Business

Walmart To Drop E-Cigs As Concern Over Vaping Rises

The New York Times reports: Walmart said on Friday that it would end sales of e-cigarettes at its United States locations. The decision comes amid growing medical concerns about the effects of vaping. In recent months, mysterious vaping-related illnesses have been on the rise. Medical authorities said on Thursday that the number of vaping-related lung illnesses had risen to 530 …

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GM Ends Insurance Payments For Striking Workers

ABC News reports: General Motors is no longer paying the health care costs for the tens of thousands of auto workers who went on strike on Monday, shifting the costs instead to a union fund. More than 49,000 union workers walked off their jobs on Sunday night, starting a nationwide strike at General Motors. As negotiations enter their third day …

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United Auto Workers Begin Strike Against GM [VIDEO]

CNN reports: The United Auto Workers union went out on strike against General Motors Sunday night, the first work stoppage in the US auto industry in 12 years. The union’s 48,000 hourly workers walked out at 31 GM factories and 21 other facilities, spread across nine states, mostly in the center of the country. It’s the largest strike by any …

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Opioid Maker Purdue Pharma Files For Bankruptcy

The New York Times reports: Purdue Pharma, maker of OxyContin, the drug widely seen as igniting the opioid crisis, filed for Chapter 11 bankruptcy on Sunday night, a move at the center of the company’s efforts to shield itself and its owners from more than 2,600 federal and state lawsuits. The terms of the filing, which include a proposed resolution …

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Auto Workers Call Strike Against General Motors

CNBC reports: The United Auto Workers union plans to strike against General Motors following the two sides not reaching a tentative deal before a Saturday night deadline. The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007. The two-day work stoppage was …

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NASCAR Rejects Gun Ads For Its Souvenir Programs

CNN reports: NASCAR rejected advertisements for its souvenir programs from multiple firearms companies earlier this summer as part of what is being seen as a “gradual shift” in its position on guns. The move may be another example of how major companies are adjusting as the nation grapples with guns in America. NASCAR’S apparent shift stunned gun enthusiasts who said …

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NY AG Busts Opioid Family For Hiding $1B Overseas

The Associated Press reports: The family that owns OxyContin maker Purdue Pharma used Swiss and other hidden accounts to transfer $1 billion to themselves, New York state’s attorney general contends in court papers filed Friday. New York — asking a judge to enforce subpoenas of companies, banks and advisers to Purdue and its owners, the Sackler family — said it …

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MoviePass To Finally Shut Down Effective Tomorrow

Variety reports: MoviePass, the long-struggling theater subscription service, finally appears to be down for the count. On Friday, MoviePass notified all of its remaining subscribers that it would be shutting down the service effective Sept. 14, 2019, because “its efforts to recapitalize MoviePass have not been successful to date,” parent company Helios and Matheson Analytics announced. “The company is continuing …

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FBI Probes Company Founded By Homocon Peter Thiel

Recode reports: Federal investigators are probing the conduct and practices of Mithril Capital, a venture capital firm co-founded by Peter Thiel, Recode has learned. US officials — including the FBI — have in recent months questioned some people close to Mithril regarding concerns of possible financial misconduct at the firm, according to people familiar with the matter who insisted on …

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Opioid Dealer Purdue To Pay $12B, Declare Bankruptcy

The Associated Press reports: Attorneys for some 2,000 local governments say they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the toll of the nation’s opioid crisis. Attorney Paul Farrell said in a text message Wednesday that they have agreed to a deal that has been on the table for several weeks. Sources with direct knowledge …

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Grocery Giant Publix Is Latest To Ban Open Carry

The Tampa Bay Times reports: Publix is joining the growing list of stores requesting that customers not openly carry guns in states where it is legal to do so. “Publix respectfully requests that only law enforcement officials openly carry firearms in our stores,” Publix said in a statement to ABC affiliate WPLG . Although Florida is not an open-carry state, …

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Texas Leads Multi-State Anti-Trust Probe Into Google

CNBC reports: Fifty attorneys general are joining an investigation into Google over possible antitrust violations, Texas Attorney General Ken Paxton, the initiative’s leader, announced Monday. The news confirms reports last week about the bipartisan investigation into Google’s practices. The bipartisan probe includes attorneys general from 48 states, the District of Columbia and Puerto Rico. California and Alabama are not involved …

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Bank Creates Market Index Based On Trump’s Tweets

CNBC reports: Donald Trump is tweeting more and it’s affecting the bond market. In fact, the president’s market-moving tweets ballooned in August as he hammered China on trade and went after the Federal Reserve on interest rates. In an attempt to quantify the impact of Trump’s tweets on the bond market, J.P. Morgan devised a “Volfefe Index” to analyze how …

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Winning: US Exports To China Plummet Another 22%

Axios reports: Imports of American products to China dropped to $10.3 billion in August, down 22% from the same month last year. Chinese exports to the U.S. also plummeted to $44.4 billion in August, down 16%. China’s trade surplus with the U.S. shrunk to $31.3 billion in August, down $27 billion from a year prior. Both sides of the escalating …

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New York Leads Multi-State Facebook Anti-Trust Probe

CNBC reports: New York State Attorney General Letitia James announced Friday she is launching a multi-state investigation into Facebook for possible antitrust violations. Facebook shares were down about 0.5% in Friday’s premarket, but did not seem to react to James’ announcement. Attorneys general of Colorado, Florida, Iowa, Nebraska, North Carolina, Ohio, Tennessee and the District of Columbia will join the …

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CVS And Wegmans Join Retail Ban On Open Carry

CNN reports: Five retailers have announced this week that they will start asking customers not to openly carry guns into their stores in states where open carry is legal. The moves represent a major shift in the way retailers are positioning themselves in the gun debate. Walgreens, CVS, and Wegmans announced the new policy Thursday afternoon, following announcements from Walmart …

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Trump Seeks To Privatize Fannie Mae And Freddie Mac

The Washington Post reports: The Trump administration released a sweeping plan Thursday that could remake the U.S. housing market, starting with ending more than a decade of government control of two massive companies, Fannie Mae and Freddie Mac, that back half of the nation’s mortgages. The long-awaited plan from the Treasury Department features nearly 50 proposals, including many technical changes …

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Walgreens Joins Other Retailers In Ending Open Carry

The Associated Press reports: Walgreens has changed its policy to prohibit the open carrying of firearms. Walgreens announced a statement Thursday on its website, saying: “We are joining other retailers in asking our customers to no longer openly carry firearms into our stores other than authorized law enforcement officials.” On Tuesday, Walmart said it will request that customers no longer …

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FTC Fines Google $170M For Collecting Data On Kids

CNBC reports: Google’s YouTube will pay $170 million to settle allegations by the Federal Trade Commission and the New York attorney general that it earned millions by illegally collecting personal information from children without their parents’ consent. The settlement, announced Wednesday, was passed in a 3-2 vote by the commissioners along party lines. The two Democrats voted against it, saying …

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Kroger Mirrors Walmart Move: No More Open Carry

Reuters reports: U.S. grocer Kroger has begun asking customers to stop openly carrying firearms in stores, a change in policy, a spokeswoman said on Tuesday. Kroger previously had followed local and state laws on the matter, she said. “Kroger is respectfully asking that customers no longer openly carry firearms into our stores, other than authorized law enforcement officers,” Jessica Adelman, …

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