Wire stories category, Page 70
Stocks down, yields up as Fed discusses dialing back supportVideo
Stocks fell and bond yields climbed Wednesday after the Federal Reserve signaled it may start easing off the accelerator on its massive support for the economy earlier than previously thought. The S&P 500 fell 22.89, or 0.5%, to 4,223.70 after the Fed unveiled a highly anticipated set of projections by...
Southwest suffers technology problem for second straight day
DALLAS — Southwest Airlines said it was working Tuesday to restore normal operations after a technology-related issue interfered with flights for the second straight day. By midafternoon, the nation’s fourth-largest airline had canceled about 500 flights and delayed nearly 1,300 others, according to tracking service FlightAware. The combination of cancellations...
Stocks dip from records ahead of Fed decision on rates
NEW YORK — Stocks slipped from their record heights Tuesday as investors wait to hear whether the Federal Reserve will give any clue about when it may let up on its massive support for markets. The S&P 500 dipped 8.56, or 0.2%, to 4,246.59, as the Federal Reserve began a...
Neiman Marcus to spend $500M on new investments amid rebound
NEW YORK — Neiman Marcus is hoping to capitalize on rebounding luxury sales by investing more than $500 million over the next three years in refreshing stores, speeding up deliveries and acquiring new technology. The plan, unveiled Tuesday, includes a pact to purchase Stylyze Inc., a tech startup that recommends...
Lordstown Motors’ rough road continues; CEO and CFO are out
The top two executives at Lordstown Motors have resigned as problems at the Ohio electric truck startup mount. CEO Steve Burns and Chief Financial Officer Julio Rodriguez stepped down, the company said Monday, sending shares already down 40% this year tumbling more than 17%. The departures were announced on the...
Your 401(k) plan: 5 smart moves to make in 2021
More than half of Americans feel they just aren’t saving enough for retirement, according to a 2019 Bankrate survey. But for those who have fallen behind, it’s always a great time to take stock of your 401(k) plan and get moving on ways to set you up for greater wealth...
Pennsylvania’s gas-well revenue down as price, drilling drop
HARRISBURG — Pennsylvania’s counties and municipal governments will see the lowest level of annual fee revenue they get from Marcellus Shale gas wells, as drilling slowed and prices sank during the pandemic, the Pennsylvania Public Utility Commission said Monday. Impact fee revenue from Marcellus Shale wells sank to $146 million...
GM executive: Company to announce more battery plants this week
DETROIT — The president of General Motors says his company plans to announce more U.S. battery factories later this week. Mark Reuss gave no details of where the factories would be located or exactly what they would manufacture. He spoke in a weekend interview with The Associated Press at an...
Gains for some tech giants nudge S&P to another record high
Technology companies helped lift stocks higher Monday on Wall Street, nudging the S&P 500 to its third straight all-time high, even as other parts of the market faltered. A burst of buying in the final 10 minutes of trading sent the benchmark index 0.2% higher. The S&P 500 had been...
Stocks move higher, erasing weekly loss for the S&P 500
Stocks moved broadly higher Thursday, bringing the S&P 500 index out of the red for the week. Health care and technology companies were among the biggest gainers. The S&P 500 was up 0.6% as of 1:03 p.m. Eastern. The benchmark index is on track to close above its last all-time...
Meat company JBS confirms it paid $11M ransom in cyberattack
The world’s largest meat processing company says it paid the equivalent of $11 million to hackers who broke into its computer system late last month. Brazil-based JBS SA said on May 31 that it was the victim of a ransomware attack, but Wednesday was the first time the company’s U.S....
Own an Echo? Amazon may be helping itself to your bandwidth
Do you own an Amazon smart device? If so, odds are good that the company is already sharing your internet connection with your neighbors unless you’ve specifically told it not to. On Tuesday, the company launched a program that forces users of many Echo smart speakers and Ring security cameras...
