Business category, Page 60
Social Security’s scheduled cost of living increase ‘won’t make a dent’ for some retirees
WASHINGTON — Sherri Myers, an 82-year-old resident of Pensacola City, Florida, says the Social Security cost-of-living increase she’ll receive in January “won’t make a dent” in helping her meet her day-to-day expenses. “Inflation has eaten up my savings,” she said. “I don’t have anything to fall back on — the...
States sue TikTok, claiming its platform is addictive and harms the mental health of children
NEW YORK — More than a dozen states and the District of Columbia have filed lawsuits against TikTok on Tuesday, alleging the popular short-form video app is harming youth mental health by designing its platform to be addictive to kids. The lawsuits stem from a national investigation into TikTok, which...
Woman accusing Vince McMahon of sexual abuse asks WWE to waive confidentiality agreements
A former WWE employee who filed a lawsuit against the company and ex-leader Vince McMahon, accusing him of sexual battery and trafficking, is asking them to not enforce nondisclosure agreements with other former and current employees and contractors so they can potentially come forward with similar accusations. A lawyer for...
John Dorfman: Occidental, Humana on Casualty List
“I can only buy on train wrecks,” famed money manager John Neff once said. Neff’s lament was that his fund (the Windsor Fund) had grown so large that he normally couldn’t buy a stock without pushing the price up. Accordingly, he felt that he could only buy on bad news....
Federal judge orders Google to open its Android app store to competitionVideo
SAN FRANCISCO — A federal judge on Monday ordered Google to tear down the digital walls shielding its Android app store from competition as punishment for maintaining an illegal monopoly that helped expand the company’s internet empire. The injunction issued by U.S. District Judge James Donato will require Google to...
Amazon, UPS each want 2,000 seasonal workers in Western Pa.
Amazon and United Parcel Service Inc. each want to hire about 2,000 workers in advance of the holiday shopping season for its distribution centers in Western Pennsylvania, the companies said this week. Workers looking for full-time and part-time seasonal jobs with the competing major shipping and delivery companies can earn...
U.S. adds a robust 254,000 jobs and unemployment dips to 4.1% in sign of still-sturdy labor market
WASHINGTON — America’s employers added a surprisingly strong 254,000 jobs in September, the latest evidence that the U.S. labor market is still solid enough to support steady hiring and a growing economy. Last month’s hiring gain was up sharply from the 159,000 jobs that were added in August, and the...
Dockworkers’ union to suspend strike until January to allow time to negotiate new contract
DETROIT — The union representing 45,000 striking U.S. dockworkers at East and Gulf coast ports reached a deal Thursday to suspend a three-day strike until Jan. 15 to provide time to negotiate a new contract. The union, the International Longshoremen’s Association, is to resume working immediately. The temporary end to...
Taxpayers in 24 states will be able to file their returns directly with the IRS in 2025
WASHINGTON — The IRS is expanding its program that allows people to file their taxes directly with the agency for free. The federal tax collector’s Direct File program, which allows taxpayers to calculate and submit their returns to the government directly without using commercial tax preparation software, will be open...
Amazon, Target and other retailers are ramping up hiring for the holiday shopping season
Retailers are ramping up hiring for the holiday season, but fewer seasonal employees are expected to be taken on this year to help customers in stores and assemble online orders in warehouses. E-commerce giant Amazon said Thursday it will hire 250,000 full, part-time and seasonal workers for the crucial shopping...
Tesla issues 5th recall for new Cybertruck within a year, the latest due to rearview camera
Tesla is recalling more than 27,000 Cybertrucks because the rearview camera image may not activate immediately after shifting into reverse, the fifth recall for the vehicle since it went on sale late last year. Tesla has released a free software upgrade to address the issue and owner notification letters are...
Elections have less impact on your 401(k) than you might think
NEW YORK — Much like those annoying political TV ads, the warnings come back every four years: All the uncertainty around the U.S. presidential election could have big consequences for your 401(k)! Such warnings can raise anxiety, but remember: If your 401(k) is like many retirement savers’, with most invested...
