Business category, Page 195
Board fight at Exxon intensifies spotlight on climate change
NEW YORK — ExxonMobil is facing a major challenge from a group of investors in one of the biggest fights a corporate boardroom has endured over its stance on climate change, an issue of rising urgency for many shareholders. The investor group is pushing to replace four of the oil...
D.C. files antitrust case vs Amazon over treatment of vendors
The District of Columbia has sued Amazon, accusing the online retail giant of anticompetitive practices in its treatment of sellers on its platform. The practices have raised prices for consumers and stifled innovation and choice in the online retail market, the D.C. attorney general alleges in an antitrust suit. The...
John Dorfman: 6 stocks I would shun
Wall Street issues about eight buy recommendations for every sell recommendation. But at times, knowing when to sell is the most important skill in the stock market. Here are six stocks I think you should sell now, if you own them. If you don’t own them, I’d avoid them. And...
Pa. to resume job search requirement for unemployment benefits
Beginning July 18, Pennsylvania’s unemployed workers again will have to prove they applied for two jobs per week to continue to receive jobless benefits, a state labor official said Monday. Unemployed workers also must register for job search services with the PA CareerLink offices. The requirements were suspended last year...
Peloton plans to build 1st U.S. factory in Ohio, add 2K jobs
Peloton plans to spend about $400 million to build its first U.S. factory in Ohio. The exercise equipment maker said Monday that the Peloton Output Park will make the Peloton Bike, Bike+ and Peloton Tread starting in 2023. It will have more than 200 acres and more than 1 million...
Stocks climb on Wall Street as appetite for risk returns
Stocks closed higher Monday on Wall Street, and the broad rally helped the S&P 500 claw back more than half of its losses over the past two weeks. The benchmark index rose 1%, led by solid gains in technology and communication companies such as Microsoft, Google’s parent company, Facebook and...
Stocks end a wobbly day mixed; S&P 500 posts a weekly loss
Wall Street racked up more losses Friday on a choppy day of trading that left the major indexes mixed and the S&P 500 with its second straight weekly decline. The S&P 500 ended 0.1% lower after having been up 0.7% in the early going. The benchmark index, which hit an...
Ford CEO says U.S. needs to regulate automated driving systems
DETROIT — The CEO of America’s second-largest auto company is calling for the federal government to set standards for fully or partially automated vehicles to tighten the safety of electronic driving systems. In urging federal regulation, Ford CEO Jim Farley becomes the highest-profile auto executive to publicly recognize a need...
Warm welcome for oat milk maker Oatly in Wall Street debut
Oatly, the world’s largest oat milk company, raised $1.4 billion in an initial public offering Thursday on the Nasdaq stock exchange, capitalizing on a global surge in demand for its products. Oatly priced its shares at $17 apiece ahead of the IPO, giving the company a valuation of nearly $10...
Kia recalls vehicles a 2nd time, warns owners to park outside
DETROIT — Kia is recalling more than 440,000 cars and SUVs in the U.S. for a second time to fix a problem that can cause engine fires. And the automaker is telling owners to park them outdoors and away from structures because fires could happen when the engines aren’t running....
Stocks end higher on Wall Street, breaking a 3-day slump
Technology companies led broad gains for stocks on Wall Street Thursday, ending a three-day losing streak for major U.S. indexes. Investors were encouraged by the latest jobs data that showed fewer Americans filing for unemployment benefits, another sign that the economic recovery is underway. The S&P 500 gained 1.1%. The...
Stocks fall for a 3rd straight day; Bitcoin sinks after a wild ride
Wall Street racked up more losses Wednesday as the stock market pulled back for the third straight day. The broad sell-off went beyond stocks, with the price of Bitcoin and other cryptocurrencies falling sharply. The S&P 500 index dropped 0.3% after recovering from a 1.6% slide earlier in the day....
