Wire stories category, Page 22
Average mortgage rate edges higher, but remain in the mid-6% range
LOS ANGELES — The average long-term U.S. mortgage rate edged higher this week, reflecting a recent uptick in the 10-year Treasury yield. The average rate on a 30-year mortgage rose to 6.64% from 6.63% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.12%. “Mortgage...
Mexico overtakes China as the leading source of goods imported by U.S.
WASHINGTON — For the first time in more than two decades, Mexico last year surpassed China as the leading source of goods imported by the United States. The shift reflects the growing tensions between Washington and Beijing as well as U.S. efforts to import from countries that are friendlier and...
Adam Neumann, ousted founder of WeWork, wants to buy back the office sharing company
NEW YORK — Adam Neumann, the ousted co-founder of WeWork, is exploring a deal to buy back the office sharing company after expressing dismay over its bankruptcy process. In a letter obtained by The Associated Press this week, an attorney representing Neumann and Flow Global Holdings said that WeWork’s former...
IRS expects to collect hundreds of billions more in overdue and unpaid taxes thanks to new funding
WASHINGTON — The IRS is poised to take in hundreds of billions of dollars more in overdue and unpaid taxes than previously anticipated, according to new analysis released Tuesday by the Treasury Department and the IRS. Tax revenues are expected to rise by as much as $561 billion from 2024...
Where the jobs are: Strong hiring in most industries has far outpaced high-profile layoffs
WASHINGTON — Blockbuster job growth in the past several months has coincided with high-profile layoff announcements by a number of large companies. So, how are both occurring at the same time? It’s not as contradictory as it might seem. Recent job cuts have been concentrated mainly in just a few...
Federal Reserve signals that interest rate cuts aren’t imminent and leaves them unchanged for now
WASHINGTON — The Federal Reserve indicated Wednesday that it’s nearing a long-awaited shift toward cutting interest rates, a sign that its officials have grown confident that they’re close to fully taming inflation. But the Fed also signaled that the first rate cut is likely months away. The central bank kept...
Bud brings back Clydesdales as early Super Bowl ad releases offer up nostalgia, humor, celebritiesVideo
NEW YORK — Budweiser is bringing back some familiar characters this year in its Super Bowl ad. The perennial Super Bowl marketer is bringing back fan-favorite characters the Clydesdales and a Labrador — a nod to the Labradors that starred in earlier commercials during advertising’s biggest night. Some advertisers are...
Elon Musk cannot keep Tesla pay package worth $55 billion, judge rules
DOVER, Del. — Elon Musk is not entitled to landmark compensation package awarded by Tesla’s board of directors that is potentially worth more than $55 billion, a Delaware judge ruled Tuesday. The ruling by Chancellor Kathaleen St. Jude McCormick comes more than five years after a shareholder lawsuit targeted Tesla...
GM made $10B last year despite autoworkers strike, says it will bring back plug-in hybrids to US
DETROIT — General Motors’ net income rose 12% last year despite losing more than $1 billion when many of its plants were shut down by a six-week autoworkers’ strike. The company also announced that it will bring back some plug-in gas-electric hybrids as electric vehicle sales growth slows. The Detroit...
U.S. job openings rose in December, pointing to a still-durable labor market
WASHINGTON — America’s employers posted 9 million job openings in December, an increase from November and another sign that the U.S. job market remains resilient despite the headwind of higher interest rates. The number of openings was up from November’s 8.9 million, which itself was revised up in Tuesday’s report...
Norfolk Southern becomes 1st big freight railway to let workers use anonymous federal safety hotline
OMAHA, Neb. — About 1,000 engineers and conductors who work for Norfolk Southern will soon be able to report safety concerns anonymously through a federal system without any fear of discipline. Norfolk Southern is the first of the six major freight railroads to follow through on promises made in the...
With tax season underway, here are some tips to navigate it
NEW YORK — Tax season began Monday and for many people filing U.S. tax returns — especially those doing it for their first time — it can be a daunting task that’s often left to the last minute. But if you want to avoid the stress of the looming deadline,...
