Postal Service’s squeeze on shipping consolidators could raise consumer costs
The U.S. Postal Service said Wednesday that it is ending discounts that shipping consolidators such as UPS and DHL use to get packages to the nation’s doorsteps.
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Stellantis to spend $406M at 3 factories in step toward meeting UAW commitments
Jeep and Ram maker Stellantis will retool three Michigan factories so they can build electric vehicles or battery parts to support a strategy of making vehicles powered by both gasoline and batteries.
Kyle Larson to attempt ‘Double’ again in 2025, but 600 will take priority over 500
Larson in May became the fifth driver in history to attempt to complete both the Indy 500 and Coca-Cola 600, but weather issues thwarted the effort.
Denard Robinson, Braylon Edwards among former Michigan players suing NCAA, Big Ten Network
The federal class-action antitrust lawsuit claims the athletes lost out on more than $50 million during their college careers because of the association’s now-lifted ban on athletes being compensated for name, image and likeness.
Labor costs remain high for small businesses, but report shows wage growth slowing for some
The Paychex Small Business Employment Watch found hourly earnings growth for workers at firms with 50 employees or less dropped below 3% for the first time since January 2021.
Americans lost $5.6B last year in cryptocurrency fraud scams, FBI says
The FBI received nearly 70,000 complaints in 2023 by victims of financial fraud involving bitcoin, ether and other cryptocurrencies.
Big Lots files for bankruptcy protection, plans to sell assets to Nexus Capital
Big Lots said it does plan to close some stores, but didn’t specify how many or what locations would be affected. At the end of 2023, Big Lots operated nearly 1,400 stores in 48 states.
Bankrupt LL Flooring finds buyer, plans to keep 200-plus stores open
The flooring retailer formerly known as Lumber Liquidators signed an agreement with private equity firm F9 Investments and now plans to keep some of its stores open instead of completely ending operations.
Google faces new antitrust trial after ruling declaring search engine a monopoly
The Justice Department, joined by a coalition of states, and Google each made opening statements Monday to a federal judge who will decide whether Google holds a monopoly over online advertising technology.
Apple’s new iPhone catapults tech trendsetter into age of AI
The iPhone 16 is generating a bigger buzz because it is the first model to be tailored specifically for AI, a technology that is expected to trigger the biggest revolution in the industry since Steve Jobs thrust Apple into the smartphone market 17 years ago.
Retailer formerly known as Lumber Liquidators closing all stores
LL Flooring is “winding down operations” after declaring bankruptcy and plans to close all stores, including three stores in central Indiana.
Sluggish jobs report clears the way for Federal Reserve to cut interest rates
Collectively, Friday’s figures depict a job market slowing under the pressure of high interest rates but still growing.
Teen vaping hits 10-year low in United States
FDA officials noted that the drop in vaping didn’t coincide with a rise in other tobacco industry products, such as nicotine pouches, which have surged in use among adults.
Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
A U.S. bankruptcy judge on Thursday approved the casual seafood chain’s reorganization plan, which includes a lender group led by asset manager Fortress acquiring the business.
Government orders big U.S. airlines to explain their frequent-flyer programs
Transportation Secretary Pete Buttigieg wrote to the CEOs of American, Delta, Southwest and United on Thursday, asking each for a report on policies, fees and other features of their loyalty program.
Judge questions restrictions on booster payments to athletes in $2.78B NCAA settlement
U.S. District Judge Claudia Wilken did not rule on the request to grant preliminary approval of the deal. She told the NCAA and plaintiffs to “go back to the drawing board” to address issues she raised and report back to her in three weeks with solutions.
Verizon buying Frontier in $20B deal to strengthen fiber network
Verizon Communications Inc. said Thursday that the acquisition will also shore up its foray into artificial intelligence as well as connected smart devices.
Nearly 2,000 drug plants overdue for FDA checks after COVID delays, analysis finds
Last year’s inspection numbers were down almost 40% from the pre-pandemic period, when the FDA averaged about 4,300 annual inspections.
CEOs of Albertsons, Kroger say shoppers would see lower prices after merger
The Federal Trade Commission contends the $24.6 billion deal would eliminate competition and lead to higher food prices for already struggling customers.
Larson, Hendrick Motorsports in discussion on 2025 return to Indianapolis 500
Kyle Larson wants to run the “Double” again in 2023 after weather issues ruined his chances this year, but details are still being worked out.