Wire stories category, Page 103
Charles Schwab buys TD Ameritrade in brokerage blockbusterVideo
NEW YORK — Charles Schwab is buying rival TD Ameritrade in a $26 billion stock swap, a blockbuster agreement accelerated by massive disruption in the online brokerage industry. Competitive pressure has already forced brokerages to make it free for customers to trade U.S. stocks online, and Schwab’s buyout combines two...
WeWork cuts nearly 20% of workforce in restructuring effort
NEW YORK — WeWork is slashing nearly 20% of its workforce, embarking on a painful restructuring of its money-losing operation that doomed its stock market debut and left the office-sharing company on the brink of bankruptcy. WeWork said it has laid off 2,400 of its approximately 12,500 employees to “create...
U.S. home sales rose 1.9% in October, lifted by lower rates
WASHINGTON — Americans took advantage of lower mortgage rates and purchased more homes in October, though sales were held back by a shortage of available properties. The National Association of Realtors said Thursday that sales of existing homes rose 1.9% last month to a seasonally adjusted annual rate of 5.46...
New Belgium Brewing sold to international beverage company
FORT COLLINS, Colo. — The Colorado brewery responsible for making Fat Tire beer, among many others, is being sold to an international beverage company after nearly 30 years in business, officials said. New Belgium Brewing Co. in Fort Collins is being sold to Lion Little World Beverages, The Coloradoan reports....
Nerf gun, Power Rangers claw among latest unsafe toys, watchdog says
BOSTON — A Nerf dart gun, ice cream-scented Nickelodeon slime and a plastic Power Rangers claw are among the toys topping a consumer safety group’s list of worst toys for the holidays. World Against Toys Causing Harm unveiled its annual list Tuesday at a Boston children’s hospital. A realistic toy...
GateHouse, Gannett join, become largest U.S. newspaper chain
NEW YORK — GateHouse has closed its $1.1 billion takeover of Gannett, promising a $300 million cut in annual costs as it becomes the country’s largest newspaper company by far at a time when print publications are in precipitous decline. The new company keeps the Gannett name and brings about...
Chick-fil-A no longer funding Salvation Army, Fellowship of Christian Athletes
Atlanta-based Chick-Fil-A has stopped donating to The Salvation Army and the Fellowship of Christian Athletes, two organizations that have come under fire from LGBTQ activists. The company told the Thomson Reuters Foundation it has stopped donating to the organizations on Monday, according to CNBC. “We made multiyear commitments to both...
This is what the trade war looks like in bourbon country
ATLANTA — After Europe retaliated with tariffs on Kentucky bourbon in response to President Donald Trump’s trade war, the James E. Pepper distillery in Lexington so far this year has suffered a more than 20% sales decline internationally. “We’re collateral damage,” said Amir Peay, the 42-year-old owner. While tensions may...
HP rejects takeover offer from Xerox
HP Inc. says its board has rejected a roughly $33.5 billion takeover offer from Xerox. The Palo Alto, Calif.-based company said Sunday that the cash and stock deal undervalues its business and its board cited concerns about “outsized” debt levels should the companies combine. HP, which makes computers and printers,...
GE to close Georgia plant, move work to Charleroi, Pa.
An eastern Georgia industrial plant will close by the end of 2020, laying off up to 200 workers. General Electric Co. tells local media it will close its high-voltage electrical switchgear plant in Waynesboro, consolidating work to a similar plant in Charleroi, Pennsylvania. The company’s renewable energy unit blames the...
Amazon appeals $10B Pentagon contract won by Microsoft
SAN FRANCISCO — Amazon is protesting the Pentagon’s decision to award a $10 billion cloud-computing contract to Microsoft, citing “unmistakable bias” in the process. Amazon’s competitive bid for the “war cloud” project drew criticism from President Donald Trump and its business rivals. The project, formally called the Joint Enterprise Defense...
Cold snap may be your signal to get new tires for winter
DETROIT — With the eastern two-thirds of the U.S. shivering through an early blast of arctic air, it’s time to start thinking about whether your car’s tires will get you safely through the winter. Italian tiremaker Pirelli recently started a campaign telling people that winter tires aren’t just for climates...
