Economy & Business

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CBS Corporation CEO Leslie Moonves has been named executive chairman of the CBS Board of Directors, following longtime chief Sumner Redstone's resignation.

"I am honored to accept the chairmanship of this great Company," Moonves said in a statement. "I want to thank Sumner for his guidance and strong support over all these years. It has meant the world to me."

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Last year ended on a positive note for Milwaukee’s real estate sector. The Greater Milwaukee Association of Realtors reported the area had its strongest December for home sales since 2004.  It was the eleventh straight month home sales increased here.

At the same time, the latest numbers show some cautionary signs – especially for people trying to afford their first home.  Lawrence Yun is the chief economist for the National Association of Realtors, and he adds some context to the discussion.

Last November, Amazon did the unthinkable for an online retailer known for undercutting brick-and-mortar bookstores: It opened a walk-in store in Seattle. Now, there's talk that Amazon plans hundreds of them.

On an investor call Tuesday, Sandeep Mathrani, CEO of mall operator General Growth Properties, said: "You've got Amazon opening bricks and mortar bookstores, and their goal is to open, as I understand, 300 to 400 bookstores."

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Michigan Gov. Rick Snyder is proposing that $30 million in state funds be used to help pay Flint residents' bills for the city's lead-tainted water.

This comes after a growing outcry from Flint residents about having to pay for water that isn't safe to drink. Residents have been relying on donated bottled water.

Michigan Radio's Kate Wells tells our Newscast unit how Snyder's proposal would work:

The government of Luxembourg announced Wednesday that the country will be investing in the as-yet-unrealized industry of asteroid mining.

In January, the company established two set 10-minute breaks per shift, for Muslim employees to say their daily prayers. Beforehand, the 53 workers could say their prayers when their faith requires such as as sunset, which moves with the seasons.

When the company began enforcing the policy, dozens of its Muslim employees of Somali descent walked off the job in protest. Since then, according to the company, 32 of the workers have begun abiding by the policy, 14 resigned and this week, Ariens terminated seven who violated the company edict.

Toyota has announced that it is pulling the plug on Scion, its offshoot car brand aimed at younger drivers.

Scion, which started in 2003, has seen lagging sales, with a mere 56,167 cars sold last year in the U.S.

Scion owners will be able to get their cars serviced by Toyota, and many Scion vehicles will be re-branded as Toyotas, according to a press release.

My Economy: The divided life of business at the border

Feb 3, 2016
Wall.jpg
Kai Ryssdal, Tommy Andres and Daisy Palacios

Our team was down in El Paso a few weeks ago for our election-year series "My Economy." We collected a bunch of stories, including these about small businesses on the border. 

The local economy is the global economy

Southern California Gas Co., the utility that owns a natural gas storage well that has been leaking since November, faces criminal charges over the leak and its alleged delay in alerting authorities to the problem.

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