Wire stories category, Page 71
Even after Bernie Madoff’s death, work to unwind epic fraud goes on
NEW YORK — Epic Ponzi scheme mastermind Bernie Madoff is dead. But the effort to untangle his web of deceit lives on. More than 12 years after Madoff confessed to running one of the biggest financial fraud in Wall Street history, a team of lawyers is still at work on...
U.S. cities to power revival in domestic travel, TripAdvisor CEO saysVideo
The United States will have a busy vacation season this summer as cities make a strong comeback, according to Stephen Kaufer, chief executive officer of TripAdvisor Inc. “Now we have a lot more activities all around the country, and it’s not just outdoors. The cities are making a very real...
Microsoft: SolarWinds hackers target 150 organizations with phishing
The state-backed Russian cyber spies behind the SolarWinds hacking campaign launched a targeted spear-phishing assault on U.S. and foreign government agencies and think tanks this week using an email marketing account of the U.S. Agency for International Development, Microsoft says. The effort targeted about 3,000 email accounts at more than...
Bank CEOs tell Congress they’ll work to avoid foreclosuresVideo
WASHINGTON — The chief executives of the nation’s largest banks went in front of Congress for a second day Thursday, facing questions ranging from bitcoin to their efforts to keep Americans in their homes after government aid to pandemic-hit mortgage holders expires this summer. The House hearing comes after senators...
Fewer Americans sign contracts to buy homes in April
SILVER SPRING, Md. — Fewer Americans signed contracts to buy homes in April as a lack of supply continues to foil would-be buyers. The National Association of Realtors’ index of pending home sales fell 4.4% to 106.2 in April, a third straight sluggish month after nearly a year-long rebound from...
U.S. jobless claims fall to 406,000, a new pandemic low
WASHINGTON — The number of Americans seeking unemployment benefits dropped last week to 406,000, a new pandemic low and more evidence that the job market is strengthening as the virus wanes and economy further reopens. Thursday’s report from the Labor Department showed that applications declined 38,000 from 444,000 a week...
Shoppers go back to stores, but retailers face challenges
NEW YORK — Americans are going back to one of their favorite past times: store shopping. With more people getting vaccinated and dropping their face masks, retailers from Walmart to Macy’s are seeing an eager return to their stores after more than a year of their customers migrating online during...
Stocks close modestly higher after choppy day on Wall Street
A choppy day of trading on Wall Street ended with stocks closing higher Wednesday, reversing much of the S&P 500’s modest pullback the day before. The benchmark index ended just under 0.2% higher after wavering between small gains and losses. Retailers and other companies that rely on consumer spending made...
New Era apologizes, pulls hats mocked on social media
NEW YORK — New Era says it pulled a lampooned line of Major League Baseball hats from its website Tuesday and is apologizing for design inaccuracies on the caps meant to pay homage to communities with big league clubs. New Era spokesman Mark Maidment said in a statement Wednesday to...
Workers return to weirder offices with moveable walls and touchless elevators
Masked, desk-bound and unable to recognize their colleagues in an elevator, people are starting to return to offices in cities around the world where the pandemic is receding. Many will find their offices transformed, too. In the challenge to make offices both covid-19-safe and attractive places to work, firms have...
Stocks give up an early gain and end lower on Wall Street
Wall Street capped a listless day of trading Tuesday with a modest pullback for the major U.S. stock indexes, giving back some of the market’s gains after a solid start to the week. The S&P 500 slipped 0.2% after spending much of the day wavering between small gains and losses....
Board fight at Exxon intensifies spotlight on climate change
NEW YORK — ExxonMobil is facing a major challenge from a group of investors in one of the biggest fights a corporate boardroom has endured over its stance on climate change, an issue of rising urgency for many shareholders. The investor group is pushing to replace four of the oil...
D.C. files antitrust case vs Amazon over treatment of vendors
The District of Columbia has sued Amazon, accusing the online retail giant of anticompetitive practices in its treatment of sellers on its platform. The practices have raised prices for consumers and stifled innovation and choice in the online retail market, the D.C. attorney general alleges in an antitrust suit. The...
