Business category, Page 210
Major U.S. stock indexes waver on final day of tumultuous year
U.S. stocks wavered between small gains and losses in early afternoon trading Thursday, hovering near record highs as investors close the book on a tumultuous year. The S&P 500 was mostly unchanged and remains close to the record high it set on Monday. The Dow Jones Industrial Average, which set...
Hedge fund Alden offers to buy Tribune, valuing it at $521M
Hedge fund Alden, Tribune’s largest shareholder, has offered to buy the rest of the newspaper publisher at a price that values it at $520.6 million. Alden sent a letter to Tribune on Dec. 14, according to a regulatory filing posted Thursday, offering $14.25 per share for the stock of Tribune...
Stocks hold on to modest gains, marking another Dow record
Stocks eked out modest gains Wednesday, keeping the major stock indexes on Wall Street at or near record highs. The S&P 500 inched up 0.1%, recovering some of its losses from a day earlier. It’s hovering within 0.1% of the record high it set on Monday. The Dow Jones Industrial...
Stocks fall as investors turn cautious following recordsVideo
Stocks closed modestly lower Tuesday on Wall Street as investors turned cautious a day after major indexes closed at their latest record highs. The S&P 500 slipped 0.2%, the benchmark index’s first decline in four days. Investors shifted money away from technology companies, which have been among of the biggest...
John Dorfman: My favorite stocks for 2021
Pfizer, Walt Disney and D.R. Horton are among my favorite stocks for the coming year. As you tune up your portfolio for the coming year — a year that hopefully won’t be dominated by a pandemic, as this year was — here are 10 of my favorite stocks to consider....
More than 190,000 ceiling fans recalled because blades fly off
NEW YORK — More than 190,000 ceiling fans sold at Home Depot are being recalled after reports that the blades fell off while spinning, hitting people and causing property damage. The Hampton Bay Mara indoor and outdoor ceiling fans were sold this year between April and October at Home Depot...
Fired Tyson boss says covid office pool was a ‘morale boost’
One of the Tyson Foods managers fired for betting on how many workers would contract covid-19 at an Iowa pork plant said the office pool was spontaneous fun and intended to boost morale. Don Merschbrock, former night manager at the plant in Waterloo, Iowa, said he was speaking in an...
Stocks hit records after Trump signs $900B aid package
Stocks began the final week of 2020 with more gains Monday, nudging the major U.S. indexes to record highs. The S&P 500 climbed 0.9%, powered by gains in technology, communication services and consumer discretionary stocks. Companies that were hit the hardest by the pandemic, including restaurants, airlines and cruise operators,...
U.S. stocks tick higher in quiet pre-Christmas trading
NEW YORK — U.S. stock indexes are closing modestly higher Thursday after drifting through an abbreviated session. The S&P 500 rose 0.4% before trading shut on Wall Street for the Christmas holiday, trimming its small loss for the week. Markets will reopen Monday. The majority of stocks in the S&P...
‘We are struggling’: A bleak Christmas for America’s jobless
NEW YORK — Last Christmas, Shanita Matthews cooked up a feast for her family of three: Roast chicken, barbecue spareribs, spinach, macaroni and cheese. This year? They’ll stick with tuna fish and crackers, among the few items she can afford at the supermarket. “We’re not really doing Christmas — I...
Writing off more of that 3-martini lunch is causing a stir
Stuffed into the new emergency relief package is a morsel that President Donald Trump has long had on the buffet of his economic wish list: restoring full tax breaks for restaurant business meals. But experts say it’s scant immediate help for an industry reeling from the pandemic, while critics deride...
S&P 500 ticks higher, on track to break 3-day losing streak
Stocks are ticking higher on Wall Street Wednesday following a mixed set of reports on the economy. The S&P 500 was up by 0.6% and on pace for its first gain after three days of losses pulled it off its record high. The Dow Jones Industrial Average was 253 points...
