Business category, Page 260
U.S. economy could shrug off oil prices if disruption is brief
DALLAS — The price of gasoline crept higher after a weekend attack devastated Saudi Arabian oil output, but if the disruption to global supplies is short-lived, the impact on the U.S. economy will probably be modest. Prices spiked Monday by more than 14%, their biggest single-day jump in years, but...
WeWork delays its IPO amid tepid investor interest
NEW YORK — WeWork’s parent company put its stock market debut on the backburner Tuesday, struggling to drum up investor enthusiasm for a fast-growing enterprise that spread trendy communal office spaces across the globe while piling up massive losses and drawing concerns about its CEO’s corporate governance practices. The We...
Apple awards $250 million to supplier of glass for iPhones
FRANKFORT, Ky. — Apple has deepened its ties with a Kentucky manufacturing plant by awarding $250 million to support continued work to develop glass for iPhones and other devices. The award builds on the $200 million that Corning Inc. received from Apple’s Advanced Manufacturing Fund in 2017. Apple says the...
Kraft Heinz shares fall after key investor dumps holdings
NEW YORK — Kraft Heinz Co. shares are sliding after one of the company’s top investors sold 25 million shares. 3G Capital — a Brazilian private equity firm — reduced its stake in the company by 9%. 3G remains the company’s second-largest shareholder. 3G partnered with Berkshire Hathaway Inc. to...
NBC’s Peacock streaming service to launch in April
NEW YORK — Comcast’s NBCUniversal said Tuesday that its upcoming streaming service will be called Peacock, in an homage to NBC’s logo. It will become the home for some of the company’s most popular shows, including “Parks and Recreation” and “The Office.” That means both will be leaving Netflix, although...
American Airlines made a record $350 million for bags in 2nd quarter
DALLAS — American Airlines made more than $350 million by charging baggage fees between April and June, blowing past records after raising rates a year ago. U.S. airlines combined charged $1.5 billion for baggage in the three-month period, despite hundreds of cancellations because of the grounding of the Boeing 737...
Agency considering Three Mile Island nuclear debris in Idaho
BOISE, Idaho — The partially melted reactor core from the worst nuclear accident in U.S. history could remain in Idaho for another 20 years if regulators finalize a license extension sought by the Energy Department, officials said Monday. The core from Three Mile Island in Pennsylvania partially melted in 1979,...
John Dorfman: Retired farmer wins big in short-selling contest
Lloyd Dawson, a retired farmer from LaVista, Neb., beat a strong field to win my 16th annual “Short Sellers Don’t Have Horns” short-selling contest. Short selling is a technique for profiting from a stock’s decline. It is difficult since the market rises more often than it falls. It is also...
Walmart offering $30 gift cards for old child car seats
Have your kids outgrown their car seats? Walmart is offering $30 for old car seats. Walmart is teaming up with TerraCycle for a car seat recycling event in nearly all stores across the country. The event kicked off on Monday and goes to Sept. 30 to mark National Baby Safety...
UAW official: GM’s offer came too late to avoid strike
DETROIT — A strike by over 49,000 United Auto workers against General Motors could have been averted had the company made its latest offer sooner, the union’s top negotiator said in a letter to the company. In the letter dated Sunday, UAW Vice President Terry Dittes told GM’s labor relations...
Ohio receives $17.8 million to study self-driving vehicles
COLUMBUS, Ohio — Ohio has received $17.8 million to generate data on self-driving vehicles, an area of research in which the state is already playing a prominent role, according to the state’s U.S. senators. Democratic Sen. Sherrod Brown and Republican Sen. Rob Portman said the grant, announced this week, will...
Purdue Pharma files for bankruptcy as part of settlement
OxyContin maker Purdue Pharma and its owners expressed sympathy but not responsibility for the nation’s opioid crisis as the company filed for bankruptcy protection late Sunday night, part of a move to settle some 2,600 lawsuits — most from state and local governments. “Like families across America, we have deep...
