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Power, politics and a $2.8 billion exit: How Paramount topped Netflix to win Warner Bros.

Business / Business News /

LOS ANGELES — The morning after Netflix clinched its deal to buy Warner Bros., Paramount Skydance Chairman David Ellison assembled a war room of trusted advisers, including his billionaire father, Larry Ellison.

Furious at Warner Bros. Discovery Chief David Zaslav for ending the auction, the Ellisons and their team began plotting their ...Read more

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Target will stop selling cereals with certified artificial colors by May

Business / Business News /

Target will stop selling cereals containing certified synthetic colors by the end of May, a move that reflects growing consumer demand for cleaner ingredients and broader industry trends away from artificial additives.

The Minneapolis-based retailer said Friday that 85% of the cereals it sells are already free of synthetic dyes. The full shift ...Read more

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With airlines in flight-adding frenzy, FAA says flight reductions are needed at O'Hare

Business / Business News /

The Federal Aviation Administration says flight reductions are necessary at O’Hare International Airport this summer, citing planned increases in flights that “will exceed the airport’s capacity.”

The plan to reduce flights comes in the midst of an arms race between the airport’s two largest airlines, United and American, which have ...Read more

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Larry Printz: A small town, a big factory and the SUV that changed one automaker's fortunes

Business / Business News /

Few travelers discover West Point, Georgia, by leafing through a glossy brochure waiting in a hotel lobby. It sits quietly along the slow-moving Chattahoochee River, some 80 miles southwest of Atlanta, a town that has been minding its own business since 1831.

Nevertheless, history brushed past here with some force. The Battle of West Point, one...Read more

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Michael Hiltzik: Why foreign markets outperformed US stocks during Trump's first year

Business / Business News /

If you're a stock market investor, you might be feeling pretty good about how your portfolio of U.S. equities fared in the first year of President Trump's term.

All the major market indices seemed to be firing on all cylinders, with the Standard & Poor's 500 index gaining 17.9% through the full year.

But if you're the type of investor who ...Read more

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Auto review: 2026 Nissan goes all out with Armada Platinum Reserve

Business / Business News /

When it comes to big SUVs, the market is flooded with options, from the Chevrolet Tahoe to Ford Expedition and even the Toyota Sequoia.

Plus, who could forget the Lexus LX, GMC Yukon, Cadillac Escalade and Jeep Wagoneer?

Within this flooded category, manufacturers offer a lot, including size, space, storage and comfort.

In Grasso’s Garage ...Read more

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Block to cut more than 4,000 jobs amid AI disruption of the workplace

Business / Business News /

Fintech company Block said Thursday that it's cutting more than 4,000 workers or nearly half of its workforce as artificial intelligence disrupts the way people work.

The Oakland parent company of payment services Square and Cash App saw its stock surge by more than 23% in after-hours trading after making the layoff announcement.

Jack Dorsey, ...Read more

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Spam's global reach helps Hormel overcome price-shocked US shoppers

Business / Business News /

Food companies continue to struggle at the grocery store, where U.S. consumers are balking at high prices amid inflation.

Hormel Foods has a workaround, though: Spam.

Popularity of the iconic canned meat overseas is helping to lift Hormel’s international profit, which is driving growth for the company in an otherwise middling first quarter. ...Read more

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Obama Foundation readies for uncertainty of development near presidential center

Business / Business News /

CHICAGO — When he chose Jackson Park for the location of his landmark presidential center nearly a decade ago, former President Barack Obama said he wanted the development to become the engine for a South Side economic resurgence, spurring new residents to move to the area, more businesses to open, additional fixes to infrastructure and better...Read more

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Auto review: Turbo Alfa Tonale proves less is more with Italian flair

Business / Business News /

Unburdened of its mission as the standard-bearer of an electric Alfa Romeo brand, the subcompact Tonale SUV can finally live la dolce vita.

For 2026, Alfa’s tasty, turbocharged, gas-fired appetizer is lighter, cheaper, more fun. Less is more.

