Wire stories category, Page 37
New U.S. tax credit rules narrow the list of eligible EVs
DETROIT — Ten electric or plug-in hybrid vehicles will be eligible for a $7,500 U.S. tax credit, while another seven could get $3,750 under new federal rules that go into effect on Tuesday. But under the Treasury Department rules and other provisions of last year’s Inflation Reduction Act, most of...
New push on U.S.-run free electronic tax-filing system for all
WASHINGTON — It’s that time of year when throngs of taxpayers are buckling down to file their income tax returns before Tuesday’s filing deadline. Many often pay to use software from private companies such as Intuit and H&R Block. Almost one-quarter of Americans wait until the last minute to file...
David’s Bridal could lay off more than 9,000 employees as company explores sale
Pennsylvania-based David’s Bridal, which sells wedding dresses and other clothing and accessories for special occasions, could lay off thousands of people across the country and is exploring a sale of the company. The company filed a WARN (Worker Adjustment and Retraining Notification) notice with the Pennsylvania Department of Labor &...
Wall Street rallies and tech stocks leap as inflation coolsVideo
NEW YORK — A rally Thursday on Wall Street lifted stocks to their highest level in almost two months following the latest sign that inflation continues to cool. The S&P 500 rose 1.3% after a report showed inflation at the wholesale level slowed last month by more than expected. The...
Haven’t filed taxes yet? Don’t panic. Here’s what to know
NEW YORK — The deadline to file your taxes is Tuesday, which is just around the corner. Filing U.S. tax returns — especially for the first time — can seem like a daunting task, but there are steps you can take to make it less stressful. Whether you do your...
Your tax refund could be smaller than last year. Here’s why
NEW YORK — Expecting a tax refund? It could be smaller than last year. And with inflation still high, that money won’t go as far as it did a year ago. The 90 million taxpayers who have filed as of March 31 got refunds that were an average of nearly...
Stocks dip after inflation data, Fed economists’ warningVideo
NEW YORK — Stocks dipped to close an up-and-down Wednesday on Wall Street as a result of the latest update on inflation and the latest warning of a possible recession. The S&P 500 fell 16.99, or 0.4%, to 4,091.95 after drifting between small gains and losses through the day. The...
Cheaper gas and food provide some relief from U.S. inflation
WASHINGTON — U.S. consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled under the weight of surging prices. Yet prices are still rising fast enough to keep the Federal Reserve on track to raise interest rates at least once more,...
Why new grads shouldn’t fear a recession
In 2023 alone, there have been over 118,000 U.S. tech layoffs, according to Crunchbase News, a business publication. That’s in addition to two major bank collapses and two federal rate hikes. The class of 2023 will graduate into this economic upheaval while facing another variable: student loan payments. This can...
EPA pollution limits aim to boost U.S. electric vehicle sales
WASHINGTON — The Biden administration is proposing strict new automobile pollution limits that would require as many as two-thirds of new vehicles sold in the U.S. to be electric by 2032, a nearly tenfold increase over current electric vehicle sales. The proposed regulation, announced Wednesday by the Environmental Protection Agency,...
Buffett says people shouldn’t worry about Berkshire, banks
OMAHA, Neb. — Billionaire Warren Buffett assured investors Wednesday that Berkshire Hathaway will be fine when he’s no longer around to lead the conglomerate. Buffett said shareholders shouldn’t worry about the future of the company after Vice Chairman Greg Abel takes over because he will do a great job and...
Wall Street drifts through muted day ahead of inflation dataVideo
NEW YORK — Wall Street drifted through a muted day of trading Tuesday, with stocks and bonds making modest moves ahead of reports later in the week with the potential to move markets. The S&P 500 had its smallest one-day move in more than a year, slipping 0.17 points, or...
IMF: Prolonged high inflation dims outlook for world economyVideo
WASHINGTON — The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks. That’s the view of the International Monetary Fund, which on Tuesday downgraded its outlook for global economic...
