Business category, Page 254
U.S. home sales rose 1.9% in October, lifted by lower rates
WASHINGTON — Americans took advantage of lower mortgage rates and purchased more homes in October, though sales were held back by a shortage of available properties. The National Association of Realtors said Thursday that sales of existing homes rose 1.9% last month to a seasonally adjusted annual rate of 5.46...
GM sues Fiat Chrysler over union bribes
DETROIT — General Motors is suing Fiat Chrysler, alleging that its crosstown rival got an unfair business advantage by bribing officials of the United Auto Workers union. The lawsuit, filed Wednesday in U.S. District Court in Detroit, alleges that FCA was involved in racketeering by paying millions in bribes to...
New Belgium Brewing sold to international beverage company
FORT COLLINS, Colo. — The Colorado brewery responsible for making Fat Tire beer, among many others, is being sold to an international beverage company after nearly 30 years in business, officials said. New Belgium Brewing Co. in Fort Collins is being sold to Lion Little World Beverages, The Coloradoan reports....
Nerf gun, Power Rangers claw among latest unsafe toys, watchdog says
BOSTON — A Nerf dart gun, ice cream-scented Nickelodeon slime and a plastic Power Rangers claw are among the toys topping a consumer safety group’s list of worst toys for the holidays. World Against Toys Causing Harm unveiled its annual list Tuesday at a Boston children’s hospital. A realistic toy...
GateHouse, Gannett join, become largest U.S. newspaper chain
NEW YORK — GateHouse has closed its $1.1 billion takeover of Gannett, promising a $300 million cut in annual costs as it becomes the country’s largest newspaper company by far at a time when print publications are in precipitous decline. The new company keeps the Gannett name and brings about...
These stocks could bounce high in January and beyond
Energy stocks, and to a lesser extent bank stocks, have been the market’s whipping boys in 2019. Now they are being punished anew, as investors sell shares to establish tax losses. In the fall frenzy of tax-loss selling, certain stocks are often pushed below their intrinsic value, and that is...
Chick-fil-A no longer funding Salvation Army, Fellowship of Christian Athletes
Atlanta-based Chick-Fil-A has stopped donating to The Salvation Army and the Fellowship of Christian Athletes, two organizations that have come under fire from LGBTQ activists. The company told the Thomson Reuters Foundation it has stopped donating to the organizations on Monday, according to CNBC. “We made multiyear commitments to both...
This is what the trade war looks like in bourbon country
ATLANTA — After Europe retaliated with tariffs on Kentucky bourbon in response to President Donald Trump’s trade war, the James E. Pepper distillery in Lexington so far this year has suffered a more than 20% sales decline internationally. “We’re collateral damage,” said Amir Peay, the 42-year-old owner. While tensions may...
HP rejects takeover offer from Xerox
HP Inc. says its board has rejected a roughly $33.5 billion takeover offer from Xerox. The Palo Alto, Calif.-based company said Sunday that the cash and stock deal undervalues its business and its board cited concerns about “outsized” debt levels should the companies combine. HP, which makes computers and printers,...
Experts speculate on Amazon’s approach to future grocery stores — a new format, lots of automation?
As Amazon readies its grocery chain, analysts and competitors are trying to predict how the commerce giant will make what many expect to be a major move into the biggest category of retail spending. Picture a grocery store with a miniature version of a highly automated fulfillment center on an...
Twitter details political ads ban, issue ads allowed
Twitter says its new ban on political ads will cover appeals for votes, solicitations for campaign contributions and any political content. Twitter is defining political content to include any ad that references a candidate, political party, government official, ballot measure, or legislative or judicial outcome. The ban also applies to...
GE to close Georgia plant, move work to Charleroi, Pa.
An eastern Georgia industrial plant will close by the end of 2020, laying off up to 200 workers. General Electric Co. tells local media it will close its high-voltage electrical switchgear plant in Waynesboro, consolidating work to a similar plant in Charleroi, Pennsylvania. The company’s renewable energy unit blames the...
