Business category, Page 232
Putin chastises Russian tycoon over massive Arctic oil spillVideo
MOSCOW — Russian President Vladimir Putin on Friday chastised the billionaire owner of a nickel giant for negligence over a massive fuel oil spill that has inflicted huge damage on a fragile Arctic region. An estimated 20,000 tons of diesel oil spilled into the Ambarnaya River last Friday from a...
Unemployment rate falls to 13.3%, with 2.5 million jobs addedVideo
WASHINGTON — The U.S. unemployment rate fell unexpectedly in May to 13.3% — still on par with what the nation witnessed during the Great Depression — as states loosened their coronavirus lockdowns and businesses began recalling workers. The government said Friday that the economy added 2.5 million jobs last month,...
China easing airline access amid conflict with WashingtonVideo
BEIJING — Chinese regulators said Thursday more foreign airlines will be allowed to fly to China as anti-coronavirus controls ease, but it was unclear whether the change will defuse a fresh conflict with the Trump administration over air travel. The announcement came after Washington said Wednesday it would bar four...
82-year-old ‘Gamer Grandma’ takes YouTube break over commentsVideo
At 82, Shirley Curry doesn’t fit the mold. It’s endeared her to some online. For others, it’s made her a target. Curry of Rocky Mount, Va., was born the same year as the invention of what’s been hailed as the first programmable computer. Eight decades later, she shares with thousands...
Walmart drops ammunition, firearms on display in some stores
NEW YORK — Walmart says it has removed ammunition and firearms from displays at some of its stores in the wake of the killing of George Floyd that has set off sometimes violent demonstrations against police brutality and injustice against African Americans. “As a responsible seller of hunting and sporting...
Pilgrim’s Pride CEO among indicted for chicken price fixing
The CEO of Pilgrim’s Pride is one of four current and former chicken company executives indicted Wednesday on charges of price-fixing. The U.S. Department of Justice said a federal grand jury in Colorado found that executives from Colorado-based Pilgrim’s Pride and Georgia-based Claxton Poultry conspired to fix prices and rig...
U.S. job losses in May could raise 3-month total to 30 million
The epic damage to America’s job market from the viral outbreak will come into sharper focus Friday when the government releases the May employment report: Eight million more jobs are estimated to have been lost. Unemployment could near 20%. And potentially fewer than half of all adults may be working....
AMC Theatres warns of ‘substantial doubt’ about its future
The AMC Theatres chain says it has “substantial doubt” it will be able to remain in business after closing all of its locations during the coronavirus pandemic. In the first quarter ending March 31, AMC reported revenue of $941.5 million, down from $1.2 billion in the same quarter last year....
Wall Street’s rally rolls into Day 4 on reopening hopes
Stocks are rising again Wednesday on optimism that the economy can climb out of its current hole more quickly than earlier feared. The S&P 500 was up 1.1% in midday trading, heading for its fourth straight gain as lockdowns loosen around the world and raise hopes for a coming economic...
Trump administration moves to block Chinese airlines from U.S.Video
WASHINGTON — The Trump administration moved Wednesday to block Chinese airlines from flying to the United States in an escalation of trade and travel tensions between the two countries. The Transportation Department said it would suspend passenger flights of four Chinese airlines to and from the United States starting June...
Stocks extend gains on Wall Street to a 3rd straight day
Stocks closed broadly higher on Wall Street on Tuesday, extending the market’s winning streak to a third day. The latest gains, which followed a rally in global stocks, were driven by optimism that the global economy will begin to recover as governments gradually allow businesses that were closed due to...
Pittsburgh area jobless rate jumps to 16.8% in April
The Pittsburgh region’s jobless rate jumped to 16.8% in April, with 200,400 people unemployed in the seven-country region as pandemic-related shutdowns gripped the economy. The combined unemployment rate for Allegheny, Armstrong, Beaver, Butler, Fayette, Washington and Westmoreland counties was the highest since January 1983, the state’s Center for Workforce Information...
