Wire stories category, Page 23
Sports Illustrated fires all staffers
Sports Illustrated, one of the most respected sports publications in the country since its inception in 1954, fired all of its staffers Friday, according to a report in the New York Post. The Post report stated that Sports Illustrated owner the Arena Group informed staffers of their termination Friday. SI...
2023 was slowest year for U.S. home sales in nearly 30 years as high mortgage rates frustrated buyers
LOS ANGELES — Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low, as sharply higher mortgage rates, rising prices and a persistently low level of homes on the market combined to push homeownership out of reach for many Americans. The National Association of Realtors said...
Winter weather is snarling air travel. Here’s what to do if your flight is canceled
A winter storm made its way across the eastern half of the United States on Wednesday, snarling traffic in the air and on the highways. By early afternoon in the East, more than 1,000 U.S. flights had been canceled and 4,000 others were delayed, according to FlightAware. The brunt of...
Boost for homebuyers: Average long-term mortgage rate falls to 6.6%, lowest level since May
LOS ANGELES — The average long-term U.S. mortgage rate fell this week to its lowest level since May, welcome news for prospective homebuyers facing rising home prices and intense competition for relatively few properties on the market. The average rate on a 30-year mortgage dropped to 6.6% from 6.66% last...
Amazon will invest in Diamond Sports as part of a bankruptcy restructuring agreement
Amazon will partner with Diamond Sports as part of a restructuring agreement as the largest owner of regional sports networks looks to emerge from bankruptcy. Diamond owns 18 networks under the Bally Sports banner. Those networks have the rights to 37 professional teams — 11 baseball, 15 NBA and 11...
Cutting interest rates too soon in Europe risks progress against inflation, central bank chief says
FRANKFURT, Germany — Cutting interest rates too soon could threaten Europe’s progress in battling the inflation that has ravaged the economy, the head of the European Central Bank said Wednesday amid widespread speculation that the bank will soon lower rates from record highs. Christine Lagarde, faced with market expectations for...
The JetBlue-Spirit Airlines merger was blocked by a federal judge. Here’s what you need to know
NEW YORK — The prospect of a JetBlue-Spirit Airlines merger took a major hit in court on Tuesday when a federal judge sided with the Biden administration and blocked the $3.8 billion deal. The judge ruled that JetBlue’s purchase of Spirit, the nation’s largest low-cost airline, would harm competition —...
Overdraft fees could drop to as low as $3 under new Biden proposal
NEW YORK — The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest effort by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck....
Engine maker Cummins to repair, replace 600,000 Ram trucks in $2 billion emissions cheating scandal
The Department of Justice has ordered a recall of 600,000 Ram trucks as part of a settlement that directs engine maker Cummins Inc. to remedy environmental damage it caused when it illegally installed emissions control software in several hundred thousand vehicles, skirting emissions testing. It released new details of the...
Shohei Ohtani’s Dodgers deal prompts California controller to ask Congress to cap deferred payments
SACRAMENTO, Calif. — California Controller Malia M. Cohen wants Congress to change the tax code to cap deferred payments, a change that could ensure the state is owed more money from Shohei Ohtani. Cohen made the request four weeks after the two-way star and the Los Angeles Dodgers agreed to...
Global economy will slow for 3rd straight year in 2024, World Bank predicts
WASHINGTON — Hobbled by high interest rates, persistent inflation, slumping trade and a diminished China, the global economy will slow for a third consecutive year in 2024. That is the picture sketched by the World Bank, which forecast Tuesday that the world economy will expand just 2.4% this year. That...
Boeing still hasn’t fixed this problem on Max jets, so it’s asking for an exemption to safety rules
DALLAS — Boeing is asking federal regulators to exempt a new model of its 737 Max airliner from a safety standard designed to prevent part of the engine housing from overheating and breaking off during flight. Federal officials said last year Boeing was working to fix the hazard on current...
LG Electronics partnering with West Virginia to advance renewable energy, telehealth businesses
CHARLESTON, W.Va. — LG Electronics is partnering with the state of West Virginia to develop technologies in renewable energy, telehealth and other industries in a planned $700 million investment over the next five years, Gov. Jim Justice announced. Businesses established in the venture through the South Korea company’s Santa Clara,...
