Money & Markets

Kohler Co. workers reject contract, favor strike

SHEBOYGAN, Wis. - Union workers at Kohler Co. rejected the company's latest contract offer Sunday and overwhelmingly approved a strike. United Auto Workers Local 833 said paper balloting showed 94 percent of workers favor a strike, which would be the company's first since 1983, the Milwaukee ...

Pat Fallon, co-founder of Minneapolis ad agency, dies at 70

MINNEAPOLIS - Minneapolis ad man Pat Fallon, whose upstart firm once led campaigns for luxury automakers BMW and Porsche, has died at age 70, his company said.Fallon, a member of the Advertising Hall of Fame, died Friday with his family at his side, according to the Fallon agency he ...

No big changes set for Waterloo Industries

WATERLOO - A Waterloo company that makes storage cabinets for tools and garages doesn't expect big changes after a private equity firm bought the company. AFI Partners bought Waterloo Industries in September. The company had been owned by Fortune Brands for roughly 20 years. One of the products ...

Turkey ends missile deal talks with China

ANKARA, Turkey - Turkey's state-run news agency says Turkey has ended negotiations with China on building a missile defense system.The Anadolu Agency, citing unnamed officials, said Sunday that Prime Minister Ahmet Davutoglu decided to abandon the missile tender over the possibility that Turkey ...

US retail sales crawl upward in Oct., led by online shopping

WASHINGTON - Americans ramped up their online shopping and restaurant spending in October, but barely-there inflation kept overall retail sales growth muted.The Commerce Department said Friday that retail sales rose a seasonally adjusted 0.1 percent last month, after being unchanged in ...

JC Penney reports loss, sales growth

PLANO, Texas - J.C. Penny reported stronger-than-expected sales for the third-quarter, but the department store operator's failure to raise its forecast for the year appeared to add to worries that upcoming holiday shopping season could turn out to be a dud for retailers.The company's results ...

China’s currency gets key backing from IMF

WASHINGTON - The head of the International Monetary Fund says she supports adding China to an exclusive club of the world's top currencies. Christine Lagarde said Friday that she supports findings by staff at the IMF that China's currency, the yuan, meets the criteria for inclusion in the ...

From Australia to Zambia, slowing China economy causes pain

China's economic troubles have dropped on the doorstep of a sun-weathered house at 18 Edgar St. in Port Hedland on Australia's northwest coast.Four years ago, the 50-year-old home, fabricated from cheap asbestos cement, sold for the equivalent of $1.3 million. It's now for sale again - recently ...

Rite Aid adds prescription analysis to genetic test lineup

Rite Aid is giving patients a chance to peek over their doctor's shoulder with genetic tests that help determine the effectiveness of some prescriptions. The drugstore chain said Thursday that it is selling Harmonyx testing kits at nearly all of its stores. The kits cost between $49 and $89 ...

VW offers amnesty for information on cheating

FRANKFURT, Germany - Volkswagen is telling non-managerial employees they can come forward with information about how the company cheated on U.S. emissions tests and they won't be fired.In a move aimed at getting to the bottom of the scandal more quickly, Volkswagen brand manager Herbert Diess ...

Ford plans $900M investment in Chicago

CHICAGO - Ford Motor Co. would invest $900 million in its assembly plant on Chicago's South Side and create about 200 new jobs under a tentative labor agreement between the automaker and United Auto Workers. The automaker would employ 4,600 workers at the Chicago Assembly Plant to support ...

GM, government actions questioned in car fire recalls

DETROIT - Shortly after Elizabeth Berry parked her bright yellow 2003 Chevrolet Monte Carlo SS on the street in front of her family's home in May 2014, flames engulfed the engine, destroying the car and scorching her mailbox."I was hysterical. That was like my third baby," she says of the ...

Macy’s 3Q, a glimpse of what’s to come this holiday season?

CINCINNATI - With a hint at what may be in store for shoppers this holiday season, Macy's CEO Terry Lundgren said markdowns are likely as falling sales have left the department store with excessive inventory.The opening of the retail earnings seasons began ominously with Macy's, which dragged ...

Merger will not bring Bud, Miller under same roof

LONDON - The world's two biggest beer makers will join forces to create a company that produces almost a third of the world's beer. But in the U.S., the deal will not bring arch rivals Budweiser and Miller under the same roof.Budweiser maker AB InBev announced Wednesday a final agreement to buy ...

Blue diamond sells for record $48.5M at auction

GENEVA - An exceptionally large blue diamond sold Wednesday for 48.6 million Swiss francs ($48.5 million) - a new record price for any jewel at auction, Sotheby's said, culminating two Geneva auctions in which a private Hong Kong collector on both times bought a rare colored diamond to honor ...

UAW leaders approve tentative agreement with Ford

DETROIT - The United Auto Workers' proposed contract with Ford Motor Co. - approved Monday by local union leaders - is the richest of the Detroit Three, with a promise of $10,250 in bonuses for most workers this year alone. The union released details of the agreement Monday. Workers must now ...

VW diesel owners to get $1,000 in gift cards, vouchers

DETROIT - Owners of 482,000 diesel Volkswagens and Audis in the U.S. are eligible for $1,000 in gift cards and vouchers as the automaker strives to placate customers dismayed by an emissions-rigging scandal.VW announced the offer Monday. The car owners have been in limbo since mid-September, ...

Match Group plans to raise $466.2M from IPO

NEW YORK - The owner of Tinder, Match.com and OkCupid hopes to raise as much as $466.2 million in an initial public offering, which would put the value of the dating site company in the neighborhood of $3 billion.Match Group Inc. disclosed in a regulatory filing Monday that it will price its ...

DuPont names Breen as chairman and CEO

NEW YORK - DuPont's board of directors named Edward D. Breen as chairman and CEO after a month of holding those positions in an interim capacity.Breen was named as an interim leader last month after the sudden retirement of Ellen Kullman, 59, after she had fought off a bruising challenge from ...

Banks, at odds with personal finance sites, disrupt service

NEW YORK - The uneasy relationship between banks and companies that use their data to provide personal finance services has shown signs of fraying in recent months, causing some frustrating disruptions in service to people trying to track their spending.Who knew keeping tabs on your monthly ...