Tribune News Service
Business Budget for Monday, June 10, 2019
Updated at 9 p.m. EDT (0100 UTC)
Adds CPT-UBER-UNMANNED-AIRCRAFT:FT, AUTO-FCA-SELFDRIVING:DE
This budget is now available at TribuneNewsService.com, with direct links to stories and art. See details at the end of the budget.
^In Trump's trade war with China, L.A. ports are ground zero<
^USCHINA-TRADE-PORTS:LA—<Perhaps nowhere in the United States is the tariff war with China having a more tangible effect than at the twin ports of Los Angeles and Long Beach, the nation's leading gateway for trans-Pacific trade. The complex handles 47.5% of U.S. containerized trade with China — including toys, bicycles, furniture, electronics, sneakers, scrap paper, cotton, soybeans and auto parts.
The tariffs have thrown a giant wrench into Southern California logistics industries, rippling through a broad web of companies that handle shipping, trucking, railroads, warehousing, construction, manufacturing and farming. Nearly a million jobs in the five-county region are tied to international trade.
1550 by Margot Roosevelt and Samantha Masunaga. MOVED
^Even with deal, Trump's tough tariff talk could be reshaping the views of auto suppliers along border<
AUTO-USMEXICO-TRADE:DA — For more than 30 years working on both sides of the border, Alexander Sierra has valued a sense of routine. He's in the automotive industry, the crown jewel of U.S.-Mexico trade, where cross-border supply chains operate with precision.
But uncertainty looms for suppliers here even after President Donald Trump tweeted that he had reached a deal with Mexico. The newest agreement hardly assuaged Sierra's concerns. Even before the deal was announced Friday, Sierra said, the damage had been done. He and other auto industry suppliers were already trying to figure out how to coexist with a president who calls himself the "tariff man" and is willing to use the strategy as a diplomatic whip even if it stings U.S. manufacturers and consumers.
1600 by Alfredo Corchado and Kara Carlson in Santa Teresa, N.M. MOVED
^OTHER BUSINESS NEWS<
^'Would be catastrophic': Fighting wildfires, pilots fear close encounters with drones<
^PILOTS-DRONES:RA—<Pilot Robert Delleo has been flying for the N.C. Forest Service for 10 years and says it's not unheard-of to hit a bird as you're skimming just above the treetops over a wildfire.
What he really worries about, though, is the possibility of hitting a drone, which fly at that same altitude and are just as impossible to see when you're moving at more than 200 mph.
"Birds are flesh and bone. They have a tendency to give, though they do damage to airplanes," says Delleo, who directs the Forest Service's aviation division. "But if we were to run into a drone, which are not flesh and bone, it would be catastrophic."
700 by Richard Stradling. MOVED
^Comcast leaves conservative 'think tank' behind voter ID, stand-your-ground laws<
COMCAST-ALEC:PH — Comcast Corp. has pulled out of the conservative American Legislative Exchange Council that critics say is a "corporate bill mill" for state lawmakers by drafting model legislation, such as those for stand-your-ground and voter-ID laws.
ALEC also opposes "net neutrality," which aligns politically with Comcast in state capitals.
500 by Bob Fernandez in Philadelphia. MOVED
^Raytheon and United Technologies are merging, with a focus on R&D<
^UNITED-TECHNOLOGIES-RAYTHEON-1ST-LEDE:LA—<As the U.S. military looks to buy more cutting-edge technology, bulked-up research and development capabilities could give defense companies a better chance at landing lucrative Pentagon contracts. Size doesn't hurt either.
With this in mind, aerospace firms Raytheon Co. and United Technologies Corp. on Sunday joined the ever-growing horde of defense firms that are undertaking mergers or acquisitions.
The all-stock deal, billed as a merger of equals, would create a new company known as Raytheon Technologies Corp., which would have about $74 billion in annual sales. In a joint news release, the two firms touted the new company's "expanded technology and R&D capabilities."
900 by Samantha Masunaga. MOVED
Also moving as:
1300 by Stephen Singer. MOVED
^Burger King's meat-free Impossible Whopper goes on sale today<
^IMPOSSIBLE-BURGER:SJ—<Burger King's nationwide roll-out of the meatless Impossible Whopper will expand to the Bay Area today, Monday, June 10.
Representatives of both the fast-food giant and the plant-based start-up announced that sales would begin at 111 restaurants in this region after successful trial runs elsewhere.
200 by Linda Zavoral. MOVED
^U.S. Supreme Court to hear racial case involving Comcast and Hollywood mogul Byron Allen<
^COMCAST-BYRON-ALLEN:PH—<The nation's highest court will hear Hollywood mogul Byron Allen's racial discrimination case against Comcast Corp.
Allen, the comedian who runs a Hollywood empire under the name Entertainment Studios Inc., has claimed in federal lawsuits that Comcast and Charter Communications Inc. have racially discriminated against him by refusing to distribute his cable-TV channels to tens of millions of American homes because it's owned 100% by him, an African-American.
Allen seeks $20 billion under a Reconstruction-era civil rights law that says companies can't discriminate based on race in business contracts.
