Wire stories category, Page 26
States sue Meta claiming its social platforms are addictive and harm children’s mental health
Dozens of states, including California and New York, are suing Meta Platforms Inc. for allegedly harming young people and contributing to the youth mental health crisis by knowingly and deliberately designing features on Instagram and Facebook that addict children to its platforms. A lawsuit filed by 33 states claims Meta...
Chevron buys Hess for $53 billion, 2nd megadeal in the oil patch this month as energy prices soar
Chevron is buying Hess Corp. for $53 billion and it’s not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge. Crude prices rose sharply in early 2022 with Russia’s invasion of Ukraine and are hovering around $90 per barrel...
Musk’s X tests $1 fee for new users in the Philippines and New Zealand in bid to target spam
LONDON — Elon Musk’s social media platform X has begun charging a $1 fee to new users in the Philippines and New Zealand, in a test designed to cut down on the spam and fake accounts flourishing on the site formerly known as Twitter. The company said late Tuesday that...
IRS plans limited rollout of free e-file tax return system with invitations to select taxpayers
WASHINGTON — The IRS plans to invite select taxpayers across 13 states to try out the agency’s pilot electronic free file tax return system beginning in January. The agency estimates that hundreds of thousands of taxpayers will participate in the limited rollout of the program for the 2024 filing season....
Social Security cost-of-living adjustment is coming — but it won’t be as big as this year’s
WASHINGTON — Looking ahead to retirement next spring, Karla Abbott finds comfort in the cost-of-living increase that millions of Social Security recipients get each year. But with consumer prices easing, the new boost will be far lower than this year’s 8.7% Analysts estimate the adjustment for 2024 will be around...
Auto workers escalate strike as 8,700 workers walk out at Ford Kentucky Truck Plant in Louisville
DETROIT — The United Auto Workers union significantly escalated its walkout against Detroit’s Three automakers, shutting down Ford’s largest factory and threatening Jeep maker Stellantis. In a surprise move Wednesday night, 8,700 members left their jobs at Ford’s Kentucky truck plant in Louisville. And Thursday morning, union President Shawn Fain...
Disney World raises prices for annual passes, parking
Walt Disney World has increased prices on its theme park annual passes between $30 and $50, depending on the level. Disney also raised the parking fee at the parks from $25 to $30, matching the charge at Universal Orlando ‘s parking garage and at SeaWorld Orlando theme park. The top-line...
Exxon Mobil buys Pioneer Natural in $59.5 billion deal with energy prices surging
Exxon Mobil Corp. is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas. Including debt, Exxon is committing about $64.5 billion to the acquisition, leaving no doubt of the Texas...
Federal judge dismisses false advertising claims against Wendy’s, McDonald’s
A federal judge in New York has dismissed a lawsuit that accused McDonald’s and Wendy’s of misleading consumers with ads that show bigger, juicier burgers than their restaurants actually serve. In an opinion released over the weekend, U.S. District Judge Hector Gonzalez said the images on the companies’ websites —...
More evidence that the U.S. job market remains hot after job openings rise unexpectedly in August
WASHINGTON — U.S. job openings unexpectedly rose in August, another sign the U.S. labor market remains strong despite higher interest rates — perhaps too strong for the inflation fighters at the Federal Reserve. American employers posted 9.6 million job openings in August, up from 8.9 million in July and the...
Higher gas prices lift Fed’s preferred inflation gauge but underlying price pressures remain mild
WASHINGTON — An inflation gauge closely tracked by the Federal Reserve accelerated in August, boosted mainly by higher gas prices. But measures of underlying inflation slowed in the latest sign that overall price pressures are still moderating. Friday’s report from the Commerce Department showed that prices rose 0.4% from July...
Netflix’s DVD-by-mail service bows out as its red-and-white envelopes make their final trip
The curtain is finally coming down on Netflix’s once-iconic DVD-by-mail service, a quarter century after two Silicon Valley entrepreneurs came up with a concept that obliterated Blockbuster video stores while providing a springboard into video streaming that has transformed entertainment. The DVD service that has been steadily shrinking in the...
Hyundai, Kia recall nearly 3.4 million vehicles due to fire risk and urge owners to park outdoors
DETROIT — Hyundai and Kia are recalling nearly 3.4 million vehicles in the U.S. and telling owners to park them outside due to the risk of engine compartment fires. The recalls cover multiple car and SUV models from the 2010 through 2019 model years including Hyundai’s Santa Fe SUV and...
