Wire stories category, Page 56
Tesla opens ‘Gigafactory’ near Berlin, its 1st in Europe
Electric car manufacturer Tesla is opening its first European factory Tuesday on the outskirts of Berlin in an effort to challenge German automakers on their home turf. The company says its new “Gigafactory” will employ 12,000 people and produce 500,000 vehicles a year. German Chancellor Olaf Scholz and Economy Minister...
Stocks turn lower on Wall Street after best week since 2020
Stocks capped a day of choppy trading on Wall Street with a modestly lower finish Monday, giving back some of their recent gains after the major indexes notched their best week in more than a year. The S&P 500 slipped less than 0.1% after giving up an early gain and...
Liz Weston: How to keep your tax return from getting hung up
There may never be a good time to draw the IRS’ attention, but this year you really want to avoid extra scrutiny. The IRS is so understaffed and overwhelmed that even a tiny mistake could delay your refund for months. A return that requires “manual processing” — basically, any action...
Labor foe Howard Schultz returns as Starbucks union effort grows
From the time he bought Starbucks in 1987 to the time he stepped down as chairman in 2018, Howard Schultz consistently — and successfully — fought attempts to unionize Starbucks’ U.S. stores and roasting plants. But Schultz — who was recently named Starbucks’ interim chief executive — never confronted a...
Average U.S. mortgage rates rise; 30-year loan breaches 4%
WASHINGTON — Average long-term U.S. mortgage rates rose this week as the key 30-year loan vaulted over 4% for the first time since May 2019. The increase came amid expectations that with inflation at a four-decade high, the Federal Reserve would raise its benchmark short-term interest rate at its policy...
Wall Street adds to gains following surge in Chinese markets
Stocks rose in afternoon trading Wednesday and Wall Street added to its gains as markets gather hope that there may be better news on the horizon on inflation, the war in Ukraine and other worries that have been keeping investors unsettled. The S&P 500 rose 1.7% as of 12:06 p.m....
Embattled Federal Reserve pick Sarah Bloom Raskin withdraws nominationVideo
WASHINGTON — Sarah Bloom Raskin withdrew her nomination Tuesday to a position on the Federal Reserve’s Board of Governors after a key Democrat had joined with all Senate Republicans to oppose her confirmation. West Virginia Sen. Joe Manchin announced Monday that he opposed Raskin’s confirmation, and all Republicans in the...
Stocks rally on Wall Street as oil prices keep falling
NEW YORK — Technology companies led stocks broadly higher Tuesday on Wall Street, as oil prices slid sharply for the second day and inflation worries ebbed. The market rally came a day ahead of the Federal Reserve’s highly anticipated interest rate policy update. The S&P 500 rose 2.1%, ending a...
Plane ticket prices will continue to go up, experts say. Here’s why — and how to save
Another mode of transportation has been impacted by the fallout over Russia’s invasion of Ukraine as gas prices soar — and it might affect Americans’ vacation plans. The cost of jet fuel for commercial airplanes has also spiked, with prices per gallon rising above $4 at one point since the...
John Dorfman: Intel’s CEO bought his own stock – should you?
Semiconductor chips are a strategic commodity. For the past few years, people have been saying that Intel Corp. (INTC) is at a disadvantage because most of its fabs (fabrication plants) are in the U.S. Chips can be produced more cheaply in Asia. Based in Santa Clara, Calif., Intel is the...
Stocks sway lower and crude oil slides to $100 per barrel
Stocks lost more ground, crude oil prices fell and bond yields rose sharply Monday as anxiety over the war in Ukraine and an upcoming Federal Reserve meeting on interest rates keep global financial markets on edge. The S&P 500 gave up an early gain and closed 0.7% lower after another...
Stocks slip on Wall Street as oil and inflation worries rise
Stocks slipped on Wall Street Thursday as global markets remain choppy amid uncertainty about where inflation, interest rates and the global economy are heading. The S&P 500 slumped 1.2% in morning trading, on pace for its fifth drop in the last six days. It marks another reversal for U.S. stocks,...
