Wire stories category, Page 21
Doing business in China is growing tougher, more uncertain, European business group says
BEIJING — Uncertainty and “draconian regulations” have drastically raised risks for foreign businesses in China, a report by a European business group said Wednesday. The lengthy paper by the European Union Chamber of Commerce in China urges China’s leaders to do more to address concerns that it says have “grown...
Reddit is preparing to sell shares to the public. Here’s what you need to know
SAN FRANCISCO — Reddit, that vast, lively and sometimes chaotic repository of internet discussion, is expected to carry a valuation up to $6.4 billion when it conducts its initial public offering on the stock market. The offering also makes Reddit one of the first online companies to offer shares to...
Crafts retailer Joann files for Chapter 11 bankruptcy as consumers cut back on pandemic-era hobbies
NEW YORK — Fabric and crafts retailer Joann has filed for Chapter 11 bankruptcy protection, as consumers continue to cut back on discretionary spending and some pandemic-era hobbies. In a Monday statement, the Hudson, Ohio-based company said that it expected to emerge from bankruptcy as early as the end of...
Boeing plane found to have missing panel after flight from California to Oregon
PORTLAND, Ore. — A Boeing 737-800 was found to have a missing panel after a United Airlines flight arrived at its destination in southern Oregon on Friday, airport officials said. United Flight 433 left San Francisco at 10:20 a.m. and landed at Rogue Valley International-Medford Airport in Medford shortly before...
Home sellers cutting list prices as spring buying season starts with higher mortgage rates
LOS ANGELES — More homeowners eager to sell their home are lowering their initial asking price in a bid to entice prospective buyers as the spring homebuying season gets going. Some 14.6% of U.S. homes listed for sale last month had their price lowered, according to Realtor.com. That’s up from...
February retail sales up 0.6%, but some cracks emerge in what has been a driving force for economy
NEW YORK — Shoppers picked up their spending a bit in February after a pullback the previous month, reflecting the mixed feelings Americans have in an economy where prices are up, but jobs are plentiful. Retail sales rose 0.6% last month after falling a revised 1.1% in January, dragged down...
TikTok won’t be banned if it finds new owner, lawmakers say. But that’s easier said than done.
U.S. lawmakers are threatening to ban TikTok but also say they are giving its Chinese parent company a chance to keep it running. The premise of a bipartisan bill headed for a vote in the U.S. House of Representatives is that TikTok fans in the U.S. can keep scrolling through...
Most automated driving systems are lousy at making sure drivers pay attention, insurance group says
DETROIT — Most electronic systems that take on some driving tasks for humans don’t adequately make sure drivers are paying attention, and they don’t issue strong enough warnings or take other actions to make drivers behave, according to an insurance industry study published Tuesday. Only one of 14 partially automated...
Boeing to face ‘enormous’ scrutiny after mishaps, Transportation Secretary Pete Buttigieg says
U.S. Transportation Secretary Pete Buttigieg said the Federal Aviation Administration will rigorously assess The Boeing Co. after the blowout of a fuselage section on an Alaska Airlines flight in January. To maintain airline safety, “that means an enormous amount of rigor in dealing with Boeing, in dealing with any regulatory...
Federal judge orders U.S. minority business agency to serve all races
NEW YORK — A federal judge in Texas has ordered a 55-year-old U.S. agency that caters to minority-owned businesses to serve people regardless of race, siding with white business owners who claimed the program discriminated against them. The ruling was a significant victory for conservative activists waging a far-ranging legal...
Federal safety officials say Boeing fails to meet quality-control standards in manufacturing
The Federal Aviation Administration said Monday its audit of 737 Max manufacturing at airplane-maker Boeing and its key supplier turned up “multiple instances” of them failing to make sure manufacturing met quality standards. The FAA said that it found “non-compliance issues” with Boeing’s manufacturing-process control and parts handling and storage....
Trader Joe’s chicken soup dumplings recalled for possibly containing permanent marker plastic
NEW YORK — More than 61,000 pounds of steamed chicken soup dumplings sold at Trader Joe’s are being recalled for possibly containing hard plastic, U.S. regulators announced Saturday. The Agriculture Department’s Food Safety and Inspection Service noted that the now-recalled dumplings, which are produced by the California-based CJ Foods Manufacturing...
