Wire stories category, Page 91
Stocks sink as virus cases jump, forcing states to backtrack
Stocks fell sharply on Wall Street Friday as the number of confirmed new coronavirus cases in the U.S. hit an all-time high, stoking worries among investors that the reopening of businesses they are banking on to revive the economy will be derailed. The S&P 500 slid 2%, giving up all...
Families of 3 deceased workers sue Tyson over Iowa outbreak
IOWA CITY, Iowa — The families of three workers who died after contracting the coronavirus in an Iowa meat plant outbreak sued Tyson Foods and its top executives Thursday, saying the company knowingly put employees at risk and lied to keep them on the job. The lawsuit alleges that Tyson...
California to vote on 1st-in-US electric truck sales rule
SACRAMENTO, Calif. — California regulators approved new rules on Thursday that would force automakers to sell more electric work trucks and delivery vans, a first-of-its-kind rule aimed at helping the nation’s most populous state clean up its worst-in-the-nation air quality. The rules require a certain percentage of work truck sales...
Banks lead gains for stocks on Wall Street in jumpy trading
Financial companies led stocks broadly higher on Wall Street Thursday as traders welcomed news that the Federal Reserve and other regulators are removing some limits on the ability of banks to make investments. The S&P 500 climbed 1.1% following a jumpy day of trading. At one point, the index was...
Chuck E Cheese files for bankruptcy as pandemic takes a bite
NEW YORK — Chuck E Cheese, the restaurant chain that became a Mecca for children and a crucible for many of their parents, is filing for bankruptcy protection. CEC Entertainment Inc. has reopened 266 of its 612 company-operated Chuck E Cheese and Peter Piper Pizza restaurants, but did not elaborate...
Macy’s cuts corporate headcount by 3,900 as virus takes toll
NEW YORK — Macy’s said Thursday it’s laying off 3,900 people corporate staffers, roughly 3% of its overall workforce, as the pandemic takes a financial toll on the iconic department store chain’s sales and profits. The company said in a release that the headcount reduction will save the company $630...
U.S. GDP fell at 5% rate in 1st quarter; worse is likely on the way
WASHINGTON — The U.S. economy shrank at a 5.0% rate in the first quarter with a much worse decline expected in the current three-month economic period, which will show what happened when the pandemic began spread across the U.S. The Commerce Department reported Thursday that the decline in the gross...
Bayer paying up to $10.9B to settle Monsanto weedkiller case
BERLIN — Bayer will pay up to $10.9 billion to settle litigation over the subsidiary Monsanto’s weedkiller Roundup, which has faced thousands of lawsuits over claims it causes cancer, the German-based company said Wednesday. Bayer said it was also paying up $1.22 billion to settle two additional areas of intense...
Stocks slide on Wall Street as new coronavirus cases surge
Stocks fell sharply on Wall Street Wednesday as new coronavirus cases in the U.S. climbed to the highest level in two months, dimming investors’ hopes for a relatively quick economic turnaround. The S&P 500 was down 2.6% in late-afternoon trading, giving back all of its gains for the month. The...
More gains for tech as U.S. stocks head for a 3rd monthly gain
Stocks closed higher on Wall Street on Tuesday, extending the market’s recent winning streak after another strong showing by technology companies. The S&P 500 rose 0.4% and is on pace for its third straight monthly gain. The Nasdaq composite, which is heavily weighted with technology stocks, climbed to an all-time...
AMC Theaters reverses course on masks after backlash
LOS ANGELES — The nation’s largest movie theater chain changed its position on mask-wearing less than a day after the company became a target on social media for saying it would defer to local governments on the issue. AMC Theaters CEO Adam Aron said Friday that its theaters will require...
Judge to OK $58B plan to end PG&E bankruptcy after wildfires
SAN FRANCISCO, Calif. — A federal judge on Friday said he was approving a $58 billion plan by the nation’s largest utility to end a contentious bankruptcy saga that began after Pacific Gas & Electric’s outdated equipment ignited wildfires in California that killed more than 100 people, wiped out entire...
Apple re-closes some stores, raising economic concerns
Apple’s Friday decision to close stores in four states with surging coronavirus cases highlights a question that other businesses may soon face: Stay open or prepare for more shutdowns? Apple, like many other major U.S. retailers, shut down all of its U.S. locations in March. On Friday, it said it...
