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CBS chief George Cheeks pledges to support team amid chaos and Trump threats

Business / Business News /

With Paramount Global's sale stuck before federal regulators and a potential settlement looming with President Trump in a dispute over CBS News' "60 Minutes," Paramount co-Chief Executive George Cheeks on Wednesday sought to project a sense of business as usual.

Cheeks and CBS Entertainment President Amy Reisenbach unveiled the network's new ...Read more

Rob Nikolewski/The San Diego Union-Tribune/TNS

California's power grid looks steady heading into summer but risks remain

Business / Business News /

California energy officials say the chances of major power outages are relatively low as the state heads into what could be another broiling summer, but they are quick to add that any number of variables could upend the outlook.

“Extreme or sudden onset events could still create tight grid conditions, especially if they are coincidental with ...Read more

Clarence Tabb Jr./The Detroit News/TNS

EV maker Bollinger Motors, low on cash, will be run by court-appointed receiver

Business / Business News /

Bollinger Motors Inc., the once high-flying Oak Park, Michigan, electric truck maker founded a decade ago, is now struggling to make payroll and a court-appointed receiver is set to take control of its daily operations and remaining assets.

U.S. District Judge Terrence Berg on Wednesday said the company would go into receivership amid its ...Read more

The Walt Disney Company/TNS/TNS

Disney planning theme park resort in Abu Dhabi

Business / Business News /

Walt Disney Co. is planning a theme park resort for Abu Dhabi in the United Arab Emirates, the company confirmed Wednesday. The attraction will be on the waterfront of Yas Island, already a leisure travel destination.

The new resort will be built, financed and operated by Miral, an Abu Dhabi-based developer. Walt Disney Co. and Walt Disney ...Read more

Hyundai/TNS/TNS

Georgia Hyundai factory fined for violating state wastewater rules

Business / Business News /

Georgia environmental regulators have fined the hulking Hyundai electric vehicle factory near Savannah $30,000 for violating state wastewater disposal rules.

The $7.6 billion facility, known as the Hyundai Motor Group Metaplant America, opened in October and is the largest economic development project in Georgia history. The plant manufactures ...Read more

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WeightWatchers Files Bankruptcy After Growth in GLP-1 Drugs

Business / Business News /

WeightWatchers, known for its diet programs once endorsed by celebrities including Oprah Winfrey, has filed for bankruptcy after struggling to compete with drugs like Ozempic and the rise of TikTok fitness influencers.

The company — which rebranded to WW International Inc. — filed a prepackaged Chapter 11 petition to execute a lender-backed...Read more

Bizuayehu Tesfaye/Las Vegas Review-Journal/TNS

Windy City to Sin City: Robot manufacturer moves headquarters to Las Vegas

Business / Business News /

A robot manufacturer has moved its headquarters from the Windy City to Sin City.

AAA20 moved its headquarters from Chicago to Las Vegas in late April. It specializes in manufacturing robots for factories, to minimize hard labor and increase productivity.

The company has a 9,000-square-foot facility off Pilot Road near Harry Reid International ...Read more

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Apple eyes move to AI search, ending era defined by Google

Business / Business News /

Apple Inc. is “actively looking at” revamping the Safari web browser on its devices to focus on AI-powered search engines, a seismic shift for the industry hastened by the potential end of a longtime partnership with Google.

Eddy Cue, Apple’s senior vice president of services, made the disclosure Wednesday during his testimony in the U.S...Read more

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Parmy Olson: OpenAI can't have its money both ways

Business / Business News /

Sam Altman’s reputation for spin was out in full force this week in a published “letter to employees” announcing that he was abandoning plans to turn OpenAI into a for-profit company. Instead, it will “continue to be overseen and controlled” by its nonprofit board.

Hooray for humans, you might think, since that board has a unique ...Read more

U.S. District Court, Southern District of Florida/U.S. District Court, Southern District of Florida/TNS

Suit claiming Burger King showed misleading photos of burgers can go forward, judge rules

Business / Business News /

A class-action lawsuit accusing Burger King of misrepresenting the size of its Whopper sandwiches in advertisements and in-store menu boards is moving forward after a federal judge declined, for a second time, to dismiss the case.

The lawsuit, filed in U.S. District Court in Miami in March 2022, alleges that Burger King deceived customers by ...Read more

Bizuayehu Tesfaye/Las Vegas Review-Journal/TNS

Windy City to Sin City: Robot manufacturer moves headquarters to Las Vegas

Business / Business News /

A robot manufacturer has moved its headquarters from the Windy City to Sin City.