Rise in health uninsured may be linked to immigrants’ fears
WASHINGTON — When the Census Bureau reported an increase in the number of people without health insurance in America, it sent political partisans reaching for talking points on the Obama-era health law and its travails. But the new numbers suggest that fears of the Trump administration’s immigration crackdown may be...
UAW says its 49K members at GM plants will go on strike
DETROIT — Roughly 49,000 workers at General Motors plants in the United States plan to go on strike just before midnight Sunday, but talks between the United Auto Workers and the automaker will resume. About 200 plant-level union leaders voted unanimously in favor of a walkout during a meeting Sunday...
U.S. retail sales rise moderately as auto buying jumps
WASHINGTON — U.S. retail sales rose moderately in August, driven higher by a jump in auto buying and healthy online sales, evidence that consumers are still spending enough to support growth. The Commerce Department said Friday that retail sales increased 0.4% last month, down from a strong 0.8% in July....
U.S., China exchange goodwill gesture ahead of trade talks
WASHINGTON — The United States and China traded conciliatory gestures, raising hopes they can de-escalate a standoff over trade that has shaken financial markets and cast gloom over the global economy. In Beijing, China’s Commerce Ministry said Thursday that Chinese importers are asking U.S. suppliers for prices of soybeans, pork...
U.S. consumer prices up slight 0.1% in August
WASHINGTON (AP) — Consumer prices slowed in August, rising by a slight 0.1%, reflecting a big drop in the cost of gasoline and other energy products. The tiny increase in the consumer price index followed a much bigger 0.3% rise in July which had been driven by a jump in...
Judge: StarKist to pay $100M fine in tuna price-fixing case
SAN FRANCISCO — A federal judge in San Francisco has ordered StarKist Co. to pay a $100 million fine in a canned tuna price-fixing conspiracy involving three companies. The Pittsburgh-based company had asked U.S. District Court Judge Edward Chen to reduce the fine to $50 million, arguing a $100 million...
GM recalls over 3.4M pickups, SUVs to fix brake issues
DETROIT — Under pressure from the federal government, General Motors is recalling more than 3.4 million big pickup trucks and SUVs in the United States to fix a brake problem. The recall covers the Chevrolet Silverado and GMC Sierra 1500, 2500 and 3500 pickups from the 2014 through 2018 model...
Report: Uber sacks hundreds of workers from engineering and product units
SAN JOSE, Calif. — San Francisco ride-hailing giant Uber has laid off 435 workers from its engineering and product units as it seeks to create “lean” teams, according to a new report. The company, which last month announced a $5 billion loss for this year’s second quarter, has shown the...
Apple unveils a cheaper iPhone and pricing for streaming TV
CUPERTINO, Calif. – Apple unveiled new iPhones that are largely unchanged from previous models and accompanied by an unexpected price cut for the cheapest model, underscoring the company’s efforts to counteract a sales slump of its flagship product. The company’s new models are so similar to last year’s lineup they...
New Hampshire’s Republican governor signs bill banning oil, gas drilling
RYE, N.H. — New Hampshire Gov. Chris Sununu has signed a bill prohibiting offshore oil and gas drilling in the state’s coastal waters. Sununu, a Republican, has opposed President Donald Trump’s proposal to expand oil and gas development nationwide. In signing the bill Tuesday, Sununu said the administration has assured...
Charging Bull’s creator will oversee repairs after vandal’s attack
NEW YORK — The artist who created New York’s Charging Bull sculpture will oversee repairs to the gash left when a vandal attacked the bronze statue with an imitation banjo, the head of a business group said Tuesday. Artist Arturo Di Modica will travel from his studio in Sicily at...
With little change, iPhones may get upstaged by Apple streaming
CUPERTINO, Calif. — Apple is expected to unveil three new iPhone models that are so similar to last year’s lineup, they may be upstaged by details about the company’s upcoming video service. The company will show off its latest iPhones Tuesday at a products showcase in Cupertino, California. But the...
British Airways grounds nearly all flights as pilots strike
LONDON — British Airways says it has had to cancel almost all flights as a result of a pilots’ 48-hour strike over pay. In a statement Monday, the airline said it had “no way of predicting how many (pilots) would come to work or which aircraft they are qualified to...
