Business

Federal Appeals Court Upholds Volkswagen’s $10 Billion “Dieselgate” Settlement, Nissan Admits Falsifying Data

Reuters reports: A federal appeals court on Monday upheld Volkswagen’s $10.03 billion settlement with the owners of nearly 500,000 polluting diesel vehicles announced in 2016. The three-judge panel of the U.S. 9th Circuit Court of Appeals said, in dismissing a number of objections to the settlement, that it “delivered tangible, substantial benefits to class members, seemingly the equivalent of — ...

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Mexico Hits Back With New Round Of Retaliatory Tariffs

Politico reports: Mexico on Thursday began imposing its second stage of retaliatory tariffs on dozens of U.S. goods in response to President Donald Trump’s duties on Mexican steel and aluminum exports to the United States. The tariffs complete Mexico’s two-part retaliation on almost $3 billion worth of U.S. products. The Mexican government, which first announced its retaliation list last month, ...

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Barnes & Noble Abruptly Fires CEO, Won’t Say Why

MarketWatch reports: Barnes & Noble Inc. has fired Chief Executive Demos Parneros, citing company policy violations. The bookseller said Tuesday that Parneros won’t receive any severance pay and that he is no longer a board member. Barnes & Noble didn’t disclose what rules Parneros may have violated, but said the decision wasn’t tied to any disagreement over financial reporting or ...

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Trump Rages: Screw Harley-Davidson, I’m Just Going To Get Other Motorcycle Companies To Move To The US

CNBC reports: President Donald Trump is blasting Harley-Davidson again for announcing it’s shifting some operations overseas in the wake of retaliatory EU tariffs against U.S. duties. Trump said on Tuesday his administration is working with other motorcycle companies to move into the U.S. Harley-Davidson said on June 25 that EU tariffs implemented would increase the average cost per motorcycle by ...

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Rite Aid Tries Barry Manilow To Chase Away “Loiterers”

The New York Post reports: He writes the songs that make people run. Some Rite Aid stores in California have taken to blasting Barry Manilow tunes as part of a plan to make loiterers scramble. Employees said that the drugstore chain has been testing the tactic of playing songs by the 75-year-old crooner outside their stores — over and over, ...

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European Automakers Brace For Trump’s Tariffs

The Washington Post reports: For as long as Donald Trump has been president, he has been threatening to slap tariffs on foreign carmakers to stop flashy German vehicles from “flooding” American streets. On Friday, he repeated the threat and attached a specific number, tweeting about a 20 percent tariff on all automobile imports from Europe. Car tariffs are shaping up ...

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Turkey Hits US With Steep Retaliatory Tariffs

When will all this endless winning ever stop? Turkey on Thursday hit back at the United States with steep tariffs on $1.8 billion of goods for President Trump’s duties on steel and aluminum imports that went into effect in March. The additional retaliatory tariffs range between 5 and 40 percent and are set to start on Thursday. Trump has imposed ...

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SCOTUS Rules States Can Collect Sales Tax On Internet Businesses That Have No Local Physical Presence

The New York Times reports: Internet retailers can be required to collect sales taxes in states where they have no physical presence, the Supreme Court ruled on Thursday. Brick-and-mortar businesses have long complained that they are disadvantaged by having to charge sales taxes while many of their online competitors do not. States have said that they are missing out on ...

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AMC Theatres Launches $20/Month Subscription

The New York Post reports: AMC Theatres, the world’s largest movie theater chain, has unveiled a $20-a-month subscription service to rival the flagging MoviePass. The theater chain on Wednesday announced a new service to its loyalty program, AMC Stubs, allowing subscribers to see up to three movies a week for a monthly fee of $19.95. That’s more expensive than the ...

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Airlines To Trump: Don’t Use Us To Fly Migrant Children

Axios reports: American Airlines and United Airlines have cautioned the Trump administration against using their planes to transport immigrant children separated from their families — repudiating Trump’s controversial “zero tolerance” that had triggered widespread outrage. The airlines’ requests came as Trump said Wednesday he will sign an executive order “in a little while” that would end his administration’s separation of ...

