Tribune News Service

Business Budget for Monday, July 29, 2019

Updated at 10 a.m. EDT (1500 UTC)

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


^A 26-year-old billionaire is building virtual border walls — and the federal government is buying<

^CPT-ANDURIL-DRONE:LA—<On a Friday afternoon in late July, a crowd of techies, military types and a few civilians deployed to the new Irvine, Calif., headquarters of Anduril Industries, a defense tech start-up, to sip hibiscus margaritas and admire the sensor towers and carbon-fiber drones on display. Dave Brubeck tinkled over the sound system, and the dress code skewed office casual and pastel, offset by the bright red pop of a lone "Make America Great Again" hat by the taco bar.

After an hour of socializing amid surveillance equipment, Palmer Luckey, the company's 26-year-old near-billionaire founder, mounted a stage for the ribbon-cutting. Luckey had wanted to use the company's namesake sword — a legendary weapon in "The Lord of the Rings" wielded by the hero Aragorn — for the ceremony. A replica of the movie prop hangs on the wall in the office, dramatically underlit with a purple bulb. But Luckey had just gotten back from his honeymoon and hadn't had time to sharpen it.

1700 by Sam Dean. MOVED


^How Starbucks has picked up steam again<

^STARBUCKS:LA—<A year ago, the outlook for Starbucks Corp. seemed as flat as a day-old latte.

The giant coffee chain's stock essentially had been dead money for three years running, trading around $52 a share just as it had in mid-2015, as investors saw little to cheer about.

But Starbucks' prospects and its stock took off again a year ago and, after the company posted another strong quarter Thursday, the stock has now soared 93% in the last 12 months, making it the biggest gainer in the Standard & Poor's 500 index in that period. With a closing price of $99.11 a share on Friday, the chain now has a market value of $121 billion.

1200 by James F. Peltz. MOVED



^US-China talks set to resume as neither seems eager for a deal<

USCHINA-TRADE:BLO — Almost three months after their trade talks broke down in acrimony, Chinese and American negotiators meet again in Shanghai this week amid tempered expectations for breakthroughs in their yearlong trade war.

Two days of talks are scheduled to restart Tuesday after an uneasy truce reached by Presidents Donald Trump and Xi Jinping on the sidelines of the Group of 20 summit in Osaka, Japan, last month. Deep tensions remain, though, and recent days have brought mixed signals from both sides, with neither showing an urge to compromise.

850 by Kevin Hamlin in Beijing. (Moved as a world story.) MOVED


^Survey: More than 1 in 4 delivery drivers taste the food they're dropping off<

^FOOD-DELIVERY:SJ—<Ordering dinner straight to your doorstep via an app may be convenient, but it turns out that relying on a driver to deliver your food untouched may not be a safe bet.

According to a new survey from US Foods, about 28% of drivers admitted to taking food from deliveries, which people place through apps like Uber Eats and DoorDash. More than half said they were tempted by the smell of the food they were charged with dropping off.

150 by Emily DeRuy. MOVED


^Polaris launches rebranding campaign, aims to diversify audience<

^POLARIS-REBRANDING:MS—<Polaris Industries is adopting its first new logo in 38 years and launching a rebranding campaign to showcase its newly expanded product line with the goal of boosting its customer base by 50% in 10 years.

Company officials were to announce Monday the rebranding effort for the Minnesota-based maker of outdoor vehicles from ATVs to boats.

The company is pursuing a three-pronged approach that includes the name change, a new logo and a new marketing effort that aims to use more women, millennials, blacks, Latinos and other groups who might not be as familiar with Polaris' vast array of products, officials said.

700 by Dee DePass. MOVED



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. EDT 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.


^Erin Arvedlund: Chapter 13 bankruptcy for student loans? It's possible<

^PFP-ARVEDLUND-COLUMN:PHI—<You can file for Chapter 13 bankruptcy to help dig out from under student loans.

Note, we aren't saying you can get rid of — or discharge — student loan debt. Instead, if you want to package and repay your student loans, it's possible under Chapter 13 bankruptcy law, says Jay Fleischman, a student loan lawyer and operator of MoneyWise Law in New York and California.

750 by Erin Arvedlund. MOVED

^Michael Smolens: Climate change and California's coming insurance crisis<

^SMOLENS-COLUMN:SD—<California is so concerned over the future cost and availability of insurance it's calling in the United Nations for help.

Recent reports detail how homeowner insurance policies in regions prone to wildfire — like San Diego's rural areas — are being canceled or becoming significantly more expensive.

Developments planned for high-risk fire zones are not only being challenged politically and legally over whether they diminish the quality of life for people living nearby, but also over public safety and climate change concerns.

1100 by Michael Smolens. MOVED


These features regularly move on Monday:

^Susan Tompor: How much of your paycheck goes to student loans?<

^PFP-TOMPOR-COLUMN:DE—<Imagine being 24 or younger and dedicating 16.8% of your take-home pay to your student loan payments.

It's quite a chunk of change. We could be talking about $560 a month in student loan payments, for example, for a couple with a $40,000 take-home income.

But that's exactly what's happening to some borrowers. A quarter of Chase account holders aged 18 through 24 are dedicating at least 16.8% of take-home income to student loan payments, based on a new study by the JPMorgan Chase Institute.

950 by Susan Tompor. MOVED


^The Journey: 5 things retirees should do with their credit<

^PFP-JOURNEY:MCT—<Whether or not you're one of the 147 million consumers affected by the 2017 Equifax data breach — which resulted in a Federal Trade Commission settlement of up to $700 million last week — retirees need to stay vigilant about their credit profiles, experts say.

That may seem counterintuitive, particularly to those who pay off their homes, cars and other debt by the time retirement is on the horizon. Retirement itself, in fact, doesn't hurt a credit score directly.

650 by Janet Kidd Stewart. MOVED


^Kids and Money: Warn your teen about identity theft<

^PFP-KIDSANDMONEY:MCT—<"I have some important information about your credit card, and I need to verify your account number."


"I'm from the Internal Revenue Service and I have some questions about your tax return. First, I need your Social Security number to verify your account."


"I'm calling to go over some information on your student loan account. I will need your account number and your Social Security number."


600 by Steve Rosen. MOVED



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