Wire stories category, Page 68
Indexes inch higher on Wall Street, preserving weekly gainsVideo
Stocks eked out modest gains Thursday on Wall Street, extending the market’s winning streak into a third day and keeping the major indexes on pace to end the week higher. The S&P 500 shrugged off a midday slide and rose 0.2%. Banks, energy companies and industrial stocks weighed on the...
Amazon’s mission: Getting a ‘key’ to your apartment building
Amazon is tired of ringing doorbells. The online shopping giant is pushing landlords around the country — sometimes with financial incentives — to give its drivers the ability to unlock apartment-building doors themselves with a mobile device. The service, dubbed Key for Business, is pitched as a way to cut...
FirstEnergy to pay $230M in settlement in Ohio bribery case
The energy giant at the center of a $60 million bribery scheme in Ohio admitted to riveting new details of its role in the conspiracy Thursday as part of a settlement agreement with federal prosecutors, including how it used secret dark money groups to fund the effort and paid a...
Biden says high inflation is temporary, but economists aren’t so sureVideo
WASHINGTON — President Joe Biden said this week that “no serious economist” is suggesting price increases could spiral out of control, as he sought to reassure Americans that the current spikes are temporary. But some nonpartisan economic experts say they see cause for concern that inflation will continue to climb...
Netflix confirms move into video games as its growth slowsVideo
SAN RAMON, Calif. — Netflix reported its worst slowdown in subscriber growth in eight years as people emerge from their pandemic cocoons. So it’s adding a new attraction to its marquee: Video games. On Tuesday, the video streaming giant announced it will offer video games in its existing subscription plans...
Stocks regain much of the ground they lost a day earlierVideo
Stocks jumped Tuesday on Wall Street, making up much of the ground they lost a day earlier when worries flared about spreading cases of the more contagious variant of covid-19. The comeback was the latest rebound following a pullback as investors continue to try and assess how badly rising infections...
Stocks skid, yields sink as coronavirus fears shake global markets
NEW YORK — Resurgent pandemic worries knocked stocks lower from Wall Street to Tokyo on Monday, fueled by fears that faster-spreading variants of the virus may upend the economy’s strong recovery. The S&P 500 fell 68.67, or 1.6%, to 4,258.49, after setting a record just a week earlier. In another...
AT&T inks 10-year wireless partnership with Dish Network worth at least $5 billion
Dish Network has entered into a “transformative, long-term strategic network services agreement” with Dallas-based AT&T making it the primary network partner for Dish’s mobile customers, according to a regulatory filing. As part of the agreement, Dish agreed to pay AT&T at least $5 billion for access to its wireless network...
Ben & Jerry’s to stop sales in West Bank, east Jerusalem
Ben & Jerry’s said Monday it was going to stop selling its ice cream in the Israeli-occupied West Bank and contested east Jerusalem, saying the sales in the territories sought by the Palestinians are “inconsistent with our values.” The announcement was one of the strongest and highest-profile rebukes by a...
Zoom buying Five9 in $14.7B all-stock transaction
Zoom, the videoconferencing company whose growth was supercharged by the pandemic over the past year, will buy the cloud call center company Five9 in an all-stock deal valued at about $14.7 billion. That is far greater than Zoom’s market valuation a little over two years ago when it went public...
Why are prices for groceries, gas, and used cars going up? Experts explain
A few years ago, Yvonne Ferguson-Hardin had no trouble finding a used car for her oldest daughter. This year, car shopping for her younger daughter has been harder. And stranger. One online seller never showed up to a meeting. Another was actually selling toy cars instead of real ones. Then...
Johnson & Johnson recalling sunscreens because of benzene traces
Johnson & Johnson said Wednesday that it is recalling five of its sunscreen products after some samples were found to contain low levels of benzene, a chemical that can cause cancer with repeated exposure. The affected products, packaged in aerosol cans, are Aveeno Protect + Refresh aerosol sunscreen, and four...
