Wire stories category, Page 74
Miners’ union backs shift from coal in exchange for jobsVideo
WASHINGTON — The nation’s largest coal miners’ union said Monday it would accept President Joe Biden’s plan to move away from coal and other fossil fuels in exchange for a “true energy transition” that includes thousands of jobs in renewable energy and spending on technology to make coal cleaner. Cecil...
Stocks close lower, pulling indexes below record highs
Technology companies helped drag stocks broadly lower Monday, pulling the indexes below the record highs they reached last week. The S&P 500 dropped 0.5%, shedding more than a third of its gain from last week. Tech stocks were the biggest weight on the market, but the losses were shared broadly...
Mercedes rolls out luxury electric car in duel with Tesla
FRANKFURT, Germany — Daimler AG on Thursday unveiled a battery-powered counterpart to its top Mercedes-Benz luxury sedan as German carmakers ramp up their challenge to electric upstart Tesla. The EQS is the first Mercedes-Benz vehicle to be built on a framework designed from the start as an electric car, rather...
Dow crests 34,000 on more proof that economy is recovering
NEW YORK — Wall Street notched more milestones Thursday, as a broad market rally pushed the S&P 500 to an all-time high and the Dow Jones Industrial Average crossed above the 34,000 mark for the first time. The S&P 500 rose 1.1%, with technology, health care and communication stocks accounting...
Most stocks rise, indexes end mixed as earnings kick off
NEW YORK — Most stocks rose on Wednesday, but indexes petered out to a mixed finish as momentum weakened following an encouraging start to what’s expected to be a thunderous earnings reporting season. The S&P 500 fell 16.93 points, or 0.4%, to 4,124.66, a day after returning to an all-time...
Coinbase is here: A digital currency exchange goes public
Wall Street is still waiting on the first trade for Coinbase, as the digital currency exchange makes its highly-anticipated debut on the stock market. Coinbase Global Inc. is making its initial public offering of stock Wednesday with cryptocurrency chatter seemingly everywhere, even at the U.S. Federal Reserve. Digital currencies are...
U.S. budget deficit jumps to record $1.7 trillion this year
WASHINGTON — The U.S. government’s budget deficit surged to an all-time high of $1.7 trillion for the first six months of this budget year, nearly double the previous record, as another round of economic-support checks added billions of dollars to spending last month. In its monthly budget report, the Treasury...
Drivers wanted: Record demand at Uber as vaccinations rise
Uber is offering sign-up bonuses and other incentives for drivers as it faces record demand for rides and meal delivery. The San Francisco ride-hailing company said Monday that total monthly bookings, including food delivery and passenger service, reached an all-time high in March. In a government filing, the company said...
Stocks end slightly below latest record highs as tech slips
Stock indexes gave up some of their recent gains Monday, pulling the S&P 500 slightly below the record high it hit last week. Technology, communication and energy stocks weighed on the market, outweighing gains by a broad mix of companies, including banks and those that rely directly on consumer spending,...
Study: Facebook delivers biased job ads, skewed by gender
Facebook is showing different job ads to women and men in a way that might run afoul of anti-discrimination laws, according to a new study. University of Southern California researchers who examined the ad-delivery algorithms of Facebook and LinkedIn found that Facebook’s were skewed by gender beyond what can be...
Judge orders delay amid debate over Dakota Access pipeline
BISMARCK, N.D. — A judge on Friday delayed a decision on whether the Dakota Access Oil pipeline should be shut down while the U.S. Army Corps of Engineers conducts an environmental review on the project, after lawyers for the pipeline asked for more time to outline the effects of recent...
Walmart eyes local companies as McDonald’s exits some stores
As McDonald’s works on closing some of its locations within Walmart stores, the retailer is looking to put local businesses and others into place. McDonald’s has gradually been closing locations at Walmart stores over the years but will keep a presence within about 150 Walmarts. Walmart spokeswoman Molly Blakeman said...
