Business category, Page 262
Manufacturing sinks to decade-low, stoking economic fearVideo
WASHINGTON — U.S. factory activity hit a decade low last month in the face of President Donald Trump’s trade conflicts, adding to a weakening picture of the global economy. The Institute for Supply Management, an association of purchasing managers, said Tuesday that its manufacturing index shrank for a second straight...
US Steel buys $700M stake in Arkansas-based Big River Steel
LITTLE ROCK, Ark. — United States Steel Corporation is buying a minority stake in an Arkansas-based steel company for $700 million. Big River Steel of Osceola announced Tuesday it had entered into an agreement with the Pittsburgh-based steel company. Under the agreement, U.S. Steel will hold a 49.9% ownership interest...
UPS gets government approval to become a drone airline
DALLAS — UPS has won government approval to operate a nationwide fleet of drones, which will let the company expand deliveries on hospital campuses and move it one step closer to making deliveries to consumers. Many regulatory obstacles remain, however, before UPS — or other operators who are testing drones...
CVS stops sale of heartburn drugs with suspect contaminant
CVS has halted sales of popular heartburn treatment Zantac and its generic store brand after warnings by U.S. health regulators. It’s the latest precautionary move by retailers and manufacturers after the Food and Drug Administration recently warned consumers about a potentially dangerous contaminant in prescription and over-the-counter versions of Zantac....
John Dorfman: How about owning a few stocks outside the U.S.?
If the U.S. stock market falls — whether because of the impeachment battle, the trade war with China or slowing corporate profits — stocks outside the U.S. won’t necessarily do better. Then again, they may. Diversifying your stock portfolio by putting a slice of it in companies based outside the...
German court opens hearings on consumer suit against VW
BERLIN — A German court opened proceedings Monday in a landmark case in which some 470,000 consumers aim to establish a right to compensation from automaker Volkswagen for cars affected by the company’s diesel emissions scandal. The case, brought by the Federation of German Consumer Organizations on behalf of hundreds...
Forever 21 fashion chain files for Chapter 11 bankruptcy
NEW YORK — Low-price fashion chain Forever 21, a one-time hot destination for teen shoppers that fell victim to its own rapid expansion and changing consumer tastes, has filed for Chapter 11 bankruptcy protection. The privately held company based in Los Angeles said Sunday it will close up to 178...
Former college towns left to adapt to business loss
POULTNEY, Vt. — As colleges and universities come alive this fall, some campuses sit closed and empty after succumbing to a recent wave of fewer students and financial challenges. Now communities that long hosted those historic institutions and relied on them for an economic boost — and their very identity...
Cape Cod brings back limited-edition chips in support of Breast Cancer Awareness Month
A popular potato chip company is showing its dedication to support Breast Cancer Awareness Month by returning to a familiar, limited-edition flavor. In a Thursday tweet, Cape Cod Chips reminded us that “October is right around the corner” and the company has brought back the Pink Himalayan Salt & Red...
Mylan agrees to pay $30M in SEC EpiPen settlement
Mylan has agreed to pay $30 million in a settlement tied to its failure to tell investors about a Justice Department investigation into whether the company overcharged Medicaid for the EpiPen. The Securities and Exchange Commission said Friday that Mylan NV classified the EpiPen as a “generic” drug under the...
Barbie maker makes room in the toy box for gender-inclusive dolls
LOS ANGELES — Mattel, the toymaker behind Barbie dolls and Hot Wheels cars, is now officially woke. The company has launched its first gender-inclusive dolls to encourage more creative play for girls, boys and anyone identifying as both or in between. The Creatable World doll line, which launched Wednesday, is...
US economy grew at modest 2% rate in second quarter
WASHINGTON — The U.S. economy grew at a modest 2% annual rate in the second quarter, a pace sharply lower than the 3%-plus growth rates seen over the past year. Many analysts believe growth will slow further in coming quarters as global weakness and rising trade tensions exert a toll....
Walmart’s Sam’s Club launches health care pilot to members
NEW YORK — Walmart’s Sam’s Club is teaming up with several health care companies to offer discounts on routine care that customers might delay or skip because of the cost. Starting next month, Sam’s Club members in Michigan, Pennsylvania and North Carolina will be able to buy bundles of health...
