A new Spotify initiative makes the big record labels nervous
Spotify’s decision to forge closer relationships with artists comes with a big risk. Read more
Business Breaking
Cars are cruising down the monthly subscription highway
If you already subscribe to digital services like Netflix to binge on TV shows and Spotify to groove to an endless mix of music, the auto industry might have a deal for you: Subscribe to your next car as well. Read more
Tiny Alaska village experiences boom in polar bear tourism
A tiny Alaska Native village has experienced a boom in tourism in recent years as polar bears spend more time on land than on diminishing Arctic sea ice. Read more
Rouhani says Iran will export crude oil despite U.S. pressure
President Hassan Rouhani said Tuesday that Iran will continue exporting crude oil despite U.S. efforts to stop it through sanctions. Read more
Amazon is 2nd U.S. company to reach $1 trillion market value
Amazon today became the second publicly traded company to be worth $1 trillion, hot on the heels of iPhone maker Apple. Read more
Papa John’s founder seeks court help in battle with company
The founder of Papa John’s has filed a lawsuit against the company, its board of directors and CEO in the latest twist in the drama surrounding the pizza chain. Read more
Trump signs order to increase access to retirement plans
President Donald Trump on today directed the Labor and Treasury departments to work to make it easier for small businesses to band together to offer retirement plans to their workers. Read more
Trump intends to sign Mexico deal in 90 days, Trade Rep says
President Donald Trump has notified Congress that he plans to sign a trade agreement with Mexico — and Canada, if it is willing — in 90 days, U.S. Trade Representative Robert Lighthizer said today. Read more
Groundbreaking alternative paper Village Voice shuts down
The Village Voice, the Pulitzer Prize-winning alternative weekly known for its muckraking investigations, brash political reporting, exhaustive arts criticism and anxiety-laden cartoons, is going out of business after 63 years. Read more
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SBA loans for Kilauea eruption recovery top $30M
The U.S. Small Business Administration said it has approved more than $30 million in federal disaster loans for Hawaii businesses and residents impacted by the Kilauea eruption that began May 3. Read more
Hilton’s Waldorf Astoria to debut in Las Vegas
Hilton will begin rebranding the Mandarin Oriental hotel on the Las Vegas Strip as a Waldorf Astoria this week, a transition for the 389-room, casino-less property that will lead to renovations and mark the debut of another luxury brand on the world-famous corridor. Read more
July sets single-month record for Hawaii visitors
Despite volcanic-activity related softening on Hawaii island, more visitors came to Hawaii in July than in any other month in the state’s history. Read more
Post-disaster, business owners find varied paths to recovery
As small business owners in Hawaii and California clean up following Hurricane Lane and wildfires, they’ll find there’s no one formula for recovery. Read more
Widely used diabetes drug can cause flesh-eating genital infection
The U.S. Food and Drug Administration is warning doctors and patients that some widely used diabetes drugs may, in some rare cases, cause a flesh-eating bacterial infection of the genitals. Read more
U.K. Brexit chief says October deadline for deal may slip
The U.K. and the European Union may not meet their self-imposed October deadline for a divorce deal, Britain’s Brexit minister said. Read more
Dozens at Facebook unite to challenge its ‘intolerant’ liberal culture
The post went up quietly on Facebook’s internal message board last week. Titled “We Have a Problem With Political Diversity,” it quickly took off inside the social network. Read more
Rebuilding a struggle after California wine country fires
Santa Rosa was the hardest-hit city after California’s most destructive wildfire, with entire neighborhoods burned to ashes. But as of late August, only nine of nearly 2,700 single-family homes lost here had been rebuilt, according to figures from the city’s permitting office. Read more
China struggles to curb its reliance on U.S. buyers, suppliers
From medical products to smartphone chips to soybeans, Beijing is responding to President Donald Trump’s tariff hikes by pushing companies to trade more with other countries. But there are few substitutes for the United States as an export market and source of technology. Read more
Nissan launches China-focused electric car
Nissan’s first electric sedan designed for China began production today at the start of a wave of dozens of planned lower-cost electrics being created by global automakers for their biggest market. Read more
Musk says investors convinced him Tesla should stay public
The eccentric and sometimes erratic CEO made the decision based on feedback from shareholders, including institutional investors, who said they have internal rules limiting how much they can sink into a private company. Read more
Powell signals more hikes ahead if US economy stays strong
Federal Reserve Chairman Jerome Powell signaled today that he expects the Fed to continue gradually raising interest rates if the U.S. economic expansion remains strong. Read more
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