Stocks end a wobbly day mixed and just shy of record highs
Wall Street capped a wobbly day of trading with mixed results Wednesday, as a rally in technology stocks was kept in check by a slide in banks and energy companies. The S&P 500 eked out a 0.1% gain after recovering from an early stumble and then losing much of its...
Stocks ease below recent records as earnings reports roll in
Stocks gave up early gains and closed broadly lower Tuesday as investors weighed the latest quarterly earnings reports from big U.S. companies and new data pointing to rising inflation. The S&P 500 fell 0.4%, with most of the companies in the benchmark index losing ground. Banks, industrial stocks and companies...
Stock indexes notch more records ahead of earnings reports
Banks led stocks to modest gains Monday on Wall Street, nudging the major stock indexes to more record highs ahead of a busy week of corporate earnings reports from big U.S. companies. The S&P 500 gained 0.3% after bouncing back from an early stumble. The benchmark index, which has notched...
Report: Drugmakers’ spending on stock, dividends and executive pay exceeds research
The largest drug companies are far more interested in enriching themselves and investors than in developing new drugs, according to a House committee report that argues the industry can afford to charge Medicare less for prescriptions. The report, released Thursday by the House Oversight and Reform Committee, says that contrary...
Stocks solidly higher as investors turn to company earnings
Stocks were solidly higher Friday, putting the market on track to end this holiday-shortened week with a slight gain and more record highs. Investors will turn their attention toward company earnings, which kick off next week. The S&P 500 index was up 1% as of 2:31 p.m. Eastern. The Dow...
Biden tells Putin that Russia must crack down on cybercriminals
WASHINGTON — President Joe Biden told Russian President Vladimir Putin in a Friday phone call that he must “take action” against cybercriminals acting in his country and that the U.S. reserves the right to “defend its people and its critical infrastructure,” the White House said. The conversation came less than...
Amtrak plan to replace dozens of aging trains: cost $7.3B
DETROIT — Amtrak plans to spend $7.3 billion to replace 83 passenger trains, some nearly a half-century old, though much of the funding must still be approved by Congress. Amtrak said Wednesday that under the contract with German manufacturer Siemens AG, some of the trains will be hybrids, able to...
Chinese social media giant WeChat shuts LGBT accounts
China’s most popular social media service has deleted accounts on LGBT topics run by university students and nongovernment groups, prompting concern the ruling Communist Party is tightening control over gay and lesbian content. WeChat sent account holders a notice they violated rules but gave no details, according to the founder...
Patio furniture shortage tells U.S. economic tale
COCKEYSVILLE, Maryland — People used to go to Valley View Farms to buy five tomato plants and end up with $5,000 in patio furniture. This year is different. After a record burst of sales in March, the showroom floor is almost empty of outdoor chairs, tables and chaises for people...
Trump files suit against Facebook, Twitter and YouTube
WASHINGTON — Former President Donald Trump has filed suit against three of the country’s biggest tech companies, claiming he and other conservatives have been wrongfully censored. Trump announced the action against Facebook, Twitter and Google’s YouTube, along with the companies’ CEOs, at a press conference Wednesday in New Jersey. He...
S&P 500 sees 1st decline after 7 straight gains; oil falls
Banks and energy companies helped pull stocks mostly lower Tuesday on Wall Street, ending the S&P 500’s seven-day run of record high closes. The benchmark index fell 0.2% after having been down 0.9%. The Dow Jones Industrial Average fell 0.6%. Tech stocks rose, helping the Nasdaq to a modest gain...
New U.S. rules to protect animal farmers expected soon
OMAHA, Neb. — The Biden administration plans to issue a new rule to protect the rights of farmers who raise cows, chickens and hogs against the country’s largest meat processors as part of a plan to encourage more competition in the agriculture sector. The new rule that will make it...
Pentagon cancels disputed JEDI cloud contract with Microsoft
WASHINGTON — The Pentagon said Tuesday it is canceling a cloud-computing contract with Microsoft that could eventually have been worth $10 billion and will instead pursue a deal with both Microsoft and Amazon. “With the shifting technology environment, it has become clear that the JEDI Cloud contract, which has long...
