Wire stories category, Page 85

Gap to move away from the mall

Gap is moving away from the nation’s malls. The retailer, which was for decades a fixture at shopping malls around the country, said that it will be closing 220 stores — or one-third of its store base — by early 2024. That will result in 80% of its remaining Gap...
Here’s how hydrogen fuel could revolutionize airlines

Environmentally conscious travelers are in a quandary. Global airline travel has grown over the decades, and so have the industry’s carbon emissions. Not everyone has the time to use more eco-friendly travel methods, such as Swedish climate activist Greta Thunberg’s famous two-week voyage last year across the Atlantic Ocean on...
Google antitrust lawsuit: 5 key takeaways

WASHINGTON — The lawsuit filed by the Justice Department against Google on Tuesday marks the first major antitrust enforcement case against a technology company since a case against Microsoft began in 1998 and ended in a settlement with the government in 2002. The Justice Department is accusing Google of using...
After explosive growth at Square, Chase launches own version

NEW YORK — After watching the explosive growth at electronic payment start-ups like Jack Dorsey’s Square, JPMorgan Chase has launched its own version to lure small business owners increasingly relying on technology during the pandemic. Chase Business Complete Banking with QuickAccept will allow businesses to process card payments almost instantly...
Stocks slip on Wall Street as virus aid deal remains elusive

Stocks are closing lower on Wall Street as negotiations continue to drag on in Washington over delivering more aid for the economy. The S&P 500 lost 0.2% Wednesday after spending much of the day wobbling between gains and losses. House Speaker Nancy Pelosi said she’s made progress with the White...
An electric Hummer? Battery-powered trucks head to showrooms

DETROIT — Seven auto companies have plans to roll out new battery-powered pickup trucks over the next two years, aiming to cash in on a popular and lucrative market for expensive vehicles. General Motors is among them, and on Tuesday its GMC brand introduced a new electric Hummer pickup, with...
Tennessee factory to become GM’s 3rd electric vehicle plant

General Motors plans to spend $2 billion to convert its Spring Hill, Tennessee, assembly plant into a third U.S. site to build future electric vehicles. The Detroit automaker also says it will spend another $153 million to upgrade five Michigan factories for future vehicles. The company will build the Cadillac...
U.S. stocks head higher at the end of another bumpy week

Stocks are broadly higher in afternoon trading Friday, placing the market on track to close out a choppy week on Wall Street with modest gains. The S&P 500 was up 0.6%, clawing back all its losses from a day earlier. If the gains hold, the benchmark index would mark its...
Stocks fall on Wall Street as coronavirus spreads in Europe

Stocks are falling on Wall Street in afternoon trading Thursday, extending the market’s pullback this week as optimism that Congress will deliver another round of stimulus for the economy wanes and new data show another weekly surge in the number of Americans seeking unemployment aid. The S&P 500 was down...
Stocks fall on Wall Street as hopes fade for stimulus dealVideo

Stocks gave up early gains and closed lower Wednesday, adding to Wall Street’s losses from a day earlier. The S&P 500 fell 0.7% after spending the morning swaying between small gains and losses. Companies that rely on consumer spending, banks and technology and communication stocks bore the brunt of the...
Delta posts $5.4 billion 3Q loss as pandemic hammers travelVideo

The summer travel season was even worse than expected for Delta Air Lines, which said Tuesday that it lost $5.4 billion in the third quarter as people hunkered down at home during the pandemic. Delta officials pushed back their timetable for breaking even, from year-end to next spring, as their...
Amazon pandemic Prime Day steals rivals’ Black Friday spotlightVideo

Amazon.com Inc.’s two-day Prime Day sale kicked off on Tuesday and is expected to give the world’s largest e-commerce company an early advantage over brick-and-mortar rivals still contending with pandemic-spooked consumers wary of battling Black Friday crowds. With Prime Day delayed to October from July this year, Amazon single-handedly could...
Apple unveils new iPhones for faster 5G wireless networks

Apple unveiled four new iPhones equipped with technology for use with faster new 5G wireless networks. There’s the iPhone 12, which Apple says is more durable, with a 6.1-inch display, the same as the iPhone 11 but lighter and thinner, for $799 and the iPhone 12 Mini with a 5.4-inch...
Disney to overhaul its entertainment business with focus on streamingVideo

Disney said Monday that it is reorganizing its business units to focus even more on streaming. The company said in August that its Disney Plus service has more than 60 million subscribers, and subscribers to its main combination of streaming services — Disney Plus, ESPN Plus and Hulu — top...
Stocks are soaring, and most Black people are missing out

Americans who own stocks are pulling further away from those who don’t, as Wall Street roars back to record heights while much of the economy struggles. And Black households are much more likely to be in that not-as-fortunate group that isn’t in the stock market. Only 33.5% of Black households...
S&P 500 rises again, on pace for its best week since July

NEW YORK — Stocks are rising on Wall Street Friday as talks appear to be continuing in the start-and-stop drive on Capitol Hill to deliver more aid to the ailing economy. The S&P 500 was 0.9% higher in afternoon trading, on track for its third straight gain. It’s also on...

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