Target to close 9 stores, including 3 in the San Francisco Bay Area, citing safety concerns
NEW YORK — Target said Tuesday that it will close nine stores in four states, including one in New York City’s East Harlem neighborhood, and three in the San Francisco Bay Area, saying that theft and organized retail crime have threatened the safety of its workers and customers. The closings,...
Liz Weston: Why retirees may want to buy an immediate annuity now
An immediate annuity is an insurance product that provides guaranteed income: You give an insurer a chunk of money, and the company gives you a stream of payments that can last for life. The payments begin within 12 months of purchase. Now may be a good time for retirees to...
Citing sustainability, Starbucks wants to overhaul its iconic cup. Will customers go along?
TEMPE, Ariz. — Bethany Patton steps up to the counter and places her pink mug into a shoebox-sized dishwasher. It spins. It whirs. Water splashes inside. After 90 seconds, the door opens and steam emerges. A barista grabs the mug, dries it and prepares Patton’s order — a 16-ounce Starbucks...
About 13,000 workers go on strike seeking better wages and benefits from Detroit’s 3 automakers
DETROIT — About 13,000 U.S. auto workers stopped making vehicles and went on strike Friday after their leaders couldn’t bridge a giant gap between union demands in contract talks and what Detroit’s three automakers are willing to pay. Members of the United Auto Workers union began picketing at a General...
UAW chief says offers from Detroit companies are inadequate, says union is ready to go on strikeVideo
DETROIT — With just over 24 hours left before a strike deadline, United Auto Workers President Shawn Fain said Wednesday that offers from the companies aren’t enough and the union is getting ready to strike. In an online address to union members, Fain said General Motors, Ford and Stellantis have...
Looking for a refill? McDonald’s is saying goodbye to self-serve soda in the coming years
NEW YORK — Say goodbye to refilling that Coke. McDonald’s is getting rid of self-served soda. The Chicago-based fast food chain plans to eliminate self-service soda machines at its U.S. restaurants by 2032, McDonald’s confirmed this week. It’s unclear if locations outside the U.S. will follow suit. In an email...
U.S. claims Google pays more than $10 billion a year to maintain its search dominanceVideo
WASHINGTON — Google has exploited its dominance of the internet search market to lock out competitors and smother innovation, the Department of Justice said Tuesday at the opening of the biggest U.S. antitrust trial in a quarter century. “This case is about the future of the internet and whether Google’s...
Hostess is being acquired by JM Smucker in a deal valued at $5.6B after coming back from the brink
Hostess, the maker of snack classics such as Twinkies and HoHos, is being sold to J.M. Smucker in a cash-and-stock deal worth about $5.6 billion. Smucker, which makes everything from coffee to peanut butter and jelly, will pay $34.25 per share in cash and stock, and it will also pick...
Wall Street rises to reverse some of last week’s losses
NEW YORK — U.S. stocks are rising Monday as Wall Street recovers some of its losses from last week. The S&P 500 was 0.6% higher in afternoon trading, coming off its first losing week in the last three. The Dow Jones Industrial Average was up 90 points, or 0.3%, at...
JetBlue is stepping up a campaign to save its plan to buy Spirit Airlines for $3.8 billion
NEW YORK — JetBlue Airways said Monday it has reached an agreement to turn over Spirit Airlines’ operations at airports in Boston and Newark, New Jersey, as JetBlue ramps up its effort to win regulatory or court approval to buy Spirit. JetBlue CEO Robin Hays said the announcement “is aimed...
Google reaches tentative settlement with 36 states and D.C. over alleged app store monopoly
Thirty-six states and the District of Colombia have reached an agreement in principle with Google to settle a lawsuit filed in 2021 over the tech giant’s alleged monopolistic control of app distribution for the software that runs most of the world’s cellphones. The agreement, cited in a court filing late...
Carmakers failing privacy test, as owners have little or no control of data they hand over
BOSTON — Cars are getting an “F” in data privacy. Most major manufacturers admit they may be selling your personal information, a new study finds, with half also saying they would share it with the government or law enforcement without a court order. The proliferation of sensors in automobiles —...
