Wire stories category, Page 69
Despite chip shortage, GM posts $2.8B profit, ups guidance
DETROIT — Despite a computer chip shortage that temporarily closed some of its factories, General Motors made a healthy $2.8 billion net profit in the second quarter. The earnings came even though GM plants cranked out 200,000 fewer vehicles than they did during the same period in 2019, the last...
Stocks shake off a wobbly start, end higher on Wall Street
Technology and health care companies led a broad rally on Wall Street Tuesday that helped stocks overcome a wobbly start and recoup their losses from a day earlier. The S&P 500 rose 0.8% after having been down 0.3% in the early going. The gain inched the benchmark index to an...
Treasury Department’s borrowing plans assume debt-limit deal
WASHINGTON — The Treasury Department has unveiled plans to borrow $673 billion in the current quarter while employing emergency measures to keep the government from an unprecedented default on the national debt. Treasury Secretary Janet Yellen on Monday announced a new round of measures to keep the government under the...
Air travel hits another pandemic high, flight delays grow
Air travel in the U.S. is hitting new pandemic-era highs, and airlines are scrambling to keep up with the summer-vacation crowds. Despite rising numbers of coronavirus infections fueled by the delta variant, the U.S. set another recent high mark for air travel Sunday, with more than 2.2 million people going...
Stocks end mixed after starting August off on a choppy note
Stocks gave back some of their recent gains Monday after a day of choppy trading on Wall Street led the major indexes to a mixed finish. The S&P 500 slipped 0.2% in the final hour of trading after holding a slight gain for much of the afternoon. The benchmark index...
Square to buy installment payment firm Afterpay in $29B deal
Digital payments company Square Inc. says it has agreed to acquire Afterpay, which provides a “buy now, pay later” option for merchants, in an all-stock deal valued at about $29 billion. Square said Sunday it has agreed to buy all of the Australian company’s shares, and that the transaction’s estimated...
Stocks slip but are still on track for 6th monthly gain
Stocks fell in morning trading on Wall Street Friday with internet retail giant Amazon weighing down major indexes following a weak sales report and forecast. The S&P 500 index fell 0.4% as of 10:20 a.m. Eastern and is on pace for a weekly loss, though still poised to finish out...
Wall Street pushes broadly higher after two days of losses
Stocks on Wall Street bounced back from a two-day slide Thursday, placing the S&P 500 on pace for its second straight weekly gain. The S&P 500 index rose 0.4%, powered by broad gains. About 77% of the stocks in the benchmark index closed higher. Technology stocks and banks made some...
German federal court sides with Lindt in gold bunny battle
A German federal court ruled Thursday that the golden shade of the foil wrap on Lindt & Spruengli’s Gold Bunny, a popular chocolate Easter bunny, enjoys protected status. The Federal Court of Justice delivered its verdict in a battle between Switzerland’s Lindt and a German company, Heilemann, which in 2018...
Robinhood makes Wall Street debut, stumbles at start
Robinhood made its own leap into the stock market Thursday, the one it helped reshape by bringing millions of new investors to Wall Street, and its shares were falling in their first day of trading. Robinhood Markets’ stock was at $36.16, as of 1 p.m. Eastern time, down 4.7% from...
Google delays return to office, mandates vaccines
SAN RAMON, Calif. — Google is postponing a return to the office for most workers until mid-October and rolling out a policy that will eventually require everyone to be vaccinated once its sprawling campuses are fully reopened. The announcement Wednesday came as the more highly contagious delta variant is driving...
Stocks end mixed after Fed notes progress on the economy
Stock indexes capped a wobbly day of trading on Wall Street with mixed results Wednesday after the Federal Reserve said it was seeing improvement in the economy, but not enough to start dialing down its support measures. The S&P 500 slipped less than 0.1% after giving up a brief afternoon...
Can Biden’s efforts lead to more American factory jobs?
MACUNGIE, Pa. — President Joe Biden hoped to connect with blue-collar workers Wednesday at a truck factory in Pennsylvania during a visit to push new “buy American” efforts and advocate for government investments and clean energy as ways to strengthen U.S. manufacturing. Biden was touring the Lehigh Valley operations facility...
Robinhood IPO asks customers to play big role as investors
LOS ANGELES — Robinhood is disrupting another stock market norm — and taking a big risk — by giving ordinary investors access to a huge slice of its initial public offering. The popular online brokerage is taking the unusual step of allowing users of its trading app to buy up...
$15 wage becoming a norm as employers struggle to fill jobs
The signs and banners are dotted along suburban commercial strips and hanging in shop windows and restaurants, evidence of a new desperation among America’s service-industry employers: “Now Hiring, $15 an hour.” It is hardly the official federal minimum wage — at $7.25, that level hasn’t been raised since 2009 —...
Weakness in tech stocks pulls Wall Street back from records
A slide in technology and consumer-oriented companies helped pull stocks lower Tuesday on Wall Street, dragging the major indexes below the record highs they set a day earlier. The S&P 500 fell 0.5%, snapping a five-day winning streak. The selling was most pronounced in technology and communication stocks, and in...
Airlines cite concerns about fuel shortages at some airports
The fuel needle is moving closer to “empty” at some U.S. airports. American Airlines says it’s running into fuel shortages at some smaller and mid-size airports, and in some cases the airline will add refueling stops or fly fuel into locations where the supply is tight. The airline said that...
Stocks shake off a wobbly start and finish slightly higher
Wall Street capped a wobbly day for stocks with modest gains Monday, nudging the major indexes further into record territory. The S&P 500 shrugged off an early slide and gained 0.2%. Consumer-oriented companies, banks and energy and communications stocks helped lift the market. Those gains were kept in check by...
GM issues 2nd Bolt recall; faulty batteries can cause fires
General Motors is recalling some older Chevrolet Bolts for a second time to fix persistent battery problems that can set the electric cars ablaze. Until repairs are done, GM says owners should park the cars outdoors, limit charging to 90% of battery capacity, and not deplete batteries below 70 miles...
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...
