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Wire stories category, Page 77

Pope Francis, first Latin American pontiff, dies at 88
Stocks rally worldwide with hopes for a return to ‘normal’
NEW YORK — Brimming hopes that people will again return to office buildings, shopping centers and normal life sent markets rallying worldwide on Monday, following encouraging data about a potential coronavirus vaccine. The S&P 500 rose 41.06, or 1.2%, to 3,550.50 after Pfizer said an early peek at its vaccine...
U.S. consumer borrowing up $16.2 billion in September
WASHINGTON — U.S. consumers increased their borrowing in September, helped by the first gain in the category that covers credit cards in seven months. The Federal Reserve reported that total borrowing rose by $16.2 billion in September, rebounding after a drop of $6.9 billion in August. The increase included a...
Stocks take a breather, while yields rally on jobs report
NEW YORK — Wall Street’s best week since April is taking its first breather, and stocks are mixed on Friday following their big rally on enthusiasm about the upside of potential gridlock in Washington. Optimism was still pumping through other areas of the market, though, and Treasury yields climbed after...
How 2 blind brothers became Two Blind Brothers for a cause
Would you buy something you can’t see? That’s the question posed by two New York brothers who’ve lost much of their vision to a rare degenerative eye disorder and have dedicated their lives — and livelihoods — to raising money for a cure. Bradford Manning, 35, and his 30-year-old brother,...
Wall Street rallies again as stocks ride post-election wave
Stocks are still riding Wall Street’s post-election wave Thursday, as markets bet on the continuation of several business-friendly policies, and the S&P 500 is rallying 2.3% toward its biggest weekly jump since April. Markets are banking on Tuesday’s election leading to split control of Congress, which could mean low tax...
Federal Reserve confronts shaky economy that likely needs more help
WASHINGTON — Federal Reserve officials are meeting this week with the economy facing growing threats from a resurgence of the coronavirus and from Congress’ failure to provide any further aid for struggling individuals and businesses. Yet the Fed will likely end its latest policy meeting Thursday by deciding to wait...
Stocks shake off election night wobbles to rally; tech leads
Technology and health care companies drove stocks sharply higher Wednesday as Wall Street embraced the upside of more gridlock in Washington. The S&P 500 was up 2.4% and on pace for its best day in more than five months, as of 3:26 p.m. Eastern time. The Dow Jones Industrial Average...
Debut of Chinese e-finance giant derailed by fear of risks
BEIJING — The world’s biggest online finance company was racing toward a stock market debut when it was derailed by Beijing’s anxiety about risks in the fledgling industry, jarring global investors and deepening uncertainty about China’s financial markets. Regulators suspended Ant Group’s record-setting $34.5 billion stock offering two days before...
Cruise industry throws in the towel on 2020, looks to 2021
The cruise industry has jettisoned hopes of restarting operations this year. Days after both Carnival and Norwegian extended a halt on cruises through the end of the year, the group that represents cruise lines with 95% of global ocean-going capacity said Tuesday that its members have agreed to extend the...
AMC Theatres lost $900 million in 3rd quarter even as cinemas reopened
AMC Entertainment, owner of the world’s largest movie theater circuit, lost more than $900 million in the third quarter, even with the vast majority of its locations open for business. Since the covid-19 pandemic shuttered the film business in March, AMC has reopened 539 locations, or 90% of its 600...
Stocks rally again worldwide as Election Day finally arrives
Stocks are rallying Tuesday as Election Day finally arrives following a punishing campaign that created enough uncertainty to help send markets spinning. The S&P 500 was 2.2% higher in midday trading and on pace for its best day in nearly five months. The Dow Jones Industrial Average was up 647...
Another restaurant chain, Friendly’s, hits wall in pandemic
WILBRAHAM, Mass. — Friendly’s Restaurants, the 85-year-old East Coast dining chain known for its Fribble milkshakes and ice cream sundaes, is filing for bankruptcy protection. It joins a growing list of well-established restaurant chains that are failing due to an unchecked pandemic in the United States. George Michel, CEO of...
