Wire stories category, Page 13
Small businesses say cautious shoppers are seeking ‘cozy’ and ‘festive’ this holiday season
After the busy Black Friday holiday weekend, Kristen Tarnol, owner of Emerald City Gifts in Studio City, California, is already asking her supplier to send more more fuzzy alpaca scarves and warm slippers that were best sellers over the weekend. “Even though it’s Los Angeles … I think people are...
Boeing is building new 737 Max planes for the first time since workers went on strike
Boeing is resuming production of its bestselling plane, the 737 Max, for the first time since 33,000 workers began a seven-week strike that ended in early November. The company said Tuesday that plane-building resumed at its plant in Renton, Washington, after going through a process of training workers and identifying...
Rupert Murdoch loses his fight to change family trust
Rupert Murdoch lost his bid to change his family trust and hand sole control of his media empire to his eldest son. Edmund Gorman Jr., the Reno, Nevada, probate commissioner hearing the case, rendered a verdict on Saturday, The New York Times reported, citing a sealed document saying the elder...
Anthem Blue Cross Blue Shield reverses decision to put time limit on anesthesia
One of the country’s largest health insurers reversed a change in policy Thursday after widespread outcry, saying it would not tie payments in some states to the length of time a patient went under anesthesia. Anthem Blue Cross Blue Shield said in a statement that its decision to backpedal resulted...
Nearly 30% of U.S. drugstores closed in 1 decade, study shows
Nearly three out of 10 U.S. drugstores that were open during the previous decade had closed by 2021, new research shows. Black and Latino neighborhoods were most vulnerable to the retail pharmacy closures, which can chip away at already-limited care options in those communities, researchers said in a study published...
Small business owners brace for Trump’s proposed tariffs
Small businesses are bracing for stiff tariffs that President-elect Donald Trump has proposed as one of his first actions when he takes office. Trump has proposed importers pay a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China,...
Delaware judge reaffirms ruling that invalidated massive Tesla pay package for Elon Musk
DOVER, Del. — A Delaware judge has reaffirmed her ruling that Tesla must revoke Elon Musk’s multibillion-dollar pay package. Chancellor Kathaleen St. Jude McCormick on Monday denied a request by attorneys for Musk and Tesla’s corporate directors to vacate her ruling earlier this year requiring the company to rescind the...
General Motors to sell its stake in Michigan battery factory to LG Energy Solution
DETROIT — General Motors has reached an agreement to sell its stake in a nearly completed electric vehicle battery plant in Lansing, Michigan. The company said Monday that it has a nonbinding agreement for the sale to joint venture partner LG Energy Solution of South Korea. The companies expect to...
Stellantis CEO Carlos Tavares resigns as carmaker continues to struggle with slumping sales
NEW YORK — Stellantis CEO Carlos Tavares is stepping down after nearly four years in the top spot of the automaker, which owns car brands such as Jeep and Ram, amid an ongoing struggle with slumping sales. The world’s fourth-largest carmaker announced that its board accepted Tavares’ resignation on Sunday....
Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine US dollar
WEST PALM BEACH, Fla. — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar. His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran...
Avocados, tequila, other iconic Mexican products jeopardized by Trump’s tariff threats
URUAPAN, Mexico — Mexicans are worried that threats by Donald Trump to impose 25% tariffs could affect a wide range of iconic Mexican products and threaten entire regional economies. In western Mexico, no crop supplies an income for so many small growers as avocados. But avocado growers, pickers and packers...
Canadian cannabis company buying up American brewers
A Canadian cannabis company is tapping into a flailing American industry: craft beer. The cannabis company has purchased multiple United States craft breweries, thus becoming the fifth-largest craft brewer in the U.S. as a result. According to The Wall Street Journal, Tilray Brands has purchased a total of 18 craft...
Walmart becomes latest — and biggest — company to roll back its DEI policies
NEW YORK — Walmart, the world’s largest retailer, is rolling back its diversity, equity and inclusion policies, joining a growing list of major corporations that have done the same after coming under attack by conservative activists. The changes, confirmed by Walmart on Monday, are sweeping and include everything from not...