Peloton plans to build 1st U.S. factory in Ohio, add 2K jobs
Peloton plans to spend about $400 million to build its first U.S. factory in Ohio. The exercise equipment maker said Monday that the Peloton Output Park will make the Peloton Bike, Bike+ and Peloton Tread starting in 2023. It will have more than 200 acres and more than 1 million...
Stocks climb on Wall Street as appetite for risk returns
Stocks closed higher Monday on Wall Street, and the broad rally helped the S&P 500 claw back more than half of its losses over the past two weeks. The benchmark index rose 1%, led by solid gains in technology and communication companies such as Microsoft, Google’s parent company, Facebook and...
Stocks end a wobbly day mixed; S&P 500 posts a weekly loss
Wall Street racked up more losses Friday on a choppy day of trading that left the major indexes mixed and the S&P 500 with its second straight weekly decline. The S&P 500 ended 0.1% lower after having been up 0.7% in the early going. The benchmark index, which hit an...
Ford CEO says U.S. needs to regulate automated driving systems
DETROIT — The CEO of America’s second-largest auto company is calling for the federal government to set standards for fully or partially automated vehicles to tighten the safety of electronic driving systems. In urging federal regulation, Ford CEO Jim Farley becomes the highest-profile auto executive to publicly recognize a need...
Kia recalls vehicles a 2nd time, warns owners to park outside
DETROIT — Kia is recalling more than 440,000 cars and SUVs in the U.S. for a second time to fix a problem that can cause engine fires. And the automaker is telling owners to park them outdoors and away from structures because fires could happen when the engines aren’t running....
Stocks end higher on Wall Street, breaking a 3-day slump
Technology companies led broad gains for stocks on Wall Street Thursday, ending a three-day losing streak for major U.S. indexes. Investors were encouraged by the latest jobs data that showed fewer Americans filing for unemployment benefits, another sign that the economic recovery is underway. The S&P 500 gained 1.1%. The...
Stocks fall for a 3rd straight day; Bitcoin sinks after a wild ride
Wall Street racked up more losses Wednesday as the stock market pulled back for the third straight day. The broad sell-off went beyond stocks, with the price of Bitcoin and other cryptocurrencies falling sharply. The S&P 500 index dropped 0.3% after recovering from a 1.6% slide earlier in the day....
Report: Colonial confirms it paid $4.4M to pipeline hackers
The operator of the nation’s largest fuel pipeline confirmed it paid $4.4 million to a gang of hackers who broke into its computer systems, according to a report Wednesday from the Wall Street Journal. Colonial Pipeline’s CEO, Joseph Blount, told the Journal he authorized the payment after the May 7...
Airline passengers may soon get weighed before boarding flight
Passengers boarding an airplane may soon be asked to step on a scale to measure their weight before the flight, according to a report by View from the Wing. The preboarding weight check would come in order to comply with FAA rules. According to the report, the calculations airlines have...
A late drop leaves Wall Street indexes lower, led by techVideo
Stocks closed lower Tuesday on Wall Street as a late-afternoon sell-off in technology companies helped nudge stock indexes into the red for the second straight day. The S&P 500 lost 0.9%, with most of the pullback coming in the last hour of trading. Apple, Facebook and Google’s parent company all...
EU, U.S. agree to temporarily suspend tariffs in steel dispute
BRUSSELS — The European Union and the United States on Monday decided to temporarily suspend measures at the heart of a steel tariff dispute that is seen as one of the major trade issues dividing the two sides. With the decision, “we are walking the talk in our efforts to...
Stocks fall in morning trading on Wall Street as tech lags
Stocks fell in morning trading on Wall Street Monday as the market comes off of its worst weekly decline since February. Big Tech stocks were the heaviest weights pulling the major indexes lower. The sector has been responsible for big swings in either direction over the last few weeks as...