Stocks end mixed on Wall Street amid rate hike expectationsVideo
NEW YORK — Stocks were mixed Monday in their first trading after a report heightened speculation the Federal Reserve may tap the brakes a little harder on financial markets and the economy. The S&P 500 rose 4.09 points, or 0.1%, to 4,109.11. It did not trade on Friday, when data...
Kimberly Palmer: How to protect parents from financial scams
When a scam artist called Cameron Huddleston’s mom to tell her to wire money in order to claim a prize, Huddleston had to intercept the calls. Her mom, who had been diagnosed with Alzheimer’s, was convinced she had to wire the money as soon as possible. “That was a wake-up...
Average 30-year mortgage rate dips as spring season opens
The average long-term U.S. mortgage rate dipped for the fourth straight week, a good sign for potential home buyers and a real estate market that’s been mostly cold since the Federal Reserve began raising interest rates more than a year ago. Mortgage buyer Freddie Mac reported Thursday that the average...
States and companies compete for billions to make hydrogen
As fossil fuel emissions continue warming Earth’s atmosphere, the Biden administration is turning to hydrogen as an energy source for vehicles, manufacturing and generating electricity. It’s offering $8 billion to entice the nation’s industries, engineers and planners to figure out how to produce and deliver clean hydrogen. States and businesses...
IMF head expects less than 3% global economic growth in 2023
WASHINGTON — The International Monetary Fund chief said Thursday the world economy is expected to grow less than 3% this year, down from 3.4% last year, increasing the risk of hunger and poverty globally. Kristalina Georgieva said growth is expected to remain around 3% for the next five years, calling...
NPR objects to ‘state-affiliated media’ label Twitter slapped on account: ‘inaccurate’Video
National Public Radio has been caught up in the Twitter verification-system overhaul and some new company-administered labels that have riled users of the social media platform since Tesla and SpaceX honcho Elon Musk took over the platform last fall. NPR was wrongly labeled Tuesday as “U.S. state-affiliated media” on the...
New Ram electric pickup can go up to 500 miles on a chargeVideo
DETROIT — An electric Ram pickup truck with up to 500 miles of range per charge and a battery-powered people-hauling Kia SUV are among the new vehicles being introduced Wednesday at the New York International Auto Show. The two debuts in New York on Wednesday are among only nine automaker...
UBS confident about Credit Suisse deal despite ‘huge’ risk
GENEVA — The UBS chairman voiced confidence Wednesday that the Swiss bank will succeed in a government-engineered takeover of hobbled rival Credit Suisse, pledging the deal will reduce costs, benefit shareholders and buttress Swiss finance despite “huge” risks in knitting the global lenders together. Speaking to UBS shareholders, Colm Kelleher...
Robotaxis aim to take San Francisco on ride into the future
SAN FRANCISCO — Two trailblazing ride-hailing services are heading toward uncharted territory as they seek regulatory approval to transport passengers around the clock throughout one of the most densely populated U.S. cities in vehicles that will have no one sitting in the driver’s seat. If Cruise, a subsidiary of General...
Student aid startup founder arrested on fraud charges
NEW YORK — The founder of Frank, a student loan assistance startup company that J.P. Morgan Chase acquired for $175 million two years ago, has been arrested on charges that she duped the financial giant by dramatically inflating the number of customers her company had, authorities said Tuesday. Charlie Javice,...
Officials reach deal to restart northern Iraq oil exports
BAGHDAD — Iraq’s central government and officials from the semi-autonomous Kurdish region reached a deal Tuesday to resume oil exports from northern Iraq via a pipeline to Turkey. Iraqi Prime Minister Mohammed Shia al-Sudani and Masrour Barzani, prime minister of the semi-autonomous Kurdish region, announced the deal at a press...
Biden offers $450M for clean energy projects at coal mines
WASHINGTON — President Joe Biden’s administration is making $450 million available for solar farms and other clean energy projects across the country at the site of current or former coal mines, part of his efforts to combat climate change. As many as five projects nationwide will be funded through the...
