Business category, Page 151
Sheetz lowers price for unleaded 88 to $1.99 a gallon for Thanksgiving week
Sheetz convenience stores will sell unleaded 88 gas for $1.99 a gallon during the Thanksgiving 2022 weekend. The deal is available at Sheetz locations that have unleaded 88. The deal is good from Nov. 21 to Nov. 28. According to Sheetz, unleaded 88 fuel is approved by the U.S. Environmental...
Carriers feeling cheery about on-time holiday deliveries
The nation’s major shipping companies are in the best shape to get holiday shoppers’ packages delivered on time since the start of the pandemic, suggesting a return to normalcy. Carriers like the U.S. Postal Service, FedEx and United Parcel Service project to have enough capacity after struggling under the holiday...
Big rail unions split on contract with engineers ratifying
OMAHA, Neb. — Railroad engineers accepted their deal with the railroads that will deliver 24% raises but conductors rejected theirs, threatening the health of the economy just before the holidays and casting more doubt on whether the industry will be able to resolve the labor dispute before next month’s deadline...
Musk restores Trump’s Twitter account after online poll
LOS ANGELES — Elon Musk reinstated Donald Trump’s account on Twitter on Saturday, reversing a ban that has kept the former president off the social media site since a pro-Trump mob attacked the U.S. Capitol on Jan. 6, 2021, as Congress was poised to certify Joe Biden’s election victory. Musk...
U.S. home sales fell in October for 9th straight month
Sales of previously occupied U.S. homes fell in October for the ninth consecutive month to the slowest pre-pandemic sales pace in more than 10 years as homebuyers grappled with sharply higher mortgage rates, rising home prices and fewer properties on the market. Existing home sales fell 5.9% last month from...
More Twitter workers flee after Musk’s ‘hardcore’ ultimatum
Twitter continued to bleed engineers and other workers after new owner Elon Musk gave them a choice to pledge to “extremely hardcore” work or resign with severance pay. While it’s not clear exactly how many of Twitter’s already-decimated staff took Musk up on his offer, the newest round of departures...
Wall Street opens higher but is still headed for weekly loss
NEW YORK — Stocks are opening higher on Wall Street but are still heading for losses for the week after several days of bumpy trading. Several retailers were posting big gains in the early going Friday after reporting surprisingly strong quarterly results. Gap, Ross Stores and Foot Locker all rose...
Sale of beer with alcohol banned at World Cup stadiums
DOHA, Qatar — The sale of all beer with alcohol at the eight World Cup stadiums was banned Friday, only two days before the soccer tournament is set to start. Non-alcoholic beer will still be sold at the 64 matches in the country. “Following discussions between host country authorities and...
More Twitter workers flee after Elon Musk’s ‘hardcore’ ultimatum
Twitter continued to bleed engineers and other workers on Thursday, after new owner Elon Musk gave them a choice to pledge to “hardcore” work or resign with severance pay. Some took to Twitter to announce they were signing off after Musk’s deadline to make the pledge. A number of employees...
Exec who cleaned up Enron calls FTX mess ‘unprecedented’
NEW YORK — The man who had to clean up the mess at Enron says the situation at FTX is even worse, describing what he calls a “complete failure” of corporate control. The filing by John Ray III, the new CEO of the bankrupt cryptocurrency firm, lays out a damning...
Stocks fall as Fed signals rates need to go still higher
Stocks closed lower on Wall Street and Treasury yields rose Thursday afternoon after more indications from the Federal Reserve that it may need to raise interest rates much higher than many people expect to get inflation under control. The S&P 500 fell 0.3%, with retailers and banks among the biggest...
Starbucks workers strike at more than 100 stores
Starbucks workers at more than 100 U.S. stores are on strike Thursday in their largest labor action since a campaign to unionize the company’s stores began late last year. The walkouts coincide with Starbucks’ annual Red Cup Day, when the company gives free reusable cups to customers who order a...
