KSFO Business News

How Robert Kraft became a billionaire

Robert Kraft bought the New England Patriots in 1994 from an owner who wanted to move the team to St. Louis and call them the Stallions. “My objective in buying the Patriots is to help bring a championship to New England,” Kraft said when he took over the team. Kraft paid $172 million, then a…MORE

Rivals BMW and Daimler are spending $1 billion (together) on the future of transportation

BMW and Daimler are putting more than $1 billion into a joint venture that will develop ride-sharing, charging and parking services. The rival German carmakers announced the investment on Friday in Berlin, describing their mobility business as a “global game changer” that could help fend off challenges from upstarts including Uber. “Our mobility services have…MORE

Ford is investigating its fuel economy and emissions testing

Ford is investigating the testing procedures it uses to certify its fuel economy and emissions standards after employees raised concerns about potential inaccuracies. It has hired an outside firm to look into the testing process the company said in a statement on Thursday. Ford has also brought on independent experts and will be using an…MORE

Huawei is growing in Canada despite pressure there

China’s Huawei is growing its presence in Canada, despite intense pressure on the company from the United States and geopolitical tensions between Ottawa and Beijing. The phone and telecom equipment maker said Thursday that it will add 200 new research and development jobs in Canada, a 20% increase. It will also up its research and…MORE

WSJ: Under Armour CEO’s relationship with MSNBC anchor causes stir

Under Armour founder and CEO Kevin Plank has been soliciting business advice from MSNBC anchor Stephanie Ruhle, the Wall Street Journal reported Thursday. Under Armour employees were uncomfortable with the relationship, according to the newspaper, which also said that Ruhle traveled with Plank and Under Armour staff on a private jet he leases to the…MORE

Applebee’s just had its best year since 1993

Applebee’s focus on comfort food made last year its best since 1993. The company’s sales at US stores open at least a year grew 5% in 2018, a “milestone,” Applebee’s president John Cywinski said Thursday. “We’ve got a brand with a history that people love and we’ve returned to its roots, which is what people…MORE

Nike’s stock falls after Duke star breaks sneakers

Nike is playing damage control after Duke basketball phenom Zion Williamson tore his sneaker in a game Wednesday evening. Nike’s stock dropped 1.5% in early trading Thursday. Nike builds its reputation around creating premier shoes and clothes for athletes, but that image took a hit with Williamson’s sneaker snafu. Analysts attributed the stock move to…MORE

US tariffs could cost German automakers $7 billion a year

US tariffs could cost German automakers $7 billion a year, but they will hurt more than just car factories. President Donald Trump has less than 90 days to decide whether to impose tariffs of up to 25% on vehicle imports, a threat that has unnerved automakers in the industrial powerhouse of Germany. The tariffs would…MORE