Small biz owners scale back their office space or go remote altogether. Some move to the suburbs
NEW YORK — After 46 years, Steve Replin has decided to give up his office space. Replin, who has a law practice and acts as an alternative lender in Denver, is adapting to the changing preferences of clients, who would rather conduct business online, or in a less professional setting...
Inflation has slowed. Now the Federal Reserve faces expectations for rate cuts
WASHINGTON — Chair Jerome Powell will enter this week’s Federal Reserve meeting in a much more desirable position than he likely ever expected: Inflation is getting close to the Fed’s target rate, the economy is still growing at a healthy pace, consumers keep spending and the unemployment rate is near...
Alaska Airlines has begun flying Boeing Max 9 jetliners again for the first time Friday
Alaska Airlines has begun flying Boeing 737 Max 9 jetliners again for the first time since they were grounded after a panel blew out of the side of one of the airline’s planes. The airline said in a statement that it has completed its final inspection of their group of...
Economy grew at a surprisingly strong 3.3% pace last quarter, pointing to continued resilienceVideo
WASHINGTON — The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the Commerce Department said the gross domestic product —...
Auto dealers up campaign urging Biden administration to halt EPA tailpipe emission limits regulation
DETROIT — More than 4,700 auto dealerships across the United States urged President Joe Biden in a letter Thursday to halt the Environmental Protection Agency’s efforts to enforce stricter vehicle-pollution standards. The missive comes just weeks before the agency’s expected ruling on its tailpipe-emissions proposal, which addresses both climate change...
Boeing 757 lost nose wheel preparing for takeoff during a very rough stretch for the plane maker
A Boeing 757 jet operated by Delta Air Lines lost a nose wheel while preparing for takeoff from Atlanta. It was an older model of plane than those made by Boeing that have raised safety concerns about Boeing, yet it occurred with an intense spotlight on one of the nation’s...
IRS to simplify its notices to taxpayers in push for modernization
WASHINGTON — The IRS wants to rewrite its complicated letters to taxpayers and speak to people in plain English. The federal tax collector is rewriting and sending out commonly received notices ahead of the 2024 tax filing season as part of its new “Simple Notice Initiative.” “Redesigned notices will be...
Car insurance is surging. Here’s why — and how you can save
When Imani Porter received the quote for her car insurance renewal in December, she was flabbergasted. Geico, which had insured her and her fiancé’s Honda CR-V for the past year and a half, was going to charge the couple about $1,000 for the next six-month period. “I did the math...
TurboTax maker Intuit barred from advertising ‘free’ tax services without disclosing who’s eligible
NEW YORK — U.S. regulators have barred TurboTax maker Intuit Inc. from advertising its services as “free” unless they are free for all customers, or if eligibility is clearly disclosed. In an opinion and final order issued Monday, the Federal Trade Commission ruled that Intuit engaged in deceptive practices by...
WWE’s ‘Raw’ is moving to Netflix next year in a major streaming deal worth more than $5 billion
WWE’s weekly television show “Raw” will move to Netflix next year as part of a major streaming deal worth more than $5 billion. TKO Group Holdings Inc., which houses WWE and UFC, said in a regulatory filing on Tuesday that the agreement is for 10 years, with Netflix having an...
Wall Street ticks higher, closes above 38,000 for 1st time everVideo
NEW YORK — Most stocks rose Monday on Wall Street to build on its all-time high reached last week. The S&P 500 added 10.62 points, or 0.2%, to 4,850.43. The Dow Jones Industrial Average topped 38,000 points after rising 138.01, or 0.4%, to 38,001.81. The Nasdaq composite gained 49.32, or...
Pilots at Southwest ratify a contract that will boost their pay raises by nearly 50% by 2028
DALLAS — Pilots at Southwest Airlines have overwhelmingly approved a new contract that will raise their pay rates by nearly 50% by 2028, becoming the last group of pilots at the nation’s four biggest airlines to score huge raises. The Southwest Airlines Pilots Association said Monday that the agreement covering...
Liz Weston: Retiring wasn’t easy — even after years of writing about it
A couple of years ago, I wrote a column about how to have a retirement worth saving for. It ended with a quote from personal finance educator Barbara O’Neill, who reflected on how the pandemic disrupted many retirees’ plans. “It wasn’t just two years lost, it was two good years,”...