Dockworkers join other unions in trying to fend off automation, or minimize the impact
NEW YORK — The massive port workers’ strike that has crippled all the major dockyards on the Eastern seaboard of the U.S. is highlighting a fear held by many workers: Eventually, we will all be replaced by machines. The International Longshoremen’s Association, which represents the approximately 45,000 dock workers who...
Trump’s crypto venture begins sign-ups as business’s purpose remains unclear
Donald Trump’s World Liberty Financial decentralized finance project has started to sign up users even though it remains unclear what services the crypto platform will offer. The project backed by the former president is now accepting accredited U.S. investors and non-U.S. persons, according to posts Monday on the social networks...
CNN puts paywall on its website as TV revenues decline
CNN has long had one of the most visited news websites in the world. Starting Tuesday, users are going to have to pay for it. The Warner Bros. Discovery-owned news operation is putting a paywall on CNN.com, requiring U.S. users to pay $3.99 for access or a discounted rate of...
Dockworkers may have the negotiating advantage in their strike against U.S. ports
PHILADELPHIA — With 45,000 longshoremen at 36 U.S. ports from Maine to Texas on strike for the first time in decades, experts say the workers may wield the upper hand in their standoff with port operators over wages and the use of automation. Organized labor enjoys rising public support and...
U.S. job openings rise to 8 million as labor market remains sturdy
WASHINGTON — U.S. job openings rose unexpectedly in August as the American labor market continued to show resilience. The Labor Department reported Tuesday that employers posted 8 million vacancies in August, up from 7.7 million in July. Economists had expected openings to be virtually unchanged. Openings were up in construction...
Warren Buffett buys rest of Berkshire Hathaway’s utilities, but investors must guess at the price
OMAHA, Neb. — Warren Buffett’s Berkshire Hathaway is buying the rest of its utility unit from the estate of a longtime board member who died three years ago, but it’s not clear exactly how much it will pay for that 8% stake in the massive utility business. Berkshire Hathaway Energy...
U.S. could see shortages and higher retail prices if a dockworkers strike drags on
NEW YORK — U.S. ports from Maine to Texas shut down Tuesday when the union representing about 45,000 dockworkers went on strike for the first time since 1977. A lengthy shutdown could raise prices on goods around the country and potentially cause shortages and price increases at big and small...
John Dorfman: Dividends don’t (usually) lie
Geraldine Weiss, who died two years ago at age 96, was a successful investment newsletter writer at a time when few women were prominent in finance. She wrote a book called “Dividends Don’t Lie.” Weiss’ investment strategy was to invest in stocks with a dividend yield above that stock’s historical...
Many Verizon customers across the U.S. hit by service outage
NEW YORK — Some Verizon customers across the U.S. were hit by a service outage Monday. The issue appeared to knock out cellphone service for tens of thousands of Verizon users. Data from outage tracker DownDetector shows that reports topped 100,000 shortly after 11 a.m. ET — and while that...
DirecTV buys rival Dish as satellite mainstays hunker down against onslaught of streaming services
DirecTV is buying Dish and Sling, a deal it has sought to complete for years, as the company seeks to better compete against streaming services that have become dominant. DirecTV said Monday that it will acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction...
Inflation explained: Cheaper consumer electronics an outlier among industries
Editor’s note: This is the fifth story in an occasional series on the causes and impact of inflation. It has been a while since televisions were a real money maker, at least for small businesses. Just ask Henry Yasczak, a semi-retired appliance seller and repairman. He still operates Henry’s, formerly...
Pitt staff join United Steelworkers union
About 6,300 employees on the University of Pittsburgh’s main and branch campuses are joining the United Steelworkers union, officials confirmed Friday after votes were tallied in a monthlong, state-supervised election. The union will work to secure a collective bargaining agreement between those workers and Pitt, Western Pennsylvania’s largest university. Results...
Trump favors huge new tariffs. What are they, and how do they work?
WASHINGTON — Former President Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the U.S. The former president and current Republican nominee asserts that tariffs — basically import taxes — will create more factory jobs, shrink...
