans have their Visa and Mastercards. For everyone else, here comes ... Libra? Facebook's new Libra digital currency is aimed at a huge potential market for financial services — the entire developing world, with billions of people in areas such as India and Sub-Saharan Africa, where financial services are often less sophisticated and many people don't use traditional banking accounts.
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July 1, 2019

Secondhand fashion site The RealReal shares rise in debut
Shares of The RealReal jumped on their first day of trading Friday, as the secondhand-fashion online retailer tests investors' appetite for the staying power of online marketplaces for pre-owned discounted Gucci and other luxury goods.vThe San Francisco company, founded in 2011 by CEO Julie Wainwright, debuted on the Nasdaq Stock Market and is listed under the ticker "REAL." Late Thursday, the initial public offering of 15 million shares was priced at $20 a share, above an expected range of $17 to $19 a share. That would raise $300 million before expenses.
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June 30, 2019

Wayfair workers protest furniture sale to detention center
Employees at online home furnishings retailer Wayfair walked out Wednesday to protest the company's decision to sell $200,000 worth of furniture to a government contractor that runs a detention center for migrant children in Texas. The protest triggered a broader backlash against the company, with some customers calling for a boycott.
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June 30, 2019

Ford restructuring to cost 12,000 jobs in Europe
Carmaker Ford said Thursday it is shedding 12,000 jobs in Europe to increase profitability, part of a global trend of cost cuts by automakers facing shifting consumer tastes and heavy investments in electric cars. The job losses amount to about a fifth of Ford's work force in Europe and are part of a broad restructuring that includes the previously announced closure of six plants. Ford is reducing its total number of plants in the region to 18.
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June 28, 2019

Amazon adds new option: Buy on Amazon, pick up at Rite Aid
Amazon is adding a new way to get your packages: head over to another store's sales counter to pick it up. Starting Thursday, Amazon shoppers will be able to fetch their orders at more than 100 Rite Aid stores across the United States. It will expand to 1,500 Rite Aid locations by year-end. And Amazon said it's looking to bring the service to other stores, both big and small.
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June 28, 2019

Jony Ive, the designer behind the iPhone, is leaving Apple
The man behind the iconic designs of the iPhone, iMac and iPad is leaving Apple. Chief Design Officer Jony Ive is departing after more than two decades at Apple to start his own design firm, the company said Thursday. But he's not completely severing ties with the company he has worked at for nearly 30 years. Apple said it will be one of Ive's clients at his new firm.
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June 28, 2019

Facebook enlists plain English to clarify how it makes money
Facebook is updating its terms and services guidelines to clarify how it makes money from the personal information of its users. The changes reflect its ongoing attempts to satisfy regulators in the U.S. and Europe, which have urged the company to make sure users know what they are signing up for.
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June 20, 2019

Waymo teams up with Renault, Nissan on robotaxis outside US
Self-driving car pioneer Waymo is teaming up with automakers Renault and Nissan to make its first journey outside the U.S. with a ride-hailing service that will dispatch a fleet of robotaxis in France and Japan. The partnership announced late Wednesday underscores Waymo's ambition to deploy its driverless technology throughout the world in an attempt to revolutionize the way people get around. The Mountain View, California, company can afford to try because it's backed by one of the world's richest companies, Google, which secretly began working on driverless technology a decade ago before spinning off that project into what is now known as Waymo.
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June 20, 2019

Businesses, watching economy, play it safe with hiring
Small business owners, their eye on the economy, are playing it even safer when it comes to hiring. A U.S. Chamber of Commerce-MetLife survey released last week found that 28% of small businesses plan to increase their staffs in the next year, down slightly from 29% in the first quarter. The survey, taken between early April and early May, found that hiring was likely to be weaker in some industries; for example, 24% of retailers said the plan to hire, down significantly from 30% three months earlier.
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June 20, 2019

Small media company to run Sports Illustrated for new owner
The company that recently bought Sports Illustrated has found someone to run it: a small media company called Maven. Authentic Brands Group bought Sports Illustrated from publishing giant Meredith last month. At the time, the companies said Meredith would run the magazine and the SI.com website for at least two years under a licensing deal.
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June 19, 2019

Google puts up $1B to ease housing headaches it helped cause
Google is pouring $1 billion into easing the high-priced housing headaches that it and its Silicon Valley peers helped give the San Francisco Bay Area. The pledge announced Tuesday by Google CEO Sundar Pichai consists of a $250 million investment fund and $750 million of company-owned land. It will be used to build at least 15,000 homes that will include low- and mid-income housing.
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June 19, 2019

Facebook's currency Libra faces financial, privacy pushback
Facebook is getting a taste of the regulatory pushback it will face as it creates a new digital currency with corporate partners. Just hours after the social media giant unveiled early plans for the Libra cryptocurrency, French Finance Minister Bruno Le Maire insisted that only governments can issue sovereign currencies. He said Facebook must ensure that Libra won't hurt consumers or be used for illegal activities.
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June 19, 2019

