Wire stories category, Page 61
Gaming while driving: Tesla allows it, Mercedes does recall
A few days after reports surfaced that Tesla allows drivers to play video games on dashboard touch screens while vehicles are moving, Mercedes-Benz has issued a U.S. recall for a simliar issue. The German automaker said in documents posted Friday by U.S. regulators that the issue affected 227 vehicles and...
Stocks end modestly higher after a choppy day of tradingVideo
Major stock indexes weathered a bout of choppy trading Wednesday on Wall Street and closed higher for the third day in a row. The S&P 500 rose 0.3%, with 62% of the stocks within the benchmark index closing higher. The muted trading followed a strong start to the week that...
Instagram CEO faces senators amid anger over potential harmVideo
WASHINGTON — The CEO of Facebook’s Instagram is facing lawmakers angry over revelations of how the popular photo-sharing platform can harm some young users and demanding that the company commit to making changes. Adam Mosseri is testifying Wednesday at a Senate hearing as Facebook, whose parent now is named Meta...
Toyota to build $1.3B battery plant in North Carolina
RALEIGH — Toyota announced on Monday that it plans to build a $1.3 billion electric vehicle battery plant near Greensboro, N.C., that will employ at least 1,750 people and help meet the auto giant’s growing goals of electric vehicle sales this decade. Company leaders joint Gov. Roy Cooper and other...
Stocks rise broadly on Wall Street, travel companies reboundVideo
Stocks rose broadly Monday on Wall Street, nearly reversing the S&P 500’s losses from last week, when jitters over a new coronavirus variant roiled markets. The benchmark index rose 1.2%. More than 85% of stocks in the index gained ground, with technology companies and banks accounting for a large slice...
U.S. jobless claims rise by 28,000, but still low at 222,000
The number of Americans applying for unemployment benefits rose last week even though the U.S. job market has been rebounding from last year’s coronavirus recession. Jobless claims climbed by 28,000 to 222,000 from the previous week’s 52-year low 194,000, the Labor Department reported Thursday. The four-week average of claims, which...
Broad rally lifts stocks after run of volatile trading
A broad rally on Wall Street pushed stocks higher Thursday, giving the S&P 500 its best day in seven weeks as the market recouped some of its losses after several days of volatile trading. The benchmark index rose 1.4%, its biggest gain since mid-October. The Dow Jones Industrial Average rose...
Markets turn cautious, reversing an early gain to end lowerVideo
Another roller-coaster ride on Wall Street whipsawed investors Wednesday as an early market rally reversed course by midafternoon, piling up more losses for stocks. The S&P 500 had been up 1.9% in the early going following some better-than-expected readings on the U.S. economy, but the gains gradually gave way to...
Fed survey finds supply-chain shortages boosting inflation
WASHINGTON — Many parts of the country were hit by supply chain disruptions and labor shortages in November, the Federal Reserve reported Wednesday. In a survey of business conditions around the country, the Fed’s 12 regional banks found that the economy continued to grow at a modest-to-moderate pace, and the...
Omicron unravels travel industry’s plans for a comeback
Tourism businesses that were just finding their footing after nearly two years of devastation wrought by the covid-19 pandemic are being rattled again as countries throw up new barriers to travel in an effort to contain the omicron variant. From shopping districts in Japan and tour guides in the Holy...
Wall Street steadies following omicron slide; stocks rise
NEW YORK — Wall Street steadied itself Monday after last week’s stock market slide caused by the newest coronavirus variant, with investors now waiting for more clues about just how much damage it may do to the economy. The S&P 500 rose 1.3% to recover more than half of its...
Activists block Amazon warehouses in Europe on Black Friday
Climate activists blockaded Amazon warehouses in three European countries on Friday, part of a global effort to pressure the ecommerce giant on one of its busiest days of the year to improve working conditions and end business practices that hurt the environment. Members of Extinction Rebellion targeted 13 Amazon fulfilment...
Stores kick off Black Friday but pandemic woes linger
Retailers are expected to usher in the unofficial start to the holiday shopping season Friday with bigger crowds than last year in a closer step toward normalcy. But the fallout from the pandemic continues to weigh on businesses and shoppers’ minds. Buoyed by solid hiring, healthy pay gains and substantial...