Report: Colonial confirms it paid $4.4M to pipeline hackers
The operator of the nation’s largest fuel pipeline confirmed it paid $4.4 million to a gang of hackers who broke into its computer systems, according to a report Wednesday from the Wall Street Journal. Colonial Pipeline’s CEO, Joseph Blount, told the Journal he authorized the payment after the May 7...
How to ease out of mortgage forbearance, avoid foreclosure
American homeowners were given more opportunity to hit pause on their mortgage payments because of the financial ravages of the pandemic, but that relief is slowly coming to an end. About 3 million people are behind on their mortgage, the most at any time since the Great Recession, according to...
Airline passengers may soon get weighed before boarding flight
Passengers boarding an airplane may soon be asked to step on a scale to measure their weight before the flight, according to a report by View from the Wing. The preboarding weight check would come in order to comply with FAA rules. According to the report, the calculations airlines have...
A late drop leaves Wall Street indexes lower, led by techVideo
Stocks closed lower Tuesday on Wall Street as a late-afternoon sell-off in technology companies helped nudge stock indexes into the red for the second straight day. The S&P 500 lost 0.9%, with most of the pullback coming in the last hour of trading. Apple, Facebook and Google’s parent company all...
Walmart sales still boom as pandemic eases, stimulus helps
NEW YORK — Walmart blew past Wall Street projections in the first quarter with U.S. stimulus payments to Americans helping to boost sales and the company raised its expectations for the year. Sales at stores opened at least a year rose 6%, slowing from the 8.6% increase during the fiscal...
John Dorfman: Regeneron, Weis Markets head up the Do Nothing Club
Stocks that soar or plunge get all the attention. But sometimes the best buys are in stocks that have done nothing for a while. That’s why, each year around this time, I write about my Do Nothing Club. Members of this club are stocks that are not far from where...
Target, CVS latest to permit customers to go maskless
NEW YORK — Target and CVS are the latest retailers to no longer require vaccinated shoppers or workers to wear a mask in its stores. “Given the (Centers for Disease Control and Prevention)’s updated guidance, Target no longer requires fully vaccinated guests and team members to wear face coverings in...
EU, U.S. agree to temporarily suspend tariffs in steel dispute
BRUSSELS — The European Union and the United States on Monday decided to temporarily suspend measures at the heart of a steel tariff dispute that is seen as one of the major trade issues dividing the two sides. With the decision, “we are walking the talk in our efforts to...
Stocks fall in morning trading on Wall Street as tech lags
Stocks fell in morning trading on Wall Street Monday as the market comes off of its worst weekly decline since February. Big Tech stocks were the heaviest weights pulling the major indexes lower. The sector has been responsible for big swings in either direction over the last few weeks as...
Oprah and CNN: AT&T is merging media business with DiscoveryVideo
NEW YORK — The merger of Discovery and AT&T’s WarnerMedia operations, marrying the likes of HBO and CNN with HGTV and Oprah Winfrey, is another illustration of the head-spinning speed in which streaming has transformed the media world. The companies are essentially placing a $43 billion bet that they’ll still...
Report: Microsoft investigated Bill Gates before he left board
NEW YORK — Board members at Microsoft Corp. made a decision in 2020 that it wasn’t appropriate for its co-founder Bill Gates to continue sitting on its board as they investigated the billionaire’s prior romantic relationship with a female Microsoft employee that was deemed inappropriate, according to a report in...
Help wanted: Western Pa. businesses hurting from lack of worker interest to fill open jobs
Dino’s Sports Lounge is in the same boat as so many other employers — competing to attract workers in a market made all the harder by covid-19 and an extra $300 a week in benefits being pocketed by eligible jobless workers. “I can’t get people to apply,” said Dino DeCario,...
Is extra $300 in federal unemployment assistance stopping people from applying for jobs?
With about 56,000 people in Allegheny and Westmoreland counties reporting they are without a job, businesses still find themselves scrambling to fill vacancies. One reason cited for the challenge is the extra $300 a week in federal Pandemic Emergency Unemployment Assistance that people have collected since the end of December....
