Wire stories category, Page 117
With Tesla Model Y party, Elon Musk back in the spotlight
Elon Musk needs a win, so he’s taking a page out of a tried-and-true playbook: throwing a party for a product that won’t be available for months before an audience of adoring fans. The Thursday evening unveiling of the Model Y crossover follows a major flop. Tesla Inc.’s attempt to...
What a spike in toilet paper sales says about Brexit
While British lawmakers fumble through Brexit negotiations, sales of two items might hint at how the public is bracing for impact: toilet paper and painkillers. On a recent earnings call, David Potts, chief executive of British supermarket Morrisons, said the chain had seen a “small amount” of stockpiling, and that...
OxyContin maker Purdue Pharma considers bankruptcy as lawsuits loom
The company that has made billions selling the prescription painkiller OxyContin said Wednesday that it is considering legal options including bankruptcy, a move that could upend hundreds of lawsuits claiming it had a major role in causing the U.S. opioid drug crisis. “As the company has stated, it is exploring...
Health, tech companies lead U.S. stocks to 3rd straight gain
Health care and technology companies powered stocks broadly higher on Wall Street on Wednesday, giving the market its third straight gain. Boeing briefly dipped, but finished slightly higher, after the United States said it was joining other countries in grounding the company’s 737 Max 8 airplane following a fatal crash...
Spotify files antitrust complaint to EU against Apple
LONDON — Swedish music site Spotify has complained to European Union regulators about Apple for allegedly abusing its dominant position in music streaming and stifling competition. Spotify founder Daniel Ek said Wednesday that the company has filed a formal antitrust complaint with the executive European Commission against Apple — a...
U.S. stock indexes end mostly higher, extending market’s gains
Technology and health care companies led U.S. stock indexes mostly higher Tuesday, building on the market’s solid gains from a day earlier. Boeing weighed down the Dow Jones Industrial Average for a second day as shares in the aircraft maker fell amid safety concerns following another deadly crash involving its...
Honda recalls 1.2M more vehicles with dangerous air bags
DETROIT — Honda is recalling about 1.2 million vehicles in North and Central America because their Takata air bag inflators can explode and send shrapnel into the passenger compartment. The recall covers many Honda and Acura models from 2001 through 2016. Takata used ammonium nitrate to inflate air bags. But...
Erie Brewing to buy Millcreek Brewing
Millcreek Brewing Co. in Millcreek Township will soon have a new owner. The brewpub, owned by Craig Sheehan and Frank Kneidinger, is being sold as of March 31 and will become a new location of the Erie Brewing Co., according to Heidi Sheehan, business manager for Millcreek Brewing. The business,...
Tesla walks back its plan to close most showrooms
DETROIT — Tesla is walking back plans to close most of its showrooms worldwide and announced price hikes for most of its electric vehicles. Tesla announced last month that it would shutter most of its stores to cut costs so it could sell its lower-priced Model 3 for $35,000. The...
2019 Nissan Kicks adds new choice in small-crossover market
2019 Nissan Kicks SV: A long test in a new Kia Soul-fighter. Price: $21,425 as tested, including $545 for two-tone paint. Standard items include blind-spot warning, rear cross-traffic alert, and Sirius XM. Conventional wisdom: Motor Trend likes the “strong value, clever interior, kickin’ stereo,” but not “no AWD, seat comfort,...
For boomers making plans to relocate for retirement, it’s time to get real
When Martha Powers and Larry Gomberg heard the news about Hurricane Florence bringing horrific winds and catastrophic flooding to Wilmington, N.C., they grimaced. Then, they felt relieved. “What if we had decided to build our retirement home there,” they said to each other in September, when the storm was making...
Fed data: Household net worth falls by largest amount since Great RecessionVideo
Total household net worth in the fourth quarter of 2018 dropped by the largest amount since the fourth quarter of 2008 when the country was in the midst of a steep recession, according to data released today by the Federal Reserve. Total household net worth is a measure of the...
After a decade of doubts, the stock market’s bull chugs on
NEW YORK — The bull market for U.S. stocks turns 10 years old this weekend, which puts it way past senior citizen status for a market run. It’s got the scars to prove it. Since rising from the rubble of the financial crisis in 2009, this bull market has faced...