Uber adds more services to its app in its quest for profit
SAN FRANCISCO — Uber is cramming more services into its ride-hailing app as it explores ways to generate more revenue and finally turn a profit. The makeover announced Thursday includes force-feeding its food delivery service, “Eats,” into the Uber app that millions of people use to summon a ride. That...
Alexa users will have Samuel L. Jackson’s voice as an optionVideo
Samuel L. Jackson is set to be the first celebrity voice that can be swapped out for Alexa on Amazon’s Echo devices. For 99 cents, Alexa’s Jackson “voice pack” will be available later this year at that discounted price. After that, the price jumps to $4.99, according to Geek Wire....
U.S. stocks rebound on housing data, Trump trade deal remark
U.S. stocks finished broadly higher Wednesday after President Donald Trump indicated that a deal to resolve the long-running, costly trade dispute with China could happen soon. Trump’s remarks, in addition to a sharp increase in sales of new U.S. homes, helped reverse an early slide for stocks. Technology companies led...
Huntley & Huntley adopts new name, focus
Huntley & Huntley Energy Exploration, a natural gas company with several unconventional wells in Allegheny and Westmoreland counties, is rebranding itself as Olympus Energy LLC. The Canonsburg-based company said the new name “reflects the company’s focus on driving a new era of energy leadership within the Appalachian Basin, built on...
Arby’s parent Inspire Brands buys Jimmy John’s Sandwiches
ATLANTA — The parent company of Arby’s is buying Jimmy John’s Sandwiches, hoping to reverse sluggish sales at the chain. Atlanta-based Inspire Brands said Wednesday the acquisition will make it the fourth-largest restaurant company in the United States, with annual sales of $14 billion and 11,200 restaurants. Inspire also owns...
WeWork CEO stepping aside amid questions about company
NEW YORK — WeWork’s charismatic but controversial CEO is stepping aside from the company he founded, another moment of reckoning between a fast-growing tech company and its disenchanted investors. The New York-based company, which runs trendy communal office spaces, said Tuesday that Adam Neumann will remain on its board as...
Google wins case over EU’s ‘right to be forgotten’ rules
BRUSSELS — Handing Google a major victory, the European Union’s highest court ruled Tuesday that the EU’s “right to be forgotten” rules that allow people to control what comes up when their name is searched online do not apply outside the 28-nation bloc. Over the past five years, people in...
Can a new space race connect world to internet?
NEW YORK — It’s a 21st century space race: Amazon, SpaceX and others are competing to get into orbit and provide internet to the Earth’s most remote places. And like the last century’s battle for space supremacy that was triggered by the Soviet Union’s launch of Sputnik 1, this one...
First Lady Melania Trump rings NY Stock Exchange bellVideo
NEW YORK — First lady Melania Trump has rung the opening bell at the New York Stock Exchange. The exchange’s first female president, Stacey Cunningham, escorted Mrs. Trump on Monday and discussed the exchange’s history with her. They were flanked by children from the United Nations International School while standing...
UAW strike puts Trump, GOP in political bind in key states
LANSING, Mich. — Democrats were quick to back working-class United Auto Workers in their strike against General Motors, delivering doughnuts and holding picket signs outside factories to show solidarity. It’s a union they long have aligned with politically. There were no doughnuts from Republicans. Led by President Donald Trump, GOP...
Fresh U.S.-China trade worries erase early gains for stocks
Wall Street closed out a volatile week with losses Friday as investors worried that upcoming trade talks aimed at resolving the costly trade war between Washington and Beijing could be in trouble. The selling, which erased modest early gains for the market, snapped a three-week win streak for the S&P...
Google plans to invest 3 billion euros in Europe
COPENHAGEN, Denmark — Google’s top boss said Friday the tech giant is planning to invest 3 billion euros to expand its data centers across Europe in the next two years. Google will bring the company’s total investments in the continent’s internet infrastructure to 15 billion euros since 2007, Chief executive...