Some doorbell cameras sold on Amazon and other online sites have major security flaws, report says
NEW YORK — Some doorbell cameras sold by Amazon and other online retailers have security flaws that could allow bad actors to view footage from the devices or control them completely, according to an investigation published Thursday by Consumer Reports. Researchers from the product-review organization said they found major vulnerabilities...
Anheuser-Busch, Teamsters reach labor agreement that avoids U.S. strike
Budweiser brewer Anheuser-Busch has reached a contract agreement with the Teamsters union that avoids a strike at its U.S. plants. The union had threatened a strike at the brewer’s 12 U.S. plants if an agreement on a new five-year contract wasn’t reached by 11:59 p.m. EST Thursday. The Teamsters union...
Macy’s to close 150 stores as sales slip as it pivots to luxury at Bloomingdale’s, Blue Mercury
NEW YORK — Macy’s will close 150 stores over the next three years and 50 by the end of 2024, the department store said Tuesday after posting a fourth quarter loss and declining sales. At the same time the company signaled a pivot to luxury. It said it would open...
Consumers are increasingly pushing back against price increases — and winning
WASHINGTON — Inflation has changed the way many Americans shop. Now, those changes in consumer habits are helping bring down inflation. Fed up with prices that remain about 19%, on average, above where they were before the pandemic, consumers are fighting back. In grocery stores, they’re shifting away from name...
AT&T says some customers will receive credits as a result of network outage
AT&T said that it plans to reimburse customers for the nearly 12-hour network outage that took place Feb. 22. The company announced in a news release late Saturday that it will issue a $5 credit to “potentially impacted” AT&T Wireless customers, which it says is the “average cost of a...
Warren Buffett uses annual letter to warn about Wall Street
OMAHA, Neb. — Warren Buffett credited his longtime partner — the late Charlie Munger — with being the architect of the Berkshire Hathaway conglomerate he has received the credit for leading and warned shareholders in his annual letter Saturday not to listen to Wall Street pundits or financial advisers who...
Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyers
LOS ANGELES — Sales of previously occupied U.S. homes rose in January as homebuyers were encouraged by easing mortgage rates and a modest pickup in properties on the market. Existing home sales rose 3.1% last month from December to a seasonally adjusted annual rate of 4 million, the National Association...
Boeing ousts head of 737 jetliner program weeks after panel blowout on a flight over Oregon
SEATTLE — Boeing said Wednesday that the head of its 737 program is leaving the company in an executive shake-up weeks after a door panel blew out on a flight over Oregon, renewing questions about safety at the company. Boeing announced the departure of Ed Clark, who had been with...
American Airlines is raising bag fees, changing how customers earn frequent-flyer points
DALLAS — American Airlines is raising the cost of checking bags and it is making other changes to push customers to buy tickets directly from the airline if they want to earn frequent-flyer points. The airline said Tuesday that checking a bag on a domestic flight will rise from $30...
Capital One to buy Discover for $35 billion in deal that combines major U.S. credit card companies
NEW YORK — Capital One Financial said it will buy Discover Financial Services for $35 billion, in a deal that would bring together two of the nation’s credit card companies as well as potentially shake up the payments industry, which is largely dominated by Visa and Mastercard. Under the terms...
Ford CEO says company will rethink where it builds vehicles after last year’s autoworkers strike
DETROIT — Last fall’s contentious United Auto Workers’ strike changed Ford’s relationship with the union to the point where it will “think carefully” about where it builds future vehicles, Ford’s top executive said Thursday. CEO Jim Farley told the Wolfe Research Global Auto Conference in New York that the company...
Less is more? Consumers have fewer choices as brands prune their offerings to focus on best sellers
NEW YORK — How much choice is too much? Apparently for Coca-Cola, it’s about 400 different types of drinks. That’s why the beverage company recently decided to discontinue half of them, shedding brands like Tab, Zico coconut water, Diet Coke Feisty Cherry and Odwalla juices but still leaving about 200...
Wealth disparities by race grew during the pandemic, despite income gains, report shows
NEW YORK — A strong performance in financial markets, particularly an outsize gain for the stock market in 2021, helped entrench existing trends of wealth inequality during the pandemic, new data released this week show. According to a report from the New York Federal Reserve Bank, the real net worth...
