Business category, Page 210
Budweiser joins Coke, Pepsi brands in sitting out Super Bowl
NEW YORK — For the first time since 1983, when Anheuser-Busch used all of its ad time to introduce a beer called Bud Light, the beer giant isn’t advertising its iconic Budweiser brand during the Super Bowl. Instead, it’s donating the money it would have spent on the ad to...
Britain’s Boris Johnson presses Biden for new trade deal
WASHINGTON — British Prime Minister Boris Johnson made clear to President Joe Biden on Saturday that he’s eager to forge a new U.S.-U.K. trade deal. The push for a new deal came in a broad-ranging call between the two leaders that touched on the global response to the coronavirus pandemic...
Pennsylvania casinos saw revenue drop by $759 million in 2020, state reports
Pennsylvania casinos saw total revenues decrease by $759 million in 2020, a year plagued by the coronavirus pandemic that forced the properties to shutter for several months. According to a new report from the Pennsylvania Gaming Control Board, $2.65 billion was generated last year from the state’s 13 casinos through...
Google threatens to pull search engine in Australia
WELLINGTON, New Zealand — Google on Friday threatened to make its search engine unavailable in Australia if the government went ahead with plans to make tech giants pay for news content. Australian Prime Minister Scott Morrison quickly hit back, saying “we don’t respond to threats.” “Australia makes our rules for...
Stocks slip on Wall Street as worldwide rally takes a pause
NEW YORK — Wall Street is tapping the brakes on its record-setting rally this week, as markets worldwide take a pause on Friday. The S&P 500 was 0.1% lower in afternoon trading, a day after inching up to its second straight all-time high. The Dow Jones Industrial Average was down...
Stocks drift to mixed close; S&P 500 ekes out another record
NEW YORK — Stock indexes capped a day of choppy trading with a mixed finish Thursday, though solid gains by technology companies helped lift the S&P 500 and Nasdaq composite to more record highs. The S&P 500 edged up less than 0.1%. Traders bid up shares in Big Tech stocks,...
U.S. jobless claims decline to a still-high 900,000
WASHINGTON — Fewer Americans applied for unemployment benefits last week, lowering claims to 900,000, still a historically high level that points to further job cuts in a raging pandemic. The Labor Department’s report Thursday underscored that President Joe Biden has inherited an economy that faltered this winter as virus cases...
Amazon offers assist with U.S. covid vaccine distribution
SEATTLE — Amazon is offering its colossal operations network and advanced technologies to assist President Joe Biden in his vow to get 100 million covid-19 vaccinations to Americans in his first 100 days in office. “We are prepared to leverage our operations, information technology, and communications capabilities and expertise to...
NRA says it is ‘not afraid’ of New York lawsuit, will continue fight
The National Rifle Association of America is “not afraid” of a lawsuit threatening it with dissolution in New York and is prepared to proceed with the legal battle despite its bankruptcy filing, a lawyer for the group said in court. The gun rights group is “not in any way attempting...
Wall Street hits records as hopes build for more stimulus
NEW YORK — Wall Street marked the dawn of President Joe Biden’s administration with stocks rallying to record highs as hopes build that new leadership in Washington will mean more support for the struggling U.S. economy. The S&P 500 rose 1.4%, topping its previous all-time high set earlier this month....
GM teams up with Microsoft on driverless cars
SILVER SPRING, Md. — General Motors is teaming up with Microsoft to accelerate its rollout of electric, self-driving cars. In the partnership announced Tuesday, the companies said Microsoft’s Azure cloud and edge computing platform would be used to “commercialize its unique autonomous vehicle solutions at scale.” Microsoft joins General Motors,...
Wall Street’s momentum swings back as stocks, yields tick up
Wall Street kicked off a holiday-shortened week with broad gains for stocks Tuesday, as the market recovered most of its losses from last week. The S&P 500 gained 0.8%, pulling to within 1% of its record high set earlier this month. About 60% of the companies in the benchmark index...
