Business category, Page 214

GM flips to California’s side in pollution fight with Trump

DETROIT — General Motors says it will no longer support the Trump administration in legal efforts to end California’s right to set its own clean-air standards. CEO Mary Barra said in an letter Monday to environmental groups that GM will pull out of the lawsuit, and it urges other automakers...
Employers start sending workers shopping for health coverage

Instead of offering one or more options, some companies are turning health insurance shopping over to employees. A federal rule change last year stoked this new approach. It allows employers to reimburse workers for coverage they bought without paying a tax penalty. The concept sends employees to individual insurance markets...
GM to recall 7M vehicles globally to replace Takata air bags

General Motors will recall about 7 million big pickup trucks and SUVs worldwide to replace potentially dangerous Takata air bag inflators. The move came Monday after the U.S. government told the automaker it had to recall 6 million of the vehicles in the U.S. The recall will cost the Detroit...
Stocks rise on Wall Street on latest hopes for coronavirus vaccine

Stocks closed higher on Wall Street on Monday after investors received several pieces of encouraging news on covid-19 vaccines and treatments, tempering concerns over rising virus cases and business restrictions. The benchmark S&P 500 index rose 0.6%, led by banks, industrial companies and other businesses that have been beaten down...
Business owners upbeat about vaccine, wary as virus spreads

NEW YORK — Promising news about a coronavirus vaccine has small business owners feeling more upbeat despite cases of the virus surging in many parts of the U.S. Owners hope consumers and businesses will be more relaxed about spending now that two drug companies, Pfizer and Moderna, have vaccines that...
Wall Street slips amid worries about worsening pandemic

Stocks ended an up-and-down week on a down note on Wall Street Friday, taking 0.7% off the S&P 500. The benchmark index logged its first weekly loss so far this month. Worries about the worsening pandemic and the restrictions it’s bringing are outweighing optimism about the progress being made on...
France postpones its Black Friday to help locked-down shops

PARIS — France’s government on Friday got supermarket chains and e-commerce platforms like Amazon to agree to postpone Black Friday promotions, responding to concerns that shops shuttered by the nation’s coronavirus lockdown are hemorrhaging business and could be hurt further if they miss out on the consumer splurge. Under the...
Mnuchin denies trying to hinder incoming administration

WASHINGTON — Treasury Secretary Steven Mnuchin denied that he is attempting to limit the choices President-elect Joe Biden will have to promote an economic recovery by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said his decision was based on the fact that the programs were...
Pfizer, BioNTech seek emergency use of covid-19 vaccine in U.S.

Pfizer formally asked U.S. regulators Friday to allow emergency use of its COVID-19 vaccine, starting the clock on a process that could bring limited first shots as early as next month and eventually an end to the pandemic — but not until after a long, hard winter. The action comes...
GM: New batteries cut electric car costs, increase range

DETROIT — General Motors says a pending breakthrough in battery chemistry will cut the price of its electric vehicles so they equal those powered by gasoline within five years. The technology also will increase the range per charge to as much as 450 miles. The company’s product development chief promised...
Tyson suspends Iowa plant managers amid virus betting claim

IOWA CITY, Iowa — Tyson Foods suspended top officials at its largest pork plant on Thursday and launched an investigation into allegations that they bet on how many workers would get infected during a widespread coronavirus outbreak. The company’s president and CEO, Dean Banks, said he was “extremely upset” about...
GM says new batteries cut electric car costs, increase range

DETROIT — General Motors says a pending breakthrough in battery chemistry will cut the price of its electric vehicles so they equal those powered by gasoline within five years. The technology also will increase the range per charge to as much as 450 miles. The company’s product development chief promised...
Stocks rise amid investors’ tug of war between hope, fear

NEW YORK — Wall Street capped a day of choppy trading with modest gains for stocks Thursday, as the market’s tug of war continues between worries about the worsening pandemic in the present and optimism that a vaccine will rescue the economy in the future. The S&P 500 rose 0.4%...
U.S. jobless claims increase to 742,00 as pandemic worsens

WASHINGTON — The number of Americans seeking unemployment aid rose last week to 742,000, the first increase in five weeks and a sign that the resurgent viral outbreak is likely slowing the economy and forcing more companies to cut jobs. The Labor Department’s report Thursday showed that applications for benefits...
FAA clears Boeing 737 Max to fly again

After nearly two years and a pair of deadly crashes, U.S. Federal Aviation Administration is clearing Boeing’s 737 Max for flight. The nation’s air safety agency announced the move early Wednesday, saying it was done after a comprehensive and methodical 20-month review process. Regulators around the world grounded the Max...
Watch for a January bounce in Intel and four other stocks

Kicking someone while they’re down is unsportsmanlike. But it happens every year in the stock market. In November and December, investors often pummel the stocks that have declined in the first 10 months of the year. Why? For tax reasons. Investors sell their losers to establish tax losses, which are...

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