Wire stories category, Page 45
U.S. stocks edge higher in unsteady trading, oil prices rise
NEW YORK — Stocks edged mostly higher in unsteady trading on Wall Street Tuesday as some concerns dissipate over protests in China against that country’s severe covid restrictions. The S&P 500 rose 0.1% as of 10:19 a.m. Eastern after bobbing between small gains and losses throughout the morning. The Dow...
Stock indexes fall as lockdown protests spread in ChinaVideo
A broad slide on Wall Street left stocks lower Monday as global financial markets reacted to protests in China calling for President Xi Jinping to step down amid growing anger over severe covid-19 restrictions. The S&P 500 fell 1.5%, clawing back all of the benchmark index’s gains from last week....
Biden calls on Congress to head off potential rail strike
OMAHA, Neb. — President Joe Biden on Monday asked Congress to intervene and block a railroad strike before next month’s deadline in the stalled contract talks, and House Speaker Nancy Pelosi said lawmakers would take up legislation this week to impose the deal that unions agreed to in September. “Let...
Cyber Monday deals lure in consumers amid high inflation
NEW YORK — Days after flocking to stores on Black Friday, consumers are turning online for Cyber Monday to score more discounts on gifts and other items that have ballooned in price because of high inflation. Cyber Monday is expected to remain the year’s biggest online shopping day and rake...
Holiday survival tips from 5 financial pros
For Ryan Decker, surviving the holiday shopping season is all about planning ahead. In fact, if he sees a gift for one of his two young sons in March, he’ll go ahead and buy it, instead of rushing through his shopping list in December. “It very much eases the burden,”...
Germany, France pledge mutual support to avert energy crunch
BERLIN — Germany and France pledged Friday to provide each other mutual support in preventing a possible energy crisis after supplies from Russia dried up amid the war in Ukraine. As part of a joint agreement signed by German Chancellor Olaf Scholz and French Prime Minister Elisabeth Borne, Germany will...
Taylor Swift’s NYC townhouse up for rent
NEW YORK — The 19th-century Manhattan townhouse that served as the inspiration for Taylor Swift’s 2019 song, “Cornelia Street,” is on the rental market. The historic West Village property, located at 23 Cornelia St., is available for $45,000 a month, according to Architectural Digest. Built in 1870, the four-bedroom, seven-bathroom...
Thanks, inflation: Cost of ’12 Days of Christmas’ items nears $200,000
The tune is oh so familiar. Not just the “and a partridge in a pear tree.” We’re talking “more than last year.” Financial services firm PNC has for 39 years compiled the consumer costs for those who would wish to make corresponding purchases for their true love replicating “The Twelve...
Stocks gain ground on Wall Street ahead of holiday
Stocks closed broadly higher on Wall Street Wednesday, after the minutes from the Federal Reserve’s most recent policy meeting showed central bank officials agreed that smaller rate hikes would likely be appropriate “soon.” The S&P 500 rose 0.6%, while the Dow Jones Industrial Average gained 0.3%. The Nasdaq composite closed...
Free returns less common for online shoppers
One of the foundations of online shopping has been free returns, but not anymore. After years of subsidizing them, more retailers are charging customers to send back unwanted goods. It’s a risky move because shoppers have become accustomed to buying an item in multiple sizes and colors and returning what...
Shoppers hunt for deals but inflation makes bargains elusive
NEW YORK — Consumers holding out for big deals — and some much-needed relief from soaring costs on just about everything — may be disappointed as they head into the busiest shopping season of the year. While retailers are advertising sales of 30%, 50% and 70% off everything from TVs...
Edmunds: How to mitigate rising auto loan interest rates
The Federal Reserve issued its latest interest rate hike in early November. It marks the sixth increase this year and has pushed new auto loan finance rates to their highest since 2019. Rates for used cars have also hit their highest since 2010. This will affect car shoppers this holiday...
