Business

FAA Threatens Southwest Over Safety Standards

The Associated Press reports: Federal regulators have threatened to ground dozens of Southwest Airlines jets if the airline can’t confirm that the planes, which it bought used from foreign operators, meet all safety standards. The Federal Aviation Administration said Monday it has validated some major repairs to the planes, and it is asking Southwest for more frequent updates until the …

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Bernie: Apple Is “Throwing Pennies” At Crisis It Created

The Hill reports: Sen. Bernie Sanders (I-Vt.) on Monday accused Apple of “throwing pennies at a housing crisis” that it “helped create” after the tech giant announced it will spend $2.5 billion on affordable housing in California. The presidential candidate released a statement ripping Apple’s “hypocrisy” and saying he would require large companies to pay “their fair share” in order …

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Apple Pledges $2.5B To Combat CA Housing Crisis

Axios reports: Apple CEO Tim Cook, unveiling a $2.5 billion plan to help alleviate California’s housing availability and affordability crisis, told Axios in an interview that Apple feels “a profound responsibility” to the region where it was born and thrived.  “It’s just unsustainable,” Cook said. “This problem is so big that the public sector cannot do it alone.” Many teachers …

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McDonald’s Cans CEO Over “Consensual Relationship”

The Associated Press reports: McDonald’s chief executive officer has been pushed out of the company after violating company policy by engaging in a consensual relationship with an employee, the corporation said Sunday. The fast food giant said former president and CEO Steve Easterbrook demonstrated poor judgment, and that McDonald’s forbids managers from having romantic relationships with direct or indirect subordinates. …

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Nation’s Largest Private Coal Producer Goes Bankrupt

The Columbus Dispatch reports: Murray Energy Corp., the U.S. coal giant that had pressed the Trump administration for help, has filed for bankruptcy. The largest closely held coal miner in America failed to make multiple payments to lenders this month, prompting a deal with creditors that will see them make a “stalking horse” bid under Chapter 11 bankruptcy to exchange …

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Lawsuit Claims Southwest Pilots Hid Cam In Lavatory

Arizona Central reports: A Phoenix-based Southwest Airlines flight attendant has sued the airline, accusing the Dallas-based carrier of retaliation after she reported spotting two pilots livestreaming video from the lavatory to an iPad in the cockpit on one of her flights. Renee Steinaker was working as a flight attendant on Flight 1088 between Pittsburgh and Phoenix. The suit alleges that …

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New Jersey AG Seeks To Revoke Trump Liquor License

Fox News reports: New Jersey’s attorney general is seeking to revoke the liquor license for one of President Trump’s three golf courses in the state in response to a 2015 fatal crash involving an intoxicated driver who flipped his car after he’d just played a round of golf at the club, according to reports. New Jersey Attorney General Gurbir Grewal …

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REPORT: Dick’s CEO Mulls Third-Party White House Bid

Politico reports: Ed Stack, the CEO of Dick’s Sporting Goods and a longtime Republican donor, is testing the waters for a possible third-party presidential bid that could scramble the dynamics of the 2020 general election. Various messages were presented to a focus group in southern Wisconsin this week centering on the billionaire businessman, along with possible three-way match-ups against Donald …

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Trump Scrubs Name From Manhattan Skating Rinks

ABC New York reports: At two of President Trump’s oldest businesses — a pair of ice rinks in Central Park, which Trump has run since the 1980s — Trump Organization employees did something unusual in the past few weeks. They started removing the Trump name. Now, as skating season begins, the president’s name is gone from the boards around each …

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New York Leads 47 States In Facebook Antitrust Probe

Axios reports: The multi-state antitrust investigation into Facebook, which moved forward Monday as state officials met with experts, now counts 47 attorneys general among its membership. Facebook is facing attacks on all fronts, with antitrust scrutiny of the company’s size and power also taking shape at the Federal Trade Commission, the Justice Department and Congress. New York Attorney General Letitia …

