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Tribune News Service

Business Budget for Tuesday, July 2, 2019

Updated at 9 p.m. EDT (0100 UTC)

Adds TRUMP-FED:BLO

This budget is now available at TribuneNewsService.com, with direct links to stories and art. See details at the end of the budget.

^TOP STORIES<

^When getting fired gets violent — what experts say about avoiding workplace tragedy<

WRK-VIOLENCE:SJ — More than 20 million Americans are laid off or fired from their jobs each year. Most go quietly and move on. Steven Leet was the exception.

Fired from his job stocking parts at a Morgan Hill, Calif., Ford dealership Tuesday afternoon, the 60-year-old San Jose man lingered for nearly two hours and then barged into an open office where his two supervisors were meeting. He shot them to death, then walked outside and fatally shot himself.

It's still quite rare for employees to kill their co-workers on the job.

"But they do happen," said Wayne Maxey, a retired cop and district attorney investigator who's now an executive consultant in workplace violence prevention with Workplace Guardians of Temecula, California. "One of the big obstacles is that a lot of organizations just kind of assume it's not going to happen here."

1050 by John Woolfolk in San Jose, Calif. MOVED

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^Chinese tourists still love LA despite overall decline in visits to US<

CHINESE-TOURISTS:LA — For the first time in 15 years, the number of Chinese travelers to the U.S. dropped last year, a decline that travel experts attribute to trade tensions and a strong U.S. dollar that made purchases more expensive for Chinese visitors.

But local tourism officials are not wringing their hands because Los Angeles may be defying the national trend, they say.

To be sure, the growth of Chinese travel to Los Angeles has slowed. Visits grew by nearly 7% last year, down from 12% growth in 2017 and 20% in 2016, according to the Los Angeles Tourism and Convention Board.

1250 by Hugo Martin in Los Angeles. MOVED

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^OTHER BUSINESS NEWS<

^Citing climate change, Swiss insurer Chubb will stop insuring coal-fired power plants<

^COAL-CHUBB-INSURANCE:HC—<Chubb Ltd. announced Monday it will stop insuring coal-fired power plants, establishing a climate change policy intended to bear down on an energy source increasingly falling out of favor.

The Zurich, Switzerland-based insurer, which is the largest commercial insurer in the U.S., said it will no longer sell insurance to new coal-fired power plants or sell new policies to companies that get more than 30% of revenue from thermal coal mining.

Insurance coverage that exceeds this threshold will be phased out by 2022, and for utilities beginning in 2022.

600 by Stephen Singer. MOVED

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^Toyota expands Prius recall, reveals up to 20,000 hybrid inverters failed<

^AUTO-PRIUS-RECALL:LA—<As many as 20,000 Toyota Prius owners have had electric power system failures after the company recalled their vehicles in 2014 and attempted to remedy a safety defect by modifying software.

The disclosure was made by a Toyota executive during testimony in a high-stakes, two-month-long civil trial that had closing arguments Monday in Orange County Superior Court in Santa Ana, Calif. The jury of seven men and five women is scheduled to begin deliberating on Tuesday.

The case was brought against Toyota by Roger Hogan, one of the largest Toyota dealers in Southern California, who alleges that after he began sounding alarms about the problem Toyota retaliated against his dealerships in San Juan Capistrano and Claremont, Calif.

1100 by Ralph Vartabedian. MOVED

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^No sarin found in package sent to Facebook that prompted evacuations, officials say<

^FACEBOOK-EVACUATION:LA—<Facebook buildings that were evacuated Monday after equipment at the company's mail-processing facility in Menlo Park, Calif., detected a toxic chemical in a package reopened Tuesday after further testing revealed no threat, according to the company.

The package was delivered about 11 a.m. Monday to one of Facebook's mail rooms at 1195 Hamilton Court. Machines in the mail room detected the chemical sarin — a potentially lethal nerve agent — inside the package, prompting officials to evacuate four buildings and call authorities.

200 by Hannah Fry and Alejandra Reyes-Velarde. (Moved as a national story.) MOVED

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^American Airlines, mechanics spar in court over who's responsible for delayed and canceled flights<

AMERICAN-AIRLINES-MECHANICS:DA — A leader of the union representing American Airlines mechanics said a lawsuit accusing its members of slowing down work "came as a shock" during testimony in federal court Monday.

Gary Peterson, a Transport Workers Union vice president based at DFW International Airport, said he and other union leaders tried to disprove accusations that they told members to slow down work and turn down overtime to increase pressure on American as the parties negotiate a new combined contract after four years of talks.

600 by Kyle Arnold in Fort Worth. MOVED

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^Alaskan gold mine gets boost as Trump's EPA intervenes on permit<

MINING-ALASKA:BLO — The Environmental Protection Agency on Monday moved to ensure it has a role negotiating the terms of any permit for the massive Pebble Mine planned near Alaska's Bristol Bay, a move that may bolster the permit's chances of approval.

