Wire stories category, Page 119
Another ceasefire: Can the U.S. and China end their trade war?
WASHINGTON — Relief swept across world financial markets Monday after President Donald Trump pushed back a March 2 deadline in a trade dispute with China. But the respite might not last. The world’s two biggest economies have squared off over Beijing’s aggressive campaign to turn Chinese companies into world leaders...
Your phone could soon recognize you based on how you move or walk
Within 18 months, your phone may be able to identify you based on the gait of your walk, the tension in your hand or the way your thumb moves across the touch screen. That’s the Pentagon’s plan: It’s in the final phase of testing technology that will reduce smartphone users’...
SEC wants Tesla CEO Elon Musk held in contempt for tweeting
SAN FRANCISCO — Tesla CEO Elon Musk’s tweeting habits have triggered another legal challenge from stock market regulators worried about him using his Twitter account to mislead investors. The latest dust-up emerged late Monday when the Securities and Exchange Commission asked a federal court in New York to hold Musk...
Stocks rise broadly after Trump postpones tariff increase
NEW YORK — Stocks moved broadly higher on Wall Street after President Donald Trump agreed to hold off on raising tariffs on Chinese goods, which would have escalated a damaging trade war between the world’s two largest economies. Investors had been growing increasingly optimistic over the last two weeks that...
Warren Buffett praises potential successors, but he has no plans to retire
OMAHA, Neb. — Billionaire Warren Buffett says the economy continues growing although the rate of improvement has slowed, and the ongoing U.S. trade dispute remains a concern. Buffett appeared on CNBC Monday after releasing his annual letter to Berkshire Hathaway shareholders over the weekend. “Right now things look fine,” said...
China’s Huawei unveils 5G phone with folding screen
BARCELONA, Spain — China’s Huawei unveiled a new folding-screen phone on Sunday, joining the latest trend for bendable devices as it challenges the global smartphone market’s dominant players, Apple and Samsung. Huawei revealed its Mate X phone on the eve of MWC Barcelona, a four-day showcase of mobile devices, as...
Ground-breaking electric Chevrolet Volt runs out of juice
DETROIT — As their company was swirling around the financial drain in the early 2000s, General Motors executives came up with an idea to counter its gas-guzzling image and point the way to transportation of the future: an electric car with a gas-engine backup that could travel anywhere. At Detroit’s...
Stocks climb, giving S&P 500 its 4th straight weekly gain
Technology and health care companies led U.S. stocks higher Friday, erasing some of the market’s losses from a day earlier and giving the benchmark S&P 500 its fourth straight weekly gain. The broad rally came as investors grew hopeful that the latest round of talks between the U.S. and China...
Kraft Heinz plunges near record low on $15.4 billion writedown
Kraft Heinz Co. recorded a $15.4 billion non-cash charge to write down assets including some of its most well-known brands, a striking acknowledgment that changing consumer tastes have destroyed the value of some of the company’s most iconic products. The packaged food giant’s charge to reduce the goodwill value of...
‘Ugly produce’ trend may have limits, as grocers end tests
URBANDALE, Iowa — Is the “ugly produce’” trend already reaching the end of its shelf life in supermarkets? Walmart and Whole Foods in recent years tried selling some blemished fruits and vegetables at a discount, produce they said might otherwise be trashed because it’s not quite the right size, shape...
U.S. home sales tumbled 1.2 percent in January
WASHINGTON — U.S. home sales fell 1.2 percent in January to their worst pace in more than three years, as persistent affordability problems have put a harsh chill in the real estate market. The National Association of Realtors said Thursday that sales of existing homes declined 1.2 percent to a...
Nestlé, AT&T pull YouTube ads over pedophile concerns
Several companies, including AT&T and Nestlé, are pulling advertisements from YouTube over concerns about inappropriate comments on videos of children. A video from a popular YouTuber and a report from Wired showed that pedophiles have made unseemly comments on innocuous videos of kids. The comments reportedly included timestamps that showed...
