Wire stories category, Page 72
Report: Microsoft investigated Bill Gates before he left board
NEW YORK — Board members at Microsoft Corp. made a decision in 2020 that it wasn’t appropriate for its co-founder Bill Gates to continue sitting on its board as they investigated the billionaire’s prior romantic relationship with a female Microsoft employee that was deemed inappropriate, according to a report in...
Gas crunch from cyberattack intensifies in nation’s capital
Gas shortages at the pumps have spread from the South, all but emptying stations in Washington, D.C., following a ransomware cyberattack that forced a shutdown of the nation’s largest gasoline pipeline. Though the pipeline operator paid a ransom, restoring service was taking time. As Georgia-based Colonial Pipeline reported making “substantial...
Delta will require new hires to be vaccinated against coronavirus
Delta Air Lines will require new employees to be vaccinated against covid-19 starting Monday. The airline won’t impose the same requirement on current employees, more than 60% of whom are vaccinated, a Delta spokesman said Friday. Delta has about 74,000 employees. American, United, Southwest and Alaska airlines, however, said they...
Passing on your password? Streaming services are past it
Many of us were taught to share as kids. Now streaming services ranging from Netflix to Amazon to Disney+ want us to stop. That’s the new edict from the giants of streaming media, who are hoping to discourage the common practice of sharing account passwords without alienating subscribers who’ve grown...
Stocks move higher, but are still headed for weekly losses
Stocks were solidly higher in morning trading Friday, but the market is still on track to end the week in the red after three days of steep drops earlier in the week. Investors continue to focus on the possibility of inflation as the U.S. economy recovers from the coronavirus pandemic....
Amazon seeks to hire 75,000; offers $100 to vaccinated hires
NEW YORK — Amazon is seeking to hire 75,000 people in a tight job market and is offering bonuses to attract workers, including $100 for new hires who are already vaccinated for covid-19. The jobs are for delivery and warehouse workers, who pack and ship online orders. Amazon, which already...
Stocks climb after three days of losses, led by Big TechVideo
Wall Street followed up a three-day losing streak with a broad stock market rally Thursday powered by Big Tech companies and banks. The S&P 500 notched a 1.2% gain, clawing back almost half of its loss from a day earlier, when it had its biggest one-day drop since February. Even...
Tesla to stop accepting Bitcoin for car payments
Electric car maker Tesla will stop accepting Bitcoin as a payment, CEO Elon Musk tweeted on Wednesday, citing environmental concerns. “We are concerned about rapid increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk said on Twitter. He...
Stocks sink again on Wall Street as inflation worries mount
Inflation worries rattled Wall Street on Wednesday, pulling the Dow Jones Industrial Average more than 680 points lower and placing the major stock indexes on track for their worst week in more than six months. The selling came as investors reacted to a surprisingly big jump in inflation last month...
Wall Street opens lower led by more drops in Big Tech stocks
BANGKOK — Shares dropped Tuesday in Asia after selling of several Big Tech companies pulled U.S. benchmarks lower. Paris, Frankfurt, Tokyo and Hong Kong declined while Shanghai advanced. Despite reassurances from the Federal Reserve and a much weaker than expected U.S. jobs reading last week, investors have refocused on the...
Tech sell-off drags stocks lower, pulling market below highsVideo
A sell-off in technology companies dragged stocks lower Monday on Wall Street, pulling the major indexes back from their recent all-time highs. The S&P 500 fell 1% after wobbling between small gains and losses the first half of the day. The decline broke a three-day winning streak for the benchmark...
AGs urge Facebook to drop ‘Instagram for kids’ proposalVideo
A bipartisan group of 44 attorneys general has written to Facebook CEO Mark Zuckerberg urging him to drop company plans for a version of Instagram for children under the age of 13, Massachusetts Attorney General Maura Healey announced Monday. The attorneys general in the letter said they are concerned about...
Facebook rules are ‘shambles,’ oversight board co-chairman saysVideo
WASHINGTON — Facebook Inc.’s internal rules for banning content are a “shambles,” and the company needs to fix the process to have credibility in enforcing them, a member of the social media giant’s independent content oversight board said. The comments by Michael McConnell, the panel’s co-chairman, follow its decision last...
