Business category, Page 199

Biden administration opens global climate summit

WASHINGTON — President Joe Biden opened a global climate summit Thursday with a pledge to cut at least in half the climate-wrecking coal and petroleum fumes that the U.S. pumps out, a commitment he hopes will spur China and other big polluters to speed up efforts of their own. Biden...
Stocks end higher on Wall Street after a day of steady gains

Technology companies and banks helped lift stocks on Wall Street broadly higher Wednesday, enabling the market to claw back some of its losses after a downbeat start to the week. The S&P 500 rose 0.9%, snapping a two-day slide. Most of the companies in the benchmark index rose, with technology,...
Foxconn deal with Wisconsin lowers tax breaks to $80 million

MADISON, Wis. — Foxconn Technology Group will be eligible for just $80 million in taxpayer subsidies under a new contract signed Tuesday, down from nearly $3 billion it could have received under the original deal that envisioned a much larger project in southeastern Wisconsin. Democratic Gov. Tony Evers, who ran...
Ex-Jack Daniel’s distiller to make new whiskey in Tennessee

NASHVILLE, Tenn. — The former top distiller at Jack Daniel’s announced on Tuesday that he and several partners are opening a new whiskey distillery near the Great Smoky Mountains in Tennessee. Company Distilling will first open a 4,000-square-foot tasting room and restaurant in Townsend, Tenn., former Jack Daniel’s master distiller...
Daily Mail owner files antitrust suit against Google in U.S.

The owner of the Daily Mail website, Associated Newspapers, is suing Google, saying the tech company’s dominance in online advertising has harmed its business. The suit, filed Monday in federal court in New York, says Google punishes publishers’ search results if they don’t sell enough ad space through Google and...
Polaroid launches the ‘smallest analog instant camera in the world’

Polaroid has announced the Polaroid Go, which it says is “the smallest analog instant camera in the world.” The camera is 4.1 inches long, 3.3 inches wide and 2.4 inches tall. The camera sells for $99.99 and is available today for pre-order and for sale on April 27. A two-pack...
Stocks close lower on Wall Street, led by tech and banks

Stocks fell for the second straight day Tuesday, giving up more of their recent gains as Wall Street shifts its focus on a busy week of corporate earnings reports. The S&P 500 fell 0.7%. The benchmark index has now lost nearly all of its gain from last week. Apple fell...
Venmo is into crypto, allowing users to buy Bitcoin, others

NEW YORK — Venmo will allow users to buy and sell cryptocurrencies on its app, the company said Tuesday, the latest mainstream financial platform to wade into alternative currency like Bitcoin. In addition to Bitcoin, Venmo has opened up the platform to Ethereum, Litecoin and Bitcoin Cash — generally considered...
Subaru recalls vehicles to fix engine, suspension problems

DETROIT — Subaru is recalling nearly 875,000 cars and SUVs in the U.S. because the engines can stall or a rear suspension part can fall off. The stalling recall covers more than 466,000 Crosstrek SUVs from 2018 and 2019 and Impreza cars from 2017 through 2019. The company says in...
Apple to host virtual iPad event, may hint at new AirPods

Many of us may be suffering from virtual event fatigue after a year of video calls. But not Apple, which plans new product announcements at what seems likely to be an iPhone-less online event on Tuesday. It’s the first such event for the company in 2021. Analysts expect new iPads...
John Dorfman: 4 small stocks that look like undiscovered gems

For a long time, academics and investors were convinced that small stocks outperform large ones. The theory was that small stocks, because they carry greater uncertainty, sell at a discount to large ones. Investors in the small fry are rewarded for taking extra risk. Proving the theory was difficult. Many...
Miners’ union backs shift from coal in exchange for jobsVideo

WASHINGTON — The nation’s largest coal miners’ union said Monday it would accept President Joe Biden’s plan to move away from coal and other fossil fuels in exchange for a “true energy transition” that includes thousands of jobs in renewable energy and spending on technology to make coal cleaner. Cecil...
Apple signals return of right-wing ‘free speech’ app Parler

Apple said it has reached an agreement with the right-wing social app Parler that could lead to its reinstatement in the company’s app store. Apple kicked out Parler in January over ties to the deadly Jan. 6 siege on the U.S. Capitol. In a letter to two Republican lawmakers in...
Stocks close lower, pulling indexes below record highs

Technology companies helped drag stocks broadly lower Monday, pulling the indexes below the record highs they reached last week. The S&P 500 dropped 0.5%, shedding more than a third of its gain from last week. Tech stocks were the biggest weight on the market, but the losses were shared broadly...
‘Britcoin’ digital currency being considered by U.K.

LONDON — British authorities are exploring the possibility of creating a new digital currency that Treasury chief Rishi Sunak indicated could become commonly known as “Britcoin.” The Bank of England and the Treasury said Monday that they will work together to assess the benefits of a central bank digital currency,...
The Hartford agrees to pay $650M in Boy Scouts bankruptcy

DOVER, Del. — Insurance company The Hartford has agree to pay $650 million into a proposed trust fund for victims of child sexual abuse as part of the Boy Scouts of America bankruptcy case. In exchange for the payment, the Boy Scouts and its local councils would release The Hartford...

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