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Wire stories category, Page 46

Pope Francis, first Latin American pontiff, dies at 88
Fed raises key rate by a half-point in bid to tame inflation 
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come. The increase in the Fed’s key rate raised it...
Intuit to pay $141M settlement over ‘free’ TurboTax ads
The company behind the TurboTax tax-filing program will pay $141 million to customers across the United States who were deceived by misleading promises of free tax-filing services, New York’s attorney general announced Wednesday. Under the terms of a settlement signed by the attorneys general of all 50 states, Mountain View,...
Airbnb allows employees to live and work from anywhere
Airbnb will allow its employees to live and work almost anywhere around the world, fully embracing a remote work policy to attract staff and ensure flexibility. The San Francisco short-term-stay company said late Thursday that under the new policy, employees can work from the office, home or during their travels...
Apple delivers strong quarter, but warns of trouble ahead
Apple on Thursday reported strong quarterly results despite supply shortages, but warned that its growth slowdown is likely to deepen. The company said it’s still struggling to get enough chips to meet demand and contending with covid-related shutdowns at factories in China that make iPhones and other products. Although initial...
Robinhood’s revenue fell more than expected at year’s start
Growth slammed into reverse at the start of this year for Robinhood Markets, whose trading app has turned millions of people into investors for the first time. The company said Thursday that it took in $299 million in revenue during the first three months of the year, down 43% from...
Amazon reports rare quarterly loss as online shopping slows
Amazon reported its first quarterly loss since 2015 on Thursday, its money-making juggernaut stalled by a slowdown in pandemic-induced online shopping and a huge write-down of its investment in an electric-vehicle startup. The Seattle-based e-commerce giant’s stock fell 9% in after-hours trading. Amazon reported a loss of $3.84 billion, or...
Google adds ways to keep personal info private in searches
Google has expanded options for keeping personal information private from online searches. The company said Friday it will let people request that more types of content such as personal contact information like phone numbers, email and physical addresses be removed from search results. The new policy also allows the removal...
A key inflation gauge jumped 6.6% in March, most since 1982
An inflation gauge closely tracked by the Federal Reserve surged 6.6% in March compared with a year ago, the highest 12-month jump in four decades and further evidence that spiking prices are pressuring household budgets and the health of the economy. Yet there were signs in Friday’s report from the...
Stocks fall on Wall Street, sinking indexes for the week
Stocks fell broadly in afternoon trading on Wall Street Friday, putting major indexes back into the red for the week after several sharp moves both up and down over the past few days. The S&P 500 fell 2.4% as of 2:01 p.m. Eastern. The Dow Jones Industrial Average fell 564...
Stocks rally on Wall Street as technology giants rebound
NEW YORK — Major stock indexes on Wall Street notched their biggest gains in more than six weeks Thursday, as technology companies clawed back some of the ground they had lost recently. The S&P 500 rose 2.5%, with roughly 85% of the stocks in the benchmark index closing higher. The...
In NYC, ads for jobs will have to say what they pay
NEW YORK — Help wanted. The job: putting one of the nation’s most far-reaching salary disclosure laws into practice. Location: New York City. Just four months ago, city lawmakers overwhelmingly voted to require many ads for jobs in the nation’s most populous city to include salary ranges, in the name...
Boeing CEO laments deal with Trump for Air Force One planes
Boeing’s CEO is lamenting the deal that his company cut with former President Donald Trump to produce new Air Force One jets. David Calhoun said “it was a public negotiation” and “we took some risks” in accepting a fixed-price contract that made Boeing responsible if it cost more than expected...
Delta to begin paying flight attendants during boarding
Delta Air Lines, which is facing another attempt to unionize its flight attendants, will begin paying cabin crews during boarding, a first for a major U.S. airline. Across the airline industry in the United States, hourly pay for flight attendants starts when all the passengers are seated and the plane’s...
Tech stocks slump again; Nasdaq has worst loss since 2020
NEW YORK — Stocks closed broadly lower Tuesday on Wall Street, weighed down by sharp declines in Big Tech stocks that also left the Nasdaq with its worst drop since September 2020. Investors are busy reviewing the latest round of corporate earnings and are facing a particularly heavy week with...
Trump says he has no plans to rejoin Twitter after Musk deal
NEW YORK — Former President Donald Trump said Monday that he has no intention of rejoining Twitter even if his account is reinstated following Elon Musk’s agreement to buy the social media giant for roughly $44 billion. Trump told Fox News that he will instead focus on his own platform,...
Will the Fed cause a recession by raising rates? Here’s what experts are saying
High inflation comes with a heavy economic price, but so can the Federal Reserve’s attempts to get it under control. The Fed has a tried-and-true method for curing inflation: raising interest rates. But it’s a blunt instrument, with no room to fine-tune specific corners of the economy. Hiking borrowing costs...
Stocks rally, erase early loss ahead of big earnings week
NEW YORK — Stocks stormed back from sharp losses in the morning to notch gains Monday, the latest round of turbulence for Wall Street. The S&P 500 climbed 24.34 points, or 0.6%, to 4,296.12 after erasing an early 1.7% loss. Stocks of internet-related companies helped lead the way, including Twitter,...
Afraid to fly with unmasked passengers? Call your airline
DALLAS — Airlines say they are offering options — including refunds in some cases — for people worried about flying now that other passengers aren’t required to wear face masks. However, the airlines aren’t providing many details. Customers could find themselves at the mercy of workers at airline customer-service centers....
Stocks slump as Wall Street heads for another losing week
Stocks are opening lower on Wall Street, capping a bumpy week as the Federal Reserve promises to be more aggressive about fighting inflation. Health care stocks were leading the way lower, led by a 14% drop in HCA after the hospital operator cut its financial forecasts. The S&P 500 fell...
U.S. drone company Zipline starts delivering medicine in Japan
Zipline, an American company that specializes in using autonomously flying drones to deliver medical supplies, has taken off in Japan. They’re flying, starting Thursday, across the tiny Goto Islands, off the western coast of Kyushu, in southwestern Japan, delivering to pharmacies and hospitals. Other parts of Japan may follow, including...
Fewest Americans collecting jobless aid since 1970
Applications for unemployment benefits inched down last week as the total number of Americans collecting aid fell to its lowest level in more than 50 years. Jobless claims fell by 2,000 to 184,000 last week, the Labor Department said Thursday. The four-week average of claims, which levels out week-to-week volatility,...
CNN’s streaming service shutting down a month after launch
CNN is shutting down its CNN+ streaming service less than a month after its launch, a spectacular flameout for a venture that had attracted stars such as Chris Wallace and Alison Roman and was seen as a way to attract a new generation of news consumers. It had started March...
Elon Musk says he has $46.5B in financing ready to buy Twitter
Elon Musk says he has lined up $46.5 billion in financing to buy Twitter, and he’s trying to negotiate an agreement with the company. Last week, Musk announced an offer to buy the social media company for $54.20 per share, or about $43 billion. At the time, he did not...
U.S. stocks edge higher; Netflix plunges on subscriber losses
Stocks edged mostly higher in afternoon trading on Wall Street Wednesday, but were held back by streaming entertainment giant Netflix, which lost lost more than a third of its value after reporting its first subscriber loss in more than a decade and predicting more grim times ahead. The S&P 500...
Rivian electric car plant blasted by foes at Georgia meeting
Opponents trying to derail a $5 billion, 7,500-job electric truck plant in Georgia dominated a state meeting this week that was meant to gather suggestions on how to design the plant to mitigate any impact on the environment. The state assumed oversight over the Rivian Automotive project after opponents overwhelmed...


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