CNN improves ratings while increasingly turning lens on itself
Since becoming the first 24-hour cable news channel 40 years ago this week, CNN has covered natural disasters, wars and political campaigns. But increasingly it’s become the story itself. Between having one of its reporters arrested while on camera, demonstrators descending on its Atlanta offices, and its anchors clashing with...
SpaceX captures the flag, beating Boeing in cosmic contest
The first astronauts launched by SpaceX declared victory Monday in NASA’s cosmic capture-the-flag game. They quickly claimed the prize left behind at the International Space Station nearly a decade ago by the last crew to launch from the U.S. “Congratulations, SpaceX, you got the flag,” NASA astronaut Doug Hurley said...
Insider buying at Carrier, Greenbrier and Zion
Three CEOs took million-dollar bites of their own cooking in May. At Carrier Global Corp. (CARR), which makes heating and air conditioning equipment, Chief Executive David Gitlin spent just over $1 million to increase his stake. At Greenbrier Companies Inc. (GBX), which manufactures rail cars, a trust connected with CEO...
Black businesses hit hard by coronavirus fight to stay afloat
DETROIT — Stephanie Byrd agonized over temporarily laying off nearly the entire staff at her family’s trio of Detroit businesses when the coronavirus pandemic hit. But she’s not just concerned about the impact on their bottom line. She’s worried other black-owned businesses will struggle to withstand another wave of economic...
Stocks move higher on Wall Street after wobbly startVideo
NEW YORK — Stock indexes edged higher in early trading on Wall Street on Monday as investors balanced cautious optimism about the reopening of businesses shut down because of the coronavirus pandemic against worries that the civil unrest across the U.S. over police brutality could disrupt the economic recovery and...
$349 USB ‘bioshield’ taps into 5G, coronavirus conspiracy fears
Clark Stanley would be proud. The “Rattlesnake King,” a former cowboy, made a splash at the 1893 World’s Exposition in Chicago by cutting open a live snake in front of onlookers as a promotion for “Stanley’s Snake Oil,” a liniment later found to contain no snake oil of any kind,...
How Twitter made its own rules for Trump to break
When Twitter slapped a warning label over President Donald Trump’s tweet Thursday night about riots in Minnesota’s Twin Cities, the company’s official explanation was that the president had violated a rule prohibiting “glorification of violence.” But that justification doesn’t explain why Twitter chose to leave the tweet on the site...
U.S. consumer spending sinks by record 13.6% in face of virusVideo
WASHINGTON — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession. Last month’s spending decline was far worse than the revised 6.9% drop in March, which itself had set a record...
French carmaker Renault to cut 15,000 jobs worldwideVideo
PARIS — French carmaker Renault said Friday it will cut 15,000 jobs worldwide as part of a $2.2 billion cost-cutting plan, as a brutal drop in industry sales during the pandemic worsened the company’s preexisting problems. Renault, which employs 180,000 and is already negotiating a bailout with the French government,...
White House punts economic update as election draws nearVideo
WASHINGTON — The White House took the unusual step on Thursday of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration’s anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was confirmed by...
Airlines increase job cuts as pandemic crushes air travelVideo
Major airlines on both sides of the Atlantic are cutting even more jobs as they struggle to cope with a plunge in air travel that will leave the airline industry much smaller than it was before the coronavirus pandemic and economic collapse. EasyJet said Thursday that it will cut up...
Great Clips sites in Missouri close after virus-related threats
O’FALLON, Mo. — Great Clips has temporarily closed its salons in Springfield, Missouri, after threatening messages that followed news that two hairstylists potentially exposed 140 clients to the coronavirus. Great Clips Inc., which has thousands of franchises in the U.S. and Canada, said in a news release Thursday that its...
Sylvester Stallone trying to unload California vacation home for $3.35MVideo
We’ve all been there. You live in Los Angeles, and that ostentatious vacation home of yours southeast of the city is just a little too much. So you decide, “What the heck? I’ll let it go for $3.35 million. So what if that’s more than a million less than I...
