San Diego Union-Tribune Business

By Robbie Sequeira, Stateline.org For decades, manufactured home builders have been working to shed the old image of boxy trailer homes reserved for the outskirts of cities and suburbia. Now, a small change in federal regulations could open the door for architecture welcomed in more neighborhoods. This summer’s sweeping housing bill, the 21st Century ROAD to Housing Act, removed a 1974 mandate that required every manufactured home to be built on a nonremovable steel frame, known as a chassis. Ex

The new owner of the office tower at the corner of Ash and India streets in downtown San Diego’s Little Italy neighborhood is preparing to convert the recently foreclosed-on building into 184 residential units for low-income households. Last month, a limited liability company affiliated with affordable housing developer Vintage Housing purchased the 19-story tower at 610 W. Ash St. for $26 million, according to property records. The developer has also applied for federal subsidies to help financ

These new glasses can help you hear. You read that right. Former Qualcomm engineers have invented smart glasses that can amplify the sounds you want to hear while reducing the background noise around you. Now the startup is recruiting San Diego-area participants to test its latest prototypes. The San Diego company behind the glasses is Aynak, which means “eyeglasses” in Persian. CEO Ramesh Chandrasekhar founded the company two years ago after leaving Qualcomm, where he spent 26 years, serving as

By BERNARD CONDON NEW YORK (AP) — Binance and its billionaire founder have long been accused of profiting off crypto criminals. Now they have become victims. Targeted in what looks like the largest cryptocurrency heist in history, Binance and Changpeng Zhao have been front-page news for most of the crypto exchange’s short history, often in unflattering ways. He and his company have been accused of turning a blind eye as the exchange was used by drug traffickers, child abusers, terrorists and mon

By Kevin Crowley and Mitchell Ferman, Bloomberg News Big Oil reaped more than $50 billion in windfall profits as conflicts in the Persian Gulf and Russia roiled energy markets and drove refining results to record highs. ExxonMobil Holdings Corp., Chevron Corp., BP Plc, Shell Plc and TotalEnergies SE all surpassed analysts’ expectations with combined adjusted net income of $56.3 billion in the most recent quarter, the third-highest combined earnings on record, according to data compiled by Bloomb

Even if President Donald Trump cuts the peace deal of the century with Iran before Thanksgiving, calming jittery oil markets in the process, holiday travelers are unlikely to catch a break with air fares or achieve dramatic savings at the pump. Average prices at the pump last year at this time were just over $3 a gallon. This year: $4-plus. And the nation’s airlines, pressed by their own outlandish fuel bills, acknowledge they are keeping fares high to compensate for energy expenses they never i

Democrats in San Diego’s delegation of the U.S. House of Representatives say they intend to introduce federal legislation specifically designed to thwart a potential data center from being part of a redevelopment effort at Naval Base Point Loma Old Town Campus, which is home to Naval Information Warfare Systems Command (NAVWAR). U.S. Reps. Sara Jacobs, Scott Peters, Mike Levin and Juan Vargas said Thursday they want to keep any proposals for a data center from moving forward without local

San Diego’s high-end real estate market has lifted up the overall market for most of this year but cracks are now showing. There were 120 pending sales in October for San Diego County homes listed above $2 million, said real estate firm Reports on Housing, down by nearly half in four months. In May, there were 232 pending sales, which was the highest the firm ever recorded. Luxury properties are also taking longer to sell, down from historically uncharacteristic lows in the summer — when s

Wind, rain or flooding caused by predicted El Niño conditions this winter may result in significant damage to buildings and cars. There has been no shortage of warnings, from declared states of emergency by the governor and San Diego mayor to multiple weather advisories. “Chances remain high for a historic event that would exceed the strength of previous El Niño events dating back to 1950,” a federal weather advisory announced this month. Even without an El Niño condition, an analysi

By MICHELLE CHAPMAN ExxonMobil and Chevron both reported better than expected quarterly results Friday as the oil majors benefited from higher prices and record production. Besides the disruption caused by the wars in Iran and Ukraine that have driven up the cost of fuel, Exxon is also seeing strong production in its fields in Guyana and the Permian Basin in the Southwest. Chevron said its results include one month of production in Venezuela where it’s making a big investment. Utilization at Exx

