Wire stories category, Page 60
New York Times buys sports site The Athletic for $550M
The New York Times Co. is buying sports news site The Athletic for $550 million, the latest move in its strategy to expand its audience of paying subscribers as the newspaper print ads business fades. The Times, unlike many local news outlets, has thrived in the past several years. It...
More weakness in technology stocks leaves indexes lower
Technology and health care companies helped pull stocks lower Thursday on Wall Street, driving the market indexes deeper into the red for the first week of the year. The S&P 500 slipped 0.1% after wobbling between gains and losses for much of the day. The Dow Jones Industrial Average also...
U.S. stocks slump after minutes from Fed meeting rattle market
Stocks fell broadly on Wall Street in afternoon trading Thursday after the minutes from the Federal Reserve’s last meeting of policymakers signaled increasing concerns about inflation. The S&P 500 was down 1.3% as of 3:03 p.m. Eastern. Technology companies accounted for much of the decline in the benchmark index, which...
Fed officials now seeing U.S. job market near full recovery
Federal Reserve policymakers at a meeting last month said the U.S. job market was nearly at levels healthy enough that the central bank’s low-interest rate policies were no longer needed, according to minutes of the meeting released Wednesday. Fed officials also expressed concerns that surging inflation was spreading into more...
Toyota tops GM in U.S. sales for 1st time ever — but there’s a catch
In a historic turn, Toyota Motor North America has taken the U.S. sales crown from General Motors for 2021 after the shortage of semiconductor chips severely hampered GM’s ability to build enough new vehicles to meet demand. On Tuesday, GM and Toyota both reported fourth-quarter and full-year new car sales...
Slumping tech stocks weigh on S&P 500 even as Dow gains
A slide in technology stocks left the S&P 500 slightly lower Tuesday on Wall Street, even as the Dow Jones Industrial Average marked another all-time high. The S&P 500 slipped 0.1%, while the tech-heavy Nasdaq composite fell 1.3% after a day of choppy trading. The Dow rose 0.6%, thanks partly...
New York jury holds drugmaker Teva liable in opioid crisis
Drugmaker Teva Pharmaceuticals is responsible for contributing to the opioid crisis, a suburban New York jury ruled Thursday in one of few verdicts so far among thousands of lawsuits nationwide over the painkillers. A separate trial will follow to determine what Teva will have to pay in the case, part...
A late slide pulls major US indexes just below record highs
A late slide pulled major indexes into the red on Wall Street Thursday, leaving the S&P 500 and the Dow Jones Industrial Average slightly below the record highs they set a day earlier. The benchmark S&P 500 gave up 0.3%. The Dow and the Nasdaq each fell 0.2%. Trading was...
Tesla Model 3 recall over rear camera connection
Tesla is recalling certain Model 3s because a coaxial cable for its backup camera can become worn and fail to transmit images to the dashboard console. All Model 3s from model years 2017 to 2020 are included in the recall, with as many as 356,309 cars affected, according to the...
Bitcoin worth $15 quintillion is just another day in crypto
Cryptocurrencies made a giant leap in 2021, expanding well beyond their niche among geeks and Redditors. Wall Street strengthened its embrace, with Morgan Stanley Chief Executive Officer James Gorman declaring it no fad. New York Mayor-elect Eric Adams said he’ll initially get paid in Bitcoin. And tokenmania invaded pop culture,...
Wall Street ends higher, marking another record for S&P 500
Technology companies led U.S. stocks broadly higher Monday, extending the market’s recent rally and nudging the S&P 500 to another all-time high. Wall Street kicked off the final week in a banner year for the stock market with mostly muted trading as investors returned from the Christmas holiday and several...
U.S. steps up probe into Hyundai-Kia engine failures and fires
DETROIT — U.S. auto safety regulators have stepped up a series of investigations into engine fires that have plagued Hyundai and Kia vehicles for more than six years. The National Highway Traffic Safety Administration says a new engineering analysis investigation covers more than 3 million vehicles from the 2011 through...
