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Wire stories category, Page 75

Pope Francis, first Latin American pontiff, dies at 88
Stock indexes end mixed as damage to the economy piles up 
U.S. stock indexes closed mostly lower Thursday following more evidence that the pandemic is tightening its grip on the economy while Congress remains in a stalemate over how to do something about it. The S&P 500 slipped 0.1% after flipping between gains and losses in the early going. The index...
U.S. jobless claims jump to 853,000 amid resurgence of virus
WASHINGTON — The number of people applying for unemployment aid jumped last week to 853,000, the most since September, evidence that companies are cutting more jobs as new virus cases spiral higher. The Labor Department said Thursday that the number of applications increased from 716,000 the previous week. Before the...
GM’s Cruise to deploy fully driverless cars in San Francisco
SAN RAMON, Calif. — General Motors’ self-driving car company is sending vehicles without anybody behind the wheel in San Francisco as it navigates its way toward launching a robotic taxi service that would compete against Uber and Lyft in the hometown of the leading ride-hailing services. The move announced Wednesday...
Like everything else 2020, taxes will be like no other year
It’s the time of year to start thinking about taxes — but the upcoming filing season is going to be a bit trickier for many Americans due to rampant unemployment, working from home and general upheaval due to COVID-19. Here are a few pandemic specific conditions — good and bad...
U.S. stocks slip on Wall Street; S&P 500 backs off record
NEW YORK — U.S. stocks are are slipping Wednesday and pulling back from their recent record highs as virus cases surge and coronavirus vaccines move closer to distribution. A vaccine from Pfizer and German partner BioNTech, which is already in use in the U.K., is on track for a positive...
Steady gains for stocks deliver more records on Wall Street 
Technology and health care companies helped drive stocks to more gains Tuesday, leading to more milestones on Wall Street. The S&P 500 index rose 0.3%, eclipsing the all-time high it set on Friday. The Nasdaq composite and Russell 2000 index of small company stocks also set record highs. The likelihood...
A bleak outlook for millions facing cutoff of jobless aid
INDIANAPOLIS — Tina Morton recently faced a choice: Pay bills or buy a birthday gift for a child? Derrisa Green is falling further behind on rent. Sylvia Soliz has had her electricity cut off. Unemployment has forced aching decisions on millions of Americans and their families in the face of...
Stock indexes shake off a weak start and end mostly higher 
Stocks shook off a sluggish start to finish with modest gains Wednesday, nudging the S&P 500 index to an all-time high for the second straight day. The benchmark index rose 0.2% after spending much of the day drifting between small gains and losses. About 54% of the stocks in the...
Fed reports slowing economic activity because of coronavirus surge
WASHINGTON — A Federal Reserve survey of business conditions around the country found that economic activity in several regions slowed in November as coronavirus cases surged. The Fed report released Wednesday said that overall, the Fed’s 12 regional banks characterized the economic expansion as “modest or moderate.” But it noted...
Salesforce buying work-chat service Slack for $27.7 billion 
SAN RAMON, Calif. — Business software pioneer Salesforce.com is buying work-chatting service Slack for $27.7 billion in a deal aimed at giving the two companies a better shot at competing against longtime industry powerhouse Microsoft. The acquisition announced Tuesday is by far the largest in the 21-year history of Salesforce....
Treasury Secretary Steve Mnuchin defends shutdown of Fed emergency loan programs 
WASHINGTON — Treasury Secretary Steven Mnuchin is defending his decision to close down a number of emergency Federal Reserve loan programs at a time when coronavirus cases are surging. Democrats were unconvinced, however, saying that Mnuchin’s actions are politically motivated and intended to remove tools that the Biden administration could...
Sephora to open hundreds of beauty shops inside Kohl’s stores
Sephora will open hundreds of beauty shops inside Kohl’s department stores starting next fall, the retailer said Tuesday, just weeks after Ulta Beauty and Target announced a similar partnership. The 2,500-square-foot Sephora shops will replace Kohl’s current beauty department at the front of the store and carry makeup, skin care,...
