Wire stories category, Page 25
Millennial Money: How to set good money examples for kids
Kids notice everything, whether you think they’re paying attention or not. They repeat the curse words you blurt out when you step on a toy, and spill your embarrassing family secrets to their friends. From a surprisingly early age, the kids in your life also notice money: who has it,...
Home sales slumped to slowest pace in more than 13 years in October as prices, borrowing costs soar
LOS ANGELES — Sales of previously occupied U.S. homes slumped in October to their slowest pace in more than 13 years as surging mortgage rates and rising prices kept many prospective homebuyers on the sidelines. Existing home sales fell 4.1% last month from September to a seasonally adjusted annual rate...
Key Fed official sees possible ‘golden path’ toward lower inflation without a recession
WASHINGTON — Austan Goolsbee, president of the Federal Reserve Bank of Chicago, suggested Monday that the economy appears to be on what he calls the “golden path,” another term for what economists call a “soft landing,” in which the Fed would curb inflation without causing a deep recession. “Any time...
Shippers anticipate being able to meet holiday demand
Carriers like the U.S. Postal Service, FedEx and United Parcel Service have capacity to meet projected demand this holiday season, which is cheery news for shippers and shoppers alike. Like last year, there’s expected to be little drama compared to struggles during the pandemic when people hunkered down at home...
Company that created ChatGPT is thrown into turmoil after Microsoft hires its ousted CEO
The company that created ChatGPT was thrown into turmoil Monday after Microsoft hired its ousted CEO and many more employees threatened to follow him in a conflict that centered in part on the safest way to build artificial intelligence. The developments followed a weekend of drama that shocked the AI...
Want to buy now, pay later this holiday season? Ask yourself these 5 questions first
Shoppers gearing up for the 2023 holiday season won’t have to look hard for a convenient way to pay for all those presents. ” Buy now, pay later,” a type of payment plan that divides the total cost of your purchase into smaller installments, is offered at most major retailers,...
From Hollywood to auto work, organized labor is flexing its muscles. Where do unions stand today?
NEW YORK — Once again, U.S. labor unions are flexing their muscles in the national spotlight. In Hollywood, the actors union reached a tentative deal with major studios late Wednesday to end a months-long strike. Las Vegas hotel workers also scored breakthough agreements with Caesars Entertainment and MGM Resorts International...
SAG-AFTRA committee approves deal with studios to end historic strike
LOS ANGELES — SAG-AFTRA’s negotiating committee has approved a a tentative deal with the major studios that would end a nearly four-month-long strike that has sidelined thousands of workers. The tentative contract — which still must be ratified by the union’s board and members — would boost minimum pay for...
Adidas says it may write off remaining unsold Yeezy shoes after breakup with Ye
FRANKFURT, Germany — Adidas said it might have to write off the remaining 300 million euros ($320 million) worth of Yeezy shoes left unsold after it cut ties with rapper Ye, formerly known as Kanye West. The company will decide in the coming weeks whether or not to do a...
WeWork seeks bankruptcy protection, a stunning fall for a firm once valued at close to $50 billion
NEW YORK — WeWork has filed for Chapter 11 bankruptcy protection, a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world. In a late Monday announcement, WeWork said it entered into a...
Starbucks increases U.S. hourly wages and adds other benefits for non-union workers
Starbucks is increasing pay and benefits for most of its U.S. hourly workers after ending its fiscal year with record sales. But the company said Monday that unionized workers won’t be eligible for some of those perks, a sign of the continuing tension between the Seattle coffee giant and the...
Tyson recalls 30,000 pounds of chicken nuggets after consumers report finding metal pieces
Tyson Foods is recalling nearly 30,000 pounds of breaded chicken “”Fun Nuggets” after consumers complained of finding metal pieces in the dinosaur-shaped patties. The nuggets, sold in 29-ounce bags, were produced on Sept. 5 by the Berryville, Ark., company. Tyson informed the U.S. Department of Agriculture’s Food Safety and Inspection...
More fruit pouches for kids are being recalled because of illnesses that are linked to lead
Federal health officials are expanding an investigation into potentially lead-tainted pouches of apple cinnamon fruit puree marketed for children amid reports of more illnesses and additional product recalls. The U.S. Food and Drug Administration said it has received reports of seven illnesses in at least five states possibly linked to...