New vehicle sales rise 12% as buyers shake off high prices, interest rates, and auto strikesVideo
DETROIT — Undeterred by high prices, rising interest rates, autoworker strikes and a computer-chip shortage that slowed assembly lines, American consumers still bought 15.6 million new vehicles last year, 12% more than in 2022, the biggest increase in more than a decade. Yet sales still haven’t returned to the 17...
Starbucks will let customers use their own cup at the drive-thru
Starbucks customers can now use their own personal cup in stores as well as for mobile orders and at the drive-thru. The initiative is part of the brand’s goal to reduce waste by 50% by 2030. Customers have been able to use their own cup when ordering in Starbucks cafes...
Zillow files antitrust suit against real estate listing services
Seattle-based Zillow is suing real estate listing services across the United States, arguing the services are forcing out a Zillow subsidiary to maintain illegal monopolies. If you’ve used Zillow to schedule a home tour recently, you’ve likely accessed a widely used, Zillow-owned scheduling platform called ShowingTime. That platform is now...
Social media companies made $11 billion in U.S. ad revenue from minors, Harvard study finds
Social media companies collectively made over $11 billion in U.S. advertising revenue from minors last year, according to a study from the Harvard T.H. Chan School of Public Health published on Wednesday. The researchers say the findings show a need for government regulation of social media since the companies that...
What stores are open and closed on Christmas Day in 2023? Hours for Walmart, Starbucks, CVS and more
NEW YORK — With Christmas right around the corner, you might want to check the list of what stores are open (and closed) twice. From retail to grocery chains, many companies across the U.S. close early on Christmas Eve and shut their doors entirely on Christmas Day — while others...
Here are some ways you can reduce financial stress during the holidays
NEW YORK — The holidays are supposed to be a joyful time, but they can also be financially stressful. With gifts, social gatherings and plane tickets home, the costs can start piling up. Household expenses continue to rise and many Americans are expressing concern about their financial futures, according to...
Still haven’t bought holiday gifts? Retailers have a sale for you
NEW YORK — Retailers are stepping up sales and other enticements in the final days before Christmas to lure shoppers who’ve been waiting for the best deals, or who didn’t have the time or the urge to wrap up gift-buying early. Incentives to spend last minute are an extension of...
Were your holiday deliveries stolen? What to know about porch piracy and what you can do about it
NEW YORK — You found the perfect holiday gift online. You ordered it. A notification arrived on your phone, showing the package had arrived. But when you open your doors, the parcel is nowhere to be found. If this has happened to you, then count yourself among the unlucky group...
Apple loses latest bid to avert patent dispute that has halted online U.S. sales of 2 watch models
CUPERTINO, Calif. — Apple on Thursday stopped online sales of two popular models of its internet-connected watch in the U.S. after losing its latest attempt to untangle a patent dispute that’s blocking it from using some of the technology on the device. Both the Apple Watch Series 9 and Ultra...
Homebuilders step up construction of single-family homes as 30-year mortgage rate eases below 7%
LOS ANGELES — Homebuilders are stepping up construction of single-family homes following a steady decline in mortgage rates and broad expectations among economists that home loan borrowing costs will ease further next year. Builders broke ground on single-family homes in November at a seasonally adjusted annual rate of about 1.14...
Rite Aid banned from facial recognition tech use for 5 years after faulty theft targeting in stores
Rite Aid has been banned from using facial recognition technology for five years over allegations that its surveillance system was used incorrectly to identify potential shoplifters, especially Black, Latino, Asian or female shoppers. The settlement with the Federal Trade Commission addresses charges that the struggling drugstore chain didn’t do enough...
Toyota recalling 1 million vehicles for potential air bag problem
Toyota Motor Co. said Wednesday it is recalling 1 million vehicles over a defect that could cause airbags not to deploy, increasing the risk of injury. The recall covers a range of Toyota and Lexus vehicles with model years from 2020 to 2022. Included in the recall are Toyota Avalons,...
