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Business news from North Texas, across the state and beyond.

Updated at 1:02 a.m. ET Sunday

Elon Musk, Tesla's chief executive, has reached a deal with the Securities and Exchange Commission to settle a securities fraud charge brought against him on Thursday, the agency announced on Saturday.

Under the terms of the settlement, Musk has agreed to step down as chairman of the Silicon Valley-based company, but will remain in his post as CEO.

Updated at 9:32 p.m. ET

The U.S. Securities and Exchange Commission is suing Tesla CEO Elon Musk, alleging securities fraud a month after he announced that he planned to take the publicly traded electric-car company private.

"Musk's false and misleading public statements and omissions caused significant confusion and disruption in the market for Tesla's stock and resulting harm to investors," the lawsuit says.

Airline travelers should prepare to dig deeper or pack lighter, as many of the biggest U.S. airlines have now raised the price for checking luggage.

American Airlines, the largest air carrier by passenger volume, is the latest to do so, announcing Thursday that it will raise fees from $25 to $30 for the first checked bag and from $35 to $40 for the second checked bag each way on flights to and from destinations within the U.S., North America and the Caribbean. The airline will begin charging the higher fees Friday, Sept. 21.

Updated at 6:02 p.m. ET

A federal judge on Tuesday gave his blessing to telecom giant AT&T's drive to take over the Time Warner media conglomerate. U.S. District Court Judge Richard Leon rejected arguments by Justice Department lawyers that the combined company would be too large and too powerful and that the $85 billion deal would harm competition and hurt consumers.

If a shopper clicks "buy" for a product that costs $1,000 or more, it's twice as likely to be a man than a woman. That's one of the results revealed in a new NPR/Marist poll about online shopping.

Christopher Connelly / KERA News

After some bad years, things are looking up for the freight rail industry right now — and that’s being felt at GE’s locomotive factory in far north Fort Worth. The plant is in the process of nearly doubling its staff, partly because of increased demand for brand-new locomotives, and partly because the factory has been overhauled to refurbish old ones.

Updated at 4:55 p.m. ET

The stock market went on a wild ride again on Monday, with the Dow Jones industrial average closing down 1,175 points, its worst point drop in history. The Dow closed down 4.6 percent and turned negative for the year.

At one point Monday afternoon, the Dow was down 1,579 points — the largest intraday point drop in the history of the index.

Christopher Connelly / KERA News

Amazon set off a big, public scramble when it announced last month it was looking for sites for a second North American headquarters.

Jerome Weeks / KERA News

Over 16 years ago, Dallas almost won the headquarters of another Seattle-based giant contemplating a move: Boeing. Although it ultimately lost to Chicago, the story didn’t end there. 

That defeat is part of the reason Dallas is competing to win Amazon’s second headquarters today.

Lauren Silverman / KERA News

On a busy Dallas street, next to a bank and a Kroger supermarket, there’s something you might not expect: Dozens of people manufacturing products on a factory floor bigger than a football field. They’re making pens and sunglass cases, shirts and vests. 

The majority of these people are blind or visually impaired.

Seastock / Shutterstock

When Amazon announced plans in September to build a second North American headquarters, it set off a mad scramble by cities to woo the world’s largest e-commerce company. Dallas-Fort Worth might be a strong contender for what looks to be a massive development. 

Courtesy of Jon McNight

Drive along Interstate 35W in Fort Worth and you'll see a painted sign on a three-story brick building: O.B. Macaroni. 

For more than a century, the building was home to a family-owned maker of macaroni and other starchy products. Now, this old landmark is getting new life: Entrepreneurs are moving in and finding space to make their own goods and expand their brands.

Billionaire Warren Buffett has been outbid in his effort to buy Texas’ largest transmission utility.

American Airlines

More than 1,000 American Airlines employees picketed the world’s largest carrier Wednesday at D-FW International Airport.