Wall Street ends a sluggish day lower, still up for the week
NEW YORK — Wall Street careened through all the forces that have pushed and pulled it through the week, at first rising on Friday amid hope for the economy and then falling on worries about worsening coronavirus levels in some states, all before ending with modest losses. The S&P 500...
American Airlines bans man who refused to wear face mask
DALLAS — American Airlines has banned a man who was kicked off a plane for refusing to wear a face covering, among the first such incidents since airlines promised this week to step up enforcement of their mask rules. A spokesman for American said Thursday that the airline decided to...
Mark Cuban to host SiriusXM Radio business show
NEW YORK — Mark Cuban is ready to talk business — or whatever else his radio listeners want to discuss. The outspoken Dallas Mavericks owner will host specials on SiriusXM’s Business Radio on the next two Thursdays, speaking about business issues and answering questions from callers. “Ask Me Anything with...
Former Bumble Bee CEO gets jail in price fixing conspiracy
SAN FRANCISCO — A former CEO of Bumble Bee Foods has been sentenced to more than three years in jail for his role in a canned tuna price-fixing conspiracy involving three major companies, the U.S. Justice Department said. Christopher Lischewski was also ordered Tuesday to pay a $100,000 fine in...
J.C. Penney starts liquidation sales at closing stores, including Pittsburgh Mills, Monroeville Mall
Liquidation sales at 136 J.C. Penney stores slated to close, including several in Western Pennsylvania, began Wednesday. Stores at the Pittsburgh Mills in Frazer, Monroeville Mall, the Clearview Mall near Butler and the Beaver Valley Mall in Center Township are among the stores to close and are holding going-out-of-business sales....
Coal union seeks order protecting miners from coronavirus
CHARLESTON, W.Va. — A union representing coal miners asked a court Tuesday to force the federal government to take unspecified measures to protect them from the coronavirus. The petition asked the U.S. Circuit Court of Appeals for the District of Columbia for an expedited order against the U.S. Mine Safety...
Stocks erase an early loss after Fed widens bond purchasesVideo
NEW YORK — Wall Street rallied back from a sharp, early slump on Monday to notch modest gains after the Federal Reserve unveiled its latest push to prop up the economy. The S&P 500 climbed 0.8% in the latest day of big swings for global markets, as a remarkable, weekslong...
Fed’s Jerome Powell to bring sober message this week to Capitol Hill
WASHINGTON — Federal Reserve Chairman Jerome Powell will deliver a cautionary message about the economy and covid-19 when he appears twice this week on Capitol Hill. His remarks to lawmakers are widely expected to echo the mostly downbeat assessment he gave Wednesday after policymakers held interest rates near zero at...
George Floyd’s death hastens shift in police pop culture portrayals
NEW YORK — Gary Phillips, a prize-winning crime novelist from Los Angeles, grew up on TV shows that showed a world nothing like the one he lived in. “I watched them all, ‘Dragnet,’ ‘Adam 12,’ ‘The Wild, Wild West,’ ‘Mannix,’ ‘Cannon,’ ‘Peter Gunn’ reruns and on and on. Now these...
Stocks bounce higher on Wall Street a day after big rout
Stocks moved higher on Wall Street in afternoon trading Friday, recouping some of their losses a day after the market had its biggest rout since mid-March. The S&P 500 was up 0.7% a day after dropping 5.9%. The benchmark index is still headed for a weekly loss following three weeks...
Dow sinks 1,800 as virus cases rise, deflating optimismVideo
The Dow Jones industrials lost more than 1,800 points, nearly 7%, as increases in coronavirus cases deflated optimism that the economy could recover quickly from its worst crisis in decades. The pullback Thursday comes after the market has been screeching higher for more than two months at a pace that...
Just Eat swallows Grubhub creating restaurant delivery giant
Two pioneers in restaurant delivery — Just Eat Takeaway.com and Grubhub — are combining in a $7.3 billion deal that will create one of the world’s largest delivery companies. Amsterdam-based Just Eat Takeaway.com said late Wednesday that it was acquiring Chicago-based Grubhub, snatching it away from ride-hailing giant Uber, which...
