Wire stories category, Page 18
Dollar Tree left lead-tainted applesauce pouches on store shelves for weeks after recall, FDA says
Dollar Tree failed to effectively recall lead-tainted applesauce pouches linked to reports of illness in more than 500 children, leaving the products on some stores shelves for two months, the Food and Drug Administration said Tuesday. The FDA sent a warning letter to Dollar Tree this month and placed Negasmart,...
Southwest plane plunged within 400 feet of ocean near Hawaii
A Southwest Airlines Co. passenger flight in April came within 400 feet of slamming into the ocean off the coast of Hawaii after weather conditions forced pilots to bypass a landing attempt. The Boeing Co. 737 Max 8 jet briefly dropped at an abnormally high rate of more than 4,000...
Federal Reserve sees some progress on inflation but envisions just 1 rate cut this yearVideo
WASHINGTON — Federal Reserve officials said Wednesday that inflation has fallen further toward their target level in recent months but signaled that they expect to cut their benchmark interest rate just once this year. The policymakers’ forecast for one rate cut was down from a previous forecast of three, because...
Gas prices are falling. Experts point to mild demand at the pump ahead of summer travel
NEW YORK — Gas prices are once again on the decline across the country, bringing some relief to drivers now paying a little less to fill up their tanks. The national average for gas prices on Monday stood around $3.44, according to AAA. That’s down about 9 cents from a...
Kia recalls nearly 463,000 Telluride SUVs due to fire risk, urges consumers to park outside
NEW YORK — Kia America is recalling nearly 463,000 Telluride SUVs — and urging owners to park their cars outside and away from other structures until an issue posing a fire hazard is fixed. The front power seat motor on the affected Tellurides from the 2020-2024 model years might overheat...
Markets surge to record highs as Nvidia tops $3 trillion in total valueVideo
NEW YORK — Wall Street barreled to records Wednesday as its frenzy around artificial-intelligence technology keeps sending stocks higher. The rally sent the total market value of Nvidia, which has become the poster child of the AI boom, above $3 trillion for the first time. The S&P 500 climbed 1.2%...
What will become of The Epoch Times with its chief financial officer accused of money laundering?
NEW YORK — The arrest of an executive at The Epoch Times in a money-laundering scheme this week has drawn attention to a media outlet that has lived largely in the shadows since its founding in 2000 and a transformation during the Trump administration. Federal prosecutors in New York charged...
Oil producers led by Saudis extended supply cuts amid slack prices
FRANKFURT, Germany — Saudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven’t risen even amid turmoil in the Middle East and the start of the summer travel season. The OPEC+ alliance, made up of members...
T-Mobile to buy almost all of U.S Cellular in deal worth $4.4 billion with debt
T-Mobile is buying U.S. Cellular’s wireless operations and certain spectrum assets in a deal valued at $4.4 billion, and further consolidating the industry. T-Mobile would get more than 4 million new customers and control of U.S. Cellular’s wireless operations and about 30% of spectrum assets across several spectrum bands. T-Mobile...
Eli Lilly beefs up plan to expand manufacturing for popular drugs Zepbound, Mounjaro
Eli Lilly will spend more than $5 billion to expand an Indiana manufacturing site and eventually make more doses of its popular weight-loss and diabetes treatments, Zepbound and Mounjaro. The drugmaker said Friday that it was more than doubling its investment in a site near its Indianapolis headquarters. But it...
Independent booksellers continued to expand in 2023, with more than 200 new stores opening
NEW YORK — Three years ago, Erin Decker was a middle school librarian in Kissimmee, Florida, increasingly frustrated by the state’s book bans and worried that she couldn’t make a difference remaining in her job. So, she and fellow librarian Tania Galiñanes thought of a way to fight back. “We...
Government sues Ticketmaster owner and asks court to break up company’s monopoly on live events
WASHINGTON — The Justice Department sued Ticketmaster and its parent company Thursday, accusing them of running an illegal monopoly over live events in America and asking a court to break up the system that squelches competition and drives up prices for fans. Filed in federal court in Manhattan, the sweeping...
