Business category, Page 191
Stocks move higher, erasing weekly loss for the S&P 500
Stocks moved broadly higher Thursday, bringing the S&P 500 index out of the red for the week. Health care and technology companies were among the biggest gainers. The S&P 500 was up 0.6% as of 1:03 p.m. Eastern. The benchmark index is on track to close above its last all-time...
Own an Echo? Amazon may be helping itself to your bandwidth
Do you own an Amazon smart device? If so, odds are good that the company is already sharing your internet connection with your neighbors unless you’ve specifically told it not to. On Tuesday, the company launched a program that forces users of many Echo smart speakers and Ring security cameras...
Chipotle raises menu prices to cover higher employee wages
Employees at Chipotle Mexican Grill are making more money, and the consumer is covering the cost through increased menu prices. According to a report by CNBC, menu prices at Chipotle have risen by around 4% to cover the cost of increased hourly pay for the chain’s employees. Chipotle is one...
U.S. indexes end lower; more volatility for online favorites
A slide in banks and industrial companies nudged stocks on Wall Street to modest losses Wednesday after an early gain faded in the last half-hour of trading. Stocks championed by hordes of online retail investors, the “meme” stocks as they have become known, were volatile once again. The S&P 500...
Stocks end mostly higher; Wendy’s becomes latest meme stock
Major indexes closed mostly higher on Wall Street, thanks largely to gains in a handful of Big Tech companies. Small-company stocks continued to outpace the rest of the market, while investors’ attention turned to huge gains in a new batch of “meme” stocks favored by online investors, including Wendy’s and...
Wabtec Corp. opens 3D printing operation near Pittsburgh InternationalVideo
Instead of using a mill to fabricate aluminum into the parts used in railway systems, Wabtec Corp. will be using a $2.5 million 3D printer that’s among the largest in the world at its new 11,000-square-foot facility in Findlay. The company is the successor of Westinghouse Air Brake Corp. Founded...
Stocks slip on Wall Street, pulling back from record highs
Stocks edged lower in midday trading Monday after briefly approaching the record highs they reached a month ago. The quiet opening to the week follows several choppy weeks as investors continue to gauge the economy’s recovery and the risks rising inflation. Wall Street faces a relatively light week of economic...
GM expanding OnStar service to drivers of any vehicle in U.S., Canada
Drivers of vehicles other than those made by General Motors now have access to OnStar’s emergency advisors and additional services. OnStar, the GM subsidiary that offers subscription-based services such as communications with trained advisors, in-vehicle security, emergency and roadside help, is making its OnStar Guardian mobile app available to anyone...
France fines Google $268M for unfair online ads treatment
PARIS — France’s anti-competition watchdog decided Monday to fine Google $268 million for abusing its “dominant position” in the online advertising business, an unprecedented move, the body said. Practices used by Google “are particularly serious because they penalize Google’s competitors” in certain markets and publishers of mobile sites and applications,...
Developers try to address Churchill residents’ questions, continued opposition of potential Amazon site
Representatives of a development company interested in purchasing a plot of land in Churchill for use as an Amazon distribution center addressed an array of concerns from residents, many of whom oppose the potential development. During a Churchill Borough Planning Commission meeting on Wednesday, Hillwood Development’s representatives and experts gave...
U.S. businesses struggle to fill jobs even as hiring picks up
Hiring in the United States picked up in May yet was slowed again by the struggles of many companies to find enough workers to keep up with the economy’s swift recovery from the pandemic recession. U.S. employers added 559,000 jobs last month, the Labor Department said Friday, an improvement from...
Stocks end the week higher as U.S. jobs report calms Fed fears
Wall Street closed out a week of mostly choppy trading with broad gains Friday, pushing the S&P 500 to its second straight weekly gain. The S&P 500 rose 0.9% and finished with a 0.6% gain for the week. Technology stocks were biggest gainers and did the most to drive the...
