WEEK IN RE­VIEW

Houston Chronicle Sunday - - BUSINESS -

Mon­day 1% com­mis­sion for houses

Na­tional real es­tate bro­ker­age Redfin is cut­ting the com­mis­sion it charges to Hous­ton-area home sell­ers to 1 per­cent. The com­pany, which had al­ready rolled out a 1 per­cent com­mis­sion struc­ture in a hand­ful of cities, an­nounced that it was ex­pand­ing the pro­gram to 18 ad­di­tional mar­kets across the coun­try. Austin and Dallas are also in­cluded. Car­bon cap­ture push

Nor­way’s Sta­toil, France’s To­tal and the An­glo-Dutch oil ma­jor Royal Dutch Shell an­nounced plans to as­sem­ble a net­work of tech­nol­ogy and fa­cil­i­ties that will cap­ture and store car­bon bleed­ing out of in­dus­trial sites in Nor­way in an ef­fort to help mit­i­gate ris­ing tem­per­a­tures. Tesla pro­duc­tion lags

Af­ter Elon Musk un­veiled the Model 3 in July, the Tesla CEO set a goal of pro­duc­ing 1,500 Model 3s in the third quar­ter. But the com­pany said that it had pro­duced only 260 of the 1,500 in­tended sedans dur­ing that pe­riod. The com­pany at­trib­uted the lower out­put to pro­duc­tion is­sues. Tues­day Trucks, SUVs lead the way

The auto in­dus­try posted its first monthly sales gain of the year in Septem­ber, led by strong truck and SUV sales and the re­place­ment of cars de­stroyed by Hur­ri­cane Har­vey in Texas. One mis­take by one per­son

The Equifax data breach, which ex­posed the sen­si­tive per­sonal in­for­ma­tion of nearly 146 mil­lion Amer­i­cans, hap­pened be­cause of a mis­take by a sin­gle em­ployee, the credit re­port­ing com­pany’s for­mer chief ex­ec­u­tive told mem­bers of Congress. ‘You should be fired’

Chief ex­ec­u­tive Ti­mothy Sloan de­fended Wells Fargo against with­er­ing crit­i­cism from law­mak­ers that it has not done enough to re­form it­self since ad­mit­ting last year it had opened mil­lions of fake ac­counts cus­tomers didn’t want. “At best, you were in­com­pe­tent, and at worst, you were com­plicit,” Sen. El­iz­a­beth War­ren, D-Mass., told him. “Ei­ther way, you should be fired.” Higher hol­i­day spend­ing

Amer­i­cans are ex­pected to spend about $680 bil­lion this hol­i­day sea­son, mark­ing a 3.6 per­cent to 4 per­cent in­crease from last year’s $655.8 bil­lion, ac­cord­ing to es­ti­mates by the Na­tional Re­tail Fed­er­a­tion. Even as con­sumers spend more, Black Fri­day turnout has steadily de­clined in stores and on­line. Last year, 154 mil­lion Amer­i­cans shopped dur­ing Thanks­giv­ing week­end, mark­ing a 32 per­cent de­cline from 2011, ac­cord­ing to the Na­tional Re­tail Fed­er­a­tion. Stand­ing by the NFL An­heuser-Busch gave call­ers to its con­sumer hot­line the au­to­mated op­tion of leav­ing feed­back about its NFL cor­po­rate spon­sor­ship. The beer gi­ant, one of the NFL’s largest ad­ver­tis­ers, said it stood by its spon­sor­ship of the league. Wed­nes­day Fi­esta re­opens

Fi­esta Mart re­opened one of its stores hit hard­est by Hur­ri­cane Har­vey, bring­ing relief to a north Hous­ton neigh­bor­hood that has strug­gled to find af­ford­able food of good qual­ity close by af­ter the storm. The store at 9419 Mesa at Tid­well was dam­aged by flood­wa­ters and a leak­ing roof. Fees at port can be waived Port Hous­ton Ex­ec­u­tive Di­rec­tor Roger Guen­ther re­ceived author­ity to waive cer­tain charges for cargo-mov­ing cus­tomers af­fected by Hur­ri­cane Har­vey. If cus­tomers couldn’t get their prod­ucts out of port due to Har­vey and are ask­ing Port Hous­ton to waive stor­age fees or other tar­iff charges, Guen­ther now has the flex­i­bil­ity to con­sider those re­quests. Thurs­day Sweat­shirt crit­i­cized

As of late af­ter­noon, a hooded sweat­shirt that seems to make light of the po­ten­tially fa­tal eat­ing dis­or­der anorexia was still on Ama­zon’s web­site, de­spite land­ing the re­tail gi­ant in the cross hairs of con­sumer wrath. The sweat­shirt was be­ing of­fered by a third-party seller listed as Atur­oBurch. Tough pay­day lend­ing rules

The Con­sumer Fi­nan­cial Pro­tec­tion Bureau is­sued tough na­tion­wide reg­u­la­tions on pay­day loans and other short­term loans, aim­ing to pre­vent lenders from tak­ing ad­van­tage of cash-strapped Amer­i­cans. The long-awaited rules from would re­quire lenders in most cases to as­sess whether a con­sumer can re­pay the loan. Checks ar­rive in Alaska

Nearly ev­ery Alaskan woke up $1,100 richer, thanks to this year’s pay­out from the state’s oil wealth in­vest­ment fund. The distri­bu­tion from the Alaska Per­ma­nent Fund is es­sen­tially free money for res­i­dents. But it’s just half of the ex­pected $2,200 wind­fall, which was cut for the sec­ond straight year to help the state pay its bills. Fri­day Coal-fired plant to close

Vis­tra En­ergy said its 1,800-megawatt Mon­ti­cello power sta­tion east of Dallas will be clos­ing in Jan­uary, bring­ing the loss of 200 jobs. “The mar­ket’s un­prece­dented low power price en­vi­ron­ment has pro­foundly im­pacted its op­er­at­ing rev­enue and no longer sup­ports con­tin­ued in­vest­ment,” Vis­tra CEO Curt Mor­gan said. A warn­ing on NAFTA

The U.S. Cham­ber of Commerce warned the Trump ad­min­is­tra­tion that a with­drawal from NAFTA would be a “de­ba­cle” that would cost jobs.

Hous­ton Chron­i­cle file

Maria Vil­lar­real checks out Black Fri­day items at the Bass Pro Shops in Pear­land. Hol­i­day spend­ing is pro­jected to rise this year.

An­heuserBusch

Sloan

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