Musk says he expects to find a new Twitter CEO ‘over time’
NEW YORK — Billionaire Elon Musk, who just took over as the chief executive at Twitter after buying the company, said he does not want to be the CEO of any company. Musk took the witness stand Wednesday in a Delaware court to defend himself in a shareholder lawsuit challenging...
Shell cracker plant begins operation in Beaver County
After years of construction, the energy giant Shell announced Tuesday that its ethane cracker plant in Beaver County has commenced operations. The plant, which refines natural gas into plastic pellets, is one of the largest of its kind in the country. It is the first major polyethylene manufacturing complex in...
John Dorfman: Capital One, Kelly Services selling below book value
People can argue all day about whether book value is a good gauge of a stock’s value. I say it is, and I believe the results from this column tend to prove it. Book value is a company’s net worth – the sum of its assets minus its liabilities. It...
Stocks rise on cooling inflation data after up-and-down dayVideo
NEW YORK — Stocks rose on Wall Street Tuesday following more signs the nation’s punishingly high inflation may be falling off faster than expected. The S&P 500 climbed 0.9%, or 34.48 points, to 3,991.73, though it went on another unsettling ride to get there. A flare-up of worries about the...
Stocks gain ground after wholesale inflation eases in U.S.
NEW YORK — Stocks rose broadly in morning trading on Wall Street Tuesday after the government reported another decline in the pace of wholesale price inflation last month, the latest glimpse of hope that inflationary pressures in the U.S. might be easing. The S&P 500 index rose 1.5% as of...
Amazon plans new virtual care offering based on messaging
Amazon is stepping back into virtual care with a new service that uses secure messaging to connect patients with doctors for help with nearly two dozen conditions. The retail giant said Tuesday it will launch “Amazon Clinic” in 32 states to provide medication refills and care for conditions like allergies,...
Walmart offers to pay $3.1 billion to settle opioid lawsuits
Retail giant Walmart on Tuesday become the latest major player in the drug industry to announce a plan to settle lawsuits filed by state and local governments over the toll of powerful prescription opioids sold at its pharmacies with state and local governments across the U.S. The $3.1 billion proposal...
Jeff Bezos says he will give away most of his fortuneVideo
NEW YORK — Amazon founder Jeff Bezos said he will give away the majority of his wealth during his lifetime, becoming the latest billionaire to pledge to donate much of his vast fortune. Bezos, whose “real-time” worth Forbes magazine estimates at roughly $124.1 billion, made the announcement in a joint...
Antitrust battle over iPhone app store goes to appeals court
SAN FRANCISCO — Apple is heading into a courtroom faceoff against the company behind the popular Fortnite video game, reviving a high-stakes antitrust battle over whether the digital fortress shielding the iPhone’s app store illegally enriches the world’s most valuable company while stifling competition. Oral arguments Monday before three judges...
Sam Bankman-Fried’s downfall sends shockwaves through crypto
NEW YORK — Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world’s first trillionaire. Now the comments about the 30-year-old Bankman-Fried range from bemused to hostile after...
Funds vanish at bankrupt crypto exchange FTX; probe underway
NEW YORK — Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday. The embattled company’s new CEO John Ray III said Saturday that FTX is switching off the ability to trade or withdraw funds and...
Wall Street rallies for best week since June on rate hopes
NEW YORK — Wall Street piled more gains Friday onto its mammoth rally from a day earlier to close out its best week since the summer. The S&P 500 rose 0.9% a day after soaring 5.5% for its best day in more than two years. The Dow Jones Industrial Average...
Elon Musk ends remote work at Twitter, warns of troubles aheadVideo
Elon Musk has emailed Twitter employees, most working remotely, ordering them to return to the office immediately for at least 40 hours a week and warning of “difficult times ahead.” A pair of Wednesday night missives seen by The Associated Press marked Musk’s first companywide message to employees who survived...
