Business category, Page 212
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...
Duquesne Light seeks to raise rates by 7.7%
Duquesne Light Co. wants to raise the electric bills for residential customers by 7.7%, an increase that would cost users another $7.73 a month on average, or about $92 a year, the Pittsburgh-based company said. The request was filed Friday with the Pennsylvania Public Utility Commission. If approved, which is...
Mercedes rolls out luxury electric car in duel with Tesla
FRANKFURT, Germany — Daimler AG on Thursday unveiled a battery-powered counterpart to its top Mercedes-Benz luxury sedan as German carmakers ramp up their challenge to electric upstart Tesla. The EQS is the first Mercedes-Benz vehicle to be built on a framework designed from the start as an electric car, rather...
Dow crests 34,000 on more proof that economy is recovering
NEW YORK — Wall Street notched more milestones Thursday, as a broad market rally pushed the S&P 500 to an all-time high and the Dow Jones Industrial Average crossed above the 34,000 mark for the first time. The S&P 500 rose 1.1%, with technology, health care and communication stocks accounting...
Trader Joe’s Restaurant Style White Corn Tortilla Chips recalled
Snak King Corp. of City of Industry, Calif., has recalled Trader Joe’s Restaurant Style White Corn Tortilla Chips because they may contain milk. Milk is an allergen and is not listed on the label as an ingredient. People who are allergic to milk could have “a serious or life-threatening allergic...
Trib Total Media to host free digital marketing program for businesses, entrepreneurs
Business owners and entrepreneurs seeking efficient and effective solutions to help reinvigorate their businesses as covid restrictions loosen can learn digital marketing tactics, trends and strategies during a virtual program Friday that will help them reach their marketing goals. “We want to help our advertising partners as the region and...
Most stocks rise, indexes end mixed as earnings kick off
NEW YORK — Most stocks rose on Wednesday, but indexes petered out to a mixed finish as momentum weakened following an encouraging start to what’s expected to be a thunderous earnings reporting season. The S&P 500 fell 16.93 points, or 0.4%, to 4,124.66, a day after returning to an all-time...
Coinbase is here: A digital currency exchange goes public
Wall Street is still waiting on the first trade for Coinbase, as the digital currency exchange makes its highly-anticipated debut on the stock market. Coinbase Global Inc. is making its initial public offering of stock Wednesday with cryptocurrency chatter seemingly everywhere, even at the U.S. Federal Reserve. Digital currencies are...
Sheetz makes Fortune Magazine’s list of best companies to work for
Is Sheetz a good place to work? According to a new list, MTOh, yeah. Fortune Magazine released its 2021 list of the 100 Best Companies to Work For on Monday. “Prolonged shutdowns. Workforces that felt isolated and overwhelmed. You name it, covid brought it. Still, these companies managed not just...
Bally’s buying Tropicana hotel on Las Vegas Strip for $308M
LAS VEGAS — The Tropicana Las Vegas Hotel and Casino is being sold. Bally’s Corp. announced Tuesday it will acquire the iconic Las Vegas Strip property from Gaming and Leisure Properties Inc. for about $308 million. The agreement for the nearly 1,500-room hotel, casino, theater and convention property also involves...
Stocks close mixed as regulators seek pause in J&J vaccine
A choppy day of trading on Wall Street ended with indexes mixed Tuesday as a drop in bond yields hurt bank stocks but helped big technology companies. The S&P 500 rose 0.3% after briefly slipping into the red in the early going. The modest gain nudged the benchmark index to...
U.S. agency probing air bag failures in 750,000 GM vehicles
The U.S. government’s highway safety agency is investigating complaints that the air bags may not inflate in a crash on thousands of General Motors vehicles. The National Highway Traffic Safety Administration says the probe covers nearly 750,000 Chevrolet, Cadillac and GMC vehicles from the 2020 and 2021 model years. Most...
John Dorfman: Nvidia, Adobe lead off 30-30 club
Only 41 baseball stars have ever made the 30-30 club — the likes of Hank Aaron, Willie Mays and Mike Trout. To make it, you have to hit 30 home runs and steal 30 bases in a season. I have a 30-30 club for corporations. To make it, they have...
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...