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Obamacare Premiums To Dip Despite GOP Sabotage

The New York Times reports: Nearly three years into President Trump’s aggressive efforts to undermine the Affordable Care Act, prices for the most popular type of health insurance plan offered through the health law’s federal marketplace will actually drop next year, and the number of insurers offering plans will go up. Administration officials credited Mr. Trump with the resiliency of …

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Qantas Tests 19-Hour Non-Stop Commercial Flight

CNN reports: Australian airline Qantas has completed the longest non-stop commercial passenger flight, researching the potential impacts of ultra-long haul flights on pilots, crew and passengers. With 49 people on board, the Boeing 787-9 Dreamliner flight completed the 10,066-mile journey from New York to Sydney in 19 hours and 16 minutes. Cameras were mounted in the cockpit to record pilot …

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Billions In US Tariffs On EU Products Goes Into Effect

Agence France-Presse reports: The United States imposed tariffs on a record $7.5-billion worth of European Union goods on Friday, despite threats of retaliation, with Airbus, French wine and Scottish whiskies among the high-profile targets. The tariffs, which took effect just after midnight in Washington (0401 GMT), came after talks between European officials and US trade representatives failed to win a …

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GM Reaches Tentative Deal With Striking Autoworkers

CNBC reports: General Motors and union leaders have reached a tentative deal on a new labor contract that could end the United Auto Workers’ month-long strike against the automaker, the UAW said Wednesday. Details of the proposed deal were not immediately available. However, the union’s roughly 48,000 members with GM are expected to receive raises and bonuses as part of …

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Major Partners Bail From Facebook’s Cryptocurrency

The Associated Press reports: On Friday, Visa and MasterCard announced their departures from the Libra project, as did e-commerce giant eBay and payments startup Stripe. Last week, PayPal became the first major company to drop out of Libra. The exodus comes amid growing — not to mention stronger-than-anticipated — regulatory pushback against Libra in the U.S. and elsewhere. “It’s a …

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CALIFORNIA: 800K To Lose Power To Prevent Wildfires

The Associated Press reports: Millions of people in California woke up in the dark Wednesday after Pacific Gas & Electric started shutting off power to prevent what the utility called an unprecedented wildfire danger. PG&E said it cut power to more than 500,000 customers in Northern California and that it plans to gradually turn off electricity to nearly 800,000 customers …

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SCOTLAND: Trump’s Golf Resort Is Deeply In The Red

The Scotsman reports: The US president’s Trump International Golf Links firm in Aberdeenshire posted annual losses of £1.07m in 2018, marking the seventh consecutive year it has failed to turn a profit, according to documents lodged with Companies House. The figures are based on an annual turnover of £2.76m. The company remains reliant on interest free loans provided by Mr …

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Apple Files SCOTUS Brief Blasting Trump On DACA

CNBC reports: Apple CEO Tim Cook said in a filing to the Supreme Court on Wednesday that the company disagrees with President Trump’s decision to terminate DACA, the Obama-era program that shields some immigrants without documentation from being deported. ″We are distressed at the prospect of ripping our DACA colleagues from the fabric of our company,” Cook and HR head …

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WINNING: US Manufacturing Contracts To Decade Low

MarketWatch reports: Manufacturing contracted for a second consecutive month in September, falling to lowest its level of activity in a decade, according to the Institute for Supply Management (ISM). The group’s production manufacturing index slid to 47.8, down from 49.1 percent in August. Any reading below 50 percent indicates contraction. Trade was one of the main factors weighing down manufacturing. …

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New Bernie Plan: Tax Companies With Highly-Paid CEOs

Politico reports: Bernie Sanders has a new plan to reduce the widening gap between the rich and poor. The presidential candidate and decades-long crusader against income inequality unveiled a proposal Monday to raise taxes on businesses whose CEOs make at least 50 times more than their median workers. The boost in corporate taxes would be imposed on companies that bring …

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