Wall Street rallies ahead of a potentially turbulent week 
NEW YORK — Stocks notched broad gains on Wall Street Monday as investors looked ahead to Election Day and the potential for a turbulent stretch for markets. The S&P 500 climbed 1.2%, recouping some of its losses from a sharp sell-off last week, as more companies reported stronger profits for...
U.S. construction spending up again, rises 0.3% in September
U.S. construction spending rose 0.3% in September, the fourth straight monthly gain after a coronavirus-caused spring swoon. The Commerce Department reported Monday that the September gain followed followed a revised gain of 1.3% in August. Spending on residential construction was strong yet again, with single-family home projects jumping 5.7%. Demand...
Tech losses drive Wall Street down again, ending grim week
Street closed out another punishing week Friday with the S&P 500 posting its first back-to-back monthly loss since the pandemic first gripped the economy in March. The S&P 500 dropped 1.2% and ended the week with a 5.6% loss, its worst in seven months. Sharp drops in big technology stocks...
Coronavirus surge threatens to reverse global economic rebounds
WASHINGTON — The resurgence of coronavirus cases engulfing the United States and Europe is imperiling economic recoveries on both sides of the Atlantic as millions of individuals and businesses face the prospect of having to hunker down once again. Growing fear of an economic reversal coincided with a report Thursday...
Walmart removes guns, ammunition on display at U.S. stores
NEW YORK — Walmart says it has removed ammunition and firearms from displays at its U.S. stores, citing “civil unrest” in some areas. The nation’s largest retailer, based in Bentonville, Ark., sells firearms in about half of its 4,700 stores. “We have seen some isolated civil unrest and as we...
Netflix raises prices on U.S. subscriptions as content spending grows
Netflix on Thursday said it is raising the price of its U.S. standard and premium subscription plans, as the streamer continues to invest in content to differentiate itself from rivals. The cost of its standard plan that allows for streaming on two screens will go up $1 to $13.99 a...
Exxon, Chevron to cut U.S. jobs as oil industry struggles
NEW YORK — Exxon Mobil is slashing 1,900 jobs from its U.S. workforce, and Chevron plans to cut a quarter of the employees at its recently-acquired Noble Energy as the pandemic saps demand for fuel. Exxon said Thursday the reductions will be both voluntary and involuntary and will largely come...
Wall Street ends higher after shaking off a wobbly start 
Stocks shook off an early slide and closed broadly higher Thursday as the market steadied after its worst drop in more than four months. The S&P 500 rose 1.2%, bouncing back from a drop of 0.3% in the early going. Traders welcomed encouraging data on the pace of layoffs and...
FanDuel to open sports book in Bally’s Atlantic City
ATLANTIC CITY, N.J. — The online sports betting company FanDuel will open an in-person sports book at Bally’s casino in Atlantic City once the casino’s sale to a Rhode Island company is finalized. When that happens, all nine Atlantic City casinos will have on-location sports books as New Jersey vies...
S&P 500 sinks 3.5% as surging coronavirus cases threaten shutdowns 
The Dow Jones Industrial Average sank 943 points Wednesday as surging coronavirus cases forced more shutdown measures in Europe and raised fears of more restrictions in the United States. The S&P 500 slid 3.5%, its third straight loss and its biggest drop since June. The benchmark index is already down...
Stocks end another wobbly day lower as coronavirus cases rise 
Wall Street’s losses mounted for the second straight day Tuesday as momentum slows on worries about rising virus counts and Washington’s inability to deliver more aid to the economy. The S&P 500 fell 0.3% after spending much of the day swinging between small gains and losses. Most of the stocks...
Video app TikTok leans into e-commerce with Shopify deal
The popular short-form video app TikTok, still under U.S. government scrutiny for its Chinese ownership, is moving closer to becoming a marketplace for buying stuff. Canadian e-commerce platform Shopify said Tuesday it’s made a deal with TikTok enabling merchants to create “shoppable” video ads that drive customers to online stores....
Consumer confidence dips to 100.9 as virus spreads in US
U.S. consumer confidence dipped slightly in October as a new wave of coronavirus cases appeared across the country. The Conference Board reported Tuesday that its consumer confidence index fell to a reading of 100.9, from 101.8 in September, but still remains well below pre-pandemic levels. This month’s moderate decline follows...


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