Wire stories category, Page 99
United and American push back expected return of Boeing Max
CHICAGO — United Airlines and American Airlines said Friday they are removing the grounded Boeing 737 Max from their schedules longer than previously planned, which means thousands more flights will be canceled during the peak summer travel season. The reduction in flights could mean slightly higher fares. United said it...
Trump Fed nominee Judy Shelton faces skepticism at Senate hearingVideo
WASHINGTON — One of President Donald Trump’s nominees for the Federal Reserve came under sharp questioning Thursday from senators over her unorthodox economic views, including from two Republicans whose doubts about her nomination could imperil it. The nominee, Judy Shelton, sought to make her unconventional views an asset by promising...
401(k)s hit records as workers sock away more, stocks jump
NEW YORK — How’s your 401(k) doing? President Trump likes to ask that question around the country, sometimes throwing out big gains like 90% or 95%. The average 401(k) did indeed hit a record last year, although its growth was considerably less than that. The average 401(k) balance rose 17%...
U.S. brings new charges against Chinese tech giant Huawei
WASHINGTON — The Justice Department has added new criminal charges against Chinese tech giant Huawei and two of its U.S. subsidiaries, accusing the company in a plot to steal trade secrets from competitors in America, federal prosecutors announced Thursday. The case comes as the Trump administration is raising national security...
Solid earnings send stock indexes higher on Wall Street
Stocks closed broadly higher on Wall Street on Wednesday, driving the S&P 500 and Nasdaq indexes to more record highs. Technology stocks powered much of the rally as investors focused on the latest batch of mostly solid company earnings reports. The latest gains came as worries about the economic impact...
More U.S. firms boosting faith-based support for employees
NEW YORK — It has become standard practice for U.S. corporations to assure employees of support regardless of their race, gender or sexual orientation. There’s now an intensifying push to ensure that companies are similarly supportive and inclusive when it comes to employees’ religious beliefs. One barometer: More than 20%...
Powell: Economy looks resilient despite risk of China virus
WASHINGTON — Federal Reserve Chairman Jerome Powell said Tuesday that the U.S. economy appears durable, with steady growth and unemployment near a half-century low, but faces risks from the broadening viral outbreak that began in China. Powell also said that the Fed is content with where interest rates are, suggesting...
What college grads should know about the job search
College students about to graduate this spring already have a lot going for them. Armed with degrees, they will enter the workforce at a time of historically low unemployment when companies are desperately vying for talent. Still, career experts say there are steps that recent graduates should take to ensure...
Trump budget targets loan program that could help Lordstown
DETROIT — The Trump administration’s budget proposal scraps a loan program that could help an upstart electric vehicle company’s plans to reuse the now-closed General Motors factory in Lordstown, Ohio. In a summary of the budget for the coming fiscal year, the administration said Monday it wants to eliminate the...
Online mattress pioneer Casper soars in debut tradingVideo
NEW YORK — Shares of online mattress pioneer Casper Sleep Inc. popped in their debut trading Thursday on the New York Stock Exchange. But the New York-based company still faces challenges ahead to prove to investors it can profitably sell mattresses as it becomes a bigger name in the so-called...
Asia stocks surge after Trump acquitted, China virus aid
Asian stock markets surged Thursday after President Donald Trump was acquitted in an impeachment trial and China promised tax cuts and other help to businesses reeling from a virus outbreak. Tokyo’s market benchmark rose more than 2% and indexes in Shanghai, Seoul and Hong Kong also advanced. Oil prices gained....
Disney Plus streamer hits nearly 29 million subscribers in 3 months
NEW YORK — Disney said its Disney Plus streaming service reached nearly 29 million paid subscribers in less than three months, an impressive start for what the company has positioned as its future as more people drop cable subscriptions. But as expected, starting up a new service comes with huge...