America’s shale boom keeps rolling even as wildcatters save cash
America’s surging shale oil production shows little sign of abating, despite industrywide spending cuts, as explorers learn to do more with less. Almost all the independent producers have reduced their budgets for 2019, but many still expect to deliver double-digit growth in production this year, fourth-quarter earnings reports show. Growth...
U.S. stocks cap day of listless trading with modest gains
Wall Street capped another day of listless trading Wednesday with a slight gain, extending the market’s winning streak to a third day. Financial, materials and industrial companies accounted for much of the gain, outweighing losses in health care and real estate stocks as investors reviewed the latest batch of company...
Walmart flexes in the fourth quarter, beats all expectations
NEW YORK — Walmart defied a gloomy government retail sales report for December, delivering fiscal fourth-quarter profits and sales that beat Wall Street expectations. The world’s largest retailer also enjoyed another quarter of surging e-commerce sales during the critical holiday period as it expanded its online assortment and services. Shares...
U.S. stocks bounce back from wobbly start to extend gains
Stocks shook off an early wobble on Wall Street on Tuesday, finishing modestly higher and extending the market’s gains into a fourth week. Solid earnings from Walmart encouraged investors to bid up other retailers and consumer goods companies. Communication services stocks and banks also contributed to the broad gains. Homebuilders...
Tariff uncertainty could hurt auto industry more than plant closures in 2019
An auto industry that many experts think already is overdue for a slowdown just got a major dose of uncertainty that could reduce investment in new technologies and vehicles. The Trump administration dealt automakers a wild card by reportedly deciding not to reveal the Commerce Department’s recommendations on whether to...
Amazon aims to cut its carbon footprint
NEW YORK — Amazon, which ships millions of packages a year to shopper’s doorsteps, says it wants to be greener. The online retail giant announced plans Monday to make half of all its shipments carbon neutral by 2030. To reach that goal, the online retail giant says it will use...
‘Digital gangsters’: U.K. wants tougher rules for Facebook
LONDON — British lawmakers issued a scathing report Monday that calls for tougher rules to keep Facebook and other tech firms from acting like “digital gangsters” and intentionally violating data privacy and competition laws. The report on fake news and disinformation on social media sites followed an 18-month investigation by...
Gone in a New York minute: How the Amazon deal fell apart
NEW YORK — In early November, word began to leak that Amazon was serious about choosing New York to build a giant new campus. The city was eager to lure the company and its thousands of high-paying tech jobs, offering billions in tax incentives and lighting the Empire State Building...
Payless ShoeSource to shutter all of its remaining U.S. stores
NEW YORK — Payless ShoeSource is shuttering all of its 2,100 remaining stores in the United States and Puerto Rico, joining a list of iconic names like Toys R Us and Bon-Ton that have closed down in the last year. The Topeka, Kan.-based chain said Friday it will hold liquidation...
Amazon dumped New York, but cities still wooing the company
Amazon’s breakup with New York was still fresh when other cities started sending their own valentines to the online giant. Officials in Newark, New Jersey, one of the 18 finalists that Amazon rejected in November when it announced plans to put its new headquarters in New York and northern Virginia,...
Google will expand finance team to Chicago, adding ‘hundreds’ of jobs
CHICAGO — Google plans to create “hundreds” of new jobs in Chicago this year, expanding the office it already calls its Midwest headquarters. The tech giant employs more than 1,000 people at its Chicago office, which opened as a sales outpost in 2000 and has grown to include engineers and...
FedEx jolts Wall Street with surprise exit of CEO’s deputy
FedEx Corp. threw Wall Street for a loop, announcing the resignation of Fred Smith’s top deputy just weeks after he joined the company’s board. Raj Subramaniam will take over as president and chief operating officer March 1, replacing David Bronczek, the shipping giant said in a statement Thursday. Bronczek, 64,...
Amazon’s stormy week will blow over, but debris will stay
SAN FRANCISCO — It’s been a complicated few weeks for Amazon, what with its abrupt pullout from a massive New York City development, extortion claims related to intimate photos taken by its founder Jeff Bezos and increasing antitrust scrutiny in Europe . For now, these events seem unlikely to pose...
