GM offers transfers to workers affected by layoffs
RTT News

General Motors is offering employees working in plants scheduled to close the opportunity to transfer to other facilities where jobs are available. About 1,100 workers have already agreed to transfer.

Education Dept. scraps loan-servicing plan

The US Department of Education is canceling a plan to improve the student-loan system that included a website that would standardize loan-servicing procedures. The move comes after seven loan-servicing companies, including Navient, filed lawsuits seeking to force the department to begin a new solicitation process.

Congress breaks with no plan to avert shutdown

Congress took a break for the weekend without a plan for heading off a partial shutdown of the US government next week. Talks on keeping the government running haven't progressed since President Donald Trump said he is willing to take the blame for a shutdown if he doesn't get funding to build a wall along the border with Mexico.

Costco wins holiday shoppers by staying the course

Costco's frills-free membership model keeps holiday sales growing without the retailer having to implement tech-driven changes like mobile checkout and free shipping. The retailer saw higher foot traffic last month and sales of big-ticket items were up in several categories.

Federal judge rules ACA is unconstitutional without mandate penalty

A federal judge in Texas has ruled that the entire Affordable Care Act is unconstitutional following the repeal of the law's individual mandate penalty, but administration officials said the law, which could end up before the Supreme Court, stands while the decision is appealed. Legal experts questioned the rationale behind the ruling's discussion of congressional intent, noting Congress considered unraveling the entire law but ultimately did not do so.

Do other brands stand a chance on Amazon?

Advertisers express frustration at Amazon's propensity to prioritize its own products when it comes advertising space on its site, especially on major shopping days like Cyber Monday. "When you have Amazon spending significantly to advertise its own products it doesn't leave a lot of room for competitors," says Downstream CEO Connor Folley.

Loyal shoppers buoy Neiman Marcus, J.C. Penney

Texas-based department store retailers J.C. Penney and Neiman Marcus have weathered retail's shifting landscape with the help of loyal shoppers who depend on the stores as traditional touchstones in a changing world. Both companies have new chief executives at the helm as they face more challenges, including heavy debt loads and changing shopper habits.

CEO: Cyberspace rules of engagement are "broken"

FireEye CEO Kevin Mandia said that the rules of engagement in cyberspace are broken, raising questions about what is "fair game" for espionage. Meanwhile, companies will struggle to stay ahead of cybercriminals, considering that companies are "up against some of the best hackers in the world," Mandia said in an interview with CNBC.

FDA withdraws generic-drug labeling proposal

The FDA withdrew a proposed rule that would have required generic-drug makers to monitor patient safety and update labels with new safety data regardless of updates to the reference product's label. Some stakeholders had expressed concern that the rule could have undermined public confidence in generics and led to higher prices and confusion among patients and physicians.

White House orders reports on national 5G strategy

The White House has issued a memorandum calling for reports and recommendations related to wireless technology, setting in motion a process intended to produce a national 5G connectivity strategy. At the same time, it made a blog post headlined "America Will Win the Global Race to 5G."

Apple plans $1B, 133-acre campus in Texas

Apple will invest $1 billion to construct a 133-acre campus in Austin, Texas, that initially will support 5,000 new employees. The company also intends to build new sites in San Diego, Seattle and Culver City, Calif., and will add to its facilities in New York, Pittsburgh and Boulder, Colo.

Zinke resigns as Interior secretary amid ethics probes

Interior Secretary Ryan Zinke submitted his resignation Saturday, leaving at the end of the year amid over a dozen ethics investigations into his spending habits and other activities. Deputy Interior Secretary David Bernhardt is expected to be named acting secretary.

Delta debuts US' 1st biometric terminal at Ga. airport

Delta Air Lines has launched a biometric international terminal at Georgia's Hartsfield-Jackson Atlanta International Airport, featuring facial-recognition technology at check-in, the security checkpoint, boarding and Customs.

Carnival's Mardi Gras to include groundbreaking roller coaster

Carnival Cruise Line's upcoming ship Mardi Gras will make history when it debuts in 2020. It will include a roller coaster at sea, an industry first.