Stores drop MyPillow after CEO pushes election conspiracies
The founder of MyPillow, a vocal and in the past few weeks very visible supporter of President Donald Trump, says a backlash against the company has begun after a mob stormed the U.S. Capitol this month. Mike Lindell, the company CEO and also the face of the brand, said major...
Western Union bringing money transfer system to Walmart
Walmart customers will soon be able to use Western Union’s money transfer services at locations across the United States. Walmart announced today that Western Union’s services in its stores will include domestic and international money transfers, bill payments and money orders. Services will be offered at more than 4,700 Walmart...
Homebuilders hit a downdraft, land on Casualty List
Not every stock that gets whacked deserves it. Stocks may fall because of bad news that’s real but temporary. They may fall because a company sacrifices short-term profits for long-term benefits. They may fall because investors, moving as a herd, take a dislike to a particular industry. That’s why I...
Canada urges Biden not to cancel Keystone XL pipeline on first day
TORONTO — Top officials in Canada want a chance to make the case for a long disputed oil pipeline to be built amid reports President-elect Joe Biden will cancel Keystone XL. Alberta Premier Jason Kenney said Monday he will seek legal damages if reports are true that Biden plans to...
Stocks fall as economy’s pain deepens, head for weekly loss
NEW YORK — Stocks are pulling lower on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline. The S&P 500 was down 0.5% in afternoon trading, with stocks of companies that most need a healthier economy taking the...
Retail federation: Holiday sales up 8.3% amid big spending shift
NEW YORK — The nation’s largest retail trade group said Friday that holiday sales soared 8.3%, far exceeding its forecast even as the coronavirus kept shoppers away from physical stores. The National Retail Federation had expected growth in a range of 3.6% to 5.2% for the November and December period...
Toyota fined for failing to report, fix emissions defects
DETROIT — Toyota will pay $180 million to settle U.S. government allegations that it failed to report pollution control system defects in its vehicles for a decade. The company also agreed in court to investigate emissions-related defects quickly and report them to the U.S. Environmental Protection Agency in a timely...
5 things to know about your covid stimulus check
The $600 stimulus checks approved by Congress and President Trump last month were meant to provide much-needed economic relief to Americans battered by the coronavirus pandemic. Most already have received their money, but technical glitches and administrative challenges left millions wondering when theirs would arrive. Here’s what you need to...
U.S. unemployment claims jump to 965,000 as virus takes toll
WASHINGTON — The number of people seeking unemployment aid soared last week to 965,000, the most since late August and evidence that the resurgent virus has caused a spike in layoffs. The latest figures for jobless claims, issued Thursday by the Labor Department, remain at levels never seen until the...
Delta posts $12 billion loss in 2020, cautious 1Q outlook
Delta Air Lines closed the books on a disastrous 2020 with a comparatively small fourth-quarter loss, and executives expect a few more rocky months before — they hope — widespread coronavirus vaccinations and testing might salvage something of the upcoming summer travel season. Delta on Thursday reported a $755 million...
Wall Street drifts, as even Treasury yields slow their rise
NEW YORK — U.S. stocks are drifting Wednesday as Wall Street continues a pause from its big recent rally, and even Treasury yields are stalling following their rapid rise. The S&P 500 was 0.3% higher after flipping between small gains and losses in early trading. It remains close to its...
Amazon seeks to keep conservative app Parler offline
SEATTLE — Seattle-based Amazon has asked a federal judge to deny a request to reinstate the cloud-service account for conservative social media network Parler, claiming Parler shrugged off police violence content on its site before and after the insurrection at the U.S. Capitol. Amazon’s lawyers made the claim Tuesday, a...
Target continues to thrive in whirlwind retail environment
NEW YORK — Target’s strong sales streak extended through a pandemic-shrouded holiday season after a hard push online and an increased effort to provide alternatives to customers who are trying to minimize risk. The retailer reported Wednesday that online sales surged 102% between November and December. Sales at its stores...
