Wire stories category, Page 122
Under Armour is blasting off into a new market —spacesuits
Under Armour Inc. is teaming up with Richard Branson’s Virgin Galactic to create the next generation of apparel and footwear for pilots and passengers on trips to space. The athleticwear company will also provide uniforms for Virgin Galactic employees at its Spaceport America operations center in New Mexico, and will...
Tech rises as stocks regain some of week’s losses
NEW YORK — Stocks closed higher on Wall Street on Friday, recovering a chunk of their losses from earlier in the week. Technology and industrial companies jumped. Traders took a brighter view on the economy, and U.S. companies continued to report solid results for the fourth quarter. Energy and consumer-focused...
Canada auto workers seek boycott of GM vehicles from Mexico
DETROIT — The Canadian auto workers union is asking people in Canada and the U.S. to boycott General Motors vehicles made in Mexico. The Unifor union is asking people not to buy trucks or SUVs with vehicle identification numbers that start with the number three, which signify that they are...
‘The milkman model’: Big brand names try reusable containers
A new shopping platform announced Thursday at the World Economic Forum aims to change the way we buy many brand-name products. Loop, as the platform is called, would do away with disposable containers for things like shampoo and laundry detergent from some of the world’s biggest manufacturers. Instead, those goods...
Chefs and truck drivers beware: Robots coming for your jobs
Robots aren’t replacing everyone, but a quarter of U.S. jobs will be severely disrupted as artificial intelligence accelerates the automation of existing work, according to a new Brookings Institution report. The report, published Thursday, says roughly 36 million Americans hold jobs with “high exposure” to automation — meaning at least...
Q&A: How new law, shutdown can impact tax season
Tax season is almost here, and this one could be tricky. It’s the first year that taxpayers will be filing under the massive tax law overhaul pushed through by the Trump administration. And a monthlong partial shutdown of the federal government threatens to complicate things further for some. Tax filing...
BuzzFeed, HuffPost feel pinch in faltering digital-news economy
BuzzFeed, the progenitor of both serious news and viral listicles and quizzes, will lay off about 15 percent of its staff in the latest sign of financial turbulence for once-highflying digital-media outlets. People at the New York-based publisher said the cuts will affect about 215 employees spread across all departments,...
Ford Motor Co. posts 1st quarterly loss in 2 years
DEARBORN, Mich. — Ford Motor Co., which has struggled overseas and saw U.S. sales fall last year, reported its first quarterly net loss in two years Wednesday. The Dearborn, Mich., company said it lost $116 million, or 3 cents a share, in the fourth quarter, compared with a $2.52 billion...
Verizon cutting about 800 jobs in troubled media business
NEW YORK — Verizon is cutting about 800 jobs, or 7 percent of its media and advertising employees, as it reorganizes the troubled division. The wireless company had hoped to create an ad business that could compete with Google and Facebook. It spent about $10 billion buying up internet pioneers...
Stocks end day with meager gains
U.S. stock indexes spent Wednesday drifting and finished with small gains. While big companies continue to report strong profit growth, investors aren’t sure how much longer it will last. The S&P 500 index rallied 0.8 percent in the morning after fourth-quarter earnings reports from major companies including IBM, consumer products...
Forgoing staffers, many businesses turn to freelancers
NEW YORK — It hasn’t been lost on small business owners that Uber and other ride-sharing services are enormously successful without having employees doing the work. It’s one of the reasons why small companies are forgoing employees in favor of independent contractors. Todd Miller transformed his small business a year...
Analysis: Falling home sales not helping middle-class buyers
WASHINGTON — When home sales weaken, prices typically do, too, and buyers benefit. Not quite this time. Home purchases in many areas of the country have dipped, and price gains have slowed. Yet a rising number of middle-class Americans are finding that home ownership is unaffordable. Why? Mortgage rates are...
Erin Brockovich urges California to stop PG&E bankruptcy
SACRAMENTO, Calif. — Consumer activist Erin Brockovich, who famously took on Pacific Gas & Electric Co. in the 1990s, urged California lawmakers Tuesday not to let the utility go bankrupt because it could mean less money for wildfire victims. “I’m mad. I think we should all be mad,” Brockovich said...
