Business category, Page 230
Looking for fat profit margins? Try these 5 stocks
Obscene profits. Don’t you miss them? Since the pandemic and recession began, fat profits have been hard to come by. Here are five stocks whose profit margins are still wide and whose prospects look good to me. Applied Materials Applied Materials Inc. (AMAT), based in Santa Clara, Calif., is one...
Analysis: Trump made a promise to save coal in 2016. He couldn’t keep it
President Donald Trump spent more than $1 billion in taxpayer funds, rolled back environmental rules and tried to stop power plant closings to fulfill a vow he made to West Virginia coal miners in the 2016 campaign. But nothing he’s done is rescuing the coal industry. Since Trump’s inauguration, U.S....
Allegheny Ludlum stainless steel cars sell for $950K at auto auction
A trio of stainless steel cars produced by Ford and Allegheny Ludlum sold at auction for $950,000. Billed as “The Historic Stainless Steel Trifecta” and a once-in-a-lifetime opportunity, the cars were sold Saturday night as a single lot by Worldwide Auctioneers at the 13th annual Auburn Auction. They were offered...
Unions threaten work stoppages amid calls for racial justice
NEW YORK — Ahead of Labor Day, unions representing millions across several working-class sectors are threatening to authorize work stoppages in support of the Black Lives Matter movement amid calls for concrete measures that address racial injustice. In a statement first shared with The Associated Press, labor leaders who represent...
Hyundai now says recalled vehicles should be parked outside
DETROIT — Hyundai has reversed itself on a recall to fix a defect that could cause engine fires and is now telling owners of more than 200,000 vehicles to park them outdoors until repairs are made. The company, along with affiliated South Korean automaker Kia, on Thursday said they were...
Feds terminate ventilator contract with Philips Respironics that had drawn criticism
The U.S. Department of Health and Human Services recently terminated multiple contracts to add ventilators to the country’s Strategic National Stockpile. And, while federal health officials say they now have enough ventilators to meet maximum national capacity in a crisis, one of the terminated contracts — awarded to Philips Respironics,...
Tech rout sends stock market to its biggest loss since JuneVideo
NEW YORK — Wall Street’s euphoria took a break Thursday, as steep losses in technology stocks dragged the rest of the market down with them. It was the biggest decline for the U.S. stock market since early June, when investors were dealing with a surge of coronavirus infections in places...
U.S. trade deficit surges in July to highest in 12 yearsVideo
WASHINGTON — The U.S. trade deficit surged in July to $63.6 billion, the highest level in 12 years, as imports jumped by a record amount. The Commerce Department reported that the July deficit, the gap between what America buys and what it sells to foreigners, was 18.9% higher than the...
Hyundai, Kia recall vehicles for leaks that can cause fires
DETROIT — Korean automakers Hyundai and Kia are recalling over 591,000 vehicles in the U.S. to fix a brake fluid leak that could cause engine fires. The recalls cover more than 440,000 Kia Optima midsize sedans from 2013 through 2015 and Kia Sorento SUVs from 2014 and 2015. Also covered...
Honda, General Motors sign deal to work on vehicles together
DETROIT — General Motors and Honda say they have signed a deal to explore sharing vehicle underpinnings and propulsion systems in North America. The companies say planning discussions on jointly designed vehicles will start immediately and include vehicles powered by electricity and internal combustion engines. Engineering work would begin early...
Budget deficit to hit record $3.3 trillion because of coronavirus, recession
WASHINGTON — The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office said Wednesday. The spike in the deficit means...
Wall Street has biggest gain since July, sets more recordsVideo
The Dow Jones Industrial Average surged more than 450 points Wednesday as the stock market notched its best day in nearly two months. The S&P 500 rose 1.5%, it’s best day since July 6. The benchmark index and the Nasdaq composite each hit new highs, extending Wall Street’s milestone-setting run...