U.S. stocks fall in morning trading, extending weekly losses
NEW YORK — U.S. stocks moved lower in morning trading Thursday, led by banks and technology companies, putting the market on track for its first losing week since January. Utilities and real estate stocks eked out slight gains as investors moved toward safer holdings. A lack of concrete news on...
Can Zuckerberg really make a privacy-friendly Facebook?
SAN FRANCISCO — After building a social network that turned into a surveillance system, Facebook CEO Mark Zuckerberg says he’s shifting his company’s focus to messaging services designed to serve as fortresses of privacy. Instead of just being the network that connects everyone, Facebook wants to encourage small numbers of...
China’s Huawei launches court challenge to U.S. security law
SHENZHEN, China — Chinese tech giant Huawei is launching a U.S. court challenge to a law that labels the company a security risk and would limit its access to the American market for telecom equipment. Huawei Technologies Ltd.’s announcement Thursday comes as the biggest global maker of network equipment for...
Ghosn’s journey: Star auto executive to masked suspect
Carlos Ghosn, the star auto executive credited with rescuing both Renault and Nissan, left a drab Tokyo detention center Wednesday after more than three months in custody, his identity obscured by a surgical mask, hat and construction worker’s outfit. The jet-setting turnaround wizard was pursued by TV news helicopters as...
UK airline says female flight attendants can drop makeup
DALLAS — Britain’s Virgin Atlantic has dropped a requirement that female flight attendants wear makeup, joining other major carriers that have eased their dress and grooming requirements after complaints about turning female employees into sex objects. Virgin Atlantic announced this week that female cabin crew members can skip the makeup....
Record trade deficit will put pressure on Trump in China talks
WASHINGTON — President Trump fell further behind in his goal of reversing the nation’s trade deficit as the gap in goods soared to an all-time high last year. That’s certain to add pressure on Trump to close a trade deal with China to boost U.S. exports and remove punishing tariffs...
Nevada cites U.S. warnings in bid to block plutonium shipments
RENO, Nev. — Nevada’s latest bid to block incoming shipments of weapons-grade plutonium points to the U.S. Energy Department’s own scientific warnings about the dangers of prematurely moving the highly radioactive material out of South Carolina. State lawyers say in briefs filed this week with the 9th U.S. Circuit Court...
The Cruze cruises: General Motors assembly plant closing, maybe for good
LORDSTOWN, Ohio — The last compact car rolled off the line Wednesday at General Motors’ massive assembly plant in Ohio as the automaker began moving toward its future while workers wondered about theirs. GM is eliminating all 1,700 hourly positions, perhaps for good, at the factory near Youngstown, the first...
Judge eases wildfire safety plan for California utility
SAN FRANCISCO — A U.S. judge overseeing a criminal case against Pacific Gas & Electric Co. called the California utility’s efforts to prevent trees from hitting its power lines and starting wildfires “dismal” but scaled back his proposals to prevent its equipment from causing more blazes. Judge William Alsup said...
Stocks slide a 3rd straight day with health companies showing the way
Health care companies led U.S. stocks broadly lower Wednesday, giving the market its third straight loss. Technology and energy stocks also bore the brunt of the selling, offsetting gains in materials and utilities companies. Several retailers also rose. Smaller companies fell more than the rest of the market. The latest...
U.S. trade deficit jumps to 10-year high, including record gap with China
WASHINGTON — The U.S. trade deficit jumped nearly 19 percent in December, pushing the trade imbalance for all of 2018 to widen to a decade-long high of $621 billion. The gap with China on goods widened to an all-time record of $419.2 billion. The Commerce Department figures released Wednesday undermined...
Last car to roll off assembly line at Lordstown GM plant
LORDSTOWN, Ohio — A sprawling General Motors’ assembly plant near Youngstown will be idled on Wednesday after more than 50 years producing cars and other vehicles, a move that will eliminate nearly 1,700 hourly positions by months’ end. GM announced in December that Lordstown along with three plants in the...
