Wire stories category, Page 51
World shares mostly higher ahead of U.S. holiday
BANGKOK — World shares are mostly higher. Benchmarks rose in London, Paris, Frankfurt and Tokyo but fell in Hong Kong and Seoul. Last week was the fourth losing week in the last five for Wall Street as investors fret over high inflation and the possibility that higher interest rates could...
Illinois town braces for future without U.S. Steel plant
GRANITE CITY, Illinois — News got around quickly in this town across the Mississippi from St. Louis: The steel mill’s death knell was sounding again, and this time, the end might really be near. At the Daylight Donuts down the street from the plant, a group of regulars relayed what...
Auto sales could hit below pandemic 2020 levels amid low inventory challenges
Low inventory levels led Cox Automotive analysts to again revise their full-year U.S. 2022 new-vehicle sales forecast downward. At a discussion Tuesday with media, analysts projected 14.4 million sales this year, below the 14.6 million sold in pandemic year 2020. Cox initially forecast 16 million sales for the year before...
U.S. Steel to make $150M investment in Minnesota operations
U.S. Steel plans to invest $150 million in a new Iron Range facility in Minnesota that would make taconite pellets tailored for electric arc steel mills. The Pittsburgh-based company said Tuesday it plans to break ground this fall on the facility, which will be located at one of its two...
CVS, Rite Aid put limits on purchase of ‘morning after’ pills after seeing sales spike
CVS Health and Rite Aid are limiting how many so-called “morning after” emergency contraceptive pills a person can buy at one time. Both agencies told NBC News that the limit is being placed because of increased demand. The demand is likely connected to the Supreme Court ruling on Friday that...
Frontier, Spirit stocks fall heading into key merger vote
Shares of Frontier Airlines and Spirit Airlines tumbled Monday after their improved merger proposal won a key endorsement just days ahead of a crucial shareholder vote. Frontier CEO Barry Biffle said Monday that he is optimistic Spirit shareholders will approve Frontier’s latest stock-and-cash offer for Spirit when they vote Thursday....
Fix the Hog: Harley, Westinghouse ordered to resolve warranties
WASHINGTON — Federal regulators have accused Harley-Davidson and Westinghouse of imposing illegal warranty terms on customers and ordered them to fix their warranties and ensure that their dealers compete fairly with independent repair-makers. The companies have imposed illegal warranty terms that voided customer warranties if they used anyone other than...
Got a savings goal? Consider forming a savings circle
A breezy January morning made the mid-30 temperatures feel even chillier. But it was an important day for the young man pushing 30 himself . He was about to face his entire family to ask for a loan to seed his new business idea. He had contributed to the family’s...
Maryland Apple workers face hurdles after vote to unionize
TOWSON, Md. — The historic vote by employees of a Maryland Apple store to unionize — a first for the technology giant — is a significant step in a lengthy process that labor experts say is heavily stacked against workers in favor of their employers. Apple store employees in a...
Housing market slows retreat from rising seas, bigger storms
Chuck and Terry Nowiski lived in their country-style farmhouse with a wrap-around porch for 36 years before it flooded. After hurricanes Matthew and Florence, they said “yes” to the state’s offer to buy their place and tear it down. Nearly three years later, they’re still waiting for the money. What’s...
Airlines were totally unprepared when travel came roaring back
Airline and airport executives spent the past two years trying to convince everyone it’s safe to fly during a pandemic, touting reduced touch points and hospital-grade filters. Little did they know how overwhelmed they’d be once travel came roaring back. From Sydney, where passengers are waiting for hours to check...
T-shirts? Ice cream? Retailers cash in on Juneteenth
NEW YORK — Retailers and marketers have been quick to commemorate Juneteenth with an avalanche of merchandise from ice cream to T-shirts to party cups. But many are getting backlash on social media for what critics say undermines the day, designated as a federal holiday last year to honor the...