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EU Announces Tariffs On US Goods To Begin Friday

Reuters reports: The European Union will begin charging import duties of 25 percent on a range of U.S. products on Friday, in response to U.S tariffs imposed on EU steel and aluminum early this month, the European Commission said on Wednesday. The move confirms a tit-for-tat dispute that could escalate into a full trade war, particularly if U.S. President Donald ...

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Stocks Tumble Over Trump-China Trade Battle [VIDEO]

CBNC reports: Stocks fell sharply on Tuesday after President Donald Trump’s latest threat to China increased fears of an impending trade war between the world’s largest economies. The Dow Jones industrial average fell 324 points at the open, with Boeing and Caterpillar as the worst-performing stocks in the index. The 30-stock index also erased all of its gains for the ...

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China Blasts Trump’s Tariffs As “Extreme Blackmail”

The Associated Press reports: China’s government has denounced President Donald Trump’s threat of tariffs on $200 billion of Chinese goods as blackmail and warned it would respond with “strong countermeasures.” The Commerce Ministry on Tuesday gave no details but said Beijing is ready to “defend the interests of the Chinese people and enterprises.” Trump ordered the U.S. Trade Representative to ...

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American Airlines To Pay $45M In Price-Fixing Suit

Courthouse News reports: American Airlines agreed to pay $45 million to settle an antitrust class action accusing it of colluding with other domestic airlines to limit capacity and drive up fares, and will cooperate with the federal government as it pursues Delta and United. The Fort Worth-based airline settled under terms of a 20-page memorandum filed late Friday in District ...

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CDC: Cereal Recalled After Salmonella Sickens 73

The New York Times reports: A salmonella outbreak linked to Kellogg’s Honey Smacks cereal has sickened 73 people in 31 states, according to federal health officials, prompting a recall of some of the product this week. As of Thursday, 24 people had been hospitalized, but no deaths had been reported. Cereal boxes that have a “best if used by” date ...

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Some Canadians #BoycottUSA Over Trump’s Trade War

The New York Post reports: Blame America. Canadians have taken to practicing pocketbook diplomacy in defense of Prime Minister Justin Trudeau, who is caught in a trade war of words with President Trump, by boycotting American goods and canceling vacations to the United States, according to a report. Shoppers are shunning Kentucky bourbon, California wine and Florida oranges, and avoiding ...

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Merger Complete: Time Warner No Longer Exists

The Los Angeles Times reports: Time Warner Inc. is no more. Late Thursday, AT&T Inc. announced that it completed its $85-billion acquisition of Time Warner Inc., just two days after a federal judge in Washington gave the deal the green light. AT&T wasted little time consolidating its hard-fought prize — a blockbuster purchase that instantly transforms the phone company into ...

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Judge Approves Merger Of AT&T And Time Warner

The New York Times reports: A federal judge on Tuesday approved the blockbuster merger between AT&T and Time Warner, rebuffing the government’s effort to block the $85.4 billion deal, in a decision that is expected to unleash a wave of takeovers in corporate America. The merger would create a media and telecommunications powerhouse, reshaping the landscape of those industries. The ...

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ARKANSAS: Three Tire Makers Request Exemption From Trump’s Steel Tariffs Or They Will Go Out Of Business

Arkansas Online reports: Bekaert Corp., Kiswire America and Tokusen USA jointly requested blanket exclusion from what they described as “grade 1078 and above wire rod for tire cord” that they import, arguing that the quality of wire rod they require is unavailable from U.S.-based steel producers. If they can’t get access to the imported steel they need, the companies say ...

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INDIANA: CrossFit Executive Fired After Gym Cancels LGBT Pride-Themed Workout For “Celebrating Sin”

Indianapolis’ ABC affiliate reports: An Indianapolis CrossFit gym has closed its doors after intense backlash over a canceled pride-themed workout. A note left on the door by the management of CrossFit Infiltrate, located on W. 9th Street along the Indy Canal, says they will “no longer operate” at the current location. Several workers and members have left the gym after ...

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