Business category, Page 242
Stocks drop as recession fears take hold; Dow loses 1,300
NEW YORK —Stocks tumbled more than 5% on Wall Street Wednesday, and the Dow erased virtually all its gains since President Donald Trump’s 2017 inauguration. Even prices for investments seen as safe during downturns fell as the coronavirus outbreak chokes the economy and investors rush to raise cash. Markets have...
Apple brings PC-like trackpad to iPad tablets
Apple’s new iPad brings PC-like trackpad capabilities for the first time, as the company seeks to make its tablet even more like a laptop computer. Apple says the trackpad will offer more precision than fingers in selecting text and switching between apps. Older iPads will also be able to get...
Report: Detroit automakers to shut down factories
DETROIT — Detroit’s three automakers have agreed to close all of their factories because of worker fears about the coronavirus, two people briefed on the matter said Wednesday. Automakers are expected to release details of the closure later in the day. The United Auto Workers union has been pushing for...
Volvo recalls vehicles to fix automatic braking malfunction
DETROIT — Volvo is recalling more than 736,000 vehicles worldwide because the automatic emergency braking system may not detect obstacles and stop the vehicles as designed. The recall covers certain 2019 and 2020 S60, V60, S90L and V90 models. The company says in government documents that a software-hardware incompatibility glitch...
Stocks drop on Wall Street despite promises of coronavirus aid
NEW YORK — Stocks are falling sharply on Wall Street in early trading as fears spread that the coronavirus is causing a global recession. The Dow Jones industrials fell 1,100 points, or 5%, in the first few minutes of trading Wednesday. European markets are also down a similar amount and...
Amazon to stop accepting nonessential products for shipment during coronavirus crisis
In attempt to slow the spreading of the novel coronavirus across the U.S., Amazon will block shipments of nonessential products. The move is in response to a significant increase in orders for necessities, according to Business Insider. Amazon on Tuesday told sellers and vendors that it would accept only shipments...
Bidet sales soar as toilet paper sells out amid coronavirus fears
As cases of the coronavirus continue to climb, nothing feels more surreal than the irrational stockpiling of toilet paper, even though experts tell us it isn’t necessary and manufacturers say there is no shortage. Whether it stems from a herd mentality, reading social media posts about toilet paper fights, or...
U.S. revises passenger safety rules for autonomous vehicles
DETROIT — The U.S. government is coming out with new regulations aimed at changing automotive passenger safety standards that could be barriers to autonomous vehicles. The National Highway Traffic Safety Administration says it’s seeking comment on proposed updated standards to account for vehicles that don’t have manual controls such as...
Stocks jump after Trump promises to ‘go big’ on virus aid
NEW YORK — Stocks rallied Tuesday as President Donald Trump promised he’s “going big” with plans to prop up the staggering economy through the coronavirus outbreak. Besides the White House’s proposal, which could approach $1 trillion, the Federal Reserve also announced its latest emergency move to get markets running more...
As part of $850 billion coronavirus response, Trump wants checks sent to public in 2 weeks
WASHINGTON — President Donald Trump is asking Congress to unleash a torrent of emergency economic aid to help people through the financial pain of the coronavirus crisis, with sizable checks directly to Americans as part of the deal. Trump wants checks out to the public within two weeks, Treasury Secretary...
Fallout from coronavirus: Movie theaters close, airlines cut flying, Walmart limits hours
WASHINGTON — U.S. movie theaters are closing nationwide due to the coronavirus pandemic, turning dark nearly all of the country’s 40,000-plus screens in an unprecedented shutdown. United Airlines will slash 50% of its flying capacity in April and May and warns the cuts could extend into the peak summer travel...
Pittsburgh-based American Eagle closing all stores in U.S., Canada
American Eagle Outfitters has closed all stores in the United States and Canada, citing the most recent government recommendations about the spreading coronavirus. The clothing outlet says it hopes to reopen retail stores on March 27, but it will reevaluate as time goes by. American Eagle had already closed some...
