Business category, Page 297
U.S. employers added a stellar 312,000 jobs in December
WASHINGTON — U.S. employers dramatically stepped up their hiring in December, adding 312,000 jobs in an encouraging display of strength for an economy in the midst of a trade war, slowing global growth and a partial shutdown of the federal government. The Labor Department said Friday that the unemployment rate...
Fewer affected in Marriott hack, but passports a red flag
BETHESDA, Md. — Fewer Marriott guest records that previously feared were compromised in a massive data breach, but the largest hotel chain in the world confirmed Friday that approximately 5.25 million unencrypted passport numbers were accessed. The compromise of those passport numbers has raised alarms among security experts because of...
Herb Kelleher, co-founder of Southwest Airlines, dies at 87
DALLAS — Not many CEOs dress up as Elvis Presley, settle a business dispute with an arm-wrestling contest, or go on TV wearing a paper bag over their head. Herb Kelleher did all those things. Along the way, the co-founder and longtime leader of Southwest Airlines also revolutionized air travel...
Google moves closer to creating sensors for controlling devices with hand gestures
Nearly two decades after its release, “Minority Report” still seems to be as prescient as the film’s eerie crime-fighting “precogs,” offering a clarifying vision of the future that continues to manifest in the real world. Though it debuted way back in 2002, the film highlighted technologies such as driverless cars,...
Stocks plunge after Apple says iPhone sales in China slowed
NEW YORK — Stocks tumbled Thursday on Wall Street, with technology companies suffering their worst loss in seven years, after Apple reported that iPhone sales in China are slumping. The rare warning of disappointing results from Apple reinforced investors’ fears that the world’s second-biggest economy is losing steam and that...
Bristol-Myers Squibb buying Celgene in $74B deal
SUMMIT, N.J. — Bristol-Myers Squibb is spending $74 billion on fellow drugmaker Celgene in a deal aimed at stocking the combined company’s development pipeline with cancer, immunology and cardiovascular treatments. Bristol would gain the cancer treatment Revlimid in the cash-and-stock deal announced Thursday, as well as inflammatory disease treatments and...
Bad stuff the stock market worried about is starting to happen
All of a sudden, the fundamentals aren’t looking as strong. First it was Apple’s $5 billion revenue miss, hints of which lopped 30 percent from its stock over three months. Now it’s a closely watched gauge of U.S. factory activity, which dropped to a two-year low and missed every estimate...
Disappointing outlook from Delta drags down airline stocks
ATLANTA — Airlines are getting pummeled after a major carrier trimmed its revenue expectations for the fourth quarter. Delta Air Lines said Thursday that fourth-quarter revenue will rise about 7 percent, a half-point lower than it was expecting. The Atlanta airline says prices for tickets sold close to departure —...
Western Pa. ag firms to demonstrate innovations at Farm Show
Several Western Pennsylvania agribusiness start-ups that use technology innovations will share the spotlight beginning Saturday at the annual Pennsylvania Farm Show in Harrisburg. Five of six companies to be featured in the Farm Show Innovation Showcase are located on the western end of the state. Included are three Allegheny County...
Survey: U.S. firms added a strong 271,000 jobs in December
WASHINGTON — U.S. businesses added a robust 271,000 jobs in December. Payroll processor ADP said Thursday that last month’s job gains marked a sharp upturn from November’s gain of 157,000. The gains, if backed up by government numbers due Friday, could be strong enough to reduce the unemployment rate. ADP...
Apple sees a significant slump in iPhone sales
SAN FRANCISCO — Apple acknowledged that demand for iPhones is waning, fulfilling the worst fears of investors concerned that the company’s most profitable product has lost some of its luster. The reckoning came in the form of a warning that Apple CEO Tim Cook delivered to the company’s shareholders in...
Stock market starts off 2019 with more turbulence
Global markets went into a steep decline out of the gate on Wednesday, then seesawed as the volatility of 2018 continued into the new year. The Dow Jones industrial average swung between being down nearly 400 points and up 86 points, before closing up 18 points, or .08 percent, finishing...
Tesla cuts prices as 4Q deliveries miss analysts’ estimates
DETROIT — Shares of electric car and solar panel maker Tesla Inc. tumbled Wednesday after the company cut vehicle prices by $2,000 and announced fourth-quarter sales figures that fell short of Wall Street estimates. The company said in a statement before the markets opened that it delivered over 245,000 electric...
Stocks waver after an early drop as markets stay volatile
The roller coaster ride on Wall Street resumed on Wednesday, the first trading day of the new year, as stocks plunged in the morning and then climbed their way back by midday. The Dow Jones Industrial Average dropped as much as 398 points in the first few minutes of trading...
