Business category, Page 192
John Dorfman: Where the insiders are buying stock lately, you might want to, too
“Eating your own cooking” is a good sign in the stock market. When a company’s executives are buying its shares, it often pays for investors to follow suit. Lately, there’s not a lot of buying, and it’s happening at companies you might never have heard of. Here’s a peek at...
U.S. cities to power revival in domestic travel, TripAdvisor CEO saysVideo
The United States will have a busy vacation season this summer as cities make a strong comeback, according to Stephen Kaufer, chief executive officer of TripAdvisor Inc. “Now we have a lot more activities all around the country, and it’s not just outdoors. The cities are making a very real...
U.S. consumers boosted spending by a slight 0.5% in April
WASHINGTON — Americans increased their spending by a slight 0.5% in April, a slowdown after a massive gain in March that had been powered by the distribution of billions of dollars in individual stimulus checks. Even with the pullback from a 4.7% surge in spending in March, the April increase...
Sheetz to start accepting digital currency payments this summer
Digital payment network Flexa announced Thursday that Sheetz convenience stores will accept digital currency payments and will be the first convenience store chain to do so. The program is expected to roll out this summer. Flexa said Sheetz will accept bitcoin, ether, litecoin, dogecoin and others, first at its cafe...
Many women CEOs saw raises last year, but ranks remain thin
Most of the women running the biggest U.S. companies saw their pay increase last year, even as the pandemic hammered the economy and many of their businesses. Despite those gains, however, the median pay for female chief executives actually fell in 2020. Already a small group, they saw several high-profile...
Bank CEOs tell Congress they’ll work to avoid foreclosuresVideo
WASHINGTON — The chief executives of the nation’s largest banks went in front of Congress for a second day Thursday, facing questions ranging from bitcoin to their efforts to keep Americans in their homes after government aid to pandemic-hit mortgage holders expires this summer. The House hearing comes after senators...
Fewer Americans sign contracts to buy homes in April
SILVER SPRING, Md. — Fewer Americans signed contracts to buy homes in April as a lack of supply continues to foil would-be buyers. The National Association of Realtors’ index of pending home sales fell 4.4% to 106.2 in April, a third straight sluggish month after nearly a year-long rebound from...
U.S. jobless claims fall to 406,000, a new pandemic low
WASHINGTON — The number of Americans seeking unemployment benefits dropped last week to 406,000, a new pandemic low and more evidence that the job market is strengthening as the virus wanes and economy further reopens. Thursday’s report from the Labor Department showed that applications declined 38,000 from 444,000 a week...
Shoppers go back to stores, but retailers face challenges
NEW YORK — Americans are going back to one of their favorite past times: store shopping. With more people getting vaccinated and dropping their face masks, retailers from Walmart to Macy’s are seeing an eager return to their stores after more than a year of their customers migrating online during...
Stocks close modestly higher after choppy day on Wall Street
A choppy day of trading on Wall Street ended with stocks closing higher Wednesday, reversing much of the S&P 500’s modest pullback the day before. The benchmark index ended just under 0.2% higher after wavering between small gains and losses. Retailers and other companies that rely on consumer spending made...
New Era apologizes, pulls hats mocked on social media
NEW YORK — New Era says it pulled a lampooned line of Major League Baseball hats from its website Tuesday and is apologizing for design inaccuracies on the caps meant to pay homage to communities with big league clubs. New Era spokesman Mark Maidment said in a statement Wednesday to...
Workers return to weirder offices with moveable walls and touchless elevators
Masked, desk-bound and unable to recognize their colleagues in an elevator, people are starting to return to offices in cities around the world where the pandemic is receding. Many will find their offices transformed, too. In the challenge to make offices both covid-19-safe and attractive places to work, firms have...
Ford: Electric vehicles to be 40% of global sales by 2030
DETROIT — Ford expects 40% of its global sales to be battery-electric vehicles by 2030 as it adds billions to what it’s spending to develop them. Ahead of a presentation to Wall Street on Wednesday, the automaker says it will add about $8 billion to its EV development spending from...