Wall Street closes worst week since 2020 with slight gain
NEW YORK — Wall Street closed out its most punishing week since the 2020 coronavirus crash with a meandering day of trading Friday that left it a bit higher. The S&P 500 rose 8.07 points, or 0.2%, to 3,674.84 after waffling between modest losses and gains for most of the...
GM ups price of already pricey Hummer EV
Amid rising commodity costs, General Motors is upping the price on its GMC Hummer EV pickup and SUV by $6,250 starting June 18. The base price for the Hummer EV 3X coming this fall will go from $98,400 to $104,650. The Hummer EV 2X available next spring will be $94,650,...
Canceled flights rise across U.S. as summer travel heats up
U.S. airlines canceled high numbers of flights for a second straight day on Friday as they tried to recover from storms while accommodating growing crowds of summer vacationers. By early afternoon in the eastern U.S., airlines has scrubbed more than 1,100 flights after canceling more than 1,700 on Thursday, according...
Millennial Money: Maximize your music festival savings
Attendees of this year’s Coachella music festival have posted viral videos adding up their expenses from the weekend — with costs reaching the thousands for flights, hotels, food, drinks, outfits and rideshares. Plus the ticket, which can start around $400 for a three-day pass to a popular festival like Lollapalooza...
McDonald’s shrinking menu means healthier foods are vanishing
McDonald’s diners have said goodbye to salads. Stock investors should be glad they’re gone. A pandemic-driven menu overhaul at McDonald’s Corp. has eliminated more nutritious menu options such as grilled-chicken sandwiches and fruit and yogurt parfaits. The world’s biggest restaurant company is trimming out offerings to move diners through lines...
U.S. inflation at new 40-year high as price increases spread
WASHINGTON — The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6% last month from a year earlier, faster than April’s year-over-year increase of 8.3%, the...
Small businesses are facing ‘summer of uncertainty’
NEW YORK — Small businesses that depend on outdoor crowds and free-spending tourists aren’t sure what to expect this summer. Consumers likely have a lot of pent-up demand after more than two years of the pandemic. But they’re also facing some significant financial headwinds because of the highest inflation in...
Sriracha hot sauce maker warns of shortage
IRWINDALE, Calif. — Bottles of the popular Sriracha hot sauce could be hard to find on store shelves this summer. Southern California-based Huy Fong Inc., told customers in an email earlier this year that it would suspend sales of its famous spicy sauce over the summer because of a shortage...
No, you’re not imagining it — package sizes are shrinking
It’s the inflation you’re not supposed to see. From toilet paper to yogurt and coffee to corn chips, manufacturers are quietly shrinking package sizes without lowering prices. It’s dubbed “shrinkflation,” and it’s accelerating worldwide. In the U.S., a small box of Kleenex now has 60 tissues; a few months ago,...
Facing huge inventory, Target cuts vendor orders, prices
NEW YORK — Target is canceling orders from suppliers, particularly for home goods and clothing, and it’s slashing prices further to clear out amassed inventory ahead of the critical fall and holiday shopping seasons. The actions, announced Tuesday, come after a pronounced spending shift by Americans, from investments in their...
Musk threatens to walk away from Twitter deal
DETROIT — Elon Musk is threatening to end his $44 billion agreement to buy Twitter, accusing the company of refusing to give him information about its spam bot accounts. Lawyers for the Tesla and SpaceX CEO made the threat in a letter to Twitter dated Monday that the social platform...
Tenants grapple with rent hikes amid overall inflation spike
LOS ANGELES — At a time when rising gasoline and food prices are already straining Americans’ budgets, many apartment tenants are grappling with soaring rents. The Miami-Fort Lauderdale-West Palm Beach metropolitan area in Florida saw overall median rent soar over 50% in April from a year ago, to $3,045 a...
Report: Musk seeks to cut 10% of Tesla workforce
Tesla shares tumbled about 9% Friday on a report that CEO Elon Musk is considering laying off 10% of the company’s workers, as well as new questions from U.S. regulators over complaints of the electric vehicles braking for no reason. In an email Thursday to Tesla executives titled “pause all...