Macy’s to close 125 stores, shed 2,000 corporate jobs
NEW YORK — Macy’s said Tuesday it is closing 125 of its least productive stores and cutting 2,000 corporate jobs as the struggling department store tries to reinvent itself in the age of online shopping. The store closures represent about one fifth of Macy’s current total. They include about 30...
Sales were up during holidays, but 1K more stores about to go under
The 10,800 stores closed by retailers last year wasn’t enough: just one month into 2020, they have announced plans to close 1,000 more. “It’s sad, there are a lot of things closing,” said Patti Maher, 57, of Orland Park, Ill., browsing liquidation sales at Papyrus in Chicago. The greeting card...
Stocks sink on fears virus outbreak will dent the economy
Stocks fell sharply on Wall Street Friday as fears spread through the markets that a virus outbreak emanating from China will dent global growth. The Dow Jones Industrial Average skidded more than 600 points and the S&P 500 index erased its gains for January. Technology companies, which do a lot...
U.S. workers’ compensation growth slowed a bit in 2019
WASHINGTON — Americans’ pay and benefits rose at a solid pace last year, but at a slower rate than in 2018, the Labor Department said Friday. Total salaries and benefits such as health insurance rose 2.7% in 2019, according to the government’s employment cost index, down from 2.9% in the...
Amazon is big … really, really big; workforce hits 500K
NEW YORK — Need more proof that Amazon is big? It came this week. Amazon’s U.S. workforce topped 500,000 for the first time, up 43% from the year before and more than triple what it was five years ago, the company said Friday. It gained 150,000 workers last year, more...
U.S. workers’ compensation growth slowed a bit in 2019
WASHINGTON — Americans’ pay and benefits rose at a solid pace last year, but at a slower rate than in 2018, the Labor Department said Friday. Total salaries and benefits such as health insurance rose 2.7% in 2019, according to the government’s employment cost index, down from 2.9% in the...
Amazon is big … really, really big; workforce hits 500K
NEW YORK — Need more proof that Amazon is big? It came this week. Amazon’s U.S. workforce topped 500,000 for the first time, up 43% from the year before and more than triple what it was five years ago, the company said Friday. It gained 150,000 workers last year, more...
Delta, American and United suspend flights between U.S., China
NEW YORK — Delta Air Lines and American Airlines said Friday they will suspend all flights between the U.S. and China, making them the first U.S.-based airlines to do so and joining several international carriers that have stopped flying to China as the coronavirus outbreak continues to spread. United Airlines...
Stocks sink on fears virus outbreak will dent the economy
Stocks fell sharply on Wall Street Friday as fears spread through the markets that a virus outbreak emanating from China will dent global growth. The Dow Jones Industrial Average skidded more than 600 points and the S&P 500 index erased its gains for January. Technology companies, which do a lot...
Commerce secretary: China virus could bring jobs back to the United StatesVideo
WASHINGTON — Commerce Secretary Wilbur Ross suggested Thursday that the viral outbreak in China might offer an unexpected benefit for the U.S. economy: It could encourage American manufacturers in China to return to the United States. “I think it will help to accelerate the return of jobs to North America....
Dating apps face U.S. inquiry over underage use, sex offenders
SAN FRANCISCO — A House subcommittee is investigating popular dating services such as Tinder and Bumble for allegedly allowing minors and sex offenders to use their services. Bumble, Grindr, The Meet Group and the Match Group, which owns such popular services as Tinder, Match.com and OkCupid, are the current targets...
Chick-Fil-A’s war with Popeyes drains supply of little chickens
CHICAGO — Fast-food titans, embroiled in a chicken-sandwich battle, are trying to beat each other with small weapons. Little chickens, whose quarter-pound breasts fit perfectly inside a bun, are proving essential to the war effort. In the process, they’re getting harder to come by. A shortage of the smaller birds...
NASA chooses company for first habitable commercial space on space station
The International Space Station may soon become a duplex. NASA announced Houston-based Axiom Space has won the contract to begin to build what could become a commercial space station that connects to to the ISS. The first step is letting Axiom Space hook up to the ISS with an initial...