Strong start to December as S&P 500 index sets another high
Stocks scored more record highs on Wall Street on Tuesday, a day after the S&P 500 closed out November with its biggest monthly gain since April. The benchmark index climbed 1.1% while the tech-heavy Nasdaq added 1.3%. Both beat the all-time highs they set on Friday. Stocks have been ramping...
GAO says weekly unemployment benefits report flawed
WASHINGTON — A government watchdog has found that the Labor Department’s widely watched weekly unemployment benefits data are providing an inaccurate reading on the number of newly laid off workers because of flaws in the government’s data collection. The Government Accountability Office said in a report Monday that the Labor...
Stocks slip, but S&P 500 still logs best month since April
NEW YORK — Stocks pulled back slightly from their record levels Monday as Wall Street put a quiet coda on one of its most rocking months in decades. The S&P 500 fell 0.5%, but the benchmark index still clocked a surge of 10.8% for the month, its biggest monthly gain...
Tony Hsieh, retired Zappos CEO, dies at 46
LAS VEGAS — Tony Hsieh, the retired CEO of Las Vegas-based online shoe retailer Zappos.com who spent years working to transform the city’s downtown area, has died. He was 46. Hsieh was with family when he died Friday, according to a statement from DTP Companies, which he founded. Downtown Partnership...
Hyundai, Kia fined for delaying U.S. engine failure recalls
Hyundai and Kia must pay $137 million in fines and safety improvements because they moved too slowly to recall over 1 million vehicles with engines that can fail. The National Highway Traffic Safety Administration announced the penalties on Friday. They resolve a three-year government probe into the companies’ behavior involving...
Stocks rise on Wall Street; S&P 500 closes at record high
NEW YORK — The S&P 500 is closing a shortened session at a record high Friday as investors continue to look forward to the distribution of a covid-19 vaccine and relief for the economy. The benchmark index rose 0.2%, led by gains in technology companies, and closed at an all-time...
4,000 more Disney theme park division employees are losing their jobs 
ORLANDO, Fla. — On the day before Thanksgiving, the Walt Disney Co. revealed 4,000 more layoffs are coming in its theme parks division, bringing the total number of announced layoffs to 32,000 across the company. At least 18,000 of the total jobs lost belong to cast members at Walt Disney...
Delta won’t furlough pilots; job cuts possible at Southwest
DALLAS — Delta Air Lines on Wednesday dropped a threat to furlough more than 1,700 pilots after they ratified a cost-cutting agreement that the airline said was needed to help it cope with a downturn caused by the pandemic. The airline had planned to furlough about 13% of its 12,900...
Stocks move mostly lower even as Nasdaq edges toward record
Stocks are mostly lower on Wall Street in afternoon trading Wednesday, giving back some of their gains from a record-setting climb a day earlier. The S&P 500 was down 0.1% a day after setting an all-time high. The Dow Jones Industrial Average slipped below 30,000, a day after crossing that...
Lights, camera, sell: Retailers want you to watch and shop
NEW YORK — When Jenna Powell gets in front of a camera, she can sell $10,000 worth of sparkly dresses and tie-dye hoodies in 40 minutes. Powell, whose three Jennaration shops in Alabama were closed at the start of the pandemic, has put all her focus on selling through live...
Unchanged from early estimate, U.S. economy grew 33.1% in Q3
WASHINGTON — The second of three estimates on U.S. growth for the July-September quarter was unchanged at a record pace of 33.1%. But a resurgence in the coronavirus is expected to slow growth sharply in the current quarter with some economists even raising the specter of a double-dip recession. While...
Employers start sending workers shopping for health coverage
Instead of offering one or more options, some companies are turning health insurance shopping over to employees. A federal rule change last year stoked this new approach. It allows employers to reimburse workers for coverage they bought without paying a tax penalty. The concept sends employees to individual insurance markets...
GM to recall 7M vehicles globally to replace Takata air bags
General Motors will recall about 7 million big pickup trucks and SUVs worldwide to replace potentially dangerous Takata air bag inflators. The move came Monday after the U.S. government told the automaker it had to recall 6 million of the vehicles in the U.S. The recall will cost the Detroit...


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