Business category, Page 200
U.S. budget deficit jumps to record $1.7 trillion this year
WASHINGTON — The U.S. government’s budget deficit surged to an all-time high of $1.7 trillion for the first six months of this budget year, nearly double the previous record, as another round of economic-support checks added billions of dollars to spending last month. In its monthly budget report, the Treasury...
Drivers wanted: Record demand at Uber as vaccinations rise
Uber is offering sign-up bonuses and other incentives for drivers as it faces record demand for rides and meal delivery. The San Francisco ride-hailing company said Monday that total monthly bookings, including food delivery and passenger service, reached an all-time high in March. In a government filing, the company said...
Stocks end slightly below latest record highs as tech slips
Stock indexes gave up some of their recent gains Monday, pulling the S&P 500 slightly below the record high it hit last week. Technology, communication and energy stocks weighed on the market, outweighing gains by a broad mix of companies, including banks and those that rely directly on consumer spending,...
Business faces tricky path navigating post-Trump politics
WASHINGTON — For more than a half-century, the voice emerging from the U.S. Chamber of Commerce’s monolithic, Beaux Arts-styled building near the White House was predictable: It was the embodiment of American business and, more specifically, a shared set of interests with the Republican Party. The party’s bond with corporate...
ATI calls on Steelworkers union to let employees vote on contract offer
As a strike by the United Steelworkers union nears two weeks, Allegheny Technologies Inc. is calling on the union to allow employees to vote on the company’s contract offer. ATI spokeswoman Natalie Gillespie said details of the company’s proposal have not changed since March 29, the day before about 1,300...
Walmart eyes local companies as McDonald’s exits some stores
As McDonald’s works on closing some of its locations within Walmart stores, the retailer is looking to put local businesses and others into place. McDonald’s has gradually been closing locations at Walmart stores over the years but will keep a presence within about 150 Walmarts. Walmart spokeswoman Molly Blakeman said...
Tech companies help lift stocks, push S&P 500 to record high
Technology companies helped lift stocks higher on Wall Street in afternoon trading Friday, placing the market within striking distance of more record highs. The gains are in line with the market’s modest upward tack this week as investors weigh concerns about the virus tripping up a steady economic recovery against...
Amazon warehouse workers reject union bid in Alabama
Amazon workers voted against forming a union at a warehouse in Alabama, handing the online retail giant a decisive victory and cutting off a path that labor activists had hoped would lead to similar efforts throughout the company and beyond. After months of aggressive campaigning from both sides, 1,798 warehouse...
Florida sues federal government to allow cruises to sailVideo
MIAMI — The state of Florida has filed a lawsuit against the federal government to demand cruise ships be allowed to start sailing immediately, Gov. Ron DeSantis announced Thursday. DeSantis said the no-sail order is outdated and hurts the state as the industry generates billions for the economy and employs...
Fed’s Jerome Powell: U.S. nears full reopening to ‘different economy’Video
WASHINGTON — The U.S. economy, boosted by quickening vaccinations and signs of rapid hiring, is headed toward a strong recovery, Federal Reserve Chair Jerome Powell said Thursday. But he cautioned that not all will immediately benefit. “There are a number of factors that are coming together to support a brighter...
State College construction firm accused of stealing $20 million from workers
HARRISBURG — A major Pennsylvania construction contractor was charged Thursday with stealing tens of millions of dollars from its own workers by systematically violating state and federal prevailing wage laws on taxpayer-funded public infrastructure projects. Glenn O. Hawbaker Inc. of State College, a 70-year-old company that booked $1.7 billion in...
Stocks rise as lower bond yields help lift tech companies
Technology companies led stocks to more gains Thursday on Wall Street, nudging the S&P 500 to an all-time high for the third time this week. The benchmark index rose 0.4% and is on track for its third straight weekly gain. Stocks within the S&P 500 were about evenly split between...
2 new airlines await Americans looking to fly somewhere
Americans are traveling in the greatest numbers in more than a year, and soon they will have two new leisure-oriented airlines to consider for those trips. Both hope to draw passengers by filling in smaller strands on the spider web of airline routes crisscrossing the United States. Avelo Airlines said...
Stocks close mixed; S&P 500 notches another record high
Wall Street capped another choppy day of trading Wednesday with a mixed finish for stock indexes and another all-time high for the S&P 500. The benchmark index inched up 0.1% after spending much of the day wavering between small gains and losses. Technology, communication and financial companies helped lift the...
U.S. trade deficit jumps 4.8% to $71.1 billion in February
The U.S. trade deficit grew to a record $71.1 billion in February as a decline in exports more than offset a slight dip in imports, with severe weather taking much of the blame from analysts, who were expecting a slightly lower gap. The coronavirus pandemic has stifled global trade for...
U.S. Treasury says 156 million coronavirus relief payments issued
WASHINGTON — The Treasury Department said Wednesday it has issued more than 156 million payments as part of President Joe Biden’s coronavirus relief plan, including 25 million payments that were primarily to Social Security beneficiaries who hadn’t filed 2019 or 2020 tax returns. The direct payments of as much as...
Target to spend over $2 billion on Black-owned businesses
NEW YORK — Target will spend a total of more than $2 billion at Black-owned businesses by 2025 as part of its effort to advance racial equity. That’s a significant increase in overall spending on Black-owned businesses, according to Target, though it declined be more specific Wednesday. The Minneapolis retailer...
Heinz plans to up packet production as restaurants experience ketchup shortage
This pandemic-related shortage is hitting close to home. Restaurants and fast-food chains are experiencing shortages of ketchup as calls for takeout and delivery have increased and local brand Heinz, which has the “highest market share” of the condiment, has been hit the hardest, according to the Wall Street Journal. Data...
Stocks slip on Wall Street as market eases back from records
A wobbly day of trading on Wall Street left stocks slightly lower Tuesday, pulling the market back from the all-time highs it reached a day earlier. The S&P 500 snapped a three-day winning streak, slipping 0.1% after wavering between small gains and losses much of the afternoon. Stocks within the...
John Dorfman: Knocked down, these 3 stocks may rise again
When stocks are punished, it’s not always for a good reason. That’s why I compile a quarterly Casualty List of stocks that have been banged up in the latest quarter and which I think have the potential to provide above-average gains. On the whole, the Casualty List has been successful....
Target launches car seat trade-in promotion
After happening just once last year, Target returns with their car seat trade-in promotion. Starting on Monday, the company will take back children car seats — including old and expired seats — at Target stores and give customers a 20% coupon good for a new car seat, car seat base,...
Yellen calls for minimum global corporate income tax
WASHINGTON — U.S. Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to offset any disadvantages that might arise from the Biden administration’s proposed increase in the U.S. corporate tax rate. Citing a “thirty-year race to the bottom” in which countries...
Have an idea to improve masks? Biden administration holds $500K contest
President Joe Biden’s administration is looking for ways to improve face masks — and will give out $500,000 in prizes to help do it. The Mask Innovation Challenge invites Americans to submit ideas to make masks more comfortable to wear and to eliminate “barriers to use,” such as discomfort, contact...
Some businesses want masks on, even as states drop mandates
NEW YORK — Although Texas no longer requires people to wear masks to protect against covid-19, customers do need them to enter De J. Lozada’s store. “We cannot afford to take chances with the lives of my staffers. They’re young people and their parents have entrusted me with their care,”...
Stocks close broadly higher after big job gains in March
Stocks on Wall Street notched broad gains Monday as investors welcomed more signs that the economy is on the path to recovery, The S&P 500 rose 1.4% to an all-time high after closing above the 4,000-point mark for the first time last Thursday. The Dow Jones Industrial Average also set...