Dollar General devotes first hour to senior shoppers
Dollar General is dedicating the first hour of its daily store operations to senior citizens in response to the coronavirus. The discount retailer with stores in 44 U.S. states said starting Tuesday, it is strongly encouraging younger customers to visit later in the day so seniors can shop early and...
Volkswagen to close Europe plants for two weeks
FRANKFURT, Germany — Volkswagen said Tuesday it would close most of its European plants for two weeks because of uncertainty about demand for cars and supplies of parts amid the virus outbreak. CEO Herbert Diess made the announcement at the start of the company’s annual news conference. The dpa news...
McDonald’s closing dine-in areas at corporate-owned restaurants over coronavirus pandemic
McDonald’s will no longer have dine-in or play areas open on Tuesday at its corporate-owned stores because of the coronavirus pandemic. McDonald’s USA announced Monday that it would serve customers who walk in for takeout, order at the drive-thru or use McDelivery. #McDonalds is closing all dining rooms nationwide. #wfsb...
Gyms, day cares among nonessential businesses closing; banks, repair shops, convenience stores stay openVideo
The Legends of Pittsburgh bustled Monday with hand sanitizer-armed gym rats sweating through one more hard workout before the coronavirus pandemic cut off access to their club indefinitely. Monday marked their last chance to do so for at least the next two weeks. The fitness center anchoring a corner of...
Dow dives 2,997 points on fears coronavirus will cause recession
NEW YORK — The U.S. stock market plunged more than 12% Monday for its worst day in more than three decades as voices from Wall Street to the White House said the coronavirus is likely dragging the economy into a recession. The S&P 500 has plummeted nearly 30% since setting...
Amazon seeks to hire 100,000 to keep up with surge in ordersVideo
NEW YORK — Amazon said Monday that it needs to hire 100,000 people across the United States to keep up with a crush of orders as the coronavirus spreads and keeps more people at home, shopping online. The online retailer said it will also temporarily raise pay by $2 an...
5 Nasdaq stocks for the moment you’re ready to buy
The time for bargain hunting in the virus-afflicted stock market may not have come yet. But it will come. Guessing when we have hit bottom will be an art, not a science. It will be partly a matter of judgment and feel. When you are ready to wade back into...
Automakers dodged parts shortage, but virus poses new threat
DETROIT — When the coronavirus cut off the flow of parts from China in early January, most global automakers were ready: Anticipating such a crisis, they had prepared to tap other suppliers and to conserve parts that they had stored. Now, they face fast-moving new threats that seem beyond their...
All Starbucks in U.S., Canada shift to takeout-only model
All Starbucks locations in the U.S. and Canada will be moving to a “to go” only model as it works to help slow the spread of covid-19, the company announced Sunday night. Seating will be suspended in the coffee shops, but takeout orders will still be accepted through the Starbucks...
Amazon grocery delivery system overloaded Sunday
Surges in demand for online deliveries appeared to throw Amazon’s grocery system into disarray Sunday, causing fear and frustration among delivery drivers. An Amazon spokesperson confirmed that “a systems impact” was limiting the company’s ability to deliver grocery orders from Amazon Fresh and Whole Foods Market. “We’re contacting customers, issuing...
France fines Apple $1.2 billion for anti-competitive acts
PARIS — French regulators fined Apple $1.2 billion on Monday for striking deals to keep prices high, in the biggest-ever such sanction by France’s Competition Authority. The agency said Apple and top re-sellers agreed to align prices with Apple’s own pricing for its iPads and some other products. The deals...
Stocks nosedive on Wall Street, triggering trading halt
NEW YORK — Stocks dropped 8% in the first minutes of trading Monday on Wall Street and triggered another temporary halt to trading as huge swaths of the economy come closer to shutting down, from airlines to restaurants. Emergency actions taken by the Federal Reserve late Sunday to prop up...
Stock futures sink after rate cut, new coronavirus restrictions
NEW YORK — U.S. stock futures fell sharply after the Federal Reserve slashed interest rates and more companies and governments took action over the weekend to shut down European and American society in the face of the growing virus outbreak. Futures for the S&P 500 fell 5% Sunday night and...