Sheetz named a top company that cares by People magazineVideo
Sheetz ranked among top businesses in the country as a company that cares. The Altoona-based firm ranked 11th out of 50 companies that received the designation based on their demonstration of respect, care and concern for employees, communities and the environment during the coronavirus pandemic. It was the only convenience...
Old Navy will pay its employees to work polls on Election Day
Old Navy said it will pay its 50,000 workers to not come into the stores this Election Day. That is if they head to the polls instead — as workers. The San Francisco-based retailer announced Tuesday — National Poll Worker Recruitment Day — that it will encourage workers in its...
Facebook, Twitter suspend Russian network ahead of electionVideo
OAKLAND, Calif. — Facebook said Tuesday that it removed a small network of accounts and pages linked to Russia’s Internet Research Agency, the “troll factory” that has used social media accounts to sow political discord in the U.S. since the 2016 presidential election. Twitter also suspended five related accounts. The...
Black former franchisees sue McDonald’s for discriminationVideo
More than 50 Black former McDonald’s franchise owners are suing the burger chain, saying the company steered them to less-profitable restaurants and didn’t give them the same support and opportunities given white franchisees. The 52 plaintiffs, who owned around 200 U.S. stores before being forced to sell them over the...
Stocks start September off with more gains, led by techVideo
Wall Street kicked off September with another set of milestones Tuesday, as an afternoon rally carried the S&P 500 and Nasdaq composite to all-time highs. The S&P 500 bounced back from a modest loss in the early going to finish 0.8% higher a day after the benchmark index wrapped up...
Apple, Google build virus-tracing tech directly into phones
Apple and Google are trying to get more U.S. states to adopt their phone-based approach for tracing and curbing the spread of the coronavirus by building more of the necessary technology directly into phone software. That could make it much easier for people to get it on their phone even...
Survey: U.S. factories grow in August for 3rd straight monthVideo
WASHINGTON — American factories expanded last month at the fastest pace since late 2018, continuing a rebound from the coronavirus recession. The Institute for Supply Management, an association of purchasing managers, reported Tuesday that its manufacturing index climbed to 56 in August from 54.2 in July, highest since November 2018....
Samsung touts $2,000 foldable phone as a ‘VIP’ experienceVideo
SAN RAMON, Calif. — Samsung’s second attempt at a foldable smartphone will come with a $2,000 price tag and a few elite perks aimed at affluent consumers still able to afford the finer things in life during tough times. The phone, dubbed the Z Fold2, will include a VIP package...
15 years later, Walmart to launch its answer to Amazon Prime
NEW YORK — Walmart is launching a new membership service that it hopes can compete with Amazon Prime. Called Walmart+, it will cost $98 a year, or $12.95 a month, and give members same-day delivery on 160,000 items, a fuel discount at certain gas stations and a chance to check...
GM, Ford complete U.S. contracts to build ventilators
DETROIT — General Motors says it has finished making 30,000 medical breathing machines for the U.S. government to help treat coronavirus patients. The Department of Health and Human Services contracted with GM to build the ventilators at a converted auto electronics plant in Kokomo, Indiana, at a cost of $489.4...
Trump administration finalizes coal plant pollution rollback
BILLINGS, Mont. — The Trump administration on Monday finalized its weakening of an Obama-era rule aimed at reducing polluted wastewater from coal-burning power plants that has contaminated streams, lakes and underground aquifers The change will allow utilities to use cheaper technologies and take longer to comply with pollution reduction guidelines...
Amazon wins FAA approval to deliver packages by drone
NEW YORK — Getting an Amazon package delivered from the sky is closer to becoming a reality. The Federal Aviation Administration said Monday it had granted Amazon approval to deliver packages by drones. Amazon said that the approval is an “important step,” but added that it is still testing and...
MGM Resorts plans to lay off 18,000 workers
MGM Resorts is laying off 18,000 people as an unchecked pandemic leaves economic scars across a broad swath of U.S. industries, particularly those that rely on healthy crowds of people. MGM furloughed 62,000 of its 70,000 employees when casinos in Nevada were forced to close on March 17. Many of...