Stocks sink on growth fears, possible snag in trade talks
NEW YORK — Stocks fell sharply Tuesday following new signs the global economy is weakening and reports of difficulties in trade talks between the United States and China. That broke a four-day winning streak for U.S. indexes. Major global indexes traded lower after the International Monetary Fund trimmed its economic...
Arconic no longer considering sale, shares slide
NEW YORK — Shares of Arconic are sliding at the opening bell after the aluminum maker said it’s no longer exploring a sale. The company formerly known as Alcoa had considered a sale over the past year, but said Tuesday that it didn’t receive any offers it thought was in...
Survey: CEO pessimism on economy spreads after upbeat 2018
DAVOS, Switzerland — A survey of hundreds of corporate leaders shows “a record jump in pessimism” about the world economy, with sentiment doused by trade spats, a global downturn and fading benefits from U.S. President Donald Trump’s tax cuts. Consulting firm PwC says the latest edition of its annual survey...
China grants Ivanka Trump 5 trademarks amid trade talks
SHANGHAI — The Chinese government has granted Ivanka Trump’s company preliminary approval for another five trademarks this month, as her father’s administration pushes ahead on trade negotiations with China. Four trademarks, including child care centers, sunglasses and wedding dresses, were approved on Sunday. A fifth, covering brokerage, charitable fundraising and...
Deborah Kearns: The 4 most common mortgage and real estate scams and how to stop them
The last thing consumers should have to worry about is being scammed when they buy or rent a home, or consider refinancing options. Unfortunately, criminals are getting more creative in how they target their victims, leading to major financial headaches for their unsuspecting victims. In 2017 alone, 9,645 victims reported...
World Economic Forum warns of impact of global tensions
LONDON — International tensions and nationalist politics can further weigh on the global economy this year and hinder efforts to deal with big issues such as climate change, the organizers of this week’s Davos forum warned last weekWednesday. In its annual Global Risks Report, the World Economic Forum said the...
On road to make an affordable car, Tesla cuts jobs
Tesla, recognizing as imperative its ability to produce a cheaper electric car, told employees Friday that it must cut 7 percent of its workforce. Tesla’s cheapest model right now is the $44,000 Model 3, and it needs to broaden its customer base to survive. “Looking ahead at our mission of...
Nissan to cut up to 700 contract workers in Mississippi
JACKSON, Miss. — Nissan Motor Co. says it’s cutting up to 700 contract workers at its Mississippi assembly plant, citing slow sales for Titan pickup trucks and vans. The company employs 6,400 employees and contractors in Canton, Miss. The move follows Nissan’s December announcement that it’s cutting 1,000 jobs at...
Microsoft pledges $500M to tackle Seattle housing crisis
SEATTLE — Microsoft pledged $500 million to address homelessness and develop affordable housing in response to the Seattle region’s widening affordability gap. Most of the money will be aimed at increasing housing options in the Puget Sound region for low- and middle-income workers at a time when they’re being priced...
Sears staves off liquidation, stores to remain open
NEW YORK — Sears will live on— at least for now. The company’s chairman and largest shareholder, Eddie Lampert, won a bankruptcy auction for Sears, averting liquidation of the iconic chain, according to a source familiar with the negotiations. The person agreed to speak on condition of anonymity because they...
PG&E bankruptcy looms, CEO to exit as fire costs dwarf cash
PG&E Corp. said it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities of $30 billion or more, gutting its share price and prompting the departure of its chief executive officer. The San Francisco-based company said it intends to reorganize under Chapter 11...
Netflix raising prices for 58M U.S. subscribers as costs rise
SAN FRANCISCO — Netflix is raising its U.S. prices by 13 percent to 18 percent, its biggest increase since the company launched its streaming service 12 years ago. Its most popular plan will see the largest hike, to $13 per month from $11. That option offers high-definition streaming on up...
