Wire stories category, Page 5
Producer prices surge in July as Trump tariffs push costs higherVideo
WASHINGTON — U.S. wholesale inflation surged unexpectedly last month, signaling that President Donald Trump’s sweeping taxes on imports are pushing costs up and that higher prices for consumers may be on the way. The Labor Department reported Thursday that its producer price index — which measures inflation before it hits...
Kodak cautions on business operations but remains confident it can meet debt obligations
The more than 130-year-old Eastman Kodak Co. is cautioning on its business operations, but says it is confident it will be able to work out upcoming debt obligations. “Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations...
Spirit Airlines sounds alarm on its future ability to stay in business
NEW YORK — Just five months after emerging from Chapter 11 bankruptcy protection, Spirit Airlines is warning about its future ability to stay in business. Spirit Aviation Holdings, the budget carrier’s parent company, says it has “substantial doubt” about its ability to continue as a going concern over the next...
Trump opens door for private equity and crypto as 401(k) retirement plan options
NEW YORK — Millions of Americans saving for retirement through 401(k) accounts could have the option of putting their money in higher-risk private equity and cryptocurrency investments, according to an executive order signed Thursday by President Donald Trump that could give those financial players long-sought access to a pool of...
Intel’s stock tumbles after Trump says its CEO must resign
Shares of Intel slumped Thursday after President Donald Trump said in a social media post that the chipmaker’s CEO needs to resign. “The CEO of Intel is highly CONFLICTED and must resign, immediately,” Trump posted on Truth Social. “There is no other solution to this problem. Thank you for your...
Average rate on 30-year mortgage drops to lowest level since April
The average rate on a 30-year U.S. mortgage has fallen to its lowest level in four months, welcome news for prospective homebuyers who have been held back by stubbornly high home financing costs. The long-term rate fell to 6.63% from 6.72% last week, mortgage buyer Freddie Mac said Thursday. A...
Consumers, long worried about the economy, now acting on concerns
Natalie Slinger’s growing family could use a bigger house and a second car. Right now, both feel out of reach. Slinger and her husband have one child in day care, which costs as much as their mortgage. They rarely eat out and limit their travel to camping. Their second child,...
Boeing workers who build fighter jets plan to go on strike
NEW YORK — Boeing workers who build fighter jets are planning to go on strike Monday at midnight Central Daylight Time. About 3,200 workers at Boeing facilities in St. Louis; St. Charles, Missouri; and Mascoutah, Illinois, voted to reject a modified four-year labor agreement with Boeing, the International Association of...
Recall issued over Celsius energy drinks mistakenly containing vodka
MODESTO, Calif. — Energy drinks that mistakenly contain vodka are being recalled in half a dozen states. High Noon is recalling two production lots of High Noon Beach Variety packs because some packs include cans containing vodka that were mislabeled as Celsius Astro Vibe Energy Drink, according to a U.S....
Union Pacific, Norfolk seek 1st transcontinental railroad through a massive merger
OMAHA, Neb. — Union Pacific wants to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.S, potentially triggering a final wave of rail mergers across the country. The proposed merger, announced Tuesday, would marry Union Pacific’s vast rail network in the...
EPA set to unravel U.S. authority to regulate greenhouse gases
WASHINGTON — The Trump administration is set to announce its plans to abolish the U.S. government’s authority to regulate greenhouse gases, threatening to strike a deep blow at Washington’s ability to fight climate change. The Environmental Protection Agency will unveil a proposal as early as Tuesday to scrap a landmark...
Hershey raising candy prices by double digits on high cocoa costs
Hershey Co. is raising prices on its candy because of historically high cocoa costs. The Pennsylvania-based maker of Hershey’s chocolates and Reese’s Peanut Butter Cups told its retailers last week that it would be implementing a roughly double-digit price increase, company officials said Tuesday. That increase reflects a higher list...
Americans are paying for Trump’s tariffs, not foreign companies
Who’s paying for Donald Trump’s tariffs? So far, American businesses and consumers. General Motors Co. was the latest U.S. company to disclose how the levies are raising costs, with the automaker saying Tuesday that the duties dented profits by more than $1 billion as it chose to absorb the blow....
