Business category, Page 168
News Corp says it was hacked; believed to be linked to China
News Corp, publisher of The Wall Street Journal, said Friday that it had been hacked and had data stolen from journalists and other employees, and a cybersecurity firm investigating the intrusion said Chinese intelligence-gathering was believed behind the operation. The news company, whose publications and businesses include the New York...
House to vote on bill to boost U.S. computer chip production
House Democrats are poised to approve legislation Friday that they say positions the United States to better compete with China economically and on the global stage by strengthening the domestic semiconductor industry, shoring up strained supply chains and bolstering international alliances. Criticizing China has become a bipartisan playbook in Washington,...
U.S. employers shrug off omicron, add 467,000 jobs in January
U.S. employers added a burst of 467,000 jobs in January despite a wave of omicron infections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed. The government’s report Friday also drastically revised up its estimate of job gains for November and...
Amazon to increase cost of Prime; annual sales rise 22%Video
Amazon is increasing the cost of its Prime membership for U.S. customers, in part to offset rising expenses associated with wages and transportation, the company announced ahead of its quarterly earnings call Thursday. The monthly fee for Prime membership will go up from $12.99 to $14.99, and the annual membership...
A plunge in Facebook’s parent company weighs on tech stocksVideo
A historic plunge in the stock price of Facebook’s parent company helped yank other tech stocks lower on Wall Street Thursday, abruptly ending a four-day winning streak for the market. The 26.4% wipeout in Meta Platforms, as Facebook’s owner is now known, erased more than $230 billion in market value,...
Tesla recalls over 800K vehicles for seat belt chime problem
DETROIT — Tesla is recalling more than 817,000 vehicles in the U.S. because the seat belt reminder chimes may not sound when the vehicles are started and the driver hasn’t buckled up. The recall covers the 2021 and 2022 Model S sedan and Model X SUV, as well as the...
Bank of England hikes interest rates again as prices surge
LONDON — The Bank of England raised interest rates for the second time in three months on Thursday, putting the United Kingdom far ahead of the rest of Europe and the U.S. in moving to tame surging inflation that is squeezing consumers and businesses. The bank’s monetary policy committee voted...
Stocks rise on Wall Street, extending their weekly gainsVideo
Another wobbly day of trading on Wall Street ended with more gains for stocks Wednesday, as the latest batch of company earnings reports kept investors in a buying mood. The S&P 500 rose 0.9% after having briefly dipped into the red in the early going. The Dow Jones Industrial Average...
As omicron peak passes, airfares surge for spring, summer travel
The covid-19 era of cheap flights is swiftly coming to an end, and travel firms are seeing signs that airfares likely will reach 2019 pre-pandemic levels as soon as April. With the worst of the omicron variant waning across the country, airlines struggling to ramp up flight schedules are set...
As omicron peak passes, airfares surging for spring and summer travel
The covid-19 era of cheap flights is swiftly coming to an end, and travel firms are seeing signs that airfares will likely reach 2019 pre-pandemic levels as soon as April. With the wost of the omicron variant waning across the country, airlines struggling to ramp up flight schedules are set...
Michigan plans 1st U.S. electric vehicle charging road by 2023
Electric vehicles driving in Detroit could increase their charge by using an in-road charging system by 2023, Michigan Gov. Gretchen Whitmer’s office announced Tuesday. In 2021, Whitmer announced the state’s plan to build the first electric vehicle charging road in the U.S. The contract to build it was awarded to...
Why more musicians haven’t joined Neil Young’s Spotify boycott over Joe Rogan
For those following certain parts of Twitter during the last week, it would have been easy to come away with the impression that Spotify was facing a mass exodus of artists protesting covid-19 vaccine misinformation on Joe Rogan’s immensely popular podcast. When Neil Young pulled his music from the Swedish...
John Dorfman: Catching falling knives: Jim Cramer’s picks and my own
Jim Cramer is one of the most controversial stock-market pundits and one of the most widely followed. He hosts the “Mad Money” segment on CNBC television and founded The Street.com, a popular financial website. On Jan. 28, Cramer recommended a few stocks that have fallen sharply in this year’s stock-market...