Facebook suspends Trump accounts for 2 years
Facebook said it is suspending former President Donald Trump’s accounts for two years following its finding that he stoked violence ahead of the deadly Jan. 6 insurrection. “At the end of this period, we will look to experts to assess whether the risk to public safety has receded. We will...
Bargain hunters pounce as Trump condo prices hit decade lows
NEW YORK — The building has stunning Manhattan skyline views, its spa offers deep-tissue massages, and the fancy restaurant off the lobby serves up prime steaks. Best of all, many apartments at the Trump World Tower are selling at a deep discount — assuming the buyer doesn’t mind the name...
EU, U.K. open first antitrust probe into Facebook
Facebook Inc. is the latest big tech target of the European Union as regulators opened a formal investigation into its classified advertising service. The European Commission will probe whether the social network violated competition rules by using data gathered from advertisers to compete against them in classified ads, it said...
Jobless claims dip below 400,000 for first time in pandemic
Applications for state unemployment insurance dipped below 400,000 for the first time during the pandemic as hiring accelerates and the economy strengthens heading into the summer months. Initial claims in regular state programs decreased by 20,000 to 385,000 in the week ended May 29, Labor Department data showed Thursday. The...
Stocks end lower on Wall Street; AMC sinks after stock saleVideo
Technology companies helped drag stocks lower on Wall Street Thursday, knocking the S&P 500 into the red for the week. The benchmark S&P 500 index dropped 0.4% and is now on track for a 0.3% weekly loss. Technology companies, whose pricey valuations make them more sensitive to inflation fears, were...
United bets on supersonic future with $3 billion Boom jet orderVideo
United Airlines is jumping into the potential market for supersonic travel with the first firm order for Boom Technology Inc.’s Overture aircraft, wagering that business flyers will pay top dollar for speedier trips across oceans. The airline will buy 15 of the supersonic jets, which are expected to carry passengers...
Twitter starts subscription service in Canada, Australia
Twitter is rolling out a subscription service, starting in Canada and Australia, that offers perks like an undo button for subscribers. The “Twitter Blue” subscription service will offer features that users have long asked for — but still no edit button. It includes bookmark folders for organizing saved content; an...
Walmart aims to empower workers with own devices, new app
NEW YORK — Walmart is coming out with a new app for its store workers’ phones that allows them to do a variety of tasks from digitally clocking into work to helping locate merchandise and answering customers’ questions. It also has a push-to-talk feature to let them communicate directly with...
Stocks manage modest gains overall; AMC nearly doubles
Wall Street wrapped up another wobbly day of trading Wednesday with modest gains for the major stock indexes, as energy and technology companies kept losses elsewhere in the market in check. The benchmark S&P 500 rose 0.1% after wobbling between a gain of 0.4% and a loss of 0.1%. Strength...
Marshall Township’s Kevin Walker becomes 1st Black man to lead Duquesne Light Co.
Kevin Walker of Marshall Township has been named the new president and CEO of Duquesne Light Co., company officials announced. Walker is a U.S. Army combat veteran with more than three decades of experience leading utility companies and is the first Black man to become head of Duquesne Light Co.,...
Even after Bernie Madoff’s death, work to unwind epic fraud goes on
NEW YORK — Epic Ponzi scheme mastermind Bernie Madoff is dead. But the effort to untangle his web of deceit lives on. More than 12 years after Madoff confessed to running one of the biggest financial fraud in Wall Street history, a team of lawyers is still at work on...
Amazon to hold Prime Day over 2 days in June
NEW YORK — Amazon said Wednesday that it will hold its annual Prime Day over two days in June this year, the earliest it has ever held the sales event. Typically, Amazon holds Prime Day in July. Amazon has said it was holding it earlier because of the Olympics, which...
Moderna seeks full FDA approval for its covid-19 vaccine
Moderna Inc. said it is seeking a full approval for its covid-19 vaccine, a move that could make a shot cleared on an emergency basis during the pandemic into a stable source of revenue for years to come. The company said in a statement Tuesday that it will submit data...