Disney Plus hits 10 million subscribers in 1 dayVideo
NEW YORK — Disney Plus says it hit more than 10 million sign-ups on its first day of launch, far exceeding expectations. Disney’s mix of Marvel and Star Wars movies and shows, classic animated films and new series appears to be a hit out of the gate after its launch...
Trade war puts cork in wine sales to China
LIVERMORE, Calif. — Caught in the crossfire of President Trump’s trade war with China, U.S. vineyards are struggling to sell Syrah in Shanghai and Chardonnay in Shenzhen. They risk losing their foothold in one of the world’s fastest-growing wine markets. The 16-month dispute between the world’s two biggest economies has...
No. 1 milk company Dean Foods declares bankruptcy amid drop in demand
Got milk? Increasingly, Americans don’t, and that led the nation’s biggest milk producer to file for bankruptcy Tuesday. Dean Foods blamed a decadeslong drop in milk consumption that has seen people turn to alternatives such as soda, juice and almond milk. The Dallas company said it may sell itself to...
Group says misinformation on the rise on Facebook
SAN FRANCISCO — An advocacy group tracking misinformation says it has found an increase in fake political news shared on Facebook ahead of the 2020 presidential elections. The group, Avaaz, said Wednesday that misinformation is still being spread on Facebook despite measures the company has put in place since the...
Ford electric vehicle chief sees more products, sales growth
DEARBORN, Mich. — So far, electric vehicles haven’t been accepted in the United States, with fewer than 1.5% of new-vehicle buyers choosing them over internal combustion engines. That surely will change as more manufacturers offer vehicles with longer range and fast-charging networks keep growing. Ford Motor Co., General Motors Co.,...
Trump pushes back on reports U.S. will remove China tariffs
WASHINGTON — President Donald Trump on Friday dismissed a Chinese official’s assertion that his administration has agreed to roll back some of the higher tariffs it’s imposed on Chinese goods. The Chinese official said Thursday that the two sides had agreed to a phased cancellation of their tariff hikes as...
Digital wallets like Apple Cash can’t help if you’re scammed
My desperation to see Ariana Grande in concert created the perfect trap. Instead of seeing her sing about love and loss, I got sucked into an online ticket scheme that cost me $75 and a big chunk of my pride. Con artists often get away with scams like these because...
Stocks rally to highs on low rates, hopes for trade peace
NEW YORK — It’s the market that continues mostly upward, even though there’s still plenty to worry about. The Dow Jones Industrial Average and the Nasdaq closed at record highs yet again on Tuesday, and the S&P 500 closed barely below the all-time high it reached a day earlier. The...
Boeing chairman says CEO won’t get bonus until 737 Max flies
Boeing’s new chairman gave embattled CEO Dennis Muilenburg a vote of confidence Tuesday and said the chief executive is giving up any bonus this year. David Calhoun said the Boeing board believes Muilenburg “has done everything right” and is positioning the Chicago company to return the 737 Max to service...
AT&T fined $60M for misleading with ‘unlimited’ plans
AT&T will pay $60 million to settle the government’s allegation it misled customers of unlimited-data plans by slowing down service for heavy users. The Federal Trade Commission said Tuesday that AT&T will automatically provide partial refunds to customers who signed up for unlimited wireless plans before 2011. The FTC sued...
EPA proposes eased Obama-era regulations on coal-ash pollution
WASHINGTON — The Environmental Protection Agency on Monday proposed to make it easier for power companies to dispose of the toxic residues from burning coal, building on other steps the agency has already taken to rewrite Obama-era rules for coal ash pollution. The EPA’s actions would unwind some of the...
McDonald’s CEO Steve Easterbrook steps down because of relationship with employee
NEW YORK — McDonald’s chief executive officer has left the company after violating company policy by engaging in a consensual relationship with an employee, the corporation said Sunday. The fast food giant said former president and CEO Steve Easterbrook demonstrated poor judgment. McDonald’s forbids managers from having romantic relationships with...
Airbnb CEO says company is banning ‘party houses’
Airbnb Inc. says it’s banning “party houses” in the wake of a deadly shooting at an Airbnb rental in California. In a series of tweets Saturday, Airbnb co-founder and CEO Brian Chesky said that the San Francisco-based company is stepping up efforts to “combat unauthorized parties and get rid of...