New York Times buys viral word game Wordle
NEW YORK — The New York Times said on Monday that it has bought Wordle, the free online word game that has exploded in popularity and, for some, become a daily obsession. It listed the purchase price as being in the “low-seven figures,” but did not disclose specifics. The Times,...
EPA restores rule to limit power-plant mercury emissions
WASHINGTON — In a reversal of a Trump-era action, the Environmental Protection Agency said Monday it will resume enforcement of a rule that limits power plant emissions of mercury and other hazardous pollutants. The EPA action restores a rule imposed under President Barack Obama and continues a practice in which...
Trib Total Media CEO to testify before Senate subcommittee on newspaper industry challenges
Trib Total Media President and CEO Jennifer Bertetto will testify Wednesday before a U.S. Senate Judiciary subcommittee on challenges facing the newspaper industry. Bertetto will address the Subcommittee on Competition Policy, Antitrust and Consumer Rights, headed by U.S. Sen. Amy Klobuchar, D-Minn. The hearing is related to proposed legislation aiming...
Stocks end higher, still log worst month since March 2020
NEW YORK — Stocks notched broad gains Monday, but still posted their worst monthly loss since the early days of the pandemic, as Wall Street closes a tumultuous January wracked by worries that imminent interest-rate hikes will make everything in markets more challenging. The S&P 500 came back from an...
Spotify to add advisories to podcasts discussing covid-19
NEW YORK — As a result of protests of Spotify kicked off by Neil Young over the spread of covid-19 vaccine misinformation, the music streaming service said that it will add content advisories before podcasts discussing the virus. In a post Sunday, Spotify chief executive Daniel Ek laid out more...
Prince Harry, Meghan express ‘concerns’ over covid-19 misinformation on Spotify
The Duke and Duchess of Sussex have “concerns” about how Spotify has allowed and promoted the spread of covid-19 misinformation on its platform. Prince Harry and Meghan, who inked an exclusive multiyear partnership with the service in December 2020, said Sunday that they are pressing Spotify to take more care...
Economy grew 5.7% in 2021 in rebound from 2020 recessionVideo
WASHINGTON — The U.S. economy grew last year at the fastest pace since Ronald Reagan’s presidency, bouncing back with resilience from 2020’s brief but devastating coronavirus recession. The nation’s gross domestic product — its total output of goods and services — expanded 5.7% in 2021. It was the strongest calendar-year...
Hot streak: Nevada casinos win record $13.4 billion in 2021
LAS VEGAS — Nevada casinos continued a hot streak in December, tallying a 10th straight month of $1 billion or more in house winnings and propelling end-of-year figures to a record $13.4 billion. A Nevada Gaming Control Board report released Thursday provided more evidence that gambling recovered last year after...
Pa. to spend $225M to retain, recruit hospital nurses, provide loan debt relief
Local hospital and nursing school officials hope $225 million in federal money being allocated to retain and recruit nursing staff in Pennsylvania, as well as provide debt relief to nursing students, is a step toward reducing a critical shortage in the profession. “Over the past year, we have been providing...
Southwest posts $68 million 4Q profit, expects higher costs
DALLAS — Southwest Airlines posted a narrow $68 million profit for the fourth quarter, aided by full flights during the holidays, but the airline warned Thursday that it expects to lose money in the first three months of 2022. The rise of the omicron variant of covid-19, along with a...
Stocks fall, yields rise after Fed signals rate hike ‘soon’
An early rally on Wall Street gave way to a broad slide for stocks and a surge in bond yields Wednesday after the Federal Reserve signaled it plans to begin raising interest rates “soon” to fight a spike in inflation that the central bank says is probably getting worse. The...
Traded cryptocurrency in 2021? Here’s how to approach taxes
Professionals have a major piece of advice for those who traded cryptocurrency for the first time last year: Take your tax prep seriously. The IRS has been zooming in on cryptocurrency reporting with increasing interest in recent years. And the last thing you want is to lose money and time...