Amazon appeals $10B Pentagon contract won by Microsoft
SAN FRANCISCO — Amazon is protesting the Pentagon’s decision to award a $10 billion cloud-computing contract to Microsoft, citing “unmistakable bias” in the process. Amazon’s competitive bid for the “war cloud” project drew criticism from President Donald Trump and its business rivals. The project, formally called the Joint Enterprise Defense...
Cold snap may be your signal to get new tires for winter
DETROIT — With the eastern two-thirds of the U.S. shivering through an early blast of arctic air, it’s time to start thinking about whether your car’s tires will get you safely through the winter. Italian tiremaker Pirelli recently started a campaign telling people that winter tires aren’t just for climates...
Sizing up the 2019 holiday shopping season for retailers
NEW YORK — With two weeks until the official start of the holiday shopping season, the nation’s retailers are gearing up for what should be another brutally competitive shopping period. The good news? Many retail CEOs say the U.S. consumer is financially healthy given the economy remains strong and the...
Study: Water onboard most U.S. airlines is unsafe, refrain from washing hands
Do you opt drink coffee or hot tea while flying the friendly skies? Well, you might want to reconsider that. According to a recent study highlighted by People.com, many of the U.S.’s top airlines are not providing safe drinking water. The 2019 Airline Water Study, which was conducted by DietDetective.com...
Disney Plus hits 10 million subscribers in 1 dayVideo
NEW YORK — Disney Plus says it hit more than 10 million sign-ups on its first day of launch, far exceeding expectations. Disney’s mix of Marvel and Star Wars movies and shows, classic animated films and new series appears to be a hit out of the gate after its launch...
Trade war puts cork in wine sales to China
LIVERMORE, Calif. — Caught in the crossfire of President Trump’s trade war with China, U.S. vineyards are struggling to sell Syrah in Shanghai and Chardonnay in Shenzhen. They risk losing their foothold in one of the world’s fastest-growing wine markets. The 16-month dispute between the world’s two biggest economies has...
Costco warns customers $75 ‘coupon’ is a scam
Usually when something seems too good to be true … You know how the rest of the saying goes, and Costco is here to warn its customers just that. The wholesale company posted Tuesday on Facebook that they are “NOT giving away $75 coupons. “While we love our fans and...
Fed’s Powell sees steady growth, signals pause in rate cutsVideo
WASHINGTON — Federal Reserve Chairman Jerome Powell expects the U.S. economy to continue growing at a solid pace, though it still faces risks from slower growth overseas and trade tensions. Powell also said the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless...
No. 1 milk company Dean Foods declares bankruptcy amid drop in demand
Got milk? Increasingly, Americans don’t, and that led the nation’s biggest milk producer to file for bankruptcy Tuesday. Dean Foods blamed a decadeslong drop in milk consumption that has seen people turn to alternatives such as soda, juice and almond milk. The Dallas company said it may sell itself to...
Met Life, Oasis Petroleum selling below book value
What do Met Life, Kelly Services and Oasis Petroleum have in common? Each is selling below book value. Book value is a company’s net worth (assets minus liabilities), usually expressed as a figure per share of stock outstanding. Buying stocks below book value is a classic bargain hunters’ strategy. Here...
Group says misinformation on the rise on Facebook
SAN FRANCISCO — An advocacy group tracking misinformation says it has found an increase in fake political news shared on Facebook ahead of the 2020 presidential elections. The group, Avaaz, said Wednesday that misinformation is still being spread on Facebook despite measures the company has put in place since the...
FAA considering grounding Southwest jets over safety checks
DALLAS — Federal regulators have threatened to ground dozens of Southwest Airlines jets if the airline can’t confirm that the planes, which it bought used from foreign operators, meet all safety standards. The Federal Aviation Administration said Monday it has validated some major repairs to the planes, and it’s asking...
Ford electric vehicle chief sees more products, sales growth
DEARBORN, Mich. — So far, electric vehicles haven’t been accepted in the United States, with fewer than 1.5% of new-vehicle buyers choosing them over internal combustion engines. That surely will change as more manufacturers offer vehicles with longer range and fast-charging networks keep growing. Ford Motor Co., General Motors Co.,...