The EPA's action comes as the U.S. Army Corps of Engineers evaluates how the proposed gold, copper and molybdenum mine would affect the region's water, land and thriving salmon fishery. In comments filed with the Army Corps, the EPA invoked a provision in a federal clean-water law that would allow top officials from both agencies to work out disagreements over a potential mine permit.

600 by Jennifer A. Dlouhy in Washington. MOVED

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^House Democrats call for revival of meat labeling law<

MEAT-LABELING:CON — A meat labeling law repealed three years ago may be making a comeback as some lawmakers call for it to be added to the proposed trade pact designed to replace the 1994 North American Free Trade Agreement.

The country-of-origin labeling requirement, known as COOL, called for labels on beef and pork products to show where an animal was born, raised and slaughtered.

650 by Ellyn Ferguson in Washington. MOVED

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^Trump says he'll nominate Waller, Shelton to Federal Reserve<

TRUMP-FED:BLO — President Donald Trump said Tuesday he's planning to nominate Christopher Waller and Judy Shelton to serve on the Federal Reserve Board.

Waller, who is an executive vice president and the director of research at the St. Louis Federal Reserve Bank, previously served as a professor of economics at the University of Notre Dame.

Shelton, who has been an informal adviser to Trump, is the U.S. executive director for the European Bank for Reconstruction and Development.

400 by Josh Wingrove. MOVED

^WORKPLACE & CAREER STORIES<

^Boomers, not millennials, may be the most active generation in the gig economy<

^WRK-GIG-BOOMERS:SJ—<Millennials may have given rise to the hustle culture, but when it comes to putting in hours in the gig economy, Baby Boomers might have them beat.

Baby boomers — those born between 1946 and 1964 — earned the most money, took on the most gigs and earned the highest ratings on Wonolo, a platform where companies can find short-term workers.

"I think traditionally, people think of the gig workers as millennials," said Beatrice Pang, vice president of strategy and finance at Wonolo. "We actually always knew that they are much broader. Our workers range from 18 years old to over 80 years old."

950 by Leonardo Castaneda. MOVED

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^His auctioneering career began with wrangling pigs. Now he runs an auction house<

WRK-AUCTIONEERING:LA — Andrew Jones, 56, has converted his 40 years of experience at premium auction houses in the U.S. and abroad into his own business just south of downtown Los Angeles. Jones is president and chief executive of Andrew Jones Auctions, a full-service fine art and antiques auction operation, which recently celebrated its one-year anniversary with a winning bid of $220,000 for a very rare set of books — a complete second edition of "Description de l'Egypte," written in French by C.L.F. Panckoucke. The first book in the set, which took a decade to produce, was 199 years old. That was part of a two-day sale of 550 lots that brought in a total of $1.5 million. In a sign of how much the auction business has changed, only 100 people attended in person and 1,935 participated online.

1100 by Ronald D. White in Los Angeles. MOVED

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^The push for city-supported worker coops is taking hold in these Bay Area cities<

^WRK-COOPERATIVES:SJ—<While employee-owned businesses are a small minority of all companies in the Bay Area and in the nation, it's a model local cities are increasingly eyeing as one to invest in and sustain. The city of Berkeley became one of the first in the Bay Area earlier this week to directly support the worker-owned business model, when its City Council voted to approve $100,000 over two years to help existing companies as they transition to employee-owned entities. And on Tuesday, Berkeley's Loan Administration Board will consider changes to a revolving loan fund to make it easier for worker coops to take advantage of the funds, too.

950 by Erin Baldassari in San Jose, Calif. MOVED

^DAILY MARKETS GRAPHIC <

^<

Find here a daily Wall Street roundup graphic featuring Dow Jones Industrial Average, S&P 500 and Nasdaq data.

The 1-column x 4-inch graphic, Wall Street, will be posted by 6:30 p.m. EST Monday through Friday.

To find the graphic, visit the Graphics section of TribuneNewsService.com.

Those with questions regarding the graphic should contact the graphics team at 312-222-4131 or tydavis@tribpub.com.

^COLUMNS<

^Consumer Confidential: DNA-testing firms are lobbying to limit your right to genetic privacy<

^CNS-CONFIDENTIAL:LA—<Home DNA testing can be fun. I've done it for myself and for my dog. One of us unexpectedly turned out to be 3.1% Italian. The other is mostly Saint Bernard.

The less-fun side of the DNA-testing industry is the brave new world of genetic privacy.

What are these companies doing with our genetic data?

What happens if they find a DNA marker for cancer, diabetes or any other potential illness that insurers and employers would be very interested in knowing about?

How much genetic privacy is a consumer entitled to?

1000 by David Lazarus. MOVED

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These features regularly move on Tuesday:

^Liz Reyer: Part-timer pressured to work more hours worries about saying 'no'<

^WRK-REYER-QA:MS—<I work part-time out of choice in an hourly job. My problem is that my boss and co-workers don't respect my boundaries. They pressure me to cover for others and spend more time than I can at work, and then treat me as if I'm not one of the team when I refuse. How can I get them to be understanding so that work can be a more positive place for us all?

550 by Liz Reyer. MOVED

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