Carriers feeling cheery about on-time holiday deliveries
The nation’s major shipping companies are in the best shape to get holiday shoppers’ packages delivered on time since the start of the pandemic, suggesting a return to normalcy. Carriers like the U.S. Postal Service, FedEx and United Parcel Service project to have enough capacity after struggling under the holiday...
Big rail unions split on contract with engineers ratifying
OMAHA, Neb. — Railroad engineers accepted their deal with the railroads that will deliver 24% raises but conductors rejected theirs, threatening the health of the economy just before the holidays and casting more doubt on whether the industry will be able to resolve the labor dispute before next month’s deadline...
U.S. home sales fell in October for 9th straight month
Sales of previously occupied U.S. homes fell in October for the ninth consecutive month to the slowest pre-pandemic sales pace in more than 10 years as homebuyers grappled with sharply higher mortgage rates, rising home prices and fewer properties on the market. Existing home sales fell 5.9% last month from...
More Twitter workers flee after Musk’s ‘hardcore’ ultimatum
Twitter continued to bleed engineers and other workers after new owner Elon Musk gave them a choice to pledge to “extremely hardcore” work or resign with severance pay. While it’s not clear exactly how many of Twitter’s already-decimated staff took Musk up on his offer, the newest round of departures...
Wall Street opens higher but is still headed for weekly loss
NEW YORK — Stocks are opening higher on Wall Street but are still heading for losses for the week after several days of bumpy trading. Several retailers were posting big gains in the early going Friday after reporting surprisingly strong quarterly results. Gap, Ross Stores and Foot Locker all rose...
More Twitter workers flee after Elon Musk’s ‘hardcore’ ultimatum
Twitter continued to bleed engineers and other workers on Thursday, after new owner Elon Musk gave them a choice to pledge to “hardcore” work or resign with severance pay. Some took to Twitter to announce they were signing off after Musk’s deadline to make the pledge. A number of employees...
Exec who cleaned up Enron calls FTX mess ‘unprecedented’
NEW YORK — The man who had to clean up the mess at Enron says the situation at FTX is even worse, describing what he calls a “complete failure” of corporate control. The filing by John Ray III, the new CEO of the bankrupt cryptocurrency firm, lays out a damning...
Stocks fall as Fed signals rates need to go still higher
Stocks closed lower on Wall Street and Treasury yields rose Thursday afternoon after more indications from the Federal Reserve that it may need to raise interest rates much higher than many people expect to get inflation under control. The S&P 500 fell 0.3%, with retailers and banks among the biggest...
Starbucks workers strike at more than 100 stores
Starbucks workers at more than 100 U.S. stores are on strike Thursday in their largest labor action since a campaign to unionize the company’s stores began late last year. The walkouts coincide with Starbucks’ annual Red Cup Day, when the company gives free reusable cups to customers who order a...
Stocks rise on cooling inflation data after up-and-down dayVideo
NEW YORK — Stocks rose on Wall Street Tuesday following more signs the nation’s punishingly high inflation may be falling off faster than expected. The S&P 500 climbed 0.9%, or 34.48 points, to 3,991.73, though it went on another unsettling ride to get there. A flare-up of worries about the...
Jeff Bezos says he will give away most of his fortuneVideo
NEW YORK — Amazon founder Jeff Bezos said he will give away the majority of his wealth during his lifetime, becoming the latest billionaire to pledge to donate much of his vast fortune. Bezos, whose “real-time” worth Forbes magazine estimates at roughly $124.1 billion, made the announcement in a joint...
Funds vanish at bankrupt crypto exchange FTX; probe underway
NEW YORK — Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday. The embattled company’s new CEO John Ray III said Saturday that FTX is switching off the ability to trade or withdraw funds and...
Consumer inflation eased to 7.7% over past 12 months
WASHINGTON — Price increases moderated in the United States last month in the latest sign that the inflation pressures that have gripped the nation might be easing as the economy slows. Consumer inflation reached 7.7% in October from a year earlier and 0.4% from September, the government said Thursday. The...