United cancels over 100 flights on Christmas eve due to omicron-linked shortages
United Airlines Holdings Inc. is canceling over 100 flights on Friday, the day before Christmas, while Delta Air Lines Inc. has cut about 90. United said in an email Thursday that a jump in omicron covid-19 cases is affecting the availability of flight crews and ground personnel. Delta said its...
Markets 2021: Stocks soar, IPOs explode, crypto goes wild
Wall Street delivered another strong year for investors in 2021, as a resurgence in consumer demand fueled by the reopening of the global economy pumped up corporate profits. As of Dec. 22, the S&P 500 had risen 25%, its third-straight annual increase. Along the way, the benchmark index set 67...
$475M settlement proposed in longest-running U.S. oil spill
NEW ORLEANS — A New Orleans-based oil company has agreed to turn over a $432 million cleanup trust fund and pay an additional $43 million to settle a federal lawsuit over cleaning up abandoned wells leaking since 2004, federal prosecutors said Wednesday. “This settlement represents an important down payment to...
California sues Walmart over disposal of hazardous waste
SACRAMENTO — Retail giant Walmart illegally dumps more than 1 million batteries, aerosol cans of insect killer and other products, toxic cleaning supplies, electronic waste, latex paints and other hazardous waste into California landfills each year, state prosecutors alleged Monday in a lawsuit that the company labeled “unjustified.” “As we...
Payrolls grow, but Pennsylvania’s labor force shrinks again
Pennsylvania’s unemployment rate fell for the ninth straight month and payrolls grew again in November, according to new state figures, but the labor force shrank, as did the workforce participation rate. Pennsylvania’s unemployment rate dropped three-tenths of a percentage point to 5.7% from October’s rate, according to state Department of...
Wall Street joins global slump for stocks on omicron jitters
NEW YORK — Stocks on Wall Street added to their recent string of losses Monday, joining a worldwide slump by financial markets amid worries about how badly the omicron variant, inflation and other forces will hit the economy. The S&P 500 fell 1.1% for its third straight drop. The decline...
Kellogg’s reaches tentative agreement with striking workers
OMAHA, Neb. — Kellogg’s has reached a new tentative agreement with its 1,400 striking cereal plant workers that could bring an end to the strike that began Oct. 5. Members of the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union will vote on the new offer that includes cost-of-living...
Mortgage rates up slightly this week to a still-low 3.12%
SILVER SPRING, Md. — The average interest rate on a long-term mortgage in the U.S. ticked up slightly this week but remains historically low just as the Federal Reserve announces that it will begin tightening credit. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year,...
Kroger ending some covid-19 benefits for unvaccinated staffVideo
Kroger, the country’s biggest traditional grocery chain, is ending some benefits for unvaccinated workers as big employers attempt to compel more of their workforce to become vaccinated with cases of covid-19 again rising. Unvaccinated workers will no longer be eligible to receive up to two weeks paid emergency leave if...
Japan’s Toyota promises more electric models, investmentVideo
TOKYO — Japanese automaker Toyota is beefing up its electric vehicle lineup, offering 30 new fully electric models by 2030, its president, Akio Toyoda, said Tuesday. Toyota Motor Corp. plans to sell 3.5 million electric vehicles globally in 2030, he said, up from its earlier plan to sell 2 million...
Resale is making gains in December holiday gift shopping
NEW YORK — Second hand. Like new. Thrift. Buy Nothing. Gently used. There are lots of ways to describe consumption in the booming resale market. Add “Merry Christmas!” to the list. Resale has taken off among those looking to save the planet and spend less on gifts during what can...
‘The internet’s on fire’ as techs race to fix software flaw
A critical vulnerability in a widely used software tool — one quickly exploited in the online game Minecraft — is rapidly emerging as a major threat to organizations around the world. “The internet’s on fire right now,” said Adam Meyers, senior vice president of intelligence at the cybersecurity firm Crowdstrike....
Stocks end higher, closing out best week since February
Technology companies led a rally on Wall Street that powered the S&P 500 to an all-time high and gave the index its best weekly gain since February. The S&P 500 rose 1%, enough to recoup its losses from a day earlier. The benchmark index closed higher four of the last...
