Business category, Page 208
Canada urges Biden not to cancel Keystone XL pipeline on first day
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...
Stocks fall as economy’s pain deepens, head for weekly loss
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...
Retail federation: Holiday sales up 8.3% amid big spending shift
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...
Toyota fined for failing to report, fix emissions defects
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...
5 things to know about your covid stimulus check
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...
U.S. unemployment claims jump to 965,000 as virus takes toll
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 posts $12 billion loss in 2020, cautious 1Q outlook
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...
Wall Street drifts, as even Treasury yields slow their rise
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...
Amazon seeks to keep conservative app Parler offline
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...
Target continues to thrive in whirlwind retail environment
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...
Pet food recall expanded after 70 dogs die, 80 more sickened, says FDA
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...
Stocks drift on Wall Street; Treasury yields keep rallying
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....
GM charges up new unit to sell electric delivery vans, gear
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...
Volkswagen triples electric car sales ahead of climate rules
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...
Idaho internet provider to block Facebook and Twitter for censorship
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...
Report: Cumulus Media tells radio hosts stop stolen election talk
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...
Cleaning up SolarWinds hack may cost as much as $100 billion
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...
Electric truck maker hits 100,000 orders ahead of fall start
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...
Wall Street distances itself from Trump, GOP after riots
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,...
Meet the online gadget show, a hall of mirrors to the future
Every January, huge crowds descend on Las Vegas for the CES gadget show, an extravaganza of tech and glitz intended to set the tone for the coming year in consumer technology. CES kicks off this week, but thanks to the pandemic, it will be in a radical new format —...
Chunky bootmaker Dr. Martens to sell shares to public
The maker of Dr. Martens boots, the chunky-soled footwear once championed by rebellious young people but now favored by celebrities like Rihanna, plans to sell shares to the public as the existing owners seek to profit from growth of the iconic brand. Dr. Martens Ltd. said Monday that current investors...
Stocks slip as Wall Street takes a breather after 4-day run
Stocks are slipping Monday as trading cools on Wall Street and in markets around the world following their strong record-setting runs. The S&P 500 was 0.5% lower in late morning trading and on pace to take a breather from a four-day winning streak that carried it to more all-time highs....
Businesses rethink political donations as a result of Capitol siege
Businesses are rethinking political contributions in the wake of the deadly Capitol siege by President Donald Trump’s supporters on Wednesday. Citigroup confirmed Sunday that it is pausing all federal political donations for the first three months of the year. In a memo to employees Friday, Citi’s head of global government...
Women Leading Women wants to improve personal, professional growth
Can we talk? That’s what two friends from Fox Chapel are encouraging with Women Leading Women, a nonprofit co-founded in 2019 by Fox Chapel residents Dana Hanna and Dr. Jenny Yu. Hanna, 46, and Yu, 43, met at a social event, bonded quickly and set their sights on creating a...
Parler squeezed as Trump seeks new online megaphone
President Donald Trump has been kicked off of most mainstream social media platforms following his supporters’ siege on the U.S. Capitol. But it remains to be seen how fast or where — if anywhere — on the internet he will be able to reach his followers. The far right-friendly Parler...