Wall Street rises toward records as Verizon begins big week for profit reports with a beat
NEW YORK — U.S. stocks are rising toward more records on Monday ahead of a week full of profit updates from big U.S. companies, which Wall Street expects to keep growing despite pressure from President Donald Trump’s tariffs. The S&P 500 was 0.5% higher in morning trading and above its...
Less selection, higher prices: How tariffs are shaping the holiday shopping season
NEW YORK — With summer in full swing in the United States, retail executives are sweating a different season. It’s less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices. But President Donald Trump’s vacillating trade...
Man whose car struck crowd outside Los Angeles club, injuring 30, was shot, attacked by crowd
LOS ANGELES — A vehicle rammed into a crowd of people waiting to enter a nightclub along a busy boulevard in Los Angeles early Saturday, injuring 30 people and leading bystanders to attack the driver, authorities said. The driver was later found to have been shot, according to Los Angeles...
32 Palestinians shot dead trying to reach U.S. group’s food distribution sites, Gaza authorities say
DEIR AL BALAH, Gaza Strip — Israeli troops opened fire Saturday toward crowds of Palestinians seeking food from distribution hubs run by a U.S.- and Israeli-backed group in southern Gaza, killing at least 32 people, according to witnesses and hospital officials. The shootings occurred near hubs operated by the Gaza...
Beef prices have soared in the U.S. — and not just during grilling season
OMAHA, Neb. — Anyone firing up the grill this summer already knows hamburger patties and steaks are expensive, but the latest numbers show prices have climbed increasingly fast. And experts say consumers shouldn’t expect much relief soon either. The average price of a pound of ground beef rose to $6.12...
Mark Zuckerberg says Meta will build gigawatt-size data centers
Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company is building several massive data centers to power its artificial intelligence efforts with the first one expected to come online next year. “We’re calling the first one Prometheus and it’s coming online in ‘26,” Zuckerberg said in a post...
Boeing settles with a man whose family died in a 737 Max crash in Ethiopia
CHICAGO — Boeing reached a settlement Friday with a Canadian man whose wife and three children were killed in a deadly 2019 crash in Ethiopia, averting the first trial connected to the devastating event that led to a worldwide grounding of Max jets. The jury trial at Chicago’s federal court...
Average long-term U.S. mortgage rate rises to 6.72%, ending 5-week slide
The average rate on a 30-year U.S. mortgage edged up this week, ending a five-week decline in borrowing costs for homebuyers. The long-term rate ticked up to 6.72% from 6.67% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.89%. Borrowing costs on 15-year fixed-rate...
Investors snap up U.S. homes as traditional buyers struggle to afford one
LOS ANGELES — Real estate investors are snapping up a bigger share of U.S. homes on the market as rising prices and stubbornly high borrowing costs freeze out many other would-be homebuyers. Nearly 27% of all homes sold in the first three months of the year were bought by investors,...
Waymo begins offering teen accounts, starting in metro Phoenix
Alphabet Inc.’s Waymo is launching a new account type that lets teenagers hail a robotaxi and ride alone, expanding its rider base while continuing to test its service in more U.S. cities. Teens from 14 to 17 can have a user profile paired to a parent’s account starting on Tuesday,...
Trump administration weighs new coal sales from public lands in Montana and Wyoming
DENVER — Federal officials Monday took a first step toward reopening vast areas of public lands in two Western states to new coal sales as part of President Donald Trump’s push to expand U.S. fossil fuel production. The Interior Department proposal comes after the Biden administration, citing climate change, tried...
Underwater turbine spinning for 6 years off Scotland’s coast is a breakthrough for tidal energy
Submerged in about 44 yards of water off Scotland’s coast, a turbine has been spinning for more than six years to harness the power of ocean tides for electricity — a durability mark that demonstrates the technology’s commercial viability. Keeping a large, or grid-scale, turbine in place in the harsh...
