Business category, Page 215
Michigan governor seeks shutdown of Great Lakes oil pipeline
TRAVERSE CITY, Mich. — Michigan Gov. Gretchen Whitmer took legal action Friday to shut down a pipeline that carries oil beneath a channel linking two of the Great Lakes. Whitmer’s office notified Canadian company Enbridge Inc. that it was revoking an easement granted 67 years ago to extend a roughly...
For business owners with covid, virus is one of many struggles
NEW YORK — When Chris Hyland caught the coronavirus, his ordeal went beyond being sick and exhausted: He couldn’t help his business partners manage the virus’s impact on their company just as the outbreak was sweeping across the world. Hyland and his wife and children became ill in early March....
Top CEOs met to plan response to Trump’s election denial
WASHINGTON — Only a few of America’s CEOs have made public statements about President Donald Trump’s refusal to accept his election loss, but in private, many are alarmed and talking about what collective action would be necessary if they see an imminent threat to democracy. On Nov. 6, more than...
S&P 500 closes at a record high, ending another banner week
The S&P 500 is closing at a record high for the first time since September, posting its second weekly gain in a row. The index rose 1.4% Friday, bringing its for November to 9.6%. Hopeful news this week on progress toward a coronavirus vaccine prompted investors to plow money into...
To help economy, bank proposes tax on working from home
LONDON — White collar staff reaping the financial benefits of working from home should be taxed to help other workers who aren’t getting the same advantages, experts at Deutsche Bank said in a new report. In its report on how to rebuild the economy after covid-19, the bank proposed a...
Wall Street scuffles as worsening pandemic slows its rally
NEW YORK — U.S. stocks are scuffling in early trading on Thursday amid worries about worsening coronavirus counts across the country. The S&P 500 was 0.4% lower, a rare stumble after climbing at least 0.8% in six of the last eight days. The Dow Jones Industrial Average was down 199...
TikTok asks court to intervene as Trump order looms
The popular video-sharing app TikTok, its future in limbo since President Donald Trump tried to shut it down earlier this fall, is asking a federal court to intervene. TikTok’s Chinese owner, ByteDance, has until Thursday to sell off its U.S. operations under an executive order that Trump signed in August....
Bidenomics: More stimulus, tougher regulation and gridlock
WASHINGTON — President-elect Joe Biden will inherit a vulnerable economic recovery under threat from a resurgent virus, likely with a divided Congress that will hinder his ability to address the challenges. Yet despite the obstacles, the former vice president and senator will pursue a drastic shift in America’s economic policy....
Rally fades on Wall Street, pulling indexes below records
NEW YORK — Stocks closed mostly higher on Wednesday, helped by big technology stocks, but news of tighter restrictions in New York State helped dent an earlier rally. The S&P 500 closed up 27.13 points, or 0.8%, to 3,572.66. The benchmark index is now just 8 points below the record...
Cadillacs probed for suspension failure that caused crashes
DETROIT — The U.S. government’s road safety agency is investigating complaints that the rear suspensions on some older Cadillac SUVs can fail, causing drivers to lose control and possibly crash. The probe by the National Highway Traffic Safety Administration covers about 344,000 Cadillac SRX SUVs from the 2010 through 2015...
Apple unveils first Macs built to run more like iPhonesVideo
SAN RAMON, Calif. — Apple is rolling out new Mac computers powered by the same kind of chips that run iPhones and iPads, a move aimed at making it easier for its most popular products to work together. For instance, Macs using the new chips will be able to run...
U.S. bankruptcy court approves sale of J.C. Penney
NEW YORK — J.C. Penney is on course to emerge from bankruptcy by Thanksgiving, after a U.S. bankruptcy court approved the sale of the ailing 118-year-old retailer to its two largest landlords and its primary lenders. The U.S. Bankruptcy Court for the Southern District of Texas approved a purchase agreement,...
Walmart teams with GM to test autonomous deliveries
Walmart is teaming up with the General Motors’ autonomous vehicle unit to test driverless delivery in Arizona. The companies say battery powered Chevrolet Volt vehicles will begin deliveries in Scottsdale early next year. At first they’ll have human backup drivers who will monitor the cars and help to deliver packages...
