Business category, Page 190

WASHINGTON — Automaker Daimler AG and subsidiary Mercedes-Benz USA have agreed to pay $1.5 billion to the U.S. government and California state regulators to resolve emissions cheating allegations, officials said Monday. The Department of Justice, Environmental Protection Agency and the California attorney general’s office say Daimler violated environmental laws by...

For some of Pennsylvania’s 616,000 jobless workers, an $1,800 lump-sum check for six weeks of unemployment may never be in the mail because the special unemployment aid could be used up before they get the money, state Labor department officials warned Monday. The likelihood the state will be unable to...

Robert Levin is stunned by the reception his reconstituted family-owned furniture chain received since reopening 19 stores in Pennsylvania and Ohio two months ago. Levin, who sold the chain to Michigan-based Art Van Furniture in 2017, came out of retirement this year to rescue the business from bankruptcy. Now, he...

NEW YORK — Walmart is teaming up with a company called Zipline to launch drone delivery program early next year that will deliver health and wellness products close to the retailer’s headquarters in Northwest Arkansas. Walmart, based in Bentonville, Ark., said Monday that it plans to eventually expand to general...

NEW YORK — Amazon will hire another 100,000 people to keep up with a surge of online orders. The company said Monday that the new hires will help pack, ship or sort orders, working in part-time and full-time roles. Amazon said the jobs are not related to its typical holiday...

The owner of TikTok has chosen Oracle over Microsoft as its preferred suitor to buy the popular video-sharing app, according to a source familiar with the deal who was not authorized to speak publicly about it. Microsoft announced Sunday that its bid for TikTok was rejected, removing the tech giant...

WASHINGTON — The U.S. budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year, the Treasury Department said Friday. The ocean of red ink is a product of the government’s massive spending to try to cushion the impact of a coronavirus-fueled recession...

NEW YORK — Stocks are trying for another comeback on Wall Street Friday, as a tumultuous week of big swings comes to a close. The S&P 500 was up 0.2% in morning trading, but only after an earlier gain of 0.8% vanished completely. Momentum has been lightning-quick to shift on...

NEW YORK — Mall owners Simon Property Group and Brookfield Property Partners are close to a deal to buy department store chain J.C. Penney out of bankruptcy and keep the chain running. Penney’s lawyer Josh Sussberg announced the tentative pact, which will save roughly 70,000 jobs and avoid liquidation, during...

WASHINGTON — U.S. employers advertised more jobs but hired fewer workers in July, sending mixed signals about the job market in the wake of the coronavirus outbreak. The Labor Department said Wednesday that the number of U.S. job postings on the last day of July rose to 6.6 million from...

NEW YORK — Luxury goods giant LVMH is ending its takeover deal of jewelry retailer Tiffany & Co., saying the French government had requested a delay to assess the threat of proposed U.S. tariffs and amid wider industry troubles caused by the pandemic. The Paris-based conglomerate said that both the...

Calls for a consumer boycott are being heard after a Hobby Lobby store was photographed with a pro-Trump display in one of its buildings. The image, originally posted to Twitter of the undetermined location arts-and-crafts store, showed “USA vote Trump” in decorative letters at the end of an aisle. Twitter...

NEW YORK — Big tech stocks are continuing their Icarus-like flight path, and more sharp declines for them are pulling Wall Street lower in early Tuesday trading. The S&P 500 was down 1.9%, highlighted by the 2.7% tumble for tech stocks within the index. Apple sank 2.9% and Microsoft fell...

Obscene profits. Don’t you miss them? Since the pandemic and recession began, fat profits have been hard to come by. Here are five stocks whose profit margins are still wide and whose prospects look good to me. Applied Materials Applied Materials Inc. (AMAT), based in Santa Clara, Calif., is one...

President Donald Trump spent more than $1 billion in taxpayer funds, rolled back environmental rules and tried to stop power plant closings to fulfill a vow he made to West Virginia coal miners in the 2016 campaign. But nothing he’s done is rescuing the coal industry. Since Trump’s inauguration, U.S....

A trio of stainless steel cars produced by Ford and Allegheny Ludlum sold at auction for $950,000. Billed as “The Historic Stainless Steel Trifecta” and a once-in-a-lifetime opportunity, the cars were sold Saturday night as a single lot by Worldwide Auctioneers at the 13th annual Auburn Auction. They were offered...

NEW YORK — Ahead of Labor Day, unions representing millions across several working-class sectors are threatening to authorize work stoppages in support of the Black Lives Matter movement amid calls for concrete measures that address racial injustice. In a statement first shared with The Associated Press, labor leaders who represent...

DETROIT — Hyundai has reversed itself on a recall to fix a defect that could cause engine fires and is now telling owners of more than 200,000 vehicles to park them outdoors until repairs are made. The company, along with affiliated South Korean automaker Kia, on Thursday said they were...

The U.S. Department of Health and Human Services recently terminated multiple contracts to add ventilators to the country’s Strategic National Stockpile. And, while federal health officials say they now have enough ventilators to meet maximum national capacity in a crisis, one of the terminated contracts — awarded to Philips Respironics,...

DETROIT — Korean automakers Hyundai and Kia are recalling over 591,000 vehicles in the U.S. to fix a brake fluid leak that could cause engine fires. The recalls cover more than 440,000 Kia Optima midsize sedans from 2013 through 2015 and Kia Sorento SUVs from 2014 and 2015. Also covered...

DETROIT — General Motors and Honda say they have signed a deal to explore sharing vehicle underpinnings and propulsion systems in North America. The companies say planning discussions on jointly designed vehicles will start immediately and include vehicles powered by electricity and internal combustion engines. Engineering work would begin early...