Wire stories category, Page 112
Blue Apron latest to suffer in tough meal kit market
Meal kit companies face an ultimatum: Adapt or die. The business is still in its infancy, with the biggest players — Blue Apron and HelloFresh — less than a decade old. But they’re facing serious challenges from restaurant and grocery delivery services, smaller niche players and even home chefs. The...
Seeing a twisting road ahead, Ford cuts 7,000 white-collar jobsVideo
DETROIT — Ford is cutting about 7,000 white-collar jobs, which would make up 10% of its global workforce. The company has said it was undertaking a major restructuring, and on Monday said that it will have trimmed thousands of jobs by August. The company said that the plan will save...
China’s ban on scrap imports a boon to U.S. recycling plants
ALBANY, N.Y. — The halt on China’s imports of wastepaper and plastic that has disrupted U.S. recycling programs has also spurred investment in American plants that process recyclables. U.S. paper mills are expanding capacity to take advantage of a glut of cheap scrap. Some facilities that previously exported plastic or...
Fastest-growing nuclear business is tearing down U.S. plants
The fastest growing part of the nuclear industry in the U.S. involves a small but expanding group of companies that specialize in tearing reactors down faster and cheaper than ever before. After Entergy Corp. shut its Vermont nuclear plant in 2014, the utility planned to wait until 2068 to dismantle...
The highest paying entry level jobs, according to Glassdoor
A decade after the Great Recession, when new college grads walked into an abysmal job market with long-lasting effects, the Class of 2019 is joining the workforce during an economic upswing, complete with historically low unemployment and rising wages. For technically minded graduates, the prospects are even brighter, according to...
Pirates owner Bob Nutting visits bankrupt Reading Eagle newspaper
Word swept through the Reading Eagle last Friday that newspaper baron and Pittsburgh Pirates owner Robert Nutting was touring the presses and offices, triggering speculation that his Ogden Newspapers could bid on the distressed 230-employee Pennsylvania newspaper. Nutting could not be reached in several attempts to contact him at Ogden...
Judge: No site permit needed for refinery near national park
BISMARCK, N.D. — A North Dakota judge has ruled that regulators properly refrained from getting involved in a dispute over the location of an $800 million oil refinery planned near Theodore Roosevelt National Park, sparing developers from a potentially lengthy delay in construction. The Public Service Commission last year declined...
Co-working spaces: Not just for start-up bros anymore
LOS ANGELES — Co-working is often more pleasant these days than putting in eight hours at a traditional office. If you’d prefer a workspace that looks like a chic hotel lobby with waiters at your service, that can be arranged. Want to be around other women in a cabana on...
California cafe touts its $75 coffee as the world’s priciest
SAN FRANCISCO — A California cafe is brewing up what it calls the world’s most expensive coffee — at $75 a cup. Klatch Coffee is serving the exclusive brew, the Elida Natural Geisha 803, at its branches in Southern California and San Francisco. The 803 in the coffee’s name refers...
Under soda tax, beverage sales at chain stores in Philly dropped 51%, study finds
PHILADELPHIA — Sales of soda and other sweetened beverages have declined by 51% at chain stores in Philadelphia since the city’s controversial tax on beverages took effect in 2017, according to a study released Tuesday, one week before city primary elections in which the tax is a key issue. Total...
Bayer’s stock falls after $2 billion verdict against Roundup maker Monsanto
Bayer’s stock fell 2% Tuesday afternoon, one day after a California couple was awarded more than $2 billion over allegations that its Roundup weed killer causes cancer. The decision marked the third consecutive jury verdict against the company over its top-selling herbicide. The company has said it will appeal the...
Jury: Monsanto to pay $2 billion in weed killer cancer case
OAKLAND, Calif. — A jury on Monday ordered agribusiness giant Monsanto Co. to pay a combined $2.05 billion to a couple claiming that the company’s popular weed killer Roundup Ready caused their cancers. The jury’s verdict is third such courtroom loss for Monsanto in California since August. The state court...