Breeze eases plan to rely on students as flight attendants
Breeze Airways, a start-up carrier that hopes to begin flying this spring, is giving up on a plan to hire only college students as flight attendants after the strategy failed to draw enough applicants. The airline founded by JetBlue creator David Neeleman posted a new listing for flight attendants on...
Stocks rally to records after grim jobs data undercuts rates
NEW YORK — Stocks are rallying to records on Wall Street Friday despite a stunningly disappointing report on the nation’s job market, as investors see it helping to keep interest rates low. The S&P 500 rose 0.7% in morning trading, above the 4,232 level. If it stays there, it would...
Fed warns U.S. financial system remains vulnerable to threats
WASHINGTON — The Federal Reserve is warning that the U.S. financial system remains vulnerable to threats stemming from the global pandemic, including the possibility of a sharp rise in global interest rates that could strain developing countries. A worsening of the pandemic could stress the financial systems in emerging markets...
Google says 20% of workers will be remote, many more hybrid
Google says it expects about 20% of its workforce to still work remotely after its offices reopen this fall, while some 60% will work a hybrid schedule that includes about three days in the office and two days “wherever they work best.” The remaining 20% can change their location to...
Nebraska launches ‘beef passport’ program for meat eating
Nebraska Gov. Pete Ricketts ramped up his crusade for the meat industry on Wednesday by endorsing a new “beef passport” program to promote meat eating, a few weeks after he blasted Colorado’s governor for a resolution encouraging its residents to eat less. Ricketts, a Republican, cast meat as essential to...
Stocks edge higher as tech gains offset healthcare slide
A choppy day of trading on Wall Street ended Thursday with stocks broadly higher and another all-time high for the Dow Jones Industrial Average. Banks and technology companies led a late-afternoon turnaround that pushed the S&P 500 to a 0.8% gain, reversing the benchmark index’s losses for the week. Gains...
Productivity rebounds at solid 5.4% rate in 1st quarter
U.S. productivity posted a sharp rebound between January and March after falling in the previous quarter. Labor costs declined slightly. Productivity increased at an annual rate of 5.4% in the first quarter, recovering from a 3.8% rate of decline in the fourth quarter of last year, the Labor Department reported...
Stock indexes mixed as tech rebound fades; Peloton sinks
Major U.S. stock indexes closed mixed Wednesday after an early technology company rebound faded, tempering the market’s recovery from a sell-off a day earlier. The S&P 500 eked out a 0.1% gain after having been up 0.7% in the early going. The Dow Jones Industrial Average managed a 0.3% gain,...
Janet Yellen clarifies she is not predicting Fed rate increasesVideo
WASHINGTON — Treasury Secretary Janet Yellen said Tuesday that she is not predicting when the Federal Reserve may need to start raising interest rates. She was seeking to clarify her earlier remarks that rattled financial markets. Yellen suggested early Tuesday that interest rates may need to rise slightly to keep...
Technology shares sink broader market although Dow has gain
Technology companies dragged indexes lower Tuesday on Wall Street, pulling the market further from its recent all-time highs. The S&P 500 fell 0.7%, erasing its gains from last week. Big technology companies like Apple and Microsoft fell as the sector declined for the sixth straight day. Losses in communications stocks...
Verizon sells internet trailblazers Yahoo and AOL for $5BVideo
AOL and Yahoo are being sold again, this time to a private equity firm. Wireless company Verizon will sell Verizon Media, which consists of the once-pioneering tech platforms, to Apollo Global Management in a $5 billion deal. Verizon said Monday that it will keep a 10% stake in the new...
Wall Street logs gains Monday on strong earnings
Health care and energy companies helped push stocks higher Monday, as Wall Street kicked off the first trading day in May with more gains after a four-month winning streak. The S&P 500 rose 0.3%. Industrial and financial stocks also helped lift the market. Falling technology and communication stocks, and companies...
