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Drowning in a sea of lawsuits and recall costs, Japanese air bag maker Takata Corp. is expected to seek bankruptcy protection in Tokyo and the United States early Monday. Takata was done in by defective air bag inflators that can explode with too much force, spewing out shrapnel. They’re... Read more
Fed raises key rate and unveils plan to reduce bond holdings
The Federal Reserve has raised its benchmark interest rate for the third time in six months, providing its latest vote of confidence in a slow-growing but durable economy. The Fed also announced plans to start gradually paring its bond holdings later this year, which could cause long-term rates to... Read more
A company that owns buildings with Donald Trump and the family of Jared Kushner is a finalist for a $1.7 billion contract to build the FBI’s new headquarters. Vornado Realty Trust is one of three finalists to build a replacement for the bureau’s current headquarters on Pennsylvania Avenue in... Read more
6 summer scams and how to avoid them
As the weather gets warmer, mosquitoes and ticks re-enter our lives, and along with them comes their larger cousin, the scam artist. There are ways to prepare for those seasonal meal stealers. The same goes for scams, as foreknowledge is the best repellent. Ticks and mosquitoes aren’t harmless —... Read more
A big Blue Cross-Blue Shield insurer is returning to the Affordable Care Act’s health insurance exchanges next year in several states, including markets like Texas and Illinois. Health Care Service Corp. says it also intends to sell coverage in Oklahoma, where it is the only insurer on the exchange,... Read more
Fewer Americans applied for unemployment benefits last week as most U.S. workers continue to enjoy job security. The Labor Department says claims for jobless aid fell by 10,000 to a seasonally adjusted 245,000 last week. The less-volatile, four-week average rose by 2,250 to 242,000. Unemployment claims are a proxy... Read more
Uber dismisses over 20 employees after law firm’s probe
Uber has fired more than 20 employees after a law firm investigated complaints of sexual harassment, bullying, discrimination and other violations of company policies. The recent firings included both managers and lower-level workers, some of whom retaliated against employees after they complained about bad conduct at the ride-hailing firm,... Read more
Asian stocks mixed after London attack, oil up on Qatar rift
Asian stock markets were mixed on Monday following the London attack over the weekend and a private survey showing improvement in China’s service sector. Stocks moved within a narrow range ahead of the week packed with political events and economic data from the United Kingdom’s elections to China’s export... Read more
Asian stocks mixed after London attack, oil up on Qatar rift
Asian stock markets were mixed on Monday following the London attack over the weekend and a private survey showing improvement in China’s service sector. Stocks moved within a narrow range ahead of the week packed with political events and economic data from the United Kingdom’s elections to China’s export... Read more
Quitting Paris likely to have muted effect in key industries
President Donald Trump’s decision to withdraw the United States from the Paris climate accord may have only limited immediate impact on many U.S. companies, according to analysts. In part that is because the Paris agreement only went into effect last year, it’s voluntary, and doesn’t carry penalties for countries... Read more