Business & Education

Business & education news

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The new lawyer on President Trump's legal team is already making news by contradicting previous statements by his client.

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The two black men arrested at a Philadelphia Starbucks last month have reached a settlement with the coffee chain and the city.

Updated at 12:29 p.m. ET Thursday

A judge in New York has ruled that residents of Trump Place, a condominium building on Manhattan's West Side, have the right to remove President Trump's name from the building if enough of them approve of it.

The ruling by New York Supreme Court Judge Eileen Bransten marks a defeat for the Trump Organization, which had argued that removing the name would violate the building's licensing agreement.

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Facebook CEO Mark Zuckerberg wants to play Cupid.

(SOUNDBITE OF ARCHIVED RECORDING)

MARK ZUCKERBERG: It's going to be for building real long-term relationships - all right? - not just hookups.

(LAUGHTER)

Aging Up

May 2, 2018

There's this perception that successful entrepreneurs are invariably youthful, full of ideas and energy, and unburdened by responsibilities that come with middle age. Pair that with the idea that as we get older we decline cognitively, and it makes sense that we think of entrepreneurship as a young person's deal, right?

Ben Jones at the Kellogg School of Management doesn't agree.

Updated at 6:16 p.m. ET

Cambridge Analytica, the firm that used data from millions of Facebook users without their knowledge, said Wednesday that it is "immediately ceasing all operations." The firm worked for President Trump's 2016 campaign.

Before Hurricane Maria hit last September, Puerto Rico was battered by the forces of another storm — a financial storm.

The island's own government borrowed billions of dollars to pay its bills, a practice that Puerto Rico's current governor, Ricardo Rosselló, now calls "a big Ponzi scheme."

The Food and Drug Administration and Federal Trade Commission on Tuesday sent warning letters to 13 manufacturers, distributors and retailers of e-cigarette liquids. In a phone briefing for reporters, FDA Commissioner Scott Gottlieb said the companies are endangering kids by marketing the products to resemble juice boxes, cookies or candy.

"You look at the lollipop for example. I don't see how my 4- or 5-year-old doesn't just look at that and see a lollipop. It's a lollipop," he said.

Lynn Smith was picking out frozen vegetables in a Los Angeles grocery store when she was asked if she bought much of her food in that aisle.

"No I don't, as a matter of fact," Smith responded, slightly perplexed.

A coalition of 17 states and the District of Columbia, led by California, is suing the Environmental Protection Agency over its plan to change vehicle efficiency standards. The states are asking a court to review the EPA's proposed actions, arguing that they violate the Clean Air Act.

"We're not looking to pick a fight with the Trump administration, but when the stakes are this high for our families' health and our economic prosperity, we have a responsibility to do what is necessary to defend them," California's attorney general, Xavier Becerra, said.

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Lubna Olayan remembers the date. It was April 15, 1983, when she and her father sat down to dinner in Riyadh. Olayan and her American husband, John Xefos, had just returned to her native Saudi Arabia after nine years in the United States.

"Over dinner he says 'Lubna, what are you going to be doing here?' " Olayan recalls her father saying. Olayan had worked as a J.P. Morgan analyst in New York, and half-heartedly thought she'd see if there was work at a bank in Saudi Arabia. But her father had something in mind.

Healthcare is a giant part of the economy, and a huge drain on the public purse. More than a quarter of federal government spending goes to healthcare, which makes it a very political issue.

President Trump has stated his intention to create a more consumer friendly healthcare system... more market-based. Part of that is increasing price transparency for prescription drugs and medical procedures.

Updated at 4:20 p.m. ET

The world of online dating is about to get more crowded: Facebook announced on Tuesday plans to roll out its own matchmaking feature.

The news sent shares of Match Group tumbling. Match is an online dating conglomerate, with ownership in Tinder, match.com and OkCupid, among others. Shares of Match fell 22 percent for the day.

Senior officials with Match welcomed Facebook to online dating in statements made on Tuesday.

When Facebook CEO Mark Zuckerberg was grilled on Capitol Hill last month, Sen. Lindsey Graham asked him whether his company faces any real competition: "If I buy a Ford, and it doesn't work well, and I don't like it, I can buy a Chevy. If I'm upset with Facebook, what's the equivalent product that I can go sign up for?"

The company behind the iconic Gibson guitars — whose instruments have been played by Les Paul, B.B. King and Jimmy Page, among many others — filed for Chapter 11 bankruptcy protection in Delaware. The Nashville, Tenn.-based corporation's current properties also include Baldwin Piano, Gibson Pro Audio and Wurlitzer, a company once famous for its organs but whose brand name Gibson now uses only for manufacturing jukeboxes.

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Apple is preparing to release quarterly earnings, and Wall Street is a bit nervous. NPR's Laura Sydell reports that Apple's costly and much-hyped iPhone X apparently isn't selling as expected.

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Film star Ashley Judd has become the latest to file a lawsuit against Harvey Weinstein, accusing the embattled former Hollywood producer of damaging her career after she rebuffed his sexual advances.

In a lawsuit filed in Los Angeles, Judd alleges sexual harassment and defamation, saying Weinstein "badmouthed her to filmmaker Peter Jackson and cost her a role in the Lord of the Rings trilogy," according to Hollywood Reporter.

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The Trump administration has decided to hold off on imposing most of its tariffs on imported steel and aluminum until at least June 1.

Tariffs were scheduled to take effect at 12:01 a.m. Tuesday on imports from Canada, the largest U.S. supplier of steel and aluminum, as well as Mexico, Argentina, Australia, Brazil and the EU.

A source familiar with the decision says the administration has reached an agreement in principle with Australia, Argentina and Brazil, which may avoid the need for tariffs against those countries altogether.

Plotting A Route For Local Newspapers

Apr 30, 2018

If you want to know what’s happening in the world, now is the best possible time to be alive. A few taps of your fingers (or a short question to your smart speaker) can lead to you being bombarded with information, much of it true.

News, analysis, spin and opinion from across the country and around the world are easier to find than ever. But what about news from your own community?

Many local newspapers are struggling to stay profitable. And many others are closing.

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Every year, the average American buys a certain amount of goods and services. Inflation measures how the prices of those goods and services are changing.

The Federal Reserve has a target for inflation. It wants us at that sweet spot, where the economy is purring along, but not going so fast that it's in danger of overheating.

That sweet spot is two percent. And we hit that today. Which is great news. The question is, what does the Fed do now to keep us there?

Russia and Saudi Arabia have been longtime adversaries over geopolitics and military operations in the Middle East. Now, they've formed a surprising bond that is reshaping global oil markets.

As two of the world's largest oil producers, they have engineered significant production cuts to mop up an oil glut that had been keeping energy prices low for years. The unexpected alliance is one of the reasons motorists in the U.S. have seen prices at the pump climb 18 percent over the past year.

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