Tech companies help lift stocks, push S&P 500 to record high
Technology companies helped lift stocks higher on Wall Street in afternoon trading Friday, placing the market within striking distance of more record highs. The gains are in line with the market’s modest upward tack this week as investors weigh concerns about the virus tripping up a steady economic recovery against...
Amazon warehouse workers reject union bid in Alabama
Amazon workers voted against forming a union at a warehouse in Alabama, handing the online retail giant a decisive victory and cutting off a path that labor activists had hoped would lead to similar efforts throughout the company and beyond. After months of aggressive campaigning from both sides, 1,798 warehouse...
Airlines pull Boeing Max jets to inspect electrical systems
Airlines pulled dozens of Boeing Max 737s out of service for inspections after the aircraft maker told them about a possible electrical problem, the latest setback for the plane. Boeing said Friday that the issue affected planes used by 16 airlines. The company did not say how many planes are...
Florida sues federal government to allow cruises to sailVideo
MIAMI — The state of Florida has filed a lawsuit against the federal government to demand cruise ships be allowed to start sailing immediately, Gov. Ron DeSantis announced Thursday. DeSantis said the no-sail order is outdated and hurts the state as the industry generates billions for the economy and employs...
Fed’s Jerome Powell: U.S. nears full reopening to ‘different economy’Video
WASHINGTON — The U.S. economy, boosted by quickening vaccinations and signs of rapid hiring, is headed toward a strong recovery, Federal Reserve Chair Jerome Powell said Thursday. But he cautioned that not all will immediately benefit. “There are a number of factors that are coming together to support a brighter...
Stocks rise as lower bond yields help lift tech companies
Technology companies led stocks to more gains Thursday on Wall Street, nudging the S&P 500 to an all-time high for the third time this week. The benchmark index rose 0.4% and is on track for its third straight weekly gain. Stocks within the S&P 500 were about evenly split between...
Stocks close mixed; S&P 500 notches another record high
Wall Street capped another choppy day of trading Wednesday with a mixed finish for stock indexes and another all-time high for the S&P 500. The benchmark index inched up 0.1% after spending much of the day wavering between small gains and losses. Technology, communication and financial companies helped lift the...
U.S. trade deficit jumps 4.8% to $71.1 billion in February
The U.S. trade deficit grew to a record $71.1 billion in February as a decline in exports more than offset a slight dip in imports, with severe weather taking much of the blame from analysts, who were expecting a slightly lower gap. The coronavirus pandemic has stifled global trade for...
Stocks slip on Wall Street as market eases back from records
A wobbly day of trading on Wall Street left stocks slightly lower Tuesday, pulling the market back from the all-time highs it reached a day earlier. The S&P 500 snapped a three-day winning streak, slipping 0.1% after wavering between small gains and losses much of the afternoon. Stocks within the...
Stocks close broadly higher after big job gains in March
Stocks on Wall Street notched broad gains Monday as investors welcomed more signs that the economy is on the path to recovery, The S&P 500 rose 1.4% to an all-time high after closing above the 4,000-point mark for the first time last Thursday. The Dow Jones Industrial Average also set...
Amazon apologizes to congressman for bogus ‘peeing’ tweet
NEW YORK — Amazon is sorry for tweeting about peeing. The company apologized in a late Friday blog post for a tweet it sent to a congressman more than a week ago denying that its employees work so hard they must urinate in empty water bottles. It also admitted that...
Global stocks rise; Treasury yields rally after jobs report
NEW YORK — Stocks rose in many of the markets worldwide that were open on Good Friday, while Treasury yields rallied after a report showed U.S. employers added hundreds of thousands more jobs last month than economists expected. The U.S. bond market closed early after an holiday-shortened session that saw...
Wall Street moves higher, pushing S&P 500 over 4,000 level
Stocks were moderately higher Thursday, helped by a rise in technology companies as well as smaller companies, which would benefit from a quickly growing economy. The S&P 500 rose 0.8% as of 11:44 a.m. Eastern, crossing the 4,000-point mark for the first time. The benchmark index is coming off its...
