Money

How Mitch McConnell could stabilize Obamacare in 2018

The Senate GOP health care bill explained Mitch McConnell certainly doesn’t want to save Obamacare. But the Senate majority leader acknowledged Thursday that if Republicans can’t pass a health care bill, they would have to do something to shore up the Obamacare markets for next year. “If my side is unable to agree on an adequate replacement, then some kind of action with regard to the private health insurance market must occur,” McConnell said at a Rotary Club lunch in his home state of Kentucky, according to several media reports. ...

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All the quirky details you need to know about Elon Musk's Boring company

Elon Musk’s Boring Company releases slick video Elon Musk was clearly not joking when he said he was so tired of Los Angeles traffic that he was going to buy a tunneling machine “and just start digging.” The billionaire entrepreneur now has a tunnel-boring machine that is tearing through the earth under a plot of land that his rocket company, SpaceX, owns in the LA suburb of Hawthorne. Musk even tweeted last month that an elevator — which will allow cars to access the tunnel — should be “up and ...

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Sears to close 43 more stores

Is the mall dead? Sears is closing another 43 struggling stores. Sears Holdings (SHLD)— the parent company of Sears and Kmart — announced on Friday that it will shutter eight of its namesake Sears department stores and 35 Kmart locations, adding to the list of 236 stores Sears has announced plans to shut down in 2017. With the newest round of closings, Sears Holdings is poised to close down about 20% of its locations. The company said in a blog post that the store closures are part of an ongoing ...

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Frank Rich: Trump's vitriol against the press is 'un-American'

President Trump’s constant bashing of the press is a strain on our democracy in more ways than one. His rants against the media are not so much “un-presidential” as they are “un-American,” in that they violate the First Amendment and show “no respect for the bill of rights,” Frank Rich said in this week’s edition of the Reliable Sources podcast. Rich, a writer at large at New York magazine and an executive producer on HBO’s “Veep,” spoke to Brian Stelter about the recent presidential tweet featuring a doctored WWE video ...

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'Spider-Man: Homecoming' and the attack of the acclaimed superhero movie

The Marvel model for success This year has seen an unlikely alliance forged between superheroes and one of their longtime foes: movie critics. In past years, superhero films brought in hundreds of millions at the box office, but did so while often being panned by critics. Perhaps never before has there been a year like this one, when all the leading superhero movies — “Wonder Woman,” “Logan,” “Guardians of the Galaxy Vol. 2” and this weekend’s “Spider-Man: Homecoming” — have been critical favorites. This new trend in Hollywood, making superhero ...

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Google's new startup uses energy from your lawn to heat your home

Google’s concept car … operating system Another one of Google’s secret projects is becoming its own company. A new startup called Dandelion, born from the secretive and futuristic lab “X” of Google’s parent company Alphabet, says it will offer affordable geothermal heating and cooling systems to homeowners. Existing systems are typicallyexpensive with big upfront installation fees, discouraging homeowners from adopting the technology. Related: Why it’s really hard to pitch a green energy startup Home geothermal systems tap into the ground’s energy. Because geothermal energy is generated and stored in the ...

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Europe 'in battle mood' over Trump's steel threat

How to negotiate a trade deal Europe is ready to fight back if President Trump introduces tariffs on steel imports, a top EU official said Friday. “We will react with counter measures within a few days, we do not need two months,” European Commission President Jean-Claude Juncker told reporters at the G20 summit in Hamburg on Friday. “I say this in the hope that all of this will not be necessary, but we are really in battle mood,” he added. The Trump administration has indicated it may slap big tariffs ...

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The young entrepreneur bringing cleaner air to India's villages

How a ‘biomass stove’ could change the way rural India cooks When he started his business six years ago, Ankit Mathur wanted to improve the lives of India’s 900 million villagers, and do something about the country’s filthy air. Now, through their firm Greenway Grameen Infra, Mathur and his co-founder Neha Juneja are doing both — by changing the way rural Indians cook, one household at a time. “We started out with the idea that we will make products for the rural market,” Mathur told CNNMoney. Nearly 70% of Indian ...

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The opioid crisis is draining America of jobs

Ohio sues drugmakers over opioid epidemic The opioid epidemic has crippled communities across the United States, spurred a public health crisis, and is responsible for nearly 100 overdose deaths each day. Opioid abuse is also hurting America’s job market. Use of opioids has become a key factor in why “prime age” workers, mostly men, are unable or unwilling to find work, according to a new report by Goldman Sachs(GS). A declining share of adult Americans are working or looking for work, according to Labor Department data. The trend has been ...

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Elon Musk promises world's biggest lithium ion battery to Australia

Inside Tesla’s enormous battery factory Elon Musk is following through on his promise to solve an energy crisis in Australia. His electric car company, Tesla(TSLA), has teamed up with a French renewable energy firm and an Australian state government to install the world’s largest lithium ion battery. Paired up with a wind farm in the state of South Australia, the battery will be three times more powerful than the next biggest in the world, Musk said at a news conference in the city of Adelaide on Friday. “If South Australia’s ...

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