Gone is Alfa’s dream to be an Italian Tesla. Gone, too, is Tonale’s plug-in hybrid drivetrain ...Read more

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How Florida property insurers keep secrets from policy holders -- with the state's help

Business / Business News /

Florida property insurers are keeping secrets.

Empowered by industry-friendly state statutes and court rulings, they’re blocking access to information about how their firms set premiums, handle claims, and shift profits out of the reach of regulators. They insist it wouldn’t be fair for their competitors to learn these critical “trade ...Read more

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Dealers face prospect of Chinese autos: 'Eventually you'll get them'

Business / Business News /

U.S. auto dealers are increasingly wary of a possible industry shakeup ahead: Chinese vehicles entering the American market.

They have seen the signs. Chinese automakers showed off their electric vehicles at a January tech gathering in Las Vegas, with one company saying it planned to announce a U.S. production expansion within a couple of years...Read more

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State Farm to issue $5 billion in auto insurance dividends -- or about $100 per car

Business / Business News /

Home insurance rates may be going through the roof, but State Farm has some good news for its auto insurance customers.

State Farm will issue $5 billion in auto insurance dividends to its customers this summer, with a one-time payment of about $100 per vehicle, the Bloomington-based insurance giant announced Thursday.

The largest dividend in...Read more

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New round of WGN-TV layoffs includes producer whose rough ICE detention went viral

Business / Business News /

CHICAGO — A second round of layoffs hit WGN-Ch. 9 this week, with three creative services employees getting the axe Wednesday, including Debbie Brockman, the producer whose aggressive detainment by immigration agents in October became a symbol of urban enforcement clashes.

Brockman, a 15-year employee at WGN, rose to national fame after a ...Read more

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Netflix bows out of Warner Bros. auction, Paramount to claim the prize

Business / Business News /

WASHINGTON — Netflix bowed out of the Warner Bros. Discovery sweepstakes Thursday, conceding the prize to Paramount Skydance, a dramatic capstone to one of Hollywood’s biggest auctions in years.

The reversal came after Warner Bros. Discovery switched gears, announcing that Paramount‘s revised bid had topped the one on the table from ...Read more

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Wynn hit with more class-action lawsuits after data breach

Business / Business News /

Two more class-action lawsuits have been filed in U.S. District Court in Nevada against Wynn Resorts Ltd. in connection with a cyberattack data breach Friday alleging the casino company didn’t do enough to protect customers’ private information.

The Las Vegas-based luxury resort company on Tuesday acknowledged the attack, but a spokesman ...Read more

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Pennsylvania spent $397 million in overtime last year. Here's why government workers are logging such long hours

Business / Business News /

Pennsylvania pays out hundreds of millions in overtime pay to its employees annually. For some agencies, overtime work is in the nature of the jobs, which involve responding to emergencies. But understaffing sometimes plays a role as well.

Last year, Pennsylvania paid $397 million in overtime to roughly 56,000 employees, according to state data...Read more

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Warner Bros. Discovery shifts gears, says it now favors Paramount deal over Netflix

Business / Business News /

WASHINGTON — Warner Bros. Discovery is switching gears, announcing Thursday that Paramount Skydance’s revised bid tops the one on the table from Netflix.

The move is the latest twist in Hollywood’s biggest auction in years — and five months after Paramount Chairman David Ellison began his dogged pursuit of the larger media company. ...Read more

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Amid the multibillion-dollar battle for Warner Bros., the company loses $252 million

Business / Business News /

As Paramount Skydance's bid for Warner Bros. Discovery stretches into the stratosphere, a painful truth emerged.

Paramount's core television business, which includes CBS, Comedy Central and MTV, is rapidly shrinking and its Melrose Avenue movie studio lost money. Paramount this week reported a $339-million operating loss in last year's fourth ...Read more

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Stellantis weighs using China EV tech for affordable cars

Business / Business News /

Stellantis NV is considering tapping electric-vehicle technology from its Chinese partner Leapmotor to help lower costs across its mass-market European brands such as Fiat, Opel and Peugeot, according to people familiar with the plans.

The manufacturer is weighing an expansion of the scope of its joint venture with Leapmotor to access the ...Read more