Business category, Page 259
No fans, no work: Arena workers caught in sports shutdown
MIAMI — David Edelman can usually be found at a Denver Nuggets basketball game or a Colorado Rapids soccer game. As an usher, he interacts with fans in a role he calls a staple of his life. But there are no Nuggets games for at least a month. No Rapids...
Stocks surge on new coronavirus measures; Dow up 1,985 points
NEW YORK — Wall Street roared back from its worst day in 30 years Friday with a broad rally that sent the Dow Jones Industrial Average nearly 2,000 points higher — its biggest point gain ever — after President Donald Trump declared the coronavirus pandemic a national emergency. The Dow’s...
Businesses cut customer perks, loosen sick time rules to cope with coronavirus
Some businesses are taking extra precautions amid concerns about coronavirus. There’s the obvious — encouraging employees to stay home if they’re sick and increasing the cleaning of surfaces. But some are going steps beyond in an effort to curb the spread of the virus, which has been classified as a...
Starbucks stores may go drive-thru only or limit seating because of coronavirus
Some Starbucks stores in the U.S. and Canada may become drive-thru only while others could limit the number of people allowed inside, the company said, one day after the World Health Organization declared the outbreak of coronavirus a pandemic. “As a last resort, we will close a store if we...
Stock market endures biggest drop since crash of 1987
NEW YORK — The stock market had its biggest drop since the Black Monday crash of 1987 Thursday as fears of economic fallout from the coronavirus crisis deepened. The sell-off, which sent the Dow industrials down 10%, came despite supportive steps from the Federal Reserve and the European Central Bank....
Millennial Money: How to handle, and head off, a tax bill
Tax season can be a windfall or a wipeout for your budget. Which camp you fall into likely depends on whether you get a refund — or a tax bill — from the IRS. If you find that you owe taxes, you’re not alone. Over 23 million Americans owed the...
Panda and poke: Restaurant trademarks can stir legal fights
GILBERT, Ariz. — When picking a name for their Asian-Mexican fusion restaurant in suburban Phoenix, Paul and Nicole Fan settled on “Panda Libre,” hoping the mix of China’s iconic bear and the Spanish word for “free” would signal to customers the type of cuisine it offered. That decision could cost...
Agency says working conditions improve in Thai seafood sector
BANGKOK — A report issued Tuesday by the U.N.’s International Labor Organization credits Thailand with improving working conditions in the fishing and seafood processing industry, but says that serious abuses including forced labor remain. The report is a follow-up to one published in 2018, and compares the workers situations from...
Dow tumbles into bear market as coronavirus fears intensify
NEW YORK — Stocks careened lower Wednesday, with the Dow Jones industrials sinking more than 1,400 points, as investors became more fearful that the Trump administration and other global governments won’t be able to prevent the coronavirus outbreak from doing significant damage to the worldwide economy. The Dow’s loss dragged...
U.S. consumer prices grew 0.1% in February as food costs rose
WASHINGTON — U.S. consumer prices increased slightly last month, driven higher by more expensive food. The Labor Department said Wednesday that the consumer price index ticked up 0.1% last month, matching its January increase. Prices rose 2.3% compared with a year earlier. Excluding the volatile food and energy categories, prices...
Dow surges 4.9% in another wild day on hopes for coronavirus aidVideo
NEW YORK — Stocks on Tuesday recouped most of their historic losses from the prior day as hopes rose, faded and then bloomed again on Wall Street that the U.S. government will try to cushion the economic pain from the coronavirus. The S&P 500 surged as much as 3.7% in...
Airlines slash flights, freeze hiring as virus cuts travel
Airlines are slashing flights and freezing hiring as they experience a sharp drop in bookings and a rise in cancellations in the face of the spreading coronavirus. Delta Air Lines said Tuesday that travel demand has fallen so badly in the past week that it expects one-third of seats to...
Saudi Arabia increase oil output to record highVideo
DUBAI, United Arab Emirates — Saudi Arabia’s state-run oil giant Saudi Aramco said Tuesday it would increase its crude oil production to 12.3 million barrels a day in April, a record amount. The move seems to make good on the country’s promise over the weekend to increase output after Russia...