AAA20 moved its headquarters from Chicago to Las Vegas in late April. It specializes in manufacturing robots for factories, to minimize hard labor and increase productivity.

The company has a 9,000-square-foot facility off Pilot Road near Harry Reid International ...Read more

Handout/Ford Motor Company/TNS

Ford increases prices on Mexico-built vehicles after tariff hike

Business / Business News /

Ford Motor Co. is increasing prices on its Mexico-built vehicles by as much as $2,000, becoming one of the first automakers to announce a price hike because of tariffs.

Changes on dealer invoices became effective May 2 on the Maverick small pickup, Bronco Sport SUV and Mustang Mach-E all-electric crossover, according to the memo obtained by The...Read more

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Nevada Supreme Court to hear Rupert Murdoch case this week

Business / Business News /

The Nevada Supreme Court will hear oral arguments on Wednesday over whether media and the public can have access to legal records involving the family trust of media titan Rupert Murdoch.

Six national media outlets — The New York Times, CNN, The Associated Press, National Public Radio, The Washington Post and Reuters — have been attempting ...Read more

Alex Kormann/Minneapolis Star Tribune/TNS

Mattel considers price hikes in response to tariffs after Trump says kids don't need a lot of dolls

Business / Business News /

Barbie girls could be living in a more expensive world.

Mattel Chief Executive Ynon Kreiz said the El Segundo-based toy maker behind Barbie and Hot Wheels is considering raising the prices of U.S. toys because of the 145% tariffs the Trump administration imposed on Chinese imports.

"We are taking mitigating actions designed to fully offset the...Read more

Barbara Haddock Taylor/Baltimore Sun/TNS

Under Armour seeks tariff exemption for footwear

Business / Business News /

Calling tariffs on imported footwear an “emergency” for U.S. workers and consumers, Under Armour and its biggest shoe rivals are pleading to the Trump administration for an exemption.

The Baltimore-based athletic shoe brand has joined retailers and manufacturers such as Adidas America, Columbia Sportswear, Crocs, Nike and Puma in a trade ...Read more

E. Jason Wambsgans/Chicago Tribune/TNS

Once an Illinois darling, electric school bus maker Lion faces likely liquidation

Business / Business News /

Lion Electric opened its sprawling 900,000-square-foot plant near Joliet, Illinois, in 2023, touting the potential for 1,400 new jobs.

The Quebec-based electric school bus maker found eager customers in Illinois school districts, which wanted to take advantage of generous federal grants, reduce pollution and give kids a cleaner, quieter ride to...Read more

Why the new Rite Aid bankruptcy could kill Seattle's Bartell Drugs

Business / Business News /

Rite Aid plans to sell off all of its assets, including Seattle staple Bartell Drugs, as it again files for bankruptcy protection.

The national drugstore chain emerged from Chapter 11 bankruptcy last September after cutting its debt and shuttering stores across the country, including every Bartell store in downtown Seattle. Rite Aid also closed...Read more

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Airbus backs European tariffs on Boeing if talks with US fail

Business / Business News /

Europe should impose reciprocal measures on Boeing Co. if negotiations fail to lift recent U.S. tariffs hurting the aerospace industry, according to Airbus SE Chief Executive Officer Guillaume Faury.

“Europe is in negotiations, and if these negotiations do not lead to a positive outcome, I imagine that — and this is what we hope for — ...Read more

L.E. Baskow/Las Vegas Review-Journal/TNS

What's behind all the recent layoffs at Las Vegas casinos?

Business / Business News /

Reports of layoffs at various Las Vegas casinos have been popping up for several months now, raising questions about whether the gaming industry is nearing an end to the post-COVID economic boom.

Experts and executives say the staff adjustments are strategic, part of a long-term shift toward greater efficiency and profitability in a post-...Read more

Daniel Mears/The Detroit News/TNS

United Wholesale Mortgage reports loss for first quarter, increase in loan volume

Business / Business News /

United Wholesale Mortgage reported a first-quarter net loss of $247 million on total revenue of $613.5 million, down from a profit of $180.5 million during the same period last year. A $388 million reduction in the fair value of its mortgage servicing rights portfolio impacted the results, the Pontiac, Michigan-based lender said Tuesday.

The ...Read more