Black and lower-income homeowners missed out on the refinancing boom spurred by low interest rates
Mortgage interest rates have dropped to historic lows in the last couple of years, presenting many homeowners the chance to save money by refinancing their loans — an opportunity that Black and low-income homeowners haven’t been able to enjoy because of various barriers. According to a report released this month...
McDonald’s, Starbucks, Coke, Pepsi join exodus out of Russia
DETROIT — McDonald’s, Starbucks, Coca-Cola, PepsiCo and General Electric — ubiquitous global brands and symbols of U.S. corporate might — all announced Tuesday they were temporarily suspending their business in Russia in response to the country’s invasion of Ukraine. “Our values mean we cannot ignore the needless human suffering unfolding...
EPA rule would make heavy trucks cut smog, soot pollution
DETROIT — The Biden administration is proposing stronger pollution regulations for new tractor-trailer rigs that would clean up smoky diesel engines and encourage new technologies during the next two decades. The proposal released Monday by the Environmental Protection Agency would require the industry to cut smog-and-soot-forming nitrogen oxide emissions by...
Realtors to conservatives living in liberal areas: Try Idaho
SANDPOINT, Idaho — Linda Navarre moved to Sandpoint, Idaho, from Cleveland in 1978, when the town consisted of people in the timber industry and hippies “and they all got along.” Now she barely recognizes the small resort community near the Canadian border that is quickly growing as people disenchanted with...
Kohl’s to open 100 small-format stores, expand Sephora shops
Department store chain Kohl’s said it expects to increase sales by a low-single-digit percentage annually, with plans to open 100 new small-format stores in the next four years and expand Sephora-branded shops to 850, among other moves. Kohl’s announced its long-term goals on Monday ahead of the company’s annual investor...
New offices for the hybrid era? Many companies are on board
OMAHA, Neb. — If you build a shiny new office building, will your employees show up to work in it? Many U.S. companies are banking on it because they believe working in person is better for collaboration and training young employees. So even though most employees are still working from...
China cuts economic growth goal as it tries to reverse slump
China on Saturday cut its annual economic growth target to its lowest level in decades as Beijing struggles to reverse a slump at a time when Russia’s war on Ukraine is pushing up oil prices and roiling the global economy. The ruling Communist Party will aim for growth of “around...
Microsoft closes on $16 billion acquisition of Nuance
Microsoft has closed on its approximately $16 billion acquisition of speech recognition company Nuance. The deal, which was announced last year, helps Microsoft Corp. get more entrenched into hospitals and the health care industry through Nuance’s widely used medical dictation and transcription tools. The acquisition is Microsoft’s second-largest after its...
Russia’s war spurs corporate exodus, exposes business risks
LONDON — Car factories idled, beer stopped flowing, furniture and fashion orders ceased, and energy companies cut their pipelines. Russia’s invasion of Ukraine has thrown business plans into disarray and forced a growing number of the world’s best known brands — from Apple to Mercedes-Benz and BP — to pull...
Stocks end another bumpy day lower and crude oil prices ease
NEW YORK — Stocks fell and oil prices eased back Thursday after another bumpy day of trading on Wall Street as markets remained anxious about the broader impact of Russia’s invasion of Ukraine. Major indexes veered up and down for much of the day before a late-day slide pushed them...
Amazon to close all its bookstores in the U.S., United Kingdom
NEW YORK — Amazon is confirming it’s closing all of its bookstores as well as its 4-star shops and pop up locations as the online behemoth reworks its physical footprint. The Seattle-based company said Wednesday that the move, which affects 66 stores in the U.S. and two in the United...
Wall Street roars back to rally mode, even as oil rises anew
NEW YORK — Wall Street took another sharp swing Wednesday, this time back to rally mode, as stocks and Treasury yields rose even as U.S. crude oil prices climbed to the highest level in more than a decade. The S&P 500 rose 1.9%, recouping its losses from earlier in the...
Millennial Money: Viral savings challenges that pay off
Among the different ways to trick yourself into saving, money-saving challenges are some of the most engaging. They can help you feel connected to finances by requiring frequent check-ins and debunking feelings of inadequacy when it comes to saving. For Cristina Brown, a self-described savings-challenge designer and founder of the...