Twitter in deal with Silver Lake, Elliott; Jack Dorsey still CEO
Twitter says it’s reached an investment deal with Silver Lake and Elliott Management that will keep Jack Dorsey as the social media company’s CEO. Twitter Inc. said Monday that Silver Lake will make a $1 billion investment in the company. That money, along with cash on hand, is expected to...
2 CEOs make million-dollar buys
Two CEOs have made million-dollar buys of their company’s stock in February and March. At Continental Resources Inc. (CLR), CEO William Berry spent $1.6 million to increase his holding by 90,000 shares. He now owns 931,301 shares, worth about $13.8 million at Friday’s prices. Berry has been Continental’s CEO only...
Boston braces for large crowds as 1st pot shop opens
BOSTON — The first recreational marijuana shop in Boston opened Monday, where owners are bracing for large crowds. Pure Oasis owners Kobie Evans and Kevin Hart say they’re preparing for up to 1,000 customers a day to visit the store, which is also the first pot shop owned and operated...
Dow drops 7.8% as free-fall in oil, virus fears slam marketsVideo
NEW YORK — The Dow Jones Industrial Average tumbled 7.8% Monday, its steepest drop since the financial crisis of 2008, as mounting fears over the coronavirus combined with a crash in oil prices to send a shudder through world markets. The drop on Wall Street was so sharp that it...
Comcast publishes unlisted phone numbers of 200,000 customers
Comcast mistakenly posted online the contact information of nearly 200,000 customers who paid the company a monthly fee to keep their phone numbers private. In November, Comcast’s Xfinity unit found that the names, phone numbers, and addresses of customers who didn’t want to be publicly listed were posted on Ecolisting.com,...
Oil plunges 25% as another virus-fueled trading week begins
NEW YORK — Oil prices are plunging amid concern a dispute among producers could lead a global economy weakened by covid-19 to be awash in an oversupply of crude. Brent crude, the international standard, lost $11.44, or 25.3%, to $33.83 per barrel in electronic trading in London. Benchmark U.S. crude...
Congressional panel says Boeing has ‘culture of concealment’
A congressional committee investigating Boeing said Friday that a “culture of concealment” at the company and poor oversight by federal regulators contributed to two deadly crashes involving the grounded 737 Max. The committee’s Democrats said multiple factors led to the crashes, but it homed in on a new flight-control system...
Bond yields sink, stocks fall as investors demand safety
NEW YORK — A dizzying, brutal week of trading dropped one last round of harrowing swings on investors Friday. After skidding sharply through the day as fear pounded markets, steep drops for stocks and bond yields suddenly eased up in the last hour of trading amid hints from Federal Reserve...
U.S. job market looked robust before coronavirus outbreak escalated
WASHINGTON — Hiring in the United States jumped in February as employers added 273,000 positions, evidence that the job market was in strong shape before the coronavirus began to sweep through the nation. The Labor Department said Friday that the unemployment rate fell to 3.5% last month, matching a 50-year...
AGs for crackdown on chemical used to sterilize medical devices
Half of all medical devices used in the United States — from bandages to implantable computers — are sterilized with a toxic gas that has come under critical scrutiny over concerns about air pollution that could cause cancer. Now Minnesota Attorney General Keith Ellison has joined a coalition of 11...
Looking for next-level amenities with your rental? How about a rooftop farm?
MINNEAPOLIS — Apartment developers in the Twin Cities are accustomed to ginning up out-of-the-box amenities aimed at wooing renters and setting themselves apart in an increasingly competitive market. That includes decked-out dog spas, catering kitchens and refrigerated drop boxes for package delivery. Twin Cities-based Newport Midwest hopes to offer something...
Virus fears grip markets again; stocks and bond yields plungeVideo
NEW YORK — Fear dominated financial markets again on Thursday, and stocks fell sharply on worries about the fast-spreading virus outbreak. It’s the latest shudder in Wall Street’s wildest week in more than eight years. Major U.S. indexes lost roughly 3.5%, and Treasury yields touched more record lows in their...
