Business category, Page 198
2 new airlines await Americans looking to fly somewhere
Americans are traveling in the greatest numbers in more than a year, and soon they will have two new leisure-oriented airlines to consider for those trips. Both hope to draw passengers by filling in smaller strands on the spider web of airline routes crisscrossing the United States. Avelo Airlines said...
Stocks close mixed; S&P 500 notches another record high
Wall Street capped another choppy day of trading Wednesday with a mixed finish for stock indexes and another all-time high for the S&P 500. The benchmark index inched up 0.1% after spending much of the day wavering between small gains and losses. Technology, communication and financial companies helped lift the...
U.S. trade deficit jumps 4.8% to $71.1 billion in February
The U.S. trade deficit grew to a record $71.1 billion in February as a decline in exports more than offset a slight dip in imports, with severe weather taking much of the blame from analysts, who were expecting a slightly lower gap. The coronavirus pandemic has stifled global trade for...
U.S. Treasury says 156 million coronavirus relief payments issued
WASHINGTON — The Treasury Department said Wednesday it has issued more than 156 million payments as part of President Joe Biden’s coronavirus relief plan, including 25 million payments that were primarily to Social Security beneficiaries who hadn’t filed 2019 or 2020 tax returns. The direct payments of as much as...
Target to spend over $2 billion on Black-owned businesses
NEW YORK — Target will spend a total of more than $2 billion at Black-owned businesses by 2025 as part of its effort to advance racial equity. That’s a significant increase in overall spending on Black-owned businesses, according to Target, though it declined be more specific Wednesday. The Minneapolis retailer...
Heinz plans to up packet production as restaurants experience ketchup shortage
This pandemic-related shortage is hitting close to home. Restaurants and fast-food chains are experiencing shortages of ketchup as calls for takeout and delivery have increased and local brand Heinz, which has the “highest market share” of the condiment, has been hit the hardest, according to the Wall Street Journal. Data...
Stocks slip on Wall Street as market eases back from records
A wobbly day of trading on Wall Street left stocks slightly lower Tuesday, pulling the market back from the all-time highs it reached a day earlier. The S&P 500 snapped a three-day winning streak, slipping 0.1% after wavering between small gains and losses much of the afternoon. Stocks within the...
John Dorfman: Knocked down, these 3 stocks may rise again
When stocks are punished, it’s not always for a good reason. That’s why I compile a quarterly Casualty List of stocks that have been banged up in the latest quarter and which I think have the potential to provide above-average gains. On the whole, the Casualty List has been successful....
Target launches car seat trade-in promotion
After happening just once last year, Target returns with their car seat trade-in promotion. Starting on Monday, the company will take back children car seats — including old and expired seats — at Target stores and give customers a 20% coupon good for a new car seat, car seat base,...
Yellen calls for minimum global corporate income tax
WASHINGTON — U.S. Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to offset any disadvantages that might arise from the Biden administration’s proposed increase in the U.S. corporate tax rate. Citing a “thirty-year race to the bottom” in which countries...
Have an idea to improve masks? Biden administration holds $500K contest
President Joe Biden’s administration is looking for ways to improve face masks — and will give out $500,000 in prizes to help do it. The Mask Innovation Challenge invites Americans to submit ideas to make masks more comfortable to wear and to eliminate “barriers to use,” such as discomfort, contact...
Some businesses want masks on, even as states drop mandates
NEW YORK — Although Texas no longer requires people to wear masks to protect against covid-19, customers do need them to enter De J. Lozada’s store. “We cannot afford to take chances with the lives of my staffers. They’re young people and their parents have entrusted me with their care,”...
Stocks close broadly higher after big job gains in March
Stocks on Wall Street notched broad gains Monday as investors welcomed more signs that the economy is on the path to recovery, The S&P 500 rose 1.4% to an all-time high after closing above the 4,000-point mark for the first time last Thursday. The Dow Jones Industrial Average also set...
GameStop finally announces a share sale
Two months after a market phenomenon took shares of GameStop to the moon, the video game retailer said Monday that it will sell up to 3.5 million of its shares with the price still vastly elevated. The company said the shares will be sold through an “at-the-market” offering, which lets...
Amazon apologizes to congressman for bogus ‘peeing’ tweet
NEW YORK — Amazon is sorry for tweeting about peeing. The company apologized in a late Friday blog post for a tweet it sent to a congressman more than a week ago denying that its employees work so hard they must urinate in empty water bottles. It also admitted that...
Global stocks rise; Treasury yields rally after jobs report
NEW YORK — Stocks rose in many of the markets worldwide that were open on Good Friday, while Treasury yields rallied after a report showed U.S. employers added hundreds of thousands more jobs last month than economists expected. The U.S. bond market closed early after an holiday-shortened session that saw...
TribLIVE High School Sports Network’s Justin LaBar recognized in Editor & Publisher
TribLIVE High School Sports Network’s general manager Justin LaBar has been recognized by Editor & Publisher, a national industry magazine that focuses on the news industry. LaBar was selected for the publication’s list of 25 news professionals under the age of 35. LaBar, who holds a bachelor’s degree in broadcasting...
March hiring accelerated to 916K, yet many jobs remain lost
America’s employers unleashed a burst of hiring in March, adding 916,000 jobs in a sign that a sustained recovery from the pandemic recession is taking hold as vaccinations accelerate, stimulus checks flow through the economy and businesses increasingly reopen. The March increase — the most since August — was nearly...
Manhattan office space soars to highest level in 3 decades
The amount of office space available in Manhattan is at the highest level in at least 30 years. The availability rate jumped to 17.2% in the first quarter, according to a report Thursday by Savills. Much of that was driven by a surge in sublease space, which reached 22 million...
Egypt expects $1 billion in damages over stuck ship in Suez
CAIRO — Egypt is expecting more than $1 billion in compensation after a cargo ship blocked the Suez Canal for nearly a week, according to the top canal official. He also warned the ship and its cargo will not be allowed leave Egypt if the issue of damages goes to...
Wall Street moves higher, pushing S&P 500 over 4,000 level
Stocks were moderately higher Thursday, helped by a rise in technology companies as well as smaller companies, which would benefit from a quickly growing economy. The S&P 500 rose 0.8% as of 11:44 a.m. Eastern, crossing the 4,000-point mark for the first time. The benchmark index is coming off its...
Wall Street ticks higher, led by tech and smaller stocks
NEW YORK — U.S. stocks are drifting higher in morning trading on Wednesday, as investors wait to hear the details about Washington’s next mammoth push for the economy. The S&P 500 was up 0.6%, ahead of a speech later in the day where President Joe Biden is expected to discuss...
Volkswagen hoaxes media with fake statement on name change
DETROIT — Volkswagen of America issued false statements this week saying it would change its brand name to “Voltswagen,” to stress its commitment to electric vehicles, only to reverse course Tuesday and admit that the supposed name change was a joke. Mark Gillies, a company spokesman, confirmed Tuesday that the...
NCAA, former athletes head to Supreme Court over how football, basketball players are rewarded
WASHINGTON — The NCAA and former college athletes are getting ready to play ball at the Supreme Court. With the March Madness basketball tournament ongoing, the high court will hear arguments Wednesday in a case about how colleges can reward athletes who play Division I basketball and football. The NCAA...
An unwelcome prank: Volkswagen purposely hoodwinks reporters
NEW YORK — Journalists are used to being wary about odd pranksters pulling April Fool’s Day hoaxes at this time of year. Few expect it from a multi-billion dollar corporation. Volkswagen admitted Tuesday that it had put out a false news release saying that it had changed the name of...