Stocks sink on new covid variant; Dow loses 905 points
Stocks sank Friday, with the Dow Jones Industrial Average briefly falling more than 1,000 points, as a new coronavirus variant first detected in South Africa appeared to be spreading across the globe. Investors were uncertain whether the variant could potentially reverse months of progress at getting the covid-19 pandemic under...
Dollar Tree makes it official: Items will now cost $1.25
NEW YORK — Faced with the rising cost of goods and freight, discount retail chain Dollar Tree said Tuesday it will be raising its prices to $1.25 for the majority of its products. Dollar Tree said the reason for raising its prices to $1.25 was not due to “short-term or...
U.S. to release 50 million barrels of oil to ease energy costs
WASHINGTON — President Joe Biden on Tuesday ordered 50 million barrels of oil released from the nation’s strategic reserve to help bring down energy costs, in coordination with other major energy consuming nations, including China, India and the United Kingdom. The move is aimed at global energy markets, but also...
Hedge fund Alden in hunt for another big newspaper chain
Hedge fund Alden Global Capital, one of the country’s largest newspaper owners with a reputation for intense cost cuts and layoffs, has offered to buy the local newspaper chain Lee Enterprises for about $141 million. In a news release Monday, Alden said it sent Lee’s board a letter with the...
A late afternoon slump leaves major indexes mostly lower
A choppy day of trading on Wall Street ended with stocks mostly lower Monday, as a late-afternoon burst of selling derailed the market from another all-time high. The S&P 500 fell 0.3% after having been up as much as 1% earlier in the day and on pace to eclipse the...
Stocks wobble as Wall Street heads for a mixed weekly finish
Stocks wobbled in morning trading on Wall Street Friday and major indexes were on track for a mixed finish to a choppy week. The S&P 500 fell less than 0.1% as of 10:16 a.m. Eastern. The Dow Jones Industrial Average fell 247 points, or 0.7%, to 35,630 and the Nasdaq...
AAA predicts more than 53 million people will travel for Thanksgiving
AAA Travel is predicting that 53.4 million Americans will travel for the Thanksgiving holiday, an increase of 13% from 2020. According to AAA Travel’s latest data, the combination of 6.4 million more people traveling for the holiday this year and the reopening of the U.S. borders to fully vaccinated international...
Stock indexes end mixed as traders weigh retail earnings
A wobbly day on Wall Street ended with a mixed finish for stock indexes Thursday, nudging the S&P 500 and Nasdaq to new highs. The S&P 500 rose 0.3% and the Nasdaq gained 0.5%, enough for the indexes to set new highs after a modest pullback a day earlier. After...
With supply short, Ford dips toe into computer chip business
Ford Motor Co. is in talks with a computer chip maker to shore up its semiconductor supplies and avoid a repeat of this year’s auto factory shutdowns caused by semiconductor shortages. Few details of the nonbinding agreement with GlobalFoundaries Inc. were released, but the deal aims to boost supplies with...
Deere workers approve 3rd contract offer, will end monthlong strike
DETROIT — Deere & Co. workers approved a new contract Wednesday that will deliver 10% raises immediately and end a monthlong strike for more than 10,000 employees. The United Auto Workers union says 61% of the members approved the deal with the tractor maker on their third vote, even though...
U.S. stocks shuffle lower, pulling indexes further from highs
NEW YORK — Stock indexes shuffled lower Wednesday on Wall Street, pulling a bit further off their record heights. The S&P 500 fell 12.23 points, or 0.3%, to 4,688.67 after earlier drifting between a tiny gain and a 0.4% decline. It’s sitting just 13.03 points below its all-time high set...
Ohio retirement fund sues Facebook over investment lossVideo
COLUMBUS, Ohio — Ohio’s largest public employee pension fund has sued Facebook — now known as Meta — alleging that it broke federal securities law by purposely misleading the public about the negative effects of its social platforms and the algorithms that run them. The lawsuit by the Ohio Public...