Marijuana industry sets environmental, ethical goals
An alliance of large marijuana businesses had a message for the public Tuesday: We're good corporate citizens. The 45-member Global Cannabis Partnership, which includes Canopy Growth Corp. and other companies operating in the sector, issued guidelines aimed at minimizing greenhouse gas emissions and promoting ethical conduct and responsible pot use.
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June 16, 2019

Top dog: Shares of online pet store Chewy soar in debut
Chewy, the online seller of pet food and squeaky toys, made a strong showing in its debut on the New York Stock Exchange Friday, with investors banking on the growing pet industry. Its shares soared 59% Friday under the symbol "CHWY," putting the company's market value at about $14 billion.
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June 16, 2019

Growers hope standards bring order to hemp industry 'mess'
A unit of wheat is called a bushel, and a standard weight of potatoes is called a century. But hemp as a fully legal U.S. agricultural commodity is so new that a unit of hemp seed doesn't yet have a universal name or an agreed-upon quantity. That's one example of the startling lack of uniformity — and accountability — in an industry that's sprung up almost overnight since the U.S. late last year removed hemp from the controlled substances list.
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June 16, 2019

Target's tech trouble clogs stores with long checkout lines
A glitch stalled checkout lines at Target stores worldwide Saturday, exasperating shoppers and potentially eating into sales at a prime time for retailers, the day before Father's Day. The roughly two-hour outage periodically prevented Target's cashiers from scanning merchandise or processing transactions as long lines formed in some stores. Self-checkout registers, usually the speediest of options, also weren't working at times.
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June 16, 2019

Not to be outdone, Tyson enters plant-based meat market
The fast-growing market for meat alternatives has a surprising new player: Tyson Foods. Tyson, one of the world's largest meat producers, will begin selling nuggets made from pea protein at grocery stores this summer. A blended burger made from beef and pea protein will follow this fall. Both will be sold under a new brand, Raised and Rooted, which will continue to develop plant-based and blended products for both groceries and restaurants.
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June 16, 2019

Airbnb to recreate trip from 'Around the World in 80 Days'
A lucky few will be able to live the adventures of Phileas Fogg from Jules Verne's classic "Around the World in 80 Days." Hosted by Airbnb, a small number of guests will travel across 18 countries using eight modes of transportation, including a hot air balloon, to promote a new collection of available bookings called Airbnb Adventures.
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June 16, 2019

Target ups the ante in online delivery wars
In the latest salvo in the delivery wars, Target is offering same-day delivery on thousands of items for $9.99 per order through a delivery startup it purchased nearly two years ago Until now, Target shoppers looking to receive same-day delivery through Shipt had to go to the startup's website and pay $99 for an annual membership or $14 for a monthly membership.
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June 14, 2019

Hundreds of lucrative federal jobs are headed to the Kansas City area after the U.S. Department of Agriculture announced plans Thursday to relocate two research agencies to the region. A two-state proposal from Kansas and Missouri beat out 135 other bids to become new headquarters for the Economic Research Service and National Institute of Food and Agriculture, two of the USDA’s principal research agencies.
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June 14, 2019

Legal pot makes it harder to recruit truck drivers, industry leader says
As the trucking industry struggles with a driver shortage, the president of a major lobby placed part of the blame on wider acceptance by states of marijuana use. American Trucking Associations President and CEO Chris Spear told lawmakers at a Wednesday hearing that legalization of recreational marijuana by states is making it harder for the industry to find drug-free drivers. Still, low pay and poor working conditions are also hurdles to industry recruitment, according to a union leader.
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June 10, 2019

Barnes & Noble, with sales falling, is sold to hedge fund
Barnes & Noble is being acquired by a hedge fund for $476 million and will be taken private. The national chain that many blamed for the demise of independent bookstores has been ravaged by Amazon.com and other online sellers, but remains a critical outlet for publishers. On Friday, it was acquired by Elliott Management and, in a twist, will likely become a national chain with a business model more akin to that of a local bookstore.
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June 10, 2019

Stranger in the kitchen: Walmart to deliver inside homes
Walmart is now offering to have one of its employees deliver fresh groceries and put them in your refrigerator when you're not home. The nation's largest grocer said that it will be offering the service this fall for more than one million customers in three cities: Pittsburgh, Kansas City, Missouri, and Vero Beach, Florida. Later this year, the service, called InHome Delivery, will also accept returns for items purchased on Walmart.com.
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June 9, 2019

Grocery stores owned by Kroger across the country are recalling store-label frozen berries because they might be contaminated with hepatitis A. There have been no reported illnesses.
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June 8, 2019

US hiring slows amid trade rifts and weaker global economy
U.S. hiring stumbled in May as employers added just 75,000 jobs, a sign that businesses have become more cautious in the face of weaker global growth, widening trade conflicts and perhaps some difficulty finding enough workers.
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