Wire stories category, Page 120
Fed Chairman Powell says prosperity not felt in all areas
ITTA BENA, Miss. — Federal Reserve Chairman Jerome Powell traveled Tuesday to a historically black university in the Mississippi Delta to deliver a message that the nation’s prosperity has not been felt in many such areas around the country. Powell said that many rural areas had been left out and...
Stocks surge on U.S.-China trade deal optimism
U.S. stocks finished broadly higher Tuesday as investors grew more optimistic about the prospects for a resolution to the costly trade dispute between the United States and China. Technology, financial and health care stocks powered much of the rally, which gave the benchmark S&P 500 index its biggest gain this...
U.S. job openings jump to record high of 7.3 million
WASHINGTON — U.S. employers posted the most open jobs in December in the nearly two decades that records have been kept, evidence that the job market is strong despite several challenges facing the economy. The Labor Department said Tuesday that job openings jumped 2.4 percent in December to 7.3 million....
Record 7 million Americans are 3 months behind on car payments, a red flag for economy
A record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis era. Economists warn this is a red flag. Despite the strong economy and low unemployment...
U.S. Steel cites Trump in resuming construction project
BIRMINGHAM, Ala. — U.S. Steel Corp. says it’s restarting construction on an idled manufacturing facility in Alabama, and it’s giving some of the credit to President Donald Trump’s trade policies. The Pittsburgh-based company says Trump’s “strong trade actions” are partly responsible for the resumption of work on an advanced plant...
Millions of Americans could be surprised as their tax refunds shrink
Millions of Americans filling out their 2018 taxes are likely to be surprised that their refund is smaller than expected or that they owe money to the Internal Revenue Service after years of receiving refunds. People are already taking to social media to vent their anger, and many are blaming...
Retail woes revealed in numbers
Until this month, it seemed as though U.S. retail employment had recovered from its apocalypse — the wave of store closures headlined by last year’s implosion of Toys R Us — and was nearing another record high. Then came the latest jobs report. Upon further review, the Labor Department revealed...
Amazon reconsidering N.Y. headquarters site amid opposition
Amazon.com is reconsidering its plan to bring 25,000 jobs to a new campus in New York City following a wave of opposition from local politicians, according to two people familiar with the company’s thinking. The company has not leased or purchased office space for the project, making it easy to...
FDA says Walgreens has worst record of all pharmacies on selling tobacco to kids
Walgreens has the worst track record among all pharmacies when it comes to selling tobacco products to minors, the U.S. Food and Drug Administration said Thursday. The Deerfield, Ill.-based pharmacy chain has racked up nearly 1,800 violations since 2010 for selling tobacco products to kids, FDA Commissioner Scott Gottlieb said....
‘Creepy’ napkins on planes spur apologies from Delta, Coke
Napkins with printed slogans encouraging airline passengers to connect with fellow travelers must have seemed like a great idea to marketers. But some actual passengers were not so quick to embrace the idea of slipping personal information to a stranger. Paper napkins with Coca-Cola branding made an appearance on some...
AAA: Cold weather can cut electric car range by 40 percent
DETROIT — Cold temperatures can sap electric car batteries, temporarily reducing their range by more than 40 percent when interior heaters are used, a new study found. The study of five electric vehicles by AAA also found that high temperatures can cut into battery range, but not nearly as much...
BB&T, SunTrust merge to create nation’s 6th largest bank
NEW YORK — Southern banking giants BB&T and SunTrust announced they would merge in a $66 billion deal, the first big bank merger since the chaos of the 2008 financial crisis. The deal would create yet another financial titan in the United States. The combined company will be the sixth-largest...
Arconic names Chairman Plant CEO to oversee review after spurning Apollo
Arconic named Chairman John Plant to serve as chief executive officer, ousting Chip Blankenship just a little more than a year after he took the helm at the embattled manufacturer. Plant, the company’s fourth CEO in less than two years, is expected to serve in the top post for a...
