Money & Markets

Ford cuts 7K white-collar jobs

DETROIT — Ford revealed details of its long-awaited restructuring plan Monday as it prepared for a future of electric and autonomous vehicles by parting ways with 7,000 white-collar workers worldwide, about 10% of its global salaried workforce. The major revamp, which had been under way ...

China’s technology tactics irk its trading partners

BEIJING — For four decades, Beijing has cajoled or pressured foreign companies to hand over technology. And its trading partners say if that didn’t work, China stole what it wanted. Communist leaders deflected demands for change until foreign frustration erupted into a showdown with ...

Trump lifts tariffs on Mexico, Canada, delays auto tariffs

WASHINGTON — Bogged down in a sprawling trade dispute with U.S. rival China, President Donald Trump took steps Friday to ease tensions with America’s allies — lifting import taxes on Canadian and Mexican steel and aluminum and delaying auto tariffs that would have hurt Japan and ...

San Francisco area homeless count increases by double digits

SAN FRANCISCO — A federal count shows the number of homeless people increased by double-digit percentages in three San Francisco Bay Area counties over two years as the region struggled to tackle the growing problem, including 17% in San Francisco and 43% in the county that includes ...

Judge orders FDA to speed up review of e-cigarettes

WASHINGTON — A federal judge is siding with public health groups suing the Food and Drug Administration to begin reviewing thousands of e-cigarettes on the U.S. market. The ruling handed down Wednesday in district court states that the agency shirked its legal duty when it postponed ...

Disney takes over Hulu from Comcast

NEW YORK — Disney is taking full control of Hulu from Comcast, as both companies prepare to launch their own streaming services in response to declining audiences for traditional TV. The companies said Tuesday that Comcast, which owns a third of Hulu, can sell its stake to Disney starting ...

China retaliates on tariffs, stock markets go into a slide

BEIJING — Sending Wall Street into a slide, China announced higher tariffs Monday on $60 billion worth of American goods in retaliation for President Donald Trump’s latest penalties on Chinese products. Duties of 5% to 25% will take effect on June 1 on about 5,200 American products, ...

Top WH adviser Kudlow admits US consumers pay tariffs

WASHINGTON — The White House’s top economic adviser acknowledged Sunday that U.S. consumers and businesses pay the tariffs that the Trump administration has imposed on billions of dollars of Chinese goods, even as President Trump himself insisted in a tweet, incorrectly, that China ...

US-China talks break up after US raises tariffs

WASHINGTON — Trade talks between the U.S. and China broke up Friday with no agreement, hours after President Donald Trump more than doubled tariffs on $200 billion in Chinese imports. Trump asserted on Twitter that there was “no need to rush” to get a deal between the world’s two ...

Uber shifts into lower gear, prices IPO at $45

SAN FRANCISCO — Uber is about to embark on a wild ride on Wall Street with the biggest and most hotly debated IPO in years. The world’s leading ride-hailing service set the stage for its long-awaited arrival on the stock market by pricing its initial public offering at $45 per share late ...

TV pitches for prescription drugs will have to include price

WASHINGTON — TV pitches for prescription drugs will soon include the price, giving consumers more information upfront as they make medication choices at a time when new drugs can carry anxiety-inducing prices. Health and Human Services Secretary Alex Azar said Wednesday the Trump ...

San Francisco bans credit-only stores

SAN FRANCISCO — San Francisco officials voted Tuesday to require brick-and-mortar retailers to take cash as payment, joining Philadelphia and New Jersey in banning a growing paperless practice that critics say discriminates against low-income people who may not have access to credit ...

Google’s AI Assistant aims to transcend the smart speaker

SAN FRANCISCO — When Google launched its now distinctive digital assistant in 2016, it was already in danger of being an also-ran. At the time, Amazon had been selling its Echo smart speaker, powered by its Alexa voice assistant, for more than a year . Apple’s Siri was already five years ...

Trump threatens to hike tariffs on $200B of Chinese imports

WASHINGTON — President Donald Trump raised pressure on China on Sunday, threatening to hike tariffs on $200 billion worth of Chinese goods in a tweet that sent financial markets swooning. Trump’s comments, delivered on Twitter, came as a Chinese delegation was scheduled to resume talks in ...

Hiring surge lifts economy – and Trump’s re-election chances

NEW YORK — The lowest unemployment rate in a half century. More than 260,000 new jobs. And higher hourly wages. “I’ll be running on the economy,” President Donald Trump declared on Friday. And why wouldn’t he? The day’s new round of sunny employment figures offered fresh ...

Car-sharing apps’ rising US popularity fuels tax debate

PHOENIX — When Chris Williamson was in the market for a new family car, a timely ad and conversations with a co-worker convinced him to try something out of the ordinary. He bought a BMW 3 Series convertible and covers the payments by renting it to strangers on a peer-to-peer car sharing app ...

California inches toward 40M people, but growth rate slows

SACRAMENTO, Calif. — California had its slowest recorded growth rate in its history last year as the country’s most populous state was hit by a slowdown in immigration and a sharp decline of births. Estimates released Wednesday show California had 39.9 million people as of Jan. 1, adding ...

Dreams of ubiquitous social robots still aren’t coming true

Hopes that the tech industry was on the cusp of rolling personal robots into homes are dimming now that several once-promising consumer robotics companies have shut down. The latest casualty was San Francisco startup Anki, maker of the playful toy robot Cozmo, which upon its release in 2016 ...

Marriott plans to expand further into home-sharing

Marriott is pushing more heavily into home-sharing, confident that its combination of luxury properties and loyalty points can lure travelers away from rivals like Airbnb. The world’s biggest hotel company will start taking reservations this week for 2,000 homes in 100 markets in the U.S., ...

Trump tells NRA he’s withdrawing from arms trade treaty

INDIANAPOLIS — In a largely symbolic gesture to a group that helped him win the White House, President Donald Trump said Friday he is pulling the U.S. back from an international agreement on the arms trade, telling the National Rifle Association the treaty is “badly misguided.” Trump ...