Workers at Charlotte airport, an American Airlines hub, go on strike during Thanksgiving travel weekVideo
CHARLOTTE, N.C. — Workers who clean airplanes, remove trash and help with wheelchairs at Charlotte’s airport, one of the nation’s busiest, went on strike Monday during a busy week of Thanksgiving travel to demand higher wages. The Service Employees International Union announced the strike in a statement early Monday, saying...
Eggs are available — but pricier — as the holiday baking season begins
Egg prices are rising once more as a lingering outbreak of bird flu coincides with the high demand of the holiday baking season. But prices are still far from the recent peak they reached almost two years ago. And the American Egg Board, a trade group, says egg shortages at...
Macy’s says employee hid up to $154 million in expenses, delaying Q3 earnings
Macy’s reported stronger-than-expected sales for the third quarter and said it’s delaying the release of its full quarterly results after it discovered an employee intentionally hid up to $154 million of expenses over several years. The department store chain, which also operates Bloomingdale’s and Bluemercury cosmetics chain in addition to...
Tariff hikes will backfire, and China can manage such ‘external shocks,’ a senior official says
HONG KONG — Higher tariffs on Chinese exports will backfire, just increasing prices paid by consumers, while China can manage to weather the impact of such “external shocks,” a senior Commerce Ministry official said Friday in Beijing. Responding to a reporter’s question about U.S. President-elect Donald Trump’s plan to impose...
Delta to serve Shake Shack burgers in first class on some flights
Delta Air Lines will soon serve Shake Shack cheeseburgers to first-class customers on certain flights out of Boston. The first-class meal option will be offered starting Dec. 1 on routes of more than 900 miles out of Boston Logan International Airport. The airline said it “plans for expansion to other...
Philadelphia’s mass transit system averts a strike by reaching a deal with its largest workers union
Philadelphia’s mass transit system has reached a tentative contract deal with its largest workers union, averting a potential strike that could have seen thousands of employees walk off the job. The Southeastern Pennsylvania Transportation Authority and Transport Workers Union Local 234 announced the one-year agreement Wednesday. It calls for union...
Jersey Mike’s sandwich chain acquired by private equity firm Blackstone for $8 billion
NEW YORK — Jersey Mike’s, the quickly expanding sandwich chain, is being acquired by asset management giant Blackstone. In the transaction announced Tuesday, private equity funds managed by Blackstone will be used to acquire majority ownership of Jersey Mike’s. The deal is “intended to help enable Jersey Mike’s to accelerate...
Walmart’s promise of low prices proves to be a powerful draw in 3rd quarter
NEW YORK — Walmart ratcheted up sales and profits again in the third quarter with its comparatively low prices proving a powerful draw for shoppers seeking to cut spending where they could. The nation’s largest retailer raised its outlook for the year as well, underscoring its confidence in a strong...
McDonald’s investing $100 million to bring customers back after E. coli outbreak
McDonald’s is investing $100 million to bring customers back to stores after an outbreak of E. coli food poisoning tied to onions on the fast-food giant’s Quarter Pounder hamburgers. The investments include $65 million that will go directly to the hardest-hit franchises, the company said. The U.S. Centers for Disease...
Kraft Heinz stops serving school-designed Lunchables because of low demand
Food and beverage manufacturer Kraft Heinz said Tuesday that it no longer is serving the Lunchables meals it created for U.S. schools. The company introduced the two packaged meals — one starring pizza and the other a turkey, cheddar cheese and cracker plate — at the beginning of the 2023-2024...
Frustrated Americans await economic changes they voted for with Trump
WASHINGTON — Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president. They could get it. President-elect Donald Trump has vowed to topple many of the Biden administration’s economic policies. Trump campaigned...
Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertaintyVideo
WASHINGTON — The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week. The rate cut follows a larger half-point reduction in September, and it...
