Wire stories category, Page 32
Musk says he’s not stepping down as Tesla CEO
Elon Musk on Tuesday dismissed speculation that he might step down as Tesla’s CEO and told the company’s annual shareholders meeting that the electric car and solar panel company would start doing some advertising. “Say it ain’t so,” one shareholder asked Musk about stepping down as Tesla’s leader. “It ain’t...
Ford recalls 310,000 trucks to fix problem with airbags
DETROIT — Ford is recalling more than 310,000 trucks in the U.S. because the driver’s front air bag may not inflate in a crash. The recall covers certain F-250, F-350, F-450, and F-550 Super Duty trucks from the 2016 model year. The company says dust can accumulate in a cable...
IRS moves forward with free e-filing system in pilot program to launch in 2024
NEW YORK — Most taxpayers are interested in filing their taxes directly to the IRS for free, a new report says, and that option will be tested next year. The IRS has spent the past nine months studying whether U.S. taxpayers want to see a free, e-filing system run by...
‘Taco Tuesday’ trademark tiff flares anew between fast food competitors
CHEYENNE, Wyo. — Declaring a mission to liberate “Taco Tuesday” for all, Taco Bell is asking U.S. regulators to force Wyoming-based Taco John’s to abandon its longstanding claim to the trademark. Too many businesses and others refer to “Taco Tuesday” for Taco John’s to be able to have exclusive rights...
Mountain Valley Pipeline gets new permit to build in Appalachian national forest
CHARLESTON, W.Va. — A controversial and long-delayed natural gas pipeline got the green light for construction on national forest land in Virginia and West Virginia after the U.S. Forest Service reissued its approval for a permit, despite past federal appeals court rulings determining developers had “inadequately considered” the project’s environmental...
Federal Appeals Court says Elon Musk must abide by SEC settlement
NEW YORK — Elon Musk cannot back out of a settlement with securities regulators that was reached after his 2018 tweets claiming he had secured funding to take Tesla private caused the electric vehicle maker’s share price to jump and led to a temporary halt in trading, an appeals court...
Wall Street slips as households get more nervous
NEW YORK — Stocks are slipping Friday as a listless week on Wall Street appears to be heading toward a quiet close, even as big worries continue to roil under the surface. The S&P 500 was edging 0.2% lower and on pace for a sixth straight week where it moved...
Average long-term mortgage rate falls to 6.35% this week, lowest level in 5 weeks
LOS ANGELES — The average rate on a long-term U.S. home loan is down to the lowest level in five weeks, welcome news for house hunters facing a market constrained by persistently high prices and a near-historic low number of homes for sale. Mortgage buyer Freddie Mac said Thursday that...
Peloton recalling more than 2 million exercise bikes. Here’s why:
Peloton is recalling more than 2 million of its exercise bikes because the bike’s seat post assembly can break during use, posing fall and injury hazards. The recall includes about 2.2 million of the Peloton Bikes Model PL01. The bikes were sold from January 2018 through May 2023 for about...
Fed’s Tom Barkin: Inflation still ‘stubbornly high’ and isn’t easing fast enough toward 2% targetVideo
Inflation remains “stubbornly high” and is no longer making much progress toward the Federal Reserve’s 2% target, a top Fed official said Wednesday, hours after price data for April were released. In an interview, Tom Barkin, president of the Federal Reserve Bank of Richmond, said he is also seeing some...
Goldman to pay $215 million to end case on underpaying women
Goldman Sachs Group Inc. has agreed to pay $215 million to put an end to a long-running class-action lawsuit that accused the Wall Street giant of systemically underpaying women. The New York-based bank struck the deal with lawyers representing about 2,800 female associates and vice-presidents, according to a joint statement...
Wendy’s turns to AI-powered chatbots for drive-thru orders
Wendy’s will begin testing an artificial intelligence-powered chatbot next month that will talk to customers and take drive-thru orders, becoming the latest fast-food chain to employ the technology. The system, powered by Google Cloud’s AI software, will be as natural as talking to an employee and has the ability to...
Millennial Money: Should I join a class-action lawsuit?
It might have happened to you a few times in past years: You received an email or mail notice inviting you to join a class-action lawsuit, or notifying you that you’ve been automatically included. But being part of such a lawsuit might be intimidating, especially if you need to opt...
Maybe investors shouldn’t worry about Buffett’s successor
OMAHA, Neb. — Many investors worry about the future of Berkshire Hathaway after its legendary CEO Warren Buffett is gone, but most of the conglomerate’s companies have already made the transition to reporting to the man who will eventually replace the 92-year-old. Buffett himself and executives at Berkshire Hathaway companies...
Fed raises key rate but hints it may pause amid bank turmoil
WASHINGTON — The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. But the Fed also signaled that it may now pause its streak of 10 rate hikes, which have made borrowing for consumers...
U.S. job openings dip to 9.6 million, lowest since 2021
WASHINGTON — U.S. job openings fell in March to the lowest level in nearly two years, a sign that the American labor market is cooling in the face of higher interest rates. Employers posted 9.6 million vacancies in March, down from nearly 10 million in February and lowest since April...
Millennial Money: Trusts can aid those with mental illness
More than 50% of Americans will be diagnosed with a mental illness or disorder during their lifetime, according to the Centers for Disease Control and Prevention. Chances are, some of these individuals will be inheriting wealth at some point. If a family member’s mental health issues may interfere with their...
Treasury’s Yellen says U.S. could default as soon as June 1
WASHINGTON — Treasury Secretary Janet Yellen notified Congress on Monday that the U.S. could default on its debt as early as June 1, if legislators do not raise or suspend the nation’s borrowing authority before then and avert what could potentially become a global financial crisis. In a letter to...
FDIC recommends overhauling U.S. insurance deposit system
NEW YORK — The Federal Deposit Insurance Corp. is recommending the U.S. rethink its decades-old policy of insuring up to $250,000 in bank deposits and replace it with an overhaul that would allow regulators to cover higher amounts on a “targeted” basis. The proposed change appears to openly acknowledge that...
First Republic Bank seized, sold in fire sale to JPMorgan
NEW YORK — Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to end the turmoil that has raised questions about the health of...
A key inflation gauge tracked by Fed remained high in March
WASHINGTON — A key index of underlying inflation that is closely followed by the Federal Reserve remained elevated last month, keeping the Fed on track to raise interest rates next week for the 10th time since March of last year. The index, which excludes volatile food and energy costs to...
Europe’s economy barely grows as inflation pinches consumers
FRANKFURT, Germany — The European economy scraped out meager growth in the first three months of the year, barely gaining momentum as stubborn inflation raises the price of groceries and erodes people’s willingness to spend paychecks that are failing to keep pace. Friday’s less-than-stellar increase of 0.1% from the previous...
Twitter changes stoke Russian, Chinese propaganda surge
WASHINGTON — Twitter accounts operated by authoritarian governments in Russia, China and Iran are benefiting from recent changes at the social media company, researchers said this week, making it easier for them to attract new followers and broadcast propaganda and disinformation to a larger audience. The platform is no longer...
No one is driving this taxi. What possibly could go wrong?
SAN FRANCISCO — I won’t forget the first time I took a ride in a car without anyone sitting in the driver’s seat. It happened one night last September when a Chevy Bolt named Peaches picked me up outside a San Francisco bar. Our ensuing half-hour ride together produced, at...
Bud Light fumbles, but experts say inclusive ads will stay
Bud Light may have fumbled its attempt to broaden its customer base by partnering with a transgender influencer. But experts say inclusive marketing is simply good business — and it’s here to stay. “A few years from now, we will look back on this ‘controversy’ with the same embarrassment that...