FTX founder Sam-Bankman-Fried convicted of defrauding cryptocurrency customers
NEW YORK — FTX founder Sam Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry — a journey that included his testimony before Congress, a Super Bowl advertisement and dreams of a future run for president — hit a new bottom Thursday when a New York jury convicted him of...
Average long-term U.S. mortgage rate slips to 7.76% in first drop after climbing 7 weeks in a row
LOS ANGELES — The average rate on the benchmark 30-year home loan fell slightly this week, ending a seven-week climb — modest relief for prospective homebuyers grappling with an increasingly unaffordable housing market. The average rate on the benchmark 30-year home loan fell to 7.76% from 7.79% last week, mortgage...
Uber and Lyft to pay $328M in New York wage theft settlement
ALBANY, N.Y. — Ride-hailing companies Uber and Lyft will pay a combined $328 million to settle wage theft claims in New York, Attorney General Letitia James announced Thursday. James said the settlements resolve investigations into the companies improperly charging drivers sales taxes and other fees when customers should have paid...
Disney says it expects to pay $8.6 billion for Comcast’s Hulu stake
The Walt Disney Co. is proceeding with its buyout of Comcast Corp.’s stake in streaming service Hulu — a major step in the Burbank entertainment giant’s pivot to streaming. The move was expected. Months ago, Comcast Chief Executive Brian Roberts signaled that the Philadelphia cable giant was planning to divest...
Federal Reserve leaves its key rate unchanged but keeps open possibility of a future hikeVideo
WASHINGTON — The Federal Reserve kept its key short-term interest rate unchanged Wednesday for a second straight time but left the door open to further rate hikes if inflation pressures should accelerate in the months ahead. The Fed said in a statement after its latest meeting that it would keep...
Auto strike settlements will raise costs for Detroit’s Big 3
DETROIT — From generous pay and benefits to stronger job security, the United Auto Workers union won significant concessions in tentative settlements that have ended their strikes against Detroit’s three automakers. Now, General Motors, Ford and Stellantis are facing sharply higher labor costs, estimated by some analysts at exceeding $1...
AP Sources: Auto workers and Stellantis reach tentative contract deal that follows model set by Ford
DETROIT — Jeep maker Stellantis has reached a tentative contract agreement with the United Auto Workers union that follows a template set earlier this week by Ford, two people with knowledge of the negotiations said Saturday. The deal, which still has to be ratified by members, leaves only General Motors...
For the second Halloween in a row, U.S. candy inflation hits double digits
Spooked by the high price of Halloween candy? There’s not much relief in sight. For the second year in a row, U.S. shoppers are seeing double-digit inflation in the candy aisle. Candy and gum prices are up an average of 13% this month compared to last October, more than double...
Economy grew at a 4.9% pace last quarter, fastest since 2021Video
The U.S. economy grew at the fastest pace in nearly two years last quarter on a burst of consumer spending, which will be tested in coming months. Gross domestic product accelerated to a 4.9% annualized rate, more than double the second-quarter pace, according to the government’s preliminary estimate Thursday. The...
Bud Light to return as the UFC’s official beer next year as it recovers from a conservative backlash
NEW YORK — Bud Light is set to return as the official beer of the UFC in the U.S. next year as the brand tries to recover from a conservative backlash to a promotion with a transgender influencer. Under a new multiyear marketing deal between the promoter of mixed martial...
Autoworkers reach a deal with Ford, a breakthrough toward ending strikes against Detroit automakers
DETROIT — The United Auto Workers union said Wednesday it has reached a tentative contract agreement with Ford that could be a breakthrough toward ending the nearly 6-week-old strikes against Detroit automakers. The four-year deal, which still has to be approved by 57,000 union members at the company, could bring...
Strongest U.S. economic growth since 2021 puts Fed in tough spot
The U.S. economy likely expanded in the third quarter at the fastest clip in nearly two years, a surprising acceleration primarily powered by a consumer reaping the benefits of resilient job growth, rising wealth and easing inflation. Gross domestic product is projected to have grown at an annual rate of...