As China retaliates on tariffs, stock markets take deep diveVideo
U.S. markets plunged Monday as China said it would raise steep tariffs on $60 billion in U.S. goods, upping the stakes of a trade war that threatens to imperil the global economy. The Dow Jones industrial average closed down 617 points, or nearly 2.4%, as investors feared that a trade...
Escalating U.S.-China trade war sinks stocks
NEW YORK — U.S. stocks moved sharply lower Monday on Wall Street and extended the market’s slide into a second week as investors seek shelter from an escalating trade war between the U.S. and China. The world’s largest economies had seemed on track to resolve the ongoing trade dispute that...
Supreme Court rules against Apple, allowing lawsuit targeting App Store to proceed
Apple suffered a significant defeat at the Supreme Court on Monday, when the justices ruled that consumers could forge ahead with a lawsuit against the iPhone giant over the way it manages its App Store. The 5-4 decision could spell serious repercussions for one of Apple’s most lucrative lines of...
Amazon to employees: We’ll pay you to quit and haul packages
NEW YORK — Amazon, which is racing to deliver packages faster, is turning to its employees with a proposition: Quit your job and we’ll help you start a business delivering Amazon packages. The offer, announced Monday, comes as Amazon seeks to speed up its shipping time from two days to...
Uber’s hyped-up IPO hits potholes on 1st day
NEW YORK — After much hype leading up to the largest initial public offering in five years, Uber hit a few potholes on its first day of trading, closing down 8% and reflecting lingering doubts about its future prospects for profitability. The ride-hailing company injected investors with a dose of...
Stocks rebound as hopes rise that trade tensions will ease
Major U.S. stock indexes turned higher in late afternoon trading Friday, shaking off an early slump triggered by the latest escalation in the trade war between the U.S. and China. The market fell sharply in the early going after the U.S. raised tariffs on $200 billion worth of Chinese goods...
Here’s how tariffs on Chinese goods will affect U.S. consumers
WASHINGTON — With the Trump administration more than doubling tariffs on billions of dollars of Chinese imports, will Americans soon see higher prices on store shelves? Yes, but it may take a few weeks. U.S. import taxes on $200 billion of Chinese goods jumped to 25% on Friday, from 10%,...
Rihanna to launch groundbreaking new fashion label with LVMH
NEW YORK — Rihanna certified her status as a cultural fashion icon with her groundbreaking new deal with LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury group. The pop star, born Robyn Rihanna Fenty, announced Friday that she will debut a line called Fenty this spring through LVMH. Her...
Coal’s slide to continue in U.S. as renewables fill the gap
BILLINGS, Mont. — U.S. demand for coal to generate electricity will continue its slide in coming months despite efforts by the Trump administration to prop up the struggling industry, federal officials said Thursday. Renewable energy sources are expected to fill much of the gap left by coal’s decline, according to...
China Mobile blocked from offering phone service in U.S.
U.S. communications regulators on Thursday rejected a Chinese telecom company’s application to provide service in the U.S. due to national security risks amid an escalation in tensions between the two countries. The Federal Communications Commission on Thursday voted unanimously, 5-0 across party lines, to reject China Mobile International USA Inc.’s...
U.S. sanctions to hit Iran’s metals industry, a major employer
TEHRAN, Iran — U.S. sanctions have targeted Iran’s government, its paramilitary forces and the oil exports that fund them. Now they are hitting its vital steel, aluminum, copper and iron industries. The new sanctions, imposed as Tehran announced its partial withdrawal from its 2015 nuclear deal with world powers, seem...
High-tech sex toy for women wins back a rescinded award
ARLINGTON, Va. — A trade group has reinstated an award to the makers of a robotic sex toy for women that it had taken away four months ago for not keeping with its image. The Consumer Technology Association on Wednesday restored the Consumer Electronics Show’s 2019 Innovation Award in the...
Schick owner buys Harry’s in new shaving war alliance
NEW YORK — The owner of Schick razors is acquiring upstart shaving company Harry’s for $1.37 billion, continuing a trend of consolidation in the shaving industry, where established brands have struggled with the rise of digital-savvy newcomers. About 79% of the deal is cash, and the remainder stock. Harry’s has...