VW recalls Beetles to replace Takata air bag inflators
DETROIT — Volkswagen is recalling over 105,000 Beetles with faulty Takata front driver’s air bags that can explode and hurl shrapnel. The recall covers Beetles from the 2012 through 2014 model years. Dealers will replace the front driver’s air bags at no cost to owners starting on Feb. 12. Takata...
GM recalls 840K vehicles for seat belt, suspension problems
DETROIT — General Motors is recalling nearly 840,000 vehicles in the U.S. for suspension problems or because the front seat belts can fail. The seat belt recall covers 624,000 2019 through 2021 Chevrolet Silverado 1500 and GMC Sierra 1500 pickup trucks. Also included are the 2021 Chevrolet Suburban and Tahoe...
U.S. layoffs remain elevated as 803,000 seek jobless aid
WASHINGTON — The number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress nine months after the coronavirus outbreak sent the U.S. economy into recession and caused millions of layoffs. The latest figure, released Wednesday by the...
Pennsylvania to freelance workers: Checks will be in the mail, but don’t know when
State officials want to assure about 500,000 jobless Pennsylvanians who are independent contractors, freelancers and tech workers that they will continue to get their unemployment benefits under the new $900 billion covid relief package, but they don’t when the checks will be in the mail. Labor and Industry Acting Secretary...
November existing home sales fall 2.5% following record summer
CHARLOTTE, N.C. — The market for existing homes cooled slightly in November, the National Association of Realtors said Tuesday, after climbing through the late spring, summer and early fall despite the pandemic. Existing home sales fell 2.5% between October and November on a seasonally adjusted basis to 6.69 million annualized...
Google rejects DOJ antitrust claims in court filing
Google is pushing back in court this week on antitrust claims brought against it by the Justice Department two months ago. In a legal filing with the U.S. District Court for the District of Columbia, Google denied or partially rejected almost 200 specific complaints against it. On only one count,...
Rich Americans who fear higher taxes hurry to move money now
Rich Americans are rushing to make large transactions before the end of the month, trying to get ahead of any moves next year by President-elect Joe Biden and Democrats in Congress to raise taxes or close loopholes. Some advisers say they’re busier than ever in the last weeks of 2020,...
Stocks around the world slump as coronavirus mutation hits economy
NEW YORK — Stocks are falling Monday as worries about a new, potentially more infectious strain of the coronavirus have borders shutting around the world and adding more threats for the economy. The S&P 500 was 1% lower in early trading, putting it on track to fall for a second...
Nestlé recalls some Lean Cuisine meals because they may contain plastic pieces
Nestlé Prepared Foods is recalling Lean Cuisine Baked Chicken meals because they may be contaminated with pieces of hard, white plastic. According to an announcement with the U.S. Department of Agriculture’s Food Safety and Inspection Service, “The problem was discovered on December 18, 2020, by the firm, after receiving five...
China criticizes U.S. corporate auditing penalties
BEIJING — China’s government on Monday called on Washington not to enforce a measure that might expel Chinese companies from U.S. stock exchanges if they fail American government audits. The law, signed Friday by President Donald Trump, is a response to complaints Chinese companies were failing to comply with stricter...
Average US price of gas up 4 cents a gallon to $2.26
CAMARILLO, Calif. — The average U.S. price of regular-grade gasoline jumped 4 cents a gallon over the past two weeks to $2.26. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that a rise in crude oil prices spurred the increase. The price at the pump is 35 cents...
New look, taste for Westmoreland-born Old Overholt, the country’s oldest whiskey brand
After 210 years of continuous production, America’s oldest whiskey brand — Westmoreland County-born Old Overholt — is undergoing a transformation. It’s part of a planned, long-range evolution to raise the iconic rye spirit from its customary, lower-shelf position alongside chums with names like Evan and Ezra to a top-shelf pantheon...
Senate investigators fault FAA over Boeing jet, safety
Boeing improperly influenced a test designed to see how quickly pilots could respond to malfunctions on the Boeing 737 Max, and Federal Aviation Administration officials may have obstructed a review of two deadly crashes involving the plane, Senate investigators say. In a report released Friday, the Senate Commerce Committee also...