Updated at 3:26 p.m. ET

Uber's leadership already has a lot on its plate, starting with finding a new CEO after former chief Travis Kalanick resigned abruptly last month. But that's not all the tech giant has to do. For the business to survive, Uber also has to repair its relationship with drivers, which leaders at the company say is "broken."

There’s almost enough pipeline transporting crude oil and other chemicals buried under Texas to reach the moon and back. Last week, one small section of that infrastructure in Bastrop County was damaged by a maintenance crew. The result was a spill of more than 50,000 gallons of crude oil.

Chris Connelly / KERA News

A North Texas community institution is facing a $2 million budget shortfall. The United Way of Tarrant County has cut one-third of its staff positions to preserve funding for the programs it supports in and around Fort Worth.

Faced by an increasingly challenging philanthropic environment and with new leadership coming in, the local United Way is changing how it works in a bid for success in the social media age.

Christopher Connelly / KERA News

In Arlington, officials broke ground Friday on a new supplier park for companies that make components for the SUVs built at the General Motors Assembly Plant. It’s a move that GM hopes will make it operate more efficiently, and is expected to add jobs.        

United Airlines is increasing the amount it will pay passengers who get bumped from overbooked flights to as much as $10,000. That announcement comes after its CEO, Oscar Munoz, called a now-infamous video showing police violently dragging a seated passenger off a full flight earlier this month "horrifying."

"When we read that story, our reaction was, 'Dang, I wish we'd been on that flight,' " says Fay Fishman, a veteran traveler with a love of getting bumped off overbooked flights.

Mike Stone / Reuters

Rex Tillerson, the nominee of President-elect Donald Trump for secretary of state, is severing ties with Exxon Mobil through a $180 million retirement package one week before his Senate confirmation hearing begins.

North Charleston / Flickr

When you don’t have much money, finding legal representation is a challenge; which is why North Texas legal aid groups want families with limited resources to know, help is out there.

Bill Zeeble / KERA News

It’s been a bumpy week for Dallas based southwest Airlines. This week, a computer outage took down its website, forcing 1,300 flight cancellations, and stranding passengers and crews. Then, despite a record second quarter profit, its stock price fell. Today, hundreds of union members picketed at Love Field over stalled contract talks.  

Chris Parypa / Shutterstock

American and Southwest Airlines both got tentative federal government approval today to start commercial flights to Cuba. But there will be no non-stops out of north Texas airports.

Reuters

The North Texan who led Pepsi during the 1980s Cola Wars has died at age 71.

The leading candidates for the Republican and Democratic nomination for president – Donald Trump and Hillary Clinton - disagree on just about everything. Everything, it seems, except the Trans-Pacific Partnership.

glynlowe via flickr

Fort Worth’s Zoning Commission voted Wednesday to support a historic overlay district that would add protections to the oldest buildings in the Fort Worth Stockyards. The vote isn’t binding – it’s ultimately up to the City Council – but the designation could have a big impact on how the Stockyards are redeveloped.

Wal-Mart Closing 269 Stores, Including 29 In Texas

Jan 15, 2016
Ken Wolter/Shutterstock.com

Wal-Mart is closing 269 stores, more than half of them in the U.S. and another big chunk in its challenging Brazilian market.

Christopher Connelly/KERA

For most of us, the word “auction” conjures up images of antiques or fine art or even foreclosed houses. Ritchie Bros. in Lake Worth offers a very different kind of auction – one on the scale of massive earth-moving equipment.

Brandi Korte via flickr

The holiday shopping season kicks into high gear Friday (and, in the case of a few stores, Thursday night). When you start talking shopping strategies, it becomes pretty clear pretty quickly how differently we all approach the task. 

US Airways

At this hour, US Airways’ last flight is underway.  By tomorrow, the carrier becomes fully integrated into Fort Worth’s American Airlines. Managers hope to complete the merger without online reservation problems that others dealt with.

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