Wire stories category, Page 8
Wall Street extends its gains to a 9th straight day, reclaiming losses since tariff escalation
Wall Street extended its gains to a ninth straight day, marking its longest winning streak since 2004 and reclaiming the ground it lost since President Donald Trump escalated his trade war in early April. The rally on Friday was spurred by a better-than-expected report on the job market and resurgent...
Apple posts stronger-than-expected Q2 results, says majority of U.S. iPhones sold will come from India
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s...
Kohl’s ousts CEO Ashley Buchanan after investigation into conflicts of interest
Kohl’s said it has terminated its new CEO Ashley Buchanan after an investigation determined that he directed the retailer to engage in vendor transactions that involved undisclosed conflicts of interest. Kohl’s named Chairman Michael Bender as interim CEO, effective immediately. In connection with the appointment, Bender will step down as...
Court sides with Fortnite maker Epic as Apple sanctioned for defying order in App Store case
A federal judge has strongly rebuked Apple, finding that the iPhone maker willfully violated a court injunction in an antitrust case filed by “Fortnite” maker Epic Games. U.S. District Judge Yvonne Gonzalez Rogers had ordered Apple to lower the barriers protecting its previously exclusive payment system for in-app digital transactions...
Wall Street storms back from early losses, echoing its manic moves through a historic AprilVideo
NEW YORK — Much like its wild month of April, a scary Wednesday for Wall Street found a gentler ending as stocks stormed back from steep early losses to continue their manic swings amid uncertainty about what President Donald Trump’s trade war will do to the economy. The S&P 500...
Economy shrinks 0.3% in 1st quarter as Trump trade wars disrupt businessesVideo
The U.S. economy shrank at a 0.3% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted business. First-quarter growth was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before Trump...
Wall Street: Stocks end day mixed with potential for big swings on horizon
NEW YORK — U.S. stocks drifted to a mixed finish on Monday, ahead of potential flashpoints this week that could bring more sharp swings for financial markets. The S&P 500 inched up by 0.1% to extend its winning streak to a fifth day. The Dow Jones Industrial Average added 114...
Market turmoil has many afraid to check retirement savings
NEW YORK — Michael Montgomery used to check the balance on his retirement account once a week and smile. But lately, not wanting to get upset and question if he could retire in a few years, there was only one solution. “I’m not looking,” says the 66-year-old professor from Huntington...
Family of Pennsylvania arson suspect says pleas for help went unanswered before alleged attack on governor
PHILADELPHIA — Cody Balmer was begging to go to jail. Less than an hour after police say he set fire to Gov. Josh Shapiro’s mansion in the early morning of April 13, he called 911 to say he was ready to “confess to everything” he had done. “He needs to...
Sen. Chris Murphy’s ’emergency’ message about Trump is connecting with Democratic voters
SAXAPAHAW, N.C. — Connecticut Sen. Chris Murphy isn’t drawing stadium-size crowds like Vermont Sen. Bernie Sanders and New York Rep. Alexandria Ocasio-Cortez are as he tours the country talking to voters. But in a packed concert hall in rural North Carolina, people are starting to view the Democrat as worthy...
Elon Musk’s X sues to overturn Minnesota political deepfakes ban
MINNEAPOLIS — X Corp., the social media platform owned by Trump adviser Elon Musk, is challenging the constitutionality of a Minnesota ban on using deepfakes to influence elections and harm candidates, saying it violates First Amendment speech protections. The company’s federal lawsuit filed this week also contends the 2023 state...
Pastor calls for ‘full Target boycott’ over concerns about diversity, equity, inclusionVideo
ATLANTA — The pastor of a Georgia megachurch who led a nationwide 40-day “fast” boycott of Target stores over the retail chain’s commitment to diversity initiatives is now calling for that effort to continue as a “full Target boycott.” The Rev. Jamal Bryant said this week that the Minneapolis-based retailer...
Elon Musk says he’ll spend less time in Washington and more time running Tesla after its profit plunges
NEW YORK — Elon Musk says he’ll be spending less time in Washington slashing government costs and more time running Tesla after his electric vehicle company reported a big drop in profits. Musk said on a conference call with analysts Tuesday that “now that the major work of establishing Department...
