Business category, Page 176

NEW YORK — Wall Street marked the dawn of President Joe Biden’s administration with stocks rallying to record highs as hopes build that new leadership in Washington will mean more support for the struggling U.S. economy. The S&P 500 rose 1.4%, topping its previous all-time high set earlier this month....

SILVER SPRING, Md. — General Motors is teaming up with Microsoft to accelerate its rollout of electric, self-driving cars. In the partnership announced Tuesday, the companies said Microsoft’s Azure cloud and edge computing platform would be used to “commercialize its unique autonomous vehicle solutions at scale.” Microsoft joins General Motors,...

Wall Street kicked off a holiday-shortened week with broad gains for stocks Tuesday, as the market recovered most of its losses from last week. The S&P 500 gained 0.8%, pulling to within 1% of its record high set earlier this month. About 60% of the companies in the benchmark index...

The founder of MyPillow, a vocal and in the past few weeks very visible supporter of President Donald Trump, says a backlash against the company has begun after a mob stormed the U.S. Capitol this month. Mike Lindell, the company CEO and also the face of the brand, said major...

Walmart customers will soon be able to use Western Union’s money transfer services at locations across the United States. Walmart announced today that Western Union’s services in its stores will include domestic and international money transfers, bill payments and money orders. Services will be offered at more than 4,700 Walmart...

Not every stock that gets whacked deserves it. Stocks may fall because of bad news that’s real but temporary. They may fall because a company sacrifices short-term profits for long-term benefits. They may fall because investors, moving as a herd, take a dislike to a particular industry. That’s why I...

TORONTO — Top officials in Canada want a chance to make the case for a long disputed oil pipeline to be built amid reports President-elect Joe Biden will cancel Keystone XL. Alberta Premier Jason Kenney said Monday he will seek legal damages if reports are true that Biden plans to...

NEW YORK — Stocks are pulling lower on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline. The S&P 500 was down 0.5% in afternoon trading, with stocks of companies that most need a healthier economy taking the...

NEW YORK — The nation’s largest retail trade group said Friday that holiday sales soared 8.3%, far exceeding its forecast even as the coronavirus kept shoppers away from physical stores. The National Retail Federation had expected growth in a range of 3.6% to 5.2% for the November and December period...

DETROIT — Toyota will pay $180 million to settle U.S. government allegations that it failed to report pollution control system defects in its vehicles for a decade. The company also agreed in court to investigate emissions-related defects quickly and report them to the U.S. Environmental Protection Agency in a timely...

The $600 stimulus checks approved by Congress and President Trump last month were meant to provide much-needed economic relief to Americans battered by the coronavirus pandemic. Most already have received their money, but technical glitches and administrative challenges left millions wondering when theirs would arrive. Here’s what you need to...

WASHINGTON — The number of people seeking unemployment aid soared last week to 965,000, the most since late August and evidence that the resurgent virus has caused a spike in layoffs. The latest figures for jobless claims, issued Thursday by the Labor Department, remain at levels never seen until the...

Delta Air Lines closed the books on a disastrous 2020 with a comparatively small fourth-quarter loss, and executives expect a few more rocky months before — they hope — widespread coronavirus vaccinations and testing might salvage something of the upcoming summer travel season. Delta on Thursday reported a $755 million...

NEW YORK — U.S. stocks are drifting Wednesday as Wall Street continues a pause from its big recent rally, and even Treasury yields are stalling following their rapid rise. The S&P 500 was 0.3% higher after flipping between small gains and losses in early trading. It remains close to its...

SEATTLE — Seattle-based Amazon has asked a federal judge to deny a request to reinstate the cloud-service account for conservative social media network Parler, claiming Parler shrugged off police violence content on its site before and after the insurrection at the U.S. Capitol. Amazon’s lawyers made the claim Tuesday, a...

NEW YORK — Target’s strong sales streak extended through a pandemic-shrouded holiday season after a hard push online and an increased effort to provide alternatives to customers who are trying to minimize risk. The retailer reported Wednesday that online sales surged 102% between November and December. Sales at its stores...

An Indiana company has expanded a pet food recall it voluntarily issued last month after 70 dogs have died and more than 80 were sickened. According to the U.S. Food and Drug Administration, the Sportmix pet food products were manufactured by Midwestern Pet Foods in their Chickasha, Okla., plant. As...

U.S. stocks are drifting close to their record heights Tuesday, while Treasury yields keep marching higher amid expectations that the economy will pull out of its slump after a powerful recovery sweeps the globe later this year. The S&P 500 was virtually unchanged after the first 15 minutes of trading....

DETROIT — The market for battery-powered delivery vehicles and equipment has so much potential that General Motors is forming a new business unit to serve it. The first product for the new venture called BrightDrop will be an electric-powered wheeled pallet that will take goods from the warehouse to trucks...

FRANKFURT, Germany — Europe’s push into electric cars is gathering speed — despite the pandemic. Automaker Volkswagen tripled sales of battery-only cars in 2020 as its new electric compact ID.3 came on the market ahead of tough new European Union limits on auto emissions. And Germany, long a laggard in...

PRIEST RIVER, Idaho — An internet provider based in northern Idaho, says it will block Facebook and Twitter from its WIFI service for some customers due to claims of censorship. KREM-TV reports that the decision by Your T1 WIFI came after Twitter and Facebook banned President Trump from their platforms...

NEW YORK — The ownership group for several talk radio hosts across the country, including syndicated figures such as Mark Levin and Dan Bongino, says its personalities need to tone things down or face firing. Cumulus Media content chief Brian Philips sent an email to managers Wednesday, the day of...

WASHINGTON — American businesses and government agencies could be spending upward of $100 billion over many months to contain and fix the damage from the Russian hack against the SolarWinds software used by so many Fortune 500 companies and U.S. government departments. “Unlike good wine, this case continues to get...

LORDSTOWN, Ohio — An upstart electric vehicle maker said Monday that it now has more than 100,000 orders for its new pickup truck. Lordstown Motors Corp. plans to begin production of the Endurance All-Electric Pickup Truck in September at a former General Motors assembly plant near Youngstown. The company took...

A growing number of Wall Street banks and businesses have cut ties with President Donald Trump’s campaign and financial arms, as well as the broader Republican Party, following last week’s riots and insurrection at the U.S. Capitol. The financial technology company Stripe has stopped processing payments for the Trump campaign,...