Buy now, pay later companies must adhere to credit card standards, consumer agency says
NEW YORK — Buy now, pay later companies must provide consumers with the same legal rights and protections as credit card lenders do, the Consumer Financial Protection Bureau said Wednesday in a new rule. That includes the right to demand a refund and to dispute transactions. The agency began an...
Nvidia’s profit soars, underscoring dominance in chips for artificial intelligence
SAN FRANCISCO — Nvidia on Wednesday overshot Wall Street estimates as its profit skyrocketed, bolstered by the chipmaking dominance that has made the company an icon of the artificial intelligence boom. Its net income rose more than sevenfold compared to a year earlier, jumping to $14.88 billion in its first...
Shutdown of fintech middleman Synapse freezes thousands of Americans’ deposits
NEW YORK — The bank accounts of tens of thousands of U.S. businesses and consumers have been frozen in the aftermath of the abrupt shutdown and bankruptcy of financial technology company Synapse, which acts as a middleman between financial technology companies and banks. Synapse filed for Chapter 11 bankruptcy protection...
Average U.S. vehicle age hits record 12.6 years as high prices force people to keep them longer
DETROIT — Cars, trucks and SUVs in the U.S. keep getting older, hitting a record average age of 12.6 years in 2024 as people hang on to their vehicles largely because new ones cost so much. S&P Global Mobility, which tracks state vehicle registration data nationwide, said Wednesday that the...
White House says FDIC chairman to step down following report on agency’s ‘toxic culture’
NEW YORK — The White House said Monday that the chairman of the Federal Deposit Insurance Corporation will step down, a departure that follows the release earlier this month of a damning report about the agency’s toxic workplace culture. The White House said Martin Gruenberg will step down once a...
Red Lobster seeks bankruptcy protection days after closing dozens of restaurants
Red Lobster, the casual dining chain that brought seafood to the masses with inventions like popcorn shrimp and “endless” seafood deals, has filed for Chapter 11 bankruptcy protection. The 56-year-old chain made the filing late Sunday, days after shuttering dozens of restaurants. “This restructuring is the best path forward for...
Bike shops boomed early in the pandemic. It’s been a bumpy ride for most ever since
For the nation’s bicycle shops, the past few years have probably felt like the business version of the Tour de France, with numerous twists and turns testing their endurance. Early in the pandemic, a surge of interest in cycling pushed sales up 64% to $5.4 billion in 2020, according to...
Inflation eased last month in the first slowdown of 2024Video
WASHINGTON — Led by lower food and auto prices, inflation in the United States cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve as well as President Joe Biden’s re-election team. Consumer prices rose 0.3% from March to...
Meme stocks are roaring again. This time may be different
NEW YORK — Meme stocks are shaking Wall Street once again. That shouldn’t be much of a surprise. Ever since bands of smaller-pocketed and novice investors began taking stock prices of downtrodden companies to breathtaking heights three years ago, the potential for more flareups has been obvious. Some things are...
Justice Department: Boeing violated deal that avoided prosecution after 737 Max crashes
WASHINGTON — Boeing has violated a settlement that allowed the company to avoid criminal prosecution after two deadly crashes involving its 737 Max aircraft, the Justice Department told a federal judge on Tuesday. It is now up to the Justice Department to decide whether to file charges against the aircraft...
TikTok content creators sue the U.S. government over law that could ban the popular platform
Eight TikTok content creators sued the U.S. government on Tuesday, issuing another challenge to the new federal law that would ban the popular social media platform nationwide if its China-based parent company doesn’t sell its stakes within a year. Attorneys for the creators argued in the lawsuit that the law...
Red Lobster closes dozens of locations across the country just months after ‘endless shrimp’ losses
NEW YORK — Dozens of Red Lobster locations across the U.S. are on the chopping block. Restaurant liquidator TAGeX Brands announced this week that it would be auctioning off the equipment of over 50 Red Lobster locations that were recently closed as part of the seafood chain’s “footprint rationalization.” The...
Small, well-built Chinese EV called the Seagull poses a big threat to the U.S. auto industryVideo
LIVONIA, Mich. — A tiny, low-priced electric car called the Seagull has American automakers and politicians trembling. The car, launched last year by Chinese automaker BYD, sells for around $12,000 in China, but drives well and is put together with craftsmanship that rivals U.S. electric vehicles that cost three times...