By STAN CHOE, AP Business Writer NEW YORK (AP) — A sell-off for tech stocks got even worse Friday on worries that Wall Street’s frenzy around artificial-intelligence technology sent prices too high. The S&P 500 tumbled 1.8% for its worst day since June, and it closed out a third straight losing week. The weakness for technology stocks dragged the Nasdaq composite down a market-leading 2.9%, while the Dow Jones Industrial Average dropped 572 points, or 1.1%. The U.S. stock market remains only

San Diego lawmakers were quick to condemn a recently revealed proposal from Manchester Financial Group to build a data center near Old Town. Mayor Todd Gloria signed an executive order directing city staff to advance a temporary moratorium on new data center development within the city limits. Other lawmakers held a news conference to condemn the data center plan, and the City Council has since agreed to pass a 45-day moratorium, per Gloria’s order. Manchester Financial Group has emphasize

By MATT OTT, AP Business Writer WASHINGTON (AP) — The average long-term U.S. mortgage rate declined for the second straight week, falling to its lowest level in more than a month. The benchmark 30-year fixed-rate mortgage fell to 7.24% from 7.32% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.17%. Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also fell this week. That average rate dipped to 6.60% fro

By STAN CHOE, AP Business Writer NEW YORK (AP) — A historic drop for Alphabet’s stock dragged the U.S. market lower Thursday after the company behind Google and YouTube reported weaker growth for the summer than analysts expected. The report underscored worries about whether all its huge investments in artificial-intelligence technology will pay off. The S&P 500 fell 0.3% for its first loss in four days, even though the wide majority of stocks rose within the index and across Wall Street. Th

By MARC LEVY HARRISBURG, Pa. (AP) — Utah on Wednesday filed criminal charges against prediction market operator Kalshi and two of its executives, months after a federal judge rejected Kalshi’s effort to prevent Utah from enforcing its strict anti-gambling laws against the activity. The felony charges could represent a new tactic in how states try to assert regulatory authority over the fast-expanding activity, a clash that appears headed to a showdown at the U.S. Supreme Court. The charges inclu

By PAUL WISEMAN, AP Economics Writer WASHINGTON (AP) — The number of Americans applying for unemployment claims dipped last week to 194,000 — the lowest since mid-July — as layoffs remain low and most Americans enjoy job security. The Labor Department reported Thursday that initial jobless claims were down last week from a revised 195,000 the week before. The four-week average of claims, which strips out week-to-week volatility, fell to 196,750. Applications for jobless benefits are a proxy for

By CHRISTOPHER RUGABER, AP Economics Writer WASHINGTON (AP) — An inflation gauge closely monitored by the Federal Reserve accelerated last month, showing that prices remain elevated less than a week before midterm elections in which affordability concerns have become a central issue. Consumer prices rose 3.6% in September from a year earlier, the Commerce Department said Thursday, up from 3.4% in August. On a monthly basis, prices climbed 0.5%, up from 0.3% in August and the highest figure since

GREELEY, Colo. — The most surprising thing wasn’t the dismembered latex limbs — veins protruding, fingernails gnarled — suspended by clotheslines on the rows upon rows of drying racks adorning the walls. It was Olivia Newton-John and John Travolta’s “You’re the One That I Want” serenading employees as they crafted spooks and specters destined for haunted houses, amusement parks, corn mazes and the front yards of dedicated Halloween decorators across the globe. Surprises lurk around every corner

By PAUL WISEMAN, AP Economics Writer WASHINGTON (AP) — The U.S. economy grew at a healthy 3.4% annual pace from July through September, accelerating from the second quarter on strong consumer spending and investment in artificial intelligence. The expansion in third-quarter gross domestic product — the nation’s output of goods and services — was faster than the 2.2% growth registered from April through June, the Commerce Department said Thursday. Consumer spending rose at a brisk 3.8% clip in th

By DEE-ANN DURBIN, AP Business Writer DoorDash is offering $17 billion to buy Instacart to supercharge its grocery delivery business in what would be a big consolidation in grocery delivery. DoorDash said the Instacart brand name and app will remain, and Instacart shoppers would be able to continue fulfilling orders as before. Grocers can also choose to work with Instacart or DoorDash. Instacart customers will now have access to 50,000 additional stores covered by DoorDash, the company said. Ins