Chipotle raises menu prices to cover higher employee wages
Employees at Chipotle Mexican Grill are making more money, and the consumer is covering the cost through increased menu prices. According to a report by CNBC, menu prices at Chipotle have risen by around 4% to cover the cost of increased hourly pay for the chain’s employees. Chipotle is one...
U.S. indexes end lower; more volatility for online favorites
A slide in banks and industrial companies nudged stocks on Wall Street to modest losses Wednesday after an early gain faded in the last half-hour of trading. Stocks championed by hordes of online retail investors, the “meme” stocks as they have become known, were volatile once again. The S&P 500...
Stocks end mostly higher; Wendy’s becomes latest meme stock
Major indexes closed mostly higher on Wall Street, thanks largely to gains in a handful of Big Tech companies. Small-company stocks continued to outpace the rest of the market, while investors’ attention turned to huge gains in a new batch of “meme” stocks favored by online investors, including Wendy’s and...
Stocks slip on Wall Street, pulling back from record highs
Stocks edged lower in midday trading Monday after briefly approaching the record highs they reached a month ago. The quiet opening to the week follows several choppy weeks as investors continue to gauge the economy’s recovery and the risks rising inflation. Wall Street faces a relatively light week of economic...
Maine’s blueberry crop faces climate change peril
Maine’s beloved wild blueberry fields are home to one of the most important fruit crops in New England, and scientists have found they are warming at a faster rate than the rest of the state. The warming of the blueberry fields could imperil the berries and the farmers who tend...
FBI subpoenas info on readers of news story on slain agents
The FBI issued a subpoena demanding U.S. newspaper giant Gannett provide agents with information to track down readers of a USA Today story about a suspect in a child pornography case who fatally shot two FBI agents in February. The subpoena, served on the company in April, came to light...
U.S. businesses struggle to fill jobs even as hiring picks up
Hiring in the United States picked up in May yet was slowed again by the struggles of many companies to find enough workers to keep up with the economy’s swift recovery from the pandemic recession. U.S. employers added 559,000 jobs last month, the Labor Department said Friday, an improvement from...
Facebook suspends Trump accounts for 2 years
Facebook said it is suspending former President Donald Trump’s accounts for two years following its finding that he stoked violence ahead of the deadly Jan. 6 insurrection. “At the end of this period, we will look to experts to assess whether the risk to public safety has receded. We will...
Bargain hunters pounce as Trump condo prices hit decade lows
NEW YORK — The building has stunning Manhattan skyline views, its spa offers deep-tissue massages, and the fancy restaurant off the lobby serves up prime steaks. Best of all, many apartments at the Trump World Tower are selling at a deep discount — assuming the buyer doesn’t mind the name...
Jobless claims dip below 400,000 for first time in pandemic
Applications for state unemployment insurance dipped below 400,000 for the first time during the pandemic as hiring accelerates and the economy strengthens heading into the summer months. Initial claims in regular state programs decreased by 20,000 to 385,000 in the week ended May 29, Labor Department data showed Thursday. The...
Stocks end lower on Wall Street; AMC sinks after stock saleVideo
Technology companies helped drag stocks lower on Wall Street Thursday, knocking the S&P 500 into the red for the week. The benchmark S&P 500 index dropped 0.4% and is now on track for a 0.3% weekly loss. Technology companies, whose pricey valuations make them more sensitive to inflation fears, were...
United bets on supersonic future with $3 billion Boom jet orderVideo
United Airlines is jumping into the potential market for supersonic travel with the first firm order for Boom Technology Inc.’s Overture aircraft, wagering that business flyers will pay top dollar for speedier trips across oceans. The airline will buy 15 of the supersonic jets, which are expected to carry passengers...
Stocks manage modest gains overall; AMC nearly doubles
Wall Street wrapped up another wobbly day of trading Wednesday with modest gains for the major stock indexes, as energy and technology companies kept losses elsewhere in the market in check. The benchmark S&P 500 rose 0.1% after wobbling between a gain of 0.4% and a loss of 0.1%. Strength...