Report shows economic clout of Kentucky bourbon over decade
FRANKFORT, Ky. — A decade ago, bourbon barons poured bottles of their precious amber liquid on the Kentucky Capitol steps to protest a looming tax hike. On Wednesday, industry officials stood with lawmakers to cheer another round of growth in the spirits sector. The cause for celebration was a new...
Craigslist founder donates $15 million for journalism ethics
PASADENA, Calif. — The founder of Craigslist says he will donate $15 million to Columbia University and the Poynter Institute for separate efforts promoting ethics in journalism. The announcement on Wednesday establishes Craig Newmark in the forefront of philanthropists focused on journalism, a cause he’s supported with some $85 million...
United to pursue high-fare travelers with more premium seats
United Airlines will woo high-fare passengers by retrofitting more than 100 planes to add more premium seats on key routes. The airline also plans to start using a new 50-seat jet with mostly premium seats on some key business-travel routes. United announced the moves Wednesday. They are part of an...
Trade hawks quietly bristle as Trump’s China deadline approaches
One of President Trump’s most persistent economic promises has been to rewrite the U.S. relationship with China. Yet as he approaches a potential deal, some of the very hawks who have cheered on Trump’s trade war already fear he may end up falling short. With less than a month before...
Gannett board rejects hostile takeover bid. But that may be just the start.
Gannett’s board of directors said Monday that it had rejected a $1.36 billion buyout bid from Digital First Media, questioning the would-be buyer’s motives and accusing it of trying to conceal the company’s “inability to finance and complete” the deal. “After careful review and consideration, conducted in consultation with its...
Trump to tap David Malpass, critic of World Bank, to lead it
WASHINGTON — The World Bank may be poised for a shake-up with President Trump planning to nominate David Malpass, who has been a critic of the bank, to lead the institution focused on global poverty. Malpass’ selection was confirmed by a senior administration official who spoke on condition of anonymity...
Crypto CEO dies holding only passwords that can unlock millions in customer coins
Digital-asset exchange Quadriga CX has a $200 million problem with no obvious solution — just the latest cautionary tale in the unregulated world of cryptocurrencies. The online startup can’t retrieve about $145 million in Bitcoin, Litecoin, Ether and other digital tokens held for its customers, according to court documents filed...
Sanders to pharma firm: Why are you charging $375,000 for life-saving drug?
Sen. Bernie Sanders, I-Vt., has sent a letter to Florida-based Catalyst Pharmaceuticals Inc. demanding to know why it is charging $375,000 for a drug that treats a rare disease. In the letter, released Monday, Sanders asked Catalyst CEO Patrick McEnany how many patients “will suffer or die” due to the...
Fiat Chrysler recalls over 660K trucks; steering could fail
DETROIT — Fiat Chrysler is recalling over 660,000 heavy-duty trucks worldwide because a loose nut can cause a loss of steering control. The recall covers Ram 3500 pickups from 2013 through 2017, as well as 2500 pickups and 3500 Chassis cabs from 2014 through 2017. The company says it’s aware...
S&P 500 win streak marks 5th day on solid company earnings
Technology companies helped lead stocks broadly higher on Wall Street Tuesday as strong earnings reports from several companies put investors in a buying mood. The rally, which briefly wavered around midday, extended the benchmark S&P 500 index’s winning streak to five days. Technology stocks, which have lagged the market in...
Lunar New Year allows U.S. companies to find prosperity too
As Asian-Americans across the U.S. mark the Lunar New Year on Tuesday, they can celebrate by eating Mickey Mouse-shaped tofu, sporting a pair of Year of the Pig-inspired Nike shoes and by snacking on pricey cupcakes. The delicacies and traditions that once made a generation of Asian-Americans feel foreign are...
Messaging platform provider Slack says it’s filed to go public
Slack Technologies Inc. said it has filed confidentially with regulators to list the company’s shares in the United States. The messaging platform company didn’t provide details of its plans in a statement Monday. Slack plans to forgo a traditional initial public offering and instead intends to sell its shares to...