Amazon to buy MGM, studio behind James Bond and ‘Shark Tank’
NEW YORK — Amazon is going Hollywood. The online shopping giant is buying MGM, the movie and TV studio behind James Bond, “Legally Blonde” and “Shark Tank,” with the hopes of filling its video streaming service with more stuff to watch. Amazon is paying $8.45 billion for MGM, making it...
Stocks give up an early gain and end lower on Wall Street
Wall Street capped a listless day of trading Tuesday with a modest pullback for the major U.S. stock indexes, giving back some of the market’s gains after a solid start to the week. The S&P 500 slipped 0.2% after spending much of the day wavering between small gains and losses....
Board fight at Exxon intensifies spotlight on climate change
NEW YORK — ExxonMobil is facing a major challenge from a group of investors in one of the biggest fights a corporate boardroom has endured over its stance on climate change, an issue of rising urgency for many shareholders. The investor group is pushing to replace four of the oil...
D.C. files antitrust case vs Amazon over treatment of vendors
The District of Columbia has sued Amazon, accusing the online retail giant of anticompetitive practices in its treatment of sellers on its platform. The practices have raised prices for consumers and stifled innovation and choice in the online retail market, the D.C. attorney general alleges in an antitrust suit. The...
John Dorfman: 6 stocks I would shun
Wall Street issues about eight buy recommendations for every sell recommendation. But at times, knowing when to sell is the most important skill in the stock market. Here are six stocks I think you should sell now, if you own them. If you don’t own them, I’d avoid them. And...
Pa. to resume job search requirement for unemployment benefits
Beginning July 18, Pennsylvania’s unemployed workers again will have to prove they applied for two jobs per week to continue to receive jobless benefits, a state labor official said Monday. Unemployed workers also must register for job search services with the PA CareerLink offices. The requirements were suspended last year...
Peloton plans to build 1st U.S. factory in Ohio, add 2K jobs
Peloton plans to spend about $400 million to build its first U.S. factory in Ohio. The exercise equipment maker said Monday that the Peloton Output Park will make the Peloton Bike, Bike+ and Peloton Tread starting in 2023. It will have more than 200 acres and more than 1 million...
Stocks climb on Wall Street as appetite for risk returns
Stocks closed higher Monday on Wall Street, and the broad rally helped the S&P 500 claw back more than half of its losses over the past two weeks. The benchmark index rose 1%, led by solid gains in technology and communication companies such as Microsoft, Google’s parent company, Facebook and...
Stocks end a wobbly day mixed; S&P 500 posts a weekly loss
Wall Street racked up more losses Friday on a choppy day of trading that left the major indexes mixed and the S&P 500 with its second straight weekly decline. The S&P 500 ended 0.1% lower after having been up 0.7% in the early going. The benchmark index, which hit an...
Ford CEO says U.S. needs to regulate automated driving systems
DETROIT — The CEO of America’s second-largest auto company is calling for the federal government to set standards for fully or partially automated vehicles to tighten the safety of electronic driving systems. In urging federal regulation, Ford CEO Jim Farley becomes the highest-profile auto executive to publicly recognize a need...
Warm welcome for oat milk maker Oatly in Wall Street debut
Oatly, the world’s largest oat milk company, raised $1.4 billion in an initial public offering Thursday on the Nasdaq stock exchange, capitalizing on a global surge in demand for its products. Oatly priced its shares at $17 apiece ahead of the IPO, giving the company a valuation of nearly $10...
Kia recalls vehicles a 2nd time, warns owners to park outside
DETROIT — Kia is recalling more than 440,000 cars and SUVs in the U.S. for a second time to fix a problem that can cause engine fires. And the automaker is telling owners to park them outdoors and away from structures because fires could happen when the engines aren’t running....