550 by Bob Fernandez. MOVED
^Salesforce's acquisition of Tableau Software signals new push into big data analytics<
^SALESFORCE-TABLEAU:SJ—<Salesforce threw down the gauntlet regarding its intentions to expand into the data-analytics market, saying Monday that it would acquire big data company Tableau Software for $15.7 billion in stock.
The acquisition is the largest in Salesforce's history, and it is meant to strengthen its ability to provide greater insight into their customers needs and habits. Big data is a term used by companies to refer to processes they use to find patterns, correlations, market trends and other information about their customers.
300 by Rex Crum. MOVED
^Kaiser Permanente mental health workers call off threatened strike<
^KAISER-PERMANENTE:LA—<Citing progress in contract talks, about 4,000 mental health workers at Kaiser Permanente called off a strike they had threatened to begin Tuesday at the healthcare giant's California facilities.
The National Union of Healthcare Workers said it shelved the walkout, which was scheduled to last until a new contract was reached, after making "progress at the bargaining table in recent weeks."
The employees — including clinical social workers, therapists, psychologists, nurses and others — have been working without a contract since September.
300 by James F. Peltz. MOVED
^Target boosts benefits to store workers, including paid family leave<
^WRK-TARGET-BENEFITS:MS—<Target Corp. said Monday it would beef up benefits it offers its full- and part-time hourly workers, including paid family leave to care for a child or aging parent and backup child care.
The move comes as retailers try to attract workers in a tightening labor market, and as their business model changes to respond to an increase in digital shopping.
350 by Jackie Crosby. MOVED
^Jerry Jones just made a $2.2 billion deal for a Dallas energy company<
^COMSTOCK-RESOURCES:DA—<Dallas Cowboys owner Jerry Jones' oil and gas company, Comstock Resources, is making a $2.2 billion acquisition that will make it the leading producer in one of the nation's largest natural gas basins.
The cash-and-stock deal for Covey Park Energy is expected to advance Frisco-based Comstock's position in the Haynesville Shale in East Texas and northwest Louisiana. The Haynesville region is the third-largest natural gas producer in the U.S., according to the U.S. Energy Information Administration.
550 by Orla McCaffrey. MOVED
^Uber will test unmanned aircraft at Fort Worth Alliance Airport's new technology zone<
^CPT-UBER-UNMANNED-AIRCRAFT:FT—<Uber and other companies have a new place to test their driverless — and pilotless — technology in Fort Worth.
The well-known ride-sharing company — which aims to develop an Uber Elevate air taxi system at DFW Airport and Frisco by 2023 — is among the key players in a new mobility innovation zone at Fort Worth's Alliance Airport.
500 by Gordon Dickson. MOVED
^FCA gets self-driving partner with Amazon backing<
^AUTO-FCA-SELFDRIVING:DE—<Fiat Chrysler Automobiles' new partner for developing self-driving vehicles is backed by Amazon.
That partner, Aurora Innovation, is led by some of the leaders in the space, people who led self-driving development efforts at Google, Tesla and Uber.
450 by Eric D. Lawrence. MOVED
^DAILY MARKETS GRAPHIC <
Find here a daily Wall Street roundup graphic featuring Dow Jones Industrial Average, S&P 500 and Nasdaq data.
The 1-column x 4-inch graphic, Wall Street, will be posted by 6:30 p.m. EDT Monday through Friday.
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These features regularly move on Monday:
^Amanda Dixon: Survey: Nearly 1 in 3 side hustlers needs the income to stay afloat<
^REAL-BANKRATE:MCT—<One big takeaway from the government shutdown that ended months ago: Many Americans are still living paycheck to paycheck.
Despite a healthy economy and a strong labor market, 3 in 10 working Americans with a side hustle say they need the extra income to help cover the cost of regular living expenses. That's one of the key findings from Bankrate's latest Side Hustle Survey of 2,550 adults. Wages have started to tick up, but they're no match for the rising cost of living.
950 by Amanda Dixon. MOVED
^Susan Tompor: Exiting a timeshare could be another route to a rip-off, Better Business Bureau says<
^PFP-TOMPOR-COLUMN:DE—<Getting smooth-talked into buying a timeshare after a free weekend stay at a resort condo is one thing. But consumers increasingly are being ripped off when they try to unload or get out of a vacation-related contract, as well.
The problem often starts when the annual maintenance fees inevitably skyrocket for timeshare owners. Many retirees who already are living on a fixed income say they cannot afford to dish out $800 to $1,500 a year for a timeshare that frankly they hardly ever use.
850 by Susan Tompor. MOVED
^PFP-JOURNEY:MCT—<By Janet Kidd Stewart.
Not moving this week.
^KIDS AND MONEY<
^Kids and Money: Trip to grocery store great learning opportunity<
^PFP-KIDSANDMONEY:MCT—<Most kids get their first look at shopping and spending money from the comfort of a grocery store shopping cart, but I'm fretting that those days may be numbered.
Cruising the aisles is becoming rarer as busy parents take greater advantage of food delivery services that promise convenience and zero temper tantrums from fussy, tired 3-year-olds.
600 by Steve Rosen. MOVED
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