Sellers of secondhand clothes prepare for tariffs to give their businesses a boost
NEW YORK — Stores selling secondhand clothes, shoes and accessories are poised to benefit from President Donald Trump’s trade war even as businesses the world over race to avert potential damage, according to industry experts. American styles carry international influence, but nearly all of the clothing sold domestically is made...
Strange sell-off in the dollar raises specter of investors losing trust in U.S. under Trump
NEW YORK — Among the threats tariffs pose to the U.S. economy, none may be as strange as the sell-off in the dollar. Currencies rise and fall all the time because of inflation fears, central bank moves and other factors. But economists worry that the recent drop in the dollar...
Capital One $35 billion purchase of Discover Financial gets regulatory approvals
NEW YORK — The pending merger between Capital One and Discover Financial services received approval from several regulators Friday, bringing the $35 billion tie-up closer to completion. The Federal Reserve and the Office of the Comptroller of the Currency signed off on the deal, which was first announced in February...
UnitedHealth’s worst drop in decades weighs on U.S. indexes even as most stocks tick higher
NEW YORK — The worst plunge for UnitedHealth Group’s stock in more than a quarter century is weighing on Wall Street, even as most stocks ticked higher. The S&P 500 was 0.1% lower in its final day of trading for a holiday-shortened week. The Dow Jones Industrial Average was down...
U.S. stocks drop as Nvidia slides and the fog of Trump’s trade war thickens
NEW YORK — U.S. stocks fell Wednesday after Nvidia warned new restrictions on exports to China will chisel billions of dollars off its results, while companies around the world said President Donald Trump’s trade war is clouding forecasts for how they and the economy will do this year. The S&P...
Wall Street drifts in a rare quiet day following weeks of tariff turmoil
NEW YORK — U.S. stocks are drifting Tuesday in a rare quiet day for financial markets worldwide, for now at least. The S&P 500 was up 0.2% in early trading, though it’s been prone to huge swings not just day to day but also hour to hour. It’s regularly careened...
Stocks rally worldwide after Trump eases some of his tariffs on electronics, for now
NEW YORK — Stocks rose worldwide Monday after President Donald Trump relaxed some of his tariffs, for now at least, and as stress from within the U.S. bond market seems to be easing. The S&P 500 climbed 0.8%, though trading was still shaky, and it briefly gave back all of...
Judge rules Menendez brothers’ bid for freedom through resentencing can continue
LOS ANGELES — Erik and Lyle Menendez’s resentencing hearings can continue despite opposition from the Los Angeles County district attorney, a judge ruled Friday. They were sentenced to life in prison without the possibility of parole at ages 18 and 21 after being convicted of murdering their parents, Jose and...
U.S. stocks climb but U.S. dollar sinks as Wall Street closes chaotic, historic week
NEW YORK — U.S. stocks are climbing Friday in another manic day on Wall Street, while the falling value of the U.S. dollar and other swings in financial markets suggest fear is still high about escalations in President Donald Trump’s trade war with China. The S&P 500 was 1.5% higher...
Inflation fell last month as gas prices dropped sharply, a sign prices cooled before tariffsVideo
WASHINGTON — U.S. inflation declined last month as the cost of gas, airline fares, and hotel rooms fell, a sign that price growth was cooling even as President Donald Trump ramped up his tariff threats. Consumer prices rose just 2.4% in March from a year earlier, the Labor Department said...
Stocks dive as euphoria on Wall Street reverts to fear about U.S.-China trade war
NEW YORK — Stocks dove Thursday and surrendered a chunk of their historic gains from the day before as President Donald Trump’s trade war continues to threaten the economy. The S&P 500 tumbled 3.5%, slicing into Wednesday’s surge of 9.5% following Trump’s decision to pause many of his tariffs worldwide....
Egg prices increase to record high despite Trump’s predictions and bird flu outbreak slowing
U.S. egg prices increased again last month to reach a new record-high of $6.23 per dozen despite President Donald Trump’s predictions, a drop in wholesale prices and no egg farms having bird flu outbreaks. The increase reported Thursday in the Consumer Price Index means consumers and businesses that rely on...