EU to buy up to 300 million doses of Pfizer-BioNTech vaccine
BRUSSELS — The European Commission will sign a deal to secure up to 300 million doses of the experimental coronavirus vaccine developed by BioNTech and Pfizer. Ursula von der Leyen, the president of the EU’s executive arm, said the commission will authorize the deal on Wednesday after “working tirelessly to...
EU puts tariffs on U.S. but hopes for change with Biden
BRUSSELS — The European Union said Monday it would impose tariffs on up to $4 billion worth of U.S. goods and services over illegal aid for plane maker Boeing — but expressed hope that trade ties would improve once President Donald Trump leaves office. European trade ministers agreed on the...
Global rally fades, but investors’ hopes remain for economy
NEW YORK — Stocks downshifted on Tuesday, a day after their powerful worldwide rally, but optimism remained high that the global economy may still be headed for a return to normal. It was the second straight day that rising hopes for a covid-19 vaccine pushed investors to reorder which stocks...
Sheetz offers free meal, car wash on Veterans Day
In honor of those who have served and are currently serving our country, Sheetz wants to pay its respect. On Wednesday — Veterans Day — all Sheetz locations will offer a free meal and car wash to veterans and active duty military personnel. “Sheetz, a family owned and operated restaurant...
EU files antitrust charges against Amazon over use of data
LONDON — European Union regulators filed antitrust charges Tuesday against Amazon, accusing the e-commerce giant of using its access to data to gain an unfair advantage over merchants using its platform. The EU’s executive Commission, the bloc’s top antitrust enforcer, issued the charges after it started looking into the company...
Ulta to open beauty shops at 100 Target stores in 2021
NEW YORK — The nation’s largest beauty store chain, Ulta Beauty, has a deal to place shops in more than 100 Target stores by mid-2021. The shops, which will each be about 1,000 square feet and carry makeup, skincare, and fragrance, will operate beside existing beauty sections in Target stores,...
Ford adding 350 jobs at 2 plants to make electric vehicles
DETROIT — Ford plans to add 350 jobs at two factories to meet expected demand for electric vehicles that haven’t gone on sale yet. The automaker says it will add 150 workers at its Kansas City Assembly Plant in Claycomo, Mo., to build the new E-Transit full-size van that will...
John Dorfman: Selling below book value: Photronics, 3 other stocks
Critics maintain that book value is an unreliable number, for various reasons. The reason cited most often is that it “distorts” book value when a company buys back its own stock. Buybacks are good, they say, yet they often paradoxically lower book value. I see no distortion here. Money spent...
General Motors to add 3,000 tech jobs to develop vehicles and software
DETROIT — General Motors says it will hire 3,000 more technical workers by early next year to help with virtual product testing and to develop software as a service. The automaker says it will offer more remote work opportunities to develop electric and autonomous vehicles. GM wants to hire electrical...
Updated menu, celeb collaborations, pump McDonald’s sales
McDonald’s U.S. sales roared back in the third quarter with new menu items and attention-grabbing celebrity collaborations. And the burger giant says more is coming. In a virtual meeting for investors Monday, McDonald’s said a much-anticipated crispy chicken sandwich with pickles — an answer to competitors like Popeye’s and Chick-fil-A...
Stocks rally worldwide with hopes for a return to ‘normal’
NEW YORK — Brimming hopes that people will again return to office buildings, shopping centers and normal life sent markets rallying worldwide on Monday, following encouraging data about a potential coronavirus vaccine. The S&P 500 rose 41.06, or 1.2%, to 3,550.50 after Pfizer said an early peek at its vaccine...
Updated menu, celeb collaborations, pump McDonald’s sales
McDonald’s U.S. sales roared back in the third quarter on new menu items and attention-grabbing celebrity collaborations. With new choices like spicy chicken nuggets and a meal deal promotion with rapper Travis Scott, McDonald’s exceeded most projections for the quarter. It wasn’t the same story outside of the U.S., where...
